Property Type

Cushman & Wakefield Brokers $2.2M Sale of Columbine West Apartments in Pueblo West, Colorado

by Amy Works October 4, 2023

PUEBLO WEST, COLO. — Cushman & Wakefield has negotiated the sale of Columbine West Apartments, a multifamily asset in Pueblo West. A Denver-based buyer acquired the community from S&J Rental Properties for $2.2 million, or $137,500 per unit. Located at 1010-1016 E. Mallon Drive, the single-story property features 16 residential units. Lee Wagner, Jeff Dimmen and Nic Polaski of Cushman & Wakefield’s multifamily investment services team in Colorado Springs represented the seller, while Wagner also represented the buyer in the transaction.

October 4, 2023

Acquisitions Illinois Industrial Midwest

Venture One Purchases 63,382 SF Industrial Building in Bedford Park, Illinois

by Kristin Harlow October 4, 2023

BEDFORD PARK, ILL. — Venture One Real Estate, through its acquisition fund VK Industrial VI LP, has purchased a 63,382-square-foot industrial building in the Chicago suburb of Bedford Park. Located at 7333 Lockwood Ave., the property was vacant at the time of acquisition. The single-tenant building features six docks, one drive-in door, parking for 43 cars and a two-ton crane. Prior to closing, Venture One received a 6B tax incentive from Bedford Park. Venture One plans to make improvements to the property such as office renovations, warehouse paint, parking lot paving, energy-efficient warehouse lights, roof replacement and sprinkler system upgrades. Rown McDonnell, Traci Payette and Stephanie Park of CBRE represented the undisclosed seller and will be retained to complete lease-up. VK Industrial VI, which is co-sponsored by Venture One and Kovitz Investment Group, targets industrial acquisitions in the Chicago, Northeast and Florida markets.

October 4, 2023

Acquisitions Colorado Multifamily Western

Berkadia Arranges Sale of 35-Unit The Roost Multifamily Property in Denver

by Amy Works October 4, 2023

DENVER — Berkadia has brokered the sale of The Roost, an apartment building in Denver’s Jefferson Park neighborhood. Terms of the transaction were not released. Nick Steele and Nate Moyer of Berkadia Denver represented the undisclosed seller in the deal. Located at 2434 Federal Blvd., The Roost features 33 studio units and two one-bedroom apartments. The building was built in 2022.

October 4, 2023

Development Mixed-Use Texas Top Stories

Triten Real Estate Partners Completes Assembly Park Mall Redevelopment in Plano, Texas

by Kristin Harlow October 4, 2023

PLANO, TEXAS — Triten Real Estate Partners has completed the office and retail portions of Assembly Park, the redevelopment of Market Square Mall in Plano. Located along Central Expressway and Spring Creek Parkway, the project features 180,000 square feet of creative office space, 17,000 square feet of walkable retail and dining space, a park and hiking and biking trails. Additionally, Triten is set to complete The Annabel, Assembly Park’s multifamily development, in December. The Class A apartment community features one, two- and three-bedroom units with rentable garages and storage units. Amenities include a fitness center, dog grooming room, dog park, outdoor gaming areas, coworking spaces and secure bike storage. Triten purchased the 300,000-square-foot mall in 2021 with the goal of transforming the underutilized center into a mixed-use development. The mall was built in 1983 and originally named the Outlet Mall of Americas. “Assembly Park is a true work, live, play destination, positioned to appeal to a diverse range of community members,” says Scott Arnoldy, founder of Triten. Triten enlisted Michael Hsu Office of Architecture to design the office and retail portions of Assembly Park. The interior design of the creative office space pays homage to the existing structure’s history by …

October 4, 2023

Eran Dor Pavlov Media Future Multifamily Tech

Content Partner Features Leasing Activity Midwest Multifamily Northeast Pavlov Media Southeast Texas Western

Multifamily Internet Connectivity: Planning for the Future

by Sarah Daniels October 4, 2023

Internet connectivity is the digital equivalent of a foundation for any multifamily property. Residents want access for communications, entertainment, business and personal needs. Property operators need connections for management and reporting software resources. Good and reliable connections to the Internet, and a dependable Wi-Fi network as a way of distributing that access, are essential. Looking three to five years into the future, these connectivity needs become even more demanding and complex. The Internet of Things (IoT) creates a layer of interesting application and use cases for property owners. IoT defines the collective network of connected technology that enables communication between devices (“things”) and the cloud and/or among the devices themselves. IoT devices are the technology that creates smart home and buildings. IoT devices also support and simplify functions such as rental property management, energy usage reduction, maintenance cost reduction and more. “Looking into the future, IoT applications can make the property more efficient in surprising ways,” says Eran Dor, vice president of technology products at Pavlov Media. Leak detectors can provide early warning of flooding and appropriately shut off water before any significant damage occurs. Trash cans can be equipped with sensors that indicate when to collect, rather than requiring …

October 4, 2023

Development Georgia Leasing Activity Mixed-Use Office Restaurant Retail Southeast

Portman Opens Junction Krog District Office Building in Atlanta

by John Nelson October 3, 2023

ATLANTA — Portman has opened Junction Krog District, a mixed-use building in Atlanta’s Inman Park neighborhood that features 135,000 square feet of Class A offices, private terraces and ground-level retail space. The development is situated across from the Krog Street Market food hall at the corner of Auburn Avenue and Irwin Street. The Atlanta-based developer has also signed Yuji, a Japanese dining concept by Kinjo Enterprise LLC, to join Junction Krog District’s retail mix on the ground level. Yuji, along with Italian dining concept YEPPA&co, will open in summer 2024. The Japanese restaurant will feature a walk-up window for to-go orders, two outdoor bars and a 1,670-square-foot patio connected to Junction Krog District’s 7,000-square-foot public porch, which is now open. The porch fronts the Atlanta BeltLine’s Eastside Trail. Adjacent to Junction Krog District, Portman recently purchased 1.3 acres where the firm will plan a second phase for the project.

October 3, 2023

Development Leasing Activity Louisiana Mixed-Use Office Southeast

Shell Signs Lease at 142,000 SF Office Development Underway in New Orleans’ River District

by John Nelson October 3, 2023

NEW ORLEANS — Gas giant Shell has signed a lease at a 142,000-square-foot office building to be constructed in the 39-acre River District mixed-use neighborhood of New Orleans. Shell’s Gulf of Mexico operations headquarters will occupy the multi-floor property. Cypress Equities and Lauricella Land Co. have formed a joint venture to develop the building, which Gensler is designing. Located on Convention Center Boulevard, the project is scheduled to begin construction in 2024. Tim Relyea and Joe Peddie of Cushman & Wakefield represented Shell in the lease negotiations.

October 3, 2023

Acquisitions Alabama Retail Southeast

Dorsey Development Purchases 59,822 SF Island Road Shopping Center in Theodore, Alabama

by John Nelson October 3, 2023

THEODORE, ALA. — Dorsey Development, an entity owned and operated by G. Paul Dorsey III, has purchased Island Road Shopping Center at 5827 Highway 90 W in Theodore. Winn-Dixie anchors the property, which totals 59,822 square feet. Other tenants at the center include Pizza Hut, Subway, Buddy’s Home Furnishings and Premier Nails. The seller and sales price were not disclosed.

October 3, 2023

Acquisitions Florida Retail Southeast

Thompson Thrift Sells Two Retail Buildings in Cape Coral, Florida Totaling 24,000 SF

by John Nelson October 3, 2023

CAPE CORAL, FLA. —Thompson Thrift has sold two retail buildings in Cape Coral totaling 24,000 square feet. Situated within Cape Coral Commons, the multi-tenant buildings each comprise 12,000 square feet. Tenants scheduled to open at the properties include First Watch, Mission BBQ, Firehouse Subs, Tire Kingdom, Paragon Healthcare, Crumbl Cookies, PJ’s Coffee and Visionworks. David Hoppe of Atlantic Retail arranged the sale on behalf of Thompson Thrift. A California-based buyer acquired the buildings for an undisclosed price. Cape Coral Commons also features a third multi-tenant building currently under construction, as well as four one- to two-acre outparcels.

October 3, 2023

Development Georgia Leasing Activity Mixed-Use Restaurant Retail Southeast

Lincoln Property Co. Signs Three Tenants to Echo Street West Mixed-Use Project in Atlanta

by John Nelson October 3, 2023

ATLANTA— Lincoln Property Co. has signed three retailers to join Echo Street West, its 19-acre mixed-use project currently underway in west Atlanta. Food-and-beverage concepts El Gordo Taqueria by Fuego Tortilla, Fresh Squeezed Mini Bar and Le Macaron will occupy 2,430; 1,917; and 895 square feet, respectively. Situated on the Atlanta BeltLine Westside Trail, Echo Street West is being constructed in phases, with the initial development comprising 300,000 square feet of creative office space, 50,000 square feet of retail space, 292 residential units and 3.4 acres of outdoor entertainment and greenspace. Plans for the property include additional offices, shops, residences and hotel rooms.

October 3, 2023

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