Property Type

Greystar Opens 281-Unit NOMIA Apartment Community in Midtown Atlanta

by John Nelson December 8, 2023

ATLANTA — Greystar has opened NOMIA, a 281-unit high-rise apartment community located in Midtown Atlanta. Amenities at the property, which features residences in studio, one-, two- and three-bedroom layouts, include vending service TULU, complimentary e-scooters through TULU Ride, coworking space, a spa room, rooftop swimming pool and a fitness studio. Additionally, the community will feature activations including wine tasting with Barcelona Wine Bar, instruction by Evolation Yoga Studio, boxing with Pepper Boxing Club, facials by Woodhouse Spa and rooftop spirits provided by Drop to the Rim Bartend. Monthly rental rates at NOMIA begin at $1,680, according to the community website.

December 8, 2023

Development Georgia Multifamily Southeast

Brook Farm Group, Emory Equity Break Ground on 388-Unit Multifamily Development in Metro Atlanta

by John Nelson December 8, 2023

COVINGTON, GA. — Brook Farm Group and Emory Equity have broken ground on The Sinclair at Callaway Farm, a 388-unit multifamily project in Covington, roughly 35 miles southeast of Atlanta. Situated adjacent to the 180-acre Covington Town Center mixed-use development, the community will feature two distinct neighborhoods comprising 11 residential buildings and amenities. SilverCap Partners provided preferred equity for the project, with construction financing provided by First Horizon Bank and TrustMark Bank. Completion is expected by the end of 2025.

December 8, 2023

Acquisitions Mississippi Retail Southeast

Marcus & Millichap Arranges Sale of 107,288 SF Barnett Plaza Shopping Center in D’Iberville, Mississippi

by John Nelson December 8, 2023

D’IBERVILLE, MISS. — Marcus & Millichap has arranged the sale of Barnett Plaza, a 107,288-square-foot shopping center located at 10598 D’Iberville Road in D’Iberville, a city just north of Biloxi, Miss. Constructed in phases between the late 1970s and 2008, the property is situated on 13.8 acres. Tenants at the center include Crunch Fitness and Saad Health Care. Andrew Chason and Stephen Sewell of Marcus & Millichap represented the undisclosed seller in the transaction. Mickey Davis assisted as the firm’s broker of record in Mississippi. The buyer and sales price were also not disclosed.

December 8, 2023

Development Loans Mixed-Use Texas

Joint Venture Underway on 1 MSF Mixed-Use Project in Dallas

by Taylor Williams December 8, 2023

DALLAS — A joint venture that includes MSD Partners and Trammell Crow Co. is underway on a 1 million-square-foot mixed-use project in the Knox Street area of Dallas. The site spans four acres and is adjacent to the Katy Trail. Plans call for a 140-room hotel with 48 for-sale residences, 150,000 square feet of office space that will be anchored by ISN Software Corp., 100,000 square feet of retail and restaurant space, a 173-unit apartment building and a half-acre park. Plano-based Beal Bank provided $619.5 million in construction financing for the project, which is slated for a 2026 completion. Highland Park Village Associates is leasing the retail and restaurant space, and CBRE is marketing the remainder of the office space for lease. Balfour Beatty and Andres Construction are the general contractors. JLL arranged the construction debt.

December 8, 2023

Acquisitions Industrial Texas

JLL Brokers Sale of 174,821 SF Warehouse, Light Manufacturing Facility in San Antonio

by Taylor Williams December 8, 2023

SAN ANTONIO — JLL has brokered the sale of a 174,821-square-foot warehouse and light manufacturing facility in San Antonio. The front-load facility at 4958 Stout Drive is located on the city’s northeast side and features 22-foot clear heights, 12 dock-high doors, two drive-in ramps and 270 parking spaces. Trent Agnew, Josh Villarreal and Greer Shetler of JLL represented the seller, Ledo Capital Group, in the transaction and procured the buyer, Prattco Creekway Industrial. The building was fully leased to tenants at the time of sale.

December 8, 2023

Acquisitions Multifamily Texas

The Multifamily Group Arranges Sale of 128-Unit Complex in Temple, Texas

by Taylor Williams December 8, 2023

TEMPLE, TEXAS — Dallas-based brokerage firm The Multifamily Group (TMG) has arranged the sale of Midtown Apartments, a 128-unit complex located in the Central Texas city of Temple. Built in 1971, the property offers one- and two-bedroom units with an average size of 872 square feet and amenities such as a pool, fitness center, basketball court, clubhouse and a picnic area. Paul Yazbeck of TMG represented the seller in the transaction, and Jon Krebbs of TMG procured the buyer. Both parties requested anonymity.

December 8, 2023

Leasing Activity Office Texas

Keystone Advisors Signs 32,000 SF Office Lease in West Houston

by Taylor Williams December 8, 2023

HOUSTON — Marketing agency Keystone Advisors has signed a 32,000-square-foot office lease in West Houston. According to LoopNet Inc., the building at 4920 Westway Park Blvd., which is part of the Corporate Centre development, was constructed in 2007 and totals 131,908 square feet. Scott Fikes, Matt Pruitt and Christian Canion of JLL represented the landlord, Agellan Commercial REIT, in the lease negotiations. Josh Marcell and Anthony Porraz of Moody Rambin represented the tenant.

December 8, 2023

Acquisitions New York Northeast Office

SL Green Agrees to Sell Midtown Manhattan Office Building for $632.5M

by Taylor Williams December 8, 2023

NEW YORK CITY — SL Green Realty Corp. (NYSE: SLG) has agreed to sell the fee ownership interest in 625 Madison Avenue, a 563,000-square-foot office building in Midtown Manhattan, for $632.5 million. The 17-story building is located between 58th and 59th streets and includes ground-floor retail space. In connection with the sale, SL Green and its partners will originate a $234.5 million preferred equity investment in the property, and the locally based real estate giant will use net proceeds from the sale for repayment of corporate debt. The buyer was an undisclosed global investment group.

December 8, 2023

Leasing Activity Office Texas

Finial Group Negotiates 15,085 SF Office Lease in Houston

by Taylor Williams December 8, 2023

HOUSTON — Locally based brokerage firm Finial Group has negotiated a 15,085-square-foot office lease in Houston. According to LoopNet Inc., the property at 9949 W. Sam Houston Parkway N was built in 2006 and totals 41,117 square feet. Andrew Bischoff and Jack Gaffney of Finial Group represented the undisclosed landlord in the lease negotiations. Wes Williams and Jordan Trout of Colliers represented the tenant, engineering firm W-Industries of Texas.

December 8, 2023

Connecticut Development Healthcare Northeast Retail

Seligson Properties Completes $20M Healthcare, Retail Conversion Project in Norwalk, Connecticut

by Taylor Williams December 8, 2023

NORWALK, CONN. — Locally based developer Seligson Properties has completed a $20 million healthcare and retail conversion project in Norwalk, located in southern coastal Connecticut. Seligson redeveloped a three-story, 27,000-square-foot historic bank building that was originally constructed in 1955 into a 24,000-square-foot medical facility for Stamford Health and a 3,000-square-foot bank branch office for Wells Fargo. The gut renovation delivered new roofing, windows, doors and lighting, as well as a covered exterior entrance. The development team also reimagined the lobby and updated the building interiors, parking areas and landscaping. Liberty Bank financed the project.

December 8, 2023

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