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OfficeOklahomaTexas

M&M Arranges Sale of Office Building in Oklahoma City

by Haisten Willis

OKLAHOMA CITY — Marcus & Millichap has arranged the sale of Mid America Business Park, a three-story, 84,373-square-foot office building located in Oklahoma City. Cody Payne of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a Fort Worth-based private partnership. The buyer is a private investor utilizing a 1031 tax-deferred exchange. Ron Hebert of Marcus & Millichap’s Dallas office partnered with Payne on the sale. Tom Mann of the firm’s Tulsa office is Marcus & Millichap’s broker of record in Oklahoma. Built in 2002, the property is located at 7919 Mid America Blvd., a few miles from downtown Oklahoma City. The Veterans Administration and CNI Administration Services anchor the property and account for 65 percent of the gross leasable area. Other tenants include AAR Services, Deaconess Home Care and Edward Jones.

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IndustrialOfficeTexas

General Assembly Relocating Headquarters in Arlington

by Haisten Willis

ARLINGTON, TEXAS — General Assembly Inc. has leased a single-tenant building in Dallas’ Great Southwest Industrial District in a move that will keep its operations in Arlington and get the entire business under one roof. General Assembly will relocate its operations to 1011 Oakmead Drive. The 6,615-square-foot office/warehouse space, located near I-30, more than doubles the amount of warehouse space for the professional merchandising services firm, which supports the retail industry with locations in 19 states and the District of Columbia. The company assembles high-end consumer products. The headquarters team is moving from the Vandergriff Town Center at 200 N. Mesquite St. and warehouse workers are relocating from 320 Dixon Lane. The new location has two loading docks, grade-level doors and enough parking for the entire workforce. A local investor, who was represented by Jim Hazard of E. Smith Realty Partners in the lease deal, owns the new location.

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IndustrialTexas

Lee & Associates Negotiates 103,283 SF Industrial Lease in Dallas

by Haisten Willis

DALLAS — Lee & Associates has negotiated a lease for 103,283 square feet of industrial space located at 1000 N. 28th Ave. in Dallas. Tom Walrich, Corbin Blount and Reed Parker of Lee & Associates’ Dallas/Fort Worth office represented the tenant, Curt Manufacturing LLC, in the transaction. Steve Trese and Wilson Brown of CBRE represented the landlord, Clarion Partners.

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LoansMultifamilyTexas

Old Capital Provides $7.5M Loan for Apartment Complex in Metro Dallas

by Haisten Willis

FARMERS BRANCH, TEXAS — Old Capital has provided a $7.5 million loan for the purchase and renovation of Villa Creek Apartments, a 161-unit complex in Farmers Branch. A local ownership group purchased the asset, which is located near LBJ Freeway, and plans to make $1.6 million in renovations. Old Capital provided the non-recourse bridge loan with a 30-year amortization schedule.

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HealthcareIowaLoansMidwest

Associated Bank Provides $6.5M Construction Loan for Veterans Clinic in Iowa

by Christina Cannon

KNOXVILLE, IOWA — Associated Bank has provided a $6.5 million construction loan for a Veterans Administration Primary Care Clinic in Iowa. Knoxville VA LLC was the borrower. The 16,731-square-foot clinic will be located at 1607 N. Lincoln St. in Knoxville, approximately 40 miles southeast of Des Moines. The single-story, build-to-suit facility is scheduled for completion by the end of the year. Knoxville VA LLC is an affiliate of W.D. Schorsch LLC, which specializes in the development and management of build-to-suit projects for the United States General Services Administration.

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IllinoisMidwestMixed-Use

Reed Construction to Build 52,000 SF Mixed-Use Building in Chicago

by Christina Cannon

CHICAGO — Reed Construction will build a 52,000-square-foot mixed-use building in Chicago’s Fulton Market Building. MAB Capital Management is developing the five-story building located at 450 N. Morgan St. The project will feature a mix of office and retail space, as well as 50 parking spots. Construction is slated to start in the second quarter and commence in early 2017. Pappageorge Haymes Partners is providing the architectural services.

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HospitalityIllinoisMidwest

Metro Commons Hospitality Sells 135-Room Hotel in Chicago Suburb

by Christina Cannon

HILLSIDE, ILL. — Metro Commons Hospitality has sold a 135-room hotel property to a private buyer for an undisclosed price. The Holiday Inn Express & Suites Chicago West is located at 200 S. Mannheim Road in Hillside, approximately 15 miles west of Chicago. The buyer plans to renovate the property to meet the new InterContinental Hotel Group standards. Nate Sahn, Brian Silberman, Stanley Wang and Scott Miller of CBRE represented the seller in the transaction.

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IllinoisIndustrialMidwest

UPS Leases 273,640 SF Industrial Building in Southwest Suburb of Chicago

by Christina Cannon

LOCKPORT, ILL. — UPS has leased a 273,640-square-foot building within Panattoni Development Co.’s recently delivered 355 Corporate Center in Lockport, approximately 35 miles southwest of Chicago. The facility features 65 docks, four drive-in doors and parking for 268 cars. UPS leased the first of two buildings delivered within the industrial park. The second building is 228,690 square feet and includes 65 docks, four drive-in doors and parking for 240 cars. Both buildings also feature 32-foot clear heights and ESFR sprinkler systems. Frank and Matt Minik of Jupiter Realty Services represented UPS in the transaction. Mark Barbato and Adam Stokes of Nicolson, Porter & List represented Panattoni Development Co.

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IllinoisMidwestMultifamilySeniors Housing

Michuda Construction, Heritage Enterprises Open Assisted Living Community in Illinois

by Christina Cannon

ORLAND PARK, ILL. — Owner and operator Heritage Enterprises and Michuda Construction have opened Evergreen Senior Living at Parkview Campus, an assisted living and memory care community in Orland Park, approximately 25 miles southwest of Chicago. The community features 76 assisted living apartments and 40 memory care apartments. Heritage, based in Central Illinois, developed and will operate the community. Chicago-based Michuda oversaw the design and construction. Worn Jerabek Wiltz Architects PC of Chicago provided architectural services.

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