MILWAUKEE — The Dickman Company Inc./CORFAC International has brokered the sale of a 5,000-square-foot industrial building in Milwaukee for an undisclosed price. Adams Recycling LLC purchased the facility, located at 2725-2731 S. 29th St., from The Lynne M. Borts Revocable Trust. TJ Huenerbein of The Dickman Company brokered the transaction.
FRISCO, TEXAS — Hall Group is set to begin construction on a Class A office building at 3201 Dallas Parkway in Hall Park. The 12-story, 300,000-square-foot project will be the 17th building in Hall Park, a 162-acre, 2.2 million-square-foot development in Frisco. The groundbreaking ceremony is planned for late September. The new building will contain 25,000-square-foot floor plates and is designed to achieve LEED Silver certification. The two-story lobby will include works of art and sculpture from the Hall Collection, and all floors will feature 10-foot ceilings. Outdoor spaces will incorporate landscaping, a water feature and an adjacent event lawn. The building will be the tallest to date at Hall Park and will overlook Dallas North Tollway. Hall Group opened the first speculative building at Hall Park in 1998. The park is 96 percent leased with 16 completed buildings and a roster of 184 tenant companies and 8,000 employees.
CORPUS CHRISTI, TEXAS — On behalf of Cottonwood Residential, JLL’s capital markets team has completed the sale of San Marin Apartments in Corpus Christi. Castle Lanterra Properties purchased the 220-unit, Class A multifamily property. Scott LaMontagne, Moses Siller and Zar Haro led the JLL team in the deal. The buyer intends to add interior upgrades to make the asset more competitive with newly constructed apartment communities. San Marin is a 192,004-square-foot, garden-style apartment community consisting of 10 three-story residential buildings across 9.5 acres with garages and carports. The complex features an on-site fitness center, sand volleyball court, dog park and a swimming pool.
HOUSTON — Marcus & Millichap has negotiated the sale of Kingwood Storage, a self-storage facility located in the Kingwood area of Houston. The 254-unit asset was built in 1985. Dave Knobler and Justin Miller of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, a private investor. Knobler and Miller also secured the buyer, a limited liability company from California. Kingwood Storage is located at 1964 Northpark Drive.
CARROLLTON, TEXAS — Lee & Associates has brokered the sale of a 58,989-square-foot industrial building located at 1501 Luna Road in Carrollton. Nathan Denton and Corbin Blount Lee & Associates’ Dallas/Fort Worth office represented the seller, Nu Vista Series 1D LLC. Ryan Boozer of Stream Realty Partners LP represented the buyer, H&A Brothers LP.
EL PASO, TEXAS — The Vitorino Group has arranged the sale of a net leased Walgreens store located in northeast El Paso. The single-tenant asset is located on Dyer Street just north of Fort Bliss military base. Adam Gottschalk of the Vitorino Group represented the seller, a Minnesota-based limited liability company. The Vitorino Group cooperated with an outside broker from Tucson, Ariz., that represented the buyer, a private investor utilizing a 1031 tax-deferred exchange.
COLUMBIA, S.C. — NAI Avant has brokered the $22.5 million sale of a portfolio of nine Doctors Care facilities throughout South Carolina and Tennessee. Doctors Care, a wholly owned subsidiary of Blue Cross Blue Shield of South Carolina, operates more than 50 urgent and family care facilities with nearly 200 providers focused on providing urgent care, family care, occupational medicine and employee wellness services. Dail Longaker of NAI Avant represented the sellers, Medical Investment Holdings LLC and Port Royal Medical Investments LLC, in the transaction.
BRIDGEWATER, N.J. — Marcus & Millichap has brokered the sale of a retail property located at 728 Thompson Ave. in Bridgewater. A limited liability company acquired the 10,500-square-foot property for just under $2 million. The buyer plans to convert the property, formerly known as The Office Bar & Grill, into a high-end bar and grill. The restaurant is expected to open this fall after a complete remodeling of the building. Manveer Sanghera and Trevor Fiebel of Marcus & Millichap represented the buyer in the deal.
BERLIN, CONN. — O,R&L Commercial has arranged the lease of industrial space at 128 Old Brickyard Road in Berlin. All Mail Direct, a fulfillment and direct marketing firm, will occupy 54,000 square feet of the 127,000-square-foot industrial building, which is situated on 45 acres. Luke Massirio and Stephen Foote of O,R&L Commercial represented the landlord, Lakewood Associates, while Scott Rishar of North Atlantic Realty represented the tenant in the deal.
IRVING, TEXAS — Cushman & Wakefield represented Verizon Communications in a sale-leaseback transaction valued at $344 million for the 1.2 million-square-foot Verizon Hidden Ridge campus in Irving. The sale was made possible through a transfer of the property to Mesirow Financial, along with a lease agreement for a new 20-year term, which provided Verizon with $20 million worth of tenant improvement costs. Verizon subdivided the land with a portion being retained by the company for possible future development. Cushman & Wakefield acted as financial advisor and agent for Verizon in the transaction. Mesirow Realty Sale-Leaseback Inc., a division of Mesirow Financial, acquired the campus, which houses 2,800 full-time employees and contractors and is expected to increase to 3,500 by the end of the year. Verizon will continue to occupy the regional headquarters facility. The campus serves as the south-central market headquarters for Verizon. The Cushman & Wakefield investment banking team included Jim Jordan, David Wenk, Robert Elms, Mark Todrys, Maureen Kelly, Anthony Pasqual and Ben Lushing.