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Mixed-UseOfficeRetailTexas

PlainsCapital Bank to Open New Office and Retail Location at The Star in Frisco

by Haisten Willis

FRISCO, TEXAS — PlainsCapital Bank has leased a 5,083-square-foot office facility and a 4,000-square-foot retail space at The Star in Frisco. JLL’s Paul Whitman negotiated both leases on behalf of the tenant. Worthey Wiles of Lincoln Property Co. represented the landlord in the office transaction, and Robert Dozier, also of Lincoln, represented the landlord in the retail transaction. Founded in 1988, PlainsCapital Bank provides commercial banking, commercial lending, commercial real estate lending, treasury management, private banking, residential mortgages and trust and asset management services. The Dallas-based institution operates nine locations in the Dallas area.

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HospitalityTexas

The Stella Hotel to Anchor Lake Walk Town Center in Bryan

by Haisten Willis

BRYAN, TEXAS — The Stella, a 176-key hotel slated to open in March 2017, will anchor Lake Walk Town Center in Bryan. Lake Walk is a 180,000 square-foot development under construction near Texas A&M University. The property will feature a restaurant, cocktail bar and coffee shop, as well as an outdoor pool and over 10,000 square feet of meeting and event space. Designed by Dallas-based FAB Studios and Design DMU, The Stella will be operated by Trust Hospitality. Lake Walk includes a five-acre lake, waterfront park, pavilion and observation tower, along with more than two miles of hiking trails.

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LoansMultifamilyTexas

HFF Secures $43M Financing for Apartment Community in Dallas

by Haisten Willis

DALLAS — HFF has secured $43 million in financing for Alexan Fairmount, a 368-unit, Class A apartment community in Dallas’ Oak Lawn neighborhood. HFF worked on behalf of the borrower, Pure Multi-Family REIT LP, to place the 12-year, fixed-rate loan with Cigna Investments. Loan proceeds were used to acquire the property. Alexan Fairmount is situated one block east of the Dallas North Tollway adjacent to the Maple Avenue restaurant district. Completed in 2015, the five-story property wraps around a pool plaza, with additional amenities including an outdoor kitchen and grilling station, gym, tanning studio, dog park, cyber café, electronic vehicle charging stations and an access-controlled parking garage. Alexan Fairmount’s one- and two-bedroom units include keyless entry, 10-foot ceilings, granite countertops, wine racks and stainless steel appliances. John Brownlee and Michael Cosby led the HFF debt placement team representing the borrower.

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IndustrialTexas

NAI Partners, Colliers Broker Sale of 17.4-Acre Land Site in Houston

by Haisten Willis

HOUSTON — Carolyn Maxey, Trustee has sold a 17.4-acre undeveloped land tract at 700 Almeda Genoa Road in Houston to McKee Tessa LLC. The site is located 1.5 miles west of Highway 288 in south Houston. Michael Keegan and Clay Pritchett of NAI Partners represented the seller, Carolyn Maxey, Trustee, and Chase Spence of Colliers International represented the buyer, McKee Tessa LLC.

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306-riverfront-district-kokomo-in
IndianaMidwestMixed-UseMultifamilyRetail

Flaherty & Collins Properties Breaks Ground on $32M Mixed-Use Development in Kokomo, Indiana

by Amy Works

KOKOMO, IND. — Flaherty & Collins Properties has broken ground on 306 Riverfront District, a $32 million mixed-use redevelopment of the former Apperson Brothers car factory and surrounding property into a luxury apartment community. Slated for completion in winter 2018, the property will feature 198 apartment units and 4,800 square feet of retail space. The residential units will feature granite countertops, pendant lights, programmable thermostats, nine-foot ceilings, 42-inch kitchen cabinets and high-efficiency washer and dryer units. The community will feature 6,800 square feet of amenities, including a heated pool with deck, courtyard with grilling stations, fire pit, outdoor kitchen and dining area, decorative lighting, club room with kitchen, fitness club, pet walk, e-lounge and bike storage areas. The Apperson Brothers factory was originally built in 1906 and housed the Apperson Automobile Co. until 1926. The property was then used as an industrial supply warehouse until it closed in 2007.

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LoansMidwestOfficeOhio

Berkadia Secures $92M in Financing for American Greetings Headquarters in Suburban Cleveland

by Amy Works

WESTLAKE, OHIO — Berkadia has secured $92 million in financing for the new headquarters of American Greetings Corp. in the Cleveland suburb of Westlake. The borrower was Ohio-based H&L Property Co. The 10-year loan, which Bank of America Merrill Lynch provided, features a 4.8 percent fixed interest rate, 65 percent loan-to-value ratio and 25-year amortization schedule. The new headquarters is located on a 13.5-acre property at One American Road in Crocker Park, a 1.2 million-square-foot mixed-use development in Westlake.

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IndustrialMidwestMinnesota

Signature Associates Arranges Two Industrial Sales Totaling 22,350 SF in Kalamazoo

by Amy Works

KALAMAZOO, MICH. — Signature Associates has brokered two industrial sales totaling 22,350 square feet in Kalamazoo. In the first transaction, Hinkle Properties sold a 15,930-square-foot industrial property, located at 433 Ransom St., to WAI LLC for an undisclosed price. Jeff Chrystal of Signature Associates represented the seller in the deal. In the second transaction, Raitt Corp. sold a 6,420-square-foot industrial building, located at 3785 Franklin St., to Mikowski Holdings Co. for an undisclosed sum. Chrystal and Eric Holdorf of Signature Associates represented the seller in the transaction.

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MichiganMidwestOffice

NAI Wisinski Negotiates Acquisition of 4,800 SF Office Building in Grand Rapids

by Amy Works

GRAND RAPIDS, MICH. — NAI Wisinski of West Michigan has arranged the acquisition of an office building located at 3330 Grand Ridge Drive NE in Grand Rapids. Redstone Homes, a West Michigan-based homebuilder, acquired the 4,800-square-foot building for an undisclosed sum. The buyer plans to consolidate its sales and operations offices at the property. Jeremy Veenstra of NAI Wisinski of West Michigan represented the buyer, while Anne Wisinski-Rosely and Joshua Jacobs, also of NAI Wisinski, represented the undisclosed seller in the transaction.

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IndianaMidwestOfficeRetail

Bradley Co. Brokers Four Leases in Fort Wayne

by Amy Works

FORT WAYNE, IND. — Bradley Co. has arranged four leases for office and retail space in Fort Wayne. Kelly Castle of Bradley Co. represented the tenant in each transaction. Levitate LLC leased 2,709 square feet of office space at 803 S. Calhoun St.; Deck Factory LLC inked a deal for retail space at 1509 Goshen Road; Mad Anthony Investments LLC leased 2,393 square feet of retail space at 2701-2703 Broadway; and RITS Ltd. Brokers signed a lease for retail space at 6127 Stellhorn Road within Maplewood Plaza. The names of the landlords were not released.

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red-hoek-point-nyc
New YorkNortheastOffice

Thor Equities Begins Site Work for 7.7-Acre Waterfront Office Campus in Brooklyn

by Amy Works

NEW YORK CITY — Thor Equities has started the site work for Red Hoek Point, a 7.7-acre waterfront office campus located in Brooklyn’s Red Hook neighborhood. Designed by Foster + Partners, the project will feature two heavy timber buildings totaling 795,000 square feet of creative office space on three levels and 23,000 square feet of retail and restaurant space. Additionally, the design features 125,000-square-foot open floor plates. Additional amenities at the office campus will include a central open courtyard, a 1.8-acre green rooftop on each building, walking/meeting trails, bike valet, on-site underground parking and a kayak launch. The site is surrounded by water on three sides and offers clear views of the Statue of Liberty and Lower Manhattan.

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