Property Type

JLL Arranges Sale of 280 Station Shopping Center in Birmingham

by John Nelson September 22, 2023

BIRMINGHAM, ALA. — JLL has arranged the sale of 280 Station, a 24,760-square-foot shopping center located in Birmingham. Tenants at the property, which was 91 percent leased at the time of sale, include Oasis Nails & Spa, Eyemart Express, Subway, Bedzzz Express, Isbell’s Jewelry, Budget Car Rental, Tint World, State Farm Insurance, Dunkin’ and Tao Massage. Jim Hamilton, Brad Buchanan and Anton Serafini of JLL represented the seller and procured the buyer, a real estate fund advised by Crow Holdings Capital. The seller and sales price were not disclosed.

September 22, 2023

Development Mixed-Use Texas Top Stories

Signorelli Co. Announces Phase I of 4,700-Acre Master-Planned Development Near Houston

by Katie Sloan September 22, 2023

ROSENBERG, TEXAS — The Signorelli Co. has announced plans for Phase I of Austin Point, a 4,700-acre master-planned community located roughly 30 miles southwest of Houston in Rosenberg. Upon completion, the development will feature 14,000 homes and 15 million square feet of multifamily, office, medical, retail and hospitality space. The project will also include the extension of Fort Bend Parkway and Grand Parkway at the development site for more convenient access to downtown Houston. Phase I of Austin Point is set to break ground in 2024 and will include the construction of 400 homes. These residences will be built on smaller lots in an alley-loaded format, in sizes ranging from 1,300 to 4,500 square feet. The project team for Phase I includes Ashton Woods, Beazer Homes, Drees Homes, Castlerock, David Weekley Homes, Newmark Homes, Perry Homes, William David Homes and Westin Homes. Sales of homes in Phase I are expected to begin in spring 2025. Plans for Austin Point also include a community event space dubbed The 1824 — a nod to the year that the original landowner received the title to the development site. The space will include a café and wine bar with an open front porch, outdoor …

September 22, 2023

Development Leasing Activity Office Texas

KDC, Pacific Elm to Develop 500,000 SF Office Building in Uptown Dallas, Sign BoA as Anchor Tenant

by Taylor Williams September 21, 2023

DALLAS — A partnership between two locally based developers, KDC and Pacific Elm Properties, will develop Parkside, a 500,000-square-foot office building that will be located at the corner of North Harwood Street and Woodall Rodgers Freeway in Uptown Dallas. Bank of America has committed to be the building’s anchor tenant with a 238,000-square-foot lease, and upon move-in, the building will become known as Bank of America Tower at Parkside. Construction is scheduled to begin before the end of the year, with delivery slated for the first half of 2027. Corgan is the project architect. Andy Leatherman of JLL represented Bank of America in the lease negotiations. Aarica Mims of KDC and Sara Terry of Pacific Elm Properties represented ownership on an internal basis.

September 21, 2023

Build-to-Rent Development Loans Single-Family Rental Texas

Empire Group of Cos. Breaks Ground on 276-Unit Build-to-Rent Project in Hutto, Texas

by Taylor Williams September 21, 2023

HUTTO, TEXAS — Arizona-based developer Empire Group of Cos. has broken ground on Village at Hutto Station, a 276-unit build-to-rent residential project that will be located on the northern outskirts of Austin. Village at Hutto Station will offer one-, two- and three-bedroom homes with private backyards. Residential amenities will include a pool, outdoor grilling areas, a fitness center, walking paths, community clubhouse and a dog park. Construction is expected to last about two years and is being financed by a $62.4 million loan from Arbor Realty Trust. Tower Capital, an Arizona-based boutique advisory firm, arranged the construction debt. Empire Group of Cos. acquired the 30.6-acre site last fall for $11 million.

September 21, 2023

Acquisitions Industrial Texas

Fort Capital Acquires 258,999 SF Industrial Portfolio in Houston

by Taylor Williams September 21, 2023

HOUSTON — Fort Worth-based investment firm Fort Capital has acquired a 258,999-square-foot industrial portfolio in Houston. The portfolio consists of five Class B, light industrial buildings with a total of 97 units that are located across three different unnamed sites. The portfolio was 81 percent leased at the time of sale. The seller and sales price were not disclosed.

September 21, 2023

Development Industrial South Carolina Southeast

Rockefeller Group Breaks Ground on 1 MSF Industrial Building in Spartanburg, South Carolina

by John Nelson September 21, 2023

SPARTANBURG, S.C. — Rockefeller Group has broken ground on Spartanburg 221, a 1 million-square-foot speculative industrial facility located in Spartanburg. The 87.7-acre project will be situated off Highway 221 and approximately one mile northwest of the I-85 Exit 78 interchange. Spartanburg 221 will include 40-foot clear heights, 56- by 53-foot column spacing, up to 530 parking spaces and up to 237 trailer stalls. The design-build team includes architect Atlas Collaborative and general contractor Pattillo Construction. Campbell Lewis and Marcus Cornelius of CBRE are handling the leasing assignment. The duo is also leasing Rockefeller Group’s Duncan Logistics Center, a nearby 827,000-square-foot development that is nearing completion. The developer acquired the Spartanburg site last year and plans to deliver the facility in fourth-quarter 2024.

September 21, 2023

Development Georgia Southeast Student Housing

PeakMade Real Estate, Blue Vista Open Theory Interlock Student Housing Property in Atlanta

by John Nelson September 21, 2023

ATLANTA — A partnership between PeakMade Real Estate and Blue Vista Capital Management has opened Theory Interlock, a 674-bed student housing community located near the Georgia Tech campus in Atlanta’s West Midtown neighborhood. The property offers fully furnished apartments and townhomes in studio through five-bedroom configurations. Shared amenities include a rooftop swimming pool and fitness center with an outdoor jumbotron theater; an academic lounge with group and individual study spaces; podcast rooms; a large club room; two outdoor courtyards; and structured parking. Theory Interlock is part of the second phase of development at Interlock Tower, a larger mixed-use project. The development is also home to 200,000 square feet of office space, 100,000 square feet of retail and restaurants, 349 traditional multifamily units, 70 townhomes and a 161-room hotel. Atlanta-based SJC Ventures is the master developer of The Interlock.

September 21, 2023

Development Florida Leasing Activity Mixed-Use Restaurant Retail Southeast

First Round of Retail Tenants Sign Leases at Nora Development in Downtown West Palm Beach

by John Nelson September 21, 2023

WEST PALM BEACH, FLA. — The first round of retail and restaurant tenants have signed leases to join the commercial district at Nora, a mixed-use development underway in downtown West Palm Beach. A partnership between West Palm Beach-based NDT Development, Miami-based Place Projects and Greenwich, Conn.-based Wheelock Street Capital is developing Nora. The lineup of new tenants includes three food-and-beverage concepts: Loco Taqueria & Oyster Bar, H&H Bagels and Van Leeuwen Ice Cream. The roster will also include two fitness concepts: [solidcore] and Rumble Boxing. The first phase of Nora will comprise 25 eateries and several shops and wellness concepts along North Railroad Avenue. Nora will also include boutique and creative offices and a 201-room hotel that will be developed by a partnership between BD Hotels and Sean MacPherson.

September 21, 2023

Acquisitions Industrial Texas

Colliers Brokers Sale of 127,000 SF Industrial Building in Northeast Houston

by Taylor Williams September 21, 2023

HOUSTON — Colliers has brokered the sale of a 127,000-square-foot industrial building in northeast Houston. The shallow-bay building, known as Northport Business Park, sits on an eight-acre site at 7101-7157 N. Loop E. Jason Scholtz of Colliers represented the buyer, Harbor Capital, in the transaction. Jason Gandy and Derrick Jones represented the seller, Sealy & Co., on an internal basis. The sales price was not disclosed.

September 21, 2023

Development Florida Multifamily Southeast

Kaplan Residential to Develop 306-Unit Apartment Community in Englewood, Florida

by John Nelson September 21, 2023

ENGLEWOOD, FLA. — Kaplan Residential plans to develop Generation Englewood, a 306-unit apartment community in Southwest Florida. The Bay Harbor Islands, Fla.-based developer purchased the nearly 20-acre site at 201 Pine St. in Englewood from a private investor for $5.2 million. Hunter McCarthy of SVN Commercial Partners brokered the land transaction. Kaplan plans to break ground on Generation Englewood in the first quarter of 2024. Designed by CID Design Group, the development will include a 10,000-square-foot clubhouse, including a dog park that offers outdoor TVs, lounge seating areas and a bar. Architecture Alliance, the project’s landscape architect, is designing walking trails, seating areas, benches and outdoor grilling stations at the community. Monthly rental rates will range from $2,000 to $3,500, according to Kaplan Residential, which plans to deliver Generation Englewood in early 2026.

September 21, 2023

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