Property Type

Metropolitan Capital Advisors Arranges $1M Loan for Restaurant in Waco

by Haisten Willis April 29, 2016

WACO, TEXAS — Metropolitan Capital Advisors has arranged a $1 million fixed-rate senior mortgage for a 4,384-square-foot restaurant in Waco. Twisted Root Burger Co. occupies 100 percent of the building, which fronts I-35 adjacent to Baylor University. The loan includes a 4.3 percent interest rate with a 25-year amortization schedule. The sponsor recently executed a 15-year triple net lease for the property with Twisted Root Burger Co. Twisted Root is the first of three restaurant concepts created by Jason Boso and Quincy Hart. Their flagship location in Dallas opened in late 2005 in the Deep Ellum District. Boso and Hart later appeared on Diners, Drive-Ins, and Dives with Guy Fieri, and they’ve since opened 11 other stores over the last eight years.

April 29, 2016

Industrial Texas

Lee & Associates Negotiates 26,000 SF Industrial Sale in Dallas

by Haisten Willis April 29, 2016

DALLAS — Lee & Associates has negotiated the sale of a 26,000-square-foot industrial building located at 11281 Indian Trail in Dallas. Adam Graham and Ken Wesson of Lee & Associates Dallas/Fort Worth office represented the seller, EastGroup Properties, in the transaction. Jim Svidron with NAI Robert Lynn represented the buyer, Abdul Khan.

April 29, 2016

Office Texas

Cushman & Wakefield Arranges Office Lease in Dallas

by Haisten Willis April 29, 2016

DALLAS — Jordan & Skala Engineers Inc. has renewed and expanded its office lease to a total of 16,107 square feet in Briargrove Place. The property is located at 17855 N. Dallas Parkway in Dallas. Emily Hoffman with Cushman & Wakefield represented Jordan & Skala Engineers in the transaction.

April 29, 2016

Retail Texas

The Silver Group Brokers Sale of O’Reilly Auto Parts in Metro Dallas

by Haisten Willis April 29, 2016

GARLAND, TEXAS — The Silver Group has brokered the sale of a single-tenant O’Reilly Auto Parts retail store located at 5550 Lavon Drive in Garland. The property consists of a newly constructed 6,800-square-foot retail building on a one-acre parcel of land along State Highway 78 just north of the Firewheel Town Center. O’Reilly is situated between a CVS/Pharmacy and Firestone Tire, near the intersection of Bunker Hill Road. The lease includes a 15-year term with periodic rental increases. Greg Cunha of The Silver Group was the only broker involved in the transaction. The buyer and seller were unnamed.

April 29, 2016

Restaurant Retail Texas

Vitorino Group Negotiates Sale of Dunkin’ Donuts Ground Lease in Arlington

by Haisten Willis April 29, 2016

ARLINGTON, TEXAS — The Vitorino Group has negotiated the sale of a Dunkin’ Donuts ground lease in Arlington. The prior building on the property, a City of Arlington fire station, was razed and a portion was ground leased to Star Dunkin’ LP, an entity controlled by Jerry Jones and Troy Aikman. Located on Cooper Street, the property was built in 2014 and was secured by a 15-year net lease, which included a guaranty from the parent company. The offering was sold to an out-of state buyer from the West Coast. The Vitorino Group cooperated with an outside agent from Colorado. The buyer utilized a 1031 tax-deferred exchange.

April 29, 2016

Kansas Midwest Multifamily Seniors Housing

Presbyterian Manors of Mid-America Completes $35M Seniors Housing Expansion in Wichita

by Christina Cannon April 29, 2016

WICHITA, KAN. — Presbyterian Manors of Mid-America, a nonprofit operator of 18 communities in Missouri and Kansas, has completed a $35 million expansion at Wichita Presbyterian Manor, a continuing care retirement community in Wichita. The expansion consisted of two phases, both of which started in 2014. In the first phase, the owner added 24 memory care suites, 30 skilled nursing suites and 20 private “post-acute to home” rehabilitation rooms, as well as a new kitchen, bistro, library, beauty salon and barbershop. The second phase of development added The Westerly Residences, which included 90 independent living apartments and an array of new amenities.

April 29, 2016

Arizona Loans Multifamily Western

Greystone Provides $45.5M in Loans for Two Multifamily Communities in Phoenix

by Nellie Day April 29, 2016

PHOENIX — Greystone has provided a total of $45.5 million in financing for two multifamily communities in Phoenix. The first loan was $26.2 million for Granite Bay. The second was $19.3 million for Valencia Park. Both Fannie Mae DUS loans feature 10-year terms with 30-year amortization periods. Tony Spaeth of Greystone originated the loans.

April 29, 2016

Industrial Midwest Wisconsin

CenterPoint to Develop 200,696 SF Industrial Building in Wisconsin

by Christina Cannon April 29, 2016

PLEASANT PRAIRIE, WIS. — CenterPoint Properties will develop a new 200,696-square-foot industrial building within LakeView Corporate Park in Pleasant Prairie, approximately 40 miles south of Milwaukee. The speculative building, LakeView Corporate Center, can accommodate up to three tenants. The facility will feature LED lighting, 32-foot clear heights, 20 exterior docks, two drive-in doors, 18 trailer parking spaces and office space to suit. LakeView Corporate Park is an 11 million-square-foot development that is home to over 80 tenants. The project is currently spread over 2,400 acres and has more than 200 acres remaining for future development.

April 29, 2016

Illinois Midwest Multifamily

Interra Realty Brokers $2.5M Sale of 24-Unit Apartment Building in Chicago

by Christina Cannon April 29, 2016

CHICAGO — Interra Realty has brokered the $2.5 million sale of a multifamily property in Chicago’s Rogers Park neighborhood. The 24-unit property, located at 7526 N. Seeley Ave., features one- and two-bedroom units. Recent renovations include new porches, a new HVAC system, granite countertops, stainless steel appliances, hardwood floors and all new copper plumbing and electric wiring. A group of local investors sold the property to an undisclosed buyer. Interra Realty was the sole broker in the transaction.

April 29, 2016

California Industrial Western

Panattoni Development Begins Construction of Gateway80 Business Park in Fairfield

by Nellie Day April 29, 2016

FARFIELD, CALIF. — Panattoni Development Co. has started construction of Gateway80 Business Park, a 1 million-square-foot spec industrial park in Fairfield. The project is situated between San Francisco and Sacramento, 12 miles from the Napa Valley wine region. The 52.4-acre site is just off Interstate 80. It will consist of two 430,500-square-foot buildings and a 178,000-square-foot building, all designed and built to LEED standards. The developers expect the project will be complete and available for tenancy by the end of the year. JLL’s Matt Bracco, Glen Dowling and Chris Neeb will handle the leasing.

April 29, 2016

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