sales_and_leases

Footprint Relocates Corporate Headquarters to Park Lucero in Gilbert

by Nellie Day January 31, 2018

GILBERT, ARIZ. — Footprint LLC has relocated its corporate headquarters to Park Lucero Phase II, a 131,796-square-foot, speculative industrial building in Gilbert. The building is situated on 48 acres at the northwest corner of Mustang Drive and Germann Road near the Gilbert/Chandler border. Park Lucero is a four-phase, Class A industrial park featuring a combination of buildings with dock-high, truck well and grade-level loading, 24- to 30-foot ceiling clear heights and an overall 2.1:1,000 parking ratio. Upon full buildout, Park Lucero will consist of nearly 600,000 square feet of industrial space in six buildings. Phase II is situated adjacent to Phase I, which was completed in 2015, and Phase III, completed this past summer. Phase II fronts the Santan Freeway (Loop 202), providing significant freeway visibility. Paul Gallo of First US Advisors represented Footprint, a sustainable technology firm. JLL’s Pat Harlan and Steve Sayre represented the landlords, Trammell Crow Co. and Artis REIT, in this transaction. Western Alliance Bank served as the lender.

January 31, 2018

Retail Texas

Dave & Buster’s to Open 40,000 SF Venue in Metro Houston

by Taylor Williams January 31, 2018

SHENANDOAH, TEXAS — Dave & Buster’s (NASDAQ: PLAY) will open a 40,000-square-foot location within MetroPark Square, a 175,00-square-foot retail and entertainment destination in Shenandoah, about 30 miles north of Houston. The Dallas-based games and entertainment retailer will join AMC Theatres as one of the anchor tenants at the development, the second phase of which is under construction. This phase will deliver 150,000 square feet of retail and restaurant space, two hotels and 300 multifamily units. The developer, Dallas-based Sam Moon Group, expects to complete this phase by February 2019.

January 31, 2018

Multifamily Texas

Praedium Group Acquires 291-Unit Apartment Community in Metro DFW

by Taylor Williams January 31, 2018

GRAPEVINE, TEXAS — The Praedium Group, a New York-based investment firm, has acquired Terrawood, a 291-unit multifamily community in the Dallas-Fort Worth (DFW) metro of Grapevine. Built in 2010, the property offers a mix of one-, two- and three-bedroom units ranging in size from 701 to 1,455 square feet. Amenities include a fitness center, dog park, saltwater pool and an outdoor kitchen area. The seller and sales price were not disclosed.

January 31, 2018

Maryland Multifamily Southeast Student Housing

Safanad Limited, Vie Holdings Acquire Student Housing Community in Metro D.C. for $69.5M

by Camren Skelton January 31, 2018

HYATTSVILLE, MD. — Dubai-based Safanad Limited, in partnership with Miami-based Vie Holdings, has acquired The Towers at University Town Center, a student housing community in Hyattsville, for $69.5 million. The name of the seller was not disclosed. The community is located roughly seven miles northeast of Washington, D.C., and caters to students attending Howard University, the University of Maryland and other colleges and universities in the metro D.C. area. The new ownership will invest $5 million to renovate the property with new rooftop finishes, expanded services, upgraded units and additional facilities. The Towers comprises two 16- and 17-story buildings and includes two-, three- and four-bedroom units. In addition, the community is located within walking distance to two Metro subway stations and its amenities include a pool, business center, 24-hour security services and garage parking.

January 31, 2018

Florida Multifamily Southeast

Marcus & Millichap Brokers $30M Sale of Multifamily Community in Tampa Bay Area

by Camren Skelton January 31, 2018

BRANDON, FLA. — Marcus & Millichap has arranged the $30 million sale of Lakeside Apartment Homes, a 228-unit apartment community in the Tampa Bay suburb of Brandon. Ned Roberts, Nicholas Meoli and Michael Donaldson of Marcus & Millichap represented the seller and procured the buyer, both of which are Florida-based limited-liability companies. The new owner will upgrade the property’s common areas and unit interiors. Constructed in 1985, Lakeside Apartment Homes is located directly across from Brandon Regional Hospital. Community amenities include a swimming pool, sports courts, car-care center, storage units and a lakeside gazebo.

January 31, 2018

Florida Loans Office Southeast

NorthMarq Arranges $25M Sale of, Acquisition Financing for Office Building in Melbourne, Florida

by Camren Skelton January 31, 2018

MELBOURNE, FLA. — NorthMarq Capital has arranged the $25 million sale of a 191,500-square-foot office building located at 1990 NASA Blvd. in Melbourne. The building is home to General Electric Co. Dallas-based Reserve Cap Partners acquired the asset from an undisclosed seller, and Will James of NorthMarq brokered the sale. In addition, NorthMarq arranged a 10-year, CMBS acquisition loan on behalf of Reserve Cap Partners.

January 31, 2018

Retail Southeast Tennessee

Big V Capital Buys 276,448 SF Shopping Center in Metro Nashville

by Camren Skelton January 31, 2018

HERMITAGE, TENN. — Big V Capital LLC has acquired Oakwood Commons, a 276,448-square-foot shopping center located at 4670 Lebanon Pike in Hermitage, roughly 16 miles northeast of Nashville. Other terms of the deal were not disclosed. Publix, Bed Bath & Beyond, PetSmart and Ross Dress for Less anchor the center, which was 88.6 percent leased at the time of sale. Additional tenants include Dollar Tree, Bank of America, KFC, Wells Fargo and Goody’s. Big V Properties, the property management affiliate of Big V Capital, will manage Oakwood Commons.

January 31, 2018

Illinois Industrial Midwest

CBRE Fund Acquires 1.4 MSF Industrial Portfolio in Chicago Area

by Kristin Harlow January 31, 2018

CHICAGO — CBRE Strategic Partners US Value 8 has acquired a six-building industrial portfolio totaling over 1.4 million square feet in the Chicago area. The purchase price was not disclosed. The portfolio is 95 percent leased to six tenants. The properties include: 2700 Ellis Road in Joliet; 2101 W. Haven Road in New Lenox; 2201 W. Haven Road in New Lenox; 2200 W. Haven Road in New Lenox; 2520 Diehl Road in Aurora; and 494 E. Lies Road in Carol Stream. The buildings range in size from 90,000 to 690,000 square feet and feature clear heights of 24 to 32 feet.

January 31, 2018

Industrial Midwest Ohio

Hillwood Purchases 1 MSF Distribution Center in Columbus, Ohio

by Kristin Harlow January 31, 2018

COLUMBUS, OHIO — Hillwood, a Perot company, has purchased TradePort I in Columbus for an undisclosed price. The 1 million-square-foot distribution center, located on 78 acres at 3780 TradePort Court, is expected to be completed soon. The building features a clear height of 36 feet, 185-foot truck courts, 102 dock doors, 400 car parks, 232 trailer spaces, LED lighting and ESFR sprinklers. The site also includes additional acreage for up to 209,188 square feet of building expansion or trailer parking. Hillwood also owns a 450,000-square-foot industrial building in the Groveport area.

January 31, 2018

Florida Office Southeast

Cushman & Wakefield Brokers $20.3M Sale of Office Park in Tampa

by Camren Skelton January 30, 2018

TAMPA, FLA. — Cushman & Wakefield has arranged the $20.3 million sale of Bay West, a 195,558-square-foot office park located at 5660 to 5840 W. Cypress St. in Tampa’s Westshore district. Mike Davis, Rick Brugge and Michael Lerner of Cushman & Wakefield arranged the transaction on behalf of the seller, Philadelphia-based Equus Capital Partners Ltd. Greenville, S.C.-based RealOP Investments acquired the asset. Bay West includes eight office buildings, constructed between 1983 and 1985. At the time of sale, the office park was 95 percent leased to tenants including Fidelity National Title, GEICO and Beef ‘O’ Brady’s. Paula Buffa and Lauren Coup of Cushman & Wakefield have been retained to handle the property’s leasing assignment.

January 30, 2018

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