DAKOTA DUNES, S.D. — Architecture, engineering, environmental and planning firm ISG has opened a new office in Dakota Dunes within southeast South Dakota. Months after establishing a presence in Pierre, ISG says the expansion enhances its ability to serve communities across the state and the broader Siouxland region encompassing Iowa and Nebraska. ISG is currently engaged in several projects and partnerships in Dakota Dunes while the local team enhances the firm’s expertise in refrigeration and industrial food. A ribbon cutting and open house for the new office will take place Thursday, Aug. 22. ISG maintains offices in Iowa, Minnesota, Wisconsin, South Dakota and Arkansas.
By Ben Eisenberg of Transwestern In 2023 and continuing into 2024, Miami’s industrial sector experienced moderate growth due to reduced lease turnover and despite accelerating interest rates and economic uncertainty. However, the market’s strong industrial fundamentals and international connectivity via Miami International Airport and PortMiami continue to demonstrate its enduring strength and resilience. Miami’s industrial market is powered by freight, logistics and e-commerce demand, along with traditional distribution, service and light assembly. The region continues to experience steady population growth that drives sustainable consumption of goods and services and, ultimately, the need for warehouse space. Accounting for nearly 27 percent of Florida’s overall population, Miami was home to more than 6.2 million people at the end of 2023 and is projected to grow to 6.3 million this year. The region’s population has expanded by nearly 7.6 percent over the past 10 years. Increased migration to the Sun Belt has boosted wealth, disposable income and consumption, making Miami one of the nation’s wealthiest metro areas, with some of the highest average home values. In the first quarter of 2024, Miami’s unemployment rate reached a record low of 1.5 percent and has remained below 2 percent since the fourth-quarter 2022. The region’s …
FAYETTEVILLE, ARK. — An affiliate of Cohen & Steers has acquired a two-property, open-air shopping center complex located in Fayetteville, a city in the northwest portion of Arkansas near the Oklahoma and Missouri borders. Totaling 403,000 square feet, the complex comprises the retail centers Spring Creek Centre and Steele Crossing. Tenants at the properties include T.J. Maxx, Ulta Beauty, Best Buy, Old Navy, PetSmart and Kohl’s. The centers also feature corporately owned Walmart, Home Depot and Target stores. At the time of sale, the centers were 95 percent occupied. DLC Management partnered with Cohen & Steers on the acquisition. The seller and price were not disclosed. “Fayetteville is benefiting from national migration trends as people move to more affordable and economically attractive residential areas across the country,” says James S. Corl, head of the private real estate group at Cohen & Steers. “We believe the shopping centers are well positioned in a dominant location to benefit from these tailwinds, and we are excited to partner with DLC.” Prior to the acquisition, DLC served as the manager of both Spring Creek Centre and Steel Crossing for more than a decade. Headquartered in metro New York City, the company’s portfolio features more …
FORT LAUDERDALE, FLA. — Centennial Bank has provided an $84.4 million loan for the construction of The Arcadian, a mixed-use affordable housing project underway in Fort Lauderdale. Sunshine Shipyard LLC, an affiliated company of a joint venture between Fuse Group and Boca Paila, is the developer and borrower. Located at 640 N.W. 7th Ave., the property will comprise an eight-story tower with 478 residential units, as well as 15,000 square feet of retail space and a 212,000-square-foot parking garage. Amenities will include swimming pools, a central atrium, fitness center, indoor pickleball court, outdoor movie theater, playground, business center, kid’s room, lounge area, pet park, pedestrian paseo and club rooms. Completion is scheduled for early 2026.
LAKE PARK, FLA. — DXD Capital has completed the development of a self-storage facility located in Lake Park, a suburb of Palm Beach. Located at 1450 Watertower Road, the South Florida property totals 77,150 square feet of rentable square feet across 738 individual units. DXD acquired the property in July 2022 through the DXD Self Storage Fund I, which was launched in November 2020. Public Storage operates the facility.
APOLLO BEACH, FLA. — SRS Real Estate Partners has brokered the $5 million sale of a newly developed retail property located at 6598 N. U.S. Highway 41 in Apollo Beach, a Tampa Bay City situated about 18 miles south of Tampa. Two tenants, GoodVets and First Watch, fully occupy the building, which totals 7,000 square feet. Patrick Nutt, William Wamble and Daniel Becker of SRS represented the Florida-based seller in the transaction.
CHARLOTTE, N.C. — Olde Mecklenburg Brewery (OMB) will open a new restaurant and biergarten venue at 15025 Bowl St. at The Bowl at Ballantyne, a mixed-use development underway in Charlotte’s Ballantyne district. In addition to a 14,000-square-foot building comprising two levels of restaurant, retail and balcony space, the property features a one-acre biergarten and two freestanding buildings with beverage service and bathrooms. This marks the second location for OMB, with the original location in Charlotte’s LoSo neighborhood. Northwood Retail, the landlord of The Bowl at Ballantyne and an affiliate of Northwood Investors, recently signed a lease with Hawkers Asian Street Food to join the tenant roster in early 2025.
METAIRIE, LA. — Seven new tenants have signed leases totaling 35,589 square feet at Lakeway Center, a 1.2 million-square-foot office development located in Metairie, roughly six miles outside downtown New Orleans. Expeditors International, Elliot Bay Design Group and Fleur de Lis Event Designs will join the One Lakeway building occupying 3,473; 2,274; and 1,254 square feet, respectively. Ardurra Group, Sisun and Guilbault Capital have signed leases for 6,144; 6,874; and 1,703 square feet at Two Lakeway, respectively. At Three Lakeway, Array Petroleum has signed a 12,867-square-foot lease. The Feil Organization is the landlord of Lakeway Center, which features amenities including a health club, restaurant, café, coffee shop, copy shop, conference center and a sundry shop. A Marriott hotel is also located at the property. Bruce Sossaman of Corporate Realty represented the landlord in all seven lease transactions.
ROUND ROCK, TEXAS — A joint venture between Waramaug Hospitality and Franklin Real Asset Advisors has purchased the Austin Marriott North, a 295-room hotel located north of the state capital in Round Rock. The property’s accommodations include a number of suites, and the amenity package comprises a pool, fitness center, meeting and event space, convenience store, gift shop and an onsite restaurant. The seller and sales price were not disclosed.
AUSTIN, TEXAS — Los Angeles-based investment firm Stockdale Capital Partners has acquired a five-story, 129,382-square-foot medical office building in Austin’s Mueller District. According to LoopNet Inc., the building at 1401 Philomena St. was originally constructed in 2022. The property also includes an attached 559-space parking garage. The seller and sales price were not disclosed.