MESQUITE, TEXAS — Stream Realty Partners has negotiated a 199,750-square-foot industrial lease renewal and expansion at 1201 Big Town Blvd. in the east Dallas suburb of Mesquite on behalf of CHEP USA, an Atlanta-based logistics solutions company. Cannon Green, Matt Dornak and Ryan Wolcott of Stream Realty represented the landlord, Huntington Industrial Partners, in the lease transaction. Cushman & Wakefield represented the tenant in the deal.
MORTON GROVE, ILL. — Celtic Chicago Inc. has moved from Niles, Ill., to an 8,200-square-foot office in Morton Grove, a suburb of Chicago. The marketing agency now occupies the office location at 8120 Lehigh Ave. Jason Hall of Charlie Green Studio designed the interior of the one-story office. The layout, a combination of large and small meeting areas, encourages employee collaboration.
KALAMAZOO, MICH. — NewCraft Cabinetry has opened a 4,446-square-foot retail store at Hatfield Avenue in Kalamazoo. This will be the cabinetry company’s first retail location. Marc Tourangeau and Kara Schroer of NAI Wisinski arranged the lease transaction for the standalone store.
HOUSTON — Prologis Inc. has purchased four Class B distribution warehouses totaling 809,196 square feet in Houston. The four buildings are located within West by Northwest Industrial Park, a 39.6-acre property situated near the intersection of Beltway 8 and U.S. Highway 290 on Houston’s northwest side. Rusty Tamlyn and Trent Agnew of HFF represented the seller, an affiliate of Nuveen Investments, a Chicago-based asset management firm. The sales price was undisclosed.
SAN DIEGO — A local hotel developer has acquired 1.6 acres of land in Escondido for $3.5 million. The undeveloped parcel is located at 200 La Terraza Blvd. It is entitled for a 105-room SpringHill Suites by Marriott hotel. Terry Jackson and Matt Davis of Cushman & Wakefield represented the buyer. The seller was San Bernardino Hospitality LLC.
AMERICAN FORK, UTAH — Four Foods Group (FFG), a restaurant development, investment and management company, has acquired 48 Little Caesars restaurants in Alabama and Louisiana. This acquisition caps a flurry of recent activity for FFG, including the acquisition of the R&R Barbecue restaurant concept and its locations in Salt Lake City and the acquisition of The Soda Shop and its Arizona-based locations. These transactions add to FFG’s presence as a franchisee in the Kneaders Bakery & Cafe brand, where the company currently owns 44 Kneaders restaurants. In all, FFG now operates 97 restaurants in Utah, Arizona, Nevada, Colorado, Alabama and Louisiana, with 2017 annual revenues projected to exceed more than $150 million. In addition to its American Fork-based corporate headquarters, FFG has now opened a second corporate office in Birmingham, Ala., that will initially house 28 FFG corporate employees. More than 800 additional employees will serve in the Little Caesars locations in Alabama and Louisiana, bringing FFG’s total employee base to more than 3,000 employees across seven states. W Partners Group LLC acted as the exclusive financial advisor to Four Foods Group in the transaction. Carman Lehnhof Israelsen LLP acted as legal counsel.
VICTORVILLE, CALIF. — Progressive Real Estate Partners has sold two outparcels at the entrance to the Mall of Victor Valley in Victorville for $4.2 million. The 575,000-square-foot Mall of Victor Valley has freeway visibility on 1-15 and is anchored by Macy’s, JC Penney, Dick’s Sporting Goods Sears and Cinemark Theaters. The first transaction was for an outparcel at 14390 Bear Valley Road. Big 5 has occupied the 8,000-square-foot building since it was constructed in 1987. A private investor from southern California purchased the property for $1.58 million in an all-cash transaction. Progressive Real Estate Partners brokers Mike Lin and Brad Umansky represented both the buyer and seller in the deal. The second transaction was for a multi-tenant outparcel at 14350 Bear Valley Road. Built in 2005, the 14,120-square-foot retail building includes a 9,200-square-foot former David’s Bridal and four shop spaces totaling 4,920 square feet. A partnership formed by Alan Gottlieb of Real Estate Affiliates purchased the property for $2.65 million. Sit ‘n Sleep recently opened a 9,200-square-foot store at the property. Progressive Real Estate Partners brokers Brad Umansky and Liana Ahdoot marketed the property and represented the seller, a private Los Angeles-based investor.
MILWAUKEE — Dakonte Products Group Inc. has signed an 8,734-square-foot industrial lease in Milwaukee. The manufacturer of vinyl products will occupy the space at 6615 West Mill Road. GFG Chicago Industrial ML LLC owns the building. Samuel M. Dickman Jr., Samuel D. Dickman, Zach Hansen and TJ Huenerbein of the Dickman Co. Inc. brokered the transaction.
DENVER — Pinnacle Real Estate Advisors LLC has arranged the $1.9 million sale of a 12-unit housing community located one block from the University of Denver campus. Jeff Johnson and Matt Ritter of Pinnacle represented the undisclosed seller, and Peter Sengelmann and Jeff Johnson of Pinnacle represented the undisclosed buyer in the transaction.
WASHINGTON, D.C. — Washington REIT has signed a contract to acquire Watergate 600, a 309,387-square-foot office building located at 600 New Hampshire Ave. N.W. in Washington, D.C. Katherine B. Bradley and David G. Bradley, owners of publishing firm Atlantic Media, have agreed to sell Watergate 600 to Washington REIT for $135 million. Atlantic Media occupies 140,000 square feet of space at the 12-story office building on a long-term lease. Built in 1972 along the Potomac River, Watergate 600 is part of the six-building Watergate complex and features direct access to Interstate 66 and the Metrorail’s Foggy Bottom rail station. The asset was 97 percent leased at the time of sale.
