Property Type

MIG Real Estate Purchases Three Buildings at Braker Center Business Park in Austin

by Christina Cannon July 8, 2016

AUSTIN — MIG Real Estate, a Newport Beach, Calif.-based real estate investment firm, has purchased three buildings within Braker Center Business Park in Austin. The acquisitions include Buildings 6, 7 and 11 and total more than 218,000 square feet of flex office and light industrial space. All three buildings are single-story and served by dock and semi-dock overhead doors with ramps and feature 16-foot clear heights. The assets were 91 percent leased at the time of sale to tenants including The Carrier Corp., Landis+Gyr Technologies Inc. and DeWalt. Will Nichols, Sam Owen and Caitlyn Ryan of Stream Realty represented the undisclosed seller in the transaction. MIG Real Estate was self-represented.

July 8, 2016

Greysteel Arranges Sale of 20-Unit Apartment Building in Fort Worth

by Christina Cannon July 8, 2016

FORT WORTH, TEXAS — Greysteel has arranged the sale of a 20-unit apartment building in Fort Worth for an undisclosed price. The Edmundton Apartments, located at 5601 Birchman Ave., is a two-story building that was constructed in 1968. The property, which is situated on less than a half acre, has recently undergone renovations including faux wood flooring, brushed nickel features, upgraded bathroom vanities and toilets, upgraded appliance packages, a new irrigation system and the replacement of 15 of the 20 HVAC units. Both the buyer and seller in the transaction were undisclosed. Boyan Radic, Doug Banerjee, Andrew Mueller, Ryan Hill and Andrew Hanson of Greysteel brokered the transaction.

July 8, 2016

Retail Texas

Baker Katz Brokers 23,500 SF Aldi Lease Near Houston

by Christina Cannon July 8, 2016

LAKE JACKSON, TEXAS — Houston-based brokerage Baker Katz has arranged the lease of a freestanding, 23,500-square-foot building to discount grocery chain Aldi in Lake Jackson, located approximately 55 miles south of Houston. The building is located at the corner of State Highway 288 and This Way Street. Streetwise Realty Partners represented the tenant. Situated near Lowe’s Home Improvement and Dow Chemical’s new campus, the new Aldi is slated to open this fall.

July 8, 2016

Illinois Industrial Loans Midwest Ohio

New York Life Provides $120M Loan for 15-Property Industrial Portfolio

by Christina Cannon July 8, 2016

CHICAGO AND CINCINNATI — New York Life Real Estate Investors has provided a $120 million mortgage loan secured by a 15-property industrial portfolio. The Class A buildings, which total 3.3 million square feet, are located in the Chicago, Cincinnati and Memphis metro areas. An affiliate of Industrial Property Trust Inc. is the borrower that received the eight-year, fixed-rate loan.

July 8, 2016

Illinois Industrial Midwest

Brennan Investment Group Acquires 443,103 SF Industrial Property in Sale-Leaseback Deal in Illinois

by Christina Cannon July 8, 2016

ELGIN, ILL. — In a sale-leaseback deal, The Packaging Wholesalers has sold its 443,103-square-foot industrial headquarters building in Elgin, approximately 40 miles northwest of Chicago, to Brennan Investment Group LLC for an undisclosed price. The property is located at 1717 Gifford Road. Adam Marshall and Mark Deady of Newmark Grubb Knight Frank represented Brennan Investment Group in the transaction. Brennan Investment Group is a private real estate investment firm that acquires, develops, and operates industrial facilities throughout the United States.

July 8, 2016

Illinois Industrial Midwest Mixed-Use

Thor Equities Buys 16,000 SF Building in Chicago for $5.9M

by Christina Cannon July 8, 2016

CHICAGO — Thor Equities has acquired a 16,000-square-foot industrial building in Chicago’s Fulton Market neighborhood for $5.9 million. Columbus Meats, the seller, will occupy the building for the next three months, after which it will be converted to a retail and office building. Located at 942 W. Fulton Market, the four-level property is situated across the street for Google’s new Midwest headquarters and directly in front of a new ACE Hotel.

July 8, 2016

Indiana Midwest Retail

Novak Construction Finishes 153,000 SF Costco in Indianapolis

by Christina Cannon July 8, 2016

INDIANAPOLIS — Novak Construction has completed a 153,000-square-foot Costco Wholesale in Indianapolis. The building includes a food court, meat preparation area, bakery, freezer and cooler, optical center, photo processing area, pharmacy and tire center. The project also features a fuel center. Construction was completed in 110 days. Costco Wholesale is a chain of membership warehouses with 494 locations throughout the United States and Puerto Rico.

July 8, 2016

Michigan Midwest Office

Friedman Arranges 8,746 SF Office Lease in Southfield, Michigan

by Christina Cannon July 8, 2016

SOUTHFIELD, MICH. — Friedman Integrated Real Estate Solutions has arranged an 8,746-square-foot lease for The Steinberg Law Firm, which will occupy space in the Onyx office building in Southfield, approximately 15 miles northwest of Detroit. The space will serve as the firm’s new headquarters, which was formerly located in Farmington Hills. Located at 29777 Telegraph Road, Onyx is a four-story building situated on 11.9 acres. The recently renovated building features amenities such as a sundry shop, café, conference facility and on-site management. Other new tenants to the building include Fras-le North America, Bogdahn Consulting, Dynamic Wealth Solutions and Szura-Delonis. David Friedman, Jordan Friedman and Greggory Kent of Friedman represented the landlord in the transaction.

July 8, 2016

Florida Mixed-Use Retail Southeast

Swire Properties Announces Five New Retailers Joining Brickell City Centre in Miami

by John Nelson July 8, 2016

MIAMI — Swire Properties Inc. has announced new retailers joining Brickell City Centre’s 500,000-square-foot, open-air shopping center in Miami’s Brickell district. Comprising more than 80 retailers and eateries, the retail development is set to open to the public in November. The new tenants joining the project include Victoria’s Secret, Bath & Body Works, Suit Supply, Stitched and Pinko. Swire Properties is co-developing the shopping center with Whitman Family Development and Simon Property Group. Tenants that have previously signed leases at the $1.05 billion, 4.9 million-square-foot Brickell City Centre include Saks Fifth Avenue, Cinemex, Italian Food Hall, LIVE!, lululemon athletica, Armani Collezioni, Cole Haan, Bally, Coach, Porsche Design, Luke’s Lobster, Taco Chic and AT&T. As part of the center’s design, Swire Properties has integrated the Miami Metromover with a stop that exits directly into the shopping center’s third floor. The project will also feature a two-story underground parking deck.

July 8, 2016

District of Columbia Office Southeast

Skanska to Build $60M D.C. Water and Sewer Headquarters in D.C.

by John Nelson July 8, 2016

WASHINGTON, D.C. — Skanska has signed a $60 million contract with the District of Columbia Water and Sewer Authority to construct its new administrative headquarters building in Washington, D.C. Skanska will build the new headquarters over an operating pump station. The 150,694-square-foot building will house roughly 350 D.C. Water and Sewer employees. The project is targeted for LEED Platinum certification. Skanska will break ground on the facility this year with an expected completion for December 2017.

July 8, 2016

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