Property Type

Quantum Real Estate Advisors Brokers $4.3M Sale of Retail Building in Naperville, Ill.

by Danielle Everson February 11, 2015

NAPERVILLE, ILL. — Quantum Real Estate Advisors Inc. has brokered the $4.3 million sale of a single-tenant retail building in Naperville. The property is located at 1823 Freedom Drive. Fidelity Investments occupies the property. The site is part of the Freedom Commons mixed-use development. Tenants include Morton’s The Steakhouse, Subway, Athletico Physical Therapy, Jason’s Deli and Maggiano’s Little Italy. A real estate investor based in Scottsdale, Ariz., sold the property. A Chicago-based private real estate investor purchased the property. Chad Firsel of Quantum was the sole broker in the transaction.

February 11, 2015

Illinois Industrial Midwest

Millennium Properties Brokers Sale of 61,700 SF Industrial Property in Gurnee, Ill.

by Danielle Everson February 11, 2015

GURNEE, ILL. — Millennium Properties R/E has brokered the $775,000 sale of a 61,700-square-foot industrial facility in Gurnee. The property is located at 3850 Clearview Court within the Hawthorne Industrial Center and is in close proximity to Skokie Highway and I-94. The research and development facility was a former generic drug manufacturing facility. The building includes labs and six loading docks. The bank-owned property was sold to an undisclosed investor that plans to use the facility to expand its presence in the Chicagoland area.

February 11, 2015

Michigan Midwest Retail

Colliers International Arranges 4,100 SF Lease in Plymouth, Mich.

by Danielle Everson February 11, 2015

PLYMOUTH, MICH. — Colliers International has arranged the lease of a 4,100-square-foot retail space in Plymouth. The property is located at 44717 Five Mile Road. Kent Butler of Colliers International represented the landlord, Sheldon Place LP, in the lease transaction. The Little Gym is leasing the space and plans to open its second Michigan location in April. The franchise currently operates 300 locations throughout the country.

February 11, 2015

Mixed-Use Multifamily Retail Texas

Construction Begins on SkyHouse Main Tower in Houston

by Haisten Willis February 11, 2015

HOUSTON — A development team including Jim Borders and Novare Group, with co-sponsor Batson-Cook Development Co., local development partner Peter W. Dienna, general contractor Batson-Cook Construction Co. and architectural firm Smallwood, Reynolds, Stewart, Stewart, has broken ground on SkyHouse Main. The development will be located at 1725 Main St. in Houston and will feature 336 residences across 24 stories, along with 7,200 square feet of street-level retail space. SkyHouse Main apartment homes will have floor-to-ceiling glass and high-end finishes, including stainless steel appliances, granite countertops, wood floors, balconies and high-speed Internet. The amenity package included a top floor featuring a club room, fitness center, pool and grilling area and unimpeded views of Houston. The project is within walking distance of more than 40 million square feet of office space, the Toyota Center, Minute Maid Park and BBVA Compass Stadium. The project will be adjacent to the Bell Station Metrorail stop, providing access to the Texas Medical Center. SkyHouse Main is the 14th SkyHouse-branded apartment community in the United States following projects in Dallas, Houston, Austin, Atlanta, Tampa, Orlando, Charlotte and Raleigh. The project will generate more than 500 temporary construction jobs and about 50 permanent jobs when finished. Batson-Cook Development …

February 11, 2015

Office Texas

CPA:17 – Global Acquires Office and Data Center in San Antonio for $22M

by Haisten Willis February 11, 2015

SAN ANTONIO — W. P. Carey Inc., a global net lease REIT specializing in corporate sale-leaseback financing, build-to-suit financing and the acquisition of single-tenant net lease properties, has acquired an office and data center facility on behalf of CPA:17 – Global, one of its managed non-traded REITs. The 120,147-square-foot facility is located in San Antonio and is leased to iHeartCommunications Inc. for a period of 20 years. The total acquisition price was approximately $22 million. Constructed in 2002 as a build-to-suit for Clear Channel, the facility serves as the company’s primary IT and finance shared service center.

February 11, 2015

Retail Texas

Outdoor Retailer Gander Mountain to Open Metro Dallas Store

by Haisten Willis February 11, 2015

FRISCO, TEXAS — Gander Mountain, an outdoor retailer, will open a new location in Frisco this fall. The newest Gander Mountain store will be located in a new 60,100-square-foot space in the Eldorado Marketplace, near the northeast corner of Eldorado Parkway and Dallas North Tollway. It will be the 22nd Gander Mountain location in Texas, and the fifth in the Dallas-Fort Worth Metroplex. Gander Mountain’s newest store will feature one of the largest selections of new and used firearms in Texas, together with the best selection of gear and accessories for hunting, fishing, camping, boating and archery. The store will offer a selection of men’s and women’s active performance outdoor and casual apparel featuring brands like Under Armour, The North Face, GSX, Columbia, Carhartt, Guide Series and Kühl, and a variety of men’s and women’s active footwear featuring brands like Asics, Merrell, Rocky, Reebok, Reef, Keen, Irish Setter, Teva, New Balance, Patagonia, Timberland, LaCrosse, Itasca, Saucony and Salomon.

February 11, 2015

Multifamily Texas

Henry S. Miller Arranges Sale of Apartment Complex in Dallas

by Haisten Willis February 11, 2015

DALLAS — Henry S. Miller Co.’s Fred Dumlao has brokered the purchase of Las Brisas Apartments. The 244-unit apartment complex is located at 9911 Whitehurst Drive in northeast Dallas, just south of I-635. Whitehurst 9911 Partners LLC purchased the apartment complex and has chosen City Gate Property Group as the property management partner. Greysteel represented the seller in the transaction.

February 11, 2015

Retail Texas

M&M Arranges Sale of 9,801 SF Net-Leased Property in Rio Grande Valley

by Haisten Willis February 11, 2015

BROWNSVILLE, TEXAS — Marcus & Millichap has arranged the sale of Advanced Auto Parts, a 9,801-square-foot, net-leased property located in Brownsville. Jason Vitorino and Adam Gottschalk of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a private investor. Hank Wolfer, an investment specialist in the firm’s Seattle office, procured the buyer, a trust group based in Kansas. Advanced Auto Parts is located at 3740 International Blvd. in Brownsville, less than 1.5 miles from US Highway 77. Constructed in 2004 on 2.2 acres, the property is surrounded by tenants including Walmart, The Home Depot, GameStop, State Farm, CVS, Dairy Queen, Sally Beauty Supply, Subway and RadioShack. At the time of listing, Advanced Auto Parts had approximately five years remaining on its 15-year, corporately guaranteed net lease.

February 11, 2015

Florida Multifamily Southeast

Atlantic|Pacific Opens Luxury Apartment Community in Port St. Lucie

by John Nelson February 11, 2015

PORT ST. LUCIE, FLA. — Atlantic | Pacific Development (A|P Development), the development platform under Atlantic | Pacific Cos. (A|P Cos.), has opened The Atlantic at Tradition, a 252-unit luxury apartment community in Port St. Lucie. The property is the Town of Tradition’s first luxury apartment community. The property features a swimming pool, fitness center, meeting rooms, children’s playroom, movie theater and an outdoor summer kitchen. Each unit features kitchens with stainless steel appliances, wood flooring in all living areas, washer and dryer units and personal balconies and patios.

February 11, 2015

Georgia Industrial Loans Southeast

HFF Arranges $8.3M Acquisition Loan for Two-Building Portfolio in Midtown Atlanta

by John Nelson February 11, 2015

ATLANTA — HFF has arranged $8.3 million in acquisition financing for Midtown West, a portfolio of two industrial warehouses and an adjacent 3.2-acre parcel in Midtown Atlanta. The borrower, a joint venture between Stream Realty Partners and a private joint venture partner, plan to convert the two buildings, which total 75,000 square feet, and the adjacent parcel into loft office space. The properties are located at 1460, 1494 and 1510 Ellsworth Industrial Blvd. N.W. Stream plans to reintroduce the project as Ellsworth in June 2015. The conversion will create speculative office studios ranging from 1,500 to 6,000 square feet at 1494 Ellsworth, while 1510 Ellsworth will be marketed for single-tenant use. Travis Anderson, Gregg Shapiro and Cory Fowler of HFF negotiated the financing on behalf of the borrower.

February 11, 2015

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