CYPRESS, TEXAS — An affiliate of Finial Group LLC has acquired Lakes of Riata, a 31,113-square-foot, multi-tenant retail property in Cypress, a northeastern suburb of Houston. Located at 10750 Barker Cypress Road near State Highway 290, the center is currently leased to tenants such as Subway and Shipley Do-nuts.
BEDFORD, TEXAS — Marcus & Millichap has brokered the sale of a 70,960-square-foot, newly constructed retail property located at 1 Texas Harley Way in the Dallas-Fort Worth metro of Bedford. The property is currently leased to Harley-Davidson, which operates a dealership on-site. Philip Levy of Marcus & Millichap represented the buyer and seller, both of whom were private investors, in the transaction.
POMPANO BEACH, FLA. — Cushman & Wakefield has brokered the $29.6 million sale of Pompano Plaza, a 126,928-square-foot grocery-anchored shopping center located at 1405 S. Federal Highway in Pompano Beach. Echo Realty purchased the property from Pompano Plaza Ltd. Originally developed in 1973, the shopping center was redeveloped in 2006 when a portion of the original structure was demolished to make way for a new Publix store. Pompano Plaza was fully leased at the time of sale to tenants including Marshalls, Office Depot and Tuesday Morning. Mark Gilbert, Adam Feinstein and Mitchell Halpern of Cushman & Wakefield’s Miami office represented the seller in the transaction.
LISLE, ILL. — First Western Properties Inc. has brokered the sale of 2 Woodland Corporate Center in Lisle, about 25 miles west of Chicago, for $4.7 million. The 56,000-square-foot office building is located at 4951 Indiana Ave. The property is 100 percent leased to two investment-grade tenants. Bradford Dessy of First Western Properties represented the out-of-state buyer. Jason St. John of Greenstone Partners represented the undisclosed seller.
BLACKLICK, OHIO — Marcus & Millichap has negotiated the sale of a 10,000-square-foot industrial property net leased to Sunbelt Rentals in Blacklick, about 14 miles east of Columbus. The facility sits on 3.8 acres at North Reynoldsburg New Albany Road. The building was constructed as a build-to-suit for Sunbelt, an equipment rental company with over 550 locations in North America. David Houston, Patrick Doherty and Scott A. Ryan of Marcus & Millichap marketed the property on behalf of the seller, a limited liability company. The team also secured the buyer, an out-of-state private partnership. Michael Glass acted as the broker of record in closing the transaction.
CANTON, OHIO — NAI Spring has arranged an 8,000-square-foot industrial lease for Pretec Directional Drillings in Canton. The facility will serve as the Ohio location for the Eau Claire, Wis.-based company’s pipeline drilling functions. The facility is located at 1808 Kimball Road Southeast. Bryce Custer of NAI Spring represented both the tenant and undisclosed landlord in the lease transaction.
HOUSTON AND DALLAS — Whitestone REIT (NYSE: WSR) has entered into separate purchase agreements to acquire BLVD Place in Houston and Eldorado Plaza in Dallas for a combined $204.6 million. The sellers were undisclosed. The Houston-based REIT expects to close the acquisitions in May, subject to customary closing conditions. Upon closing, BLVD Place will be Whitestone’s 28th property in the Houston region and Eldorado Plaza will be the company’s seventh property in the Dallas area. Situated at 1800 Post Oak Blvd. in Uptown Houston, the 216,944-square-foot BLVD Place was 99 percent leased at the time of sale to tenants such as Whole Foods Market, Elaine Turner, North, Peska, Pinkberry, True Food Kitchen, New Balance and Verizon Wireless. The brewpub within Whole Foods was the first brewery located inside a grocery store in the United States. BLVD Place also features office space, including the regional headquarters for Frost Bank. Houston-based Wulfe & Co. developed the first two phases of BLVD Place. The acquisition of BLVD Place includes 1.4 acres of land that Whitestone REIT will use to develop a $45 million, six-story mixed-use building. The future project will feature 46,000 square feet of retail space on the first two floors and …
LOS ANGELES — An e-commerce company has leased 295,267 square feet of infill logistics space at the Goodman Logistics Center in the Los Angeles submarket of Santa Fe Springs. The facility is situated less than two miles from I-5 and I-605. It is 22 miles from the ports of Los Angeles and Long Beach and 15 miles from downtown Los Angeles. The online supplier of automotive parts signed a seven-year lease on the first of three logistics facilities currently under construction. It is scheduled to take occupancy this summer. The remaining two facilities will be completed by the end of the year. The Goodman Group is developing the property.
HURST, TEXAS — Marcus & Millichap has brokered the sale of a 41,839-square-foot retail property located at 740-760 W. Pipeline Road in the Dallas-Fort Worth metro of Hurst. Built in 2015, the property is fully leased to a Walmart Neighborhood Market. Geoff Ficke and Chris Adams of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Jamie Medress and Mark Ruble, also with Marcus & Millichap, represented the buyer, a private investor who purchased the store at a 4.5 percent capitalization rate.
AUSTIN, TEXAS — Equitable Commercial Realty (ECR) has negotiated a 16,444-square-foot lease on behalf of engineering firm Cobb, Fendley & Associates Inc. at Centennial Towers, an office property located at 505 E. Huntland Drive in Austin. Matt Levin and Jason Steinberg of ECR represented the landlord in the transaction. Jason Whittington of NAI Partners represented the tenant.
