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The-District-in-Little-Elm
AcquisitionsMultifamilyTexas

IPA Negotiates Sale of 324-Unit Apartment Community in Little Elm, Texas

by Taylor Williams

LITTLE ELM, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of The District in Little Elm, a 324-unit apartment community located on the northern outskirts of Dallas. The property was built on 10 acres in 2023 and includes 19 townhomes and 10,000 square feet of retail and restaurant space. Units come in one-, two- and three-bedroom floor plans. The amenity package comprises a pool, fitness center, dog park and spa, clubhouse, package lockers, private work pods, a coffee bar and grilling stations. Drew Kile, Taylor Hill, Michael Ware and Cameron Purse of IPA represented the seller, Palladium USA, in the transaction and procured the buyer, Quarry Capital.

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Leasing ActivityRetailTexas

Dick’s Sporting Goods to Open 100,000 SF ‘House of Sport’ Store in Live Oak, Texas

by Taylor Williams

LIVE OAK, TEXAS — Dick’s Sporting Goods will open a 100,000-square-foot “House of Sport” store at Live Oak Town Center, a shopping center development located on the northeastern outskirts of San Antonio. The space will feature a climbing wall, outdoor field, multiple golf bays and a multi-sport cage that can be used for baseball, softball, lacrosse and soccer. IKEA (300,000 square feet) and Floor & Décor (79,681 square feet) anchor Live Oak Town Center, which is being developed in phases and will ultimately feature more than 800,000 square feet of shopping, dining and entertainment space. A tentative opening date was not announced. Weitzman owns Live Oak Town Center.

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AcquisitionsOfficeTexas

Wellby Financial Buys 9.5 Acres in Southeast Houston for New Headquarters Facility

by Taylor Williams

HOUSTON — Credit union Wellby Financial has purchased 9.5 acres in southeast Houston for its new headquarters facility. The site is located near Baybrook Mall and about three miles from Wellby’s current headquarters office at 1330 Gemini St. The square footage of the new complex was not disclosed, but the project will be developed in phases, with construction scheduled to begin next year. Kelly Hutchinson of Colliers represented Wellby Financial in the land purchase. The seller and sales price were not disclosed.

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AcquisitionsMultifamilyTexas

Partners Real Estate Brokers Sale of San Antonio Apartment Building

by Taylor Williams

SAN ANTONIO — Partners Real Estate has brokered the sale of an apartment building in San Antonio’s Oak Park/Northwood neighborhood. According to Apartments.com, Riviera Apartments totals 20 units in studio, one- and two-bedroom floor plans and was built in 1965. Steve Garza and Justin Ventura of Partners represented the buyer, an entity doing business as SP 2118 Edgehill LLC, in the transaction. Diego Guevara of Core Commercial represented the undisclosed seller.

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Leasing ActivityOfficeTexas

Cima Cash Handling Signs 3,400 SF Lease at Industrial Flex Facility in West Houston

by Taylor Williams

HOUSTON — Cima Cash Handling America Inc., which provides computer hardware to count and track money, has signed a 3,400-square-foot lease at an industrial flex facility located at 15720 Park Row Drive in West Houston. According to LoopNet Inc., the building spans 28,800 square feet and was originally constructed in 1998. Jason Gibbons of the Finial Group represented the tenant in the lease negotiations. The name and representative of the landlord were not disclosed.

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DevelopmentFloridaRetailSoutheast

Jacksonville City Council Approves $1.4B Renovation of EverBank Stadium, Home of NFL’s Jaguars

by John Nelson

JACKSONVILLE, FLA. — The Jacksonville City Council voted 14-1 Tuesday night to approve an agreement between the city and the NFL’s Jacksonville Jaguars for the $1.4 billion renovation of EverBank Stadium. ESPN reports that the agreement needs to be ratified by 24 of the 32 NFL owners, who will review the agreement when they convene in Atlanta in October for their annual meeting. If passed, the anticipated construction timeline of the renovation would begin at the conclusion of the Jaguars’ 2025 season and deliver before kickoff of the team’s 2028 season. The Jaguars, along with Jacksonville Mayor Donna Deegan and lead negotiator Mike Weinstein, presented the renovation agreement in mid-May. “This day has been a long time coming,” says Deegan. “I am truly grateful for the partnership with the Jaguars throughout the negotiation process, and to the City Council for passing this historic deal. Together, we are turning renderings into reality for the betterment of Jacksonville.” The Jaguars released conceptual designs for the renovated EverBank Stadium last summer. The team estimates that the economic impact of the project throughout the Jaguars’ 30-year lease will total $26 billion, with an estimated $2.4 billion in one-time economic impact during construction. The deal …

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Affordable HousingDevelopmentDistrict of ColumbiaMultifamilySoutheast

AHC, Hoffman & Associates Open 449-Unit Mixed-Income Apartments in Southwest DC

by John Nelson

WASHINGTON, D.C. — Affordable Homes & Communities (AHC) and Hoffman & Associates have opened The Westerly, a 449-unit apartment community in southwest Washington, D.C. The mixed-income property features apartments in studio, one- and two-bedroom layouts, including 136 units that are evenly split with income restrictions set at 30 and 50 percent of the area median income (AMI). The property is situated less than one block from the Waterfront Station Green Line Metro station and three blocks from The Wharf, a multibillion-dollar mixed-use development co-developed by Hoffman & Associates. Designed by Torti Gallas + Partners, The Westerly features a façade with cascading balconies and landscapes by Michael Vergason. The property also includes 20,000 square feet of amenities, including a rooftop pool deck, outdoor courtyard with a fire pit, entertainment lounges, fitness center, coworking and meeting spaces and a lobby lounge. The Westerly also houses 29,000 square feet of retail space leased to Good Company Doughnut Café, GoodVets and AppleTree Public Charter School. AHC and Hoffman funded the project using a market-rate equity investment with both 4 percent and 9 percent Low-Income Housing Tax Credits (LIHTC). Partners in the development included development partners CityPartners and Paramount Development; capital partners Grosvenor Americas, Merchants …

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AcquisitionsAlabamaRetailSoutheast

JLL Negotiates Sale of 432,158 SF Shopping Center in Spanish Fort, Alabama

by John Nelson

SPANISH FORT, ALA. — JLL has negotiated the $33.2 million sale of Eastern Shore Centre, a 432,158-square-foot power shopping center located at 30500 Highway 181 in Spanish Fort, a suburb of Mobile, Ala. Jim Hamilton, Brad Buchanan and Andrew Nichols of JLL represented the seller, Allied Development, in the transaction. Chip Sykes, Hunter Goldberg, Hamp Gibbs and Mikey Minihan, also with JLL, arranged an undisclosed amount of acquisition financing on behalf of the buyer, Wicker Park Capital Management. Situated on 42.7 acres and shadow-anchored by Dillard’s, Eastern Shore Centre’s tenant mix includes Belk, Shoe Station, Barnes & Noble, Stock & Trade, California Dreaming, Half Shell Oyster House and Mountain High Outfitters. Wicker Park, along with property manager affiliate Crawford Square Real Estate Advisors, has plans to continue to elevate the tenant profile and activate the place-making opportunities within Eastern Shore Centre.

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AcquisitionsOfficeSoutheastTennessee

Cushman & Wakefield | Commercial Brokers Sale of 100,943 SF Poplar Towers Office Building in Memphis

by John Nelson

MEMPHIS, TENN. — Cushman & Wakefield | Commercial Advisors has brokered the sale of Poplar Towers, a 100,943-square-foot office building located at 6263 Poplar Ave. in Memphis. Landon Williams and Katie Hargett of Cushman & Wakefield | Commercial represented the sellers, an entity doing business as Poplar Towers Office Center LLC and private investor Brett Kaye, in the transaction. Brian Califf of NAI Saig represented the buyer, Gregory Realty GP. The sales price was not disclosed. The Class B office building is situated in the East Memphis submarket. According to LoopNet Inc., Poplar Towers spans 11 stories, features 258 surface parking spots and was built in 1973.

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340-Nevins-St.-Brooklyn
DevelopmentLoansMultifamilyNew YorkNortheast

Affinius Capital, Kennedy Wilson Provide $160M Construction Loan for Brooklyn Multifamily Project

by Taylor Williams

NEW YORK CITY — Affinius Capital, which is a joint venture between San Antonio-based USAA Real Estate and New York-based Square Mile Capital Management, and global investment firm Kennedy Wilson have provided a $160 million construction loan for a multifamily project in Brooklyn. The site at 340 Nevins St. is located in the Gowanus neighborhood. The project will be a 22-story building that will house 320 units, 25 percent of which will be set aside as affordable housing, as well as 29,000 square feet of retail space. Units will come in studio, one-, two- and three-bedroom floor plans, and amenities will include a pool, fitness center, coworking spaces and indoor and outdoor lounges. Dustin Stolly and Jordan Roeschlaub of Newmark arranged the debt on behalf of the borrower, a partnership between Tavros Holdings and Charney Cos. Completion is slated for mid-2027.

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