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.
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.
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.
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.
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.
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.
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.
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.
PITTSBURGH — Seattle-based Avatar Financial Group has provided an $8.4 million bridge loan for the DoubleTree by Hilton Pittsburgh-Green Tree hotel on the city’s southwest side. The property consists of three buildings with a total of 460 rooms. Amenities include three food-and-beverage options, indoor and outdoor pools, a fitness center and 40,000 square feet of meeting and event space. The sponsor, a joint venture between New York City-based investment firms First Choice Investments and The Chetrit Group, acquired the asset in 2021. The financing carries a 24-month term and loan-to-value ratio of approximately 26.5 percent, and the proceeds will be used to complete renovations and pay off existing debt.
LONDONDERRY, N.H. — Newmark has negotiated the $39.7 million sale-leaseback of a 224,780-square-foot industrial facility in Londonderry, located outside of Manchester near the New Hampshire-Massachusetts border. The facility was constructed on 17 acres in 2018 for digital printing company EFI and includes both manufacturing and research and development space. Richard Ruggiero and Brian Pinch of Newmark represented EFI in the transaction. The duo also procured the buyer, regional investment firm R.J. Kelly. Robert Griffin, Edward Maher, Matthew Pullen, James Tribble, Samantha Hallowell and William Sleeper of Newmark provided additional support on the transaction.