PLYMOUTH, MICH. — Friedman Integrated Real Estate Solutions has brokered the sale of a 22,252-square-foot industrial building for an undisclosed price. The property is located at 46301 Port St. in Plymouth, approximately 27 miles west of Detroit. Venture Aerospace LLC sold the building to E Group LLC, which will occupy the space along with Regional General Contracting LLC. Phil Konopitski of Friedman represented the buyer in the transaction.
HOUSTON — McCarthy Building Cos. has been awarded the contract for the $38.7 million upgrade of Wharf 2 at the Port of Houston Authority’s Barbours Cut Terminal located in Morgan’s Point. Barbours Cut is considered to be one of the premier container handling facilities in the country. The project will upgrade the existing Wharf 2 to support larger wharf cranes that can accommodate post-panamax vessels. McCarthy will upgrade 1,000 linear feet of wharf, installing new foundations and crane rails, and construct a new stevedore support building, mast poles and the electrical infrastructure required for three new 100-foot gauge electric dock cranes. Wharf 2 is adjacent to McCarthy’s recently completed Wharf 1 project, which included the rehabilitation of a 1,333 linear foot structure used for the receipt and shipment of containerized freight intended for both foreign and domestic trade. The project was completed in fall 2014. The upgrade of Wharf 2 is scheduled to begin in January 2016. Completion is scheduled for early 2017.
GARLAND, TEXAS — Through its U.S. Industrial Fund II, Hillwood Investment Properties has acquired 3838 W. Miller Road, a Class A distribution building totaling 200,000 square feet located in Garland. The property is located on Miller Road, a named exit off of I-635, and provides access to U.S. 75 and I-35E. The cross-dock facility is available for lease and offers 31-foot clear heights, T-5 lighting, a sprinkler system and 140-foot truck courts. The building provides up to 30,000 square feet of office and showroom areas along with parking for 260 cars.
TULSA, OKLA. — CBRE Capital Markets’ Investment Properties has arranged the sale of a complex including 180,000 square feet of warehouse space and 220,000 square feet of office space at the Hilti North America Operations Center in Tulsa. Educational Development Corp. (EDC), an educational children’s book publishing company based in Tulsa, purchased the warehouse and office space from Hilti for an undisclosed price. Hilti will lease back 180,000 square feet of the office space to house its North America Operations Center, which includes customer service, accounting, training and other functions. Hilti will continue to be located in Tulsa after the company’s headquarters relocated to Plano, Texas in June. Located at 5404 S. 122 E. Ave., the remaining 221,000 square feet will house EDC’s new headquarters, including a 180,000-square-foot warehouse operation. Adam Rumsey, Bob Pielsticker, Angela West and Matt Reese of CBRE represented the seller. EDC sells children’s books, including Usborne Books and the Kane Miller line of international children’s titles, through a sales organization of independent consultants, through 5,000 retail stores and online. Hilti is a manufacturer and supplier of tools and fastening systems.
AUSTIN, TEXAS — Berkadia has negotiated the sale of Villas del Sol Apartments, a multifamily property located in Austin. Forrest Bass and George Deuillet of Berkadia’s Austin office completed the sale. Austin-based ACA Villa del Sol LLC was the buyer, and San Diego-based LLJ Quez Rutland Place LLC was the seller. Built in two phases during 1978 and 1982, Villas del Sol Apartments is located at 1647 and 1711 Rutland Drive. The 294-unit property consists of studio, one- and two-bedroom floor plans and is 96 percent occupied. Unit amenities include fully equipped kitchens, walk-in pantries, faux-wood vinyl flooring, built-in desks and bookshelves, ceiling fans, walk-in closets, linen closets and patios or balconies. Select units also include fireplaces and vaulted ceilings. Community amenities include a swimming pool, clubhouse, fitness center, business center, playground, picnic areas with barbeque grills, two laundry facilities and a dog park. Accessible from U.S. Highway 183 and I-35, Villas del Sol Apartments is less than three miles from The Arboretum shopping center and less than two miles from The Domain shopping center.
AUSTIN, TEXAS — CIM Group has funded the acquisition for the purchase of 1.7 acres located at the northeast corner of West Third Street and West Avenue in downtown Austin. The transaction marks a milestone in the development of The Independent, a 58-story, 370-unit condominium tower. The property was acquired from the city of Austin under the terms of a master development agreement. Demolition and site work activity will commence this month. The Independent will be located in downtown Austin, surrounded by shopping, dining and entertainment destinations, offering retailers, casual and fine dining, daily needs services and grocers. CIM Group, Aspen Heights and Constructive Ventures are co-developers of The Independent.
PISCATAWAY, N.J. — A partnership between The KRE Group, Oxford Realty Group and Blue Vista Capital Management has acquired Royal Gardens Apartments, located at 3060 New Brunswick Ave. in Piscataway, for $107.2 million. Situated on 36 acres, the 550-unit property features 258 one-bedroom apartments and 292 two-bedroom units. The partnership plans to install additional amenities and property improvements at the community, including an outdoor swimming pool. The property was 96 percent occupied at the time of sale. Joseph Brecher of Gebroe-Hammer Associates represented the seller in the transaction.
BOSTON — EagleBridge Capital has arranged $20.5 million in construction/permanent financing for an apartment complex located at 61-83 Braintree St. in Boston’s Allston neighborhood. The borrower is a joint venture between The Grossman Companies and Waypoint Cos. The apartment building will feature 80 studio, one-, two- and three-bedroom rental units and ground-floor commercial space. Additionally, the property will feature a rooftop deck, fitness center, bicycle storage and 68 parking spaces. Ted Sidel and Brian Sheehan of EagleBridge Capital secured the financing for the borrowers.
BRIDGEPORT, CONN. — Bass Pro Shops has opened its first Connecticut location at Steelpointe Harbor, a 2 million-square-foot mixed-use property in Bridgeport. The 150,000-square-foot store features Uncle Buck’s Fish Bowl and Grill restaurant; Black Widow Billiards parlor with two tournament pool tables; a 12-lane bowling alley; an archery range; and an aquarium. Steelpointe Harbor, a 50-acre, $750 million project, is being developed by Bridgeport Landing Development, a subsidiary of The RCI Group.
BOSTON — Boston-headquartered Sperry Van Ness International Corp. has changed its signature brand name to SVN. The Sperry Van Ness brand was launched in 1987 and became a national franchise operation in 2003. This year, SVN has added 25 offices nationally and internationally, bringing the company’s portfolio to more than 1,400 advisors and staff in nearly 200 offices worldwide. The SVN brand name and new logo will roll out globally over the next 12 to 18 months.