PLANO, TEXAS — Marcus & Millichap has brokered the sale of Woodburn Corners Medical Park, a 31,760-square-foot medical office property located at 3700 W. 15th St. in Plano. The asset is adjacent to The Medical Center of Plano. Terms of the sale were not released. Ron Hebert, vice president of investments in Marcus & Millichap’s Dallas office, marketed the property on behalf of the seller, a limited liability company. Hebert also procured the buyer, a private investor.
AUSTIN, TEXAS — CBRE Auction Services is facilitating the online auction of 4266 Felter Lane — a combined 22,750-square-foot warehouse and office space on a two-acre site in Austin — as part of a bankruptcy court order. The property is situated two miles from the intersections of U.S. Route 183 and McKinney Falls Parkway, 3.6 miles from I-35 and Texas State Highway 71, and four miles from U.S. Route 183 and Texas State Highway 71. The property will be sold to the highest bidder at or above $400,000. The online auction will be held on Wednesday, March 11. Built in 1984, the one-story property’s warehouse space is approximately 16,750 square feet with an additional 6,000 square feet of office space. The site is currently zoned I-RR (Interim Rural Residence District Designation) and has fenced inside storage.
HOUSTON — NAI Partners has arranged a 45,185-square-foot industrial lease for Columbus McKinnon in Houston.The Amherst, N.Y.-based company is a worldwide designer, manufacturer and marketer of material handling products, systems and services. The industrial space is located at 845 Greens Parkway. Chris Kugle of NAI Partners represented the tenant, Columbus McKinnon. Richard Quarles and Mark Nicholas of JLL represented the landlord, DCT Greens Parkway LP.
BURLESON, TEXAS — Texas Land Group LLC has purchased two-thirds of an acre at Burleson Commons shopping center for a proposed Golden Chick Restaurant. The popular fast food chain, which specializes in fried chicken, has grown to more than 120 stores. The property is located at Highway 174 and FM 731 in Burleson, approximately 16 miles south of Fort Worth. The sellers were Cullinan Properties Ltd. and Burleson Commons LP. Golden Chick will join a future Kroger Marketplace, which is under construction and slated to open later this year, along with Qdoba Mexican Grill, Smashburger, Panda Express, and Roscoe’s BBQ. Neighboring tenants at the intersection include Target, Home Depot, H-E-B and Premier Cinema. Mark Reeder and Tyler Isbell with SRS Real Estate Partners represented Cullinan Properties in the transaction. Cody Lee with Wilco Realtors LLC represented Texas Land Group.
INDIANAPOLIS — Developer Flaherty & Collins Properties will break ground on a 28-story, $121 million mixed-use luxury residential apartment tower on the north parcel of the former site of Market Square Arena. The property is located at the corner of Market and Alabama streets in downtown Indianapolis. The development consists of 292-luxury one-, two- and three-bedroom apartments. The units will feature floor-to-ceiling glass, solar shades, quartz countertops in kitchens and baths, gourmet kitchens with energy-efficient appliances that include side-by-side refrigerators and recessed balconies. Select units will include private terraces.The development, at nearly 300 feet tall, will also feature a 40,000-square-foot Whole Foods Market. A groundbreaking ceremony for the project will take place on Wednesday, Feb. 18.
CLINTON, ILL. — Matanky Realty Group has arranged the sale of Clinton Plaza, a shopping center in Clinton. A private investor purchased the property for an undisclosed sales price. The CVS-anchored plaza is composed of four retail units totaling 17,776 square feet and two outlots totaling 101,929 square feet. The property is located on Illinois Route 54, a half mile from US-51 S and across the street from Clinton High School and Richland Community College Extension Center. Terri Cox of Matanky Realty Group represented the seller, a private Chicago-based real estate corporation.
DOWNERS GROVE, ILL. — Morgan/Harbour has completed a 20,000-square-foot office renovation for LexTech Global Services in Downers Grove. The property is located at 1431 Opus Place within the Executive Towers West I building. LexTech, an enterprise mobile app development firm, is relocating its headquarters to this property from 3080 Ogden Ave. in Lisle, Ill. The build-out included the addition of 27 private offices, large collaboration areas, six conference rooms, 15 team rooms and video conferencing rooms. Features of the new space include exposed construction ceilings, fabric panel ceilings, LED light fixtures and custom millwork throughout. Morgan/Harbour’s construction team included Ben Warriner Sr., Andy MacMillan, Noah Warriner, Marrico Crum and Tom Sawa. Newman Architecture provided architectural services for the project.
NEW YORK CITY — Al Rayyan Tourism Investment Co. (ARTIC), the hospitality subsidiary of Al Faisal Holding Co., has purchased a 97 percent interest in The Manhattan at Times Square Hotel. Rockpoint Group, Highgate Hotels and a Goldman Sachs fund sold the interest for $535 million. Built in 1962, the 22-story hotel features 689 rooms and suites and commercial space. Situated at 790 Seventh Ave., the hotel covers an entire block and offers 900,000 square feet of potential development rights. Hodges Ward Elliott (HWE) represented the sellers in the deal. Additionally, HWE procured the acquisition financing, which was provided by Goldman Sachs, for ARTIC. Highgate Hotels will continue to manage the property.
AURORA, ILL. — HSA Commercial Real Estate represented Denver-based Industrial Income Trust Inc. in a long-term, 147,625-square-foot lease with Casio America Inc. at 1203 Bilter Road in Aurora, a suburb of Chicago. Casio, a manufacturer and seller of consumer electronic devices, will relocate from Glendale Heights, Ill., and will utilize the Aurora facility for its regional distribution operations. HSA Commercial developed the 294,740-square-foot Bilter Road facility in 2007 and sold the property to Industrial Income Trust Inc. as part of a $100 million portfolio sale in 2010. The facility features 30-foot clear heights and is near I-88. Andy Corken of The Modal Group represented Casio America Inc. in the lease transaction. Timothy Thompson of HSA Commercial represented Industrial Income Trust.
RAHWAY, N.J. — Gebroe-Hammer Associates has brokered the sales of two multifamily properties, River Place at Rahway and Alden Apartments, in Rahway. In the first transaction, an undisclosed buyer acquired River Place, located at 190 Lewis St., for $36 million. Built in 2005, the two-building property features 60 one-bedroom and 76 two-bedroom units. Each apartment features ceramic tile kitchens and bathrooms, nine-foot ceiling heights, washer and dryers, fully equipped kitchens and private balconies. On-site amenities include a fitness center, media room, outdoor courtyard, parking and attached garages. Joseph Brecher and Gehane Triarsi of Gebroe-Hammer represented the undisclosed owner, while Ken Uranowitz, also of Gebroe-Hammer, represented the undisclosed buyer in the deal. Additionally, Greg Pine, David Jarvis and Gehane Triarsi of Gebroe-Hammer brokered the sale of Alden Apartments for an undisclosed price. Alden Apartments Complex LLC sold the 32-unit apartment complex to an undisclosed buyer.
