Property Type

PTM to Develop 500,000 SF Second Phase of Mixed-Use EDGE Collective Project in St. Petersburg, Florida

by John Nelson November 27, 2023

ST. PETERSBURG, FLA. — PTM Partners will expand EDGE Collective, a mixed-use development in St. Petersburg, with a 500,000-square-foot second phase. Phase II will feature 350 multifamily residential units in studio, one-, two- and three-bedroom layouts across two buildings, as well as 45,000 square feet of commercial and retail space and 260 parking spaces. The first phase of the development comprises a 163-room Moxy Hotel and a redevelopment of 1246 Central Avenue building, which features 16,000 square feet of office space that will be available for tenancy in early 2024 and 8,000 square feet of ground-floor food-and-beverage retail space.

November 27, 2023

Alabama Development Restaurant Retail Southeast

Topgolf Opens Third Alabama Venue in Mobile

by John Nelson November 27, 2023

MOBILE, ALA. — Topgolf has opened a new venue in Mobile, marking the third in Alabama for the Dallas-based brand. Situated within McGowan Park Shopping Center, the venue features 60 outdoor climate-controlled hitting bays across two levels, as well as a full-service restaurant, 22-foot video wall and more than 100 TVs. According to the company, Topgolf Mobile will employ roughly 200 associates and is the 95th outdoor Topgolf venue in the country.

November 27, 2023

Acquisitions Florida Retail Southeast

Benderson Acquires 85,000 SF Shopping Center in Delray Beach, Florida

by John Nelson November 27, 2023

DELRAY BEACH, FLA. — Sarasota, Fla.-based Benderson Development has acquired Linton Commons, an 85,000-square-foot shopping center located in Delray Beach, a city in South Florida’s Palm Beach County. Tenants at the property include RH Outlet, Guitar Center, PetSmart, Chipotle Mexican Grill and AT&T. Matt Berres, Samer Khalil and Karick Brown of Newmark represented the undisclosed, privately held seller in the transaction. The Newmark team also procured Benderson as the buyer in cooperation with Newmark’s Bert Sanders. The sales price was not disclosed. Benderson’s portfolio in the state also includes a freestanding Publix in Pompano Beach, which was acquired in August, and a Publix-anchored shopping center in Englewood.

November 27, 2023

Acquisitions District of Columbia Multifamily Southeast

Marcus & Millichap Brokers Sale of 26-Unit Apartment Building in D.C.

by John Nelson November 27, 2023

WASHINGTON, D.C. — Marcus & Millichap has brokered the sale of a 26-unit apartment building located at 2724 11th St. NW in the Columbia Heights neighborhood of Washington, D.C. The transaction follows a decade of legal disputes and a Chapter 11 bankruptcy filing by the seller. Nick Murray, Marty Zupancic and John Slowinski of Marcus & Millichap arranged the sale. The undisclosed buyer plans to implement a redevelopment at the property. The sales price was not disclosed.

November 27, 2023

Healthcare Leasing Activity Maryland Southeast

MedStar Signs 19,739 SF Lease at Medical Office Building in Annapolis, Maryland

by John Nelson November 27, 2023

ANNAPOLIS, MD. — MedStar Medical Group has signed a 19,739-square-foot lease at a medical office building (MOB) located at 810 Bestgate Road in Annapolis, roughly 30 miles outside of Baltimore. The new lease marks an expansion of the healthcare network’s presence at the property, which totals 100,000 square feet across four stories. MedStar now occupies 31,000 square feet at the building, which is fully leased. Stephanie Caronna represented the landlord, St. John Properties, in the lease negotiations on an internal basis. Paige Wingate and Matt Sullivan of Cushman & Wakefield represented the tenant. MedStar plans to open a surgery center at the property in March 2024.

November 27, 2023

Data Centers Development Industrial Texas

H5 Data Centers to Undertake Expansion at Downtown San Antonio Campus

by Taylor Williams November 27, 2023

SAN ANTONIO — Denver-based owner-operator H5 Data Centers will undertake an expansion project at its San Antonio campus, which is located at 100 Taylor St. in the downtown area. The expansion will add turnkey colocation space that can support an additional 340 cabinets and up to 1.5 megawatts of additional power capacity. A construction timeline was not disclosed. The campus currently consists of two buildings totaling 85,000 square feet.

November 27, 2023

Acquisitions Arizona Retail Western

Crow Holdings Buys 34,151 SF Shops at Sossaman Retail Center in Mesa, Arizona

by Amy Works November 27, 2023

MESA, ARIZ. — A joint venture that Crow Holdings Capital manages has purchased The Shops at Sossaman, a neighborhood shopping center in Mesa. Abington Emerson Investments sold the asset for $8.1 million. Built in 2002, The Shops at Sossaman features 34,151 square feet of retail space. At the time of sale, the property was fully occupied by a variety of tenants, including Banner Health Physical Therapy, East Valley Pet Urgent Care, Empower Academy and Crave Pizza. The asset is located at 7641 E. Guadalupe Road. Steve Julius, Jesse Goldsmith and Chase Dorsett of Newmark represented the buyer and seller in the deal.

November 27, 2023

Arizona Loans Retail Western

Gantry Arranges $7.8M Refinancing for Retail Center in Marana, Arizona

by Amy Works November 27, 2023

MARANA, ARIZ. — Gantry has secured a $7.8 million permanent loan to refinance 26,387 square feet of retail space within The Shoppes at Continental Ranch at 9110-9150 Silverbell Road in Marana, a suburb of Tucson. Tony Kaufmann and Alex Poulos of Gantry arranged the financing for the borrower, a California-based retail developer. The 10-year permanent loan features a fixed rate locked at application and a 30-year amortization schedule. The retail space includes an inline strip and four pad buildings. An independently owned Safeway grocery store shadow anchors the property. Current tenants include a mix of national and local dining, professional services and essential retailers.

November 27, 2023

Industrial Leasing Activity Texas

Partners Real Estate Negotiates 13,410 SF Industrial Lease in Dallas Design District

by Taylor Williams November 27, 2023

DALLAS — Partners Real Estate has negotiated a 13,410-square-foot industrial lease in the Dallas Design District. According to LoopNet Inc., the single-tenant property at 2050-2062 Irving Blvd. was built in 1952 and renovated earlier this year. Building features include 14-foot clear heights and two drive-in bays. Hanes Chatham Jr. of Partners represented the landlord, an entity doing business as 2050 Irving Blvd., in the lease negotiations. DeAnna Green of Nydan Group represented the tenant, The Blueprint University.

November 27, 2023

Acquisitions California Multifamily Western

Marcus & Millichap Brokers $2.2M Sale of Apartment Building in Los Angeles

by Amy Works November 27, 2023

LOS ANGELES — Marcus & Millichap has arranged the sale of 2900 Francis Avenue, a multifamily property located in Los Angeles’ Koreatown neighborhood. An undisclosed seller sold the asset to a private investor for $2.2 million, or $225,000 per unit. Jason Tuvia and Joshua Yeager of Marcus & Millichap represented the seller and secured the buyer in the transaction. Built in 1922, the value-add property features 10 one-bedroom/one-bath apartments that are subject to Los Angeles’ rent control laws.

November 27, 2023

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