Property Type

CHICAGO — The Boulder Group has brokered the $2.6 million sale of a single-tenant restaurant property occupied by Chipotle at 2935 W. Peterson Ave. in Chicago. The 2,160-square-foot building is situated near The Home Depot, Mather High School and Lincoln Village Shopping Center. Randy Blankstein and Jimmy Goodman of Boulder Group represented the seller, a Midwest-based real estate investor, and the buyer, a Southwest-based real estate investment fund. Chipotle has a 20-year lease at the property.

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LAKE GENEVA, WIS. — The Barry Co. has arranged the sale of a 14,918-square-foot industrial building located off Highway 12 in Lake Geneva. The facility sits on the historic site of the former Sheridan Springs Bottling Works, known for its natural spring. Stout Development Group was the buyer. The site includes a detached 2,000-square-foot masonry garage.

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SAVANNAH, GA. — The Savannah-Georgia Convention Center Authority and global hotelier Hilton (NYSE: HLT) have broken ground on Signia by Hilton Savannah, a 444-room hotel situated adjacent to the Savannah Convention Center. The $398 million hotel project is expected to debut in mid-2028 and serve as the headquarters hotel of the 666,000-square-foot convention center, which underwent a $276 million expansion project that wrapped up in February. The Atlanta-Journal Constitution reports that the hotel project was “15 years and three false starts” in the making. The riverfront hotel will sit on Hutchinson Island across the Savannah River from the city’s historic district. The AJC also reports that the 403-room Westin Savannah Harbor is currently the only hotel within walking distance of the convention center. The Savannah-Georgia Convention Center Authority owns the hotel and is developing the project in partnership with the Georgia World Congress Center Authority, an Atlanta-based entity that also manages the Savannah Convention Center. The Georgia World Congress Center Authority recently collaborated with Hilton on the development of Signia by Hilton Atlanta, a 976-room hotel tower situated near the convention center, as well as State Farm Arena and Mercedes-Benz Stadium in downtown Atlanta. “Signia by Hilton Savannah’s signing and groundbreaking represents …

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Austin-Multifamily-Design-Construction-Panel

By Taylor Williams It’s a tough time in the Austin multifamily market, and architects and general contractors (GCs) are being asked to do their part to minimize the financial distresses of their developer clients and to facilitate the work of the agencies that lease the buildings they design and build. The state capital is on the back nine — it’s tough to say which hole precisely — of an apartment building frenzy that materialized in the immediate post-COVID era. Times were starkly different then in terms of costs of capital and trended rent projections, and developers and their capital partners made hay while there was light. Project partners on developments that were delivered in the past 12 to 18 months as part of the building boom may not have felt as acutely pressured to design for efficiency. But those working on new projects today do not have that luxury and are being asked to think and design with cost savings in mind. Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real estate executives. To sign up for email announcements about specific events, visit www.interfaceconferencegroup.com/subscribe. One could argue that developing multifamily product with financial …

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Burleson-Tech-Austin

AUSTIN, TEXAS — Holt Lunsford Commercial Investments (HLCI) has broken ground on Burleson Tech, a 632,354-square-foot industrial project in Austin. The site at 7051 Burleson Road is located about three miles outside of the downtown area, adjacent to Austin-Bergstrom International Airport. The development will feature four buildings that will range in size from 103,516 to 263,609 square feet. Three of the structures will have rear-load configurations and 32-foot clear heights, while the largest of the four buildings will feature a cross-dock layout and 36-foot clear heights. Completion is slated for mid-2026. Live Oak Real Estate is the leasing agent.

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The-Jax-San-Antonio

SAN ANTONIO — Locally based investment firm Kairoi Residential has acquired The Jax, a 322-unit apartment community in northwest San Antonio. Built on 19 acres in 1997, The Jax offers one-, two- and three-bedroom units with an average size of 1,010 square feet. Amenities include a pool, clubhouse, fitness center, business center, dog park, playground and a package handling area. Private garages are available in select residences. Robert Arzola, Robert Wooten and Ryan McBride of JLL represented the undisclosed seller in the transaction.

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MIAMI — Terra has completed the first phase of Centro City Residences, the multifamily component of the 38-acre Centro City mixed-use development in Miami’s West Little Havana neighborhood. Phase I features 470 apartments spread across three eight-story multifamily buildings located at 3830 N.W. 11th St., as well as 350,000 square feet of retail space anchored by a 100,000-square-foot Target store. Other retail tenants include Ross Dress for Less, DD’s, Fresco Y Mas, Walgreens and Bank of America. Leasing and move-ins are underway at Centro City Residences, which features a mix of studio, one- and two-bedroom apartments. Floorplans measure approximately 500 to 1,250 square feet in size, with monthly rental rates starting at approximately $2,400, according to Terra. Amenities include multiple pools with cabanas, barbecue grill areas, a children’s playground, dog park, lounges and game rooms. Terra obtained a $291 million financing package for the project earlier this year.

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PASADENA, TEXAS — A partnership between Denver-based investment firm Sagard Real Estate and the Ontario Teachers’ Pension Plan Board has purchased 225 Crossing Logistics Center, a 163,402-square-foot industrial facility located at 310 Beltway Green Blvd. in Pasadena, an eastern suburb of Houston. According to LoopNet Inc., the rear-load building was completed in 2024 and features 32-foot clear heights, 18 dock doors, 135-foot truck court depths and 2,376 square feet of speculative office space. The seller and sales price were not disclosed.

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PLANO, TEXAS — A partnership between the Texas State Affordable Housing Corp. (TSAHC), DMA Cos. and other stakeholders have opened The Park on 14th, a 62-unit affordable housing project located northeast of Dallas in Plano. Units are reserved for households earning 80 percent or less of the area median income. Amenities include community and media rooms, business and fitness centers and outdoor recreational space. A U.S. Department of Housing and Urban Development (HUD) loan and equity from TSAHC financed the bulk of the project.

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CHARLOTTE, N.C. — A partnership between New York-based Town Lane and locally based Trinity Capital Advisors has purchased 440 South Church, a 15-story office building located in Uptown Charlotte. The seller and purchase price were not disclosed, but Charlotte Business Journal reported that New York-based Epic Investment Partners sold the building for $75.8 million. Patrick Gildea and Matt Smith of CBRE represented the seller in the transaction. J.P. Cordeiro, Mike Ryan and Brian Linnihan of CBRE’s Debt & Structured Finance team arranged acquisition financing. Built in 2009 and lightly renovated in 2022, 440 South Church’s occupancy rate was 47 percent at the time of the sale. Town Lane and Trinity Capital, which is also the 388,657-square-foot tower’s original developer, plan to invest $20 million in capital improvements and renovations, including an overhauled lobby, new lounges, new street-level retail space, updated building systems and upgrades to the amenity level on the second floor. Tenants at 440 South Church include Driven Brands and HDR Engineering.

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