Property Type

Calta Group Breaks Ground on 180-Unit Revv Apartment Community in Hollywood, Florida

by John Nelson August 9, 2023

HOLLYWOOD, FLA. — The Calta Group has broken ground on Revv, a 180-unit apartment community located at 2233 Hollywood Blvd. in the South Florida city of Hollywood. The property represents the first multifamily project for the Coral Gables, Fla.-based developer. Calta purchased the 1.6-acre site last year for $9.5 million and obtained a $60 million construction loan from BridgeInvest in April. Designed by Miami-based Borges Architects + Associates, Revv will rise eight stories and feature studios, live-work units and one- and two-bedroom apartments. Amenities will include a resort-style pool, coworking space, gym and ground-floor retail space. Calta plans to deliver Revv in the first quarter of 2025.

August 9, 2023

Development Hospitality Southeast Tennessee

Three Pillars, Seven Seas to Develop 119-Room At Home Studio Living Hotel in Metro Nashville

by John Nelson August 9, 2023

SMYRNA, TENN. — Three Pillars Group and Seven Seas Ventures are co-developing At Home Studio Living, a 119-room hotel in Smyrna, a suburb of Nashville. The hotel will be part of the larger Marketplace at Smyrna mixed-use development. Set to open in first-quarter 2025, the property will mark the launch of the At Home Studio Living brand. Three Pillars is planning to add five more locations for the brand in the next 36 months. The company has selected Panama City Beach, Fla., for the second host city. Amenities at the At Home Studio Living Smyrna location will include guestroom kitchens, free Wi-Fi, onsite laundry, outdoor community patios with grills and modern technology in the guest rooms.

August 9, 2023

Acquisitions Arkansas Multifamily Southeast

Cushman & Wakefield Arranges Sale of 260-Unit Uptown Terrace Apartments in Rogers, Arkansas

by John Nelson August 9, 2023

ROGERS, ARK. — Cushman & Wakefield has arranged the sale of Uptown Terrace, a 260-unit apartment community located in Rogers, a town in Northwest Arkansas. Martin Bynum and Craig Hey of Cushman & Wakefield represented the seller, SC Bodner Co. Inc., in the transaction. The buyer and sales price were not disclosed. Built in 2021, Uptown Terrace features a bark park, business center, clubhouse, coffee bar, fire pit, fitness center, Luxer One package locker system, outdoor TV area, resort-style swimming pool with a sundeck and cabanas, a pickleball court, valet trash service and a yoga room. The property also features 28,000 square feet of ground-level commercial space.

August 9, 2023

Development Leasing Activity Mixed-Use Restaurant Retail South Carolina Southeast

RocaPoint Signs New Retail, Restaurant Tenants to Join $1B Greenville County Square Project

by John Nelson August 9, 2023

GREENVILLE, S.C. — RocaPoint Partners has signed three new tenants to join Greenville County Square, a $1 billion mixed-use development coming to downtown Greenville. The new tenants joining the 40-acre development include Pins Mechanical, a duckpin bowling, entertainment and food-and-beverage venue taking 24,366 square feet; Agave Bandido, an authentic Mexican restaurant taking 7,000 square feet; and Fairway Social, a golf-themed entertainment venue and restaurant spanning 9,100 square feet. The tenants are joining a roster that has commitments from Whole Foods Market and The Perch Kitchen & Tap. Other uses include offices for Lima One Capital and a 250,000-square-foot administrative building for Greenville County.

August 9, 2023

Leasing Activity Retail Southeast Virginia

The LEGO Store to Open at Town Center of Virginia Beach in November

by John Nelson August 9, 2023

VIRGINIA BEACH, VA. — The LEGO Store plans to open a new 3,170-square-foot store at Town Center of Virginia Beach, a mixed-use development in downtown Virginia Beach that features 500,000 square feet of shops, restaurants and entertainment venues. The store will carry LEGO products and also host in-store play experiences and events. The LEGO Store joins other recent additions to the development, including Nando’s, Legal Sea Foods, Cinnaholic Bakery, Madewell and Nike. The new store is set to open in November. Gerald Divaris and Sezin Cortinas of Divaris Real Estate represented the landlord, locally based Armada Hoffler, in the lease negotiations. Lindsay Bangel, also with Divaris, represented LEGO, which has 112 stores in North America.

August 9, 2023

Loans Multifamily Texas

Franklin BSP Provides $80M Loan for Refinancing of Downtown Austin Apartments

by Taylor Williams August 9, 2023

AUSTIN, TEXAS — Franklin BSP Realty Trust Inc. (NYSE: FBRT) has provided an $80 million loan for the refinancing of Alexan Waterloo, a 272-unit apartment complex in downtown Austin. Completed in 2021, the 30-story building houses studio, one-, two- and three-bedroom units. Amenities include a pool with cabanas and grilling stations; fitness center with yoga and spin studios; sports lounge with a golf simulator; coworking space with private meeting rooms; and multiple clubrooms with lounge seating and a catering kitchen. The borrower is Crow Holdings Capital. The loan was structured with a two-year initial term and three one-year extension options.

August 9, 2023

Corporate-Drive-Industrial-Complex-Selma

Development Industrial Texas

Ackerman & Co. Underway on 511,000 SF Industrial Project in Selma, Texas

by Taylor Williams August 9, 2023

SELMA, TEXAS — Atlanta-based developer Ackerman & Co. is underway on construction of Corporate Drive Industrial Complex, a 511,000-square-foot industrial project in Selma, a northeastern suburb of San Antonio. The development will consist of a 274,000-square-foot facility and 237,000-square-foot structure on a 32-acre site. The rear-load buildings will feature 32- to 36-foot clear heights and combined parking for 647 cars and 59 trailers. Ackerman is developing the project in partnership with Baltisse US Inc. and is targeting a first-quarter 2024 delivery. Partners Real Estate has been tapped as the leasing agent.

August 9, 2023

Acquisitions Hospitality Texas

Mumford Co. Arranges Sale of 98-Room Tru by Hilton Rockwall Dallas Hotel

by Taylor Williams August 9, 2023

ROCKWALL, TEXAS — Mumford Co., a hospitality brokerage firm with regional offices around the country, has arranged the sale of the 98-room Tru by Hilton Rockwall Dallas hotel, located on the city’s eastern outskirts. The property was built in 2020 and features a fitness center, business center and an outdoor pool with patio seating. The name of the seller and the Alabama-based developer that purchased the property were not disclosed.

August 9, 2023

Illinois Leasing Activity Midwest Office

Glenstar Properties Inks Leases with 12 Tenants for Schaumburg Corporate Center in Suburban Chicago

by Kristin Harlow August 9, 2023

SCHAUMBURG, ILL. — Glenstar Properties has executed 12 office leases totaling 154,000 square feet at its Schaumburg Corporate Center in the Chicago suburb of Schaumburg. The lease signings include 89,000 square feet of new leases and 65,000 square feet of renewals. Schaumburg Corporate Center is a three-building office complex totaling 1 million square feet. Among the leases was global banking firm Citigroup’s new lease for 49,400 square feet across two floors. Citigroup will relocate from its current Northwest suburban office location in January. Additionally, an unnamed data analytics company signed a lease for 24,700 square feet and will relocate its 125 employees in November. The 10 additional lease signings were for spaces ranging in size from 834 to 27,000 square feet. Bill Saviski and Christian Domin of Glenstar represented ownership in the lease with Citigroup, while Gary Fazzio and James Otto of CBRE represented the tenant. On the lease with the data analytics company, Saviski represented ownership, while Fazzio and colleague Paul Diederich represented the tenant. About 76 businesses are located at Schaumburg Corporate Center. Some of the larger tenants include Misumi USA, American Agricultural Insurance Co., Pronto Finance and Munich RE Specialty Group NA Inc. Glenstar completed a $30 …

August 9, 2023

Illinois Leasing Activity Midwest Office

Total Quality Logistics Signs 36,322 SF Office Lease at The National in Chicago

by Kristin Harlow August 9, 2023

CHICAGO — Total Quality Logistics (TQL), a logistics company specializing in shipping needs and supply chain efficiencies, has signed a 36,322-square-foot office lease at The National, a 20-story office building totaling 600,830 square feet in Chicago’s Central Loop. Germany-based Commerz Real owns the property, which is located at 125 S. Clark St. TQL’s new lease represents a 5,000-square-foot expansion over its previous office at 328 S. Jefferson St. Eric Myers, Kathleen Bertrand and John Nelson of Transwestern Real Estate Services represented the landlord, while Jon Milonas and James Otto of CBRE represented the tenant. Originally built in 1907 and designed by Daniel Burnham, The National is designated as a Chicago landmark. The building was renovated in 2015 to include a new fitness center, tenant lounge and outdoor terrace. The renovation also included the addition of Revival Food Hall, a 24,000-square-foot dining marketplace that features local restaurants in a grab-and-go setting.

August 9, 2023

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