DALLAS — Colliers International has brokered the sale of a 472,284-square-foot distribution center located at 2020 Singleton Road in west Dallas. The rail-served property offers convenient access to Interstates 30 and 35 and the Dallas North Tollway. Chris Teesdale and Tom Pearson of Colliers International represented the seller, an Ohio-based freight and logistics firm, in the transaction. Teesdale and Pearons also procured the buyer, 2020 Singleton Blvd. LLC.
IRVING, TEXAS — Eleven new food-and-drink-based concepts will open this month at Toyota Music Factory, an entertainment destination located within the Las Colinas district in Irving. New restaurants include Highway 61 South, a barbecue restaurant; Kabuki, a Japanese restaurant; and Texas Jam House, an eatery specializing in Southern cuisine. Night club Martini Ranch and frozen fruit bar Pop Factory by Maxfrut, among others, will also open stores within the destination, which will ultimately consist of 500,000 square feet of retail, restaurant and office space. An eight-screen Alamo Drafthouse Cinema will also open at Toyota Music Factory in April.
COPPELL, TEXAS — PickUp USA Fitness, a fitness chain dedicated to basketball, has opened a 16,936-square-foot gym at Sandy Lake Business Center in Coppell, a northwestern suburb of Dallas. The location was formerly leased to a Taekwondo studio. The gym will feature weights and cardio machines in addition to numerous courts for pick-up games. Private lessons and classes are also available. Allyson Yost and Cole Hooper of Colliers International represented Mosely Basketball, the franchise operator of the Coppell gym, in the lease negotiations. Erik Blaise of Bradford Commercial Real Estate Services represented the landlord. PickUp USA Fitness also operates franchises in Arizona, Florida and Nevada.
LISLE, ILL. — SVN | Chicago Commercial has brokered the $1.4 million sale of a 22,839-square-foot industrial building in Lisle. The property is located at 1958 University Lane. John McDermott and Aidan Bowe of SVN represented the buyer, a Michigan-based electrical motor seller.
GILBERT, ARIZ. — Arch Street Capital Advisors, on behalf of an institutional client, has purchased El Dorado Tech Center in Gilbert for an undisclosed price. Scottsdale, Ariz.-based GoDaddy.com fully occupies the 180,480-square-foot office property. The name of the seller was not released.
ELK GROVE VILLAGE, ILL. — Lee & Associates has brokered the sale of a 225,006-square-foot industrial building in Elk Grove Village for an undisclosed price. The property is located at 1501 Nicholas Blvd. Chris Nelson, Ken Franzese and John Cassidy of Lee & Associates represented the seller, Prologis. Chris Volkert and Brendan Green of Colliers International represented the buyer, GHP Group Inc., a manufacturing company that specializes in electric fireplaces and accessories, portable heating and barbecue grill products.
FREEPORT, MAINE — AAM 15 Management LLC has purchased Hilton Garden Inn Freeport Downtown for an undisclosed price. HFF arranged the sale. The 99-room hotel, located at 5 Park St., is the only hotel in its competitive set within walking distance of downtown Freeport, according to HFF. Completed in 2005, the hotel offers 7,500 square feet of meeting space, a restaurant, fitness center, indoor pool and car charging stations. Freeport is 18 miles north of Portland, Maine. Denny Meikleham, Alan Suzuki and Matthew Enright of HFF marketed the property on behalf of the private seller and procured the buyer. AAM 15 will manage the hotel.
GROTON, WALLINGFORD AND NEW LONDON, CONN. — Chozick Realty Inc. has brokered the sale of a five-property multifamily portfolio consisting of 455 units in Groton, Wallingford and New London for $48.2 million. Chozick Realty represented the seller, The Tree Group, in the transaction and procured the undisclosed buyer. Four complexes in the portfolio totaling 275 units are located in New London and Groton, in southeastern Connecticut midway between Boston and New York. The fifth property, totaling 180 units, is located in Wallingford, 14 miles north of New Haven. All five properties in the portfolio have full amenity packages including swimming pools, tennis courts, fitness centers, community rooms, walking trails and picnic areas.
WASHINGTON, D.C. — The NHP Foundation (NHPF) has acquired Woodmont Crossing Apartments, a 176-unit affordable housing community in Washington, D.C., for $44.6 million. The District of Columbia Housing Finance Agency (DCFHA) provided a $25.5 million acquisition loan for NHPF through the U.S. Department of Housing and Urban Development (HUD). In addition, the Royal Bank of Canada provided $12.1 million in low-income housing tax credits (LIHTC) on behalf of the NHPF. The Woodmont Crossing United Tenants Association selected NHPF to acquire the property as part of the D.C. Tenant Opportunity to Purchase Act (TOPA). The deal marks NHPF’s fifth TOPA acquisition in the D.C. area. As part of the agreement, NHPF will invest $42,000 per unit to upgrade kitchen and bath areas, as well as making 5 percent of the units fully handicap accessible. The property was originally constructed in 2002. All of the units are reserved for residents earning 60 percent of the area median income (AMI).
RICHMOND, VA. — CBRE | Richmond has brokered the $31.3 million sale of Byrd Corporate Park, a 10-building industrial park located at the intersection of South Laburnum Avenue and Charles City Road in Richmond. The 475,738-square-foot property is located less than two miles from Richmond International Airport. Will Bradley and Matt Anderson of CBRE | Richmond, Scott Adams of CBRE | Hampton Roads and Frank Fallon of CBRE’s Atlanta office arranged the transaction on behalf of the seller, a joint venture between Adler Real Estate Partners and Trigate Capital (AF Byrd Center VA LLC). WestDulles Station LLC, a joint venture between Dreyfuss Investments and Wells Holding Group, acquired the property. The buildings at Byrd Corporate Park were constructed between 1978 and 2003. At the time of sale, the industrial park was 80 percent leased to tenants such as McKesson, Fastenal, Wawa, CarMax and DPR.
