Property Type

Ledo Capital, St. Clair Commercial to Develop 663,460 SF Industrial Project in San Marcos, Texas

by Taylor Williams April 14, 2023

SAN MARCOS, TEXAS — A partnership between two California-based developers, Ledo Capital Group and St. Clair Commercial Real Estate, will develop a 663,460-square-foot industrial project in the Central Texas city of San Marcos. San Marcos Business Park will consist of three buildings ranging in size from 84,000 to 375,000 square feet that will be situated on a 45.7-acre site within the Whisper South master-planned development. All buildings will have rear-load configurations, 32- to 36-foot clear heights and ESFR sprinkler systems. The site also includes additional space for outdoor storage or trailer parking. Dallas-based ARCO/Murray is handling design and construction of the project, with Kimley-Horn serving as the civil engineer. Stream Realty Partners will market the property for lease. Construction is set to begin in the fourth quarter.

April 14, 2023

Development Industrial Texas

Freehill Development to Build 227,200 SF Industrial Project in Leander, Texas

by Taylor Williams April 14, 2023

LEANDER, TEXAS — Locally based firm Freehill Development Co. will build Hero Way West, a 227,200-square-foot industrial project that will be located on a 16.8-acre site in the northern Austin suburb of Leander. The development will consist of three shallow-bay buildings with 28-foot clear heights. Charlie Strauss, Tom Weber, Trent Agnew and Josh Villarreal of JLL arranged joint venture equity with an undisclosed partner for the capitalization of the project. Michael Johnson and Chris McColpin, also with JLL, arranged floating-rate construction financing. Construction is set to begin this summer and to last about 12 months.

April 14, 2023

Leasing Activity Office Texas

Colliers Negotiates 116,161 SF Office Headquarters Lease in Houston

by Taylor Williams April 14, 2023

HOUSTON — Colliers has negotiated a 116,161-square-foot office headquarters lease at West Memorial Place I, a 331,000-square-foot building in Houston’s Energy Corridor area. The building is one of two at a complex that offers a fitness center, conference center, walking trails and an onsite restaurant and bar. David Carter and Jay Kyle of Colliers represented the tenant, MODEC International Inc., a supplier of mooring and fluid transfer systems for offshore energy companies, in the lease negotiations. Johnny Knight, Stewart Smith and Aaron Ander of Fuller Realty represented the undisclosed landlord.

April 14, 2023

Development Florida Southeast Student Housing

AARE Sunbelt, JW Capital Top Out 22-Story Terrazul Student Housing Development Near Florida International University

by John Nelson April 14, 2023

SWEETWATER, FLA. — AARE Sunbelt, an affiliate of Adam America Real Estate, and JW Capital Management have topped out Terrazul, a 22-story student housing development near Florida International University in Sweetwater. Upon completion, which is scheduled for the second quarter of 2024, the development will comprise 932 units and a total of 1,201 beds. Located along 107th Avenue, the property will also feature 647 parking spaces and 15,442 square feet of retail space. Amenities at Terrazul will include an indoor/outdoor study lounge, library and lounge areas, a gym and outdoor swimming pool. Units will feature private studio, one-, two- and four-bedroom layouts. Coastal Construction Group is the general contractor for the project, and Niles Bolton Associates is the architect.

April 14, 2023

Leasing Activity Office Texas

Black Stone Minerals Signs 55,082 SF Office Lease Renewal in Downtown Houston

by Taylor Williams April 14, 2023

HOUSTON — Houston-based energy firm Black Stone Minerals has signed a 55,082-square-foot office lease renewal at 1001 Fannin, a 47-story, 1.3 million-square-foot building in downtown Houston. Brad Beasley and Chip Colvill of Cushman & Wakefield represented the landlord, JMB Realty Corp., in the lease negotiations. Trey Strake, David Guion and Chris Oliver, also with Cushman & Wakefield, represented the tenant. The building, which includes 25,000 square feet of retail and restaurant space, recently underwent a capital improvement program that added new amenities, including a coffee shop, tenant lounge areas and a fitness center.

April 14, 2023

Development Florida Multifamily Southeast

Madison Communities Breaks Ground on 317-Unit Apartment Development in Ruskin, Florida

by John Nelson April 14, 2023

RUSKIN, FLA. — Madison Communities, a multifamily subsidiary of Madison Capital Group, has begun construction on Madison Palms, a 317-unit apartment community in Ruskin. Located at 210 Teco Road, the property will comprise 300,000 square feet of rentable space in the form of one-, two- and three-bedroom units. Apartments will range in size from 719 to 1,403 square feet. Amenities will include a clubhouse with a fitness center, outdoor lounge, swimming pool and deck with grilling stations, recreation areas and cabanas. A construction timeline for the project was not disclosed.

April 14, 2023

Acquisitions Industrial North Carolina Southeast

Arden Logistics Parks Purchases 174,000 SF Industrial Portfolio in Charlotte

by John Nelson April 14, 2023

CHARLOTTE. N.C. — Arden Logistics Parks (ALP), Arden Group’s industrial real estate operating platform, has purchased Northridge Business Center, a four-building, 174,000-square-foot industrial portfolio in Charlotte. Located at 50045, 5009-15, 5019-25 and 5029-35 W. W.T. Harris Blvd., the buildings range in size from 22,655 to 65,382 square feet. ALP acquired the portfolio from Fort Lauderdale-based SunCap Property Group for an undisclosed price.

April 14, 2023

Acquisitions Florida Multifamily Southeast

CBRE Investment Management Fund Acquires 455-Unit Village at Lake Lily Apartments in Metro Orlando

by John Nelson April 14, 2023

MAITLAND, FLA. — CBRE Strategic Partners U.S. Value 9 fund, an investment vehicle managed by CBRE Investment Management, has acquired The Village at Lake Lily, a 455-unit apartment community located in Maitland. Situated seven miles north of downtown Orlando, the community features ground-floor retail space, including two local restaurants. Community amenities include a fitness center, two swimming pools with hot tubs, grilling stations, a clubroom, package locker and dog run. The seller and sales price were not disclosed.

April 14, 2023

Development Kentucky Multifamily Southeast

Lendlease Completes Renovations of 170 Military Housing Units at Fort Campbell in Kentucky

by John Nelson April 14, 2023

FORT CAMPBELL, KY. — Lendlease has completed interior and exterior renovations of 170 units for Junior Enlisted families within the New Hammond Heights neighborhood at the privatized military housing community of Campbell Crossing at Fort Campbell. Beginning in April 2021, the renovations included the replacement of each home’s exterior, living room and kitchen upgrades, master bathroom remodels and the replacement of interior finishes and appliances. All windows and appliances have been upgraded to Energy Star-rated products, and other sustainability benefits have been implemented for the reduction of energy and water consumption. Renovations are part of the company’s $300 million, five-year plan for the community, which also includes new construction and removal of outdated units. Other projects underway at Campbell Crossing include the demolition and construction of 680 new homes for Junior Enlisted families.

April 14, 2023

Affordable Housing Development Massachusetts Multifamily Northeast

Chestnut Hill Realty to Develop 250-Unit Mixed-Income Residential Community in Boston

by Taylor Williams April 14, 2023

BOSTON — Locally based developer Chestnut Hill Realty Corp. will build Puddingstone at Chestnut Hill, a 250-unit mixed-income residential community at 201 Sherman Road in Boston’s Brookline area. The unit mix will consist of 90 one-bedrooms, 135 two-bedrooms and 25 three-bedrooms, with 50 residences designated as affordable housing for renters earning up to 30 or 50 percent of the area median income. Chestnut Hill will also construct a total of 377 parking spaces through a two-story deck and surface lots. MassDevelopment provided $126 million in both taxable and tax-exempt bonds for the project. A tentative completion date was not disclosed.

April 14, 2023

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