Property Type

H&R REIT, Urban-X Receive Approval for 28-Story MidRiverVu Apartment Tower in Miami

by John Nelson July 18, 2024

MIAMI — Canada-based H&R REIT and Miami-based Urban-X Group have received approval from the City of Miami’s Planning, Zoning and Appeals Board for MidRiverVu, a 28-story apartment tower. The 475-unit, market-rate community will be situated on a 2-acre site at 1411 N.W. North River Drive in Miami’s MidRiver district, which is west of the downtown area. The property represents an expansion of the River Landing Special Area Plan (SAP) as it will be located directly north of the existing River Landing Shops & Residences, also owned by the REIT and co-developed with Urban-X. Sustainable features of MidRiverVu will include rain gardens, intensive and passive green roofs and decks and blue-green systems to control and slow runoff. The construction timeline and planned amenities for the tower were not disclosed.

July 18, 2024

Development Industrial South Carolina Southeast

Magnus Development Completes 210,600 SF Industrial Facility Near Columbia, South Carolina

by John Nelson July 18, 2024

BLYTHEWOOD, S.C. — Magnus Development Partners has completed Access 77, a 210,600-square-foot speculative industrial facility in Blythewood, a city near Columbia in Richland County. Situated near I-77, the property is located adjacent to the Scout Motors facility underway and within Northpoint Industrial Park, a county-owned park spanning 340 acres and housing companies including Coca-Cola, Constantia, Koyo and Spirax Sarco. Access 77 is a tilt-up facility that can house a single or multiple users. Features include a minimum clear height of 32 feet, 54- by 50-foot bay spacing, 130-foot truck court, LED lighting, trailer parking, 13 dock doors (expandable to 48) and two drive-in doors. Chuck Salley, Thomas Beard and John Peebles of Colliers are marketing Access 77 for lease.

July 18, 2024

Acquisitions Multifamily Southeast Tennessee

Lion Real Estate Group Acquires 312-Unit Bradford Woods Apartments in Nashville

by John Nelson July 18, 2024

NASHVILLE, TENN. — Lion Real Estate Group (LREG) has acquired Bradford Woods, a 312-unit apartment community located at 5242 Edmondson Pike in Nashville. The seller and sales price were not disclosed. Walker & Dunlop’s Nashville office brokered the transaction, which included LREG assuming an existing Fannie Mae loan. LREG plans to rebrand the property as The Grove Brentwood and completely overhaul the leasing office/clubhouse, gym, pool area and all other onsite amenities. Additionally, the company plans to modernize unit interiors with stainless steel appliances, quartz countertops and upgraded lighting. The Grove Brentwood is LREG’s fourth acquisition in its current investment vehicle and 26th property overall in its portfolio that spans across five states.

July 18, 2024

Development Georgia Leasing Activity Retail Southeast

Ace Hardware Opens 5,000th US Store in Roswell, Georgia

by John Nelson July 18, 2024

ROSWELL, GA. — Hardware retail chain Ace Hardware has opened its 5,000th domestic store. Dubbed Fixit Ace Hardware, the store is located in Roswell, roughly 20 miles north of Atlanta. Additionally, the Oak Brook, Ill.-based retailer opened its 100th new store of the year in Henderson, Nev., last month. Ace Hardware, which operates more than 5,800 outposts globally, plans to open an additional 200 stores by the end of this year, which marks 100 years of business for the brand.

July 18, 2024

Acquisitions Massachusetts Northeast Retail

CBRE Arranges $23M Sale of Shopping Center in Weymouth, Massachusetts

by Taylor Williams July 18, 2024

WEYMOUTH, MASS. — CBRE has arranged the $23 million sale of Riverway Plaza, a 250,000-square-foot shopping center in Weymouth, a southern suburb of Boston. Lowe’s Home Improvement anchors the center, which sits on 23 acres. Other tenants include Michael’s, Dollar Tree and Staples. Nat Heald and Jordana Roet of CBRE represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

July 18, 2024

Development Multifamily New York Northeast

Skyline Developers Tops Out 97-Unit Multifamily Project in Midtown Manhattan

by Taylor Williams July 18, 2024

NEW YORK CITY — New York City-based Skyline Developers has topped out a 97-unit multifamily project at 18 W. 55th St. in Midtown Manhattan. Designed by Morris Adjmi Architects, the building rises 25 stories and spans 152,000 square feet, including 10,000 square feet of amenities and 5,265 square feet of retail space. Construction began in mid-2023, and delivery is slated for 2025. Goldman Sachs financed construction of the project.

July 18, 2024

Acquisitions Industrial New York Northeast

Realterm Acquires Industrial Outdoor Storage Facility in Valley Cottage, New York

by Taylor Williams July 18, 2024

VALLEY COTTAGE, N.Y. — Maryland-based investment firm Realterm has acquired an industrial outdoor storage facility in Valley Cottage, located just across the New York-New Jersey border. The 37,560-square-foot facility was built on a 5.4-acre site in 2009 and consists of a seven-bay, drive-thru maintenance facility, a concrete storage yard and office spaces. Realterm plans to implement a value-add program. The seller was not disclosed.

July 18, 2024

Healthcare Leasing Activity New Jersey Northeast Retail

Abra Health Signs 24,908 SF Retail Sublease in Secaucus, New Jersey

by Taylor Williams July 18, 2024

SECAUCUS, N.J. — Abra Health has signed a 24,908-square-foot retail sublease in Secaucus. The operator of pediatric primary care and dental clinics is backfilling a space previously occupied by The Vitamin Shoppe and will utilize the space to centralize its billing operations and establish a call center. Jeff Kolodkin and Andrew Kirshenbaum of Newmark represented Abra Health in the lease transaction.

July 18, 2024

Acquisitions California Multifamily Western

Dinerstein Cos. Sells Millennium PQ Multifamily Community in San Diego for $167M

by Amy Works July 18, 2024

SAN DIEGO — The Dinerstein Cos. has completed the disposition of Millennium PQ, a multifamily property located in San Diego’s Rancho Penasquitos neighborhood, to GID Real Estate Investments for $167 million, or $504,532 per unit. Millennium PQ features 331 apartments with high-end finishes and resort-style amenities in a low-density, garden-style setting. Hunter Combs led the Walker & Dunlop investment sales team that represented the seller and buyer in the transaction.

July 18, 2024

Acquisitions California Multifamily Western

Gelt Venture Partners Buys Rancho Hills Apartments in Vista, California for $53.5M

by Amy Works July 18, 2024

VISTA, CALIF. — Gelt Venture Partners has purchased Rancho Hills Apartments in Vista, approximately 40 miles north of San Diego. An undisclosed party sold the asset for $53.5 million. The 148-unit apartment community is located at 856 Heatherwood Lane. Built in 1986, the garden-style property features 10 two-story buildings on 7.3 acres. The community includes a mix of 56 one-bedroom units and 92 two-bedroom units with floor plans ranging from 553 square feet to 909 square feet. Recently upgraded apartments include washers/dryers, quartz countertops, stainless steel appliances and private balconies/patios. On-site amenities include a clubhouse, fitness center, pool, spa and a gas barbecue area. Rachel Parsons, Derrek Ostrzyzek and Mike Murphy of CBRE represented the buyer and seller in the deal.

July 18, 2024

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