Property Type

25-Commerce-Park-Thornton-CO

THORNTON, COLO. — Rockefeller Group has purchased a 35.6-acre parcel in the Denver suburb of Thornton from Confluent Development for an undisclosed price. Confluent originally acquired the site in 2022 and obtained all entitlements and approvals for an industrial development. Rockefeller Group plans to utilize the site to build 25 Commerce Park, a three-building, 453,550-square-foot industrial park located at E. 152nd Avenue and Washington Street. The developer broke ground this week and completion is slated for first-quarter 2025. 25 Commerce Park will feature a 131,250-square-foot distribution center with 28-foot clear heights, 220 parking spaces, 31 dock-high doors and four drive-in doors; a 146,300-square-foot distribution facility with 28-foot clear heights, 224 parking spaces, 33 dock-high doors and four drive-in doors; and a 176,000-square-foot property with 32-foot clear heights, 231 parking spaces, 41 dock-high doors and four drive-in doors. Additionally, there are 39 trailer parking stalls available to tenants at each of the three buildings. The project team includes Grey Wolf as designer, Golden Triangle Construction as general contractor and Kimley Horn & Associates as civil engineer. Todd Witty and Daniel Close of CBRE represented the buyer in the land acquisition and will market the project upon completion.

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SAN ANTONIO — Locally based developer Zachry Hospitality will develop a 200-room hotel within the Hemisfair Park mixed-use development in downtown San Antonio. The hotel will operate under the Curio Collection by Hilton brand and will feature a signature restaurant and bar, café, rooftop bar, underground speakeasy bar, pool with cabanas, spa, fitness center and a public garden. Jay Wagley, Frank Piasta, Bond Foster and Ham Berry of CBRE arranged construction debt on behalf of Zachry Hospitality. Interbank is the senior lender on the construction loan.

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BarnesNoble-Third-Street-Promenade_Santa-Monica-Calif

SANTA MONICA, CALIF. — Barnes & Noble will open a store within a 21,000-square-foot space at Third Street Promenade in Santa Monica. This marks the return of the retailer to the property following a five-year hiatus. Other new tenants at the center include fitness brand JOHN REED and pickleball venue Pickle Pop. 

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Alligood-Industrial-Park_Lebanon-Tenn

LEBANON, TENN. — JLL Capital Markets has arranged a $40 million loan for the acquisition of Alligood Industrial Park, a two-building industrial development located in Lebanon, roughly 30 miles east of Nashville. Totaling 410,370 square feet, the development features 32-foot clear heights, 135-foot truck courts, 76 dock doors and ESFR sprinklers. Aldon Cole, Brian Carlton and Brad Vansant of JLL secured the five-year, fixed-rate financing on behalf of the buyer, Pearlmark Real Estate. 

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FORT WORTH, TEXAS — Simmons Bank has signed a 26,982-square-foot office lease renewal at Overton Centre, a two-building, 417,465-square-foot complex in southwest Fort Worth. The property offers amenities such as a newly renovated lobby, deli and a fitness center. Matt Carthey and Jake Neal of Holt Lunsford Commercial represented the landlord, an entity doing business as FLDR/TLC Overton Centre LP, in the lease negotiations. Simmons Bank was self-represented.

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GREENSBORO, N.C. — Capstone Cos. has brokered the $13.5 million sale of Cottage Gardens, an apartment community located in Greensboro. Built in 1960, the property totals 176 units. Ron Corrao, Eric Liebich, Josh Greenwald, Scott Fuller, Matt Weinstein and Dane Lozier of Capstone represented the undisclosed seller in the transaction. VanRock Real Estate was the buyer. 

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CHARLOTTE, N.C. — Trilogy Investment Group and Pinnacle Partners are underway on a 68-unit build-to-rent townhome community in the North Davidson (NoDa) market of Charlotte. This marks the second development for the joint venture, which purchased the project from Pulte Homes during construction. Pulte will continue to serve as the construction manager, with the community scheduled for completion in phases through the fourth quarter of 2024. Monthly rental rates begin at $2,800, according to the property website. 

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HOUSTON — Colliers has negotiated the sale of a 5,785-square-foot office building located at 13623 Perry Road in northwest Houston. The single-story building was constructed on 2.6 acres in 2002. Tom Condon Jr. and John Grimsley of Colliers represented the undisclosed seller in the transaction. Kariliz Perez of Stone & Fields represented the buyer, Antelmo Investments, which plans to use the property as a funeral home. Lone Star Bank provided acquisition financing for the deal.

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NORTHBROOK, ILL. — Focus, together with development partner Fort Union, is scheduled to break ground on a new electric vehicle sales, service and distribution center for Tesla in Northbrook, a northern suburb of Chicago. Focus is hosting a groundbreaking event for the 50,000-square-foot project on Wednesday, Oct. 4. According to a press release, the project will assist the city in achieving the goals set in its 2021 Climate Action Plan.

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