SAN DIEGO – Dynamex has leased a five-year lease for a 59,317-square-foot industrial distribution warehouse in San Diego. The space is located at 7130 Miramar Road. The lease is valued at $2.5 million. The transportation service company will use this space as a distribution center. The company was represented by Evan McDonald of Colliers International. The landlord, Morgan Stanley, was represented by Ryan Spradling of Cassidy Turley.
DENVER – A 2,900-square-foot retail space in Denver that is triple-net leased to 7-Eleven has sold to a private investor for $1.8 million. The space is located at 450 Federal Blvd. It was built in 2012. The seller, a private investor from Texas, was represented by Jonathan Selznick and Jeff Hauber of Hanley Investment Group.
SCOTTSDALE, ARIZ. – Lo-Lo’s Chicken & Waffles has opened a 5,400-square-foot location in Scottsdale. The space is located at 3133 N. Scottsdale Road. The new location was built by LGE Design Build. An additional location is set to open at 366 N. Gilbert Road in Gilbert this December.
ADDISON, TEXAS — Marcus & Millichap has arranged the sale of Holiday Inn Dallas-North Addison, a 101-room hotel located in Addison, a northern suburb of Dallas. Chris Gomes of Marcus & Millichap’s San Antonio office marketed the property on behalf of the seller, a Texas-based limited liability company. Gomes also procured the buyer, a private investor. Holiday Inn Dallas-North Addison is located at 4960 Arapaho Road. It was built in 2000 and renovated in 2009. Amenities include a business center, gym, swimming pool and on-site restaurant.
GARLAND, TEXAS — Lee & Associates has negotiated the sale of a 47,500-square-foot industrial building located at 2514 National Drive in Garland. George Tanghongs and Brett Lewis of Lee & Associates’ Dallas/Fort Worth office represented the buyer, Vesgro Corp. Colliers International represented the unnamed seller.
THE WOODLANDS, TEXAS — NorthMarq Capital has arranged the sale of Saddlebrook Plaza, a 26,400-square-foot retail property located in The Woodlands. The 10-year loan was structured with a 25-year amortization schedule and 4 percent interest rate. Tenants in the property include Goodwill and Papa Murphy’s. Warren Hitchcock of NorthMarq’s Houston office led NorthMarq’s team in the transaction.
HOUSTON — NAI Houston represented Andrews Fabrication in the expansion of its 21,000-square-foot industrial lease at 1528 Mooney Road. Jake Wilkinson of NAI Houston represented the tenant in the transaction. Patrick Wolford of TNRG represented the landlord, Rob Pelletier Construction Inc.
INDIANAPOLIS — Mission Capital Advisors’ debt and equity finance group has arranged $31.4 million in construction financing for a 215-unit multifamily complex in Indianapolis. The financing comprised $7.1 million of institutional joint venture equity and a $24.3 million construction loan for the 225,000-square-foot project. A local sponsor is developing the project, which is located at 600 E. Michigan St. The project will comprise two, four-story multifamily structures around a landscaped courtyard with a resort-style pool, constructed over one level of subterranean parking. Brad Lyons, Ari Hirt and Steven Buchwald of Mission Capital Advisors represented the sponsor in arranging the financing with PNC Bank.
CLEVELAND — Value Place has opened a newly constructed extended-stay hotel in Cleveland. The property is located at the intersection of I-480 and Grayton Road at 20829 Emerald Parkway. The new four-story, 124-room hotel features laundry facilities, high-speed wireless Internet and modified kitchens. The hotel opened Oct. 10. This is Value Place’s 10th hotel in Ohio. A ribbon-cutting event is planned for Oct. 23.
CHICAGO — Morgan/Harbour has completed the first phase of renovations planned for Kehoe Designs in Chicago. The full-service event décor and design company will occupy space at 2555 S. Leavitt St. The firm is consolidating four locations, including its headquarters at 2108 W. Walnut St. in Chicago, and relocating to the Pilsen neighborhood warehouse. The first phase of the construction totaled 20,000 square feet and included the addition of four showrooms along with new production areas for floral, fabrics, lighting, graphics, welding, carpentry and CNC production departments. The second phase of construction, which is currently underway, will include converting 25,000 square feet of industrial space into an event space that can accommodate up to 1,000 attendees. Morgan/Harbour’s construction team includes Graeme Foster and Jerry Hawkinson. FitzGerald Associates Architects is providing the architectural services for the renovation project.