Property Type

Smoky-Hollow-Raleigh

RALEIGH, N.C. — Barings has provided a $134 million loan for the refinancing of Smoky Hollow, a mixed-use property located in Raleigh. Travis Anderson, Colby Mueck and Warren Johnson of JLL arranged the five-year loan on behalf of the owner, a joint venture between locally based Kane Realty Corp., Williams Realty & Building Co. and Lionstone Investments. Smoky Hollow was completed in 2020 and is located in the state capital’s Glenwood South neighborhood. The property comprises The Line, a 283-unit apartment community, as well as a 229,000-square-foot office building known as 421 North Harrington and roughly 40,000 square feet of retail and restaurant space. The Line features studio, one-, two and three-bedroom apartments and amenities such as a pool, clubroom, social lounge, coworking space, fitness center, outdoor grilling and dining stations and a package delivery room. The office building rises nine stories and offers bike storage space and multiple outdoor terraces. Food-and-beverage users at Smoky Hollow include barbeque restaurant Midwood Smokehouse, ice cream and tea concept Milklab and cocktail bar The Crunkleton. The retail component houses other wellness-based users, such as Dose Yoga & Smoothie Bar, JetSet Pilates and FastMed Urgent Care. “Smoky Hollow is well-positioned to benefit from Raleigh’s …

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11193-Emerald-St-Boise-ID

— By Devin Pierce, industrial specialist, TOK Commercial in Boise — In recent years, Boise’s industrial market has become a focal point for investors and developers drawn to the region’s economic growth and location. With demand for industrial space on the rise, the market has experienced an unprecedented wave of new construction aimed at meeting the needs of both local businesses and national tenants looking to expand their operations.  This surge in development activity reflects Boise’s growing prominence as a logistics and manufacturing hub. However, as new projects come online, the market is also grappling with the challenges of balancing supply and demand, particularly in the wake of fluctuating economic conditions. Speculative Construction Drives Vacancy Surge Boise’s industrial market saw a considerable number of projects completed during the first half of 2024, with more than 2.2 million square feet of new construction delivered. Speculative construction accounted for more than 86 percent of these projects, totaling nearly 2 million square feet and marking a record high for mid-year.  Top spec projects included nearly 1 million square feet at Red River Logistics Center; three new buildings (totaling 292,000 square feet) at Park84 in Nampa; and 396,000 square feet at Sky Ranch Logistics. This …

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Central-Texas-Logistics-Center-San-Marcos

SAN MARCOS, TEXAS — Houston-based investment firm Triten Real Estate Partners has purchased Central Texas Logistics Center, a 485,885-square-foot industrial property in San Marcos, roughly midway between Austin and San Antonio. The property comprises seven buildings on a 46-acre site that feature a mix of cross-dock, front- and rear-load configurations and an average suite size of 27,595 square feet, as well as office and showroom space. Central Texas Logistics Center was fully leased to 15 tenants at the time of sale. Dom Espinosa, Joshua Villarreal, Stephen Bailey, Dustin Volz and Zach Riebe of Newmark represented Triten and the undisclosed seller in the transaction.

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Midtown-905-Denton

DENTON, TEXAS — Vesper Holdings has acquired Midtown 905, a 432-bed student housing community located near the University of North Texas campus in Denton. Built in 2011, the four-story building offers fully furnished units in two-, three- and four-bedroom configurations with bed-to-bath parity. Shared amenities include a clubhouse, pool, game room and a coffee bar. Christopher Epp of Walker & Dunlop represented the undisclosed seller in the transaction. Gregg Wallace of AMA Financial and Geoff Smith of Walker & Dunlop placed acquisition financing for the new ownership, which also plans to invest $1.8 million in capital improvements to the property.

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BridgeLabs-at-Pegasus-Park-Dallas

DALLAS — A partnership between Montgomery Street Partners and J. Small Investments has completed Bridge Labs at Pegasus Park, a 135,000-square-foot life sciences development in northwest Dallas. The facility is part of Pegasus Park, which is a redevelopment of a 25-acre office campus that originally served as the home of Zale Corp., the parent company of jewelry retailer Zale. Campus amenities include a conference center, brewery, fitness center and outdoor dining and socialization spaces. Perkins + Will designed the project, and Swinerton served as the general contractor. JLL is the leasing agent for the broader campus, which the partnership owns in conjunction with Lyda Hill Philanthropies.

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FORT WORTH, TEXAS — Dallas-based brokerage firm Younger Partners has arranged the sale of a four-acre industrial development site on the east side of Fort Worth. The site at 2525 Handley Ederville Road offers proximity to both I-820 and State Highway 121 and formerly housed a 150,000-square-foot Advanced Foam Recycling facility. That property was destroyed in a fire in 2021, and the facility was subsequently razed. Michael Ytem of Younger Partners represented the seller, BridgeCap Partners, in the deal. Forrest Cook of Stream Realty Partners represented the buyer, an entity doing business as G-Catch LLC. The sales price and future plans for the site were not disclosed.

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HOUSTON — A partnership between two locally based firms, PAGEWOOD and Wile Interests, has welcomed three new office tenants to The Quad at Brittmoore, a four-building campus in West Houston that is a redevelopment of a former industrial park. Parker Noble and Matt Asvestas of Stream Realty Partners represented the partnership in all three lease negotiations. Noah Kruger of Savills represented global technology firm Homebase (10,588 square feet) in its lease negotiations, while Derick Perkins of Alpine Partners represented energy technology company Digital Wildcatters (4,829 square feet). Bryant Lach of JLL represented cloud technology services provider Siepe (4,451 square feet).

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Inspira-Health-Mullica-Hill-New-Jersey

MULLICA HILL, N.J. — Regional provider Inspira Health has broken ground on a $240 million medical center project in Mullica Hill, located outside of Philadelphia in Southern New Jersey. Designed by Array Architects, the five-story building will house 102 beds, boosting the hospital’s overall bed count by nearly 50 percent and increasing Inspira’s footprint to more than 600,000 square feet at the 100-acre Gloucester County campus. The development also includes a separate, one-story overbuild to house Inspira’s maternal health services practice. Other project partners include O’Donnell & Naccarato (structural engineer), Pure PM (project manager), TorconReisz (general contractor) and Highland Associates (MEP engineer). Completion is slated for early 2027.

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HAZLE TOWNSHIP, PA. — New Jersey-based intermediary G.S. Wilcox  Co. has arranged a $19.1 million loan for the refinancing of two warehouses in Hazle Township, located in the Lehigh Valley region. The buildings are located within Humboldt Industrial Park and total 220,500 square feet. Wesley Wilcox and Al Raymond of G.S. Wilcox arranged the seven-year, interest-only loan on behalf of the borrower, a partnership between The Lakhani Family Office and Saxum Real Estate. The direct lender was not disclosed.

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WILMINGTON, MASS. — JLL has negotiated a 32,493-square-foot industrial lease in the northern Boston suburb of Wilmington. The user, an unnamed snack food company, is taking space at Upton Crossing, a 215,000-square-foot campus. Joe Fabiano, James Lipscomb, Jordan Yarboro and Brian Tisbert of JLL represented the landlord, The Davis Cos., in the lease negotiations. Bart Anderson and Juliana Fiore of CBRE represented the tenant.

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