sales_and_leases

Stein Sells Three Self-Storage Properties in Metro Atlanta Totaling 300,000 SF

by Camren Skelton September 25, 2017

CUMMING, MARIETTA AND ATLANTA, GA. — Atlanta-based Stein Investment Group has sold three of its Space Shop Self Storage properties in metro Atlanta totaling approximately 300,000 square feet. Life Storage LP acquired the Cumming, Marietta and Atlanta properties for an undisclosed price on behalf of one of its joint venture partners. The 103,700-square foot Space Shop Cumming features 800 units and was 90 percent leased at the time of sale. Located at 3148 Johnson Ferry Road in Marietta, Space Shop East Cobb features amenities such as climate-controlled wine storage. The facility was 88 percent leased at the time of sale. Developed as an urban, infill opportunity, Space Shop Old Fourth Ward is located at 486 Decatur St. in Atlanta and features five levels of storage, access control and covered loading. At the time of sale, the property was 85 percent leased.

September 25, 2017

Hospitality Restaurant Retail Texas

Three Restaurants, Hotel to Join 160,000 SF Retail Center in Metro Oklahoma City

by Taylor Williams September 25, 2017

YUKON, OKLA. — Hooter’s, Cheddar’s Scratch Kitchen and Arby’s will join The Market at Czech Hall, a 160,000-square-foot retail center situated along Interstate 40 in Yukon, about 17 miles west of Oklahoma City. The restaurants will occupy three different pad sites totaling about 2.2 acres. Along with the restaurants, a Sleep Inn hotel will also open on the property, which is owned by GBT Realty Corp., at various times in 2018.

September 25, 2017

Industrial Texas

JLL Negotiates Sale of 275,000 SF Warehouse in Houston

by Taylor Williams September 25, 2017

HOUSTON — JLL has negotiated the sale of a 275,000-square-foot warehouse located at 550 Aleen St. in Houston. The property features 27-foot clear heights, 44 dock-high doors and a fully fenced truck court. Ryan Fuselier and Travis Secor of JLL represented the buyer, Polymers Packaging and Warehousing Inc., a Houston-based supplier of plastic resins. The space will serve as the company’s new global manufacturing and distribution center. Bob Berry and Grant Hortenstine of Avison Young represented the seller, Aleen Street Associates Ltd.

September 25, 2017

Industrial Midwest Wisconsin

ORG Acquires 879,704 SF Industrial Portfolio in Milwaukee

by Kristin Harlow September 25, 2017

MILWAUKEE — Oak Realty Group Inc. (ORG) has acquired an 879,704-square-foot industrial portfolio in Milwaukee. The 10 buildings are situated on approximately 57 acres near Milwaukee’s General Mitchell International Airport. Originally constructed in phases through 2004 by a local developer, the buildings range in size from 40,000 to 215,000 square feet. ORG plans to upgrade and renovate the portfolio, as well as work with several tenants who want to expand. ORG partnered with The Africk Family Office for the acquisition.

September 25, 2017

Illinois Midwest Office

Tucker Development Completes Lease-Up of Office Building in Chicago’s Fulton Market

by Kristin Harlow September 25, 2017

CHICAGO — Tucker Development has completed the lease-up of the Offices at 900 West in Chicago. The property, which includes 45,000 square feet of retail space, is located in the heart of the Fulton Market neighborhood. Spaces, an Amsterdam-based co-working space provider, signed a 40,000-square-foot lease. Bill Rogers and Kerry Gilar of JLL represented Spaces in the deal. The firm will occupy its space in early 2018. In a separate transaction, private investment firm ParkerGale leased 6,146 square feet. Jud Henry of EnTrust Realty Advisors represented the firm in the lease transaction. Ron Lakin, Jessica O’Hara and Ellen Zalatoris of CBRE represented Tucker Development in both leases.

September 25, 2017

Illinois Midwest Multifamily

Marcus & Millichap Brokers $9M Condo Deconversion in Chicago

by Kristin Harlow September 25, 2017

LAKEVIEW, ILL. — Marcus & Millichap has brokered the sale of 3244 N. Clifton Ave. in Chicago’s Lakeview neighborhood for $9 million. The condominium building features 32 units. Kyle Stengle of Marcus & Millichap marketed the property on behalf of the condo owners. Stengle also secured the buyer, Beal Properties. Under the Condominium Property Act in Illinois, condo unit owners can elect to sell a condo property if 75 percent or more are in agreement. Sellers then have the option to either move out or to lease back the property from the new owner.

September 25, 2017

Midwest Missouri Retail

Hilliker Corp. Arranges $3.3M Sale of Retail Property in St. Louis

by Kristin Harlow September 25, 2017

ST. LOUIS — Hilliker Corp. has arranged the sale of a 28,840-square-foot retail property in St. Louis for $3.3 million. The center is located on 3.6 acres at 5228 and 5240 South Lindbergh Blvd. Outback Steakhouse is the primary tenant at the property. Frank Yocum of Hilliker Corp. represented the seller, NICO Properties I LLC. Stephen F. Bahn Commercial Real Estate represented the buyer, DLJ Lindbergh LLC.

September 25, 2017

Multifamily Texas

Marcus & Millichap Arranges Sale of 308-Unit Apartment Complex in Houston

by Taylor Williams September 22, 2017

HOUSTON — Marcus & Millichap has arranged the sale of Barrington Apartments, a 308-unit multifamily complex situated on 7.5 acres at 5959 Bonhomme Road in Houston. Built in 1981, the property offers a mix of one- and two-bedroom units averaging approximately 723 square feet per unit. Jeffrey Fript and Christian Mazzini of Marcus & Millichap represented the seller, a local partnership, in the transaction. The buyer and other terms of sale were not disclosed.

September 22, 2017

Retail Texas

Phillips Edison Acquires 55,400 SF Grocery-Anchored Shopping Center in Metro Fort Worth

by Taylor Williams September 22, 2017

MANSFIELD, TEXAS — Phillips Edison Grocery Center REIT II, an affiliate of Phillips Edison & Co., has acquired Mansfield Market Centre, a 55,400-square-foot, grocery-anchored shopping center in the southern Fort Worth suburb of Mansfield. The center is currently leased to tenants such as Dunkin’ Donuts, Firehouse Subs, Brain Balance and Smoothie King. The seller was not disclosed.

September 22, 2017

Office Texas

JLL Brokers Sale of 55,216 SF Office Property in Austin

by Taylor Williams September 22, 2017

AUSTIN, TEXAS — JLL has brokered the sale of Nine One Six, a two-story, 55,216-square-foot office property located at 916 S. Capital of Texas Highway in Austin. Jeff Coddington, Kevin Kimbrough and Brent Powdrill of JLL represented the seller, San Francisco-based JMA Ventures LLC, in the transaction. Austin Stone Community Church purchased the asset for an undisclosed price. The sale includes the 5.2 acres on which the property is situated.

September 22, 2017

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