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700-River-Austin
DevelopmentMultifamilyTexas

Partnership Tops Out 43-Story Multifamily Project in Downtown Austin

by Taylor Williams

AUSTIN, TEXAS — A partnership between High Street Residential, MSD Partners and River Street Partners has topped out 700 River, a 43-story apartment tower in Austin’s Rainey Street District. The 500-foot building will house 377 units in a mix of studio to three-bedroom residences, as well as several penthouses and 3,400 square feet of retail space. In addition, 700 River will feature more than 30,000 square feet of indoor and outdoor amenity space. HKS is the project architect, and DPR Construction is the general contractor. The first move-ins will begin this fall. Construction began in fall 2022.

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AcquisitionsIndustrialTexas

Partners Real Estate Arranges Sale of Five-Acre Industrial Development Site in San Antonio

by Taylor Williams

SAN ANTONIO — Partners Real Estate has arranged the sale of a five-acre industrial development site in San Antonio. The site is located along FM 2252 near the intersection of Marbach Lane on the city’s northeastern side. Carlos Marquez and Gustavo Torres of Partners represented the seller, Escamilla Rosa Children’s Trust, in the transaction. Samantha Flores of Accelerated Commercial Real Estate represented the undisclosed buyer.

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Leasing ActivityRetailTexas

Sprouts Farmers Market Opens New Store in Rockwall, Texas

by Taylor Williams

ROCKWALL, TEXAS — Sprouts Farmers Market has opened a new store in Rockwall, a northeastern suburb of Dallas. The square footage of the store, which is located at 469 E. I-30, was not disclosed, but the prototypical Sprouts location spans about 30,000 square feet. For the Phoenix-based grocer, the store is the 51st in Texas, with roughly half of those located in the Dallas-Fort Worth metroplex, and the 419th nationwide.

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DevelopmentHealthcareTexas

Edloe Ventures Completes 16,100 SF Medical Office Building in Sugar Land, Texas

by Taylor Williams

SUGAR LAND, TEXAS — Edloe Ventures, a real estate affiliate of the Edloe Health network (formerly known as Elite Health Services), has completed a 16,100-square-foot medical office building in the southwestern Houston suburb of Sugar Land. Telfair Medical Court, which is also now home to Edloe Imaging, is located at 6927 Brisbane Court. JLL is marketing the remainder of the space for lease.

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HealthcareLeasing ActivityTexas

WellMed Medical Management Signs 3,154 SF Lease in Irving

by Taylor Williams

IRVING, TEXAS — WellMed Medical Management has signed a 3,154-square-foot lease at 8403 Sterling St. in Irving. The medical office space is located within Commerce Office Park. Jason Finch and Michael Spain of Bradford Commercial Real Estate Services represented the landlord in the lease negotiations. Erik Sheets of Medcore Partners represented the tenant.

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Alta-Chandler-Apts-Chandler-AZ
AcquisitionsArizonaLoansMultifamilyWestern

IPA Negotiates $94.5M Sale of Alta Chandler at The Park Multifamily Property in Arizona

by Amy Works

CHANDLER, ARIZ. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of Alta Chandler at The Park, a mid-rise apartment community in the Phoenix suburb of Chandler. Wood Partners sold the asset to Olympus Property for $94.5 million, or $324,742 per unit. IPA Capital Markets also arranged $52 million in acquisition financing for the buyer. Brian Eisendrath, Cameron Chalfant, Jake Vitta and Jesse Zarouk of IPA Capital Markets arranged the loan, which features eight years of interest-only payments. Steve Gebing and Cliff David of IPA represented the seller and procured the buyer in the acquisition. Atla Chandler features 291 apartments with open-concept floor plans; nine-foot ceilings; laundry closets with full-size or stackable washers/dryers; extended primary bedrooms with dedicated work-from-home space; and separate den or loft quarters. Select units have direct-access garages. Community amenities include an open-concept leasing office and clubhouse, convenience market, sky lounge, fitness center and private multi-purpose fitness room.

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Aloft-Glendale-Westgate-Glendale-AZ
AcquisitionsArizonaHospitalityWestern

Bradford Allen Acquires 100-Room Aloft Glendale at Westgate in Glendale, Arizona

by Amy Works

GLENDALE, ARIZ. — Bradford Allen’s investment arm has purchased Aloft Glendale at Westgate, a hotel located at 6920 N. 93rd Ave. in the Phoenix suburb of Glendale. Terms of the transaction were not released. The 100-room hotel features an outdoor splash pool, Re:charge fitness center, gift shop, convenience store, meeting spaces, social lounge and the WXYZ bar featuring a full menu, signature cocktails and live music. Bill Murney of Cushman & Wakefield represented the seller, HCW Hospitality & Development, in the transaction. The acquisition marks the Bradford Allen’s second purchase in the Westgate Entertainment District, joining nearby TownePlace Suites Glendale, an extended-stay hotel purchased in late 2022.

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Creekview-Crossing-Sherwood-OR
AcquisitionsMultifamilyOregonWestern

JLL Brokers Sale of 183-Unit Creekview Crossing Apartments in Sherwood, Oregon

by Amy Works

SHERWOOD, ORE. — JLL has arranged the sale of Creekview Crossing, a garden-style apartment community located at 21759 SW Cedar Brook Way in Sherwood, a suburb southwest of Portland. A fund managed by LaSalle Investment Management acquired the asset for an undisclosed price. The name of the seller was not released. Built in 2009, Creekview Crossing features 183 one-, two- and three-bedroom apartments with attached garages, nine-foot ceilings, granite countertops and central HVAC. Community amenities include a 24-hour fitness center, a playground, pool and picnic tables. Ira Virden, Carrie Kahn and Frank Solorzano of JLL Capital Markets’ investment sales advisory team represented the seller and procured the buyer in the deal.

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AcquisitionsArizonaRetailWestern

LNR Partners Sells 189,022 SF Sun Village Fair Retail Center in Chandler, Arizona

by Amy Works

CHANDLER, ARIZ. — LNR Partners has completed the sale of Sun Village Fair, a shopping center in the Phoenix suburb of Chandler, to Arizona Partners (AZP) for $12.5 million. Situated on 20.46 acres at Alma School and Warner roads, Sun Village Fair consists of 189,022 square feet of existing retail space and six acres of slated for pad development. The redevelopment of the property will be aided by existing tenants, Walmart, First Bank and Wendy’s, that are still operating within the development but were not included in the sale. Darren Tappen, Nathan Thinnes, Peter Beauchamp, Trask Switzenberg and Matthew Ault of Kidder Mathews, along with Trevor Koskovich of Northmarq and Brett Rinehart of Land Advisors, represented the seller in the deal.

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AcquisitionsCaliforniaNAIRetailWestern

NAI Capital Arranges $3.2M Sale of Two-Building Commercial Property in Glendale, California

by Amy Works

GLENDALE, CALIF. — NAI Capital Commercial has brokered the sale of a two-building retail and commercial asset in Glendale, just north of Los Angeles. The property traded for $3.2 million, or $468 per square foot. Guillermo Olaiz and John Archibald of NAI Capital Commercial represented the undisclosed seller in the transaction. The name of the buyer was not released. Located at 1212 S. Brand Blvd. within Brand Boulevard of Cars, a strip of 21 car dealerships, the asset includes 6,733 square feet of improvements.

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