Property Type

Toyota to Invest $8B in North Carolina Battery Manufacturing Facility

by John Nelson November 3, 2023

LIBERTY, N.C. — Toyota has announced plans to invest an additional $8 billion in Toyota Battery Manufacturing, North Carolina (TBMNC), an advanced manufacturing campus currently underway in Liberty, roughly 23 miles outside Greensboro. Toyota’s investment in the facility, which is expected to create more than 5,000 jobs, now totals roughly $13.9 billion. Scheduled to begin production in 2025, the facility will develop and produce batteries for use in electric vehicles. The new investment will allow for the addition of eight battery production lines, bringing the total to 10. The project, which was initially announced in 2021, will total 7 million square feet.

November 3, 2023

Acquisitions North Carolina Retail Southeast

Northmarq Brokers $4.3M Sale of Retail Property in Metro Asheville

by John Nelson November 3, 2023

BREVARD, N.C. — Northmarq’s Atlanta office has brokered the $4.3 million sale of Shoppes at Brevard Place, a retail property located in Brevard, roughly 30 miles southwest of Asheville. Built in 2020, the property totals 11,801 square feet. Tenants at the center, which was 76 percent occupied at the time of sale, include Starbucks Coffee, Jersey Mike’s, Salsarita’s, Mommy & Me and AT&T. Billy Benedict of Northmarq represented both the buyer and seller in the transaction.

November 3, 2023

Acquisitions Multifamily Southeast Tennessee

Colliers Arranges Acquisition Financing for Multifamily Portfolio Totaling 56 Units in Chattanooga

by John Nelson November 3, 2023

CHATTANOOGA, TENN. — Colliers Mortgage has arranged financing for the acquisition of a two-property multifamily portfolio totaling 56 units in Chattanooga. The properties include Richwood Townhomes and Seminole Pathe. Located at 918 Donaldson Road, Richwood Townhomes was built in 1968 and comprises 24 units throughout four two-story buildings. Seminole Pathe features 32 units within one three-story building, as well as a one-story single-family residence that functions as a duplex. Built in 1925, the property is situated at 302 Dunlap Ave. The financing included the assumption of an existing Fannie Mae mortgage loan, as well as an additional Fannie Mae supplemental loan. Zach Shope of Colliers Mortgage’s Atlanta office secured the financing on behalf of the borrower, an entity doing business as East Ridge Flats and Townhomes LLC.

November 3, 2023

Company News Florida Retail Southeast

Sembler Co. Founder Mel Sembler Dies at 93

by John Nelson November 3, 2023

ST. PETERSBURG, FLA. — Mel Sembler, founder of St. Petersburg-based retail real estate development firm The Sembler Co., has passed away at the age of 93, according to a statement from the company. Sembler founded his eponymous real estate company in 1962. To date, it has completed more than 350 developments totaling 29 million square feet. Additionally, the company manages and leases 10 million square feet of retail real estate and has offices in St. Petersburg, Atlanta and Puerto Rico. In a prepared statement, The Sembler Co. stated “his indelible mark will continue to guide us as we honor his legacy. He was the truest friend and leader to all.” Currently, The Sembler Co.’s portfolio includes Belmont Shopping Center in Ruskin, Fla., and North Macon Plaza in Macon, Ga. Sembler is also underway on the development of The Preserve Marketplace in Odessa, Fla., and West Villages Marketplace in Venice, Fla. In metro Atlanta, the company developed The Prado in 2008 and Town Brookhaven in 2010. The retail centers total 345,000 and 441,217 square feet, respectively. Sembler also previously served as U.S. Ambassador to Australia and Nauru from 1989 to 1993 and to Italy from 2001 to 2005. He also served …

November 3, 2023

The-Great-290-Distribution-Center-Houston

Development Industrial Leasing Activity Texas

Daikin Comfort Technologies Leases 500,840 SF of Industrial Space in Northwest Houston

by Taylor Williams November 3, 2023

HOUSTON — HVAC systems provider Daikin Comfort Technologies has leased 500,840 square feet of industrial space at The Great 290 Distribution Center, a newly built facility located near the intersection of The Grand Parkway and I-290 in northwest Houston. Designed by Powers Brown Architecture, The Great 290 Distribution Center occupies 41 acres within a 64-acre site, allowing tenants additional space for outdoor trailer parking or materials storage. Nathan Wynne and Jason Dillee of CBRE represented the landlord, locally based developer Pagewood, in the lease negotiations. Seth Koschak, Tyler Maner and Heath Donica of Stream Realty Partners represented the tenant, which will occupy the entirety of the building.

November 3, 2023

Acquisitions Multifamily Texas

IPA Brokers Sale of 211-Unit Apartment Complex in Mansfield, Texas

by Taylor Williams November 3, 2023

MANSFIELD, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of The Audrey, a 211-unit apartment complex in Mansfield, a southern suburb of Fort Worth. Built in 2021, the property offers one- and two-bedroom units with an average size of 923 square feet. Amenities include a pool, fitness center, business center, clubhouse and outdoor grilling and dining stations. Joey Tumminello, Taylor Hill, Michael Ware, Jeff Kindorf and Will Balthrope of IPA represented the seller, a partnership between Carleton Cos. and M.R. Development, in the transaction. The team also procured the buyer, a partnership between RPM and a fund managed by Roseview Investment Advisors.

November 3, 2023

Development Leasing Activity Retail Texas

Levcor Completes Renovations at Post Oak Plaza in Houston, Adds Three New Retailers

by Taylor Williams November 3, 2023

HOUSTON — Locally based developer Levcor has completed renovations at Post Oak Plaza, a retail power center in Houston’s Uptown neighborhood. Capital improvements included updates to building and store facades, new lighting, upgraded landscaping and widened pathways. Additionally, three new tenants have signed leases at the center: scratch kitchen Local Foods (3,016 square feet), mattress retailer Saatva (4,000 square feet) and furniture provider Arhaus (22,201 square feet). Renovations were first announced in mid-2021.

November 3, 2023

California Civic Development Western

McCarthy Building Cos. Starts Construction of $428M Triton Center at UC San Diego Campus

by Amy Works November 3, 2023

SAN DIEGO — McCarthy Building Cos. has broken ground on Triton Center at the University of California San Diego campus. Designed by LMN Architects, the 400,000-square-foot property is the grand entrance to the university and blends art, culture, entertainment and student academic resources. The project is estimated to cost a total $428 million. Triton Center will include four separate buildings that will house the university’s Welcome and Alumni Center, a multi-purpose facility with a 500-person event space and art gallery; gathering spaces and offices for Global Initiatives programs; a student health, mental health and well-being clinic; student academic resources; a mix of retail and restaurant spaces; and a parking structure. Completion is slated for 2026.

November 3, 2023

Development Industrial Oregon Western

Scannell Properties Breaks Ground on 479,000 SF Distribution Facility in Salem, Oregon

by Amy Works November 3, 2023

SALEM, ORE. — Scannell Properties has broken ground on a 479,000-square-foot distribution and manufacturing facility. Gensco Inc. will occupy the project at Scannell Logistics Park in Salem, approximately 50 miles south of Portland. The building is the second built-to-suit project at the logistics park. Designed by Mackenzie, the building will be a single-story, 399,000-square-foot facility, including 306,000 square feet of storage and distribution space, 93,000 square feet of manufacturing space and 6,400-square-foot office blocks on the north and south ends. Additionally, the property will feature a 68,000-square-foot storage mezzanine for a total floor area of 479,000 square feet. Perlo Construction will build the property, which is slated for completion in spring 2025.

November 3, 2023

Development Idaho Loans Multifamily Western

NewPoint Provides $22.5M in Financing for The Larkspur Workforce Housing Development in Victor, Idaho

by Amy Works November 3, 2023

VICTOR, IDAHO — NewPoint Real Estate Capital has provided $22.5 million in HUD/FHA 221(d)(4) construction-to-permanent financing to facilitate the development of The Larkspur, an 86-unit, market-rate, workforce multifamily community. Miami-based Plaza Equity Partners is developing the property in Victor, a small city of approximately 2,000 residents near the Wyoming border. Karen Kim of NewPoint originated the loan, which features a 22-month construction period followed by a 40-year term. The Larkspur is a planned three-story, garden-style community with 3,000 square feet of retail space. The property will feature 29 studio units, 43 one-bedroom units, 11 two-bedroom units and three three-bedroom units. Community amenities will include an outdoor fire pit, barbecue areas, a bark park, bocce ball court, controlled climate storage and winter/summer sports repair and storage rooms. The project team includes Victor-based Headwaters Construction Co.; Boise-based Syringa Property Management; and South Jordan, Utah-based AE Urbia Architects & Engineers. The Larkspur is situated within the Jackson, Wyoming-Idaho micropolitan statistical area.

November 3, 2023

Newer Posts

Older Posts