CHEROKEE COUNTY, S.C. — A joint venture between GTIS Partners and Collett Industrial has acquired a 107-acre site located on Tribal Road in Cherokee County, midway between Charlotte and Greenville, S.C. Plans for the site include the development of 850,000 to 930,000 square feet of industrial warehouse space across two phases. Phase I will comprise a 200,000- to 225,000-square-foot rear-load building, and Phase II will include either a single 510,000-square-foot cross-dock building or two rear-load buildings totaling roughly 423,000 square feet. GTIS and Collett also plan to widen and implement improvements to a portion of Tribal Road. Construction is scheduled to begin in February 2024.
HALLANDALE BEACH AND MIAMI GARDENS, FLA. — T.D. Jakes Real Estate Ventures (TDJREV) and New Urban Development will build two affordable housing communities in South Florida. Located in Hallandale Beach, the first property will comprise 200 mixed-income multifamily units on five acres. The groundbreaking is scheduled for the first quarter of 2024. The second community will be located in Miami Gardens, adjacent to the Miami Gardens Senior Family Center. Upon completion, the development will feature 150 affordable senior living units on seven acres. Amenities will include a clubhouse and walking trails. A timeline for the project was not disclosed.
HUNTSVILLE, ALA. — General contractor Jim Chapman Construction Group (JCCG) has broken ground on Nestledown Farm, a build-to-rent (BTR) residential community in Huntsville. Upon completion, the development will feature 201 attached townhomes in two- and three-bedroom layouts ranging from 1,020 to 1,466 square feet. Amenities at the community will include a 4,000-square-foot clubhouse, swimming pool, fitness center, dog park, illuminated sidewalks, gated entrance and 24-hour emergency maintenance services. Move-ins are scheduled to begin in fall 2024.
DALLAS — Locally based hospitality development firm Sava Holdings has purchased Stemmons Towers, a 285,312-square-foot office complex in West Dallas, with plans to convert the property to multifamily use. Stemmons Towers consists of two 12-story buildings that were originally developed in the 1960s by Trammell Crow and John Stemmons, and Sava plans to add a 13th floor to each building as part of the project. The 13-acre site also includes open space for a residential pocket park and greenbelt area. Sava will rebrand the property as Lumiere. Construction is scheduled to begin in mid- to late 2024. John St. Clair and Trae Anderson of Dallas-based brokerage firm Younger Partners represented the seller in the disposition of the property.
TOMBALL, TEXAS — Accelerated Solutions Group, a supplier of automotive accessories, has opened an 80,000-square-foot manufacturing facility in the northwestern Houston suburb of Tomball. The company plans to hire about 50 people to work at the facility. The seven-acre site is located within Interchange 249, a 250-acre development that comprises 3.1 million square feet across 10 buildings. Powers Brown Architecture designed the facility, which features 30-foot clear heights and 100 parking spaces. A partnership between Houston-based Lovett Industrial and New York-based Clarion Partners owns Interchange 249.
EL PASO, TEXAS — CBRE has brokered the sale of 5 Points Plaza Shopping Center, a 23,300-square-foot retail property in El Paso. The center, which was vacant for the previous two decades, is currently in the midst of being renovated and will have a new anchor tenant, Mexican restaurant Morra Mia, beginning in the second quarter of next year. Rebecca Rojas of CBRE, who serves as the leasing agent, represented the buyer, an entity doing business as 2900 Pershing LLC, in the transaction. The seller was not disclosed.
HOUSTON — Locally based developer Levcor has added five new tenants at MarqE Entertainment Center in West Houston. Experiential concepts Sloomoo Institute and Immersive Gamebox now occupy 23,000 square feet and 3,404 square feet, respectively. Glownar Aesthetics has signed a 1,200-square-foot lease, while restaurants Aviator Pizza & Drafthouse and Seaside Poke have committed to 4,504 and 1,600-square-foot spaces, respectively. Regal Cinemas also recently completed renovations to its 23-screen cinema at the center.
DALLAS — Global architecture firm Arcadis has signed a 19,605-square-foot office lease at 300 S. Pearl St., a mixed-use building in downtown Dallas. The building consists of 336 apartments, 200,000 square feet of office space and 25,000 square feet of retail space. Robbie Baty, Dean Collins and Alexandra Boury of Cushman & Wakefield represented the tenant in the lease negotiations. Ben Davis, Jackie Marshall and Fletcher Cordell of CBRE represented the landlord, Todd Interests.
MANCHESTER, PA. — JLL has arranged the $110.2 million sale of a 1 million-square-foot warehouse located at 84 Zions View Road in the Central Pennsylvania community of Manchester. Built on 102 acres in 2019, the cross-dock distribution facility features a clear height of 36 feet, three drive-in doors, 88 dock doors, 126 trailer stalls and 455 parking spaces. John Plower, John Huguenard, Ryan Cottone, Zach Maguire, Jordan Schwartz, Jeff Lockard and Maria Ratzlaff of JLL brokered the deal. The buyer and seller were not disclosed. The building was fully leased at the time of sale.
MARLBOROUGH, MASS. — CBRE has brokered the $74 million sale of Talia, a 225-unit apartment complex located in the western Massachusetts suburb of Marlborough. Talia offers one-, two- and three-bedroom units that are furnished with stainless steel appliances, quartz countertops and individual washers and dryers. Amenities include a fitness center, business center, outdoor grilling and dining stations, a pet spa, game room, coffee bar, courtyard and walking/jogging trails. Simon Butler, Biria St. John, John McLaughlin and Brian Bowler of CBRE represented the seller, a partnership between Fairfield Properties and an unnamed institutional investor, in the transaction. The buyer was a fund advised by regional investment firm The DSF Group.