OMAHA, NEB. — The Lerner Company has unveiled plans for Burlington Coat Factory to open its second store in Omaha at Eagle Run Shopping Center, located at 4004 N. 132nd St. The new store will occupy a portion of the former Kmart, which closed in December 2014. The new 40,408-square-foot store will open in spring 2017. The opening will bring approximately 50 to 100 new jobs to the Omaha community. Eagle Run Shopping Center is one of The Lerner Company’s joint venture entities.
IRVING, TEXAS — ML Realty Partners has acquired a six-building, 303,687-square-foot industrial portfolio within Union Bower Business Park in Irving. Ranging in size from 30,970 to 64,672 square feet, the buildings are located near Loop 12, Highway 183 and I-35 providing access to Dallas/Fort Worth International Airport and the Dallas central business district. The portfolio includes: 200 Union Bower Court – 59,330 square feet 300 Union Bower Court – 54,000 square feet 400 Union Bower Court – 58,540 square feet 1001 N. Union Bower Road – 64,672 square feet 1101 N. Union Bower Road – 36,175 square feet 1125 N. Union Bower Road – 30,970 square feet
DALLAS — SVN has arranged the sale of a four-story office building located at 8344 R.L. Thornton Freeway in Dallas. SVN’s Steve Fithian and Robin Francis-Baker represented both the buyer, 4D Circle LLC, and the seller, Ozinus Thornton LLC, in the transaction. The 50,075-square-foot property was built in 1984 and stands on 2.2 acres. The Class B property is more than 90 percent leased to tenants including Resource One, Lira Bravo Law, GAO Construction Services, Farmers Insurance, Reliable Life Insurance, Tillery & Associates, World Impact Dallas, Elim Health, Texas AFT, Staff Force and Dr. Pedro Zevallos.
BAYTOWN, TEXAS — NAI Partners has negotiated the sale of 200 acres in Baytown. TGS Cedar Port Partners sold the land to Ravago Americas, a distributor of plastic and rubber materials. The transaction represents the second major development in Phase II of TGS Cedar Port Industrial Park, a 750-acre tract with access to Highway 1405 and Highway 99. Phase I of TGS Cedar Port’s is fully contracted for development and Phase II is ready for development. The industrial park is located in Chambers County near Baytown, and includes 15,000 acres with heavy utilities and industrial and commercial transportation infrastructure. The park is barge and rail served by the Union Pacific and the BNSF Railroads. John Ferruzzo, John Simons and Joel Michael of NAI Partners represented the seller, TGS Cedar Port Partners, during negotiations. Gray Gilbert of CBRE represented Ravago Americas.
TULSA, OKLA. — Marcus & Millichap has negotiated the sale of 38th Street Mini Storage, a 37,350-square-foot self-storage facility located in Tulsa. Trey Hammond and Michael Mele of Marcus & Millichap’s Tulsa office marketed the property on behalf of the seller, a limited liability company. Hammond and Mele also secured and represented the buyer, a private investor. 38th Street Mini Storage is located at 7711 E. 38th St. with visibility from Highways 64 and 51. The facility consists of 354 non-climate controlled units ranging from 50 to 400 square feet. The facility, initially constructed in 1960 with a solid concrete slab and metal framing, is secured by electronic gate access and recorded video surveillance.
ELIZABETH, N.J. — Colliers International has facilitated an industrial lease for Article in Elizabeth. The e-commerce furniture company will occupy 143,000 square feet of industrial space at 201 Bay Ave. Vancouver, Canada-based Article provides modern designer furniture direct to consumers at affordable prices. Mike Markey, Jon Tresser and Andrew Lord of Colliers represented the tenant, while Ernie Christoph and Charlie Reese served as in-house representation for the landlord, Hartz Mountain Industries, in the deal.
ORLANDO, FLA. — Cushman & Wakefield has brokered the $47.9 million sale of LeeVista Business Center, a 479,100-square-foot, three-building warehouse and distribution park adjacent to Orlando International Airport. Mike Davis, Michael Lerner and Rick Brugge of Cushman & Wakefield represented the seller, Atlanta-based McDonald Development Co., in the transaction. Los Angeles-based Colony Capital purchased LeeVista Business Center, which was developed between 2009 and 2016 and was 84.4 percent leased at the time of sale to tenants such as Thales USA, ThyssenKrupp Industrial Services, Siemens Corp., Carrier and DHL Global Mail. The $100 per square foot price tag makes the transaction the record high per-square-foot sale of a multi-tenant warehouse and distribution project in Orlando.
MONROVIA, CALIF. — Calmwater Capital has provided $19.8 million in financing to 723 EHD LLC for the acquisition and lease-up of Shamrock Center, a retail center located at 723-727 E. Huntington Drive in Monrovia. The financing consists of a $9 million senior term loan for the acquisition of the property and $10.8 million in additional potential funding for future leasing and tenant improvements. At the time of sale, the 98,000-square-foot property was 90 percent vacant due, in part, to the loss of its anchor tenant, a 70,000-square-foot Albertson’s that closed as a result of a consolidation strategy.
EL PASO, TEXAS — The Meyers Group has acquired the historic Camino Real Hotel in El Paso. The 356-room property is located at 101 S. El Paso St. in the city’s downtown district. The Meyers Group plans to completely renovate the property, which was named to the National Register of Historic Places in 1979. After the completion of the 18-month renovation project, the hotel will reopen under its historic name, Hotel Paso del Norte. The historic 10th-floor ballroom and terrace, currently being used for mechanical purposes, will be restored and will feature a full-service spa, gym, pool and pool deck.
EDMOND, OKLA. — CBRE has brokered the sale of Tealridge Assisted Living and Memory Care, a 52,283-square-foot seniors housing facility in Edmond. MOC Assisted Living sold the property for $6.8 million to a nonprofit private investor that is looking to establish a presence in the Oklahoma market. Tealridge Assisted Living and Memory Care is located at 2200 N.W. 140th St. at the intersection of East Memorial Road and North Eastern Avenue. The facility was constructed in 2010 and includes 65 units. Daniel Morris of CBRE’s Oklahoma City office represented the buyer in the transaction.