Property Type

Cushman & Wakefield Brokers Sale of 360-Unit Legend Park Apartments in Lawton, Oklahoma

by Taylor Williams October 25, 2023

LAWTON, OKLA. — Cushman & Wakefield has brokered the sale of Legend Park, a 360-unit apartment community in Lawton, located about 90 miles southwest of Oklahoma City. Built between 2010 and 2012, Legend Park offers one-, two- and three-bedroom units and amenities such as a pool, fitness center, basketball court, dog park, business center, playground and outdoor grilling and dining areas. Martin Bynum, Craig Hey and Stephen Pestinger of Cushman & Wakefield represented the undisclosed seller in the transaction. The buyer and sales price were also not disclosed.

October 25, 2023

Development Industrial Texas

GTIS Partners to Develop 272,160 SF Warehouse Near DFW Airport

by Taylor Williams October 25, 2023

GRAPEVINE, TEXAS — New York City-based development and investment firm GTIS Partners has acquired 17 acres in Grapevine, located near Dallas-Fort Worth International Airport, with plans to build a 272,160-square-foot warehouse. The site offers proximity to State Highway 121, I-635, State Highway 114 and I-35, and the facility will feature 36-foot clear heights, 135-foot truck court depths, an ESFR sprinkler system and build-to-suit office space. Construction is scheduled to begin in March 2024 and to be complete before the end of that year. Jordan Roeschlaub, Dustin Stolly, Dustin Volz, Stephen Bailey, Dom Espinosa, Zach Riebe, Chase Tagen, Eden Abraham and Chloie Mercer arranged joint venture equity with an undisclosed partner on behalf of GTIS Partners.

October 25, 2023

Development Georgia Seniors Housing Southeast

Canterbury Court in Atlanta Expands With New Independent Living Tower, Seniors Housing Hub

by John Nelson October 25, 2023

ATLANTA — Canterbury Court, a continuing care retirement community in Atlanta’s Buckhead district, has doubled in size with its new expansion. The property now includes two new additions: The Garden Tower, a high-rise that features 105 independent living apartments and a ground-level restaurant; and Monarch Pavilion, a four-story building that offers seniors housing units, amenities and services in a neighborhood setting. Monarch Pavilion comprises Azalea View, a new assisted living community; Wisteria Park, a memory care destination centered around a courtyard garden; and Sage Glen, a skilled nursing neighborhood that features dedicated physical, speech and occupational therapists. The construction period for the expansion lasted approximately two years. Greystone Communities served as the project’s financial advisory and financial consultant, and JLL provided project management services. The design-build team included architect Rule Joy Trammell + Rubio and general contractor Brasfield & Gorrie.

October 25, 2023

Loans Maryland Southeast Student Housing

JLL Secures $63M Refinancing for Student Housing Tower in Hyattsville, Maryland

by John Nelson October 25, 2023

HYATTSVILLE, MD. — JLL has secured a $63 million refinancing for Vie Towers, a 910-bed student housing community located in the Washington, D.C., suburb of Hyattsville. The high-rise community serves students attending both Howard University and the University of Maryland. Doug Opalka, Dan Kearns, Jayme Nelson and Owen Claypool of JLL worked on behalf of the borrowers, Safanad and Vie Management, to secure the three-year, floating-rate loan through Värde Partners. Built in 2006 and renovated in 2019, the community offers a mix of two-, three- and four-bedroom, fully furnished units with bed-to-bath parity. Shared amenities include a rooftop pool deck, modern fitness center, yoga studio and coworking and creative space.

October 25, 2023

Acquisitions Florida Retail Southeast

CBRE Brokers $49.3M Sale of Grocery-Anchored Shopping Center in West Miami

by John Nelson October 25, 2023

MIAMI — CBRE has brokered the $49.3 million sale of Trail Plaza, a grocery-anchored shopping center located on 17 acres at the corner of SW 8th Street and SW 67th Avenue in west Miami. Boston-based Longpoint Realty Partners LP purchased the 181,558-square-foot shopping center from an unnamed client advised by MetLife Investment Management. Casey Rosen and Dennis Carson of CBRE represented the seller in the transaction. Built in 1987, Trail Plaza was 99 percent leased at the time of sale to tenants including grocer Fresco y Mas, Walgreens, Harbor Freight Tools, Party Depot and six outparcel tenants.

October 25, 2023

Acquisitions Multifamily North Carolina Southeast

Berkadia Arranges Sale of Two-Property Multifamily Portfolio in Charlotte Totaling 292 Units

by John Nelson October 25, 2023

CHARLOTTE, N.C. — Berkadia has arranged the sale of a two-property multifamily portfolio in Charlotte. The assets include Hamilton Square, a 120-unit property located at 6017 Williams Road, and Heatherwood Trace, a 172-unit community located at 5600 Paces Glen Ave. Caleb Troop and Thomas Colaiezzi of Berkadia’s Charlotte office represented the seller, European Investment Management Corp. (EIMC), in the transaction. The buyer and sales price were not disclosed.

October 25, 2023

Acquisitions Industrial Texas

SRS Arranges Sale of 74,758 SF Industrial Building in Garland, Texas

by Taylor Williams October 25, 2023

GARLAND, TEXAS — SRS Real Estate Partners has arranged the sale of a 74,758-square-foot industrial building in the northeastern Dallas suburb of Garland. The building is one of two at the 194,000-square-foot Marquis Logistics Center, which was delivered earlier this year. Shannon Johnston and Joseph Cooper of SRS represented the seller, Reserve Capital Partners, which developed the larger project in partnership with Trinity Investors, in the transaction. Peirce Williams and Frank Bullock of Henry S. Miller represented the buyer, Kandi America, a manufacturer of electric off-road vehicles.

October 25, 2023

Acquisitions Retail South Carolina Southeast

SVN Blackstream Selected to Market Sale of WestGate Mall in Spartanburg, South Carolina

by John Nelson October 25, 2023

SPARTANBURG, S.C. — Two entities of SVN | Blackstream — Reedy River Retail and Second Story Real Estate Management — have been retained to offer for sale the leasehold interest of WestGate Mall, an enclosed regional shopping mall in Spartanburg. The mall’s anchor tenants include Belk, Dillards, JC Penney and Costco, which is located on a separate parcel and not included in the sale. The sale includes 431,306 square feet of gross leasable area as part of a ground lease that has extension options through 2084. WestGate Mall, which is the only enclosed mall in Spartanburg County, is located on a 52-acre site along I-26. The asset is currently 82 percent occupied. The mall’s former owner, Chattanooga-based CBL Properties, filed for bankruptcy in 2020 and the mall is now in receivership, according to local media outlets.

October 25, 2023

Industrial Leasing Activity Lee & Associates Texas

Lee & Associates Negotiates 22,200 SF Industrial Lease in Arlington

by Taylor Williams October 25, 2023

ARLINGTON, TEXAS — Lee & Associates has negotiated a 22,200-square-foot industrial lease in Arlington. According to LoopNet Inc., the building at 1208 Commercial Blvd. N was built on 1.2 acres in 1995 and features 20-foot clear heights, two dock-high doors and three drive-in doors. Stephen Williamson of Lee & Associates represented the landlord, CPL Investments, in the lease negotiations. Eddie Yoo of Landmark Realty Group represented the tenant, logistics firm B.R. International USA.

October 25, 2023

Leasing Activity Office Texas

Weaver Signs 11,000 SF Office Lease in The Woodlands, Texas

by Taylor Williams October 25, 2023

THE WOODLANDS, TEXAS — Accounting firm Weaver has signed an 11,000-square-foot office lease at One Hughes Landing in The Woodlands, about 30 miles north of Houston. The firm plans to relocate from nearby Conroe in early December. Scott Morse and Katherine Jessen of Citadel Partners represented Weaver in the lease negotiations. Jillian Fredericks and Norm Munoz of Colliers represented the landlord, Howard Hughes Holdings Inc.

October 25, 2023

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