Property Type

High 5 Entertainment to Open 70,000 SF Venue at The Farm in Allen

by Taylor Williams September 22, 2022

ALLEN, TEXAS — High 5 Entertainment, an Austin-based concept, will open a 70,000-square-foot venue at The Farm in Allen, a 135-acre mixed-use development located on the northeastern outskirts of Dallas. In addition to craft food and beverages, the entertainment center will feature bowling, laser tag, axe throwing, escape rooms, minigolf and private event spaces. The main facility will span 45,000 square feet, with the outdoor minigolf course accounting for the remaining 25,000 square feet. The opening is slated for fall 2023. JaRyCo is the master developer of The Farm in Allen.

September 22, 2022

Acquisitions Industrial Texas

Colliers Arranges Sale of 27,150 SF Warehouse in North Houston

by Taylor Williams September 22, 2022

HOUSTON — Colliers has arranged the sale of a 27,150-square-foot warehouse located at 1612 Southcreek Lane in North Houston. According to LoopNet Inc., the single-tenant structure was built in 2014. The three-acre, crane-served site is situated within Candle Ridge Business Park. Jason Tangen of Colliers represented the seller, an affiliate of TRECAP Management, in the transaction. Todd Moore and Connor Duffy, also with Colliers, represented the buyer, an entity doing business as GBP II SIP.

September 22, 2022

Leasing Activity Restaurant Retail Texas

Trademark Welcomes New Retailers, Restaurants to WestBend in Fort Worth

by Taylor Williams September 22, 2022

FORT WORTH, TEXAS — Trademark Property Co. has welcomed seven new tenants to WestBend, the locally based developer’s mixed-use destination in Fort Worth. Four food and beverage concepts — fast casual eatery Sweetgreen, confectionary Van Leeuwen, burger chain Shake Shack and global culinary experience Quince — are scheduled to open before the end of the year. The Shade Store, a concept that specializes in window shades and blinds, will also debut in the fourth quarter. In addition, ear piercing salon Rowan and Karl’s Fishing & Outdoors are now open. The seven new leases total 17,102 square feet.

September 22, 2022

Development Industrial South Carolina Southeast

Glenstar, Creek Lane Capital to Develop $415M Industrial Park in Upstate South Carolina

by John Nelson September 22, 2022

GAFFNEY, S.C. — Chicago-based Glenstar and Creek Lane Capital are partnering to develop Cherokee Commerce Center 85, a 3.6 million-square-foot industrial park in Gaffney. The developers plan to invest approximately $415 million to develop six separate facilities in multiple phases. Situated equidistant between Greenville, S.C., and Charlotte, the new industrial park will span 290 acres along I-85. The first two facilities — the 500,000-square-foot (expandable to 1.3 million square feet) Building Two and 278,200-square-foot Building Four — are expected to begin construction in January 2023, with delivery slated for fourth-quarter 2023. Master planning at Cherokee Commerce Center 85 shows potential for up to 1.7 million square feet under one roof to accommodate bulk industrial users. The Colliers industrial brokerage team of Garrett Scott, John Montgomery, Brockton Hall and Dillon Swayngim has been selected to handle leasing for the park.

September 22, 2022

Leasing Activity Office Texas

Chicago Title Signs 20,000 SF Office Lease at The Quad in Uptown Dallas

by Taylor Williams September 22, 2022

DALLAS — Chicago Title has signed a 20,000-square-foot lease as the inaugural tenant at The Quad, a 345,000-square-foot office and retail building in Uptown Dallas that is being developed by Stream Realty Partners. Ryan Evanich and Marissa Parkin internally represented the landlord in the lease negotiations. Campbell Henry of Lincoln Property Co. represented Chicago Title. The 12-story building is scheduled for an early 2024 completion.

September 22, 2022

Development Loans Multifamily Southeast Tennessee

Square Mile Capital Provides $162M Construction Loan for Society Nashville Apartment Tower

by John Nelson September 22, 2022

NASHVILLE, TENN. — Square Mile Capital has provided a $162 million construction loan for Society Nashville, a 16-story apartment tower located at 915 Division St. in the city’s Gulch district. The borrower is a development partnership between PMG, New Valley and RMWC. The developers also received $35 million in equity through CrowdStreet. Designed by Baker Barrios Architects, Society Nashville will rise 16 stories and include 502 residential units (both traditional and co-living), approximately 8,400 square feet of retail space and 485 parking spaces. Planned amenities include a pool with a pool deck, fitness center and coworking spaces. The developers plan to deliver Society Nashville in 2024.

September 22, 2022

Acquisitions Development Florida Multifamily Southeast

CBRE Brokers $122.6M Sale of Waterfront Development Site on South Florida’s Fisher Island

by John Nelson September 22, 2022

FISHER ISLAND, FLA. — CBRE has brokered the sale of a 6.5-acre site on Fisher Island, an island city in Miami-Dade County. An unnamed private investor purchased the development site, the last available waterfront parcel on Fisher Island, for $122.6 million. No future development plans were disclosed, but CBRE says the parcel is approved for condominium development. Timothy Gifford and Nilmaris Negron with CBRE represented the seller, also a private investor, in the transaction. The site offers unobstructed views of the Atlantic Ocean, Miami Beach, Biscayne Bay and downtown Miami’s skyline. Reached only by yacht, private ferry or helicopter, Fisher Island represents the wealthiest zip code in the United States, according to Gifford. The island features a members-only country club with a 35-hole golf course and racquet club, as well as two deep-water marinas, a 15-room boutique hotel for members and the historic Vanderbilt Mansion Clubhouse.

September 22, 2022

Loans Multifamily Northeast Pennsylvania

Natixis Provides $150M Loan for Refinancing of Philadelphia Apartment Community

by Taylor Williams September 22, 2022

PHILADELPHIA — French investment bank Natixis has provided a $150 million loan for the refinancing of LVL North, a 410-unit apartment community located just north of downtown Philadelphia at 510 Broad St. The property includes 108,000 square feet of commercial space that is anchored by grocer Giant. Kelly Gaines, Chad Orcutt and Blaine Fleming of JLL arranged the five-year, floating-rate loan on behalf of the borrower, Philadelphia-based Alterra Property Group.

September 22, 2022

Acquisitions Georgia Retail Southeast

M Street, Highline Purchase Conyers Commons Shopping Center in Metro Atlanta for $17M

by John Nelson September 22, 2022

CONYERS, GA. — A joint venture between M Street Holdings and Highline Real Estate Capital has acquired Conyers Commons, a 118,916-square-foot shopping center in the Atlanta suburb of Conyers. The undisclosed seller sold the property for approximately $17 million, or $142.53 per square foot. Chris DeCoufle, Kevin Hurley and Matt Karempelis of CBRE brokered the transaction on behalf of the seller, and BankUnited provided acquisition financing for M Street and Highline. Conyers Commons represents the joint venture’s second transaction in the Atlanta market this year. Anchored by Ross Dress for Less and Bealls Outlet, Conyers Commons’ tenant roster includes pOpShelf, Smoothie King, Mattress Firm, CitiTrends, Panda Express and Kirkland’s. The property is shadow-anchored by Target and is situated adjacent to a 240-unit single-family neighborhood under construction.

September 22, 2022

Acquisitions Massachusetts Northeast Office

FoxRock Properties Acquires 157,229 SF Office Complex in Burlington, Massachusetts

by Taylor Williams September 22, 2022

BURLINGTON, MASS. — Locally based investment firm FoxRock Properties has acquired 1 Van de Graaff Drive, a 157,229-square-foot office complex located in the northern Boston suburb of Burlington. The property, which was 73 percent leased at the time of sale, offers a cafeteria and a fitness center. Robert Griffin, Edward Maher, Matthew Pullen and Samantha Hallowell of Newmark represented the undisclosed seller and procured the buyer in the transaction. The sales price was also not disclosed.

September 22, 2022

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