REBusinessOnline

Armada Hoffler Announces Two Mixed-Use Developments in Baltimore, Atlanta

BALTIMORE AND ATLANTA — Armada Hoffler Properties Inc. (NYSE: AHH), a commercial real estate developer and investor based in Virginia Beach, is participating in two new mixed-use projects in Baltimore and Atlanta. The REIT’s wholly owned subsidiary, Armada Hoffler Construction Co., will serve as general contractor for both developments. In Baltimore’s Inner Harbor East district, Armada Hoffler is developing Wills Wharf, a 12-story mixed-use building that will anchor the 27-acre Harbor …

Hines Buys Land in Northwest Houston, Plans 1.5 MSF Mixed-Use Development

HOUSTON — Hines has purchased 107 acres in northwest Houston from Maxaam Inc. with plans to build a new 1.5 million-square-foot mixed-use development. Houston-based Hines is currently completing design for the two-phase logistics park, now branded as Grand National Business Park. Situated at the corner of Sam Houston Tollway and Gessner Road near the Sam Houston Race Park, the project will include a logistics center, hotel and retail space. Phase I will consist of 500,000 square feet of …

RadioShack Partners with HobbyTown to Open 100 New Express Locations Nationwide

FORT WORTH, TEXAS AND LINCOLN, NEB. — Fort Worth-based RadioShack has partnered with Lincoln, Neb.-based retailer HobbyTown to open more than 100 new express stores nationwide. RadioShack will start by opening 60 locations of its store-within-a-store concept at HobbyTown stores across the country. The new express store will sell RadioShack-branded electronics. The move will bring RadioShack’s merchandise to several suburban markets. Founded in 1921, RadioShack is owned today by General …

REOC Development Breaks Ground on 60,000 SF Medical Office Building Near San Antonio

SPRING BRANCH, TEXAS — REOC Development LLC has recently broken ground on Singing Hills Professional Building, a three-story, 60,000-square-foot medical office building in Spring Branch. The property will be situated at U.S. Highway 281 and Harmony Hills Street, about 30 miles north of downtown San Antonio. Ambulatory Surgical Center (ASC) has leased space on the ground floor, and REOC’s brokerage firm affiliate REOC San Antonio is pursuing an imaging center provider for the remainder of …

Dougherty Provides $1.5M Acquisition Loan for Apartment Community in Kingsville, Texas

KINGSVILLE, TEXAS — Dougherty Mortgage has provided a $1.5 million Fannie Mae loan for the acquisition of South Park Estates Apartments in Kingsville. The borrower, AK Apartments LLC, has rebranded the 40-unit, market-rate multifamily community as Aviator Kingsville. Dougherty Mortgage and partner Old Capital provided the 12-year loan with a 30-year amortization schedule. AK Apartments has retained 3CM Multifamily to manage the

Lee & Associates Arranges 10,800 SF Industrial Lease in Dallas

DALLAS — Lee & Associates Dallas/Fort Worth has arranged a 10,800-square-foot industrial lease at 4656 Leston Ave., Suite 501 in Dallas. Bates & Myers Co. represented the tenant, First Choice Bargains, in the lease transaction. Phil Rosenfeld and Matt Thompson of Lee & Associates represented the landlord, Regal Business Center

Highwoods to Build Asurion’s $285M Headquarters Campus in Nashville, Creating 400 New IT Jobs

NASHVILLE, TENN. — Highwoods Properties Inc. (NYSE: HIW) plans to build a new $285 million headquarters campus in Nashville’s central business district (CBD) for Asurion, a privately held tech solutions firm. The Nashville-based company specializes in providing insurance and warranty plans covering mobile devices and other consumer electronics. Asurion will consolidate four of its existing local offices into the new campus, as well as create 400 new information technology jobs, according …

Jackson’s Retail Market on Cruise Control as It Drives Into Expansion Phase

It’s safe to say that the Jackson MSA, as a whole, responds slower to national trends than the vast majority of markets in the United States. In regards to the economic recovery, Jackson is about two years behind the national economy post-recession. The retail market is just now moving from the recovery phase and into the expansion phase of its growth cycle, which is evidenced by decreasing vacancy rates and stabilizing lease rates. [caption id="attachment_205078" align="alignright" …

Avison Young Receives $188.6M Equity Investment from Canadian Fund Manager to Grow Platform

TORONTO — Commercial real estate services firm Avison Young is continuing its growth strategy with a new equity investment totaling 250 million Canadian dollars (approximately $188.6 million) from Canadian pension fund manager Caisse de dépôt et placement du Québec (CDPQ). Toronto-based Avison Young will use the new capital to grow its operating platform in North America. “CDPQ’s investment will provide additional momentum as we accelerate our innovative and technology-based …

Atalaya Capital Closes $315M Construction Financing for New Ritz-Carlton Hotel in Manhattan

NEW YORK — Atalaya Capital Management, a private credit and alternative investment advisory firm, has recently closed $315 million in construction financing for The Ritz-Carlton’s new flagship hotel in Manhattan. Situated at the corner of 28th Street and Broadway, the 266-room hotel will span more than 50 stories and include 16 branded residences, 6,000 square feet of meeting space and high-end food and beverage options. This project will be the first ground-up hotel construction in …

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