sales_and_leases

Acadia Strategic Opportunity Fund IV Acquires 272,060 SF Retail Center Near St. Louis for $35.4M

by Kristin Harlow March 21, 2017

FAIRVIEW HEIGHTS, ILL. — Acadia Strategic Opportunity Fund IV has acquired Lincoln Place in Fairview Heights near St. Louis for $35.4 million. The 272,060-square-foot shopping center is located at 5905-6109 North Illinois St. Lincoln Place is nearly fully leased to a mix of national tenants, including Kohl’s, Ross, Old Navy, Marshalls, Famous Footwear, Five Below, Pier 1 Imports, Saint Louis Bread Co. and Mattress Firm, in addition to a separately owned Lowe’s, Chili’s and Chick-fil-A. Developed in 1999, the center was renovated in 2005. Amy Sands and Clinton Mitchell of HFF represented the seller, Spirit Realty Capital. Timothy Joyce of HFF secured a $23.1 million acquisition loan for the new owners. A national bank provided the five-year loan. Acadia Strategic Opportunity Fund IV is managed by Acadia Realty Trust.

March 21, 2017

Georgia Retail Southeast

Cushman & Wakefield Secures 115,314 SF Office Lease in Metro Atlanta

by Taylor Williams March 21, 2017

KENNESAW, GA. — Cushman & Wakefield has negotiated an 115,314-square-foot lease extension and expansion on behalf of furniture and electronics retailer Aaron’s Inc. As part of the deal, the retailer now occupies 400 and 500 Chastain Center in Kennesaw, located 27 miles northwest of Atlanta. Kirk Diamond, April Parrish, Erin Smith, Jennifer Leal and Steven Taylor of Cushman & Wakefield represented Aaron’s Inc. in the transaction. The representative of the landlord, TerraCap Management Inc., was not disclosed.

March 21, 2017

Illinois Midwest Multifamily

Essex Brokers $10.1M Sale of Multifamily Portfolio in Suburban Chicago

by Kristin Harlow March 21, 2017

NAPERVILLE AND GENEVA, ILL. — Essex Realty Group Inc. has brokered the sale of two apartment properties in suburban Chicago for $10.1 million. The larger asset, 7-20 Simpson St., is a 56-unit apartment complex located in Geneva. The property consists of three two-story buildings. All units measure approximately 900 square feet and are two-bedroom units. The second property, 1330 E. Chicago Ave., is a 34-unit apartment building located in Naperville. The property consists of 31 one-bedroom units and three two-bedroom units. Doug Imber, Brian Kochendorfer and Brian Karmowski of Essex brokered the transaction.

March 21, 2017

Industrial Midwest Missouri

XPO Logistics Signs 213,558 SF Industrial Lease in Hazelwood, Missouri

by Kristin Harlow March 21, 2017

HAZELWOOD, MO. — XPO Logistics Supply Chain Inc. has signed a 213,558-square-foot industrial lease, occupying the entire distribution facility located at 1619 Park 370 Blvd. near St. Louis in Hazelwood. The company is scheduled to take occupancy in April after an interior build-out is completed. HSA Commercial Real Estate developed 1619 Park 370 Blvd. and an adjacent 340,000-square-foot distribution center after purchasing the 30-acre land site from TRiSTAR Properties in 2001. Both facilities are part of the 450-acre Park 370 development situated near the St. Louis Lambert International Airport. Jeffrey Hawley and Brandon Duncan of Block Real Estate Services represented ownership in the lease transaction, while Katie Haywood and Jonathan Hinds of CBRE represented the tenant. XPO Logistics is a global logistics and transportation services provider with 1,425 locations around the world.

March 21, 2017

Illinois Industrial Midwest

Avison Young Arranges Sale of 61,000 SF Industrial Building in Cary, Illinois

by Kristin Harlow March 21, 2017

CARY, ILL. — Avison Young has arranged the sale of a 61,000-square-foot building in Cary, about 45 miles northwest of Chicago. The sales price was not disclosed. The property, located at 165 Chicago St., is fully leased to AMPAC, a global manufacturer of creative and flexible packaging for pharmaceuticals, health and beauty products and retailers. The building, developed in 1985, includes three exterior docks, one drive-in door and heavy power for manufacturing. Erik Foster and Mike Wilson of Avison Young represented the seller, ML Realty Partners. Agracel Inc., a regional industrial development firm based in Effingham, Ill., purchased the property.

March 21, 2017

Office Texas

Coldwell Banker Secures Two Office Leases Totaling 52,125 SF in Arlington

by Taylor Williams March 21, 2017

ARLINGTON, TEXAS — Coldwell Banker Commercial has arranged leases on behalf of General Motors Financial Co. Inc. and Epic Health Services, a nursing and pediatric therapy firm, at Bardin Pointe, a 113,000-square-foot office property in Arlington. GM Financial leased 46,228 square feet and Epic leased 5,897 square feet within the two-story building, located at 1351 E. Bardin Road, to raise its occupancy to 96 percent. Rick Hopwood of Hopwood Commercial Real Estate represented GM Financial, and Cribb Altman of Cushman & Wakefield represented Epic Health.

March 21, 2017

Retail Texas

Marcus & Millichap Arranges Sale of 37,248 SF Retail Center in Houston

by Taylor Williams March 21, 2017

HOUSTON — Marcus & Millichap has arranged the sale of Royal Providence Plaza, a 37,248-square-foot retail property located at 9103-9111 FM 1960 West in Houston. Derek Hargrove, Justin Miller and Davis Hansen of Marcus & Millichap represented the seller, an undisclosed private investor, and procured the buyer, an unspecified partnership.

March 21, 2017

Retail Texas

Amsdell Co. Acquires 49,000 SF Self-Storage Center in Fort Worth

by Taylor Williams March 20, 2017

FORT WORTH, TEXAS — Compass Self Storage, a division of Ohio-based development and construction firm Amsdell Co., has acquired a self-storage facility located at 4209 Alliance Gateway Road in Fort Worth. The center features more than 49,000 square feet of rentable space, climate-controlled units and covered RV/boat storage spaces. The acquisition gives Amsdell Co. 77 self-storage centers nationwide.

March 20, 2017

Multifamily Texas

Moran & Co. Arranges Sale of 348-Unit Apartment Complex in Grand Prairie

by Taylor Williams March 20, 2017

GRAND PRAIRIE, TEXAS — Moran & Co. Southwest has arranged the sale of Three60 North Apartments, a 348-unit complex located at 1450 N. State Highway 360 Service Road in the Dallas suburb of Grand Prairie. Moran & Co. represented the seller, The Kislak Organization, a Florida-based real estate investment firm, in the transaction. The name and representative of the buyer were not disclosed.

March 20, 2017

Florida Office Southeast

Meridian, Eightfold Real Estate Acquire 252,235 SF Office Park in Tampa for $18.5M

by Taylor Williams March 20, 2017

TAMPA, FLA. — Meridian Development Group and joint venture partner Eightfold Real Estate Capital have acquired Beaumont Business Center, an 11-building, 252,235-square-foot office park located at the intersection of Hillsborough Avenue and Veterans Expressway in Tampa. Meridian and Eightfold acquired the 20-acre property, which will be rebranded as Meridian 589, from Lone Star Real Estate Fund for $18.5 million.

March 20, 2017

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