Property Type

XPO Logistics Signs 213,558 SF Industrial Lease in Hazelwood, Missouri

by Kristin Harlow March 21, 2017

HAZELWOOD, MO. — XPO Logistics Supply Chain Inc. has signed a 213,558-square-foot industrial lease, occupying the entire distribution facility located at 1619 Park 370 Blvd. near St. Louis in Hazelwood. The company is scheduled to take occupancy in April after an interior build-out is completed. HSA Commercial Real Estate developed 1619 Park 370 Blvd. and an adjacent 340,000-square-foot distribution center after purchasing the 30-acre land site from TRiSTAR Properties in 2001. Both facilities are part of the 450-acre Park 370 development situated near the St. Louis Lambert International Airport. Jeffrey Hawley and Brandon Duncan of Block Real Estate Services represented ownership in the lease transaction, while Katie Haywood and Jonathan Hinds of CBRE represented the tenant. XPO Logistics is a global logistics and transportation services provider with 1,425 locations around the world.

March 21, 2017

Illinois Industrial Midwest

Bridge to Develop 133,951 SF Build-to-Suit for Okabe in Grayslake, Illinois

by Kristin Harlow March 21, 2017

GRAYSLAKE, ILL. — Bridge Development Partners LLC has unveiled plans to develop a 133,951-square-foot industrial facility for Okabe Co. in Grayslake. The metal working company will relocate its North American headquarters from Vernon Hills, Ill. The development, located at the intersection of Peterson and Midlothian roads, will feature 30-foot clear heights, 10 exterior truck docks, two drive-in doors, 4,000 amps of power and an ESFR sprinkler system. Okabe acquired the land site from the Lake County Fair Association. The 21.8-acre site features close proximity to I-94 and major thoroughfares in Lake County. Mas Ishida of Colliers International represented Okabe in the build-to-suit deal, while Keith Puritz, Brett Kroner and Eric Fischer of Cushman & Wakefield represented Bridge. Keith Puritz of Cushman & Wakefield represented the association in the land transaction.

March 21, 2017

Illinois Industrial Midwest

Avison Young Arranges Sale of 61,000 SF Industrial Building in Cary, Illinois

by Kristin Harlow March 21, 2017

CARY, ILL. — Avison Young has arranged the sale of a 61,000-square-foot building in Cary, about 45 miles northwest of Chicago. The sales price was not disclosed. The property, located at 165 Chicago St., is fully leased to AMPAC, a global manufacturer of creative and flexible packaging for pharmaceuticals, health and beauty products and retailers. The building, developed in 1985, includes three exterior docks, one drive-in door and heavy power for manufacturing. Erik Foster and Mike Wilson of Avison Young represented the seller, ML Realty Partners. Agracel Inc., a regional industrial development firm based in Effingham, Ill., purchased the property.

March 21, 2017

Loans Multifamily Texas

NXT Capital Provides $26M Loan to Refinance Apartment Complex in Lewisville

by Taylor Williams March 21, 2017

LEWISVILLE, TEXAS — NXT Capital, a Chicago-based lender, has provided a $26 million first mortgage loan to refinance a 242-unit apartment community in Lewisville. The Class A property, which is part of Hebron 121 Station, is located roughly 23 miles from downtown Dallas and offers a resort-style pool with poolside bar, private cabanas, running/biking trails, fitness center and a business center. Roger Wyche of Metropolitan Capital Advisors placed the loan with NXT Capital.

March 21, 2017

Multifamily Texas

Greysteel Negotiates Sale of Nine-Property Multifamily Portfolio in Dallas

by Taylor Williams March 21, 2017

DALLAS — Greysteel has negotiated the sale of Geneva Apartments, a portfolio of nine multifamily properties in Dallas. Five of the properties are located on North Ewing Street; three are on North Lancaster Street; one is on North Marsalis Street, totaling 210 units. Boyan Radic, Doug Banerjee, Andrew Mueller and Andrew Hanson of Greysteel represented the unspecified seller. The name and representative of the buyer were not disclosed.

March 21, 2017

Office Texas

Coldwell Banker Secures Two Office Leases Totaling 52,125 SF in Arlington

by Taylor Williams March 21, 2017

ARLINGTON, TEXAS — Coldwell Banker Commercial has arranged leases on behalf of General Motors Financial Co. Inc. and Epic Health Services, a nursing and pediatric therapy firm, at Bardin Pointe, a 113,000-square-foot office property in Arlington. GM Financial leased 46,228 square feet and Epic leased 5,897 square feet within the two-story building, located at 1351 E. Bardin Road, to raise its occupancy to 96 percent. Rick Hopwood of Hopwood Commercial Real Estate represented GM Financial, and Cribb Altman of Cushman & Wakefield represented Epic Health.

March 21, 2017

Retail Texas

Vitorino Group Brokers Sale of Gas Station in Plano

by Taylor Williams March 21, 2017

PLANO, TEXAS — Vitorino Group, a Dallas-based real estate investments firm, has closed the sale of a 1.2-acre gas station ground leased to Murphy Oil USA in the Dallas suburb of Plano. Vitorino Group represented the seller, a Texas-based private investor, and procured the buyer, a Colorado-based private investor.

March 21, 2017

Retail Texas

Marcus & Millichap Arranges Sale of 37,248 SF Retail Center in Houston

by Taylor Williams March 21, 2017

HOUSTON — Marcus & Millichap has arranged the sale of Royal Providence Plaza, a 37,248-square-foot retail property located at 9103-9111 FM 1960 West in Houston. Derek Hargrove, Justin Miller and Davis Hansen of Marcus & Millichap represented the seller, an undisclosed private investor, and procured the buyer, an unspecified partnership.

March 21, 2017

Multifamily Northeast Pennsylvania Top Stories

Natixis Provides $102.8M Loan to Transform Historic Office Building in Philadelphia into Luxury Apartments

by Jeff Shaw March 21, 2017

PHILADELPHIA — Natixis has provided a $102.8 million first mortgage loan to Post Brothers, which will use the capital to redevelop the historic Atlantic Building in Philadelphia as a 268-unit luxury apartment complex. The Atlantic Building is a 330,000-square-foot, 21-story office building located at 260 S. Broad St. in Philadelphia’s Center City submarket. World-renowned architect Rafael Viñoly designed the building, which was completed in the 1920s. Post Brothers will rename the building The Atlantic. Once the redevelopment is complete, amenities will include a business lounge with conference rooms, clubhouse, fitness center including yoga studio, rooftop swimming pool, roof deck with dog park and grilling areas, and a three-story, 205-space parking garage. “The Atlantic will be another premier residential building that will be similar to previously delivered first-class Post Brothers buildings and will take full advantage of the vibrant and growing Center City market,” says Greg Murphy, head of Natixis Real Estate Finance Americas. Post Brothers acquired the building in 2012 for $27 million, according to the Philadelphia Business Journal. The Philadelphia-based multifamily developer and operator attempted to sell the building to Jefferson Apartments for $50 million in 2014, but decided to proceed with the apartment redevelopment project when that deal …

March 21, 2017

California Market Reports Retail Western Western Market Reports

Experiences Win Out Over Some Traditional Big Boxes in San Diego

by Camren Skelton March 21, 2017

There was a big shake-up in the big box world with long-time sporting goods staples Sports Chalet and Sports Authority shuttering stores across the county. Macy’s in Mission Valley is also closing, while Nordstrom is shutting down in downtown. Interestingly, Hobby Lobby and the large pet stores seem to be buffered by the big box epidemic. In Chula Vista, two long-time vacant big boxes were finally chopped up into four spaces to accommodate the mid-sized box users. The good news is that big, “boring” boxes are being replaced by big “experiences.” Experiences, whether in a larger property or within a specific business, continue to be important for retailers and restaurants. Landlords across the county are making large investments to create experiences that will attract consumers. At the top end of the spectrum we have seen Westfield finally pulling the trigger on a massive remodel of the UTC mall, which will include more than 100 new stores and restaurants. Rouse purchased the Carlsbad mall from Westfield and has seemed to follow a similar business plan with its revamp, adding an exciting lineup of restaurants along the outside of the property. Liberty Station in Point Loma is coming into its prime with, …

March 21, 2017

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