Property Type

Transwestern Arranges Sale of Multifamily Property in Metro Dallas

by Haisten Willis August 11, 2015

DUNCANVILLE, TEXAS — Transwestern has arranged the sale of Wimberly Park Apartments, a 440-unit property in Duncanville, to a local buyer. Taylor Snoddy Philip Wiegand and James Roberts of Transwestern represented the unnamed seller. The buyer was self-represented and plans significant renovations on the property. The Class B asset is located on 21 acres and has floor plans of 869 square feet with a washer and dryer connection in every unit. Property amenities include a clubhouse, fitness center, business center, three swimming pools and a playground. Wimberly Park was 93 percent occupied at the time of sale.

August 11, 2015

Three New Tenants Lease Space at Mixed-Use Development in Metro Houston

by Haisten Willis August 11, 2015

CYPRESS, TEXAS — Three new tenants have signed leases at Caldwell Cos.’ Boardwalk at Towne Lake development, including Jaxton’s, Taisho and Copper Creek Orthodontics. The Boardwalk at Towne Lake is a 150,000-square-foot, waterfront development that is accessible by car and boat. The development will provide 40,000 square feet of waterfront office space and 60,000 square feet of retail space across four buildings. Jason Howard, the maître d’ at Tony’s Restaurant for the last eight years, is founding Jaxton’s, a new restaurant concept that will combine French and Italian cuisine. The team that has opened 11 Shogun Grill restaurants around Texas will open Taisho, a Japanese establishment that specializes in the hibachi and teppanykai style of cooking. Copper Creek Orthodontics will be relocating to a second-floor waterfront office in The Boardwalk at Towne Lake, set to open in spring 2015.

August 11, 2015

Industrial Office Texas

AutoWash Services Buys Site for Headquarters, Operations Center in Metro Dallas

by Haisten Willis August 11, 2015

GRAND PRAIRIE, TEXAS — AutoWash Services has purchased a 29,480-square-foot office/warehouse space in Dallas’ Great Southwest Industrial District to relocate its headquarters and operations center from downtown Arlington. Casey Tounget and Theron Bryant of Coldwell Banker Commercial Alliance DFW represented the buyer, whose current location at 1305 E. Abrams Road is being impacted by a city project to widen the east-west thoroughfare. Upon completion of the transaction, AutoWash Services will immediately relocate to 2925 114th St. in Grand Prairie, ending nearly one year of searching for a new location in the greater Arlington area. AutoWash Services is a wholesale supplier of car wash equipment and supplies and provides construction/design services. Michael Stanzel of NAI Robert Lynn represented the seller, Ralph McMillan, who owns RAMCO Laundry Machinery Inc. Situated on 1.6 acres, the light-industrial structure features a 3,504-square-foot office space, 24-foot clear heights, four dock doors, one drive-up ramp, a staging bay, 120-foot truck court and 37 parking spaces. The infrastructure includes heavy power and a sprinkler system.

August 11, 2015

Office Texas

DTZ Arranges Office Lease in Metro Dallas

by Haisten Willis August 11, 2015

WESTLAKE, TEXAS — Echo Locum Tenens Inc. has leased 34,188 square feet of office space in Solana at 7 Village Circle in Westlake. Josh White and Neal Puckett of CBRE represented Echo Locum Tenens Inc. Chris Taylor, Rodney Helm, Trey Smith and Layne Mayfield with DTZ represented the landlord, Equity Office Properties, an affiliate of The Blackstone Group.

August 11, 2015

Retail Texas

Henry S. Miller Negotiates Sale of Minority Interest in Two Retail Centers in North Dallas

by Haisten Willis August 11, 2015

DALLAS — Henry S. Miller Cos. has negotiated the sale of a 49 percent ownership interest in two of its largest North Dallas shopping centers to a private family trust. The two properties are Market at Pepper Square, a 281,153-square-foot shopping center anchored by Stein Mart, Hobby Lobby and Trader Joe’s located at the southeast corner of Preston Road and Beltline Road; and Central Forest Shopping Center, a 94,879-square-foot shopping center anchored by Office Depot located at North Central Expressway and Forest Lane. Jim Brownlow of HSM Equities arranged the sale. Robert DuBois of Henry S. Miller negotiated the terms of the transaction on behalf of the seller.

August 11, 2015

A rendering of First Park 94 to be built in Somers, Wis.

Industrial Midwest Wisconsin

First Industrial Realty to Develop 309-Acre Business Park in Southeast Wisconsin

by Jeff Shaw August 11, 2015

SOMERS, WIS. — First Industrial Realty Trust Inc. (NYSE: FR) has unveiled plans to develop First Park 94, a master-planned business park in Somers, located eight miles north of the Illinois/Wisconsin border. First Park 94 will be built on 309 acres that First Industrial recently acquired for $13.4 million. Somers is situated in Kenosha, Wis., an industrial submarket of Chicago. The first phase of First Park 94 calls for the commencement of infrastructure work and construction of a 600,000-square-foot cross-dock distribution center featuring 36-foot clear heights, 185-foot truck courts, generous trailer parking, extensive dock-high loading, and an ESFR sprinkler system. In total, First Park 94 can accommodate approximately 4.6 million square feet of development including build-to-suits ranging from 150,000 square feet to 1.5 million square feet. The site is accessible to I-94 from three four-way interchanges and offers frontage along the Canadian Pacific Railway with potential rail access. First Park 94 is located less than one hour from both O’Hare International Airport in Chicago and Mitchell International Airport in Milwaukee. First Industrial’s development team for this project is comprised of Adam Moore, regional director; Chad Parrish, director of development; Jim Schlundt, operations director; and Brad Kluever, investment associate. As of June …

August 11, 2015

Michigan Midwest Retail

Mid-America Arranges Sale of 99,564 SF Grocery-Anchored Center in West Michigan

by Jeff Shaw August 11, 2015

WAYLAND, MICH. — Mid-America Real Estate Corp. has brokered the sale of Chambers Corners, a 99,564-square-foot, grocery-anchored retail center in Wayland, about 21 miles south of Grand Rapids, Mich. The sales price was undisclosed. A private investment group led by Joel Kiss of Ramapo, N.Y.-based Northeast Capital Group and Jacob Berger of Montreal, Quebec-based Hampton Properties purchased the retail center. The seller was an undisclosed public real estate investment trust. Chambers Corners is located at the southeast corner of U.S. 131 and Superior Street in Wayland, an established bedroom community. The retail center is anchored by Harding’s Friendly Market and Family Farm & Home, and is complemented by tenants including Family Dollar, Sprint and Hungry Howie’s Pizza. Carly Gallagher and Ben Wineman of Mid-America Real Estate Corp., in cooperation with Daniel Stern of Mid-America Real Estate–Michigan Inc., were the exclusive brokers in the transaction on behalf of the public REIT.

August 11, 2015

Midwest Multifamily Ohio

Reichle Klein Group Brokers $4.15M Apartment Sale in Bowling Green, Ohio

by Jeff Shaw August 11, 2015

BOWLING GREEN, OHIO — Reichle Klein Group has brokered the $4.15 million sale of Green Meadow Apartments, a 190-unit apartment complex in Bowling Green, about 25 miles south of Toledo. Located at 214 Napoleon Road, Green Meadows Apartments consists of one- and two-bedroom units. The apartment complex features a centralized laundry facility, 24-hour maintenance service, locked mailboxes and ample parking. Green Meadow Apartments is within walking distance of local drug, automotive, grocery and furniture stores. Walter (Tony) Plath and Harlan Reichle of Reichle Klein Group’s Investment Property Advisors Apartment Group represented the seller, a private investor from Santa Barbara, Calif., in the transaction. The buyer was Park Avenue Realty of Union, N.J.

August 11, 2015

Oakley Industrial Machinery Inc. is a tenant at 1601 Lunt Ave.

Illinois Industrial Midwest

Lee & Associates Arranges 35,791 SF Industrial Lease in Elk Grove, Ill.

by Jeff Shaw August 11, 2015

ELK GROVE VILLAGE, ILL. — Lee & Associates has negotiated a lease for a 35,791-square-foot industrial space located at 1601 Lunt Ave. in Elk Grove Village, approximately 25 miles northwest of Chicago. Chris Nelson, principal at Lee & Associates of Illinois, represented the landlord, Colony Capital. Phil Reif of Paine Wetzel represented the tenant, Oakley Industrial Machinery Inc., a manufacturer of heating element production machinery and terminal pins.

August 11, 2015

Indiana Industrial Midwest Retail

Bradley Co. Negotiates Leases Totaling More than 15,000 SF in Fort Wayne

by Jeff Shaw August 11, 2015

FORT WAYNE, IND. — Bradley Co. has arranged two leases totaling more than 15,000 square feet in Fort Wayne. In the first transaction, Mike Dahm represented the landlord, Industrial Road Enterprises, as well as the tenant, HD Supply Waterworks, in the lease renewal of 13,480 square feet of industrial space located at 5120 Industrial Road. In the second transaction, Dahm and Kelly Castle represented the tenant, RPM Pizza Midwest LLC, in the lease of 2,130 square feet of retail space located at 301 W. Jefferson Blvd. Bradley Co. has served the Northern Indiana and West Michigan commercial real estate market since 1978.

August 11, 2015

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