Property Type

Ohio Begins 1.4 MSF Development of Mixed-Use Bridge Park

by Christina Cannon September 25, 2015

DUBLIN, OHIO — Crawford Hoying has started Phase I for the mixed-use Bridge Park development in Dublin, a suburb of Columbus. Hoying is the Ohio-based developer spearheading the $350 million project. The first of the three-phase development spans 30 acres and will include 269,000 square feet of restaurant, office, retail and personal services space, two 850-space parking garages, as well as 382 luxury apartment units and 42 condominiums. Phase I will also include more than $155 million in public improvements, of which the City of Dublin will contribute $43.1 million. Slated for a fall 2016 completion, Crawford Hoying is expected to release its first tenants for Phase I in the coming weeks. This fall, Phase II of the project is slated to break ground, with tenants and development anticipated to be coming online in early 2017. Plans for Phase II include a 150-key hotel, a 500-person event center, as well as significant additions of office, retail, and for-sale and rental residential units. Upon completion, the entire Bridge Park project will include more than 1.1 million square feet of residential space, 220,000 square feet of Class A Office, 120,000 square feet of service retail and 92,000 square feet of restaurants.

September 25, 2015

Illinois Midwest Restaurant Retail

Boulder Group Brokers $1.9M Sale of Hooters in Illinois

by Christina Cannon September 25, 2015

ROCKFORD, ILL. — The Boulder Group has brokered the sale of a single-tenant net lease Hooters located at 6904 Argus Drive in Rockford, which is approximately 90 miles northwest of Chicago. The property is 4,700 square feet and sold for $1.9 million. Randy Blankstein and Jimmy Goodman of The Boulder Group represented both the buyer and seller who are undisclosed. There are over five years remaining on the corporately guaranteed Hooters lease. The lease features no landlord responsibilities and 10 percent rental escalations every five years. The Boulder Group is a boutique investment real estate service firm specializing in single-tenant net lease properties.

September 25, 2015

Illinois Midwest Office

Colliers International Arranges Law Office Lease in Chicago

by Christina Cannon September 25, 2015

CHICAGO — Colliers International has arranged the 10-year lease of a 11,000-square-foot office space for law firm Chapman Spingola LP. The property is located at 190 S. LaSalle St. in Chicago, and David Burden and Thomas Berarducci of Colliers International arranged the lease. Tishman Speyer, the building’s owner, was self-represented in the lease transaction. 190 South LaSalle was constructed in 1986 as a Class A office building by architects Philip Johnson and John Burgee. Chapman Spingola LP will occupy a portion of the 38th floor.

September 25, 2015

Office Texas

Insite Realty, Urban Cos. Begin Construction on Office Building in Metro Houston

by Haisten Willis September 24, 2015

KATY, TEXAS — InSite Realty Partners and Urban Cos. have formed a partnership to develop Phase II of Grandway West following a pre-lease commitment for 21,066 square feet from Severn Trent Services Inc. Grandway West is a five-building office development that will total 780,000 square feet when complete. The co-developers have commenced construction on Phase II, which will span 124,017 square feet and be ready for occupancy in March 2016. Transwestern’s Paul Wittorf, Eric Anderson and Parker Burkett are providing leasing services on behalf of the co-developers. In 2011 and 2012, the Class A office market in Katy had vacancy in the 4.5 percent to 6.5 percent range. From 2013 through mid-year 2015, Class A vacancy rose to the high-11 percent range as an increase in construction activity brought new supply to the area. Grandway West is a 56-acre office development located one mile north of I-10 with frontage on the Grand Parkway. Phase I, totaling 83,912 square feet, is 90 percent leased. Phase II has 109,179 square feet available for pre-lease following the Severn Trent Services transaction.

September 24, 2015

Industrial Texas

Lee & Associates Negotiates 71,250 SF Industrial Lease in San Antonio

by Haisten Willis September 24, 2015

SAN ANTONIO — Lee & Associates has completed a lease for a 71,250-square-foot industrial space located at 8154 Bracken Creek in San Antonio. Tom Walrich and Reed Parker of Lee & Associates’ Dallas/Fort Worth office represented the tenant, KGP Telecommunications Inc. Charles Bujan with ERA Colonial Real Estate represented the landlord, Bracken Creek Properties Ltd.

September 24, 2015

Retail Texas

CBRE|UCR Completes Lease for Eatzi’s Market & Bakery in Fort Worth

by Haisten Willis September 24, 2015

FORT WORTH, TEXAS — CBRE|UCR has completed a new retail lease in Fort Worth on behalf of Eatzi’s Market & Bakery. The eatery signed a lease for an end cap space at the University Park Village Shopping Center located one block south of I-30. CBRE|UCR’s Greg Pierce and Ryan May handled site selection for Eatzi’s and represented the restaurant in the lease transaction with Simon Property Group, the landlord, which was represented in-house by Greg Vlahos. The Dallas-based chain, which already has retail locations in Plano, Grapevine, Highland Park and Uptown/Oak Lawn, expects to open the new Fort Worth store in late 2016 or early 2017. The company opened its first retail location in 1996. Eatzi’s Market & Bakery is a European-style eatery with dishes including grilled meats and seafoods, sushi, sandwiches and salads, deli meats and cheeses, pastries, desserts, beer and wine.

September 24, 2015

Loans Multifamily Texas

Berkadia Originates $15.7M Acquisition Loan for Multifamily Property in San Antonio

by Haisten Willis September 24, 2015

SAN ANTONIO — Berkadia has secured $15.7 million in financing for The Parq on the Boulevard, a multifamily property located at 5655 UTSA Blvd. in San Antonio. Andy Hill of Berkadia’s Austin office secured the loan through Berkadia’s Freddie Mac program. The borrower, Mosaic Marq LP, will use the seven-year, floating-rate financing for the acquisition of the property. Loan terms include two years of interest-only payments followed by a 30-year amortization schedule. The Parq on the Boulevard is a 208-unit property that features one-, two- and three-bedroom floor plans. Community amenities include a pool with a tanning deck, barbeque grills, fitness center, pet park and a business center. Situated on more than 11 acres, the property was 94 percent occupied at the time of closing.

September 24, 2015

Retail Texas

M&M Arranges Sale of 92,956 SF Retail Property in Midland

by Haisten Willis September 24, 2015

MIDLAND, TEXAS — Marcus & Millichap has arranged the sale of Town and Country Shopping Center, a 92,956-square-foot retail property located in Midland. Philip Levy of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a limited liability company. Levy also secured the buyer, a private investor. Town and Country Shopping Center is located on a 9.3-acre site at 1000 N. Midkiff Road. The property is 88 percent occupied and all leases are triple net. Furr’s Cafeteria, Dollar Tree and Planet Fitness anchor the center. Major retailers in the immediate area include Subway, Sonic, McDonald’s, Hastings, Payless ShoeSource, Dollar General, Gold’s Gym, Lack’s Furniture, Comet Cleaners, Allstate Insurance, Quiznos and Advance Auto Parts.

September 24, 2015

California Multifamily Western

The Capri Apartments in Redwood City Sells for $25.7M

by Nellie Day September 24, 2015

REDWOOD CITY, CALIF. — The Capri Apartments, an 85-unit apartment building in Redwood City, has sold to an unnamed buyer for $25.7 million. The community is located at 1491 Hess Road, 441 Poplar Ave. and 403 Poplar Ave. Don Sung of Colliers and Larry Aikins of Terrace Associates executed the transaction.

September 24, 2015

California Multifamily Western

Orchard Adams Purchases Palisades Apartments Near USC for $12.6M

by Nellie Day September 24, 2015

LOS ANGELES — Orchard Adams LLC has purchased the 28-unit Palisades Apartments in Los Angeles for $12.6 million. The community is located at 1210 and 1226 W. Adams Blvd., near the University of Southern California (USC). It was built in 2002. Robert Ip of Avison Young represented Orchard Adams. CBRE represented the seller, Palisades USC LLC.

September 24, 2015

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