Property Type

Marcus & Millichap Arranges Sale of 18-Story Residential High-Rise in Downtown Fort Worth

by Katie Sloan June 28, 2016

FORT WORTH, TEXAS — Marcus & Millichap has brokered the sale of the Historic Electric Building Apartments, an 18-story high-rise development located at 410 W. 7th St. in downtown Fort Worth. The property features 106 loft-style apartment residences and 10,000 square feet of ground-level retail space. Listed on the National Register of Historic Places, the property was built in 1928 and converted to apartments and retail in 1994. The asset is located within walking distance of Burnett Park, the Fort Worth Convention Center and Sundance Square. John Barker of Marcus & Millichap’s Fort Worth office represented the seller and procured the buyer, both limited liability companies.

June 28, 2016

Mixed-Use Multifamily Retail Texas

High Street Residential, Northwestern Mutual Top Out Knox Heights Mixed-Use Development in Dallas

by Katie Sloan June 28, 2016

DALLAS — High Street Residential, in partnership with Northwestern Mutual Real Estate, has topped out Knox Heights, a six-story mixed-use development located along McKinney Avenue in Dallas. The project will feature 13,500 square feet of ground-floor retail, 182 luxury residential units, a 2,400-square-foot fitness facility and lounge, a 4,500-square-foot amenity deck and pool, and a three-level, 363-space subterranean parking garage. Construction on the Class A development is scheduled for completion in early 2017. Andres Construction Services serves as the general contractor for the development, and Good Fulton & Farrell is the project’s architect.

June 28, 2016

Office Texas

K2 Construction to Build Out Three Office Spaces for Prominent Tenants in Downtown Dallas

by Katie Sloan June 28, 2016

DALLAS — K2 Construction will serve as the general contractor for new downtown Dallas offices for Chubb Insurance, Compass Professional Healthcare Services (CPHS) and El Centro College. Chubb Insurance will relocate within its current building at Bryan Tower to accommodate the company’s recent acquisition by ACE Group. Chubb will shift its offices from the 33rd and 34th floors to the 3rd, 35th and 36th floors. Dallas-based K2 Construction will collaborate with Spire Realty and moran & murphy architects to build approximately 90,000 square feet of office space for the move. Sam Williamson with Spire Realty is the construction manager for this project. Meanwhile, CPHS has leased two floors in the Bank of America Plaza. The relocation of its operations from the Centrum on Oak Lawn Avenue will require 60,000 square feet on the 57th and 58th floors of the new location. Interior Architects designed the space. Darrell Payne with Peloton Commercial and Kris Hopson with CBRE are the construction managers for this project. El Centro College, a sector of Dallas County Community College District, has leased two floors in One Main Place tower located at 1201 Main St. The 10th and 11th floors will provide El Centro with approximately 57,000 …

June 28, 2016

Retail Texas

JLL Arranges Sale of Access Self Storage Facility in Houston

by Katie Sloan June 28, 2016

HOUSTON — JLL has arranged the sale of a 94,475-square-foot Access Self Storage facility located at 650 Bay Area Blvd. in Houston. The Class A property opened in 2015 and is comprised of one three-story self-storage building consisting of 800 climate-controlled units and 39 non-climate controlled units. The facility, acquired by Simply Self Storage, offers 24-hour video surveillance and a customer service office designed for retail sales. Steve Mellon and Brian Somoza of JLL brokered the sale, and Griffin Guthneck of JLL secured acquisition financing on behalf of the buyer. The seller was undisclosed.

June 28, 2016

Restaurant Retail Texas

Vitorino Group Brokers Sale of McDonald’s Ground Lease in Frisco

by Katie Sloan June 28, 2016

FRISCO, TEXAS — The Vitorino Group has arranged the sale of a freestanding retail property ground leased to McDonald’s in Frisco. The restaurant is located on Custer Road near State Highway 121 and will eventually serve as an outparcel to a Walmart Supercenter. The buyer, a Canadian doctor, purchased the McDonald’s from a local partnership for an undisclosed price. The Vitorino Group represented the seller, and an unnamed broker based in Dallas secured the buyer.

June 28, 2016

Connecticut Industrial Northeast

Exeter Property Group Acquires 428,000 SF Industrial Park in Connecticut for $41M

by Amy Works June 28, 2016

STRATFORD, CONN. — Exeter Property Group has acquired Stratford Industrial Park, a four-building industrial park located at 500-650 Long Beach Blvd. in Stratford. Stratford Development sold the 428,000-square-foot asset for $41 million. Situated on 34 acres, the park is 100 percent occupied by a variety of tenants, including Starbucks Coffee, FedEx Ground, Carrier Corp. and Endo Industrial. Kyle Schmidt, Gary Gabriel, Andrew Merin, David Bernhaut, Al Mirin and Kate Schwartz of Cushman & Wakefield brokered the deal.

June 28, 2016

Industrial Loans New Jersey Northeast

G.S. Wilcox Places $25M in Financing for 338,661 SF Warehouse Building in New Jersey

by Amy Works June 28, 2016

SECAUCUS, N.J. — G.S. Wilcox & Co. has arranged $25 million in financing for a 338,661-square-foot single-tenant warehouse facility located in Secaucus. Financed by Thrivent Financial, the loan features a fixed rate for five years and a 30-year amortization schedule. The 338,661-square-foot property is currently net leased by Staples. Gretchen Wilcox and Al Raymond of G.S. Wilcox originated the loan for the undisclosed borrower.

June 28, 2016

Hospitality Loans New York Northeast

Q10 New York Realty Advisors Arranges $15.5M Loan for 80-Room Hotel in NYC

by Amy Works June 28, 2016

NEW YORK CITY — Q10 New York Realty Advisors has arranged a $15.5 million permanent loan for a hotel in New York City. The fixed-rate loan was a cash-out refinance of more than $3 million. Located near Jacob Javits Convention Center, the limited-service hotel features 80 guest rooms.

June 28, 2016

New York Northeast Retail

Ariel Property Advisors Brokers $7.8M Sale of Retail Property in the Bronx

by Amy Works June 28, 2016

NEW YORK CITY — Ariel Property Advisors has arranged the sale of a retail strip center located at 1943-1955 Westchester Ave. in the Parkchester section of the Bronx. A private investor purchased the property from Vanbarton Group for $7.8 million, or $861 per square foot. At the time of sale, the 9,000-square-foot property was fully occupied by commercial tenants, including H&R Block, GNC, Petland and a furniture store. The property is zoned for R6/C1-2, which allows for an additional 21,009 square feet of air rights. Victor Sozio, Shimon Shkury, Jason Gold, Scot Hirschfield and Marko Agbaba of Ariel Property Advisors represented the seller and procured the buyer.

June 28, 2016

Hospitality Kansas Midwest

Block & Co. Brokers Sale of Pad Site for Future Development of Homewood Suites Hotel in Kansas City

by Christina Cannon June 28, 2016

KANSAS CITY, KAN. — Block & Company Inc. Realtors has brokered the sale of a 2.7-acre pad site that will be home to a Homewood Suites by Hilton. The hotel will be part of Phase V of the Plaza at the Speedway development in Kansas City, which is an 850,000-square-foot retail power center. Baywood Hotels Inc. purchased the pad site located at 10922 Parallel Parkway. Tenants at the center include Walmart Supercenter, Sam’s Club, Kohl’s, Taco Bell, Olive Garden, Red Lobster, Chick-Fil-A, Jack in the Box, Wendy’s and Logan’s Roadhouse. David Block, Alex Block and Max Kosoglad of Block & Co. represented the seller, Plaza Speedway Development Inc., in the transaction.

June 28, 2016

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