Property Type

CBRE Arranges Sale of MOB Portfolio Totaling 192,363 SF in Fayetteville, Georgia

by John Nelson July 31, 2023

FAYETTEVILLE, GA. — CBRE has arranged the sale of a medical office building (MOB) portfolio spanning 192,363 square feet across two buildings in Fayetteville, roughly 20 miles outside of Atlanta. Located at 1265 and 1267 Highway 54, the properties are directly connected to the 310-bed Piedmont Fayette Hospital. Lee Asher, Zack Holderman, Jordan Selbiger, Trent Jemmett and Cole Reeth of CBRE represented the seller, Atlanta-based Piedmont Healthcare, in the transaction. A joint venture between Remedy Medical Properties and Kayne Anderson Capital Advisors LP acquired the portfolio for an undisclosed price.

July 31, 2023

Company News Development Georgia Restaurant Retail Southeast

Chick-fil-A to Test Two New Restaurant Concepts in Metro Atlanta, New York City

by John Nelson July 31, 2023

ATLANTA AND NEW YORK CITY — Chick-fil-A has announced plans for two new restaurant concepts. Beginning in 2024, the brand will open an elevated drive-thru concept in metro Atlanta as well as a walk-up restaurant in New York City. Both concepts are designed to enhance efficiency and convenience, with plans for the drive-thru restaurant including a kitchen built above the drive-thru lanes and dedicated lanes for mobile orders. Targeted toward urban areas with heavy foot traffic, the walk-up concept will allow guests to order through the Chick-fil-A app and pick up items at the walk-up windows. “Digital orders make up more than half of total sales in some markets… so we know our customers have an appetite for convenience,” says Khalilah Cooper, Chick-fil-A’s executive director of restaurant design. “The locations for these tests were intentionally selected with the customers in mind, giving them more control over their desired experience and cutting down wait time.” The locations of the two new concepts were not disclosed. Chick-fil-A is a privately held, family-owned fast-casual restaurant chain based in Atlanta. The company employs more than 170,000 team members at more than 2,700 restaurants across 47 states, Washington, D.C., Puerto Rico and Canada.

July 31, 2023

Acquisitions Development Industrial Texas

VanTrust Real Estate Plans Two Spec Industrial Buildings Totaling 702,000 SF in Terrell, Texas

by Taylor Williams July 31, 2023

TERRELL, TEXAS — Kansas City-based developer VanTrust Real Estate has acquired two industrial development sites totaling 60.4 acres in Terrell, an eastern suburb of Dallas. The company plans to develop two speculative buildings totaling 702,000 square feet. Building 1 will be a 196,560-square-foot, rear-load facility. Building 2 will total 505,440 square feet and feature a cross-dock configuration. Both buildings will be marketed to e-commerce and third-party logistics users alike. Demian Salmon of Stream Realty Partners represented the undisclosed seller in the land deal. A construction timeline was not disclosed.

July 31, 2023

Development Loans Multifamily Texas

Forman Capital Provides $19.5M Construction Loan, Equity for Metro Austin Multifamily Project

by Taylor Williams July 31, 2023

TAYLOR, TEXAS — Forman Capital, a direct lender based in Florida, has provided a $19.5 million construction loan and a preferred equity investment for Castlewood Townhomes. The 64-unit multifamily project will be located in Taylor, about 35 miles northwest of Austin. The borrower, Townbridge Capital, plans to develop three- and four-bedroom townhomes that will range in size from 1,500 to 1,900 square feet. Residences will feature detached two-car garages, quartz countertops, stainless steel appliances and various pieces of smart technology. A construction timeline was not disclosed.

July 31, 2023

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Brokers Sale of 304-Unit Self-Storage Facility in Sugar Land, Texas

by Taylor Williams July 31, 2023

SUGAR LAND, TEXAS — Marcus & Millichap has brokered the sale of Sugar Land RV/Boat & Self Storage, a facility located on the southwestern outskirts of Houston. Built on six acres in 1999, the property consists of 304 non-climate-controlled units, one warehouse/workshop space, eight covered parking spots and six outdoor parking spaces for a total of 95,942 net rentable square feet. Dave Knobler of Marcus & Millichap represented the seller, a private investor, in the transaction and procured the buyer, a New York-based limited liability company. Both parties requested anonymity.

July 31, 2023

Acquisitions Healthcare Retail Texas

SRS Real Estate Arranges $6M Sale of Net-Leased Medical Retail Property in South Dallas

by Taylor Williams July 31, 2023

DALLAS — SRS Real Estate Partners has arranged the $6 million sale of a single-tenant, 5,000-square-foot medical retail property in South Dallas that is net-leased to Total Point Urgent Care. Britt Raymond and Kyle Fant of SRS represented the seller, a Kansas-based investor, in the transaction. The buyer was a Florida-based private investor that acquired the asset via a 1031 exchange. The property traded at a cap rate of 6.6 percent.

July 31, 2023

Industrial Leasing Activity Texas

Holt Lunsford Negotiates 49,280 SF Industrial Lease Renewal in West Dallas

by Taylor Williams July 31, 2023

DALLAS — Holt Lunsford Commercial has negotiated a 49,280-square-foot industrial lease renewal in West Dallas. Canon Shoults and Maddy Canty of Holt Lunsford represented the landlord, AEW Capital Management, in the lease negotiations. Jim Svidron with NAI Robert Lynn represented the tenant, Production & Rigging Resources Inc., which provides logistical services for the entertainment industry.

July 31, 2023

Development Midwest Missouri Multifamily

CRG Opens Chapter at The Streets Luxury Apartments in Suburban St. Louis

by Kristin Harlow July 31, 2023

ST. CHARLES, MO. — CRG has opened Chapter at The Streets, a 245-unit luxury apartment community in the St. Louis suburb of St. Charles. The five-story property is located at 333 Mulholland Drive. Chapter at The Streets offers studio, one- and two-bedroom floor plans ranging in size from 504 to 1,141 square feet. Monthly rents range from $1,475 to $2,390. Amenities include a fitness center, resident lounge, coworking space, pet grooming station, pool, sun deck and grilling stations. The community offers AT&T wireless connectivity in all common areas. Aligning with CRG’s mission to incorporate neighborhood-inspired artwork into its developments, Chapter at The Streets features a mural along the building’s parking garage co-designed by Media-Objectives and artist Wylie Caudill. The mural references the history and location of St. Charles. The project is situated within The Streets of St. Charles mixed-use development, which spans 27 acres and features numerous retail, restaurant and entertainment offerings, including an eight-screen AMC movie theater. The Streets also houses office space, two hotels and public spaces. Residents of Chapter at The Streets also enjoy direct access to the 240-mile Katy Trail. The project team included Chicago-based Humphreys & Partners Architects and Chesterfield, Mo.-based Brinkmann Constructors. St. Louis-based …

July 31, 2023

Loans Midwest Minnesota Multifamily

JLL Provides $34.6M Loan for Refinancing of Savor Apartments in West St. Paul

by Kristin Harlow July 31, 2023

WEST ST. PAUL, MINN. — JLL Capital Markets has provided a $34.6 million Fannie Mae loan for the refinancing of Savor Apartments in West St. Paul. The 200-unit, mid-rise apartment complex was built in 2022. Amenities include an entertainment suite, community room, game room, coffee bar, rooftop lounge and sky deck, fitness center and work-from-home suites. Scott Streiff and Scott Loving of JLL originated the 10-year, fixed-rate loan on behalf of the borrower, Roers Cos.

July 31, 2023

Illinois Industrial Leasing Activity Midwest

Kuriyama of America Signs 329,210 SF Lease at Industrial Facility Under Construction in Huntley, Illinois

by Kristin Harlow July 31, 2023

HUNTLEY, ILL. — Kuriyama of America, an industrial hose supplier, has signed a 329,210-square-foot lease at Huntley Commercial Center in the Chicago suburb of Huntley. The tenant will occupy 60 percent of the 540,960-square-foot development, which is slated for completion in the fourth quarter. Adam Marshall and Mark Deady of Newmark represented ownership, Huntley Investment Partners, which is a partnership between Craig Realty Group Inc., The Prime Group Inc. and The Capital Cos.

July 31, 2023

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