MOUNT PLEASANT, S.C. — BWE has arranged a $40.3 million loan for the construction of Carolina Business Park, an industrial development in Mount Pleasant, roughly five miles outside downtown Charleston. Cameron Property Co. is the borrower and developer. Thomas Wiedeman and Alan Tapie of BWE secured the financing through a life insurance company on behalf of the borrower. Upon completion, the property will total 483,300 square feet across three buildings. The rear-load buildings, situated on 60 acres, will feature clear heights between 32 and 36 feet.
ROCKINGHAM, N.C. — IPA, a division of Marcus & Millichap, has brokered the $12.7 million sale of Richmond Plaza, a 202,504-square-foot retail center in Rockingham. Ross Dress for Less, Planet Fitness, Belk and Burkes Outlet anchor the property, which is located about 70 miles east of Charlotte. Other tenants include Dunkin’ and Hibbett Sports. Zach Taylor of IPA arranged the transaction on behalf of the seller, CF Smith Property Group, and secured the buyer, Florida-based Coastal Equities. “This sale marks the culmination of a very successful repositioning by the sellers, who replaced JC Penney, Save-A-Lot and a movie theater with Burkes Outlet, Ross Dress for Less and Planet Fitness, respectively,” says Taylor.
ROBINSON, TEXAS — Walmart (NYSE: WMT) will open a dairy processing plant in Robinson, located just south of Waco in Central Texas, in a move that represents a capital investment of about $380 million in the regional economy. The Arkansas-based retailer also expects that the project, which will comprise 310,000 square feet of production and distribution space within Robinson Business Park, will result in the creation of about 400 jobs. Cushman & Wakefield represented Walmart in its site selection and purchase of the 79-acre tract on which the facility will be developed. The opening is scheduled for 2026.
FORT WORTH, TEXAS — CBRE has negotiated a 221,444-square-foot industrial lease near Dallas-Fort Worth International Airport. The tenant, Big Ass Fans, will occupy the entirely of Building A at Fort West Commerce Center, a three-building, 531,601-square-foot development that sits on a 30-acre site. Buildings are designed to accommodate users with requirements from 34,041 to 221,444 square feet and feature 32- to 36-foot clear heights. Gordon Benedict, Courtney Oldenburg and Tim Vogds of CBRE represented the tenant in the lease negotiations. Matt Carthey and George Jennings of Holt Lunsford Commercial represented the landlord, Phoenix-based Creation.
FORT WORTH, TEXAS — Texas-based investment firm Stonelake Capital Partners has purchased a 119,995-square-foot distribution facility in Fort Worth. The building at 4400 Diplomacy Drive, which was fully leased at the time of sale to Litex Industries, is located just south of DFW International Airport in the central part of the metroplex. Jim Carpenter, Jud Clements, Robby Rieke and Madeleine Supplee of Cushman & Wakefield represented the undisclosed seller in the transaction. Coleman Brown, Michael Massad, Will Thomas and Keontae Burns represented Stonelake on an internal basis.
HOUSTON — Locally based brokerage firm Finial Group has arranged the sale of a 19,259-square-foot industrial building in northwest Houston. The building at 6606 Gessner Road sits on 1.5 acres and includes outdoor storage space. Jason Gibbons and Christian Villarreal of Final Group represented the seller in the transaction. Christy Bowen of Fox & Graham Real Estate represented the buyer. Both parties requested anonymity.
HOUSTON — Accounting firm Abbott & Associates has signed a 4,848-square-foot office lease renewal in southeast Houston. According to LoopNet Inc., the building at 12600 N. Featherwood Drive was built in 1987 and totals 75,166 square feet. Ryan Hartsell of locally based brokerage firm Oxford Partners represented Abbott & Associates in the lease negotiations. Ryan Clark of The Mission Cos. represented the landlord.
MICHIGAN — District Capital has arranged a $10.6 million loan for the acquisition of a 205,000-square-foot industrial property in Michigan. Dave Dismondy of District Capital arranged the nonrecourse loan, which features a 60 percent loan-to-value ratio and an 80 percent loan-to-cost ratio. A life insurance company provided the loan. The borrower was undisclosed.
WEST DES MOINES, IOWA — CBRE has opened a new 8,000-square-foot office on the second floor of 595 Tower, which is located at 595 S. 60th St. in West Des Moines. The firm has relocated from the Hubbell Realty Co. building at 6900 Westown Parkway. The new office is part of CBRE’s Workplace360 program, showcasing the company’s “Future of Work” space standards, including innovative technology and a wider variety of collaborative spaces designed to support hybrid working. CBRE launched its Workplace360 program in 2013 and has since opened more than 100 of these offices worldwide. A cornerstone of the model is the “free address” approach where there is no assigned seating. The Des Moines office is equipped with technology for chat and video applications, a large media display for company announcements and a RISE café. There are several pieces of artwork from local artists, Tom Gross and Candice Luten. The conference room names are based on the three local counties where CBRE is most active — Dallas, Jasper and Polk.
HAMMOND, IND. — Marcus & Millichap has brokered the sale of the Fairfield Inn & Suites Southeast | Chicago for an undisclosed price. The 94-room hotel is located at 7720 Corinne Drive in Hammond, a city in Northwest Indiana. The four-story property features an indoor breakfast area, fitness center, meeting space, laundry facility, dry cleaning service and convenience store. The hotel will undergo a full renovation in the coming year. Ebrahim Valliani and Michael Klar of Marcus & Millichap represented the buyer and seller, both of which were private investors. Marcus & Millichap’s Chris Gomes and Allan Miller were listed on the deal as supporting brokers, and Josh Caruana, the firm’s broker of record in Indiana, assisted in closing the transaction.