Property Type

Dallas Cowboys Unveil Plans for Retail Block at Team’s $1.5B Mixed-Use Development

by John Nelson May 5, 2016

FRISCO, TEXAS — The Dallas Cowboys have unveiled plans for a 200,000-square-foot retail block at The Star in Frisco, a $1.5 billion, 91-acre mixed-use development that will include the NFL team’s new headquarters. In addition to the retail space and corporate headquarters, The Star in Frisco will feature the Cowboys’ training complex, a 12,000-seat multi-use event center and an Omni hotel. “The retail area will allow visitors to enjoy The Star whether there’s an event happening or simply a Friday night out with friends and family,” says Jerry Jones Jr., executive vice president and chief sales and marketing officer for the Dallas Cowboys. Storefronts will line The Star Boulevard, Winning Drive and Cowboys Way at The Star, and will provide shoppers and diners with a Dallas Cowboys brand experience. The restaurants that will be opening locations at The Star include City Works, Dee Lincoln Prime, Liberty Burger, Mi Cocina, Neighborhood Services, Nestlé Toll House Café by Chip and Tupelo Honey Café. The retail space will be located south of the Cowboys’ headquarters and The Ford Center, which will house the event center and the team’s training complex. Neighborhood Services will be located inside the Omni hotel. Next Step Dance, a …

May 5, 2016

Illinois Midwest Mixed-Use

Structured Development Sells Chicago’s Blackhawk on Halsted Project

by Christina Cannon May 5, 2016

CHICAGO — Structured Development has sold Blackhawk on Halsted, a 224,000-square-foot mixed-use development. A foreign institutional investment fund represented by LaSalle Investment Management purchased the property, which is located at 1460 N. Halsted St. in Lincoln Park, for an undisclosed price. The fully leased development was completed in 2009 and consists of three structures with retail and medical office space. Buildings include an 82,901-square-foot structure that houses the British School of Chicago, whose lease runs through 2040; an adjacent mixed-use building that includes 48,016 square feet of retail and 93,287 square feet of medical office space; and a 550-vehicle parking garage with an additional 48,016 square feet of ground-level retail. Retail tenants at Blackhawk on Halsted include The Tile Shop and REI, whose 28,000-square-foot store is the retailer’s only location in Chicago. Northwestern Memorial Physicians Group, Advocate Health Care and Town & Country Pediatrics anchor the development’s medical office space. Structured Development acquired the property in 2012 for $82 million.

May 5, 2016

Illinois Midwest Multifamily

Essex Realty Brokers $4M Sale of 31-Unit Multifamily Property in Chicago

by Christina Cannon May 5, 2016

CHICAGO — Essex Realty Group has brokered the $4 million sale of a 31-unit multifamily property in Chicago. The building, located at 3747 W. Sunnyside Ave. in the Albany Park neighborhood, was fully renovated in 2014. Upgrades include all new electrical wiring, new plumbing, new windows and tuck-pointing. Interior renovations include granite countertops, new cabinets, refinished hardwood floors, new in-unit HVAC systems and fully updated kitchens and bathrooms. Doug Imber, Kate Varde and Brian Kochendorfer of Essex Realty brokered the transaction. The buyer and seller in the transaction were undisclosed.

May 5, 2016

Midwest Office Ohio

CBRE Arranges $3.1M Sale of 42,000 SF Office Building in Cincinnati

by Christina Cannon May 5, 2016

CINCINNATI — CBRE Group Inc. has arranged the sale of a two-story office building in Cincinnati for $3.1 million. The 42,000-square-foot property, 111 Tri-County Parkway, is 100 percent leased to Cincinnati Bell Technology Services, which uses the facility as a support center for help desk functions, bench-testing and fulfillment services. Keith Yearout, Jim Vondran and Hank Davis of CBRE represented the seller, OA Development, in the transaction. Wang Brothers Investment, a California-based private equity investor, was the buyer.

May 5, 2016

Midwest Ohio Retail

Cooper Commercial Negotiates Sale of 335,000 SF Shopping Center in Toledo

by Christina Cannon May 5, 2016

TOLEDO, OHIO — The Cooper Commercial Investment Group has negotiated the sale of Great Eastern Shopping Center, a 335,000-square-foot retail center in Toledo for an undisclosed price. Super Dollar Tree, Dollar General and McDonald’s anchor the retail property. A New York-based private investment group acquired the property from a large institutional seller out of New York. Bob Havasi and Dan Cooper of Cooper Commercial Investment Group represented the seller in the transaction.

May 5, 2016

Industrial Kansas Midwest

Colliers International Brokers Sale of 142,308 SF Industrial Building Near Kansas City

by Christina Cannon May 5, 2016

SHAWNEE, KAN. — Colliers International has arranged the sale of a 142,308-square-foot industrial building in Shawnee, approximately 10 miles southwest of Kansas City, for an undisclosed price. ECM Real Estate Holdings LLC sold the facility, located at 23501 W. 84th St., to Shawnee Logistics Centre LLC. John Stafford, Ed Elder and Tom Haverty of Colliers International represented the seller in the transaction. The buyer was self-represented.

May 5, 2016

California Office Western

Olive Hill Group Buys Office Campus in Culver City for $65.5M

by Nellie Day May 5, 2016

CULVER CITY, CALIF. — Olive Hill Group has purchased a 206,538-square-foot office campus in the Los Angeles submarket of Culver City for $65.5 million. The Class A asset is located at 200 and 300 Corporate Pointe. The buildings were 88.6 percent occupied at the time of sale. Notable tenants at the campus include Paychex, Landmark Education, DataScience, Fonality, TransUnion and Shiseido Cosmetics. The assets were constructed in 1988 and renovated in 2004. They are part of a larger master-planned development called Corporate Pointe, which encompasses a total of eight buildings. Bob Safai, Matt Case and Brad Schlaak of Madison Partners represented the seller, Broadreach Capital Partners, in this transaction. The new ownership has retained the firm’s Joe King to continue leasing efforts at the properties.

May 5, 2016

Arizona Multifamily Western

TruAmerica Acquires Little Cottonwoods Apartments in Tempe for $56.7M

by Nellie Day May 5, 2016

TEMPE, ARIZ. — TruAmerica Multifamily and institutional capital partner Investcorp have acquired the 379-unit Little Cottonwoods apartment complex in Tempe for $56.7 million. The community is located at 1820 E. Bell De Mar Drive. Little Cottonwoods was built in phases between 1985 and 1991. This transaction represents TruAmerica’s third and largest multifamily investment in the Phoenix area to date. It is the fourth venture the firm has completed with Investcorp in the past 15 months.

May 5, 2016

California Industrial Western

Prologis Sells 12-Building Carson Industrial Center

by Nellie Day May 5, 2016

CARSON, CALIF. — Prologis has sold the 12-building Carson Industrial Center in the Los Angeles submarket of Carson to an institutional real estate manager for an undisclosed sum. The 450,000-square-foot center is situated on Del Amo Boulevard. Carson Industrial Center is fully leased to 19 tenants. Notable tenants include Sourcecorp BPS, Coast Wire & Plastic Technology and Illumination International. Jeffrey Cole, Jeffrey Chiate and Ed Hernandez of Cushman & Wakefield represented Prologis in this transaction.

May 5, 2016

California Multifamily Western

California Landmark Group Buys Lafayette Park Apartments in Los Angeles for $23.7M

by Nellie Day May 5, 2016

LOS ANGELES — California Landmark Group (CLG) has acquired the 120-unit Lafayette Park Apartments in the downtown Los Angeles submarket of Koreatown for $23.7 million. The community is located at 349 S. Lafayette Park Place. Lafayette Park was built in 1971. CLG will implement a $4 million capital improvement program over the next several years. The plan will include extensive renovations to the building’s exterior, pool area and clubhouse. Interior unit improvements will include new appliance packages, stone countertops, cabinetry, flooring, lighting and fixtures. The acquisition was financed with a $17.5 million first mortgage loan from Mesa West Capital. Stewart Weston of Marcus & Millichap represented CLG in this transaction. The seller was a private investor.

May 5, 2016

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