Discount retailer Harbor Freight Tools will significantly expand its South Carolina presence with an approximately one million-square-foot extension. This will bring the company’s total footprint in Dillon to three million square feet.

Harbor’s South Carolina operation is within the Carolinas I-95 Mega Site, a 3,400-acre industrial park between Dillon, S.C., and Latta, S.C. Here, South Carolina Ports Authority broke ground in March on an inland port operation…

Harbor Freight Adds 1 MSF to SC Hub

A joint venture between funds managed by Westport Capital Partners and Store Here Management has disposed of a 27-property self-storage portfolio across Colorado, Georgia, Indiana, Kansas, Louisiana and Texas. The portfolio totals 1.7 million square feet across 12,171 units.

Currently operating under the Store Here brand, the portfolio is 80.6 percent occupied and features amenities such as gate access, security cameras, climate-controlled or drive-up units, onsite management, as well as RV and surface parking. The properties are in eight MSA’s, including Colorado Springs, Colo.; Atlanta; Indianapolis; Kansas City, Kan.; Shreveport, La.; and Dallas, San Antonio and Austin, Texas…

Boeing sold I-90 Bellevue Campus to a joint venture between Walton Street Capital and Talon Private Capital. The 253,857-square-foot office property in Bellevue, Wash., changed hands for $35.8 million.

Located at 3076, 3156, 3255 and 3265 160th Ave. SE, the four-building asset was completed in phases in 1983, 1968 and 1991. The campus, which features more than 800 parking spaces, sits on roughly 20 acres near multiple bus stations, restaurants and hotels, including India Gate Restaurants, Embassy Suites by Hilton and Larkspur Landing…

Intervala, a high-tech electronics manufacturing company, signed a new 135,000-square-foot lease for the next five years with The Regional Industrial Development Corp. of Southwestern Pennsylvania. The firm will occupy three floors of the S Building within Keystone Commons in Turtle Creek, Pa., a location from where Intervala has been operating for more than 10 years. The new agreement allows for an additional five-year lease extension.

Frampton Construction Co. has appointed Chris Knight as director of the firm’s Charlotte, N.C., office. Knight assumes the role that was previously held by Keaton Green, who recently relocated to the company’s Charleston, S.C., office.

In this new role, Knight will be responsible for project acquisition, operations and delivery. Frampton Construction is a regional full-service construction firm that provides planning and design support, preconstruction, construction and sustainability services throughout the Carolinas…

Frampton Adds Director to Charlotte Office

A joint venture between Loews Hotels & Co., The Cordish Cos. and the Texas Rangers has broken ground on Live! by Loews – Arlington, TX, a $150 million hotel and convention center in Arlington’s new Texas Live! Entertainment District.

The flagship 14-story, 302-key hotel is part of the $4 billion vision for the entertainment district, which also includes the preservation of Globe Life Park and the Rangers new ballpark…

As an ever-growing and sought-after real estate market, Orlando is a hot spot for both domestic and foreign investors, who are drawn to the metro due to its combination of no state income taxes and year-round temperate weather. But in the current market conditions, developers are facing rising land costs, encouraging them to shift their focus to mixed-use developments, aiming to maximize economic value and minimize risk.

Colocation Northwest expands into the Puget Sound region, signing a lease for seven megawatts of mission-critical IT capacity in Centeris’ South Hill data center campus. The company stated that increasing customer demand for scalable colocation and disaster recovery services drove it to the Seattle region…

Colocation Northwest Inks 7mW in Seattle Metro

A majority of leasing decision makers say a lack of reliable internet connections is a factor affecting their office rentals, according to a study that cites a building’s connectivity as a top factor in evaluating future office space…

Does Internet Quality Impact Office Leasing Decisions?

Griffin Capital selected Transwestern to handle the property management duties for four office buildings in Las Vegas. Situated in the Spring Valley and Paradise submarkets, the assets total a little more than 390,000 square feet.

Located at 6355 S. Buffalo Drive, the 222,268-square-foot Class A building is Griffin’s largest office asset in the market. Completed in 2007, the three-story asset features more than 450 parking spaces. According to Yardi Matrix data, Griffin acquired the property in 2016 from Panattoni Development for $66.5 million. The other three assets are located at 840, 880 and 950 Grier Drive, next to the McCarran International Airport and Interstate 215. Griffin purchased the buildings in 2015 from CIP Real Estate for $33 million…

CBRE represented Green Griffith & Borg-Breen, an intellectual property law firm, in its office relocation to 676 N. Michigan Ave. in Chicago. The space encompasses 10,000 square feet and is located at one of the highest floors of the building.

“Law firms continue to be very active in Chicago and real estate has become a major differentiator in the competitive pursuit of top talent,” said CBRE Associate Dan Persa in a prepared statement…

M&T Bank and Natixis have teamed up to arrange a $195 million loan for SL Green Realty Corp. and PGIM Inc., to refinance 55 W. 46^th St., a 347,694-square-foot Class A office building in Midtown Manhattan.

M&T Bank served as administrative agent and Natixis is the co-lead on the senior loan that will provide capital to complete the lease-up of the building…

M&T Bank, Natixis Co-Lead $195M NYC Office Refi

The multi-tenant data center campus operated by T5 in Chicago is receiving an upgrade. T5@Chicago is one of T5’s nine purpose-built facilities in the U.S., featuring concurrently maintainable and fault-tolerant infrastructure. The company recently finished construction of another facility, T5@Dallas, on its campus in Legacy Business Park in Plano, Texas.

T5 will add two more megawatts of available data center capacity to the 208,000-square-foot building. Citing regional demand, the company provides a scalable solution to its potential tenants, maintaining the possibility of further expansion on the adjacent four-acre land parcel. T5@Chicago has 10 megawatts available for lease, spanning 66,000 square feet of isolated data halls…

Western Specialty Contractors promoted Kevin Rogers to manager of its Chicago Façades branch. Rogers has been with the company for four years and was advanced from a sales/project manager position. In his new role, Rogers will oversee sales, daily operations and personnel and he will also be in charge of developing façade restoration projects in the Chicago metropolitan area.

Apple Hospitality REIT Inc. has acquired two Residence Inn by Marriott Hotels for $81 million. The REIT bought the 179-key Residence Inn by Marriott Portland Downtown/Waterfront for $55.8 million, $311,500 per key and the 136-key Residence Inn by Marriott Salt Lake City Murray for $25.5 million, or $187,500 per key.

Ruth Group sold The Knox, a two-building office park in Torrance, Calif., to Wilshire Capital Investments. The 108,000-square-foot property changed hands for $21.6 million. At the time of sale, the asset was 98 percent occupied.

Located at 680 and 690 Knox St., within the Harbor Technology Center Business Park, the property sits at the intersection of interstates 110 and 405. The Knox offers easy access to multiple bus stations, restaurants and hotels, including Los Chilaquiles Mexican Grill, Holiday Inn and Extended Stay America. Completed in 1984, the two buildings underwent a major cosmetic renovation in 2016. Tenants include C.H. Robinson, Midmark Corp. and Allied Digital…

Cushman & Wakefield completed the upgrade process of its downtown Portland, Ore., office. Improvements include new design enhancements and amenities for a more technologically advanced and functionally efficient workplace.

Located at 200 SW Market St., between SW Second and Third streets, 200 Market was completed in 1973 and offers more than 400,000 square feet across 18 floors. After acquiring the property, Russell Development kicked off a $25 million reconstruction project in 1990. Russell Development and Cushman & Wakefield co-manage the building, both having offices on site. Building amenities include:

Houston’s industrial market has had a great year so far, and it seems that the good run will continue. Adding to the market’s success is Liberty Property Trust which announced the groundbreaking of two more buildings at its Port Crossing Commerce Center.

“We’re breaking ground on two new buildings—a 600,000-square-foot industrial building at S. 16th Street at Wharton Weems Boulevard, and a 104,000-square-foot industrial building along Highway 146 near the intersection of Wharton Weems Boulevard,”Liberty Property Trust Vice President Hans Brindley said in a prepared statement. “Interest in the two buildings is very high; we expect to bring both online in the second quarter of 2018.”…

NAI Hiffman arranged leases for four companies at Naperville Woods Office Center in Naperville, Ill. The agreements, totaling approximately 40,000 square feet, take the campus’ occupancy to 96 percent. The largest spaces, listed below next to the tenants’ names, are located on the second floor of one of the buildings that is part of the office complex.

• Equian, a financial health-care solutions firm; 19,585 square feet
• Gallagher Benefit Services Inc.; 14,150 square feet

Lat Purser & Associates will start construction on a two-story, 14,871-square-foot office building in Mount Pleasant, S.C. The asset will be anchored by financial planning firm Consolidated Planning, a majority investor in the project. The development team includes general contractor Choate Construction, Overcash Demmitt Architects and civil engineer Earthsource Engineering. South State Bank is providing financing for the project.

“Located in one of the fastest-growing submarkets in the country, 1034 Lansing Drive offers a convenient, central location and close proximity to neighborhood retail and restaurants,” said Adam Robinson, project developer at Lat Purser, in a prepared statement…

According to the latest Ten-X Commercial Real Estate Nowcast, the U.S. commercial real estate sector continued its valuation slump in October, with nationwide commercial pricing edging down by 0.2 percent—the sixth consecutive month of contraction for the index. The monthly pricing index combines Google Trends data, Ten-X Commercial’s proprietary transaction data, and investor surveys to track CRE pricing trends.

CBRE arranged the sale and financing of a Class A office tower totaling 226,376 square feet in downtown Fort Lauderdale, Fla. TA Realty sold the asset in an $81.5 million deal to a joint venture between Banyan Street Capital and Oaktree Capital Management, public records show. Metropolitan Life Insurance Co. originated $55.5 million in acquisition financing, scheduled to mature in 2027.

Terreno Realty Corp. completed the acquisition of an industrial property totaling approximately 38,000 square feet in Miami’s Airport West submarket. Floral Holdings LLC, an entity affiliated with a New Jersey-based floral distribution and logistics company, sold the asset in a $6.8 million deal, public records show.

STABILIZED ASSET

Located at 1480 NW 94^th Ave. in Doral, Fla., on a 3.3-acre site, the industrial distribution facility was completed in 1989 and is 100 percent occupied by one tenant. The property features 10 dock-high and one grade-level loading positions and provides 49 parking spaces. The estimated stabilized cap rate of the property is 5.4 percent…

Dermody Properties has acquired Meridian Campus Corporate Park, a 459,551-square-foot, three-building, Class A industrial park in Lacey, Wash., from the California State Teachers’ Retirement System.

The property, which is located just south of Seattle, also consists of 18 acres of land, which Dermody will develop into a new 318,028-square-foot distribution building. When completed, the facility will feature a 36-foot clear height and 80 trailer parking stalls…

CBRE brokered the sale of Monroe Business Park, a five-building mixed-use complex in the Oakhurst neighborhood of southeast Charlotte, N.C. Nova Capital Partners sold the property in a $6.8 million deal to an investment group affiliated with Charlotte-based Waters Inc. According to public records, South State Bank provided $4.6 million in acquisition financing to facilitate the transaction.

Plaza Del Sol, a 165,500-square-foot grocery-anchored shopping center in Burbank, Calif., has come under new ownership with the help of HFF. Acting on behalf of Tourmaline Capital, the commercial real estate and capital markets services provider sold the combination retail and industrial property to an undisclosed investor.

Originally developed in 1984, the property at 10950 Sherman Way operated as a Costco store until 2005, when it emerged from a retrofit as a mixed-use center featuring street-facing retail with an uncharacteristic offering in the back: industrial space. The investment community was more than a little intrigued…

Peapod is relocating from Skokie, Ill., to a new 53,000-square-foot space at 300 S. Riverside Plaza in downtown Chicago. The company expects to move all its current 220 employees from its offices in Skokie and the Civic Opera Building to the new location by April 2018. Colliers International represented the tenant in the lease while The Telos Group worked on behalf of the landlord, Third Millennium Group.

Brookwood Financial Partners has sold Brookwood Business Center, a 448,707-square-foot office/flex park located in Tewksbury and Billerica, Mass. The buyer was a joint venture between Condyne Capital Partners and a fund managed by Westport Capital Partners LLC. An acquisition loan financed by HarborOne Bank and Brookline Bank funded the sale.

BlackRock Real Assets has sold Pacific Corporate Towers, a 1.6 million-square-foot, Class A, multi-tenant office building and parking structure in El Segundo, Calif., to an institutional investor. Eastdil Secured worked on behalf of the seller in the transaction. Tenants include technology firm Nativo Inc., which relocated its headquarters to Pacific Corporate Towers at the beginning of this year.

“I’m very appreciative of the electric charging station. Most Class A office buildings offer this amenity and it is great that this building does as well.” —San Diego

“Working with surrounding communities to improve accessibility to the property with alternative means of transportation allows us to reduce our care use, which also results in a reduction of our carbon footprint.” —Golden, Colo…

Keeping CRE Sustainable

Private equity real estate manager Velocis acquired Two Sugar Creek, a 143,410-square-foot office property located in Sugar Land, Texas, a southwestern Houston suburb. HFF intermediated the transaction, representing the seller—TA Associates Realty. Terms of the transaction were not disclosed.

The 143,000-square-foot office development was 85 percent occupied at the time of the deal. Stream Realty Partners will handle the leasing and management responsibilities for Two Sugar Creek…

Velocis Annexes Two Sugar Creek to Its Office Portfolio

A rail-served Class A industrial development is set to break ground near the Houston Ship Channel. Behind the project is Houston-based Pontikes Development, which intends to deliver the first phase of the complex in the third quarter of 2018.

Raytheon Co., a technology and innovation company specializing in defense, civil government and cybersecurity solutions, opened a new facility in Albuquerque, N.M., in the Sandia Science and Technology Park, expanding its operations to develop and produce range monitoring and telemetry systems for the U.S. and its allies. The new 72,000-square-foot building is the company’s third facility in the metro and will bring 60 new high-tech manufacturing jobs to the state over the next six years.

A joint venture of Equus Capital Partners Ltd. and iStar Inc. has acquired McDowell Mountain Business Park, a Class A office complex in Scottsdale, Ariz., for $53.2 million. Mesa West Capital has funded a $42.6 million mortgage debt for the purchase of the asset. The property was sold by RAIT Financial Trust. CBRE led the negotiations between the buyer and the seller and arranged the loan from Mesa West Capital.

Terreno Realty Corp. completed the renovation and leasing of two industrial distribution buildings in San Leandro, Calif. Spreading over a 8.2-acre site, the 100,000-square-foot properties are located at 2062 and 2091 West Ave. 140^th.

A 68,662-square-foot asset was leased to a third-party logistics provider through January 2023, while the other 31,832-square-foot property was rented by an equipment rental company through April 2027…

Terreno Arranges 100 KSF San Leandro Lease

Monument Capital Management, a fully integrated real estate investment company, appointed José Gonzalez as chief financial officer. In this new role, Gonzalez will be responsible for directing all the firm’s financial operations and support activities, including accounting, investor reporting, human resources and IT. He will be based in Monument’s corporate offices in Miami…

Monument Adds New CFO to Miami Office

Redfin opened a new office in Chicago after signing a 6,250-square-foot lease at 112 S. Sangamon. The real estate company will occupy the entire top floor of the building, being the first office open in the city’s downtown. At the end of last year, Redfin tripled the space at its main Chicago location at 8725 W. Higgins Road near the O’Hare International Airport.

Cushman & Wakefield (C&W) arranged financing for Miami-based KAS Partners’ acquisition of Phoenix Business Park in Atlanta, and Kings Landing Office Center in Roswell, Ga. Senior Director Jason Hochman of C&W’s South Florida commercial team worked on behalf of the borrower in securing the loans.

SVN – Rich Investment Real Estate, a full-service commercial real estate brokerage firm, sold a 29,783-square-foot medical building located at 3180 Willow Lane in Westlake Village, Calif. Both sides of the transaction were represented by SVN – Rich Investment Real Estate’s partner, the Pacific Bridge Team of commercial real estate advisors, which consists of Jeff Albee, Travis Albee and Tilden Moschetti.

“With this sale, Willow Lane will be entirely renovated and will continue attracting top-tier medical professionals to serve the local community,” said Travis Albee, vice president of SVN’s Pacific Bridge Team, in prepared remarks…

CBRE Hotels arranged the sale of Holiday Inn Express & Suites, a 74-key, limited-service hotel in Bay City, Texas. Houston-based SNI 5618 Investment LP acquired the asset from San Antonio-based Baywood Hotels for an undisclosed price. The transaction marks the first hotel acquisition for the buyer, which owns several apartment properties in the Houston area.

L&L Holding Co. has added the final beam of steel to 390 Madison Ave., topping out the former 291-foot tall, 24-story office building to its new height of 32 stories and 373 feet.

The re-massed mid-20th century building now has eight additional floors and offers more than 860,000 square feet of space, according to Yardi Matrix. It is being further transformed into a sleek, light-filled tower featuring massive column-free spans, high ceilings, modern infrastructure, a new façade of transparent, floor-to-ceiling glass, and 13 outdoor terraces…

Foundry Commercial, a full-service real estate services and investment company, is relocating its Nashville office to The Pinnacle at Symphony Place, a 519,622-square-foot, Class A+ office tower in downtown Nashville, Tenn. The company, currently located in the city’s Cool Springs district, will occupy its new space on Dec. 1^st.

Colony NorthStar recently acquired a two-building Phoenix portfolio for $18.7 million—Reywest Commerce Center and Reywest Industrial Park. The properties are located at 3602 and 3555 W. Washington St., respectively.

At the time, the properties were 46 percent occupied. JLL’s Phoenix office completed a final lease, bringing both to full occupancy. The two firms have an ongoing relationship: JLL brokered the sale of another Phoenix industrial portfolio, for $39 million, earlier this year…

The recently released 90-page report “Real Trends: The Future of Real Estate in the United States” takes a wide-ranging look at factors that include immigration and an aging population.

Much of the report focuses on single-family housing, especially issues around affordable housing. Many of its most intriguing observations, however, are on where technology might be leading CRE. Written by Albert Saiz and Arianna Salazar of the Urban Economics Lab at the Center for Real Estate, Massachusetts Institute of Technology, the report was sponsored by Capital One Commercial Banking…

Months after opening a location in Houston, national co-working and flexible office space provider TechSpace Holding Co. will open its 10th campus in Arlington, Va. The firm will take up the entire eighth floor, or 20,000 square feet of space, at Two Liberty Center, a premier 177,429-square-foot office asset owned by The Shooshan Co. The location will be named TechSpace Arlington and is expected to open in June 2018.

Construction of a 260-acre mixed-use, master-planned community in Bakersfield, Calif., is scheduled to begin next year and will feature residential, retail, industrial and office space along with a luxury theater and hotel.

Newmark Knight Frank added two new hires to its Seattle office: Charlie Farra as managing director and Matt Betterman as associate director.

Prior to joining the company, Farra served as vice president for Colliers International for five years, where he specialized in tenant representation. He completed more than 1 million square feet of office leasing and sales. His clients included Dorsey & Whitney, Sonos, Blue Bird Bio and Alliant Insurance…

NKF Announces New Hires in Seattle

Colliers International appointed Jessica Sawyer, a former employee, executive vice president of operations. Sawyer used to be a vice president in the development and consulting services group before she decided to rejoin Colliers, following an absence of five years. She will be based in Boston and will oversee the firm’s operational activities, including finance and accounting, talent management, marketing and technology. The new executive vice president will be reporting directly to the CEO.

Related Fund Management acquired Pacific Center, a 306,765-square-foot, class A office building in Torrance, Calif. HFF’s Senior Managing Director Ryan Gallagher and Managing Director Andrew Harper procured the buyer and represented the seller, Stream Realty Partners, who recently expanded its property management portfolio in Pasadena, Calif.

The eight-story, state-of-the art building is situated at 21250 Hawthorne Blvd., at the intersection of Hawthorne and Torrance Boulevards across from the Del Amo Fashion Center and is exposed to State Route 107. Pacific Center is close to neighborhoods such as Palos Verdes, Rancho Palos Verdes, Rolling Hills Estates, Hermosa Beach and Manhattan Beach…

Clark Construction Group, part of the design-built joint venture team Prairie District 3 Partners, has delivered Wintrust Arena, a 300,000-square-foot facility in Chicago’s McCormick Square neighborhood.

The multi-purpose arena will open the weekend of Oct. 20-22 as part the Chicago Architecture Foundation’s Open House Chicago event. The arena will serve as home to DePaul University’s basketball teams, the WNBA’s Chicago Sky and serve as an entertainment venue for concerts and special events…