more_sales_and_leases

Marcus & Millichap Brokers $18M Sale of Shopping Center in Miami

by John Nelson August 29, 2016

MIAMI — Marcus & Millichap has arranged the $18 million sale of West Sunset Square, a 67,974-square-foot shopping center located on the corner of Sunset Drive and S.W. 157th Avenue in Miami. The buyer, Sabina 40 Street LLC/West Sunset Square Members LLC, is an affiliate of IMC Equity Group. Built in 2009, West Sunset Square was fully leased at the time of sale to tenants such as Dollar Tree, Planet Fitness, Valsan and a Taco Bell outparcel set to open in September. Kirk Olson and Drew Kristol of Marcus & Millichap’s Miami office represented the seller, a Miami-based limited liability company, and procured the buyer. Sabadell United Bank provided a $12.6 million acquisition loan on behalf of IMC Equity Group.

August 29, 2016

Multifamily Texas

Interurban Corp. Purchases Apartment Community in Metro Houston

by Haisten Willis August 26, 2016

HUMBLE, TEXAS — Interurban Corp. has purchased Woodland Hills, a 282-unit, Class A apartment community in the northeast Houston suburb of Humble. Woodland Hills is located at 3918 Atascocita Road within a 15-minute drive of Generation Park, a deed-restricted, 4,000-acre master-planned development that will include the FMC Technologies’ headquarters campus and the 52-acre Redemption Square corporate lifestyle district. Completed in 2009, the property has had an average occupancy above 92 percent for the past two years. The gated, garden-style community has units averaging 880 square feet and amenities such as a swimming pool, fitness center, clubhouse, lounge and business center. HFF marketed the property on behalf of the seller, a joint venture between KKR and Crossbeam Concierge.

August 26, 2016

Retail Texas

M&M Arranges Sale of 6.8 Acres in San Antonio

by Haisten Willis August 26, 2016

SAN ANTONIO — Marcus & Millichap has arranged the sale of 6.8 acres of land in San Antonio. Jon Danklefs of Marcus & Millichap’s San Antonio office marketed the property on behalf of the seller, a partnership. The land is located at the southwest corner of Loop 410 and Medina Base Road. Nearby retailers in the area include Walmart Supercenter, Valero Corner Store, Walgreen’s, Jack in the Box, Burger King and HEB.

August 26, 2016

Industrial Texas

NAI Partners Negotiates 23,000 SF Industrial Lease in Houston

by Haisten Willis August 26, 2016

HOUSTON — NAI Partners has arranged the lease for a freestanding 23,000-square-foot manufacturing facility to Lion Millwork Co., a cabinet and carpentry business. The newly constructed property is located at 13735 FM 529 in Houston. John Ferruzzo and Nick Peterson of NAI Partners represented the landlord, Southbelt Park Ltd., during lease negotiations, while Michael Foreman and Beau Kaleel of Cushman & Wakefield represented Lion Millwork.

August 26, 2016

Massachusetts Multifamily Northeast

CBRE/NE Negotiates Sale of 195-Unit Apartment Community in Suburban Boston

by Amy Works August 26, 2016

MALDEN, MASS. — CBRE/New England has brokered the sale of 480 Main Street, an infill apartment community located in Malden. Residence at Malden Square, an affiliate of Priderock Capital Partners, sold the 195-unit property to The DSF Group for an undisclosed price. The five-story property features 30 studios, 115 one-bedroom apartments and 50 two-bedroom units with an average unit size of 768 square feet. Additionally, the building features four retail suites totaling 7,599 square feet. The apartments are 100 percent market rate and the retail space is partially leased to a bakery and drop-off dry cleaning service. Simon Butler and Biria St. John of CBRE/NE represented the seller and procured the buyer in the deal.

August 26, 2016

Industrial Northeast Pennsylvania

VYC Tires Leases 61,157 SF of Warehouse Space in Pennsylvania

by Amy Works August 26, 2016

ALLENTOWN, PA. — VYC Tires Inc., commonly known as bestusedtires.com, has leased 61,157 square feet of warehouse space at 7072 Snowdrift Road in Allentown. The Allentown-based, family-owned company provides quality used tires to customers across the continental United States. Ethan Medgie of Markward Group represented the tenant, while landlord DCT Industrial Trust was self-represented in the transaction.

August 26, 2016

Iowa Midwest Retail

Hobby Lobby to Open 55,000 SF Store in Ottumwa, Iowa

by Christina Cannon August 26, 2016

OTTUMWA, IOWA — Hobby Lobby has signed a lease for 55,000 square feet of retail space at Quincy Plaza, a 141,816-square-foot shopping center in Ottumwa. The retailer will occupy part of a former Kmart store beginning this fall. Other tenants at the shopping center include Famous Footwear, Rent-A-Center and Country Kitchen. Phillips Edison & Co. is the landlord.

August 26, 2016

Industrial Texas

Binswanger Negotiates Sale of 1.5 MSF Industrial Building in Corsicana

by Haisten Willis August 25, 2016

CORSICANA, TEXAS — Binswanger has negotiated the sale of an industrial building in Corsicana on behalf of Eliken Properties, an industrial real estate investment company that owns and manages properties throughout the Unites States. The 1,453,615-square-foot industrial building is located on 139 acres at 2200 S. Business 45. Two tenants, Pactiv and Guardian Glass, occupy the property, and Binswanger will be working with the new owner to market to additional tenants. Corsicana is located 60 miles from Dallas, 70 miles from Tyler and 190 miles from Houston. Holmes Davis of Binswanger’s Dallas office handled the acquisition.

August 25, 2016

Office Texas

Grander Capital Partners Purchases Emerald Plaza in Dallas

by Haisten Willis August 25, 2016

DALLAS — Grander Capital Partners LLC has purchased Emerald Plaza, a 74,182-square-foot office building located at 14900 Landmark Boulevard in Dallas. The purchase of the six-story office building is Grander Capital’s first in the Dallas-Fort Worth area. Grander Capital has retained Ward Eastman and Rodney Helm of Cushman & Wakefield to lease the property. Grander Capital’s investment in Emerald Plaza includes plans to modernize the building’s lobby, signage and landscaping. Located in the Quorum Market near the Dallas North Tollway, Emerald Plaza is 84 percent leased and includes amenities such as 100 percent underground parking and proximity to several restaurants and retail establishments.

August 25, 2016

Office Texas

Colvill Office Properties Secures 52,822 SF Office Lease in Houston

by Haisten Willis August 25, 2016

HOUSTON — Colvill Office Properties (COP) and Cushman & Wakefield have secured a 52,822-square-foot lease for Saudi Basic Industries Corp. (SABIC) at 2500 CityWest Boulevard, a 578,284-square-foot office building located in Houston’s Westchase District. SABIC recently expanded its presence at the Class A asset, taking two full floors totaling 46,063 square feet and another 6,759 square feet in the lobby. This brings SABIC’s capacity at the 25-story tower to 75,840 square feet. David Guion and Tim Relyea of Cushman & Wakefield represented SABIC in the lease transaction. Win Haggard of COP represented the property ownership, Crimson Real Estate Fund LP, a private equity fund sponsored by Patrinely Group and USAA Real Estate Co.

August 25, 2016

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