PARSIPPANY, N.J. — JLL has recently completed managing the construction of the Lexus Eastern Area Office and Training Facility at 300 Webro Road in Parsippany for Toyota Motor Sales U.S.A. Inc. The team obtained LEED for Commercial Interiors Platinum certification for the 32,000-square-foot office and warehouse facility, which will serve as a training center for Lexus dealerships throughout the Northeast and Mid-Atlantic regions. This is the first LEED Platinum project for the Lexus area training center program. JLL was retained by Toyota Motor Sales U.S.A. Inc. in September 2012 to provide project management services for the construction of the facility. The company broke ground on the facility in early April 2013. The JLL team overseeing the project management assignment was led by Jerry Sullivan and Eric Brown. LEED certification coordination was led by Dana Schneider and Jasmine Davis.
Property Type
HOUSTON — Marcus & Millichap has brokered the sale of South Wayside Village, a 29,364-square-foot shopping center in Houston. Tenants of the property include T-Mobile, PLS Check Cashers, Shipley Do-Nuts and South Texas Dental. Developed in 2006, the center is located at 5819 Gulf Freeway and is shadow-anchored by a Walmart Supercenter. Justin Miller and Derek Hargrove of Marcus & Millichap marketed the asset on behalf of the seller, a locally based developer, and also secured the buyer, an all-cash local private partnership.
IRVING, TEXAS — Cassidy Turley has arranged a 22,347-square-foot office lease in Irving for GM Financial, the arm of General Motors that provides automotive financing for individuals through dealerships nationwide. The tenant will occupy space within the Mandalay Tower, a 12-story, Class A property located at 220 E. Las Colinas Blvd. Rick Hopwood of Red Oak Realty represented GM Financial in the lease negotiations. Rodney Helm and Chris Taylor of Cassidy Turley represented the landlords, Parmenter Realty Partners and American National Insurance Co.
EL PASO, TEXAS — Centergy Retail has leased 22,000 square feet of retail space in El Paso to home furnishings store West Elm. The retailer will occupy a two-story facility within the lifestyle area, known as The Promenade, at Centergy’s open-air The Fountains at Farah development. West Elm, a Williams-Sonoma brand, will join other stores in The Promenade, such as Charlotte Russe and LOFT, when it opens in the fall. Located on the northeast corner of Hawkins Boulevard and I-10, The Fountains at Farah will include more than 600,000 square feet of retail, restaurant and entertainment space when fully developed.
PONDER, TEXAS — Henry S. Miller Brokerage has arranged the lease of a 16,000-square-foot industrial building in the far north Dallas/Fort Worth suburb of Ponder. Sharewell HDD Drilling Products, a supplier of equipment and services for the drilling industry, will occupy the facility, which is located at the intersection of FM 2449 and South Florance Road. Brett Owens of Transwestern represented the tenant in the negotiations. Grant Brodeur of Henry S. Miller Brokerage represented the landlord, New Castle Properties.
PHOENIX — Parkway Properties has commenced construction on Hayden Ferry III, a 261,000-square-foot office building in Phoenix. The development will be located along the south shore of Tempe Town Lake. It is the final phase of Parkway’s 780,000-square-foot, master-planned office community. The total project is expected to cost $68.8 million.
REDLANDS, CALIF. — Innotrac Corporation will debut its newest direct-to-consumer fulfillment center next month in Redlands. The 300,000-square-foot facility is located at 26763 San Bernardino Ave. This will be the fulfillment services provider’s ninth U.S. facility. Innotrac plans to open a tenth location in Chicago this summer. The company’s clients have included Target, Groupon, P90X, AT&T, Rainbow, Ann Taylor, Ferrari and Porsche.
SALT LAKE CITY — Industrial Income Trust (IIT) has acquired Westport Distribution III, a 415,000-square-foot industrial bulk distribution facility in Salt Lake City, for an undisclosed sum. The facility will be located at 6050 West 700 South. IIT acquired Westport Distribution I & II in February 2013 for $47.5 million. The buildings total more than 750,000 square feet. The trust was represented by Zach Anderson and Bryce Blanchard of Newmark Grubb ACRES in this latest transaction. Mike Falk and Steve Condie of the same firm represented the seller, Buzz Oates Real Estate.
FULLERTON, CALIF. — Crossroads Shopping Center, a 220,000-square-foot, grocery-anchored retail center in Fullerton, has received a $26-million loan. The center is located at 3200-3362 East Yorba Linda Blvd. It is anchored by Ralph’s and Kohl’s. Other notable tenants include Starbucks and Union Bank. The 10-year mortgage features a fixed rate of 4.73 percent and interest-only payments for the full term. It was arranged by Seth K. Grossman and Sarah Kuebler of Meridian Capital Group’s Carlsbad office. Financing was provided by a CMBS lender.
LOS ANGELES – Atlas LA 4th St. LLC has purchased a former Coca-Cola production facility in Los Angeles for $19 million. The 123,600-square-foot facility is located at 963 East 4th Street in the city’s Arts District. It was originally constructed in 1915. The new owner plans to convert the building into creative office and retail space. It served as the West Coast headquarters for Coca-Cola until 1923. It was used as a production facility after that. The building’s last occupant was T.T. Toys. The LLC was represented by Mollie Dietsch and Matthew Artukovich of Lee & Associates Central Los Angeles’ Commerce office. CBRE represented the seller, Harmony Investments, in this transaction.