STERLING HEIGHTS, MICH. — Colliers International has arranged a 13,795-square-foot industrial lease at 6699 Metropolitan Parkway in Sterling Heights. Peter E. Kepic, Peter J. Kepic and Ryan Brittain of Colliers International represented both the tenant, CleanTech Environmental Inc., and the landlord, American & Import Auto Parts Inc. in the transaction.
Property Type
CHICAGO — Retrofit Chicago’s Commercial Buildings Initiative has accepted Michigan Plaza, located at 205 | 225 N. Michigan in Chicago into its program. The City of Chicago initiated the program in 2012 to promote and assist properties that were identified as candidates to lower energy consumption during a five-year period by 20 percent. As part of the Retrofit Chicago program, the City of Chicago is offering incentives to participating properties, including additional access to resources, permit prioritization and the recognition of achievements through promotional marketing. The city expects to reduce energy use by 20 percent in 24 million square feet within the next five years. This is the second property managed by MB Real Estate to be accepted into the Retrofit Chicago program. In 2012, the firm announced the participation of 333 N. Michigan as well. The Retrofit Chicago program is outlined by the federal government’s strategy to reduce energy costs in buildings.
WATERTOWN, MASS. — Wood Partners is constructing Alta at the Estate, a $40 million, 155-unit upscale apartment community on 11.6 acres in Watertown, a western suburb of Boston. The first units of the community are slated for delivery by late March. Designed by The Architectural Team, Alta at the Estate includes two four-story residential buildings and one two-story townhouse building. The clubhouse features a leasing office, clubroom, cyber-café and fitness center, along with private outdoor space that includes a pool, built-in grills and patio areas. The community features 81 one-bedroom units, 73 two-bedroom units and one three-bedroom unit as well as 256 parking spaces. All apartments will include vinyl plank flooring, granite countertops, stainless steel appliances and tile floors in the bathrooms.
AVENEL, N.J. — Cushman & Wakefield’s metropolitan area capital markets group has arranged the $29 million sale of five industrial buildings in Avenel, located about 13 miles south of Newark. TA Associates purchased the portfolio, which includes 329,000 square feet. The portfolio is located less than two miles off Exit 12 of the Turnpike, 20 minutes from the port and Newark Liberty International Airport and 25 miles from Midtown Manhattan. David Bernhaut, Andrew Merin, Gary Gabriel and Kyle Schmidt of Cushman & Wakefield arranged the sale.
WOODCLIFF LAKE, N.J. — Colliers International has arranged two separate long-term leases totaling more than 25,000 square feet at 123 Tice Blvd. in Woodcliff Lake. The leases bring occupancy from 70 percent to approximately 90 percent. In the first transaction, science and engineering company Anchor QEA will relocate from Montvale and occupy 12,988 square feet at the property. In the second transaction, SeaCube Container Leasing will relocate from Park Ridge, taking 12,420 square feet. Both tenants will occupy their new offices this summer. Jason Fray of Cushman & Wakefield represented Anchor QEA in the transaction. Harlan Hollander, also of Cushman & Wakefield, represented SeaCube Container Leasing in the transaction.
SUSSEX CO., DEL. — Two new retail businesses, Creative Floors and Wings-to-Go, have opened in Sussex County, located in southern Delaware. Creative Floors, a national flooring provider franchise, leased 1,886 square feet at the Vineyards at Nassau County on Old Vine Blvd. in Lewes. The new store is the second to open in Delaware with the other located in Newark. Wings-to-Go, a national buffalo chicken wings franchise, leased 1,560 square feet in Bayshore Plaza, a new shopping center anchored by Giant Foods in Millsboro. The store is the 10th to open in Delaware. Ann Bailey of NAI Emory Hill’s Lewes office represented the landlords in both transactions.
HOUSTON — Developer Gables Residential has completed Gables Tanglewood, a 316-unit multifamily property in Houston’s Galleria submarket. The eight-story, concrete-frame building offers one- to three-bedroom apartments, as well as an amenity package that includes a swimming pool, fitness center, movie theater and internet lounge. Ground-level retail space totaling 22,000 square feet features restaurant Dish Society. Atlanta-based Gables Residential is seeking NGBS Silver certification for the project. Houston-based architect Ziegler Cooper designed Gables Tanglewood.
MANSFIELD, TEXAS — Developer UDC Global will break ground in June on Rochester Springs Assisted Living and Memory Care, a seniors housing property in the Dallas/Fort Worth suburb of Mansfield. The $11.5 million facility, which will include 51 assisted living units and 44 memory care units, will occupy 73,073 square feet within the larger mixed-use campus located at the intersection of Matlock Road and East Broad Street. Dallas-based three: living architecture designed the project, which is slated for completion in June 2015.
DENTON, TEXAS — Transwestern has brokered the sale of Denton Town Center, a 77,592-square-foot shopping center in the suburb of Denton, about 40 miles north of Dallas. The property, which includes a pair of two-story buildings, is located across from the Golden Triangle Mall, in proximity to the interchange of I-35 and Loop 288. Long-term tenants include Cici’s Pizza, Vision Works, Sleep Experts, Carter Blood Care, Jason’s Deli and the U.S. Armed Forces. Larry Jordan, Frank Bullock and Steve Williamson of Transwestern represented the seller, a family trust. Dean Flowers and Pete Flowers of Dollar-Flowers Realty Partners represented the buyer, Greenway Investment Co.
MISSOURI CITY, TEXAS — Marcus & Millichap has brokered the sale of Colony Plaza Shopping Center, a 55,022-square-foot retail property in the Houston suburb of Missouri City, for $8.4 million. Located at 4811 Highway 6 South, the facility is in proximity to Dulles Avenue and I-69. Reconfigured in 2004 for three tenants, the building originally housed an Albertson’s grocery store but is now anchored by Star Cinema Movie Grille. Jerry Goldstein of Marcus & Millichap marketed the asset on behalf of the seller, a private investor.