Property Type

Sunroad Enterprises to Develop Centrumplace Office Campuses in San Diego

by Nellie Day March 29, 2016

SAN DIEGO — Sunroad Enterprises has announced plans to develop Centrumplace II and III, a 583,000-square-foot office campus in central San Diego. Centrumplace is the commercial centerpiece of the Centrum Master Plan, which includes eight acres of business facilities, retail, residences and green space. The development already features Centrum I, a 275,000-square-foot building completed in 2008. The new addition will include Centrum II and Centrum III. The structures will include flexible floor plates that can range from 24,800 to 59,500 square feet. Dave Odmark, Eric Vann and Brian Starck from Cushman & Wakefield will lease the property. Gensler is designing the campus.

March 29, 2016

California Retail Western

Ross Stores Opens 28 New Locations

by Nellie Day March 29, 2016

DUBLIN, CALIF. — Ross Stores recently opened 22 Ross Dress for Less® and six dd’s DISCOUNTS stores across 15 states in February and March. These new locations are part of the company’s 2016 expansion plans to add approximately 70 Ross and 20 dd’s DISCOUNTS locations throughout the year. “These recent openings reflect our ongoing plans to continue building our presence in both existing and newer markets, including the Midwest for Ross, and expansion of dd’s DISCOUNTS,” says Jim Fassio, president and chief development officer. “Ross Dress for Less remains the largest off-price apparel and home fashion chain in the U.S with 1,295 locations in 34 states, the District of Columbia and Guam. We continue to identify plenty of domestic growth opportunities ahead for both Ross and dd’s DISCOUNTS, and believe that over the long term, Ross can grow to 2,000 total locations and dd’s DISCOUNTS can become a chain of 500 stores.” Ross Stores, Inc. is headquartered in Dublin, Calif.

March 29, 2016

Arizona Retail Western

HFF Arranges $6.3M in Acquisition Financing for Grocery-Anchored Center in Mesa

by Nellie Day March 29, 2016

MESA, ARIZ. — HFF has arranged $6.3 million in acquisition financing for Marketplace at Signal Butte, a 116,358-square-foot, grocery-anchored retail center located in Mesa. Basha’s anchors the center, which is home to tenants including Big 5 Sporting Goods, Denny’s, Dollar General, Golden China, Sunrise Daycare, US Nail Spa, Edward Jones, Papa John’s Pizza and H&R Block. Greg Brown of HFF worked on behalf of the borrower, Progression REI, to place the 10-year, fixed-rate loan with Wells Fargo Bank.

March 29, 2016

Loans Multifamily Texas

Dougherty Mortgage Brokers $25M HUD Loan for New Apartment Complex in Fort Worth

by Haisten Willis March 29, 2016

FORT WORTH, TEXAS — Dougherty Mortgage LLC has closed a $25 million HUD 221(d)(4) loan for the construction of Reserve at Quebec, a 296-unit multifamily affordable housing property located in Fort Worth. The property will include 12 three-story buildings. The 40-year term loan was arranged for the borrower, Reserve at Quebec LLC, through Dougherty’s Dallas office.

March 29, 2016

Retail Texas

EDGE Realty Partners Arranges Retail Lease for T.J. Maxx in Metro Houston

by Haisten Willis March 29, 2016

HUMBLE, TEXAS — T.J. Maxx has signed a new 22,000-square-foot lease for a store in Westlake Marketplace, a shopping center located at Beltway 8 and West Lake Houston Parkway in Humble. Culver Stedman of EDGE Realty Partners represented the tenant, and Carson Wilson of Fidelis Realty Partners represented the landlord.

March 29, 2016

Office Texas

Milestone Electric & Air Opens Office, Training Center in Metro Dallas

by Haisten Willis March 29, 2016

GRAND PRAIRIE, TEXAS — Milestone Electric & Air Inc. has opened an 11,715-square-foot office and training center in the Grand Prairie Tech Center in the Upper Great Southwest Industrial District. The local HVAC contractor has signed a long-term lease at 2302 113th St. Will Dillard and Michael Spain of Dallas-based Bradford Commercial Real Estate Services represented the landlord, 2302 113th Street GP. David Rouble of David Rouble Brokerage represented Milestone.

March 29, 2016

Industrial Texas

Lee & Associates Negotiates Industrial Lease in Metro Houston

by Haisten Willis March 29, 2016

SPRING, TEXAS — CWER Properties LLC has purchased a 6,363-square-foot industrial building on 3.9 acres at 2610 Spring Cypress Road in Spring. Reed Vestal and Taylor Schmidt of Lee & Associates represented the seller, and James Robertson of Workspace Real Estate represented the buyer.

March 29, 2016

Bailey Power Plant Wake Forest Innovation Quarter Winston-Salem

Mixed-Use North Carolina Southeast

Wexford Science+Technology to Begin $40M Bailey Power Plant Redevelopment

by John Nelson March 29, 2016

WINSTON-SALEM, N.C. — As part of the Wake Forest Innovation Quarter, Wexford Science+Technology, a BioMed Realty company, plans to redevelop two-thirds of the Bailey Power Plant in Winston-Salem. The $40 million project is Phase I in the redevelopment of the entire plant, which ceased operations almost 20 years ago. Phase I includes the redeveloping of the plant’s main building and most of the surrounding grounds, including the iconic chimney stacks. Wexford will convert the five-story main building into 110,800 square feet of office, entertainment, retail and common space. Wake Forest Innovation Quarter plans to work with additional developers to repurpose two smaller buildings, the Morris Building and Building 23-1, on the southeast and southwest corners of the property. The city of Winston-Salem and Forsyth County have each agreed to provide $3 million through a combination of public infrastructure and economic assistance reimbursements, and Wexford will also utilize historic tax credits for the project. R.J. Reynolds donated the Bailey Power Plant lot and all structures on it to Wake Forest Baptist Medical Center in 2010, along with approximately $2 million for environmental abatement work, which was completed in 2013. Construction is expected to begin this spring. Portions of the main building …

March 29, 2016

Alabama Industrial Southeast

NAI Mobile Arranges 125,000 SF Warehouse Lease

by John Nelson March 29, 2016

SARALAND, ALA. — NAI Mobile has arranged a 125,000-square-foot lease for warehouse space at 252 Jacintoport Blvd. in Saraland, a suburb of Mobile. Situated within the Mobile River Industrial Park, the new facility is slated to open in April. The tenant, Danby Products, an appliance manufacturer, also plans to operate a small factory outlet retail store at the site. The company will employ 25 full-time workers once the facility is fully operational. David Dexter of NAI Mobile represented Danby Products in the lease transaction.

March 29, 2016

Georgia Office Southeast

Carter Validus Mission Critical REIT II Buys Data Center in Metro Atlanta for $15.8M

by John Nelson March 29, 2016

ALPHARETTA, GA. — Carter Validus Mission Critical REIT II Inc. has purchased Alpharetta Data Center III in Alpharetta, a northern suburb of Atlanta, for approximately $15.8 million. The property is a single-story, 77,322-square-foot colocation data center situated within 1,500 feet of a Georgia Power substation. The property is fully leased to Sungard Availability Services LP, an IT and cloud information services provider based in Wayne, Pa.

March 29, 2016

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