LEHI, UTAH – Hales Engineering has purchased 5,400 square feet of office space in Lehi for an undisclosed sum. The space is located at 1220 North 500 West. The new location will be used for the civil engineering company’s headquarters and main offices. Preston Davis and Kevin Ford of Newmark Grubb ACRES represented both the buyer and seller, Wells Fargo Bank, in this transaction.
COLUMBUS — IKEA plans to open a 354,000-square-foot store in Columbus in the summer of 2017. The proposed store and its 1,200 parking spaces would be built on 33 acres at the Polaris Centers of Commerce development, approximately 15 miles north of downtown Columbus. The property is located at the northeastern corner of I-71 and Gemini Place. IKEA Columbus will feature nearly 10,000 exclusively designed items, 50 inspirational room-settings, three model home interiors, a supervised children’s play area and a 450-seat restaurant. During the construction phase, more than 500 jobs will be created and approximately 300 employees are expected to work at the new store once it opens.
DELAFIELD, WIS. — Ryan Cos. US Inc.’s Great Lakes Region has completed the development of the Children’s Hospital of Wisconsin Delafield Clinic, a new 30,000-square-foot clinic in Delafield. The two-story facility is located at 3195 Hillside Drive on a more than five-acre site. Ryan provided development, design-build construction and real estate management services. Ryan’s development/construction team also included division manager Hans Muecke, senior superintendent Les Fialco and senior project assistant Lisa Sefranek. Zimmerman Architectural Studios Inc. served as the project’s architect of record. Eppstein Uhen Architects provided Interior Design services. Associated Bank provided construction financing for the project.
CHICAGO — Sitex Group has acquired a 128,000-square-foot vacant warehouse located at 5000 S. Homan in Chicago for an undisclosed sales price. Situated on nearly 16 acres, the property is located in the city’s 14th ward near the I-55/Pulaski Avenue interchange. The former CN Railroad distribution facility features 30-foot clear heights, 30 exterior loading docks, grade level access and office space. Sitex Group will soon begin renovations, which will include façade enhancements, parking lot improvements, upgrades to the office space and the addition of modern lighting.
DALLAS — The Greysteel Co. has arranged the sale of Las Brisas, a 244-unit apartment complex in Dallas. The property is located at 9911 Whitehurst Drive. Boyan Radic, Doug Banerjee, Andrew Mueller and John Marshall Doss of Greysteel’s multifamily investment sales team arranged the transaction on behalf of the seller, Exponential Property Group 1 LLC, and the buyer, Whitehurst 9911 Partners LLC.
FORT WORTH — Marcus & Millichap has arranged the sale of Pollo Tropical, a 3,722-square-foot net-leased property located in Fort Worth. Jason Vitorino and Jared Aubrey of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a limited liability company. Another agent based in the firm’s San Diego office procured the buyer, a private investor. Pollo Tropical is located at 8900 Tehama Ridge Pkwy., off I-35 West and North Tarrant Parkway. Built in 2014, the asset has 20-year ground lease on a pad site in front of Costco Wholesale.
PLANO, TEXAS — Junction 15, a mixed-use development in Plano, is now open. Junction 15 is a five-story development with 279 units in studio, one-, two- and three-bedroom layout. Amenities include walk-in utility rooms in select units, hardwood-like flooring and chef-inspired kitchens great for entertaining. The apartments sit above 8,000 square feet of retail space anchored by a 7-Eleven convenience store. Other retailers include Paws Dog Barkery, The Day Spa, Amazeballz and Sweet as Sugar Children’s Boutique. Plano Mayor Harry LaRosiliere and other Plano city officials joined developer Southern Land Co. on Jan. 27 at a grand opening ceremony for the project. Located at 930 E. 15th St. in Plano, the community was developed under a public-private partnership between Southern Land and the city of Plano. Dallas Area Rapid Transit (DART) and the North Central Council of Governments (NCTCOG) also contributed to the development of the project, which is designed to help revitalize of downtown Plano.
FORT WORTH, TEXAS — Hillwood Properties has secured a new lease from Title Source, an independent provider of title insurance, property valuations and settlement services in the nation. The company is the first tenant at the new Hillwood Commons I office complex at Alliance Town Center, and will lease more than 10,000 square feet at the facility. The property is located on the north side of Heritage Trace Parkway.
CHICAGO — Akara Partners plans to develop a two-building, 270,202-square-foot apartment complex at 500 N. Milwaukee in Chicago’s River West Neighborhood Fulton River District near the West Loop. Following demolition of an existing vacant building on the site, Akara will proceed with construction of 227 apartment units, 14,000 square feet of street-level retail space and 102 parking spaces at the northwest corner of Milwaukee and Grand avenues. The design by Pappageorge Haymes Ltd. includes a four-story building on the corner totaling 55,074 square feet and a 14-story building on the other side of Green Street totaling 215,128 square feet. BMO Harris Bank is providing construction financing for the development and Goldman Sachs serves as the equity partner. CA Residential is Akara’s development partner and Tishman Construction is the general contractor. The development is scheduled for completion in 2016.
MARLBOROUGH, MASS. — IPG Photonics has acquired three buildings, totaling 269,000 square feet, in Marlborough. The total purchase price for the properties was $32.4 million. The acquisitions include 156,630 square feet at 377 Simarano Dr. for $25.6 million and a two-building campus located at 257 and 259 Cedar Hill St. for $6.8 million. IPG immediately occupied 12,000 square feet at 377 Simarano Dr. and plans to expand into the balance of the property as space becomes available. IPG is retrofitting the facility at 257 and 259 Cedar Hill St. and plans to move into the property in the second quarter of 2015. IPG Photonics currently occupies approximately 500,000 square feet in nearby Oxford, Mass., and needs additional space to expand its operations. David Stubblebine and James Stubblebine of The Subblebine Company/CORFAC International represented IPG in the transaction.