Property Type

Trademark Property Co. Rebrands Mixed-Use Development in Metro Dallas

by Haisten Willis April 28, 2015

CEDAR HILL, TEXAS — Trademark Property Co., the operating partner for Uptown Village at Cedar Hill, has announced the 610,000-square-foot shopping center will be rebranded as Hillside Village. The new name and corresponding new brand were selected to reflect the garden-like look and feel planned as part of a multi-million dollar property renovation to attract a broader trade area, and to pay homage to the community in which it lies. Planned improvements to Hillside Village include enhanced entrances, public spaces and vehicular access, upgraded landscaping, façade improvements, a new children’s play area, new amenities for adults and children, and new signage throughout the property. Hillside Village currently includes 350,000 square feet of specialty stores and restaurants. Anchor retailers are Barnes & Noble, Dillard’s and Dick’s Sporting Goods along with 31,000 square feet of office space. The center features more than 65 tenants including Charming Charlie, Chico’s, H&M (opening this fall) Hollister, James Avery, Old Navy, Papaya, The Children’s Place and Victoria’s Secret.

April 28, 2015

Freedom Financial Network Leases 45,000 SF at Tempe 10/60 Corporate Center

by Nellie Day April 28, 2015

TEMPE, ARIZ. – Freedom Financial Network has leased 45,000 square feet of office space at Tempe 10/60 Corporate Center. The recently redeveloped office project is located at 4415 – 4625 S. Wendler Drive. The property was originally built in 1985. The building is now 50 percent leased. The remaining 45,000-square-foot building is still vacant. This is the financial solutions services company’s second office. Its first is in San Mateo, Calif. Tempe 10/60 Corporate Center was redeveloped by Greenlaw Partners and the Broe Group. Freedom Financial was represented by JLL’s Pat Williams, Steve Corney, Vicki Robinson, Andrew Medley and Chris Corney.

April 28, 2015

California Retail Western

Black Equities Buys Los Angeles Retail Center

by Nellie Day April 28, 2015

LOS ANGELES – Black Equities has purchased a retail center at 7300 Melrose Ave. in Los Angeles for $5.3 million. The center is home to Floyd’s Barbershop and the Dark Room bar and restaurant. The seller, Ness Holdings, purchased the center for $3.8 million in 2013. At that time, the firm renegotiated the anchor tenants’ leases and re-tenanted the additional spaces. The repositioning program was completed and the asset was sold in less than two years.

April 28, 2015

California Office Western

The Board of Equalization Renews Lease at Gateway Corporate Center in Sacramento

by Nellie Day April 28, 2015

SACRAMENTO, CALIF. – The Board of Equalization, the State of California’s elected tax commission, has renewed its lease for 66,593 square feet at Gateway Corporate Center in Sacramento. The Class A building is located at 160 Promenade Circle, near the downtown region. It is situated within Sacramento Gateway, a mixed-use development that includes a hotel and a 655,000-square-foot retail center. The Board was represented by Newmark Cornish & Carey. The landlord was represented by Ron Thomas and Sean Mullen of Cushman & Wakefield’s Sacramento’s office.

April 28, 2015

Hospitality Kansas Midwest

Value Place Changes Name to WoodSpring Suites

by Danielle Everson April 28, 2015

WICHITA, KAN. — Value Place, a value extended stay hotel brand, has changed its name to WoodSpring Suites, effective immediately. In addition, the Wichita-based company is developing a brand extension with a more enhanced offering, WoodSpring Suites Signature, designed to appeal to less price sensitive guests. “Our new brand strategy will foster our ability to further expand our network, gain access to new markets and customer segments, and further drive RevPAR growth for our company owned hotels and development partners,” says Bruce Haase, CEO of the brand. “Leveraging our highly profitable operating model and history of product innovation, we believe that our rebranding strategy will be the catalyst to take the company to the next level of growth and profitability. We are building from a strong foundation.”

April 28, 2015

Loans Multifamily Texas

BMC Capital Provides $2M Loan for Apartment Complex in Longview

by Haisten Willis April 28, 2015

LONGVIEW, TEXAS — Brian Gramlich of BMC Capital’s Dallas office has arranged a $2 million purchase loan for a 100-unit apartment complex located in Longview. The seven-year loan includes a 4.35 percent interest rate and a 25-year amortization schedule. The loan was arranged through one of BMC Capital’s correspondent bank relationships.

April 28, 2015

Illinois Industrial Midwest

Entre Commercial Realty Arranges $2.3M Sale of Industrial Facility in Elk Grove Village, Ill.

by Danielle Everson April 28, 2015

ELK GROVE VILLAGE, ILL. — Entre Commercial Realty has arranged the $2.3 million sale of a 41,600-square-foot industrial facility in Elk Grove Village. Horizon Logistics Inc., which is doing business as Seko Logistics, acquired the property located at 801 Lunt Ave. The free standing, single-tenant building is in close proximity to I-90, I-355 and O’Hare International Airport. Jonathan Kohn and Ron Behm of Colliers International represented the seller, Prologis. Tom Boucher and Dan Jones of Entre Commercial Realty represented Horizon Logistics. Seko Logistics is a 39-year-old global firm that specializes in transportation, logistics, freight forwarding and warehousing.

April 28, 2015

Multifamily Texas

Huffines Breaks Ground on Apartment Community in Metro Dallas

by Haisten Willis April 28, 2015

ROWLETT, TEXAS — Huffines Communities has broken ground on a 650-unit apartment community in Rowlett. Harmony Hill, which will open in two phases, is located at the intersection of Merritt Road and the President George Bush Turnpike. Pre-leasing for the 326 apartments in Harmony Hill’s Phase I will begin in spring 2016. Harmony Hill will include one- and two-bedroom apartment homes in multiple floor plans ranging from 560 to 1,263 square feet. Planned amenities include a 7,000-square-foot clubhouse with a fitness center, business center, swimming pool and pavilion. JHP Architecture / Urban Design designed the buildings and Moore Design Group developed the interior design.

April 28, 2015

Avaya-Regional-Data-Demo-and-Support-Center

Office Texas

M&M Arranges Sale of Office Complex in Metro Dallas

by Haisten Willis April 28, 2015

COPPELL, TEXAS — Marcus & Millichap has arranged the sale of a 96,500-square-foot, single-tenant office building fully leased to Avaya Inc. Built in 1998 on 6.8 acres, the two-story office building is located near the Dallas/Fort Worth International Airport at 1111 Freeport Parkway in Coppell. The property features frontage on I-635, the Lyndon B. Johnson Freeway. Ron Hebert of Marcus & Millichap’s Dallas office represented the seller, KP Dallas LLC. Steve Sauter of firm’s Palo Alto office represented the buyer, Coliseum Storage Associates LLC.

April 28, 2015

Hospitality Texas

Home2 Suites by Hilton Opens New Location in Austin

by Haisten Willis April 28, 2015

AUSTIN, TEXAS — Home2 Suites by Hilton Austin North/Near the Domain is now open. The mid-tier, all-suite hotel brand is designed for business travelers and extended stay guests. Home2 Suites now has nearly 200 hotels in its property pipeline, with another 30 locations scheduled to open by the end of this year. Home2 Suites’ portfolio expansion into Austin, which brings 135 new hotel rooms to the state of Texas, comes on the heels of a major spike in demand for the extended-stay hotel product. Esperanza Hospitality LLC owns Home2 Suites Austin North/Near the Domain, which is located at 2800 Esperanza Crossing.

April 28, 2015

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