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Airfield-130-Austin
DevelopmentIndustrialTexas

Patrinely, Realterm Break Ground on 439,000 SF Spec Industrial Project in South Austin

by Taylor Williams

AUSTIN, TEXAS — A partnership between two development and investment firms, Houston-based Patrinely and Annapolis-based Realterm, has broken ground on Airfield 130, a 439,000-square-foot speculative industrial project in Austin. The development will consist of four buildings ranging in size from 75,000 to 150,000 square feet on a 34.5-acre site on the city’s south side. Each building at Airfield 130 will feature 32-foot clear heights and 190-foot truck court depths, and the project will have a total of 129 dock-high doors. Catamount Constructors is the general contractor for the project, which is slated for an early 2025 delivery. KBC Advisors has been appointed as the leasing agent.

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AcquisitionsOfficeTexas

DZMI Acquires 216,889 SF Office Building in North Houston

by Taylor Williams

HOUSTON — Locally based investment firm David Z. Mafrige Interests (DZMI) has acquired World Houston Place, an eight-story office building located at 15710 John F. Kennedy Blvd. on the city’s north side. According to LoopNet Inc., World Houston Place was built in 1985 and totals 216,889 square feet. The seller was not disclosed. The new ownership, which has appointed Stream Realty Partners as the leasing agent, plans to implement a value-add program that includes upgrades of common areas and the addition of a fitness center and tenant lounge.

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HealthcareLeasing ActivityTexas

Houston Methodist Signs 75,800 SF Lease at Texas Medical Center in Houston

by Taylor Williams

HOUSTON — Houston Methodist has signed a 75,800-square-foot lease at Texas Medical Center in Houston. The provider will occupy two floors at the Dynamic One building at TMC Helix Park for various biomedical research initiatives. The building was completed last fall and offers a fitness center, outdoor terrace and a multi-purpose lounge. Scott Carter of CBRE represented Houston Methodist in the lease negotiations. Eric Johnson, Lisa Bovermann and Kaitlyn Harp of Transwestern represented the landlord, Beacon Capital Partners, which developed the building in partnership with Zoë Life Sciences.

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AcquisitionsHealthcareTexas

MedProperties Buys 44,150 SF Medical Office Building in Metro Houston

by Taylor Williams

PEARLAND, TEXAS — Dallas-based healthcare investment firm MedProperties Realty Advisors has purchased a 44,150-square-foot medical office building that is part of the Memorial Hermann Pearland Hospital on the southern outskirts of Houston. The two-story building was completed in 2023 and was fully occupied at the time of sale. Capital One and Siemens Financial Services provided acquisition financing for the deal. The seller was not disclosed.

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AcquisitionsIndustrialTexas

Partners Real Estate Brokers Sale of 10,125 SF Industrial Building in Pharr, Texas

by Taylor Williams

PHARR, TEXAS — Partners Real Estate has brokered the sale of a 10,125-square-foot industrial building in the Rio Grande Valley city of Pharr. The property at 3329 S. Jackson Road was built in 1973, according to LoopNet Inc. Gustavo Torres and Carlos Marquez of Partners represented the seller, Texas-based construction firm Alamo Systems Industries, in the transaction. The buyer and sales price were not disclosed.

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DevelopmentIndustrialKansasMidwest

Contegra Construction Completes 1 MSF Distribution Center in Edgerton, Kansas

by Kristin Harlow

EDGERTON, KAN. — Contegra Construction Co. has completed its second large distribution center on behalf of NorthPoint Development at the 3,000-acre Logistics Park Kansas City (LPKC) in Edgerton. Named Inland Port 9, the 1 million-square-foot facility features a clear height of 40 feet, 100 dock doors, four drive-through doors, 479 car parking spaces and 352 trailer parking spaces. Contegra previously built an 850,000-square-foot distribution center at LPKC. The industrial park currently boasts more than 14.4 million square feet with the capacity for 30 million square feet. LPKC is anchored by BNSF Railway’s intermodal facility.

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IllinoisIndustrialLeasing ActivityMidwestNAI

NAI Hiffman Negotiates 330,694 SF Industrial Lease for NORKOL in Montgomery, Illinois

by Kristin Harlow

MONTGOMERY, ILL. — NAI Hiffman has negotiated a 330,694-square-foot industrial lease on behalf of NORKOL Converting Corp. at CenterPoint 88 Industrial Center in Montgomery, a western suburb of Chicago. NORKOL, a family-owned paper and packaging provider, signed a long-term lease agreement and will relocate from its Northlake headquarters this spring. Originally built in 1960 and renovated in 2000, the property is served by the BNSF Railway and is located less than five miles from I-88. NORKOL plans to make significant upgrades to the facility, including improvements to the truck courts, sprinkler system, power capacity and lighting. Dan Leahy of NAI Hiffman represented the tenant and provided site selection services. Rick Daly and George Cibula of DarwinPW Realty/CORFAC International represented the landlord, CenterPoint Properties.

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AcquisitionsIllinoisIndustrialMidwest

Cresa, Glenwood Arrange Sale of 163,309 SF Kuriyama of America Headquarters Building in Suburban Chicago

by Kristin Harlow

SCHAUMBURG, ILL. — Cresa has arranged the sale of a 163,309-square-foot industrial building in Schaumburg that serves as the headquarters of Kuriyama of America Inc., a manufacturer of thermoplastic hose and accessories. The sales price was undisclosed. The property sits on 11.5 acres at 360 E. State Parkway. The building features a clear height of 34 feet, 15 exterior docks, parking for 134 cars and 32,000 square feet of office space. Ed Lowenbaum of Cresa and Jason Talanian of Glenwood Real Estate represented Kuriyama in the sale. Tom Gath and Kevin Murphy of Newmark represented the buyer, DN Solutions, a machine tool company that will use the facility for its corporate headquarters and showroom.

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AcquisitionsMichiganMidwestRetail

Marcus & Millichap Brokers $5.4M Sale of Retail Center in Belleville, Michigan

by Kristin Harlow

BELLEVILLE, MICH. — Marcus & Millichap has brokered the $5.4 million sale of Van Buren Plaza in Belleville, a southwest suburb of Detroit. The 43,765-square-foot retail center is located at 11824 Belleville Road and was 94 percent occupied at the time of sale by a mix of local, regional and national tenants. Alex Perez and Chris Garavaglia of Marcus & Millichap represented the buyer, a limited liability company. Seller information was not provided.

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Leasing ActivityMidwestMissouriRestaurantRetail

Banksia to Open 5,300 SF Restaurant at 1111 Main Office Building in Downtown Kansas City

by Kristin Harlow

KANSAS CITY, MO. — Banksia is opening a 5,300-square-foot restaurant at 1111 Main, the largest office building in Kansas City, according to owner Copaken Brooks. The Australian-inspired café and bistro is relocating from its existing downtown location at 105 W. 9th St. The new restaurant is slated to open this spring. Copaken Brooks is performing the owner’s representative services for Banksia’s build-out. Banksia will offer patio seating, a full bar, coffee, breakfast, lunch and dinner service as well as private event spaces. Tiffany Ruzicka of AREA Real Estate Advisors represented the tenant, while Erin Johnston of Copaken Brooks represented ownership.

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