Property Type

Iconex Renews 88,461 SF Industrial Lease at Cambridge Business Park in Kansas City

by Kristin Harlow August 31, 2023

KANSAS CITY, KAN. — Iconex, a provider of label solutions and paper receipts, has renewed its 88,461-square-foot industrial lease at Cambridge Business Park in Kansas City. Copaken Brooks owns Cambridge Business Park, which totals 13 buildings and 464,521 square feet of light industrial and office space. There are more than 45 long-standing tenants at the property. Iconex has been a tenant since 2007. Its new lease goes through 2030. John Stafford of Colliers represented Iconex, while Jeremiah Dean represented Copaken Brooks on an internal basis.

August 31, 2023

Development Life Sciences Texas Top Stories

Texas Woman’s University to Break Ground on $107M Health Sciences Center in Denton, Texas

by Jeff Shaw August 31, 2023

DENTON, TEXAS — Texas Woman’s University (TWU) will break ground on a $107 million health sciences center in Denton on Friday, Sept. 15. The 136,000-square-foot facility will serve students in the allied healthcare fields such as nursing, physical therapy and occupational therapy. TWU states the goal of the center is to graduate 30 percent more nursing and healthcare professionals, with a special emphasis on preparing students to serve in rural settings. The new health sciences center will be constructed on seven acres adjacent to Parliament Village, a TWU residential complex housing 872 students. Plans for the facility include laboratory space, classrooms, collaborative workspaces, outdoor clinic sites and a teaching kitchen, as well as community healthcare clinics and training areas for students. Alongside the groundbreaking, TWU will launch the public phase of the $125 million Dream Big Campaign. This is TWU’S first comprehensive fundraising campaign. The Dream Big Campaign is intended to commemorate university’s 125th anniversary in 2026. TWU is a public university that was established in 1901. The university’s main campus is in Denton, with additional health science centers in Dallas and Houston. While TWU admitted its first male students in 1972 and has been fully co-educational since 1992, the school is …

August 31, 2023

Industrial Market Reports Midwest Midwest Market Reports Minnesota

Minneapolis Industrial Market Remains Strong Despite Current Debt Challenges

by Kristin Harlow August 31, 2023

By David Berglund, JLL The Minneapolis-St. Paul industrial real estate market continues to show strength as tenant demand and leasing activity keep vacancies low and absorption steady. In the second quarter of 2023, there were more than 4 million square feet of leasing and 523,641 square feet of net absorption, which pushed vacancy rates down slightly to 3.6 percent. In addition, roughly 800,000 square feet of speculative development was removed from the market. Currently, there is just 2.7 square foot of available space for every square foot of tenant demand. Year-to-date absorption was nearly 2 million square feet, led by the Northwest submarket with nearly 1.3 million square feet of that total since January. The Northwest submarket has been leading in absorption in four of the past six quarters. Asking rents increased to $6.21 per square foot and first-year rents continued to climb to $9.13 per square foot, reflecting an 11.5 percent growth over 2022. With very low vacancy and limited supply coming, we are continuing to see favorable conditions for landlords in the Twin Cites industrial market. New high-water marks for rents will likely continue into 2024. Investment sales, however, tapered off significantly as the impact of several incremental …

August 31, 2023

Features Property Type Seniors Housing Southeast

Mind the Gap(s): InterFace Panelists Highlight Divides in the Senior Living Industry and How to Bridge Them

by Hayden Spiess August 31, 2023

ATLANTA — The demand metrics of seniors housing are extremely compelling, given the demographics of Americans aging into the product type. But that demand is not necessarily translating directly to occupancy at senior living properties. This disparity between leads and move-ins is just one of the gaps that the panelists highlighted throughout the “Power Panel” at France Media’s InterFace Seniors Housing Southeast conference that touched on marketing, generational differences and family expectations. Hosted Aug. 16 at the Westin Buckhead in Atlanta, the panel offered insight into the state of the industry, as seen through the eyes of C-Suite executives. Participants included Iyvonne Byers, CFO of Priority Life Care; Judd Harper, president of The Arbor Co.; Doug Schiffer, president and chief operating officer of Allegro Senior Living; Shelley Esden, president and CEO of Sonata Senior Living; and Terry Rogers, president and CEO of Westminster Communities of Florida. John Lariccia, CEO of WelcomeHome Software, served as the moderator. Follow the lead Esden said that the “big discrepancy between the rise in the number of leads and the rise in move-ins” can be partly accounted for by the prevalence of digital marketing and automation, particularly in the post-COVID landscape. For this reason, she …

August 31, 2023

Acquisitions Alabama Development Mixed-Use Multifamily Southeast

IMS Development Acquires 130 Acres in Huntsville, Plans Mixed-Use Campus With 800 Residences

by John Nelson August 30, 2023

HUNTSVILLE, ALA. — Tuscaloosa, Ala.-based IMS Development has purchased 130 acres on the north side of Huntsville from the University of Alabama in Huntsville Foundation. The site is located at the corner of State Routes 255 and 53 and Blake Bottom Road. The buyer plans to build a mixed-use campus on the site dubbed North Valley, which will comprise 800 residences and 20 acres of commercial space. IMS Development says potential uses for the commercial component could include big-box retailers, hotels, restaurants, convenience stores and entertainment venues. Eric St. John of Crunkleton Commercial Real Estate assisted IMS in the land acquisition. The construction timeline was not released.

August 30, 2023

Development Florida Southeast Student Housing

Landmark, Manulife to Break Ground on 859-Bed Student Housing Development Near Florida State University

by John Nelson August 30, 2023

Management has announced plans for The Mark at Tallahassee, an 859-bed student housing development located near the Florida State University (FSU) campus in Tallahassee. The three-building community will offer fully furnished units with bed-to-bath parity. Shared amenities are set to include a rooftop clubhouse with an outdoor swimming pool, sun shelf, lounge seating, a grill station, fire pits and a jumbotron; a fitness center overlooking the university’s Doak Campbell football stadium; 24-hour study lounge; collaboration space; and bike storage. The project, which is being built by Landmark’s in-house general contractor Landmark Construction, is expected for completion in August 2025.

August 30, 2023

Loans Office Southeast Tennessee

Canyon Partners, J.P. Morgan Provide $174.6M Recapitalization Loan for One22One Office Tower in Nashville

by John Nelson August 30, 2023

NASHVILLE, TENN. — Canyon Partners Real Estate and J.P. Morgan have co-originated a $174.6 million construction loan for the recapitalization of One22One, a 24-story office tower in Nashville. The borrower, a joint venture between locally based GBT Realty and Koch Real Estate Investments, delivered the Class A property last summer. One22One comprises 373,232 square feet of office space, 16,938 square feet of retail space and 13 stories of parking totaling 930 spaces. Amenities include a conference center, outdoor terrace overlooking downtown Nashville, tenant lounge, port cochere and a fitness center. Tenants include law firm Bradley Arant Boult Cummings LLP, FirstBank, which will also relocate its headquarters to One22One, and Slalom, a global management consulting company.

August 30, 2023

Development Loans Multifamily South Carolina Southeast

GBT Realty Obtains $88M Construction Loan for Village at Carnes Crossroads Apartments in Metro Charleston

by John Nelson August 30, 2023

SUMMERVILLE, S.C. — Brentwood, Tenn.-based development firm GBT Realty Corp. has obtained an $88 million construction loan for The Village at Carnes Crossroads, a 306-unit multifamily community in Summerville. The property will be the latest multifamily component for the 2,300-acre Carnes Crossroads master-planned development in metro Charleston. Matt Stewart and Chip Sykes of JLL arranged the loan through Bank of America and Meta Real Estate Partners. The multifamily community will be situated directly across from The Marketplace at Carnes Crossroads, a Publix-anchored shopping center. Set to open first units in spring 2025, The Village at Carnes Crossroads will feature a mix of studio, one-, two- and three-bedroom units. Amenities will include separate small- and large-breed dog parks, a resort-style saltwater pool with lounge deck, outdoor kitchen, club room with catering kitchen and golf stimulator, fitness complex and a coworking center, as well as 11,000 square feet of retail space. The design-build team includes architect Dynamik Design, civil engineer Thomas & Hutton and general contractor Samet Corp.

August 30, 2023

Development North Carolina Office Southeast

Stiles, Shorenstein Properties Top Out 110 East Office Tower in Charlotte’s South End

by John Nelson August 30, 2023

CHARLOTTE, N.C. — Stiles and Shorenstein Properties have topped out 110 East, a 23-story office tower located at 110 East Blvd. in Charlotte’s South End district. The Class A, 370,000-square-foot tower will be situated atop the LYNX Blue Line platform and provide direct access to the Charlotte Rail Trail. The co-developers expect to deliver 110 East in March 2024. The design-build team, which includes Nashville-based Hastings Architecture and general contractor Shelco LLC, have achieved LEED Gold and WiredScore Platinum certifications. The property will feature a 900-space parking garage, fitness center, flexible conference spaces, 5,800 square feet of commercial space on the rail platform. Jessica Brown and David Dorsch of Cushman & Wakefield are handling the office leasing assignment at 110 East, and Adam Williams of Legacy Real Estate Advisors is handling retail leasing.

August 30, 2023

Development Industrial Texas

Baltisse, Ackerman Complete 307,000 SF Industrial Project Near San Antonio

by Taylor Williams August 30, 2023

SCHERTZ, TEXAS — Atlanta-based developer Ackerman & Co., in partnership with Baltisse US Inc., has completed Doerr Lane Logistics Center, a 307,000-square-foot industrial project in Schertz, a northeastern suburb of San Antonio. The Class A, tilt-wall distribution center features 32-foot clear heights, 78 overhead dock doors, an ESFR sprinkler system and parking for 318 automobiles and 96 trailers. Beaty Palmer Architects designed the project, and Kopplow Construction served as the general contractor. Partners Real Estate is the leasing agent.

August 30, 2023

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