Portland’s Office Market Continues its Evolution

By Mike Holzgang and Brad Christiansen, Executive Vice Presidents, ColliersPortland is seeing a number of employers reassess their post-pandemic workplace. Generally, this translates to companies downsizing to account for hybrid work models, with smaller/shared workstations and more conferencing space. New development has slowed in anticipation of an increased interest rate environment, historically high construction costs and supply chain constraints. Construction timelines are protracted …

August 5, 2022Market Reports, Office, Oregon, Western, Western Market Reports

Solomon Organization Sells Three Apartment Communities in Metro Charlotte for $173.5M

CHARLOTTE AND MATTHEWS, N.C. — The Solomon Organization has sold a three-property multifamily portfolio in metro Charlotte for $173.5 million. The garden-style assets include Waterford Hills Apartments, a 270-unit property that was built in 1995 at 6219 Waterford Hills Drive in Charlotte; Mission Matthews Place a 392-unit community built in 1994 at 2100 Woodway Hills Drive in Matthews; and Matthews Pointe, a 100-unit property built in 1986 at 2100 Woodway Hills Drive in Matthews. Kevin Kempf, …

August 2, 2022Acquisitions, Multifamily, North Carolina, Southeast

Meridian, Wickshire Break Ground on 1 MSF Industrial Facility in Winchester, Virginia

WINCHESTER, VA. — The Meridian Group and Wickshire Industrial have broken ground on Phase I of One Logistics Park, a 2.7 million-square-foot industrial campus located near I-81 in Winchster. The first phase comprises a 1 million-square-foot, cross-dock facility that will feature 40-foot clear heights, 50- by 54-foot column spacing, tilt-wall construction, 65-foot speed bays, 250 trailer drops and 230 parking spaces. At full buildout, the 277-acre One Logistics Park will feature distribution …

August 2, 2022Development, Industrial, Southeast, Virginia

Cushman & Wakefield Brokers Sale of Selano at Bridge Street Apartments in Huntsville

HUNTSVILLE, ALA. — Cushman & Wakefield has brokered the sale of Selano at Bridge Street, a 244-unit apartment community in Huntsville. California-based Steadfast Cos. purchased the community from Connecticut-based Twenty Lake Holdings for an undisclosed price. Craig Hey and Andrew Brown of Cushman & Wakefield represented the seller in the transaction. Selano at Bridge Street serves at the multifamily component of Bridge Street Town Centre, a mixed-use development comprising hotels, offices …

August 2, 2022Acquisitions, Alabama, Multifamily, Southeast

Tricera Capital Signs New Tenants at The Press Mixed-Use Project in West Palm Beach

WEST PALM BEACH, FLA. — Tricera Capital has signed new office and retail tenants to join The Press, a mixed-use redevelopment of the former Palm Beach Post campus in West Palm Beach. The project comprises two components: the 120,000-square-foot Shops at the Press and the 136,000-square-foot Workspaces at the Press. The new tenants, which combined will occupy 68,000 square feet, include Salons by JC, interior design firm Calico, health concept Restore Hyper Wellness, Raw Juice, self-storage …

August 2, 2022Development, Florida, Leasing Activity, Mixed-Use, Office, Restaurant, Retail, Southeast

Franklin Street Arranges $8.4M Sale of CVS-Anchored Retail Center in Atlanta

ATLANTA — Franklin Street has arranged the sale of Parkwood Shops, a 20,397-square-foot retail strip center located at 2014 SE Powers Ferry Road in Atlanta’s Cumberland-Galleria submarket. SITE Centers purchased the center from Ronus Properties for $8.4 million. Bryan Belk and John Tennant of Franklin Street represented the seller in the transaction. CVS/pharmacy anchors the property, which was fully leased at the time of sale to tenants including Boston Market, Jersey Mike’s, Planet …

August 2, 2022Acquisitions, Georgia, Restaurant, Retail, Southeast

Hillwood Breaks Ground on Two Spec Industrial Buildings Totaling 1.7 MSF in Fort Worth

FORT WORTH, TEXAS — Hillwood has broken ground on Westport 25 and Alliance Center North 4, two speculative industrial buildings totaling approximately 1.7 million square feet at AllianceTexas on the north side of Fort Worth. Alliance Westport 25 will be a cross-dock building with 40-foot clear heights, two 190-foot truck courts with land to expand to a third, 504 car parking spaces (expandable to 584) and 233 trailer parking spaces (expandable to 471). Alliance Center North 4 will also …

August 2, 2022Development, Industrial, Texas

Morgan Properties Acquires Two Midwest Multifamily Portfolios for $410M

ILLINOIS AND INDIANA — Morgan Properties has acquired two multifamily portfolios totaling eight communities and 2,986 units in Illinois and Indiana for $410 million. With the addition of these new assets, Morgan Properties now owns and operates 2,035 units in Illinois, 3,692 units in Indiana and more than 95,000 units nationwide.The Illinois portfolio consists of The Lakes of Schaumburg in Schaumburg, Blackhawk Apartments in Elgin and The Gates of Deer Grove in Palatine. The Indiana …

August 2, 2022Acquisitions, Illinois, Indiana, Midwest, Multifamily

Habitat Co., P3 Markets Top Out $100M Mixed-Income Apartment Project in Chicago

CHICAGO — The Habitat Co. and P3 Markets have topped out construction of the first building at 43 Green, a $100 million mixed-income apartment development in Chicago’s Bronzeville neighborhood. Centered around the Chicago Transit Authority’s 43rd Street Green Line station, the project represents the first equitable transit-oriented development (ETOD) on Chicago’s South Side. The project will be developed in three phases and ultimately bring 300 new apartments to the neighborhood.The …

August 2, 2022Affordable Housing, Development, Illinois, Midwest, Multifamily

Zilber Property Group to Build 1.6 MSF Industrial Park in Caledonia, Wisconsin

CALEDONIA, WIS. — Zilber Property Group has acquired a 93-acre land site with plans to build a new industrial park in Caledonia, about 20 miles south of Milwaukee. Named Caledonia Corporate Park, the project will be comprised of up to five speculative industrial buildings totaling approximately 1.6 million square feet. The development will be situated along the I-94 Corridor. Site preparation and infrastructure work will begin shortly, with construction expected to commence in the spring. …

August 2, 2022Development, Industrial, Midwest, Wisconsin