Property Type

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

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

1101 and 1111 16th St. N.W. Washington DC

District of Columbia Office Southeast

Akridge, Stars Investments to Convert Two Properties in D.C. into One Trophy Office Building

by John Nelson September 18, 2015

WASHINGTON, D.C. — Akridge and its partner, Stars Investments, plan to redevelop 1101 and 1111 16th St. N.W. into one freestanding, 100,000-square-foot trophy office building. One block away from the new Fannie Mae headquarters and within view of the White House, the new property will feature a fitness center, rooftop terrace and parking. Akridge recently purchased the two assets from the American Beverage Association and the American Association of University Women. Eric Berkman, Steve Gichner and John Boland of Cushman & Wakefield brokered the transaction on behalf of the sellers. The new 1101 16th Street building will deliver in 2017.

September 18, 2015

Georgia Industrial Southeast

Trammell Crow, Clarion to Develop 1.8M SF Industrial Park in Northeast Georgia

by John Nelson September 18, 2015

JEFFERSON, GA. — Trammell Crow Co. (TCC) and Clarion Partners have formed a joint venture to purchase 122.5 acres of land along I-85 in Jefferson, roughly 60 miles northeast of Atlanta. The site will house Jefferson Mill Business Park, a new two-phase, Class A industrial park that will span nearly 1.8 million square feet. Phase I will feature an 822,257-square-foot bulk cross-dock warehouse and a 250,569-square-foot rear load distribution center. Construction will commence by the end of 2015 and be completed in 2016. Phase II of the park will be a 720,836-square-foot speculative or build-to-suit bulk cross-dock warehouse. Ben Logue and Price Weaver of Colliers International brokered the land sale and will also handle the leasing and marketing of the site on behalf of TCC and Clarion Partners.

September 18, 2015

Loans Multifamily Southeast Student Housing Virginia

Berkadia Arranges $48M Loan for Student Housing Property Near Virginia Tech

by John Nelson September 18, 2015

BLACKSBURG, VA. — Berkadia has arranged a $48 million loan for The Edge Apartment Homes, a newly constructed student housing property near Virginia Tech in Blacksburg. John M.R. Reed of Berkadia secured the 20-year, fixed-rate loan on behalf of the borrower, Related Properties I LLC, an affiliate of SAS Builders Inc., through a life insurance company. The fully occupied, 252-unit property features two-, three- and four-bedroom apartments and townhomes. Units are fully furnished and contain a washer and dryer. Amenities at the student housing community include high-speed internet, a fitness center, yoga room, student center, heated swimming pool, picnic area and a two-story clubhouse.

September 18, 2015

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