Property Type

Executive Q&A: Multifamily Building Costs Rise Up to 40 Percent in a Year, Says R&O Construction’s Eric Stratford

by Jeff Shaw November 1, 2022

OGDEN, UTAH — Multifamily builders face many challenges, including schedule delays, supply chain interruptions, fluctuating material costs and workforce shortages. Construction companies are exercising creativity in tackling these issues to meet high demand. Many firms that build commercial properties argue that smart planning and collaboration among architects, engineers and construction firms are the best ways to weather the storm. REBusinessOnline, a sister publication of Multifamily & Affordable Housing Business, recently interviewed Eric Stratford, director of business development and pre-construction services at R&O Construction, about today’s construction landscape. REBusinessOnline: Tell us about your company. Eric Stratford: R&O Construction was founded in 1980, and we are proud to say that our first client over 42 years ago is still a client today. We are headquartered in Ogden, Utah, with full-service offices in Salt Lake City and Las Vegas. R&O Construction currently employs approximately 185 employees. Some of our recent projects include Senior Living on Washington, an affordable seniors housing community in Ogden; Ascent 1791, a LEED Gold Certified apartment community in Park City, Utah; and The Canyons Employee Housing Facility, a project ordered by Vail Resorts to provide housing for their employees. REBusinessOnline: In which markets and/or regions are you most active? …

November 1, 2022

Matt Maison, vice president of research for Arbor Realty Trust

Acquisitions Arbor Realty Trust Content Partner Features Midwest Multifamily Northeast Southeast Texas Western

Multifamily Opportunity Matrix Reveals Most Promising Markets for Investors, Developers

by Sarah Daniels November 1, 2022

By Arbor Realty Trust Inflationary environments set many investors’ minds to thinking about multifamily properties, which have tended to perform as well or better than other property types in the face of economic headwinds. Product type is no guarantee of success, however, and careful site selection is essential to ensure a project will have the renter demand and pricing power the owner needs to succeed. Arbor Realty Trust, in partnership with Chandan Economics, developed the opportunity matrix featured in Arbor’s Top Opportunities in Large Multifamily Investment Report 2022. The opportunity matrix helps clients navigate the nation’s apartment markets, enabling them to compare relative strengths from one metro to the next and identify those offering the greatest potential for development or investment. Its ranking system, which analyzes eight key categories, found the top three U.S. metro markets for large multifamily investment in 2022 are San Antonio, Kansas City and Las Vegas. “Reviewing what made these communities rise to the top of our 50-metro ranking will demonstrate how investors can use the matrix to compare the climates of opportunity in the markets in which they operate, or to suggest new fields of opportunity for their next venture,” said Matt Maison, vice president …

November 1, 2022

Georgia Market Reports Multifamily Southeast Southeast Market Reports

Atlanta Attracts Reputable Employers, Discerning Investors and Qualified Renters

by John Nelson November 1, 2022

Atlanta’s prowess within the Sun Belt as the dominant multifamily market did not happen by accident, nor did it occur overnight. Back in the 2000s, Atlanta was still an emerging market that was working to attract new employers while battling a season of oversupply that hampered rent growth across the city’s numerous submarkets. Now, and since the mid-2010s, Atlanta has defined itself as the premier entry point for investors looking to break into the Sun Belt, and its proven track record ensures it will continue serving as a global magnet for relocation, investment and expansion. Atlanta’s diversified economy has attracted some of the nation’s biggest and best names in just a few years’ time. While Silicon Valley has captured the tech world’s eye for decades, global powerhouses such as Microsoft, Google and Meta (Facebook) have started planting their flags in Atlanta with reported goals of adding tens of thousands of highly paid employees by 2030. Tech companies are capitalizing on a strategic opportunity in Atlanta to broaden their workforce in a market that boasts a highly educated and diverse population while providing an attractive cost of living. With respect to Atlanta’s employment growth, the presence of Georgia Tech cannot go …

November 1, 2022

Acquisitions Industrial Nevada Western

SunCap Property, Diamond Realty Investments Sell 730,771 SF SunPoint West Industrial Park in North Las Vegas

by Amy Works October 31, 2022

NORTH LAS VEGAS — SunCap Property Group and Diamond Realty Investments have completed the sale of SunPoint West, a newly constructed industrial park in North Las Vegas. Terms of the transaction were not released. Situated on 39.2 acres, the six-building asset features 730,711 square feet of Industrial space. At time of sale, the park was 100 percent leased to six tenants. SunPoint West is located at 2025, 2125, 2205, 2225, 2255 and 2305 West Cheyenne Ave. Michael Kendall, Gian Bruno, Kenny Patricia, Dan Doherty, Paul Sweetland, Chris Lane and Jerry Doty of Colliers marketed the property for sale.

October 31, 2022

California Development Healthcare Western

Stockdale Capital to Develop 145,000 SF Medical Office Tower in Los Angeles’ Westside

by Amy Works October 31, 2022

LOS ANGELES — Stockdale Capital Partners has received approval from the Los Angeles City Council for the development of a 12-story Class A medical office building at 656 S. San Vicente Blvd. in Los Angeles’ Westside neighborhood. With construction slated to begin as early as late 2023, the 145,000-square-foot project will offer surgery, invasive outpatient services, laboratory space and patient-centered medical space. The property will also feature living gardens on the ground floor and upper floors, low-water usage and drip irrigation, increased plantings and greenspace, potential for building-integrated solar, use of recycled materials, high-efficiency heating and cooling systems, and energy-efficient design and green spaces throughout. Additional amenities will include electric vehicle charging stations, ample bicycle parking and 418 parking spaces with valet services.

October 31, 2022

Acquisitions California Industrial Western

CBRE Brokers $61M Sale of 8.4-Acre Industrial Complex in Fullerton, California

by Amy Works October 31, 2022

FULLERTON, CALIF. — CBRE has arranged the sale of an 8.4-acre industrial complex, including three industrial buildings totaling 155,000 square feet, in Fullerton. B&K Investment Co. sold the assets to Ares Management for $61 million. The corner land parcel includes three industrial buildings: an 83,170-square-foot facility at 801 S. Acacia Ave., a 56,000-square-foot asset at 811 S. Acacia Ave. and a 15,830-square-foot property at 1580 Kimberly Ave. The existing tenants have leased the properties back and will continue to occupy the assets. Ben Seybold, Sean Ward and Keith Greer of CBRE represented the seller in the transaction.

October 31, 2022

Acquisitions Industrial Washington Western

BKM Capital Acquires Pacific Industrial Park in Marysville, Washington for $20.3M

by Amy Works October 31, 2022

MARYSVILLE, WASH. — BKM Capital Partners has expanded its Puget Sound portfolio with the purchase of Pacific Industrial Park in Marysville. Pacific Industrial Park LP I sold the asset for $20.3 million. Constructed between 1998 and 2000, the 122,000-square-foot light industrial park features four Class A buildings, which are currently 100 percent leased across 11 units that range in size from 5,060 square feet to 28,206 square feet. Tenants include Snohomish County Sheriff, Greenpointe Technologies and Dish Networks. The assets are located at 14800-15100 40th Ave. NE. BKM’s in-house property and construction teams will execute an improvement program at the property to create a standardized tenant experience. Upgrades and improvements will address parking lots, ESG projects, interior buildouts, roofs, drought-tolerant landscaping, HVAC, lighting, signage and a wrought iron security fence surrounding the sheriff’s office space. Matthew Hagen and Matthew Henn of Kidder Mathews represented the seller, while Fletcher Farrar of Neil Walter Co. represented the buyer in the deal.

October 31, 2022

California Loans Office Western

PSRS Arranges $6.9M Refinancing for Office Property in Downey, California

by Amy Works October 31, 2022

DOWNEY, CALIF. — PSRS has arranged $6.9 million in refinancing for a multi-tenant office building in Downey. Constructed in 1969, the six-story property features 65,481 square feet of space. Grady Seldin of PSRS secured the fixed-rate, cash-out, non-recourse loan with a 10-year term and a 30-year amortization through one of PSRS’ correspondent life insurance companies.

October 31, 2022

Target-Portland-Town-Center-Portland-Texas

Development Multifamily Retail Texas

McLeod Cobb to Develop $100M Multifamily, Retail Project Near Corpus Christi

by Taylor Williams October 31, 2022

PORTLAND, TEXAS — McLeod Cobb Investments will develop Portland Town Center, a $100 million multifamily and retail project that will be located near Corpus Christi in South Texas. Plans for Portland Town Center currently call for 200,000 square feet of retail space that will be anchored by a 128,500-square-foot Target store, as well as 300 multifamily units. The design team includes Osborn & Vane Architects Inc. and Terra Associates Inc, and Arch-Con Corp. is the general contractor. Plains Capital Bank provided construction financing for the 45-acre project. Construction is scheduled to begin in November.

October 31, 2022

Acquisitions Industrial Texas

Manulife Acquires 788,160 SF Warehouse, Distribution Center in Fort Worth

by Taylor Williams October 31, 2022

FORT WORTH, TEXAS — Manulife Investment Management has acquired Alliance Gateway 11, a 788,160-square-foot warehouse and distribution center in Fort Worth. The facility sits on a 38.2-acre site near Alliance Airport on the city’s north side. According to commercialcafé.com, the single-tenant facility was built in 2007 and features 930 car parking spaces. The property was fully leased to an undisclosed e-commerce user at the time of sale.

October 31, 2022

Newer Posts

Older Posts