Property Type

Dermody Properties Breaks Ground on LogistiCenter at 167 Near Tacoma

by Nellie Day May 18, 2016

TACOMA, WASH. — Dermody Properties has broken ground on LogistiCenter at 167, a 225,972-square-foot industrial facility in Fife. The facility will be located at 7450 26th St. E., just east of Tacoma. LogistiCenter at 167 is situated 1.7 miles from Interstate 5 and the Port of Tacoma, the largest deep-water port in Washington. Other industrial operations in the neighborhood include Regal Distribution, Milgard Windows & Doors, Mission Foods, American Fast Freight, Gensco, Fed Ex Freight, Odom Corp., Pexco, UPS and Prologix Distribution Services. Craft Architects is designing the building and the general contractor is Poe Construction. Vanessa Herzog, Patricia Loveall and Kraig Heeter of Kidder Mathews are representing Dermody.

May 18, 2016

California Retail Western

Smart & Final Opens 33 Stores in California

by Nellie Day May 18, 2016

COMMERCE, CALIF. — As part of its growth plan, Smart & Final has opened 33 Smart & Final Extra! warehouse-style grocery stores in California. The locations, which were acquired in December 2015, were previously operated under the Haggen banner. Between January 20, 2016 and May 11, 2016, Smart & Final opened 11 Smart & Final Extra! stores in the San Diego area, seven in Los Angeles County, four in Orange County, three in Ventura County, four in the Central Coast, and two in the Inland Empire — all of which were formerly operated under the Haggen banner — and one additional non-Haggen location in Sacramento County. Currently, Smart & Final operates 306 stores in California, Oregon, Washington, Arizona, Nevada and Idaho, including 251 Smart & Final banner stores, 160 of which are Smart & Final Extra! format stores.

May 18, 2016

Hospitality Mixed-Use Multifamily Office Restaurant Retail Texas

Southside Bank to Finance Infrastructure at Frisco Station

by Haisten Willis May 18, 2016

FRISCO, TEXAS — Southside Bank will finance new development at Frisco Station, a 242-acre mixed-use development located along the Dallas North Tollway in Frisco. The bank will provide the Frisco Station Partnership, an investment entity composed of Hillwood, Rudman Partnership and Van Trust Real Estate, with a three-year revolving line of credit for constructing road, water, sewer and other utilities. Initial construction will begin in June and will include infrastructure to support office development along Warren Parkway. Frisco Station includes more than 5 million square feet of office space, 2,400 apartment units, food and beverage concepts, hotel and conference facilities and more than 250,000 square feet of retail space. Headquartered in Tyler, Texas, Southside Bank has $5.2 billion in assets and operates more than 60 banking facilities in Texas.

May 18, 2016

Retail Texas

Scooter’s Coffee to Open Two New Locations in Texas

by Haisten Willis May 18, 2016

BOERNE and THE COLONY, TEXAS — Scooter’s Coffee will open two new locations in Texas. The coffee franchise has begun construction of an end-cap at 1 FM 3351, Suite 155 in the San Antonio suburb of Boerne. The 1,560-square-foot location will include a drive-thru and is projected to open in mid-August. The chain has also signed a lease for a drive-thru kiosk located on the southeast corner of South Colony Boulevard and Main Street in the Dallas suburb of The Colony. The 480-square-foot location is also projected to open in mid-August. The new locations will be Scooter’s sixth and seventh in Texas. Based in Omaha, Neb, Scooter’s Coffee operates more than 130 stores, with expansion plans for 40 more locations by the end of 2016. The company hopes to operate more than 500 stores by 2021.

May 18, 2016

Office Texas

Citadel Partners Brokers Sale of Office Property in Dallas

by Haisten Willis May 18, 2016

DALLAS — Citadel Partners LLC has represented the Richardson Independent School District in the acquisition of an 86,310-square-foot office building situated on 4.5 acres in Dallas. The property will undergo an adaptive reuse process to transform from an office building into an elementary school. Scott Morse, Scott Jessen, Andy Goldston and Mac Morse of Citadel Partners represented the buyer, and Grant Brodeur of Novus Realty Advisors LLC represented the seller, Cocanougher Asset 2 Ltd.

May 18, 2016

Office Texas

InvestCore Secures Sale of Education Center Property in San Antonio

by Haisten Willis May 18, 2016

SAN ANTONIO — InvestCore Commercial has secured the sale of a 50,150-square-foot building that is net leased to the City of San Antonio Pre-K Education Center. The 5.4-acre site is located at 1235 Old Highway 90 W. A private California-based REIT purchased the property, which was built in 2014. The city of San Antonio maintains a long-term lease at the facility, with options to extend. Ed Colson Jr. and Michael Campbell of San Diego-based InvestCore Commercial represented the seller, the developer of the property, in the transaction.

May 18, 2016

Retail Texas

M&M Arranges Sale of 12,652 SF Retail Property in Metro Dallas

by Haisten Willis May 18, 2016

EULESS, TEXAS — Marcus & Millichap has arranged the sale of Arbor Creek, a 12,652-square-foot retail property located in Euless. Philip Levy and Chris Gainey of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a developer. Levy and Gainey also secured the buyer, a developer. Built in 2005 on 1 acre, Arbor Creek is 88 percent leased to tenants including T-Mobile, Little Caesars, Check ‘n Go and Euless Swiftcare. Albertson’s, which anchors the property, was remodeled in 2014.

May 18, 2016

Multifamily New Jersey Northeast Seniors Housing

Cushman & Wakefield Brokers Sale of New Jersey Retirement Community

by Amy Works May 18, 2016

DENVILLE, N.J. — Cushman & Wakefield has arranged the sale of Franciscan Oaks, a continuing care retirement community located at 19 Pocono Road in Denville. Springpoint Senior Living acquired the entrance-fee property for an undisclosed sum. Situated on 14 acres, the property features 285 independent living apartments, 33 assisted living units and an 84-bed skilled nursing facility. Allen McMurtry, Megan Fetter and David Kliewer of Cushman & Wakefield represented the seller, Catholic Health Initiatives, in the transaction.

May 18, 2016

New York Northeast Office Retail

Related, LargaVista Break Ground for 80,000 SF Office/Retail Building in SoHo

by Amy Works May 18, 2016

NEW YORK CITY — Related Cos. and LargaVista Cos. have broken ground for 300 Lafayette Street, an 80,000-square-foot office and retail building located in SoHo. The seven-story building will feature 50,000 square feet office space on floors three through seven and 30,000 square feet of retail space on the first two floors. The office portion of the building will include a separate lobby from the flagship retail space. Designed by COOKFOX Architects for LEED Silver certification, the property is slated for completion in early 2018. JLL has been retained to market for lease both portions of the property.

May 18, 2016

Multifamily New York Northeast

IPA Negotiates $56.5M Sale of 86-Unit Apartment Complex in Brooklyn

by Amy Works May 18, 2016

NEW YORK CITY — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of Mohawk Apartments, a six-building apartment complex located at 369-379 Washington Ave. and 76-84 James Place in Brooklyn. An undisclosed buyer acquired the 91,514-square-foot asset for $56.5 million. Built in 1905 and rehabilitated in the 1980s, the complex features 86 apartment units in a mix of one-, two- and three-bedroom layouts, as well as a commercial unit. Peter Von Der Ahe, Joe Koicim, Shaun Riney, James Saros and Michael Salvatico of IPA represented the undisclosed seller and procured the buyer.

May 18, 2016

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