Property Type

Paine Wetzel Brokers Sale of 106,892 SF Industrial Property in Glen Ellyn, Illinois

by Christina Cannon February 18, 2016

GLEN ELLYN, ILL. — Paine Wetzel TCN Worldwide has brokered the sale of a 106,892-square-foot industrial property in Glen Ellyn, approximately 28 miles west of Chicago. M&R Printing Equipment sold the asset, located at 1N372 Main St., to LifeStorage. The asking price for the property was $3.7 million, but the final purchase price was undisclosed. LifeStorage plans to convert the manufacturing building into self-storage units. Jeff Blake of Paine Wetzel TCN Worldwide represented the seller in the transaction. Sean Henrick of Cushman & Wakefield represented the buyer.

February 18, 2016

Industrial Michigan Midwest

Friedman Negotiates Sale of 24,898 SF Industrial Property in Detroit Suburb

by Christina Cannon February 18, 2016

NOVI, MICH. — Friedman Integrated Real Estate Solutions has negotiated the sale of a 24,898-square-foot industrial property for $1.6 million. Sigma Phi Properties Inc. acquired the asset, located at 46555 Humboldt Drive Road in Novi, approximately 30 miles northwest of Detroit, from BACM 2006-2 Novi industrial LLC. The property was 100 percent occupied by three tenants at the time of sale. Rich Deptula of Friedman Integrated Real Estate Solutions represented both parties in the transaction.

February 18, 2016

Midwest Office Wisconsin

Siegel-Gallagher Arranges 1,400 SF Office Lease in Milwaukee Suburb

by Christina Cannon February 18, 2016

ELM GROVE, WIS. — Siegel-Gallagher has arranged a 1,400-square-foot office lease in Elm Grove, approximately 10 miles west of Milwaukee. ABR Employment Services will occupy space at The Tradesman Building. Building Trades United Pension Trust Fund owns the property located at 500 Elm Grove Road. John Dulmes and Dan Walsh of Siegel-Gallagher brokered the transaction.

February 18, 2016

Industrial Texas

Sealy & Co. Acquires Northwest Point Business Park in Houston

by Haisten Willis February 17, 2016

HOUSTON — Sealy & Co. has acquired Northwest Point Business Park, a 232,307-square-foot light industrial portfolio located on Brittmoore Road in northwest Houston. The acquisition was made through the company’s investment offering Sealy Strategic Equity Partners (SSEP). The park consists of four industrial buildings located at the intersection of Highway 290 and Beltway 8. Northwest Point is 100 percent leased to 10 tenants including manufacturing, distribution and food processing companies. The average tenant has occupied the space for more than three years. The suites range from 4,695 to 76,880 square feet.

February 17, 2016

Office Texas

LandPark Arranges Acquisition of Two Office Buildings in Houston

by Haisten Willis February 17, 2016

HOUSTON — Peter Wall and Bill McGrath of LandPark Advisors have represented Stone Mountain Properties in the acquisition of two multi-tenant office buildings in Houston. The two buildings are located in the Westchase District and total 154,704 square feet of rentable area. The new buildings, located at 2424 and 2500 Wilcrest Drive, are situated near the northwest corner of Wilcrest Drive and Westheimer Road. LandPark Advisors is the parent company to LandPark Commercial, which was hired to provide both property management and leasing services on behalf of Stone Mountain Properties.

February 17, 2016

Office Texas

KBS REIT Signs 15,600 SF in Office Leases in Metro Dallas

by Haisten Willis February 17, 2016

RICHARDSON, TEXAS — KBS Strategic Opportunity REIT, a non-traded real estate investment trust based in Newport Beach, Calif., has signed three leasing deals at its Richardson Office Portfolio totaling 15,688 square feet. Shea & McMurdie Financial and Stuart Gurnea are new tenants occupying the properties, and Treliant Risk Advisors is an existing tenant that recently renewed its lease. Shea & McMurdie Financial, a consultancy offering tax planning and other financial services, signed a 3,082-square-foot lease. Stuart Gurnea, an insurance agent, signed a 1,026-square-foot lease, and Treliant Risk Advisors, a compliance, risk management and strategic advisory firm for the financial services industry, has renewed its 11,580-square-foot lease. The Richardson Office Portfolio is a four-building office campus located on 43 acres near the intersection of US-75 Central Expressway and President George Bush Turnpike. Mark Jordan and Laura Maczka of Sooner National Property Management LP represented KBS Strategic Opportunity REIT in the lease transactions.

February 17, 2016

Office Texas

Boxer Property Arranges 19,384 SF Office Lease in Houston

by Haisten Willis February 17, 2016

HOUSTON — Boxer Property has arranged the lease of 19,384 square feet of office space to HRSS LLP, a full service accounting firm, at 6671 Southwest Freeway in Houston. Travis Taylor and Chris Nash of Lee & Associates represented HRSS LLP in the lease transaction. Trey Miller and Jessica Barrera of Boxer Property negotiated the lease on behalf of the landlord, a third-party vendor. Located in Southwest Houston, 6671 Southwest Freeway has full floor suites, as well as private offices available for rent. The building contains granite floors and offers four levels of parking. Boxer Property provides on-site security and management.

February 17, 2016

Office Texas

Lee & Associates Negotiates Sale of Office Property in Houston

by Haisten Willis February 17, 2016

HOUSTON — Ortega Medical Building LLC has purchased a 9,600-square-foot office facility at 1606 Romano Park Lane W. in Houston. Robert Noack of Lee & Associates’ Houston office represented the seller, District & Urban Inc., in the transaction. Erica Lara of Realty Associates represented the buyer.

February 17, 2016

Georgia Industrial Southeast

Hillwood Acquires 2.2M SF Industrial Park in Metro Atlanta

by John Nelson February 17, 2016

LAWRENCEVILLE, GA. — Hillwood, a Perot company, has purchased Gwinnett 316, a 15-building distribution park totaling 2.2 million square feet, for an undisclosed price. The park is situated one mile off GA Highway 316 in Lawrenceville within Atlanta’s I-85 Northeast submarket. The acquisition consists of rear- and front-loading distribution buildings ranging from 70,000 to 200,000 square feet. The buildings have an average construction date of 1992 with an average 24-foot clear height, ESFR sprinkler systems, T-5 lighting, ample parking and some office space. Hillwood has begun major capital improvements that include enhanced landscaping, parking lot and roof refurbishments and upgrades to vacant space. Hillwood recently opened an office in Atlanta, with Todd Parker leading the division as senior vice president.

February 17, 2016

Georgia Mixed-Use Southeast

Hotel Development Partners Breaks Ground on Residence Inn in Atlanta’s Central Perimeter

by John Nelson February 17, 2016

ATLANTA — Hotel Development Partners has commenced construction on a new 128-room Residence Inn on a 4.8-acre site located at the intersection of Ashford Dunwoody and Meadow Lane roads in Atlanta’s Central Perimeter submarket. The site surrounds the existing Spruill Center for the Arts and will feature the hotel, Fogo de Chao Brazilian Steakhouse and other dining and shopping amenities in early 2017. Alan Shaw of The Shopping Center Group is leasing the site on behalf of Hotel Development Partners, which purchased the site in 2015. The developer is also underway on a Hampton Inn-anchored mixed-use project on Ashford Dunwoody Road.

February 17, 2016

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