Property Type

Cullinan Properties Delivers $100M Veterans Affairs Mental Health Clinic in Metro Tampa

by John Nelson August 31, 2023

TEMPLE TERRACE, FLA. — Cullinan Properties has completed the development of the U.S. Tampa Veterans Affairs (VA) Mental Health Clinic in Temple Terrace, roughly 10 miles outside of Tampa. Cullinan broke ground on the $100 million project in late 2021. The facility, which totals 150,000 square feet, will begin seeing patients in January 2024. Situated on 20 acres, the development features a 120,000-square-foot clinic, 265 consult rooms, 60 patient rooms, an activities courtyard, full-service kitchen, dining room and social activities room. The General Services Administration (GSA), along with the VA, selected the project team, including Hoar Construction and Leo A Daly as the general contractor and architect, respectively. Lincoln Harris is the facility manager.

August 31, 2023

Acquisitions Retail Southeast Virginia

Joint Venture Acquires Shopping Center Portfolio in Woodbridge, Virginia for $52.8M

by John Nelson August 31, 2023

WOODBRIDGE, VA. — A joint venture between Ideal Realty Group, Rock Creek Property Group and The Sigmund Cos. has purchased a portfolio of four regional shopping centers in Woodbridge’s Dale City neighborhood. An affiliate of Interstate Management Inc. sold the properties, which total 470,000 square feet, for $52.8 million. The properties include Center Plaza, Mapledale Plaza, Forestdale Plaza and Glendale Plaza, all of which are located within three miles of each other along Dale Boulevard. The centers were 90 percent leased at the time of sale to tenants include Giant Food, Truist Bank, CVS, Ace Hardware, Advance Auto Parts, Wells Fargo and Dollar General. The new ownership is working with MV+A Architects to renovate the interiors and exteriors of the portfolio. KLNB has been selected for the portfolio’s leasing assignment, and TSCG has been tapped to handle property management services.

August 31, 2023

Development Loans Multifamily North Carolina Southeast

FCP Provides $13.9M in Preferred Equity for Multifamily Development in Charlotte

by John Nelson August 31, 2023

CHARLOTTE, N.C. — FCP has provided $13.9 million in preferred equity for the development of Easton at Mountain Island, a 240-unit apartment community located along Garron Point Drive in Charlotte. FCP provided the capital to the developer, Waypoint Residential, through its Structured Investments platform, which has invested approximately $640 million to date. When complete, Easton at Mountain Island will be situated on nearly 20 acres near the Catawba River and Charlotte Douglas International Airport.

August 31, 2023

Acquisitions Florida Retail Southeast

Marcus & Millichap Arranges $7.3M Sale of Tampa Store Net Leased to Publix

by John Nelson August 31, 2023

TAMPA, FLA. — Marcus & Millichap has arranged the $7.3 million sale of a freestanding store located at 8701 W. Hillsborough Ave. in Tampa. The 64,031-square-foot retail property is net leased to Publix. Situated on 6.3 acres at the intersection of Memorial Highway and Hillsborough Avenue, the store was built in 1977 as an Albertsons. Evan Cannan and Reid Thedford of Marcus & Millichap’s Tampa office represented the seller, a private investor whose family has owned the land for nearly a century. Dean Zang, David Crotts, and Josh Ein of Marcus & Millichap’s Washington, D.C., office procured the buyer, which provided a bid that was $1.3 million higher than the highest off-market bid.

August 31, 2023

Acquisitions Multifamily Texas

SPI Advisory Acquires 244-Unit Parkview Terraces Apartments in South Austin

by Taylor Williams August 31, 2023

AUSTIN, TEXAS — Texas-based private equity firm SPI Advisory has acquired Parkview Terraces, a 244-unit apartment community in South Austin. The property was originally developed in 2009 as Cortland Southpark Terraces and was recently renovated. According to Apartments.com, Parkview Terraces features one-, two- and three-bedroom units that range in size from 700 to 1,348 square feet and amenities such as two pools, a clubhouse, fitness center, business center, outdoor grilling and dining stations and a dog park. The seller and sales price were not disclosed. Fritz Waldvogel of Colliers Mortgage originated an undisclosed amount of Fannie Mae acquisition financing for the deal.

August 31, 2023

Acquisitions North Carolina Retail Southeast

Taylor McMinn Retail Group Brokers $1.2M Sale of Store in Kinston, North Carolina Leased to Advance Auto Parts

by John Nelson August 31, 2023

KINSTON, N.C. — The Taylor McMinn Retail Group, a retail investment sales team within Marcus & Millichap, has brokered the $1.2 million sale of a 7,000-square-foot store in Kinston leased to Advance Auto Parts. The retailer, which has operated at the store since it was built in 2003, recently signed a new 10-year lease at the property. The Advance Auto Parts is situated on a 0.7-acre site at 302 W. Vernon Ave., about 85 miles north of Wilmington, N.C., via I-40. Don McMinn of Taylor McMinn represented the undisclosed seller in the transaction. The buyer was an out-of-state 1031 investor. “Investment-grade tenants with lower rents and price points continue to receive strong demand in an environment where debt is a challenge,” says McMinn.

August 31, 2023

Affordable Housing Loans Multifamily Texas

Amegy Bank Provides $25M Construction Loan for Houston Affordable Housing Project

by Taylor Williams August 31, 2023

HOUSTON — Regional lender Amegy Bank has provided a $25 million construction loan for NHH Berry, a 180-unit affordable housing project that will be located in Houston’s Third Ward. The property will offer one-, two- and three-bedroom units that will be reserved for low- to moderate-income residents and amenities such as a community kitchen, lounge, library and meeting/social service offices. The building will also house a preschool that residents’ children can attend free of charge. The borrower is New Hope Housing. Construction is scheduled to begin in October and to be complete in summer 2025.

August 31, 2023

Industrial Leasing Activity Texas

Sungrow USA Signs 179,534 SF Industrial Lease in North Houston

by Taylor Williams August 31, 2023

HOUSTON — Sungrow USA Corp., a division of Chinese solar technology company Sungrow, has signed a 179,534-square-foot industrial lease at Rankin 45 Distribution Center in North Houston. The cross-dock building features 32-foot clear heights, an ESFR sprinkler system, four drive-up ramps and parking for 259 cars and 23 trailers. Michael Foreman and Beau Kaleel of Cushman & Wakefield represented Sungrow USA in the lease negotiations. Joseph Smith and Faron Wiley of CBRE represented the landlord, a joint venture between Trammell Crow Co. and Clarion Partners.

August 31, 2023

Industrial Leasing Activity Texas

Finial Group Negotiates 58,016 SF Industrial Lease Renewal in Arlington

by Taylor Williams August 31, 2023

ARLINGTON, TEXAS — Houston-based brokerage firm Finial Group has negotiated a 58,016-square-foot industrial lease renewal at 626 106th St. in Arlington. According to LoopNet Inc., the building was constructed on 2.4 acres in 1970 and features 19-foot clear heights. John Buckley, Jack Gaffney and Nicky Manasso of Finial Group represented the undisclosed landlord in the lease negotiations. John Brewer and Riley Maxwell of Transwestern represented the tenant, Iron Mountain Information Inc.

August 31, 2023

Acquisitions Retail Texas

JLL Arranges Sale of 40,589 SF Shopping Center in Rowlett, Texas

by Taylor Williams August 31, 2023

ROWLETT, TEXAS — JLL has arranged the sale of Lake Pointe Market, a 40,589-square-foot shopping center in Rowlett, a northeastern suburb of Dallas. The center was 97 percent leased at the time of sale to tenants such as PetCo, DCP Equity Partners, Burger Island, OneMain Financial, Bank of America, Verizon Wireless and SuperCuts. Adam Howells, Chris Gerard and Megan Babovec of JLL represented the seller, Main Street Investment Co., in the deal and procured Ohio-based retail REIT Phillips Edison & Co. as the buyer.

August 31, 2023

Newer Posts

Older Posts