RALEIGH, N.C. — Trinity Partners has secured an 81,032-square-foot lease for WeWork, a shared office space provider, at One Glenwood, an $86 million office building under development in Raleigh. William Allen and Alex Dunn of Trinity Partners represented the building’s owner and developer, Heritage Properties Inc., in the lease transaction. Jason High and John Daly of CBRE represented WeWork. Upon completion, One Glenwood will total 227,500 square feet, including 15,000 square feet of..
ATLANTA — The Ardent Cos. has purchased five buildings within the 14-building Piedmont Center office park in Atlanta’s Buckhead district for $144 million. David Meline, Stewart Calhoun and Samir Idris of Cushman & Wakefield represented the seller, Northwestern Mutual, in the transaction. Gil Burstiner of Hartman Simons, a commercial real estate law firm, represented Ardent in the negotiations. KKR’s Real Estate Finance team financed the acquisition. Atlanta-based Ardent will invest in..
PEARLAND, TEXAS — GreenSpace Holdings LLC has broken ground on a three-story, 1,017-unit self-storage facility in the Houston metro of Pearland. Units will range in size from 25 to more than 300 square feet. Houston-based TMS Contractors LLC and Dallas-based Noble Alix served as the project’s design/build contractors. Texas Citizens Bank provided financing for the project. Construction is expected to be complete by early 2018. The facility, which will operate under the CubeSmart brand, was..
Restrictions on legal immigration would have negative repercussions for the real estate market, according to a report from The Counselors of Real Estate (CRE). The findings come from the organization’s list of the top 10 issues affecting real estate in 2017-2018, an annual report that predicts and interprets the issues and trends that will have the highest impact on those who own, live, develop and invest in real estate properties. Established in 1953 and headquartered in Chicago, the..
As we turn the page on another successful Manufactured Housing Institute National Congress and Expo, several themes are emerging. From the amount of capital in the market to the changes in the government agencies to continued reforms in financing for chattel, or homes, the industry of manufactured housing heads into the second half of 2017 with substantial momentum, thanks in part to a number of new entrants in the market. A few statistics shared at the conference reveal the interest in the..
Suing to appeal an unsatisfactory appraisal review board decision is straightforward in Texas. The state property tax system provides taxpayers with a pragmatic approach to air their valuation disputes before the courts, without the delay and headache frequently experienced in other types of litigation. Yet many taxpayers choose not to appeal, relinquishing the opportunity to achieve significant tax savings. Do not be so shortsighted. Texans enjoy one of the most fair property tax protest..
OPA-LOCKA, FLA. — Avison Young has arranged the sale of the Opa-locka Hialeah Flea Market and neighboring auto auction site for $80 million. The property comprises three parcels of land totaling over 72.1 acres — the 43.8-acre flea market located at 12691 and 12705 N.W. 2nd Ave., and the 28.3-acre auto auction site, Insurance Auto Auctions, located at 12700 N.W. Le Jeune Road. Michael Fay of Avison Young negotiated the transaction on behalf of the buyer, Gramercy Property Trust, and the..
NASHVILLE, TENN. — JE Dunn Construction has unveiled plans for a six-story, $120 million parking garage at Nashville International Airport, the first element of the airport’s $1.2 billion expansion plan. The project will replace an existing structure and provide 2,000 parking spaces, sensors to let drivers know what spaces are available and a passenger pick-up and drop-off hub for taxis, limos, shuttles and ride-sharing services. The garage will feature eco-friendly elements including an..
DALLAS — Apollo Global Management LLC will acquire Dallas-based ClubCorp (NYSE: MYCC), which owns and operates approximately 200 properties throughout the United States, Mexico and China, most of which are golf and country clubs, for $1.1 billion. Under the terms of the deal, Apollo will acquire all of ClubCorp’s outstanding shares for $17.12 per share in cash. The sale is expected to close during the fourth quarter.
HOUSTON — Arch-Con Corp. has completed construction of the Northwest Alliance Ministries (NAM) Harrell Family Opportunity Center, a 32,000-square-foot community center in Houston that will provide space for hosting career fairs, conferences and job training sessions. The two-story property features meeting rooms that can accommodate more than 300 people, a food preparation area and a new computer lab. NAM is a nonprofit social work agency that serviced 114,000 people in Houston last..