PORTLAND, TENN. — Equus Capital Partners Ltd. has acquired a four-building, 1.3 million-square-foot industrial portfolio in Portland, a city roughly 40 miles north of Nashville, for an undisclosed price. The acquisition was made on behalf of Equus Investment Partnership X LP, a $361 million discretionary equity fund managed by Equus. The portfolio includes three Class A assets located at 1115 and 1125 Vaughn Drive and 1042 Fred White Blvd., all constructed between 2002 and 2007. The properties feature 32-foot clear heights, ESFR sprinkler systems, ample loading, 125- to 175-foot truck courts and efficient column spacing. The two larger buildings include cross-dock configurations. In addition, the portfolio includes one Class B building located at 104 Challenger Drive. Constructed in 1996, the building was renovated in 2007 to include T-5 lighting and an ESFR sprinkler system. Cushman & Wakefield arranged the sale of the portfolio, which was approximately 90 percent leased at the time of sale.
CHICAGO — Inland Real Estate Acquisitions LLC has closed on the purchase of four retail properties occupied by Jewel-Osco in suburban Chicago. The properties total a combined 248,622 square feet and feature new 20-year leases. The assets include: 1860 S. Arlington Heights Road in Arlington Heights; 1340 Patriot Blvd. in Glenview; 1759 W. Odgen Ave. in Naperville; and 7122 W. 40th St. in Stickney. Joe Cosenza of Inland and Gina LaMantia, managing counsel for Charles J. Benvenuto PC, completed the transaction on behalf of an Inland affiliate. The seller was not disclosed.
COPPELL, TEXAS — Lee & Associates Dallas/Fort Worth has completed a lease extension and expansion totaling 445,695 square feet located at 777 Freeport Parkway in Coppell, about 22 miles northwest of Dallas. Bob Gibson of CBRE represented the tenant, C&S Wholesale Grocers Inc., a wholesale grocery supplier and leading supply chain company for the food industry. Ken Wesson and Mark Graybill of Lee & Associates represented the landlord, GLP, a developer of logistics facilities based in Baltimore.
SPRING, TEXAS — EDGE Capital Markets has brokered the sale of Legends Ranch Shopping Center, an 18,500-square-foot retail asset located at 2907 Rayford Road in Spring, a suburb of Houston. Josh Jacobs and Burdette Huffman of EDGE Capital Markets represented the seller, Peterson Legends Ranch Investors LP, in the transaction. Located at the intersection of Rayford Road and Canyon Ranch Drive, Legends Ranch was fully leased at the time of sale to tenants including McDonald’s and Timewise.
GARDEN GROVE, CALIF. — Khanna Enterprises has purchased the 376-room Wyndham Anaheim Garden Grove hotel in Orange County for an undisclosed sum. The hotel is located at 12021 Harbor Blvd. The property includes more than 30,000 square feet of meeting space, three food and beverage outlets, a fitness center and an outdoor pool. Pacific Hospitality Group developed the Wyndham Anaheim as the Crowne Plaza Anaheim Resort in 1999. The hotel was rebranded under the Wyndham flag in May 2014 and, since then, PHG has invested more than $5 million in capital improvements to the hotel. Renovations included including a transformation of the lobby and food and beverage outlets. Following the sale, the purchaser plans to renovate, reposition and reflag the hotel as a Delta by Marriott.
NORTH HAVEN, CONN. — Calare Properties has acquired a warehouse distribution facility, located at 33 Stiles Lane in North Haven, for an undisclosed price. Situated on 14 acres, the property features 175,000 square feet of warehouse and distribution space. Along with the purchase, Calare secured a 10-year lease with a supplier of chemical additives and measuring instruments, bringing the building to 100 percent occupancy, including the current tenant Millwood Inc. The one-story steel-frame warehouse features 32-foot ceilings, 18 tailboard docks and three drive-in doors. The name of the seller was not released.
DALLAS — Inland Real Estate Acquisitions LLC has closed the purchase of a 16,050-square-foot medical office building located at 5494 Glen Lakes Drive in Dallas. Built in 2003 and situated across from Texas Health Presbyterian Hospital, the property is leased to Dallas Eye Care Associates on the street level and Walnut Hill Surgery Center on the third floor. The property also features ground-level parking. Matthew Tice of Inland Real Estate Acquisitions and David Neboyskey of The Inland Real Estate Group’s law department arranged the transaction on behalf of an Inland affiliate.
CHICAGO — Harrison Street Real Estate Capital LLC has agreed to acquire a portfolio of six student housing properties in Germany from MPC Capital AG. The portfolio consists of more than 1,000 beds and serves university students in Berlin, Bonn, Kaiserslautern, Leipzig and Nuremberg. In addition, Harrison Street has formed a strategic joint venture with MPC Capital to acquire student housing properties across Europe. Headquartered in Germany, MPC Capital is a developer and operator of student accommodations. A press release announcing the transaction didn’t provide a purchase price or the expected closing date. Under the terms of the joint venture, the properties will continue to be managed under MPC Capital’s STAYTOO brand and existing property management teams. MPC Capital has identified several other properties as possible acquisitions for the joint venture, which will also be managed under the STAYTOO brand. Germany has Europe’s largest student population and a supply-constrained student accommodation market, according to Robert Mathias, senior managing director and head of international at Harrison Street. Those attributes plus strong user demand and enrollment growth present an attractive investment opportunity, adds Mathias. Chicago-based Harrison Street is one of the largest owners of student housing in the United States and Europe. Harrison …
HOUSTON — The Silver Group has arranged the sale of a single-tenant retail store in northwest Houston that is leased to Walgreens. Walgreens chose the newly built store, located at 11220 Louetta Road, as a relocation for an older Walgreens drugstore roughly a half-mile to the west. The new store is situated adjacent to The Vintage, a 630-acre enclave featuring single-family residences, a Whole Foods Market-anchored shopping center, office space and multifamily properties. The Silver Group represented the undisclosed developer in the sale, and SVN-Texas represented the undisclosed buyer. The new Walgreens is the 71st drugstore The Silver Group has brokered.
TROY, MICH. — Bontaz Centre has signed a 40,000-square-foot industrial lease for its North American headquarters in Troy. Previously occupied by International Automotive Components, the property is located at 1099 Chicago Road. Founded in 1965, Bontaz Centre is an automotive fluid management company that specializes in subassembly design and production. The company, which has had a small presence in Madison Heights, will begin occupying the new space in March 2018 and expects to expand its lease by an additional 20,000 square feet to increase production processes and accommodate a growing workforce. Peter Kepic and Peter Kepic Jr. of Colliers International represented the landlord, John Secco of Allegra Development, in the lease transaction. Gary Grochowski and Bryan Barnas of Colliers represented the tenant.