HOUSTON — SOAP Hand Car Wash has leased a 31,446-square-foot outparcel at Shoppes at Memorial Villages, located at I-10 and Wirt Road in Houston. SOAP Hand Car Wash is a local Houston business owned by J. Ryan Alcorn. SOAP uses as few as 10 gallons of water per wash, while the average tunnel car wash uses between 40 and 55 gallons, and washing a car at home can use 100 gallons or more. SOAP is scheduled to open this summer. The landlord, Weingarten Realty Investors, was self-represented by Brody Farris in the deal. Clay Graham of Fox & Graham Real Estate represented SOAP.
JACKSONVILLE, FLA. — Hines has acquired 105 acres of land located at the intersection of I-295 and J.T. Butler Boulevard in Jacksonville’s Southside submarket. The Houston-based developer and investor will build a master-planned project on the site that will feature residential, office and retail space, as well as a central lake and green space. Along with Hines, the project team includes architect RTKL Associates and engineer ETM. Hines currently has $87 billion of assets under management and 104 developments underway. The firm’s current property and asset management portfolio includes 531 properties, representing more than 186 million square feet.
CHARLOTTE, N.C. — TIER REIT, a Dallas-based REIT, has invested $20 million to renovate Bank of America Plaza, a 40-story, Class A office tower located at the intersection of Trade and Tryon streets in Charlotte. The 891,000-square-foot tower is 92 percent leased to tenants such as Bank of America, Alston & Bird, Shumaker Loop & Kendrick and SCOR Global Life Americas. The renovation includes expanding and renovating the main building lobby and adding close to 20,000 square feet of street-level retail space. The design team includes Charlotte-based architect Redline Design Group, project manager Tracy Haynie of Trinity Partners and general contractor Rodgers Builders. Rhea Greene of Trinity Partners handles leasing for the office tower, and Mike Lucier of CBRE handles leasing for the tower’s retail portion.
MABLETON AND CONYERS, GA. — BayView Advisors has arranged the $9.2 million sale of a two-property portfolio of Pak-It-Inn self storage facilities in the Atlanta suburbs of Mableton and Conyers. The portfolio includes 155 climate controlled units, 727 non-climate controlled units and one retail unit. Jay Crotty and Thomas Doyle of BayView Advisors represented the seller, Pak-It-Inn Self Storage Inc., and the buyer in the transaction.
CHARLOTTE, N.C. — Cushman & Wakefield has brokered the $7.4 million sale of the Accenture Credit Services Building, a 60,447-square-foot, single-tenant office building in Charlotte. The single-story office building is located at 8336 Forest Point Blvd. within the Forest Park mixed-use development. Rob Cochran and Jared Londry of Cushman & Wakefield’s Charlotte-based capital markets group represented the undisclosed seller in the transaction. The buyer was a private investor.
RALEIGH, N.C. — CBRE|Raleigh has arranged the $5.3 million sale of a 15,090-square-foot medical office building located at 1921 Falls Valley Drive in Raleigh. Glen Allen, Va.-based Capital Square Holdings purchased the owner-occupied building in a sale-leaseback transaction. Jim McMillan of CBRE|Raleigh represented the seller in the transaction.
MIDDLETON, WIS. — Walker & Dunlop Inc. has completed a $32.3 million refinancing loan for an office property in Middleton, approximately six miles west of Madison. Spectrum Brands, a global consumer products company that includes brands such as George Foreman and Black + Decker, is using the capital to refinance the construction loan for its headquarters, which was built in 2013. The 222,000-square-foot building is four stories. The loan was structured with a five-year term, a 79 percent loan-to-value and a debt service coverage ratio of 1.44.
DETROIT — Woodward Center LLC, a subsidiary of Farbman Group, has sold Lofts @ Woodward Center, a 61-unit apartment building in Detroit. A subsidiary of Bedrock Real Estate Services, 1448 Webward Avenue LLC, acquired the property for an undisclosed price. Farbman Group purchased the building located at 1448 Woodward Ave. in 1999. Lofts @ Woodward Center features 18-foot ceilings, washers and dryers in each unit, on-site parking, open loft style floor plans and is pre-wired for cable and high-speed Internet access. The residential community also includes 15,000 square feet of ground-floor retail.
OLATHE, KAN. — Mainstreet, an Indiana-based skilled nursing developer, and The Ensign Group, a California-based operator, have opened The Healthcare Resort of Olathe, a 100-bed skilled nursing facility in Olathe, a suburb of Kansas City. Construction started on The Healthcare Resort of Olathe in July 2014 and was completed in October 2015. Estimated development costs for the 68,3530-square-foot community were $16.4 million.
NORTHBROOK, ILL. — Foresite Realty Partners LLC has brokered the sale of a six-building office complex in Northbrook, approximately 25 miles northwest of Chicago, for an undisclosed price. Northbrook Court Professional Plaza, located at 1535 Lake Cook Road, totals 74,040 square feet and was constructed between 1979 and 1981. A mix of medical and professional office tenants occupy the buildings. The buyer was a Midwest value-add office investment company, and the seller was undisclosed. Ryan Nelson and Greg Nieder of Forsite Realty represented the seller in the transaction.