Property Type

Lovett Industrial Breaks Ground on 388,793 SF Spec Project in South Houston

by Taylor Williams October 27, 2022

HOUSTON — Locally based developer Lovett Industrial has broken ground on a 388,793-square-foot industrial project in South Houston. The project represents Phase I of 610 Business District, a 113-acre speculative development. Phase I will comprise a 291,459-square-foot, cross-dock building with 36-foot clear heights and a 97,223-square-foot, front-load building with 32-foot clear heights. Completion is slated for August 2023. More Architecture Studio designed the development, and Alston Construction is serving as the general contractor. Associated Bank provided construction financing for the project. CBRE has been tapped as the leasing agent.

October 27, 2022

Acquisitions Multifamily Texas

Venterra Realty Acquires 216-Unit Apartment Community in Duncanville, Texas

by Taylor Williams October 27, 2022

DUNCANVILLE, TEXAS — Houston-based investment firm Venterra Realty has acquired Bella Ruscello, a 216-unit apartment community in Duncanville, a southern suburb of Dallas. Built in 2007, the property features one- and two-bedroom units ranging in size from 655 to 1,074 square feet. Amenities include a pool, fitness center, community room with a theater and a paved walking trail. The seller was not disclosed. Venterra plans to implement a value-add program.

October 27, 2022

Florida Loans Multifamily North Carolina Southeast

NewPoint Provides $93.5M Freddie Mac Financing for Two Apartment Communities in Charlotte, Orlando

by John Nelson October 27, 2022

CHARLOTTE, N.C. AND ORLANDO, FLA. — NewPoint Real Estate Capital LLC has provided two separate Freddie Mac loans totaling $93.5 million for two apartment communities in Charlotte and Orlando. The borrower, an affiliate of American Landmark LLC, is using the loans to refinance both properties. The transactions include a $51 million loan for the 338-unit 8 Metro Station in Charlotte and a $42.5 million loan for the 279-unit Central Station on Orange in Orlando. Marc Cesare of NewPoint originated the 10-year, fixed-rate loans. The loans both featured five years of interest-only payments and provided cash-out options for American Landmark, an investment firm that manages over $5 billion in multifamily properties spanning approximately 32,000 units.

October 27, 2022

Development Industrial Texas

Proterra Properties Begins Work on 114,400 SF Industrial Flex Facility Near DFW Airport

by Taylor Williams October 27, 2022

GRAND PRAIRIE, TEXAS — Locally based developer Proterra Properties has begun construction of Carrier/360 Distribution Center, a 114,400-square-foot industrial flex facility that will be located near Dallas-Fort Worth International Airport in Grand Prairie. The rear-load facility will feature 32-foot clear heights, 120-foot truck court depths, 32 dock-high doors, two drive-in ramps and a high office finish. Completion is slated for July 2023. Proterra Properties will also handle leasing of the property.

October 27, 2022

Acquisitions Industrial Texas

Henry S. Miller Arranges Sale of 32,886 SF Warehouse in Northwest Houston

by Taylor Williams October 27, 2022

HOUSTON — Dallas-based Henry S. Miller Brokerage (HSM) has arranged the sale of a 32,886-square-foot warehouse in northwest Houston. According to LoopNet Inc., the property at 3724 Dacoma St. was built in 1976. Bill Bledsoe of HSM represented the buyer, an affiliate of Grubbs Volvo Cars Central Houston, in the transaction. Heath Donica and Jack Rathe of Stream Realty Partners represented the seller, an entity doing business as 3724 Dacoma Partners Ltd. The buyer will use the property to facilitate its expansion.

October 27, 2022

Industrial Leasing Activity New York Northeast

JLL Negotiates 568,543 SF Industrial Lease in The Bronx

by Taylor Williams October 27, 2022

NEW YORK CITY — JLL has negotiated a 568,543-square-foot industrial lease at 2505 Bruckner Blvd. in The Bronx. The newly built facility spans approximately 1 million square feet across two floors, and the undisclosed tenant will occupy the entirety of the lower level. Building features include 28- to 32-foot clear heights and a total of 106 loading docks, four drive-in doors and roughly 53,000 square feet of office space. Rob Kossar and Leslie Lanne led a JLL team that represented the landlord, Innovo Property Group, which developed the facility in partnership with Square Mile Capital, in the lease negotiations.

October 27, 2022

Acquisitions Colorado Georgia Maryland Self-Storage Southeast Tennessee Virginia

Ziff Purchases Six Self-Storage Properties in Southeast, Colorado Totaling 2,750 Units

by John Nelson October 27, 2022

MOUNT PLEASANT, S.C. — Ziff Real Estate Partners has purchased six self-storage properties in the Southeast and Colorado totaling 2,750 climate- and non-climate-controlled units, including boat and RV rental spaces. The Mount Pleasant-based investor purchased the assets for an undisclosed price via its ZRP Storage Opportunity Fund. The assets in the portfolio include four existing properties: Morristown Self Storage in Morristown, Tenn.; J&S Self Storage in Fountain, Colo.; Mocks Hwy 20 Self Storage in Cumming, Ga.; and Atlas Business Center in Gainesville, Ga. The portfolio also includes two buildings in Roanoke, Va., and Waldorf, Md., that were acquired for conversion to self-storage properties branded under the StoreEase flag. Combined the six assets span 340,000 net rentable square feet. The sellers were not disclosed.

October 27, 2022

Development Multifamily North Carolina Southeast

Alliance Residential Opens 335-Unit Broadstone Oak City Apartments in Raleigh

by John Nelson October 27, 2022

RALEIGH, N.C. — Alliance Residential Co. has opened Broadstone Oak City, a 335-unit apartment community located at 2911 Mid-Century Drive in Raleigh’s East Midtown district. Located near Capital Boulevard and I-440, the site formerly housed a Holiday Inn hotel that opened in the 1970s and was converted in 2005. Broadstone Oak City features studio, one-, two- and three-bedroom apartments ranging in size from 640 to 1,356 square feet. Amenities include a podcast studio, cold brew on tap, private workspaces, pet park, outdoor grills, resort-style saltwater pool with in-pool loungers, indoor fitness center, outdoor fitness space featuring Beaverfit equipment, 445 parking spaces and four electric vehicle charging stations. The design-build team includes LS3P, Cline Design Associates and McAdams. Rental rates range from $1,439 for a studio to $2,240 for a three-bedroom apartment, according to the property website.

October 27, 2022

Acquisitions Multifamily North Carolina Southeast Student Housing

Preiss Acquires 928-Bed Student Housing Community Near NC State in Raleigh, Plans $10M Renovation

by John Nelson October 27, 2022

RALEIGH, N.C. — The Preiss Co. has acquired Valentine Commons, a 928-bed student housing property located near the North Carolina State University (NC State) campus in Raleigh. Located steps away from campus at 3009 ME Valentine Drive, the property features an 11-story building offering 277 fully furnished units in two-, three- and four-bedroom configurations. Shared amenities include a swimming pool, rooftop terrace, private study rooms on every floor, a business center, aerobics room, fitness center, game room and a private parking garage. The seller and sales price were not disclosed, but Ben Roelke and Ian Walker of Newmark secured $77.3 million in financing for the acquisition through an unnamed life company lender. The five-year loan features full-term, interest-only payments. Preiss Co. is planning a $10 million capital improvement plan for Valentine Commons, the construction timeline of which was not disclosed.

October 27, 2022

Acquisitions Northeast Office Pennsylvania

Equus Capital Partners Sells 150,466 SF Office Campus in Metro Philadelphia

by Taylor Williams October 27, 2022

KING OF PRUSSIA, PA. — Locally based investment firm Equus Capital Partners has sold a 150,466-square-foot office campus in King of Prussia, located north of Philadelphia. Built in 1978, the two-building complex was 95 percent leased at the time of sale. Brett Grifo and Keith Braccia of Cushman & Wakefield represented Equus, which acquired the property in 2018 and invested roughly $5 million in capital improvements, in the transaction. The buyer and sales price were not disclosed.

October 27, 2022

Newer Posts

Older Posts