Property Type

AUGUSTA, GA. — Wellstar Health System and Augusta University Health System (AUHS) have reached an agreement where AUHS facilities will come into Wellstar’s network of hospitals and clinics. The most notable affected facility is Augusta University Medical Center (AUMC), a more than 600-bed safety net and teaching hospital. Wellstar will also have a broader affiliation with the university’s Medical College of Georgia, the only public medical college in the state. Marietta, Ga.-based Wellstar has also pledged to invest $800 million over 10 years for AUHS facilities and infrastructure, including more than $200 million allocated to AUMC. Additionally, capital for a new hospital, medical office building and ambulatory surgery center in Columbia County and the costs associated with implementing a new state-funded electronic medical records system throughout AUHS will be funded. AUHS will operate under a new name, Wellstar MCG Health, once the deal is finalized later this year. The boards of Wellstar and AUHS and the Board of Regents of the University System of Georgia have approved the agreement.

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CHARLOTTE, N.C. — Dominion Realty Partners has broken ground on The Exchange Apartments, a 252-unit multifamily development in southwest Charlotte. The community will be situated within the Exchange Business Park off I-77 and Tyvola Road, about a half-mile from the Woodlawn stop on the Blue Line Light Rail. Units will feature oversized windows, sliding glass doors, Nest thermostats and smart locks. Community amenities will include a resort-style pool and sundeck, coffee bar, fitness center with a yoga and spin room and a game room. United Bank and Dogwood State Bank are providing an undisclosed amount of construction financing for the development. The design-build team includes architectural firm Rule Joy Trammell & Rubio, civil engineer LandDesign and general contractor Harkins. Katherine Southard of CBRE assisted in the land sale between Dominion Realty and the seller, Dilweg. Dominion Realty expects to deliver the first units in first-quarter 2025. The Exchange represents the developer’s fifth project in the metro Charlotte area.

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GREER, S.C. — Cushman & Wakefield has arranged the $29 million sale of Velocity II, a newly built industrial facility in Greer spanning nearly 300,000 square feet. Built in 2022, the property is located at 915 Victor Hill Road, about one mile from I-85 and four miles from South Carolina Port Authority’s Inland Port Greer. Childress Klein and Cullum Interests co-developed the logistics facility on a speculative basis, but the property was fully leased at the time of sale. Velocity II features 32-foot clear heights, an ESFR sprinkler system, LED lighting, 66 high dock-high doors and two ramped drive-in doors, five separate office store fronts and 220 automobile parking spaces with the opportunity for further expansion. Rob Cochran, Bill Harrison, Nolan Ashton, Casey Masters, Stewart Calhoun, Brian Young, Elliott Fayssou, and Kacie Jackson of Cushman & Wakefield represented the developers in the transaction. Stream Realty Acquisition LLC is the buyer.

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TUSCALOOSA, ALA. — SRS Real Estate Partners’ Investment Properties Group has brokered the sale of Five Points Shopping Center, a 57,850-square-foot retail center located at 4205 University Blvd. E in Tuscaloosa. The Winn-Dixie-anchored center is situated about three miles from the University of Alabama. Other tenants include new junior anchor Dollar Tree, as well as AT&T, State Farm Insurance and H&R Block. Kyle Stonis and Pierce Mayson of SRS’ Atlanta office represented the seller, an entity doing business as H&R Tuscaloosa LLC, in the transaction. The buyer, an entity doing business as Five Points SC LLC, purchased Five Points for an undisclosed price.

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KENDALL, FLA. — Etam, a French apparel retailer founded in 1916, plans to open its first U.S. store at Dadeland Mall, a shopping mall in the Miami suburb of Kendall. Simon, the mall’s landlord, expects to debut the new Etam store this summer. The store will carry Etam’s line of lingerie, bras, underwear, sleepwear and swimwear. The retailer currently operates more than 850 stores throughout Europe, Middle East, Latin America and Asia. Other international brands that operate stores at Dadeland Mall include Mango, Bimba y Lola, Razer and Tous, among others.

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DALLAS — Northmarq has arranged the sale of Grand Seasons Apartment Homes, a 144-unit multifamily complex in North Dallas. The property was built in 1978 and offers one- and two-bedroom units. Amenities include a pool, fitness center, outdoor grilling and dining areas and a dog park. Taylor Snoddy, Charles Hubbard and Eric Stockley of Northmarq brokered the deal. The buyer and seller were not disclosed. The new ownership plans to implement a value-add program.

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HOUSTON — Locally based developer NewQuest Properties is underway on the redevelopment of Pavilion Square, a 90,000-square-foot retail center in Houston. NewQuest is rebranding Pavilion Center as West on West. Asian grocer 99 Ranch Market will anchor the center. Other tenants will include Gen Korean BBQ House and Teso Life, which will occupy 6,212 square feet and 13,340 square feet, respectively. Exterior renovations are scheduled for completion this month.

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TOMBALL, TEXAS — Colliers has negotiated the sale of a 10-acre commercial development site located at 15530 Treichel Road in the northern Houston suburb of Tomball. Tom Condon Jr. and John Grimsley of Colliers represented the seller, an undisclosed private investor, in the transaction. Chris Weisinger and Ryan Knape of One Rock represented the buyers, Max & Beverly Welch, who plan to expand their existing garden center and nursery at the site.

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PLANO, TEXAS — Midland Tower Construction has signed a 7,193-square-foot office lease at Placid Business Center in Plano. Jared Laake and Brian Paffford of Bradford Commercial Real Estate Services represented the landlord, an entity doing business as Kennington Placid LLC, in the lease negotiations. Jack Kemendo and Cameron Rogers of Rubicon Representation represented the tenant.

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FORT WORTH, TEXAS — Locally based brokerage firm Holt Lunsford Commercial has negotiated a 2,348-square-foot office lease at Mallick Tower in downtown Fort Worth. The 90,000-square-foot building was originally constructed in 1968. Vic Meyer, Jake Neal and Matt Carthey with Holt Lunsford Commercial represented the undisclosed landlord in the lease negotiations. Alex Hrapkiewicz of JLL represented the tenant, Stannum Capital.

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