KANSAS CITY, MO. — Cushman & Wakefield has negotiated the lease of 81,997 square feet of industrial space in Building III at Three Trails Industrial Park in Kansas City. Shuttlewagon Inc., a designer and manufacturer of mobile railcar movers for aggregate, mining and refining industries, will occupy the space located at 8701 Elmwood Ave. for 15 years. At least 60 employees are expected to work in the building. Joe Accurso and Rob Holland of Cushman & Wakefield represented Shuttlewagon in the transaction. Mark Fountain and Nick Tinnel of True North Industrial Realty LLC represented the landlord, NPIF2 Three Trails Building III LLC.
OAK BROOK, ILL. — Bradford Allen has been named the exclusive leasing agent for 1900 Spring Road, a 107,000-square-foot Class A building in Oak Brook, about 20 miles west of Chicago. The building is also known as Citibank Office Plaza, as Citibank runs a branch on the first floor. Franklin Partners purchased the building from American Realty Advisors in September and plans to relocate its offices to the building as well as handle the property management. John Millner and Ryan Moen of Bradford Allen will handle the leasing management.
SOUTHFIELD, MICH. — Friedman Integrated Real Estate Solutions has negotiated the lease of 26,607 square feet of office space for Metropolitan Life Insurance Co. in Southfield. Galleria Office Center is located at 300 Galleria Road. David Friedman and Robert Gagniuk of Friedman represented the landlord, Galleria Owner LLC, in the transaction.
MILACA, MINN. — Marcus & Millichap has arranged the sale of Milaca Park Apartments in Milaca, north of Minneapolis, for $3 million. The 71-unit apartment building is located at 240 2nd Ave. SW. Dan Linnell, Mox Gunderson and Josh Talberg of Marcus & Millichap’s Minneapolis office, in conjunction with Paul Davis, Andrew Daitch and Seth Barnett of Marcus & Millichap’s Detroit office, marketed the property on behalf of the seller, a partnership. Dan Linnell, Mox Gunderson and Josh Talberg represented the buyer, a limited liability company. Steven Chaben of Marcus & Millichap assisted in closing the transaction.
LEBANON, TENN. — Premier Design + Build Group LLC plans to construct Commerce Farms V, a 650,000-square-foot spec distribution facility situated within the 145-acre Commerce Farms Industrial Park in Lebanon, a suburb of Nashville. Premier Design + Build is building the property on behalf of the developer, HSA Commercial Real Estate. The facility will sit on 41 acres at Highway 109 and feature 32-foot clear heights, 144 truck dock positions, four drive-in doors, a parking lot with 184 trailer stalls and a TPO roofing system. Joe Ahrens is the project manager and Johnathan Nelsen is the field superintendent from Premier Design + Build. Harris Architects will deliver architectural services for the project, and Joe DeLemos of NorthStar Real Estate Advisors is leasing the building.
DURHAM, N.C. — KeyBank Real Estate Capital has arranged a $26.5 million loan for Whetstone Apartments, a 204-unit multifamily community located at 501 Willard St. in downtown Durham. The undisclosed borrower is using the loan to refinance existing debt for the property, which was built in 2014. Chris Black of KeyBank arranged the seven-year loan with 12 months of interest-only payments and a 30-year amortization schedule.
SANDY SPRINGS AND MARIETTA, GA. — Stein Investment Group has purchased two office properties in metro Atlanta for a combined $18 million. The Atlanta-based buyer purchased both properties from Baltimore-based Alex Brown Realty. The assets include the 120,000-square-foot Northside Tower located at 6065 Roswell Road in Sandy Springs and the five-building, 60,000-square-foot East Cobb Office Complex located at 1000 Johnson Ferry Road in Marietta. Northside Tower was 95 percent leased at the time of sale to 70 tenants, including Signature Bank. East Cobb Office Complex was 80 percent leased to office and healthcare tenants such as Atlanta Falcons Physical Therapy Centers, Allstate Insurance, Sheffrin Men’s Health and Creative Dentistry. Stein Investment plans to invest $2 million to upgrade Northside Tower and $1 million to update East Cobb Office Complex.
CHARLOTTE, N.C. — Stan Johnson Co. has brokered the $12 million sale of a 76,899-square-foot, freestanding office building and call center located at 14401 Carowinds Blvd. in Charlotte. The property is leased on a long-term basis to iQor, an outsourcing firm that employs more than 1,000 agents at the facility. Britton Burdette of Stan Johnson’s Atlanta office represented the developer, 14401 Southlake Crossing LLC, in the transaction. The buyer was a private investor.
DUNWOODY, GA. — Avison Young has arranged the $5.6 million sale-leaseback of a 16,500-square-foot medical office building located at 4646 N. Shallowford Road in Dunwoody, a northeast suburb of Atlanta. The property features 12 examination rooms and features a rehabilitation center on-site. The seller, Progressive Medical, a medical clinic specializing in both traditional and holistic forms of medicine, has occupied the building since 1998 and has recently signed a 12-year lease with the new owner as part of the transaction. Art Waldrop and Sean Moynihan of Avison Young brokered the deal.
JACKSONVILLE, FLA. — Lingerfelt CommonWealth Partners LLC has sold Riverplace Tower, a 441,000-square-foot office tower located at 1301 Riverplace Blvd. in downtown Jacksonville. The undisclosed buyer purchased the 28-story tower, which is situated along the St. Johns River, for $53.4 million. The new owner has retained Richmond, Va.-based Lingerfelt CommonWealth to operate the asset, which the company purchased in 2014 for $29 million. Ameris Bank has signage on the office tower and occupies the entire 26th floor. The bank also operates a branch in the lobby. Commonwealth Commercial Partners, Lingerfelt CommonWealth’s property management affiliate, will handle day-to-day asset and property management responsibilities at Riverplace Tower. JLL will continue to handle the leasing and marketing of Riverplace Tower on behalf of the new owner. Lingerfelt CommonWealth Partners is a full-service real estate investment management firm with additional offices in Nashville, Jacksonville, Tampa, Charlotte, Raleigh, Greensboro and Hampton Roads. Together with its predecessors in the private sector and public REIT sector, its partners have built, acquired and managed nearly 20 million square feet of commercial real estate valued at approximately $2 billion across the Mid-Atlantic and Southeast. In addition to Riverplace Tower, Lingerfelt CommonWealth recently sold the Bank of America Plaza, a …