IRVINE, CALIF. — SendGrid has leased 22,000 square feet of office space at 400 Spectrum Drive in the Irvine Spectrum. The customer communications platform designer will occupy the entire fourth floor of the new, 21-story campus in the heart of Irvine Spectrum early next year. The lease brings the new tower to 36 percent pre-leased. It comes just weeks after Irvine Company announced that 200 Spectrum Center, its year-old sister building, is 93 percent leased.
SAN ANTONIO — A joint venture between AMAC Holdings and EBEX Holdings has acquired Crescent at Alamo Heights, a 306-unit apartment community located in the Alamo Heights neighborhood of San Antonio for $37 million. Built in 1993, the property is situated on 14.6 acres and features a mix of one-, two- and three-bedroom units ranging in size from 669 to 1,370 square feet. Amenities include a pool, playground, picnic area and a business center.
HOUSTON — CBRE has arranged the sale of a four-building portfolio of industrial properties totaling 414,540 square feet in Houston. Collectively, the properties were 100 percent leased at the time of sale. Jack Fraker, Randy Baird, Heather McClain Venegoni and Tom Lynch of CBRE represented the seller, EastGroup Properties. Cabot Properties purchased the portfolio for an undisclosed price.
DALLAS — Florida-based Foundry Commercial and its capital partner, San Francisco-based Stockbridge have acquired Northview Plaza, a 116,099-square-foot retail center located at 19674 E. Northwest Highway in Dallas. The grocery-anchored property was 86 percent leased at the time of sale. The purchase raises the volume of Foundry’s Dallas acquisitions over the past 18 months to approximately $160 million.
DES PLAINES, ILL. — Cawley Chicago has been selected as the leasing agent for the O’Hare Offices, a three-building, 450,000-square-foot office portfolio in Des Plaines near the Chicago O’Hare International Airport. The portfolio consists of 999, 1011 and 1111 Touhy Ave. Affiliates of Siete 7 LLC, a private investment group that occupies space in one of the buildings, own the portfolio. The three buildings were developed from 1973 to 1979 and acquired in separate transactions in 2008 and 2009. The buildings are currently 50 percent leased and offer spaces ranging from 933 square feet to 60,000 square feet. Amenities include executive conference and training rooms as well as a fitness center. The owners of the building are undertaking several initiatives to help market and position the buildings, such as creating move-in ready suites, general cleanup and refreshing of available space and improved property signage.
UNIVERSAL CITY, TEXAS — San Antonio Commercial Advisors (SACA) has brokered the sale of Kitty Hawk Shopping Center, a 13,084-square-foot strip retail center located at 12000 E. Loop 1604 North in the San Antonio metro of Universal City. Shadow-anchored by H-E-B, the center was 85 percent leased at the time of sale to tenants such as The Cash Store, Edward Jones and Lee’s Kitchen. Bradley Suttle of SACA represented the buyer, a Texas-based limited liability company. Other terms of sale were not disclosed.
BENSENVILLE, ILL. — NKF has negotiated three lease renewals for industrial companies in Bensenville, located in the heart of the O’Hare market. Adam Marshall of NKF represented the tenants in all of the lease transactions. Mitsui-Soko USA Inc. signed a lease renewal for 71,242 square feet at 888 Thomas Drive within Bensenville Industrial Park. The landlord, Prologis, was self-represented. Lion Logistics signed a 45,088-square-foot lease renewal at 1001 Bryn Mawr. The property is also owned by Prologis. In addition to the renewal, NKF negotiated funding for tenant improvements and upgrades to the space on behalf of the tenant. Fidelitone Logistics signed a 43,053-square-foot renewal at 1107 Ellis St. NKF secured a long-term renewal with a tenant improvement allowance for various building improvements. The owner of the building, Industrial Property Trust, was self-represented in the lease negotiations.
TROY, MICH. — Colliers International has brokered the sale of a 12,180-square-foot industrial warehouse in Troy. The sales price was not disclosed. The property is located at 1070 Livernois Road. John Lominack of Colliers represented the purchaser and the seller in the sale of the property formerly owned by 3DPolymers. DHM Associates, a machinery repair company that specializes in electronic control systems, purchased the building with plans to utilize the space immediately.
TOMAH, WIS. — Marcus & Millichap has arranged the sale of a retail property net leased to Starbucks in Tomah in central Wisconsin for $1.3 million. The 2,100-square-foot building is located at 224 Buan Ave. Starbucks has 10 years remaining on its lease. Mark Ruble, Zack House and Jamie Medress of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. Todd Lindblom, also of Marcus & Millichap, assisted in closing the transaction. The buyer was not disclosed.
BEVERLY AND DANVERS, MASS. — Colliers International has brokered the sale of a seven-building flex/industrial portfolio located in Beverly and Danvers, approximately 25 miles northeast of Boston. Brookwood Financial Partner sold the portfolio to R.J. Kelly Co. Inc. for $52.8 million. Scott Dragos, Doug Jacoby, Tony Hayes, Tim Mulhall and Dan Hines of Colliers represented the seller in the deal. Totaling more than 500,000 square feet, the portfolio is located at 24-42, 33, 35, 37, 54, 71 and 72 Cherry Hill Drive.
