Property Type

U.S. Government Renews Office Space in Brentwood

by Nellie Day April 21, 2015

LOS ANGELES – The Government of the United States (GSA) has renewed its lease for 21,961 square feet of office space in the Los Angeles submarket of Brentwood. The GSA leases the entire fourth floor of a Class A building at 12121 Wilshire Blvd. The space is situated on the northwest corner of Wilshire Boulevard and Bundy Drive. The GSA has occupied the building for 10 years. It has now signed on for an additional 10 years. The landlord, Douglas Emmett, was represented by Mitchell Stokes and Bob Safai of Madison Partners.

April 21, 2015

California Retail Western

VeganBurg to Open First U.S. Restaurant in San Francisco

by Nellie Day April 21, 2015

SAN FRANCISCO – Singapore-based specialty restaurant VeganBurg has announced plans to open its first U.S. restaurant in San Francisco. The plant-based burger restaurant will open at 1466 Haight Street this summer. The space was previously vacated by All You Knead. The company is evaluating plans for future sites across the country. VeganBurg was represented by John Polyzoides and Andrew Lindsey of SRS Real Estate Partners.

April 21, 2015

California Industrial Western

Wohl Buys Airport Wineville Business Park in Ontario

by Nellie Day April 21, 2015

ONTARIO, CALIF. – Wohl Investment Company has acquired Airport Wineville Business Park, a 53,937-square-foot, mixed use industrial center in Ontario, for $4.5 million. The four-building park is located at 5140 E. Airport Drive and 151,181 and 201 S. Wineville Ave. Wohl was represented by Patrick Barnes of Colliers International. The seller was McLellan Estate Co.

April 21, 2015

California Industrial Western

Sator Sports Expands Industrial Footprint in Gardena

by Nellie Day April 21, 2015

GARDENA, CALIF. – Sator Sports has acquired a 19,650-square-foot industrial building in Gardena for $2.4 million. The building is located at 1455 W. 139th Street. The soccer equipment company will be relocating its headquarters from nearby 1536 228th Street. It should occupy its new space by mid-April. The new building will allow the company to expand. Sator Sports was represented by Matt Stringfellow and Courtney Bell of the Klabin Company/CORFAC International. The seller Major Fulfillment Inc., was represented by David Denitz of Gateway Business Properties.

April 21, 2015

Industrial Midwest Wisconsin

M&M Arranges $33M Sale of Two Industrial Buildings in Franklin, Wis.

by Danielle Everson April 20, 2015

FRANKLIN, WIS. — Marcus & Millichap has arranged the $33 million sale of two industrial buildings totaling 418,000 square feet in Franklin, approximately 20 miles south of Milwaukee. The properties are 1 and 2 World Packaging Circle, located within the 425-acre Franklin Business Park with frontage on South Oakwood Park Drive and Ryan Road. The property has access to I-94, I-894, U.S. Highway 41, U.S. Highway 45 and State Trunk Highway 36. The two facilities were built of precast tilt-up concrete on 37.6 acres in 2006. Features at the properties include 30-foot to 40-foot ceiling heights, enclosed docks, two 75-ton cranes, two 10-ton cranes and heated underground parking. Thomas Kopatich of Marcus & Millichap’s Milwaukee office represented the seller, a local business person, and the buyer, a private equity fund.

April 20, 2015

Michigan Midwest Retail

Founder of Taubman Centers Passes Away

by Danielle Everson April 20, 2015

BLOOMFIELD HILLS, MICH. — A. Alfred Taubman, the founder of Taubman Centers Inc., has died at the age of 91. Robert S. Taubman, president and CEO of Taubman Centers, shared in an email message to Taubman employees on Saturday, April 18, that his father passed away of a heart attack at his home in Bloomfield Hills. Recognized as a pioneer in America’s retailing and shopping center industries, Alfred Taubman founded Taubman Centers, a real estate developer and operator of upscale regional malls, 65 years ago. Taubman, a life-long resident of the Detroit area, was active in numerous businesses, philanthropic and civic initiatives.

April 20, 2015

Industrial Texas

M&M Arranges Sale of 88,011 SF Self-Storage Facility in Metro Houston

by Haisten Willis April 20, 2015

PASADENA, TEXAS — Marcus & Millichap has arranged the sale of Morningstar of Pasadena, an 88,011-squrae-foot self-storage facility located in Pasadena. Chico LeClaire and Dave Knobler of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, a limited liability company. Knobler and LeClaire also secured and represented the buyer, a limited liability company. Morningstar of Pasadena is located at 6321 Spencer Highway in Pasadena.

April 20, 2015

Hospitality Loans Texas

Ashford Trust Secures $25.1M in Financing for Hotel in Austin

by Haisten Willis April 20, 2015

AUSTIN, TEXAS — Ashford Hospitality Trust Inc. has secured $25.1 million in property level debt financing for the previously-closed acquisition of the 168-room Lakeway Resort & Spa in Austin. The financing has a two-year term and three, one-year extension options, subject to the satisfaction of certain conditions. The interest-only loan provides for a floating interest rate 5.1 percent. Ashford Hospitality Trust is a real estate investment trust focused on investing in the hospitality industry across all segments.

April 20, 2015

Multifamily Texas

SWBC Real Estate Breaks Ground on Two Multifamily Developments

by Haisten Willis April 20, 2015

SAN ANTONIO AND GRAND PRAIRIE, TEXAS — SWBC Real Estate has broken ground on two new developments, both Class A Apartment projects. The first project, Twin Creeks at Alamo Ranch, broke ground earlier this year on the west side of San Antonio. Upon completion, the project will include 300 one-, two- and three-bedroom apartments. The proposed construction time for Twin Creeks at Alamo Ranch from start to finish is 18 months. In the second project, SWBC Real Estate broke ground on its second project, known as Timberview Ranch, which is located in Grand Prairie. Upon completion, the project will include 304, Class A garden-style one-, two- and three-bedroom apartments. Timberview Ranch is schedule for completion at the end of 2016. Galaxy Builders serves as the general contractor for both projects. Cross Architects is the architect.

April 20, 2015

Healthcare Illinois Midwest

Reed Construction Breaks Ground on Riverside Medical Center

by Danielle Everson April 20, 2015

FRANKFORT, ILL. — Reed Construction has broken ground on the Riverside Medical Center, a 20,755-square-foot medical office building for Riverside Healthcare in Frankfort. The project site is located on a 25-acre plot at the corner of U.S. Highway 45 and Steger Road. Reed will build a single-story, masonry medical office facility that will include exam rooms, CT imaging, EKG facilities and infusion bays for Riverside Healthcare. In addition, Reed will complete over 20 acres of site improvements and infrastructure for future development on the property. Project leaders participated in a groundbreaking ceremony at the site on April 15. Proteus Group will provide architectural services for the project, which is set for completion this fall.

April 20, 2015

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