MARLBOROUGH, MASS. — CBRE/New England has brokered the sale of Bell Wheeler Hill, a 274-unit apartment community located in Marlborough. CBRE Strategic Partners U.S. Value 7 fund, sponsored by CBRE Global Investors, acquired the property from an affiliate of Bell Partners Inc. for an undisclosed price. The community features a mix of one- and two-bedroom apartments, with an average size of 1,015 square feet. On-site amenities include a great room, media room, business center, gym, outdoor pool with sundeck, tot lot, carports, garages and gas grills. Simon Butler and Biria St. John of CBRE/NE represented the seller in the transaction.
FARMINGTON, CONN. — EagleBridge Capital has arranged $2.5 million in permanent mortgage financing for an industrial property located at 21 Hyde Road in Farmington. The 113,425-square-foot property features 6,500 square feet of office space, 106,925 square feet of warehouse and distribution space, clear heights ranging from 24 feet to 30 feet, 10 loading docks and parking for 190 vehicles. The property is currently leased to Dealer Tire, a national tire, maintenance and light repair product distribution company. Brian Sheehan and Ted Sidel of EagleBridge arranged the loan for the undisclosed borrower.
GRAPEVINE, TEXAS — Ryman Hospitality Properties will develop a $120 million expansion of Gaylord Texan Resort and Convention Center in Grapevine, a suburb of Dallas. The expansion will add 300 rooms to the resort’s 1,511-room inventory and will add 86,000 square feet of carpeted meeting space, bringing the total meeting space to 490,000 square feet. Once the expansion is complete, Gaylord Texan will become the second largest non-gaming convention center hotel in the United States, behind Gaylord Opryland Resort and Convention Center in Nashville and ahead of Gaylord National Resort and Convention Center near Washington, D.C. The meeting space addition for Gaylord Texan includes a new 30,000-square-foot ballroom, 30,000 square feet of breakout space and 26,000 square feet of carpeted pre-function space. Construction is expected to begin in the fourth quarter of this year and wrap up during the second quarter of 2018. The project also includes a $5 million expansion of the property’s pool complex, which is expected to be complete for the 2016 summer season. The city of Grapevine has agreed to rebate $1 million of the hotel’s rooms tax annually for a 10-year period upon the completion of the expansion. In 2007, the company announced plans to expand …
HOUSTON — NAI Partners represented S/C Management 87 Ltd. in the sale of 67.5 acres of industrial land located on Mesa Drive between Little York Road and Tidwell Road in Houston. John Ferruzzo and Chris Kugle of NAI Partners represented the seller during the negotiations with the buyer, Jaikrishna Patel.
IRVING, TEXAS — Marcus & Millichap has arranged the sale of Red Roof Inn Dallas DFW Airport North, a 156-room hospitality property located in Irving. Steve Swenholt, Jake Gaddy, Chris Gomes and Allan Miller of Marcus & Millichap’s Austin, Dallas and San Antonio offices, respectively, marketed the property on behalf of the seller, an individual/personal trust. Gomes and Miller secured and represented the buyer, a limited liability company. Red Roof Inn Dallas DFW Airport North is located at 8150 Esters Blvd., less than one mile east of the Dallas/Fort Worth International Airport. Built in 1985, the hotel offers amenities such as shuttle service, a conference room, coin-operated laundry facility and elevators.
ARLINGTON, TEXAS — CheckerProp Acquisitions purchased an 81,400-square-foot industrial property from Tamarack Associates LLC located at 700 106th St. in Arlington. Luke Davis and Matthew Dornak with Stream Realty Partners represented the seller in the transaction. Eric Crutchfield with Stream represented the buyer.
SIOUX CITY, IOWA — United Commercial has arranged the sale of two industrial buildings in Sioux City for $14 million. NorAm Holdings LLC acquired the two assets from ILP I LLC. The buildings are located at 2401 and 2501 Expedition Court. The facility at 2401 Expedition Court was built in 1998 and offers 213,086 square feet of warehouse and distribution space and 5,314 square feet of professional office space. The building sits on 11 acres and features parking for 22 cars, 24-foot clear heights, 14 dock doors and one drive-in door. The property at 2501 Expedition Court was built in 2001 and offers 200,700 square feet of warehouse and distribution space and 25,606 square feet of professional office space. This asset is situated on 12 acres and has parking for 66 cars, 24-foor clear heights, 18 dock doors and one drive-in door. XPO Logistics occupies both buildings. Beau Braunger of United Commercial represented the buyer and seller in the transaction.
CHICAGO — Marcus & Millichap has brokered the sale of a mixed-use loft building in the River North neighborhood of Chicago for $9.5 million. The four-story building is anchored by Kinzie Chophouse Restaurant on the ground level, and the three top levels are utilized as offices. Baum Revision and Kaufman Jacobs purchased the building, satisfying a 1031 exchange trade requirement, from an undisclosed private investor. The 26,000-square-foot property, which is located at the northwest corner of Kinzie and Wells streets, is currently 95 percent occupied. Stephen Lieberman of Marcus & Millichap represented the seller in the transaction.
PLANO, TEXAS — Transwestern has brokered the sale of Plano Parkway Business Center in Plano to a buyer represented by SVN/Trinity Advisors. The property, located at 2701 W. Plano Parkway, was built in 1998 and consists of 113,299 square feet of office space. Transwestern’s Steve Simon, Steve Rowland, Henry Knapek and Justin Miller represented the seller, Transwestern Investment Management/State Farm. Steve Fithian of SVN/Trinity Advisors represented the buyer.
BOLINGBROOK, ILL. — Cushman & Wakefield has arranged an industrial lease in Bolingbrook, approximately 33 miles southwest of Chicago. Menasha Packaging Co. LLC will occupy 164,355 square feet of warehouse space at 800 S. Weber Road. Menasha’s lease brings the 328,709-square-foot building to 100 percent occupancy. The building features 30-foot clear heights, 20 exterior truck docks, two drive-in doors, 1,200 amps of power, 90 car parking spaces and 30 trailer parking spaces. Jason West and Sean Henrick of Cushman & Wakefield represented the landlord in the transaction, ML Realty Partners LLC. Patrick McCaffrey of Avison Young represented Menasha Packaging.