FARMERS BRANCH, TEXAS — Farmers Branch city manager Charles Cox has promoted Allison Cook to director of economic development and tourism for the city of Farmers Branch. Cook has been an employee of Farmers Branch since 2011, when she started the first city program focused on business retention. She was later promoted to economic development manager. The previous director of economic development and tourism John Land, has been promoted to deputy city manager. Cook previously worked for Catalyst Commercial, a real estate analytics company, and was also the leasing manager for another commercial real estate company focused on retail development in the Dallas/Fort Worth area.
OAK CREEK, WIS. — Colliers International has arranged the lease and sale of the former headquarters of Caterpillar’s Global Mining division located at 6744 S. Howell Ave. in Oak Creek. Master Lock Co. leased the two-building, 120,883-square-foot office campus under a long-term agreement. Master Lock will relocate from its current Oak Creek location in early 2017 after tenant improvements are completed at the property. Additionally, Bucyrus Wisconsin Property, a subsidiary of Caterpillar Inc., sold the property to W.P. Carey for $16.8 million. Tom Shepherd and Matthew Stauber of Colliers represented Caterpillar in the lease and sale of the campus.
ATLANTA — Federal Capital Partners (FCP) and Westbridge Partners have broken ground on Stockyards, an adaptive renovation of three historic warehouses in Atlanta’s West Midtown district. Expected to open in the first quarter of 2017, Stockyards is more than 65 percent pre-leased to office and retail tenants including The Painted Duck, a sister entertainment concept to The Painted Pin; Fitzgerald & Co., an Atlanta-based advertising agency; Momentum Worldwide, an Atlanta-based sports marketing firm; Weber Shandwick, a global communications firm; Mannington Mills Inc., a flooring and carpeting showroom; and a new restaurant concept from Charleston-based The Indigo Road. Stockyards will occupy three acres on the corner of 10th Street and Brady Avenue. Designed by architectural firm ai3, the development will total 95,000 square feet of Class A office space, 13,000 square feet of street-level restaurant space, 25,000 square feet of retail space on the lower level and a 400-space parking deck. Gay Construction is Stockyards’ general contractor, Cushman & Wakefield is handling the office leasing and SunTrust Bank, represented internally by Mark Hancock, is the project’s senior lender.
WEST CHICAGO, ILL. — Flolo Corp. has acquired an industrial property located at 1400 Harvester Road in West Chicago. The company purchased the property from Acts Four Thirty Two LLC for an undisclosed price. Flolo Corp. will relocate and consolidate from its current facilities at 1061 E. Green St. and 420 Podlin in Franklin Park, Ill., to the new 42,411-square-foot facility. The buyer is a multi-faceted electro-mechanical repair facility, power transmission distributor and custom system integration company. John Hamilton, Mike Sedjo and Jack Brennan of CBRE represented the buyer, while David Prell, also of CBRE, represented the seller in the deal.
MILFORD, OHIO — MCR Development, a hotel owner-operator, has completed the renovation of Homewood Suites by Hilton Cincinnati-Milford, a 76-room, select-service hotel located at 600 Chamber Drive in Milford. The newly remodeled hotel was updated as part of Hilton’s design initiative and multi-faceted brand enhancement program that focuses on updating dining and lounging areas, as well as introducing new brand standards. The hotel’s dining area now features new and modern furniture, flooring and lighting, and the business center was redesigned to create an inviting work space for guests. Additionally, the hotel now features an outdoor kitchen and lounge complete with a grilling area and comfortable seating.
TAMPA, FLA. — Crescent Communities has opened Crescent Westshore, a new 374-unit luxury apartment community located at 2202 N. Lois Ave. in Tampa’s Westshore district. Situated near the intersection of Lois Avenue and Boy Scout Boulevard, Crescent Westshore features studio, one-, two- and three-bedroom residences ranging from a 528-square-foot studio to a 1,431-square-foot, three-bedroom apartment. Unit interiors include stainless steel appliances, quartz countertops, tile backsplashes, quiet-close cabinets and drawers and full-size washer and dryers. Community amenities include a two-story clubhouse with an outdoor elevated terrace and three courtyards. The community also features a meeting area with a flat screen TV, shared indoor/outdoor summer kitchen, dog run for small and large dogs, two saline pools, a fitness center and an 18-foot, aluminum-plated sculpture with an LED lighting core. The sculpture is situated at the front of the community.
MILWAUKEE — The Dickman Company/CORFAC International has arranged a lease between Northwest Holdings Corp. and Sellars Absorbent Materials Inc. at 7300 N. 60th St. in Milwaukee. Sellars Absorbent Materials will occupy 104,627 square feet of industrial/office space at the property. Samuel Dickman Jr., Samuel Dickman, Zach Noble and TJ Huenerbein of The Dickman Company brokered the lease.
WOODSTOCK, GA. — Milestone Apartments REIT has agreed to purchase Park 9 Apartments, a 275-unit, Class A apartment community located on Ridgewalk Parkway in Woodstock, a northwest suburb of Atlanta. The property is situated near The Outlet Shoppes at Atlanta and I-575. The undisclosed seller has agreed to sell Park 9 to Milestone for $47 million. Built in 2016, Park 9 is currently 95 percent occupied with average monthly rents of approximately $1,200. The community features nine-foot ceilings, stainless steel appliances, granite countertops and direct-access garages. Amenities include a clubhouse with a cyber café, a salt-water swimming pool with beach entry and resort-style cabanas, fitness center, outdoor grilling area, bocce ball court, dog park, storage units and electric vehicle charging stations.
INDIANAPOLIS — Marcus & Millichap has brokered the sale of The Home Place Senior Apartments, an apartment property located at 6734 Millside Drive in Indianapolis. A private investor acquired the property from a limited liability company for $3.3 million. The property features 60 rental units. Darrell Johnson and Brent Silcox of Marcus & Millichap’s Indianapolis office represented the seller, while Shane Ryan McConnell of Marcus & Millichap’s Newport Beach, Calif., office represented the buyer in the transaction.
CHARLOTTE, N.C. — Armada Hoffler Properties, a publicly traded REIT based in Virginia Beach, Va., has entered into a joint venture with Southern Apartment Group to develop and own a new $45 million apartment community in Midtown Charlotte. The eight-story project will feature 225 apartment residences and a 350-space parking structure. Armada Hoffler and Southern Apartment Group plan to break ground on the property in the fourth quarter for a targeted completion date in mid-2018.