Monday, December 23, 2024
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Property Type

DevelopmentSoutheastStudent HousingVirginia

Subtext, Kayne Anderson to Break Ground on 1,332-Bed Student Housing Community Near University of Virginia

by John Nelson

CHARLOTTESVILLE, VA. — A joint venture between Subtext and Kayne Anderson Real Estate is set to break ground on VERVE Charlottesville, a 1,332-bed development located at 100 Stadium Road near the University of Virginia campus in Charlottesville. Spanning 729,262 square feet, the community will offer 463 units in studio through four-bedroom configurations. Shared amenities will include a fireside lobby lounge, café, dedicated library, open and private study areas, a two-story fitness center, club room, maker space, multi-game simulator, pool terrace, dog spa and park and an outdoor fitness lawn. The developer will also contribute $6.8 million to the Charlottesville Affordable Housing Fund as part of project agreements. Groundbreaking is scheduled for this month with completion slated for summer 2027. The development and financing team for the project includes Sumitomo Mitsui Banking Corp., John Moriarty & Associates, ESG Architecture & Design, Wolf Ackerman Design, AJC Design Group, SK&A, Timmons Group and Williams Mullen as local counsel.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentIndustrialNorth CarolinaSoutheast

MDH Partners Completes Two Metro Charlotte Industrial Buildings Totaling 254,000 SF

by John Nelson

HUNTERSVILLE, N.C. — MDH Partners has delivered Phase II of Northcross Commerce Center, an industrial park in the Charlotte suburb of Huntersville. Located along Jamesburg Drive near I-77, the second phase comprises two Class A facilities totaling 254,000 square feet. Brad Cherry, Matt Greer and Natalie Ceva of JLL are leasing and marketing the new facilities on behalf of MDH Partners. Phase II brings Northcross Commerce Center’s total footprint to nearly 700,000 square feet.

Continue Reading
FacebookTwitterLinkedinEmail
99-Park-Avenue-Manhattan
DevelopmentNew YorkNortheastOffice

Global Holdings to Undertake $30M Renovation of Midtown Manhattan Office Building

by Taylor Williams

NEW YORK CITY — Global Holdings will undertake a $30 million renovation of 99 Park Avenue, a 26-story, 600,000-square-foot office building in Midtown Manhattan. Designed by VOCON, the capital improvement program will feature a reimagined lobby and updated amenity spaces, including a conference center, speakeasy, barbershop and salon and an entertainment lounge with a bowling alley and golf simulator. Completion is slated for early 2026. Global Holdings has also recently secured several lease renewals and expansions at 99 Park Avenue, including a deal with Metropolitan Commercial Bank for a 52,677 square-foot extension covering floors 12-13 and a 26,802-square-foot new lease for the entire 11th floor. In addition, Philadelphia-based real estate investment firm Lubert-Adler signed an eight-year lease expansion covering 7,674 square feet for a portion of the 19th floor. Paul Glickman, Diana Biasotti, Kristen Morgan and Harrison Potter of JLL represented Global Holdings in the lease negotiations.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentLoansMixed-UseRetailSoutheastTennessee

Nuveen Green Capital Provides $11.8M C-PACE Loan for Mixed-Use Renovation in Downtown Chattanooga

by John Nelson

CHATTANOOGA, TENN. — Nuveen Green Capital has provided an $11.8 million C-PACE loan for the gut renovation of Tivoli Theatre, a historic theater in downtown Chattanooga. The 30-year C-PACE loan is being used as part of a $73.4 million construction financing package with Reinvestment Fund Inc. The financing is being used along with New Market Tax Credits and Historic Tax Credits to fund renovations and new developments, including building exteriors, roofing, windows, HVAC, lighting, plumbing, new elevators and a pit lift. Tivoli Theatre, along with an adjacent office building, will be reimagined as the new Tivoli Performing Arts Center and a new 250-seat cinema and performance art hall. The construction timeline was not released.

Continue Reading
FacebookTwitterLinkedinEmail
Leasing ActivityNorth CarolinaOfficeSoutheast

CBRE Arranges Three Office Leases at First Citizens Bank Plaza in Uptown Charlotte Totaling 87,266 SF

by John Nelson

CHARLOTTE, N.C. — CBRE has arranged three office loans totaling 87,266 square feet at First Citizens Bank Plaza, a 23-story office tower located at 128 S. Tryon St. in Uptown Charlotte. Kris Westmoreland, Stephanie Spivey and Joe Franco of CBRE represented the landlord, Dornin Investment Group, in the lease negotiations. The deals included a 20,897-square-foot lease with IT staffing firm Dexian, a 31,838-square-foot lease for an unnamed global IT services and consulting firm and a 34,531-square-foot lease with an unknown branch of the federal government. The U.S. General Services Administration (GSA) signed the third lease with Dornin on behalf of the end user. First Citizens Bank Plaza was recently renovated and features a new lobby, boutique fitness center, tenant amenity hub with lockers and showers, bicycle parking and storage, upgraded restrooms, new lobby and MOA Korean BBQ, a 5,000-square-foot restaurant and bar on the first floor.

Continue Reading
FacebookTwitterLinkedinEmail
District of ColumbiaLeasing ActivityOfficeSoutheast

Workbox to Open 29,000 SF Coworking Space in DC’s Dupont Circle District

by John Nelson

WASHINGTON, D.C. — Workbox plans to open a new 29,000-square-foot coworking space at an office building located at 1333 New Hampshire Ave. NW in Washington, D.C.’s Dupont Circle district. The new space is set to open in February and will represent the company’s first location in the Mid-Atlantic and its 12th nationwide. Workbox also recently announced a coworking location in Pittsburgh that is set to open next month. Workbox – Dupont Circle will feature an entire floor of workspaces, lounges, conference rooms and amenity spaces. Additionally, the space will offer offices and suites for teams ranging in size from one to 40 individuals, all of which have flexible monthly rental agreements.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsConnecticutIndustrialNortheast

O,R&L Commercial Negotiates $12M Sale of Two Recycling Facilities in Hartford, Connecticut

by Taylor Williams

HARTFORD, CONN. — Locally based brokerage firm O,R&L Commercial has negotiated the $12 million sale of two facilities in Hartford that are operated by the Materials Innovation & Recycling Authority (MIRA). The facility at 211 Murphy Road is a 92,616-square-foot industrial building that includes a weigh station and access rights to a railspur and was also the former home of The Trash Museum. The adjacent property at 171 Murphy Road is a one-story, 19,200-square-foot industrial building. Luke Massirio and Thom Wilks of O,R&L brokered the deal on behalf of MIRA. The buyers were not disclosed.

Continue Reading
FacebookTwitterLinkedinEmail
ConnecticutDevelopmentMultifamilyNortheastSeniors Housing

Connect55+ Begins Leasing 128-Unit Active Adult Community in Manchester, Connecticut

by Taylor Williams

MANCHESTER, CONN. — New York-based operator Connect55+ has begun leasing a 128-unit active adult community located at 140 Spencer St. in Manchester, about 10 miles east of Connecticut. Connect55+ Manchester offers one- and two-bedroom apartments that all have private patios/balconies. Amenities include a movie theater, fitness center, library and a community center. Information on starting rents was not disclosed. The facility is the first in Connecticut for Connect55+.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMassachusettsNortheastRetail

CBRE Brokers $11.2M Sale of Metro Boston Shopping Center

by Taylor Williams

WOBURN, MASS. — CBRE has brokered the $11.2 million sale of a Woburn Plaza, a 31,994-square-foot shopping center located on the northern outskirts of Boston. Tenants at the property include West Marine, Eastern Bank and Mattress Firm. Nat Heald, Kyle Juszczyszyn, Connor Scott and Jordana Roet of CBRE represented the seller, locally based owner-operator Linear Retail Properties, in the transaction. The buyer was Chestnut Realty Management.

Continue Reading
FacebookTwitterLinkedinEmail
DelawareLeasing ActivityNortheastRetail

Sprouts Farmers Market Opens 23,000 SF Store in Middletown, Delaware

by Taylor Williams

MIDDLETOWN, DEL. — Sprouts Farmers Market has opened an 23,000-square-foot store in Middletown, located north of Dover near the Maryland-Delaware border. The store is located at 431 Middletown Warwick Road and is the second in Delaware for the Phoenix-based grocer. About 80 people are expected to work at the store on full- and part-time bases.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts