Property Type

SIHI Breaks Ground on Costco-Anchored Shopping Center in Buckeye, Arizona

by Amy Works March 26, 2024

BUCKEYE, ARIZ. — Sunbelt Investment Holdings (SIHI) has broken ground on Buckeye Commons, a retail center at the southeast intersection of Interstate 10 and Verrado Way in Buckeye, a suburb west of Phoenix. Butler Design Group designed the project, with CHASSE Building Team as general contractor. Buckeye Commons will feature more than 410,000 square feet of retail space. Currently signed tenants include Over Easy, Starbucks Coffee, Jimmy John’s, The Joint Chiropractic, State Farm and DIP Nail Bar, as well as a 160,938-square-foot Costco that opened in July 2023. The first store openings at Buckeye Commons are slated for mid-2025. Greg Laing, Zach Pace and Teale Bloom of Phoenix Commercial Advisors executed the current leases, which represent approximately 60 percent of the property’s first phase of shops and pads.

March 26, 2024

California Development Multifamily Western

Ryan Cos., Strata Equity Group Plan 278-Unit Millenia Lot Multifamily Community in Chula Vista, California

by Amy Works March 26, 2024

CHULA VISTA, CALIF. — Ryan Cos. US and Strata Equity Group have formed a joint venture to develop Millenia Lot 19, an apartment property in Chula Vista, just south of San Diego. The joint venture has received financing and started construction of the 278-unit project. Situated within the Millenia master-planned community, the 340,000-square-foot community will consist of four mid-size buildings and 1,180 square feet of commercial space. Millenia Lot 19 will feature 482 parking spaces, a resort-style pool and spa, rooftop deck with clear views of the Pacific Ocean and Mexico, pet amenities, a fitness center and resident clubhouse. The commercial space of the project will include public co-working space that will be available to the greater community. Additionally, the project will offer bike maintenance and storage facilities, community green areas, electric vehicle chargers in every resident garage, a solar program with panels on both rooftops and carports, and energy-efficient appliances. Ryan is the develop and builder and Ark Architects is the architect of record for the project. The first units of Millenia Lot 19 are slated for delivery by fourth-quarter 2025.

March 26, 2024

Acquisitions California Loans Multifamily Seniors Housing Western

Cambridge Arranges $5.6M Acquisition Loan for Twilight Haven Senior Living in Fresno, California

by Amy Works March 26, 2024

FRESNO, CALIF. — Cambridge Realty Capital Cos. has arranged a $6 million acquisition loan for Twilight Haven Senior Living in the San Joaquin Valley city of Fresno. Twilight Haven comprises 60 independent living units, 116 assisted living beds and 50 skilled nursing beds. A California-based LLC was the borrower. A Utah-based industrial bank provided the capital. The seller was a nonprofit operator facing bankruptcy. The 25-year loan is fully amortizing.

March 26, 2024

Acquisitions Arizona Multifamily Western

Cushman & Wakefield | PICOR Brokers $2M Sale of Alamo Apartments in Tucson, Arizona

by Amy Works March 26, 2024

TUCSON, ARIZ. — Cushman & Wakefield | PICOR has arranged the sale of Alamo Apartments, a multifamily building in Tucson. The Twenty Lofts on Tenth LLC acquired the asset from Euclid 35 LLC for $2 million. Located at 824 E. 10th St., the 11,189-square-foot building features 20 apartments. Allan Mendelsberg and Joey Martinez of Cushman & Wakefield | PICOR represented both the seller and buyer in the transaction.

March 26, 2024

Development Industrial Texas

Clay Development Completes 767,520 SF Industrial Project in Brookshire, Texas

by Taylor Williams March 26, 2024

BROOKSHIRE, TEXAS — Houston-based Clay Development has completed Twinwood Distribution Center III, a 767,520-square-foot industrial project in the western Houston suburb of Brookshire. The cross-dock facility sits on 37.1 acres within the 200-acre Uplands Twinwood Business Park. Building features include 40-foot clear heights, 180 dock-high doors, four drive-in ramps, 130-foot truck court depths, 2,600 square feet of office space, an ESFR sprinkler system and parking for 264 cars. The site can also support the addition of parking space for up to 55 trailers. Cushman & Wakefield has been appointed as the property’s third-party leasing agency.

March 26, 2024

Development Georgia Industrial Leasing Activity Southeast

Kamstrup Debuts 150,000 SF Headquarters, Manufacturing Facility in Cumming, Georgia

by John Nelson March 26, 2024

CUMMING, GA. — Kamstrup Water Metering LLC, a global supplier of water meter equipment and services, has opened its new regional headquarters and manufacturing facility in Cumming. The 150,000-square-foot facility is located within Forsyth Commerce Center, a 94-acre business park roughly 40 miles northeast of Atlanta. The Danish company, which has employees in over 20 countries, began operating in the United States in 2013. The company supports water utilities with ultrasonic metering solutions, network communications and software applications. Kamstrup considered 13 other Southeastern cities before selecting Cumming. Joey Kline of JLL worked with Kamstrup on site selection and lease negotiations, which includes securing a 15-year lease with landlord McDonald Development.

March 26, 2024

Development Multifamily Texas

Sueba USA Breaks Ground on 353-Unit Multifamily Project in Katy, Texas

by Taylor Williams March 26, 2024

KATY, TEXAS — Locally based developer Sueba USA has broken ground on Boardwalk Square, a 353-unit multifamily project that will be located west of Houston in Katy. Units will come in studio, one-, two- and three-bedroom formats and range in size from 496 to 2,088 square feet. Residences will be furnished with stainless steel appliances, granite countertops, custom cabinetry and individual washers and dryers. Amenities will include a pool, fitness center, spa, outdoor lounge, coworking lounge, package lockers and a catering kitchen. Boardwalk Square represents the second phase of a larger Sueba development, the first phase of which totals 319 units and was completed in late 2021 and subsequently sold in spring 2022. The first units are expected to be available for occupancy in fall 2025.

March 26, 2024

Alabama Development Southeast Student Housing

Auburn University Breaks Ground on $63M First-Year Residence Hall

by John Nelson March 26, 2024

AUBURN, ALA. — Auburn University has broken ground on a $63 million residence hall project along Haley Concourse on the university’s campus in Alabama. The 371-bed community will house first-year students upon completion, which is scheduled for summer 2026. The 125,651-square-foot development will feature amenities including multipurpose communal spaces and kitchens, group study rooms, laundry facilities on every floor and bike storage. The community will also be home to housing department offices and a storm shelter. The development team for the project, which is targeting LEED certification, includes Niles Bolton Associates and Rabren General Contractors.

March 26, 2024

Development Multifamily Southeast Tennessee

Novare Group, BCDC Begin Leasing 344-Unit Apartment Community in Chattanooga

by John Nelson March 26, 2024

CHATTANOOGA, TENN. — A partnership between Novare Group and Batson-Cook Development Co. (BCDC) has begun leasing Populus Waterside, a 344-unit apartment community located along Gunbarrel Road in Chattanooga. First residents are beginning to move into the property, which offers studio, one-, two- and three-bedroom floor plans. Monthly rental rates range from $1,400 to nearly $2,500, according to the property website. Amenities include a game room, coworking micro-offices, fitness center with a yoga room, resort-style pool, sun deck, tanning ledge, a dog park, pet spa and an outdoor fire pit. The design-build team includes architect Dynamik Design, civil engineer MAP Engineers and general contractor Construction Enterprises Inc.

March 26, 2024

Affordable Housing Development Florida Seniors Housing Southeast

HTG, AM Affordable Housing Open $44M Tucker Tower Senior Apartments in Miami

by John Nelson March 26, 2024

MIAMI — Housing Trust Group (HTG), a leading multifamily developer, and AM Affordable Housing, a nonprofit founded by NBA Hall of Famer and Miami Heat legend Alonzo Mourning, have opened Tucker Tower. The $44 million affordable housing community for seniors age 62 and older is located in the Perrine neighborhood of southern Miami. Tucker Tower, the eighth joint venture between HTG and AM Affordable Housing, will be reserved for households earning at or below 25, 30 and 60 percent of the area median income (AMI). With rents ranging from $463 to $1,359 per month, these rates are a notable contrast to the average rental prices in Miami-Dade County, which currently stand at $2,451. According to a recent study from the University of Florida, Miami-Dade County has a gap of more than 90,000 affordable and available units for renter households with incomes below 80 percent of AMI. This gap is projected to grow to nearly 116,000 units by 2030 unless affordable units are added. Tucker Tower is an eight-story community offering a mix of one- and two-bedroom units ranging from 601 square feet to 895 square feet. Six units are fully accessible and three units are hearing impaired units. Funding sources …

March 26, 2024

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