Property Type

Brandywine Realty Trust to Build 10,000 SF Retail Center in New Jersey

by Amy Works September 18, 2015

MOUNT LAUREL, N.J. — Brandywine Realty Trust plans to develop a 10,000-square-foot retail center at 7000 Midlantic Drive in Mount Laurel. Pre-leased tenants include Anthony’s Coal Fired Pizza, Jimmy John’s Gourmet Sandwiches and Qdoba Mexican Grill. The developer is expected to break ground on the project this month with construction ending in May 2016. The retail property is being paired with an adjacent Springhill Suites Marriott, also developed by Brandywine. MSC Retail is providing site selection representation for the property, as well as pre-development consulting and leasing services.

September 18, 2015

Loans Retail Texas

Q10 KDH Provides $44M Financing for Centre at Bunker Hill in Houston

by Haisten Willis September 18, 2015

HOUSTON — Q10 KDH Vice President Matt Franke has arranged $44 million in financing for Centre at Bunker Hill in Houston. The multi-anchor, Class A retail property is 100 percent occupied and includes 430,820 rentable square feet.

September 18, 2015

Office Texas

McCarthy Begins Construction on Houston Methodist Alkek Building Renovation Project

by Haisten Willis September 18, 2015

HOUSTON — McCarthy Building Cos. has begun work on the Houston Methodist Alkek Level 9 Universal Care renovation in the Texas Medical Center. The project is led by McCarthy’s Houston-based specialized solutions group, which concentrates on the Texas Medical Center and surrounding institutions focused on healthcare, laboratory and higher education projects. The demolition and renovation project will convert level nine of the Houston Methodist Alkek building into a 17,000-square-foot universal care unit/ICU with 19 inpatient beds. The project also includes the demolition and replacement of equipment on level 10 and the roof of the building. Preston Hodges and McCarthy project superintendent Michael Kacal lead the Houston SSG.

September 18, 2015

Office Texas

Harwood Arranges 25,267 SF Office Lease in Dallas

by Haisten Willis September 18, 2015

DALLAS — Real estate developer Harwood International has signed a new lease agreement in the district of Harwood with the law firm McDermott Will & Emery LLP. Harwood International signed a 25,267-square-foot lease at Saint Ann Court. Jihane Boury of Harwood International negotiated the lease with Jim Graham of Colliers International. McDermott Will & Emery moved from their Turtle Creek offices to Harwood Sept. 1. With more than 1,000 lawyers, the firm has offices in Boston, Brussels, Chicago, Dallas, Düsseldorf, Frankfurt, Houston, London, Los Angeles, Miami, Milan, Munich, New York, Orange County, Paris, Rome, Seoul, Silicon Valley and Washington, D.C. Designed by Los Angeles Architect Shimoda Design Group, the 26-story, Class A office tower offers amenities including Saint Ann Restaurant & Bar, The Samurai Collection and Mercat Bistro.

September 18, 2015

Industrial Texas

NAI Wheeler Arranges Sale of Former Woodworkers Paradise Facility in East Texas

by Haisten Willis September 18, 2015

LUMBERTON, TEXAS — NAI Wheeler has arranged the sale of the former Woodworkers Paradise facility located in Lumberton. The property spans 6,900 square feet and sits on over 4.5 acres with frontage on Highway 69 and Village Creek Parkway. Direct Integrity Services will occupy the facility. Direct Integrity performs pipeline testing services. Lee Wheeler and Erica Goss of NAI Wheeler represented the seller in the transaction.

September 18, 2015

Office Texas

Henry S. Miller Arranges Sale of Two Properties in Metro Dallas

by Haisten Willis September 18, 2015

IRVING AND FORT WORTH, TEXAS — Bill Bledsoe of Henry S. Miller has arranged two property sales in metro Dallas. Bledsoe brokered the sale of a 0.77-acre office pad site at 727 W. Airport Freeway in Irving. The property housed a 3,939-square-foot building and features freeway frontage. Hangrove Interests purchased the property from VTC Westway Investments and will refurbish the office building for a long-term tenant. Bledsoe also represented the seller in the disposition of a 10-acre site in Fort Worth. The buyer may develop the property, located at 8421 Meadowbrook Drive, into residential space. Ernest Jakes of Jakes Realty Group represented the buyer in this transaction.

September 18, 2015

Industrial Midwest Ohio

CBRE Brokers Sale of Industrial Portfolio for $26.5M

by Christina Cannon September 18, 2015

CINCINNATI, CLEVELAND AND COLUMBUS — CBRE Group Inc. has arranged the sale and financing of a five-building industrial portfolio for Cintas Corp. Diamond Properties bought the portfolio for $26.5 million. The five properties, which are located in Cleveland, Columbus and Cincinnati, total 569,225 square feet. The buildings are 100 percent leased. The properties were previously occupied by Cintas’ document storage and imaging business, which Cintas sold in November 2014. CBRE’s investment properties team and global workplace solutions team represented Cintas in the transaction. They also sourced the buyer. CBRE’s Midwest debt and structured finance team secured the financing on behalf of the buyer. Based in Cincinnati, Cintas is best known for designing and manufacturing corporate uniforms.

September 18, 2015

Illinois Midwest Office

I.M. Construction Completes Two Buildings in MeadowPark Office Complex in Suburban Chicago

by Christina Cannon September 18, 2015

NORTHBROOK, ILL. — I.M. Construction Group (IMCG) has completed two of four office buildings within the new MeadowPark development located at Techny Road and Founders Drive in Northbrook, a northern Chicago suburb. MeadowPark is a 52,000-square-foot, 5.5-acre development. IMCG completed the 12,600-square-foot, single-story office property leased to Bright Horizons Daycare as well as an 18,000-square-foot facility leased to Lurie Children’s Hospital. The Lurie Children’s facility will serve as the hospital’s second largest outpatient center in the Chicago area. IMCG will construct the two remaining speculative buildings this fall. The projects will feature masonry construction as well as eco-friendly options, including bioswales, which collect and filter stormwater through vegetation. Tenants of MeadowPark also have the option to incorporate solar panels and geothermal heating. IMCG is a joint venture of Insite Construction and The Missner Group, a full-service construction firm. Leading the construction team for IMCG are Bob Nomellini, the firm’s president, and Bill Uchyn, the Missner Group’s project superintendent. Center Line Architects is providing architectural services, and Manhard Consulting is the civil engineer. Cushman & Wakefield is the project developer.

September 18, 2015

Kansas Midwest Multifamily

Missouri Valley REIT Acquires 696 Apartment Units in Greater Wichita, Kan.

by Christina Cannon September 18, 2015

WICHITA, KAN. — NAI Martens has brokered the sale of five apartment properties totaling 696 units in the Wichita area for an undisclosed price. Missouri Valley REIT Inc., a private real estate investment trust, was the buyer and Olderbak Enterprises South LLC was the seller. The acquisition was Missouri Valley REIT’s largest to date. The acquisition included Eastgate Apartments, High Point East Apartments and Morgan’s Landing in Wichita; Springcreek Apartments in Derby, Kan., and Northridge Crossing in McPherson, Kan. The purchase of all five properties is a continuation of the REIT’s strategy to invest in Class B multifamily assets in the Midwest and Upper Midwest. Nathan Farha and Jeff Englert of NAI Martens brokered the transaction. The name Missouri Valley REIT stems from its strategy of investing in markets that are substantially similar to cities where universities in the Missouri Valley Conference are located. These communities are generally in regions with a stable, growing economy.

September 18, 2015

Hospitality Midwest Wisconsin

Marcus & Millichap Brokers $3.5M Sale of Hotel Property in Wisconsin Dells

by Christina Cannon September 18, 2015

WISCONSIN DELLS — Marcus & Millichap has brokered the sale of the Ramada Wisconsin Dells, a 71-room hotel. The Ramada sold for $3.5 million and is located at 1073 Frontage Road East in the Wisconsin Dells, a popular tourist destination along the Wisconsin River in the south central part of the state.The property is 37,909 square feet. Jon Ruzicka of Marcus & Millichap represented the undisclosed seller. Ruzicka, along with Matthew Fitzgerald, also represented the unidentified buyer. The deal marks the second hotel property sale that Ruzicka has brokered in the Wisconsin Dells over the past year.

September 18, 2015

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