Property Type

Kendra Scott Design Relocates Headquarters to Mixed-Use Development in Austin

by Haisten Willis January 30, 2015

AUSTIN, TEXAS — Kendra Scott Design (KSD) is consolidating its corporate headquarters and moving to a new home at Lamar Central, a Class-A, mixed-use development located at 38th Street and Lamar Boulevard in Austin. Highland Resources, the project’s developer, has signed the jeweler to a 10-year lease. KSD will lease Lamar Central’s entire fourth floor, spanning 43,500 square feet, for its headquarters, and an additional 1,500 square feet on the ground floor to open a flagship Austin retail location. The company plans to relocate to its new home by the end of the year. Cushman & Wakefield/Oxford Commercial, on behalf of Highland Resources and JLL, represented KSD in the transaction. CBRE and JLL negotiated the retail lease. Lamar Central is a four-story, 165,000-square-foot mixed-use development featuring more than 132,000 square feet of office space with an additional 33,000 square feet of retail and restaurant space. Construction is slated for completion in the third quarter of 2015. On-site amenities include floor-to-ceiling windows, garage parking with a direct connection into each tenant floor, a landscaped courtyard with patios for outdoor dining, car-charging stations, bike storage, showers and changing rooms.

January 30, 2015

Logistics Center I Opens at DFW Airport

by Haisten Willis January 30, 2015

COPPELL, TEXAS — Construction is complete on Logistics Center I, the largest non-terminal development ever built at Dallas/Fort Worth International Airport. Officials from the airport, the city of Coppell, and joint venture developers Hillwood Investment Properties and Perot Development Co. held a ribbon cutting ceremony for the 1 million-square-foot, cross-dock facility on Jan. 29. Logistics Center I will be a distribution center located at 2701 W. Bethel Rd. in Coppell. The development is situated on 60 acres located near I-635, I-35 East, I-35 West, State Highway 114, State Highway 121 and the President George Bush Turnpike. Features include minimum 36-foot clear ceiling heights, over 200 dock doors, 550 parking spots and 500 trailer storage positions. The facility was built on a speculative basis. Halff Associates served as the project architect and civil engineer and Hillwood Construction Services was the general contractor.

January 30, 2015

Midwest Minnesota Retail

Saks Fifth Avenue OFF 5TH Signs Lease at Minneapolis City Center

by Danielle Everson January 30, 2015

MINNEAPOLIS — Saks Fifth Avenue OFF 5TH has signed a lease for 40,321 square feet in the retail portion of Minneapolis City Center. The new store is slated to open in April 2016. Saks Fifth Avenue OFF 5TH will occupy ground-floor space and more than 16,000 square feet on the skyway level. The space anchors the 250,000-square-foot retail portion of Minneapolis City Center. The store is located near the main entrance of the center, at 6th St. and Nicollet Mall. Minneapolis City Center is the two-story retail portion of the 1.6 million-square-foot mixed-use property owned by Shorenstein Properties at 33 S. Sixth St. Shorenstein acquired Minneapolis City Center in 2012 and has made several improvements including repositioning and re-tenanting the retail space.

January 30, 2015

Retail Texas

Marcus & Millichap Arranges Sale of Net-Leased Property in Metro Austin

by Haisten Willis January 30, 2015

ROUND ROCK, TEXAS — Marcus & Millichap has arranged the sale of Christian Brothers Automotive, a 4,945-square-foot, net-leased property located in Round Rock. Jason Vitorino of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a private investor. Robb Johnson of the firm’s San Diego office procured the buyer, an out-of-state private investor. The transaction was part of a 1031 exchange. The buyer sold a manufactured home community asset on the West Coast and acquired three single-tenant, long-term, net-leased properties. Chad O’Connor of Marcus & Millichap Capital Corporation’s San Diego office arranged financing. Christian Brothers Automotive is located at 413 Louis Henna Blvd., just southeast of the I-35 and State Highway 45 interchange.

January 30, 2015

Illinois Industrial Midwest

M&M Brokers $2M Sale 45,883 SF Industrial Property in Alsip, Ill.

by Danielle Everson January 30, 2015

ALSIP, ILL. — Marcus & Millichap has brokered the $2 million sale of Fasco Inc., a 45,883-square-foot, net-leased property located in Alsip. Fasco Inc. is located at 11610 S. Austin Ave. The property is a tilt-up concrete building and has a rentable area of 50,483 square feet. Approximately 20 percent of the building is office space. Sean O’Brien of Marcus & Millichap’s Chicago Oak Brook office marketed the property on behalf of the seller, a private investor, and represented the buyer, another private investor.

January 30, 2015

Midwest Retail Wisconsin

Mid-America Real Estate Arranges 1,100 SF Lease in Kenosha, Wis.

by Danielle Everson January 30, 2015

KENOSHA, WIS. — Mid-America Real Estate – Wisconsin LLC has arranged a 1,100-square-foot retail lease in Kenosha. Remax Leading Egde has leased space within Southport Plaza located 7200 Green Bay Road. Teresa Shemitis of Mid-America represented the landlord and Tony Colvin of Mid-America represented the tenant in the transaction.

January 30, 2015

Illinois Industrial Midwest

Darwin Arranges Sale of 1,500 SF Industrial Condo in Roselle

by Danielle Everson January 30, 2015

ROSELLE, ILL. — Darwin Realty & Development Corp. has brokered the sale of a 1,500-square-foot industrial condo unit in Roselle. The #208 condo unit is located at 820 W. Lake St. Mas Plumbing leased the space, which will be used as the base of operations for the firm’s plumbing business. Dan Fanelli of Darwin represented the undisclosed buyer. Russ Nelms of Coldwell Banker represented undisclosed the seller.

January 30, 2015

Multifamily New York Northeast

Marcus & Millichap Brokers $12.6M Manhattan Apartment Building Sale

by Amy Works January 30, 2015

NEW YORK CITY — Marcus & Millichap has brokered the sale an apartment building located at 425-431 West 205th St. in Manhattan’s Inwood neighborhood. The six-story, 72-unit elevator building sold for $12.6 million, or $175,000 per unit. Peter Von Der Ahe, Scott Edelstein, Seth Glasser and Rafi Moskowitz of Marcus & Millichap’s Manhattan office represented the seller, a private individual, and the buyer, a family partnership, in the transaction.

January 30, 2015

New York Northeast Office Retail

TerraCRG Arranges $7.5M Sale of Brooklyn Commercial Property

by Amy Works January 30, 2015

NEW YORK CITY — TerraCRG has arranged the sale of a commercial property located at 340 Wythe Ave. in the Williamsburg neighborhood of Brooklyn. The 8,633-square-foot property sold for $7.5 million. The property site is zoned M3-1, which allows for approximately 17,266 gross buildable square feet of commercial development, including office or retail space. Ofer Cohen, Melissa Warren, Peter Matheos, Dan Marks and Michael Hernandez of TerraCRG represented the seller in the deal.

January 30, 2015

Multifamily New York Northeast

Ariel Property Advisors Negotiates $6.5M Apartment Building Sale in NYC

by Amy Works January 30, 2015

NEW YORK CITY — Ariel Property Advisors has brokered the sale of a five-story multifamily building, located at 309 West 111th St. in New York City’s Morningside Heights section. The 12,310-square-foot property sold for $6.5 million. The 16-unit property offers a mix of two- and three-bedroom units. Shimon Shkury, Victor Sozio, Michael Tortorici, Josh Berkowitz and Marko Agbaba of Ariel Property Advisors represented the seller and procured the buyer, both real estate investment groups, in the deal.

January 30, 2015

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