PASADENA, TEXAS — Marcus & Millichap has arranged the sale of Parkview East Shopping Center, a 39,186-square-foot retail property located in Pasadena. Jerry Goldstein of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, a limited liability company. Parkview East is just north of Bayshore Hospital and has a tenant lineup including Jason’s Deli, Humana, Shipley’s Donuts and Ryan’s Cleaners. The property is 100 percent leased and located at 3901 Spencer Highway. The buyer purchased it utilizing a 1031 tax-deferred exchange.
DALLAS — Rebecca Harrell of Henry S. Miller represented Nguyen Family Medicine in the lease of a medical office in Dallas. Nguyen Family Medicine will be opening a new family clinic at 8420 Abrams Road in the Town Creek Shopping Center, located at the corner of Abrams Road and Royal Lane. Steve Music of The Steve Music Co. represented Town Creek Shopping Center in the lease.
CEDAR PARK, TEXAS — Trulan Property Advisors has brokered the sale of a Logan’s Roadhouse ground lease at 1345 E. Whitestone Blvd. in the Austin suburb of Cedar Park. The location is part of 1890 Ranch, an 875,000-square-foot regional shopping center. Logan’s Roadhouse is an outparcel to Super Target. Other co-tenants in the development include Academy Sports + Outdoors, Cinemark, Gold’s Gym and Ross Dress for Less. The building is situated on 1.1 acres. Jason Middlebrook of Trulan Property Advisors represented the out-of-state seller in the transaction. David Browne with Midtown Realty Group represented the buyer, a Texas-based investor.
GREENFIELD, IND. — Cushman & Wakefield has arranged a $43 million sale-leaseback of a cold storage distribution center in Greenfield, approximately 25 miles east of Indianapolis. Centurion Investments LLC acquired the 419,052-square-foot asset from Smithfield Foods Inc. and is subsequently leasing it back to a subsidiary of Smithfield Foods. The distribution center is situated on 48 acres and is located within the Axcess 70 Business Park. The facility includes 203,081 square feet of cooler space, 81,086 square feet of freezer space, 40,498 square feet of swing rooms, two floors of office space, 48-foot clear heights and the opportunity to expand by an additional 200,000 square feet. Scott Goldman, Michael Christian and Jeff Castell of Cushman & Wakefield represented Smithfield Foods in the transaction.
ST. LOUIS, MO. — HFF has arranged $13.3 million in financing for a Class A office building in downtown St. Louis. The capital is being used to acquire and fund future capital improvements on the 20-story, St. Louis Place. The 337,088-square-foot building is located at 200 N. Broadway. Working on behalf of Mariner Real Estate Management, HFF placed the five-year, floating-rate loan with a division of NBH Bank, Bank Midwest. St. Louis Place is 63 percent leased to 12 tenants including Fleishman-Hillard, General Services Administration, Peckham Guyton and Albers & Viets. Matthew Schoenfeldt and Brock Cannon of HFF arranged the financing for the undisclosed borrower.
MORTON GROVE, ILL. — The Missner Group has acquired a 152,000-square-foot industrial warehouse in Morton Grove, approximately 16 miles northwest of Chicago, for an undisclosed price. The facility is located at 8338 Austin Ave. and features 16-foot clear heights, five exterior docks, one drive-in door and 76,000 square feet of office space. The building, situated on 7.3 acres, is currently 100 percent leased to two tenants, Schwarz Supply Source and Integrated Merchandising Systems LLC. Eric Sorenson and Dirk Riekse of Cushman & Wakefield represented The Missner Group in the purchase of the property. The Cushman & Wakefield team also represented the building’s undisclosed seller.
MAYFIELD HEIGHTS, OHIO — Alpine Realty Capital LLC has brokered the sale of a Staybridge Suites hotel in Mayfield Heights, approximately 22 miles east of Cleveland. A local developer sold the asset to Arbor Lodging Group for an undisclosed price. The 123-room extended stay hotel opened in 2007 and is located at 6103 Landerhaven Drive. Arbor Lodging Group plans to renovate and upgrade the guestrooms, public areas and hotel exterior. The hotel features a meeting room, outdoor pool and breakfast area. Ed Walsh of Alpine Realty Capital brokered the transaction.
INDIANAPOLIS — JLL has arranged a 43,750-square-foot industrial lease in Indianapolis. Carpet Cushion & Supplies, a wholesale distributer of carpet pads and flooring installation products, will occupy the space at 6737 E. 30th St. The facility was built in 1995 and features high-quality finishes that will work well as a showroom for Carpet Cushion & Supplies. Brian Seitz and Brian Buschuk of JLL represented the landlord, First Industrial, in the transaction. Joel Friedland and Steve Stone of Transwestern and Steve Schwegman of JLL represented the tenant.
VIRGINIA BEACH, VA. — The U.S. Naval Facilities Engineering Command in Norfolk has awarded Hourigan-Sundt a $36 million contract to design, construct and renovate an Explosive Ordnance Disposal Consolidated Operations Complex in Virginia Beach. The 150,000 project will be situated within the Joint Expeditionary Base Little Creek-Fort Story. The facility will provide space for operations, logistics, storage and administrative support services. Hourigan-Sundt, a joint venture between Hourigan Construction and Sundt Construction Inc., expects to break ground on the project in mid-2016. Completion is slated for October 2018. Sundt has five other construction projects with the Navy, including the Camp Johnson Bachelor Enlisted Quarters at Camp Lejeune, N.C.
OXFORD, MISS. — Duke Realty will soon begin developing the Baptist Oxford Medical Office Building in Oxford, about 80 miles south of Memphis and home of the University of Mississippi. The three-story, 78,000-square-foot medical office building will be located on the campus of the new replacement Baptist Memorial Hospital-North Mississippi at 1100 Belk Blvd. The 600,000-square-foot, five-story hospital has a completion date set for fall 2017. Duke Realty plans to deliver the medical office building in August 2017. About 49,000 square feet of the medical office building will house Baptist Memorial Hospital-North Mississippi services, including outpatient physical therapy, wound care, a sleep lab, education/simulation and administrative space. Baptist Medical Group physician offices will occupy approximately 8,200 square feet in the facility, and the Stern Cardiovascular Foundation will operate in roughly 6,000 square feet of space. The property will also house other medical specialty practices. The design team includes general contractor Robins & Morton, which is based in Birmingham, Ala., and architect Earl Swenson Associates, which is based in Nashville, Tenn.