CHICAGO — Matthews Real Estate Investment Services has negotiated the $6.2 million sale of a five-property multifamily portfolio totaling 95 units in Chicago. The assets are located on the city’s West Side on North Waller, North Lotus, West Augusta, West Washington and North Central avenues. Finley Askin of Matthews represented both the seller, a local private investor, and the Brooklyn, N.Y.-based buyer.
GAHANNA, OHIO — The Cooper Commercial Investment Group has arranged the $1.7 million sale of a restaurant building occupied by Taco Bell in Gahanna, a northwest suburb of Columbus. The property serves as an outparcel to the Hunter’s Ridge shopping center. Dan Cooper of Cooper Group represented the seller, a private investment group based in Florida. Cooper also procured the undisclosed buyer. The sales price represents a cap rate of 4.5 percent and $694 per square foot. Taco Bell signed a 20-year lease extension at the property in 2020.
COWETA COUNTY, GA. — FREYR Battery (NYSE: FREY), a Luxembourg-based battery manufacturer focused on sustainability, has announced plans to open a new plant in Coweta County, about 40 miles south of Atlanta. The project represents a total capital investment of approximately $2.6 billion. The exact location of the manufacturing facility, which will be known as Giga America, was not disclosed. However, The Atlanta Journal-Constitution reports that the site will span 368 acres and will be situated near distribution centers for Amazon and Shopify. All of these facilities offer proximity to I-85, which connects Atlanta with Coweta County. Community and company leaders expect to create more than 700 new jobs over the next seven years. A timeline for completion was not disclosed. The local newspaper also reported that FREYR Battery considered more than 150 sites across 25 different states before settling on this specific location. The company’s products are designed to decarbonize transportation and energy systems, including as components of electric vehicles. “As we advance our U.S. expansion plan in cooperation with our key stakeholders, we expect to make meaningful investments to spur job creation and the eventual development of localized, decarbonized supply chains in the U.S. to enhance energy security …
NASHVILLE, TENN. — RMR Group is underway on Station East, an 18-acre mixed-use development located at 111 N. First St. in the East Bank neighborhood of Nashville. Designed by Hastings Architecture, the development will feature 1,400 residential units, 1.2 million square feet of office space, over 600 hotel rooms, 2.9 acres of green space and 225,000 square feet of retail space. A project timeline was not disclosed.
ATLANTA — Locally based Galerie Living has received approval from DeKalb County commissioners for its redevelopment of a portion of Emory University’s Briarcliff campus in Atlanta. Galerie Living will develop and operate a new 500-unit seniors housing community that will be known as Corso Druid Hills. The community will feature independent living options such as cottages and apartments in one- and two-bedroom layouts, as well as assisted and memory care living. Emory University entered into the lease agreement with Galerie earlier this year. More details on the project are scheduled to be disclosed in the spring of next year.
GRANITEVILLE, S.C. — JLL has brokered the sale of Global Avenue Logistics Center, a 450,033-square-foot, multi-tenant logistics facility located in the western South Carolina city of Graniteville. The facility, which comprises 30 acres, is located at 1043 Global Ave. within Sage Mill Industrial Park. Edgewater Ventures and Singerman Real Estate sold the property for an undisclosed price. Pete Pittroff, Britton Burdette, Patrick Nally, Dave Andrews and Zach Lloyd of JLL represented the sellers and procured the buyer, LM Real Estate Partners, in the transaction.
SEBASTIAN, FLA. — Marcus & Millichap has arranged the sale of The Liberty Building, a 327,136-square-foot industrial building located in Sebastian. In addition to industrial and office space, the property features a cafeteria and food preparation area, vending areas, a gymnasium, exercise rooms and employee restrooms and showers. Alex Zylberglait and Michael Crocchiola of Marcus & Millichap represented the seller, Hammond Development Group, in the $6.9 million transaction. Zylberglait and Crocchiola also procured and represented the buyer, TLC Land Holdings.
HUNTSVILLE, ALA. —Last Mile Investments has purchased Whitesburg Center, a 49,821-square-foot shopping center located at 5000 Whitesburg Drive in Huntsville. Jim Hamilton, Brad Buchanan and Andrew Michols of JLL represent the seller, Baker Storey McDonald Properties, in the transaction. The sales price was not disclosed. Built in 1990 and renovated in 2002, the center is leased to tenants including Dollar Tree, Hollywood Feed, Edible Arrangements, Baskin Robbins, Buff City Soap and Papa Murphy’s.
HOUSTON — A joint venture between locally based developer Midway and Los Angeles-based investment firm Arc Capital Partners has acquired Sabine Street Lofts, a 198-unit apartment complex located near downtown Houston. Built in 2001, the complex houses one- and two-bedroom units with an average size of 1,017 square feet that feature quartz countertops, individual washers and dryers and private balconies/patios. Amenities include two pools, a fitness center, outdoor lounge areas and access to Houston’s Buffalo Bayou trail network. Tom Fish and Jonathan Paine of Walker & Dunlop arranged acquisition financing on behalf of the joint venture. The seller and sales price were not disclosed.
COLLEGE STATION, TEXAS — Oldham Goodwin has sold the Westinghouse Building at Providence Park, a 175,752-square-foot life sciences facility in College Station. Oldham Goodwin acquired the facility, which was originally built in 1983 as a manufacturing plant for Westinghouse Electronic Systems Group, in 2016. At that point, the facility had been shuttered since 1999. Dallas-based Big Sky Medical Real Estate purchased the asset for an undisclosed price.