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AcquisitionsFloridaRetailSoutheast

ASG Equities Sells Retail Property in Miami’s Design District for $14M

by John Nelson

MIAMI — New York City-based ASG Equities has sold a 4,500-square-foot retail building located at 70-74 N.E. 40th St. in Miami’s Design District. Dacra acquired the property, which was fully leased to luxury brands Ksubi and Orlean at the time of sale, for $14 million. The transaction marks the final step for ASG’s three-property portfolio that it has sold in recent months, the others being buildings at 80 and 101 N.E. 40th St. The company is actively developing a 500,000-square-foot mixed-use development nearby called Parterre 42 with co-developer Helm Equities.

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DevelopmentIndustrialTexas

March Capital Management to Develop 900,000 SF Industrial Project in Creedmoor, Texas

by Taylor Williams

CREEDMOOR, TEXAS — San Francisco-based development and investment firm March Capital Management will develop 45 Logistics South, a five-building, 900,000-square-foot industrial project in Creedmoor, about 20 miles south of Austin. The site is located adjacent to I-45 and just east of I-35. Construction of the first phase of the project, which will consist of two buildings totaling approximately 400,000 square feet, is set to commence in the coming days. Deutsche Bank is financing the development.

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AcquisitionsMidwestRetailWisconsin

Legacy Realty Group Arranges $27.6M Sale of Plaza 50 Shopping Center in Kenosha, Wisconsin

by Kristin Harlow

KENOSHA, WIS. — Legacy Realty Group Advisors LLC has arranged the $27.6 million sale of Plaza 50, a 199,217-square-foot shopping center in Kenosha. The property is home to tenants such as Burlington, Marshalls, Ross Dress for Less and Pick ‘n Save. Jacob Baruch, Daniel Baruch and Jonah Warshaw of Legacy represented the buyer and seller, neither of which were disclosed.

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IllinoisLoansMidwestMultifamilySeniors Housing

Cambridge Provides $15.5M HUD-Insured Loan for Refinancing of Assisted Living Facility in Suburban Chicago

by Kristin Harlow

ALGONQUIN, ILL. — Cambridge Realty Capital Cos. has provided a $15.5 million HUD Lean loan for the refinancing of The Pointe at Eastgate in Algonquin. The assisted living facility is designed for residents age 65 and older who are transitioning from independent living to a more supportive environment. The property offers private apartments and a variety of services, including weekly housekeeping, optional laundry service, medication set-up and reminders, assistance as needed with personal care, grooming and bathing, plus transportation to medical appointments and group outings. Brent Holman-Gomez of Cambridge originated the 35-year loan on behalf of the borrower, an Illinois-based limited liability company.

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AcquisitionsIndianaIndustrialMidwestMissouriSelf-Storage

StorageMart Acquires Properties in Indiana, Missouri Totaling 550 Units

by Kristin Harlow

GREENWOOD, IND. AND COLUMBIA, MO. — StorageMart has acquired two facilities in Indiana and Missouri totaling 550 units. The Columbia, Mo., property is located at 1500 Creekwood Parkway and includes 312 units across 42,200 square feet. The Greenwood, Ind., facility is located at 994 S. State Road 135 and comprises 238 units across 37,475 square feet. The properties will undergo enhancements to align with StorageMart standards.

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AcquisitionsIllinoisIndustrialMidwest

Entre Commercial Realty Brokers Sale of 112,290 SF Industrial Building in Mount Prospect, Illinois

by Kristin Harlow

MOUNT PROSPECT, ILL. — Entre Commercial Realty has brokered the sale of a 112,290-square-foot industrial building in the Chicago suburb of Mount Pleasant for an undisclosed price. The property, which features a clear height of 24 feet, is located at 1450 Feehanville Drive within the Kensington Business Center. Dan Jones and Sam Deihs of Entre represented the buyer, a joint venture between Nicholas & Associates and Parenti & Raffaelli. The buyers intend to occupy a portion of the facility and lease the remainder. Nicholas & Associates is a full-service construction management and development company specializing in public projects, private sector work and multifamily developments in Illinois, Wisconsin and Florida. Parenti & Raffaelli is a custom woodworking company specializing in custom finished millwork. Planned renovations for the property include a new entrance façade, office area, truck docks, landscaping, lighting and parking improvements. Mike Sedjo and Jack Brennan of CBRE represented the undisclosed seller.  

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DevelopmentIndustrialOfficeTexas

Alterman Debuts 190,000 SF Headquarters Campus in Live Oak, Texas

by Taylor Williams

LIVE OAK, TEXAS — Texas-based electrical contractor Alterman has debuted its new 190,000 square-foot first headquarters campus in the northeastern San Antonio suburb of Live Oak. The 20-acre site is located at intersection of Loop 1604 and I-35, and the campus consists of a 100,000-square-foot logistics and manufacturing building and a 90,000-square-foot office building. Studio8 Architects designed the campus, and Whiting-Turner Construction served as the general contractor. Construction began in fall 2022.

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DevelopmentIllinoisMidwestOffice

Principle Construction Completes Renovations for Veolia Water Technologies Facility in Plainfield, Illinois

by Kristin Harlow

PLAINFIELD, ILL. — Principle Construction has completed several facility renovations for Veolia Water Technologies HPD Plainfield Offices. Veolia, which is a water and wastewater treatment company, maintains its 42,000-square-foot office at 23561 W. Main St. Principle originally designed and built the property in 2001 for Avgeris and Associates, which leased the building to Veolia. Principle completed interior and exterior renovations to both the headquarters office building and the research and development building. Archideas Inc. was the architect.

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Meadow-Park-Tower
DevelopmentOfficeTexas

Bradford Completes $6.5M Renovation of Meadow Park Tower in North Dallas

by Taylor Williams

DALLAS — An affiliate of locally based firm Bradford Commercial Real Estate Services has completed the $6.5 million renovation of Meadow Park Tower, a 262,799-square-foot office building in North Dallas. The project delivered new HVAC systems and electrical infrastructure, as well as upgrades to amenity spaces, which include an outdoor tenant lounge with a putting green, conference center and a fitness center. Common areas like elevators and restrooms were also enhanced.

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Affordable HousingDevelopmentMultifamilyTexas

Partnership Breaks Ground on 56-Unit Affordable Housing Project in San Antonio

by Taylor Williams

SAN ANTONIO — A partnership between OCI Development, an affiliate of Atlantic Pacific Cos. and Opportunity Home San Antonio has broken ground on Vista at Reed, a 56-unit affordable housing project on the city’s west side. Vista at Reed will feature two- and three-bedroom units. Rental prices will range from $398 to $1,380, and 55 units will be set aside for residents earning up to 60 percent of the area median income. Residents will have access to various social services including financial literacy and health awareness classes. PNC Bank provided construction financing for the project, completion of which is slated for early 2025.

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