Property Type

MPV Opens Chick-fil-A, Plans New Construction at Farmington Development in Metro Charlotte

by John Nelson October 16, 2023

CHARLOTTE AND HARRISBURG, N.C. — MPV Properties has announced the addition of new tenants and buildings underway at Farmington, the developer’s master-planned community located in Charlotte and Harrisburg. Chick-fil-A opened at the property in May, and Famous Toastery is planning to open in the second half of 2024 within an outparcel behind the development’s Shop Building I. H.T. Fuel will also open on an outparcel, with construction scheduled to begin directly behind Chick-fil-A in the coming months. Construction is also scheduled to begin on Small Shops II, an 11,865-square-foot retail building. MPV is in negotiations with two tenants to fully occupy the building. The developer has also announced plans for three additional commercial buildings totaling 27,000 square feet, with development expected to begin in early 2024. Additionally, Woodfield Development is nearing completion of The Stead at Farmington, a 275-unit apartment community within Farmington. Upon completion, Farmington, which will also feature for-sale residences, will comprise 600 homes and 275,000 square feet of retail space.

October 16, 2023

Development Multifamily Texas

HALL Group Opens 214-Unit Apartment Building in Frisco

by Taylor Williams October 16, 2023

FRISCO, TEXAS — HALL Group has opened a 214-unit apartment building that is part of the $7 billion redevelopment of the locally based developer’s flagship property in Frisco, HALL Park. The Monarch HALL Park is a 19-story building that is situated on a 5.8-acre site that is also the future home of Kaleidoscope Park. The complex offers 28 different floor plans and a 21,700-square-foot amenity center with a clubroom, fitness center, community kitchen, outdoor grilling and social areas. The park is scheduled to open in spring 2024. Information on starting rents was not disclosed.

October 16, 2023

Acquisitions Louisiana Multifamily Southeast

Reynolds Acquires Two Multifamily Properties Totaling 500 Units in Metro Shreveport, Louisiana

by John Nelson October 16, 2023

BOSSIER CITY AND SHREVEPORT, LA. — Reynolds Asset Management has acquired two multifamily properties in the greater Shreveport area. The first property, Preston Place and Port Au Prince in Bossier City, totals 272 apartments in a mix of one- and two-bedroom floorplans, as well as one three-bedroom unit. Stabilized monthly rental rates at the community, which is located at 400 Preston Blvd. and will be renovated and rebranded as Preston Place North and South, range from $880 to $1,265. Reynolds purchased the property in partnership with Devli Real Estate and iintoo. John Hamilton and Josh Jacobs of Marcus & Millichap brokered the transaction. Situated on 17 acres in Shreveport, the second property — Townhomes at South Highlands — comprises 228 apartments in one-, two- and three-bedroom layouts. Reynolds acquired the community in partnership with Newport Capital Group. Stabilized monthly rents at the property range from $715 to $1,080. Renovations at the community are currently underway and scheduled for completion in October 2024.

October 16, 2023

Development Hospitality Texas

Provident Realty Advisors, Trez Capital to Develop 215-Site RV Park in San Antonio

by Taylor Williams October 16, 2023

SAN ANTONIO — A partnership between Provident Realty Advisors and Trez Capital has acquired 42 acres in San Antonio for the development of a 215-site RV park. The development will be known as Roaming Trails RV Retreat (RTRV) Lake Calaveras and will offer multi-vehicle parking at every pad, back-in and pull-through spots, private fenced yards and weatherproof covers. Communal amenities will include a pool, package lockers and a dog park. Construction is scheduled to begin before the end of the year.

October 16, 2023

Industrial Leasing Activity Texas

Lecangs Signs 133,000 SF Industrial Lease in Southwest Houston

by Taylor Williams October 16, 2023

HOUSTON — Lecangs, a third-party logistics company and subsidiary of Loctek, has signed a 133,000-square-foot industrial lease in southwest Houston. The tenant is taking space at The Business Center at Five Corners, a five-building, 550,000-square-foot development by Levey Group. Joseph Smith, Nathan Wynne and Savannah Smith of CBRE represented Levey Group in the lease negotiations. Lecangs was self-represented. The Business Center at Five Corners is now fully leased.

October 16, 2023

Development Industrial Texas

Gauge Real Estate Breaks Ground on 95,886 SF Industrial Project in North Houston

by Taylor Williams October 16, 2023

HOUSTON — Gauge Real Estate Partners has broken ground on Gauge Interwood Logistics, a 95,886-square-foot industrial project in Houston. The site spans seven acres within the 440-acre Interwood Business Park on the city’s north side. The standalone, rear-load facility will feature 32-foot clear heights, 180-foot truck court depths, 19 trailer stalls and an ESFR sprinkler system. Powers Brown Architecture designed the project, and Rosenberger Construction is serving as the general contractor. Delivery is slated for early 2024.

October 16, 2023

Georgia Loans Multifamily Southeast

Colliers Mortgage Provides $8M Refinancing for Skylar Pointe Apartment Homes in Warner Robins, Georgia

by John Nelson October 16, 2023

WARNER ROBINS, GA. — Colliers Mortgage has provided an $8 million Fannie Mae loan for the refinancing of Skylar Pointe Apartment Homes, a 112-unit multifamily community located in Warner Robins. Amenities at the community include a clubhouse, swimming pool, playground, laundry facility and picnic areas. The seven-year financing features a 30-year amortization schedule. An entity doing business as ATL21WR Owner LLC was the borrower.

October 16, 2023

Development Florida Leasing Activity Mixed-Use Restaurant Retail Southeast

Lincoln Property Co. Arranges Five Leases at Church Street Market in Downtown Orlando

by John Nelson October 16, 2023

ORLANDO, FLA. — Lincoln Property Co. (LPC) has arranged leases with five new tenants at Church Street Market, the 72,000-square-foot retail portion of the 55 West mixed-use property in downtown Orlando. Restaurants Birria 1983, The Bao Spot and BluWave Sushi will occupy 3,800; 2,100; and 3,000 square feet, respectively. Additionally, SAK Comedy Lab will open a 7,200-square-foot venue, and Luxe Med Spa has leased 3,800 square feet. Each of the tenants is scheduled to open before the end of the year. The new leases bring Church Street Market, which was built in 2006, to 91 percent occupancy. Aaron Dan and Kathy Bonini of LPC represented the landlord, Hasta Capital, in the lease negotiations.

October 16, 2023

Industrial Leasing Activity Texas

Cypressbrook Negotiates 18,502 SF Industrial, Office Lease in Northeast Houston

by Taylor Williams October 16, 2023

HOUSTON — Locally based brokerage firm Cypressbrook Co. has negotiated an 18,502-square-foot industrial and office lease in northeast Houston. According to LoopNet Inc., the property at 9364 Wallisville Road was built in 1980 and totals 48,000 square feet. John Hornbuckle of Cypressbrook represented the tenant, third-party logistics firm EN Group Corp., in the lease negotiations. John Kruse and Carter Holmes of Cushman & Wakefield represented the landlord.

October 16, 2023

400-Salt-Meadow-Road-Carteret-New-Jersey

Industrial Leasing Activity New Jersey Northeast

Weida Freight System Signs 188,000 SF Industrial Lease in Carteret, New Jersey

by Taylor Williams October 16, 2023

CARTERET, N.J. — Weida Freight System, a third-party logistics firm based in Hong Kong, has signed a 188,000-square-foot industrial lease in the Northern New Jersey community of Carteret. Weida Freight is taking space at Crow Holdings at Carteret, a newly built, 1.2 million-square-foot development. Jules Nissim, Stan Danzig and Kimberly Bach of Cushman & Wakefield represented the landlord, Crow Holdings, in the lease negotiations. Jimo Liu of Avison Young represented the tenant.

October 16, 2023

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