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AcquisitionsFloridaRetailSoutheast

Marcus & Millichap Brokers $5.1M Sale of Dunn Ave Plaza Shopping Center in Jacksonville

by John Nelson

JACKSONVILLE, FLA. — Marcus & Millichap has brokered the $5.1 million sale of Dunn Ave Plaza, a 42,570-square-foot shopping center located at 1440 Dunn Ave. in Jacksonville. Simon Grigoryan and Edwinn Bruchman of Marcus & Millichap’s Jacksonville office led a limited marketing strategy on behalf of the seller, which generated eight offers within the first two weeks. The duo also procured the buyer, a private investor. Both parties requested anonymity. Situated on 3.4 acres within a mile of I-95, Dunn Ave Plaza was 67 percent occupied at the time of sale to 26 national, regional and local tenants.

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AcquisitionsAlabamaRetailSoutheast

SRS Negotiates $3.8M Sale of New Gas Station in Daphne, Alabama Leased to Circle K

by John Nelson

DAPHNE, ALA. — SRS Real Estate Partners has negotiated the $3.8 million ground lease sale of a newly built gas station and convenience store located at 26072 Highway 181 in Daphne, about 13 miles east of Mobile, Ala. Circle K has a 15-year, corporate-guaranteed lease in place at the 5,200-square-foot property, which is situated on a two-acre site at the intersection of State Highway 181 and Daphne Road. Patrick Nutt and William Wamble of SRS represented the seller, a Southeast-based development group, in the transaction. The buyer, a local private investor, purchased the property at a 5.5 percent cap rate, according to SRS. Both the buyer and seller requested anonymity.

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Resia-Dallas-West
DevelopmentMultifamilyTexas

Resia Completes 336-Unit Multifamily Project in West Dallas

by Taylor Williams

DALLAS — Miami-based developer Resia, formerly known as AHS Residential, has completed a 336-unit, garden-style multifamily project in West Dallas. Resia Dallas West features one-, two- and three-bedroom units, including 17 affordable housing residences, across eight three-story buildings. All units feature private balconies or patios. Amenities include a pool, fitness center and a business center. Leasing began in October 2023, at which points rents started at $1,280 per month for a one-bedroom unit. Fifth Third Bank and Chicago-based Pearlmark financed construction of the project.

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Leasing ActivityNorth CarolinaOfficeSoutheast

Daye North America Signs 20,678 SF Office Lease at Adaptive Reuse Project in Charlotte

by John Nelson

CHARLOTTE, N.C. — Daye North America, a manufacturer of outdoor power equipment, has signed a full-building office lease at 901 Tuck, an adaptive reuse project located at 901 Tuckaseegee Road in Charlotte’s FreeMoreWest submarket. The company will utilize 901 Tuck as its new corporate office. Chase Merkel of Trinity Partners represented the undisclosed landlord in the lease negotiations, and Warren Snowdon of Foundry Commercial represented the tenant.

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LoansMultifamilyTexas

Colliers Mortgage Provides $32.9M HUD-Insured Construction Loan for Multifamily Project in Decatur, Texas

by Taylor Williams

DECATUR, TEXAS — Colliers Mortgage has provided a $32.9 million HUD-insured construction loan for Deer Park Apartments, a 204-unit multifamily property in Decatur, about 40 miles northwest of Fort Worth. The property will offer one-, two- and three-bedroom units and amenities such as a pool, fitness center, business center, game room, outdoor grilling and dining stations and a dog park. Fritz Waldvogel of Colliers Mortgage originated the loan through a partnership with Old Capital Lending on behalf of the borrower. A construction timeline was not disclosed.

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AcquisitionsIndustrialSelf-StorageTexas

Marcus & Millichap Brokers Sale of 256-Unit Self-Storage Facility in Taylor, Texas

by Taylor Williams

TAYLOR, TEXAS — Marcus & Millichap has brokered the sale of Windmill Mini Storage, a 256-unit self-storage facility in Taylor, a northeastern suburb of Austin. The facility sits on 2.2 acres and spans 33,600 net rentable square feet of non-climate-controlled space. Jon Danklefs and Arol Horkavy of Marcus & Millichap represented the undisclosed seller in the transaction. Horkavy also procured the buyer, a limited liability company that also requested anonymity.

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AcquisitionsMultifamilyTexas

GREA Arranges Sale of Two Multifamily Properties Totaling 178 Units in South Dallas

by Taylor Williams

DALLAS — Multifamily brokerage firm GREA has arranged the sale of 3311 at Vernon and La Madera, two apartment complexes totaling 178 units in South Dallas. According to Apartments.com, 3311 at Vernon property totals 118 units and was built in 1968, and La Madera totals 60 units and was constructed in 1962. Both properties offer one- and two-bedroom floor plans, and La Madera also includes some three-bedroom units. The buyer and seller both requested anonymity. Mark Allen of GREA brokered the deal.  

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Leasing ActivityOfficeTexas

Steelcase Opens 11,169 SF Showroom in Victory Park Area of Dallas

by Taylor Williams

DALLAS — Steelcase, a manufacturer of office furniture, has opened an 11,169-square-foot showroom in the Victory Park area of Dallas. The space is known as the WorkLife Center and is located within the 15-story, 352,000-square-foot Victory Commons One office building. Scott Hage of JLL represented Steelcase in the lease negotiations. Bill Brokaw and Karch Schreiner represented the landlord, Hillwood Urban, on an internal basis. BOKA Powell designed the WorkLife Center, and Balfour Beatty built out the showroom.

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Hoboken-Connect
DevelopmentMixed-UseNew JerseyNortheast

LCOR Breaks Ground on $900M Mixed-Use Project in Northern New Jersey

by Taylor Williams

HOBOKEN, N.J. — Locally based developer LCOR has broken ground on Hoboken Connect, a $900 million mixed-use project in Northern New Jersey. The waterfront development will consist of a 386-unit apartment complex, a 21-story office building, 5,000 square feet of retail and restaurant space and open public space. Within the multifamily component, 20 percent of the residences will be reserved as affordable housing, while the office building will total 704,355 square feet. Both of these buildings will house various Class A amenities. The development team will also make various infrastructural improvements to the site. A tentative completion date was not disclosed.

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Williamsburg-Wharf-Brooklyn
DevelopmentMultifamilyNew YorkNortheast

Naftali Group, Access Industries Underway on 850-Unit Multifamily Development in Brooklyn

by Taylor Williams

NEW YORK CITY — A partnership between locally based developer Naftali Group and holding company Access Industries is underway on construction of Williamsburg Wharf, an 850-unit multifamily development in Brooklyn. The 3.8-acre site is located on Kent Avenue between Division Street and South 11th Street, adjacent to the Brooklyn Navy Yard. Williamsburg Wharf will be a waterfront campus with five 22-story buildings that will also house retail and commercial space. Williamsburg Wharf will also feature an open lawn, public waterfront park, dog run and various walking and biking paths. The first phase is slated for a late 2025 completion.

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