Property Type

Mid-America Real Estate Arranges Sale of Fox River Commons in Grand Chute, Wis.

by Danielle Everson March 12, 2015

GRAND CHUTE, WIS. — Mid-America Real Estate Corp. has brokered the $12.2 million sale of Fox River Commons located in Grand Chute. Bloomfield Hills, Mich.-based Agree Realty Corp. purchased the 78,977-square-foot asset, which is located at the northwest corner of Casaloma Drive and College Avenue. Bed, Bath & Beyond, Barnes & Noble, Old Navy and DressBarn anchor the shopping center. Carly Gallagher of Mid-America Real Estate Corp., in cooperation with Dan Rosenfeld of Mid-America Real Estate – Wisconsin LLC brokered the transaction on behalf of the seller, a private investor group represented by Oak Brook, Ill.-based Inland Private Capital.

March 12, 2015

Illinois Industrial Midwest

Paine/Wetzel TCN Worldwide Arranges Sale of Industrial Building in Chicago

by Danielle Everson March 12, 2015

CHICAGO — Paine/Wetzel TCN Worldwide has brokered the sale of a 21,750-square-foot industrial building located in the southwest side of Chicago. Vogue Cleaners, a commercial laundry company, is expanding its business and has purchased the property located at 2643 W. 19th St. for an undisclosed sales price. The building includes 17-foot ceiling heights and ample truck loading and vehicle parking spaces. The building has three-phase electrical power and a land site of 40,000 square feet for building expansion and parking. Ed Wabick and Al Schulman of Paine/Wetzel TCN Worldwide represented the seller, B& J Wire Inc., in the transaction. The buyer was self-represented.

March 12, 2015

Multifamily Student Housing Texas

Balfour Beatty to Develop New Student Housing for University of Houston-Victoria

by Haisten Willis March 12, 2015

VICTORIA, TEXAS — Balfour Beatty Campus Solutions has been selected to design, build and finance a $20 million on-campus housing project for the University of Houston-Victoria through a public-private partnership. KSQ Architects designed the new, 380-bed housing facility that will include two- and four-bedroom suites. The University of Houston System Board of Regents approved the project at its February board meeting and construction on the project is expected to begin in June for a scheduled delivery in August 2016. Dallas-based Balfour Beatty Construction, a residential and commercial construction firm and a sister division of Balfour Beatty Campus Solutions, is the construction partner on the project. Upon completion, the university will operate the housing. Balfour Beatty Campus Solutions is a developer and operator of infrastructure projects for the college and university market.

March 12, 2015

Loans Multifamily Texas

Q10 KDH Secures $4M Loan for Apartment Complex in Houston

by Haisten Willis March 12, 2015

HOUSTON — Q10 Kinghorn, Driver, Hough & Co. has secured a $4 million fixed-rate loan for Forest Palm Apartments with correspondent lender, StanCorp. The Class A multifamily property was built in 2014 and includes 119 garden-style units across six two-story buildings. Q10 KDH is a Texas-based full service commercial mortgage banking company that arranges financing for developers and owners of commercial real estate. Ryan Watson of Q10 KDH arranged the transaction.

March 12, 2015

Retail Southeast Tennessee

Sterling Organization Acquires Stones River Mall in Metro Nashville

by John Nelson March 12, 2015

MURFREESBORO, TENN. — Sterling Organization has purchased Stones River Mall, a 594,688-square-foot enclosed regional mall in Murfreesboro, a suburb of Nashville. Sterling purchased 497,691 square feet at the mall, which was developed in 1992 and renovated in 2008. The company acquired the asset through its institutional fund: Sterling Value Add Partners II LP. Anchored by Dillard’s, Sears and J.C. Penney, other tenants include Aeropostale, Books-A-Million, Electronic Express, Hancock Fabrics, Chuck E. Cheese’s, PacSun, Bath & Body Works, Shoe Carnival, Versona, Bink’s Outfitters, Hibbett Sports and Victoria’s Secrets. The mall’s outparcel restaurants include TGI Fridays, Olive Garden and Buffalo Wild Wings.

March 12, 2015

Retail Texas

Snap Kitchen Signs Lease at Retail Center in Metro Dallas

by Haisten Willis March 12, 2015

COLLEYVILLE, TEXAS — Snap Kitchen has signed a lease at the new 12,847-square-foot Colleyville Stampede shopping center development in Colleyville. The Austin-based retailer will occupy 1,305 square feet of space at 4712 Colleyville Blvd., Suite 140. Standridge Cos. is the developer of Colleyville Stampede. Snap Kitchen focuses on gluten-free, carb and sodium-conscious, nondairy, vegetarian, vegan and paleo diets. Tey Tiner of CBRE/UCR represented Standridge Cos. in lease negotiations. Alden Harris of Shop Companies represented Snap Kitchen.

March 12, 2015

Florida Industrial Southeast

Hernandez Construction Breaks Ground on 235,000 SF Phase III of Flagler Station

by John Nelson March 12, 2015

FORT LAUDERDALE, FLA. — Hernandez Construction has broken ground on Phase III of Flagler Station, Flagler Global Logistics’ industrial logistics park in Fort Lauderdale that at completion will span 14 million square feet. Buildings 1 and 2 in Phase III will span 235,000 square feet, and Phase III will ultimately expand the park by 1.7 million square feet. Hernandez will begin construction on Buildings 3, 4 and 5 in the next few months. Buildings 1 and 2 are slated to wrap up construction this summer. The construction firm is also nearing completion of five buildings spanning 820,000 square feet at Phase II of Flagler Station.

March 12, 2015

Industrial Office Texas

NAI Partners Arranges 20,000 SF Office/Warehouse Facility Sale in Houston

by Haisten Willis March 12, 2015

HOUSTON — NAI Partners has arranged the sale of a 20,000-square-foot office/warehouse facility located at 13715 N. Promenade Blvd. in Houston. Chris Kugle of NAI Partners represented the seller, E & F Anaya Enterprises. Forbes Henderson of Delta Realty Inc. represented the buyer, Brance-Krachy Co. Inc.

March 12, 2015

Multifamily Texas

Marcus & Millichap Arranges Sale of 72-Unit Apartment Building in East Texas

by Haisten Willis March 12, 2015

NACOGDOCHES, TEXAS — Marcus & Millichap has arranged the sale of Woodland Trails, a 72-unit apartment property located in Nacogdoches. Scott Ogilvie and Robert Denninger of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a limited liability company. Ogilvie and Denninger also procured the buyer, a limited liability company. Woodland Trails is located at 1410 Martinsville St. less than one mile southeast of Stephen F. Austin State University. Built in 1984, the Class B apartment community is situated on five acres. Woodland Trails consists of seven three-story buildings with 72 two-bedroom/two-bath units, all of which span 900 square feet. The asset is within walking distance to numerous retail businesses and restaurants such as Belk, Payless, Bath & Body Works, JCPenney, Subway, Dollar General, Aaron’s, Arby’s, CVS, Popeye’s, and Brookshire Brothers.

March 12, 2015

The Executive Building 607 William St. Fredericksburg

Office Southeast Virginia

Wack Cos. Buys Office Building in Fredericksburg for $35M Redevelopment Project

by John Nelson March 12, 2015

FREDERICKSBURG, VA. — Wack Cos. has purchased The Executive Building, a 10,000-square-foot office building located at 607 William St. in downtown Fredericksburg, for $2.8 million. Wack Cos. plans to convert the site into a mixed-use development featuring single-level condos, retail space and restaurants. The company plans to break ground on the $35 million project in the fall. Heather Hagerman of Coldwell Banker Commercial represented Thomas Wack of Wack Cos. in the transaction. Mike Degen and Jamie Scully of Cushman & Wakefield | Thalhimer represented the seller, Sandton Capital, formerly known as the Free Lance-Star Cos. Hagerman, Ben Keddie and Joe Pfahler of Coldwell Banker Commercial and Coldwell Banker Elite will manage the sales and leasing of the commercial and retail portions. Hagerman, Kevin Breen Jr. and Conor Breen of Coldwell Banker will manage the sales and marketing of the residences.

March 12, 2015

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