FORT WORTH, TEXAS — Amazon has leased 318,488 square feet of industrial space at 4601 Gold Spike Drive in Fort Worth. The space is located within the Railhead Industrial Park. CBRE’s Ryan Keiser represented Amazon in the transaction, while Holt Lunsford Commercial’s Donnie Rohde and Matt Carthey represented the owner, Prologis.
DALLAS — Uplift Education has purchased a seven-acre tract of land located at the northwest corner of I-30 and Ferguson Road in east Dallas. Horizons Hospitality was the seller. Eddie Liebman with The Weitzman Group handled negotiations for the seller in cooperation with Craig Phelps of JLL, who represented the buyer. Uplift Education, which operates a network of public charter schools serving 14,000 students in under-served areas across north Texas, will develop an elementary school at the site.
RICHARDSON, TEXAS — MBP Capital Inc. has purchased Frances Way Villas in Richardson. The Class B multifamily property includes 200 units with an average size of 968 square feet. The majority of units include two or three bedrooms. The property will be rebranded as “The Beverly” and will undergo a $2.5 to $2.7 million renovation, averaging about $12,000 per unit. Renovations will include new signage, a fully remodeled office, security gates, fitness center, sand volleyball pit, splash pad, dog park, patio and balcony cedar fencing. The interiors will also be renovated with the addition of washer and dryer connections, new paint, black appliances, wood-style flooring, new cabinetry and brushed nickel fixtures. The MBP team includes Mike Phillips, Ryan Heddleston, Cathy Finn and Mark Christ. A new DART rail line is located less than two miles away from Frances Way Villas. The property is also near the new CityLine mixed-use development, which when complete will house 12,800 employees.
DALLAS — Law firm Palmer & Manuel LLP has leased 9,006 square feet of office space in Campbell Centre North Tower, located at 8350 N. Central Expressway in Dallas. Cribb Altman, Robbie Baty and Bill McClung with Cushman & Wakefield represented Palmer & Manuel in the transaction.
ROYAL OAK, MICH. — Beaumont Health is set to demolish the Northwood Shopping Center and nearly two dozen row houses in Royal Oak to make way for a new development. Plans call for the demolition of the buildings, situated on the southwest corner of 13 Mile Road and Woodward Avenue, to begin July 1. Beaumont hasn’t disclosed any official plans for the area but says the new development will likely be mixed-use. Demolition costs are $2.6 million, excluding environmental cleanup costs. The 213,000-square-foot shopping center was built in 1954 and is 59 percent occupied by 12 tenants. The remaining tenants are on month-to-month leases. Beaumont has owned the property since 1982.
CHICAGO — CBRE has arranged the sale of three assets in Chicago in separate transactions totaling $8.5 million. New York-based Jenel Management Corp. purchased the mixed-use buildings and has plans to demolish all three properties and build a new retail and residential development. Joe and Annie Doppes sold a 9,885-square-foot property and a 4,800-square-foot lot at 1437-36 N. Wells St. The building was comprised of 5,660 square feet of commercial space and three residential units. Jenel also purchased a 5,000-square-foot retail property and 2,400-square-foot lot, located at 1435 N. Wells St., from Metro Park. The last property, situated at 1443 N. Wells St., is a 4,927-square-foot property with a 2,400-square-foot lot that was acquired from an undisclosed seller. Keely Polczynski, James Otto and Michael Gendell of CBRE brokered the transactions.
ORLANDO, FLA. — Orlando-based Williams Co. Building Division has broken ground on a new $60.7 million school located at 701 W. Livingston St. in downtown Orlando on behalf of Orange County Public Schools. The unnamed school will serve roughly 1,211 preschool to eighth grade students on its 14-acre campus. The preschool wing is being supported by the Harris Rosen Foundation and a branch of the Boys & Girls Club. Construction on the 190,526-square-foot facility is slated for completion in summer 2017 in time for the school’s fall 2017 opening. Orlando-based Baker Barrios Architects designed the project.
PRINCETON, IND. — Capital One has provided a $5.9 million fixed-rate loan to refinance a skilled nursing facility in Princeton, approximately 150 miles southwest of Indianapolis. Joshua Rosen of Capital One originated the 35-year HUD 232/223(f) financing. The Waters of Princeton consists of 45 semi-private and five private rooms. The facility was built in 1968 with an addition completed in 1974. The borrower in the transaction was undisclosed.
WESTLAKE, OHIO — Newmark Grubb Knight Frank (NGKF) has brokered the purchase of an industrial property in Westlake, approximately 15 miles southwest of Cleveland, for $4.5 million. The property, located at 1006-1008 Crocker Road, features 23,000 square feet of office space and 147,000 square feet of warehouse and manufacturing space. The facility, situated on 18.7 acres, also includes a retention pond and running trails. Chris Haas, president and CEO of All Pro Trucking/All Pro Freight Systems, purchased the facility under 1006-1008 Crocker Road LLC. Bonne Bell, which was formerly headquartered in the building, was the seller. Mike Petrigan of NGKF represented the buyer in the transaction, and Kevin Kelly of Cushman & Wakefield/CRESCO represented the seller.
MORRISVILLE AND RALEIGH, N.C. — Cushman & Wakefield has arranged the largest industrial/office sale in the Triangle region year-to-date, according to Real Capital Analytics. The sale included EastRidge at Perimeter Park in Morrisville and Spring Forest Business Center in Raleigh. The properties span 11 single-story buildings totaling 634,617 square feet. The sales price was not disclosed. The portfolio was 83 percent leased at the time of sale to 24 tenants including IXIA, Adreima, LabCorp, Ascom North America and Allstate. David Finger and Sara Owen of Cushman & Wakefield represented the seller in the transaction. The buyer, Somerset Properties, will retain Hillman Duncan and Dennis Hurley of Cushman & Wakefield to lease the two properties.
