COLORADO SPRINGS, COLO. – Budget Self Storage, a 51,400-square-foot self-storage facility in Colorado Springs, has sold to an unnamed buyer for $3.4 million. The property is located at 4915 Galley Road. It was 97 percent occupied at the time of sale. The seller, an LLC, was represented by Adam Schlosser, Chico LeClaire and Matt Tyler of Marcus & Millichap’s Denver office.
DALLAS — Marcus & Millichap has arranged the sale of Hamilton Village, a 34-unit, Class C apartment complex in Dallas. Hamilton Village is located at 3201 Hamilton Ave. in Dallas, just east of I-45 and southeast of I-30 in the Fair Park submarket. The property was built in 1964 and consists of three buildings with one-, two- and three-bedroom floor plans. Stephen Crittenden, Michael Ware and William Jarnagin of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a private investor. Crittenden, Jarnagin and Ware also procured the buyer, a private investor.
LEAGUE CITY, TEXAS — Slingerland Properties LLC has purchased a 7,500-square-foot industrial building in League City. The property is located at 1205 Butler Road in the Brittany Business Park. Taylor Schmidt and Reed Vestal of TNRG brokered the transaction.
WILLOWBROOK, ILL. — Morgan/Harbour will complete a 26,000-square-foot office renovation and a 5,000-square-foot office expansion for Midtronics in Willowbrook. The property is located at 7000 Monroe St. in the southwest suburb of Chicago. Construction at the headquarters will feature the addition of 140 office workstations, new AV systems, a new executive boardroom and two meeting rooms. Morgan/Harbour will also complete extensive millwork, replace all flooring, apply new paint and lighting throughout as well as replace all light fixtures and install new acoustical ceiling tiles. A mezzanine will be constructed above the cafeteria to serve as additional seating for meetings or collaborative *breakout areas. Construction is scheduled for completion in late spring 2015. Morgan/Harbour’s construction team included Ben Warriner, Graeme Foster, Scott Heguy and Keith Zagroba. Ware Malcomb is providing architectural services. Midtronics develops and markets technologies for battery management.
GRIMES, IOWA — Hubbell Realty Co. has begun construction on three new apartment buildings and a clubhouse at Meadowlark Place, an apartment community in Grimes. The third phase of expansion, totaling $9.3 million, is located at 1000 S.E. 11th St. The complex is undergoing another expansion with the addition of 90 apartment units, a second community clubhouse, a pool surrounded by expansive patio areas and 58 garages. Following the completion of construction, Meadowlark Place will feature two clubhouses that will both feature a 24-hour fitness center, theater room and community room. Meadowlark Place, a mixed-income project with both market rate and affordable housing units, includes one-, two- and three-bedroom apartment homes. The units feature in-unit washers/dryers, designer appliances, patios or decks, accent paint colors and spacious closets. Hubbell Construction Services is building the project. Meadowlark Place’s new apartment homes will be available beginning in spring 2015.
SPRINGDALE, OHIO —Marcus & Millichap has brokered the $5.2 million sale of a 48,300-square-foot retail property in Springdale, an area on the northeast side of Cincinnati. Wimbledons Plaza is located at 11770-11818 Springfield Pike. An Outback Steakhouse anchors the shopping center. Tenants include Penn Station, H&R Block, Select Staffing, Dairy Queen and other local and regional tenants. C.J. Jackson, Erin Patton, Craig Fuller and Scott Wiles of Marcus & Millichap’s Columbus and Cleveland offices represented the seller, a regional owner and developer. Nathan Whalen of the firm’s Indianapolis office represented the buyer, a private investment group.
UNIVERSITY CITY, MO. — Cushman & Wakefield | Gateway Commercial has arranged the lease of a 1,400-square-foot retail space in University City. Racanelli’s Pizza will occupy space at 6314 Delmar Blvd. Dan Rossini of Cushman & Wakefield represented the tenant. NAI Desco represented the landlord, FRANCO Inc., in the transaction.
ATLANTA — Wood Partners has begun construction on 33 Peachtree Place, a $100 million mixed-use development on West Peachtree Street in Midtown Atlanta. The project will include a 21-story high-rise and mid-rise apartment building totaling 369 residential units (including five penthouse suites) and 20,000 square feet of ground-level retail space. The project will be Atlanta’s first multifamily property to utilize natural gas for heating, cooling, water and cooking. The property’s amenity offerings include a dog-friendly resident park, resort-style pool deck, club rooms, half-acre private park and courtyard space and more than 500 parking spaces. Prudential Real Estate Investors (PREI) was the seller of the site, a former parking lot for the 10 Peachtree Place building. PREI is also Wood Partners’ equity partner for 33 Peachtree Place. The general contractor, Balfour Beatty, expects to complete the project by the third quarter of 2016.
CHANTILLY, VA. — NAI KLNB has brokered the $60.5 million sale of a five-building office portfolio totaling 318,000 square feet in Chantilly, roughly 30 miles west of Washington, D.C. Hayden Maguire Real Estate Fund purchased the portfolio, which is located in Avion Business Park, from JPMCC 2006-CIBC14 Chantilly Office LLC. The Class A properties included MidRise I at 14500 Avion Parkway; MidRise II at 14520 Avion Parkway; Service Center III at 3650 Concorde Parkway; Avion Tech Center II at 14700 Avion Parkway; and Avion Tech Center III at 3635 Concord Parkway. Avion Business Park was originally developed by Trammell Crow Co. between 1987 and 2001. Kevin Goeller, Chris Kubler and Josh Simon of NAI KLNB, along with C-III Realty Services LLC, represented the seller in the transaction.
NEWPORT, KY. — Inland Real Estate Corp., in a joint venture arrangement with Dutch pension advisor PGGM, has acquired Phase II of Newport Pavilion, a shopping center located in Newport, part of the Cincinnati MSA. Inland and PGGM purchased the 115,000-square-foot asset for $23.6 million. Phase II’s tenant roster includes Dick’s Sporting Goods, T.J. Maxx, Buffalo Wild Wings, Panera Bread, Chipotle Mexican Grill, T-Mobile and Sport Clips. The Inland-PGGM joint venture purchased Phase I of Newport Pavilion earlier this year. The entire 337,300-square-foot power center is currently 96 percent leased.