Property Type

Carter Multifamily Acquires Tampa Apartment Community for $57.5M

by John Nelson August 3, 2023

TAMPA, FLA. — Carter Multifamily, a division of locally based Carter Funds, has purchased Mode at Ballast Point, a 276-unit, garden-style apartment community located at 6306 S. MacDill Ave. in Tampa. The undisclosed seller sold the property, formerly known as Solis at Ballast Point, for $57.5 million. Situated on 21.5 acres near MacDill Air Force Base, the community features a resort-style pool, private lake and park, onsite pet park and proximity to a waterfront walking/biking path along Bayshore Boulevard. Carter Multifamily plans to execute capital improvements at the property that will include operational improvements, upgrades to amenities, renovations to interiors and exterior building improvements.

August 3, 2023

Acquisitions Office Southeast Virginia

JLL Brokers Sale of 120,031 SF Courthouse Square Office Building in Alexandria, Virginia

by John Nelson August 3, 2023

ALEXANDRIA, VA. — JLL has brokered the sale of Courthouse Square, a 120,031-square-foot office building located at 510 King St. in the Old Town Alexandria neighborhood. The historic, five-story property is situated near the Potomac River and a Metro station. Melrose Solomon Enterprises acquired Courthouse Square for an undisclosed price. The seller was also not disclosed, but Washington Business Journal reports that Brookfield Properties is the seller. Stephen Conley, Matt Nicholson, Kevin Byrd, Andrew Weir, Jim Meisel and Dave Baker of JLL represented the seller and procured the buyer in the transaction. Drake Greer of JLL arranged an undisclosed amount of acquisition financing on behalf of the buyer.

August 3, 2023

Industrial Leasing Activity Southeast Virginia

Automotive Firm Signs 101,000 SF Industrial Lease in Virginia Beach

by John Nelson August 3, 2023

VIRGINIA BEACH, VA. — Power Train Industries Inc., an automotive firm and subsidiary of Dorman Products Inc., has signed a 101,000-square-foot industrial lease in Virginia Beach. The property is located at 464 Progress Lane, a 10-acre property within Oceana East Industrial Park. Located one mile south of I-26, the property features 28-foot clear heights, seven loading docks, 6,000 square feet of office space and 233 parking spaces. Power Train Industries expects to move into the facility around January 2024. John Lee of John Lee & Associates represented the tenant in the lease negotiations. The landlord is The Miller Group.

August 3, 2023

Acquisitions Alabama Retail Southeast

Colliers Arranges Sales of Two Retail Strip Centers in Huntsville Area Totaling $10M

by John Nelson August 3, 2023

HUNTSVILLE AND MADISON, ALA. — Colliers has arranged the sale of two retail strip centers in the Huntsville area totaling nearly $10 million. The properties include Magna Carta, a 22,378-square-foot property located at 11310 Memorial Parkway SW in Huntsville, and Madison Corners, a 14,400-square-foot center located at 1079 Balch Road in Madison. Magna Carter’s tenant roster includes Results Physiotherapy, Bedzzz Express, Marco’s Pizza, T-Mobile and Great Clips. Madison Corners is home to tenants including Stretch Zone, Tropical Smoothie and Firehouse Subs. Pacific West Land, an investment firm based in Washington, purchased Magna Carta, and a private family office based in Montgomery, Ala., purchased Madison Corners. Joe Montgomery, Henry Kushner and Scott Israel of Colliers represented the sellers in the transaction.

August 3, 2023

Development Industrial Oklahoma Texas

Safe & Green to Develop 1.1 MSF Manufacturing Facility in Durant, Oklahoma

by Taylor Williams August 3, 2023

DURANT OKLA. — Safe & Green Holding Corp. a designer and fabricator of modular structures, will develop a 1.1 million-square-foot manufacturing facility in Durant, located just north of the Oklahoma-Texas border. The site spans 114 acres on McLean Avenue. Approximately 120,000 square feet will be used for manufacturing, while the remaining space will support distribution, cold storage and other similar operations. The project team is currently in the design phase. A target completion date was not disclosed.

August 3, 2023

Acquisitions Retail Texas

Westwood Financial Acquires 120,000 SF Shopping Center in Northeast Dallas

by Taylor Williams August 3, 2023

DALLAS — Los Angeles-based investment firm Westwood Financial has acquired Northview Plaza, a 120,000-square-foot, grocery-anchored shopping center located in northeast Dallas. Kroger anchors the center, which was 89 percent leased at the time of sale. Other tenants include Petco and McDonald’s. The transaction was executed off-market with the undisclosed seller.

August 3, 2023

Acquisitions Multifamily Oklahoma Seniors Housing Texas

Blueprint Brokers Sale of 110-Unit Seniors Housing Community in Tulsa

by Taylor Williams August 3, 2023

TULSA, OKLA. — Blueprint Healthcare Real Estate Advisors has brokered the sale of a 110-unit seniors housing community in Tulsa. Completed in 2017, the unnamed property offers assisted living and memory care services as well as Class A amenities. A national investor and its operator, both based in Seattle, sold the asset to an undisclosed buyer. Alex Florea, Kyle Hallion and Kory Buzin led the transaction for Blueprint.

August 3, 2023

Acquisitions Multifamily Texas

Greysteel Arranges Sale of 78-Unit Multifamily Portfolio in East Dallas

by Taylor Williams August 3, 2023

DALLAS — Greysteel has arranged the sale of a portfolio of three multifamily properties totaling 78 units in East Dallas. The properties — Courtyards at Lower Greenville, Garrett on the Green and Republic at San Jacinto — were built in the 1950s and 1960s and renovated between 2018 and 2020. Andrew Mueller led the Greysteel team that brokered the deal. The buyer and seller were not disclosed.

August 3, 2023

Leasing Activity Office Texas

IHI Energy Solutions Signs 17,816 SF Office Headquarters Lease in Houston

by Taylor Williams August 3, 2023

HOUSTON — IHI Energy Solutions, a provider of carbon reduction technologies, has signed a 17,816-square-foot office headquarters lease at Atrium at Park Ten in Houston’s Energy Corridor area. The deal brings the 140,000-square-foot building to 98 percent occupancy. Kim Shapiro and Mike Martin of Avison Young represented the landlord, Florida-based Accesso, in the lease negotiations. Jennifer Meehan of Savills represented the tenant.

August 3, 2023

Willow-Grove-Shopping-Center-Pennsylvania

Development Mixed-Use Northeast Pennsylvania

Federal Realty to Develop 306,448 SF Mixed-Use Project in Willow Grove, Pennsylvania

by Taylor Williams August 3, 2023

WILLOW GROVE, PA. — Federal Realty Investment Trust will develop a 306,448-square-foot mixed-use project in Willow Grove, a northern suburb of Philadelphia. The transit-served project, which will consist of 260 apartments and 20,000 square feet of retail and restaurant space within a six-story building, represents the third phase of the redevelopment of Willow Grove Shopping Center. Construction of Phase III, which will also include a structured parking garage, could commence as early as fall 2024. Phase II of the project, which featured an 18,000-square-foot outparcel retail building and various infrastructural developments, is nearing completion.

August 3, 2023

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