Property Type

McHugh Construction Delivers Inn and Spa at Southall Near Nashville

by John Nelson April 11, 2023

FRANKLIN, TENN. — McHugh Construction has delivered the Inn and Spa at Southall, a 325-acre luxury farm resort in the south Nashville suburb of Franklin. The approximately 95,000-square-foot property features 62 guest rooms, an executive boardroom, 15,000-square-foot spa, an all-day restaurant and bar and a 3,700-square-foot signature restaurant called January that serves fare grown onsite. Many guestrooms include wood-burning fireplaces, exposed wood beams and large windows. McHugh used cross-laminated timber and heavy timber for all four buildings in the project. Paul Mishkin, a Chicago investor, is the founder of Southall.

April 11, 2023

Acquisitions Florida Retail Southeast

SRS Brokers $28.4M Sale of Shopping Center Underway in Central Florida

by John Nelson April 11, 2023

KISSIMMEE, FLA. — SRS Real Estate Partners’ Investment Properties Group has brokered the $28.4 million sale of WaterStar Orlando, a 79,680-square-foot shopping center under construction near Walt Disney World’s Animal Kingdom Lodge. Orlando-based Equinox Development Properties is developing the center, which is located on a 7.7-acre site at 7991 W. Irlo Bronson Memorial Highway in Kissimmee. Set to open in the next few months, WaterStar Orlando will be anchored by Marshalls, Burlington and pOpshelf, and will also house Noire Nail Bar and Keke’s Breakfast Café. Equinox sold the shopping center to a South Florida-based entity doing business as Orlando 22 LLC. Kyle Stonis, Pierce Mayson and Kevin Yaryan of SRS represented the seller in the transaction, and John Ellis of Newmark represented the buyer. WaterStar Orlando is part of a mixed-use development that will also include Madison WaterStar Orlando, a 516-unit apartment development that is also under construction.

April 11, 2023

Acquisitions Florida Industrial Southeast

JLL Arranges Sale of 464,400 SF Distribution Center in Auburndale, Florida

by John Nelson April 11, 2023

AUBURNDALE, FLA. — JLL has arranged the sale of Building 100, a 464,000-square-foot, cross-dock distribution facility located at Pace Logistics Center in Auburndale. The seller, Intersect Development Group, delivered the property earlier this year. The buyer and sales price were not disclosed. Luis Castillo, Britton Burdette, Cody Brais and Taylor Osborne of JLL represented the seller in the transaction. Paul Spellman, Taylor Allison and Emma Buch of JLL arranged an undisclosed amount of acquisition financing on behalf of the buyer. Located on a 30-acre site at 1234 Pace Road, Building 100 features 40-foot clear heights, a 60-foot speed bay, dock levelers and a 185- to 190-foot truck court.

April 11, 2023

Florida Leasing Activity Office Southeast

Law Firm Signs 37,000 SF Office Lease at Water Street Tampa

by John Nelson April 11, 2023

TAMPA, FLA. — Bradley Arant Boult Cummings LLP, a law firm based in Birmingham, Ala., has leased space on the 10th and 11th floors of Thousand & One, a trophy office tower within the $3.5 billion Water Street Tampa development. Master developer Strategic Property Partners LLC is the landlord of the office tower. The law firm will move into its 37,000-square-foot space from its current regional office on North Tampa Street in downtown Tampa before the end of the year. PEI Global Partners has also recently leased space at Thousand & One, which also houses Citadel, ReliaQuest, Sila Realty Trust, Northern Trust Corp., Weatherford Capital, Synovus Financial Corp., RSM, Suffolk Construction, USA Rare Earth and Walker & Dunlop, among other tenants. Thousand & One features a rooftop terrace, private landscaped terraces, open-air conference room, employee fitness center and town hall meeting space. On the ground level, the building features a landscaped plaza with public art and water features and several ground-floor retailers, including Naked Farmer, CAVA and the recently opened Boulon Brasserie.

April 11, 2023

Affordable Housing Loans Multifamily Texas

KeyBank Provides $82M in Financing for Austin Affordable Housing Complex

by Taylor Williams April 11, 2023

AUSTIN, TEXAS — KeyBank Community Development Lending & Investment has provided $82 million in acquisition and rehabilitation financing for Woodway Square Apartments, a 240-unit affordable housing complex in Austin. The 12-building, garden-style complex offers one-, two- and three-bedroom units that are reserved for households earning 60 percent or less of the area median income. Amenities include a pool, playground and a community room. The borrower is Minnesota-based owner-operator Dominium. The financing includes an $18 million bridge loan to facilitate the purchase, $40 million in construction-to-permanent financing and $24 million in Low-Income Housing Tax Credit (LIHTC) equity.

April 11, 2023

Industrial Leasing Activity Texas

MTU Maintenance to Open 430,000 SF Industrial Facility in Fort Worth

by Taylor Williams April 11, 2023

FORT WORTH, TEXAS — MTU Maintenance Dallas Inc., a provider of aviation repair services and a division of German manufacturer MTU Aero Engines, will open a 430,000-square-foot industrial facility in Fort Worth. The company will relocate from nearby Grapevine to a climate-controlled facility at Perot Field Fort Worth Alliance Airport during the second quarter. Paul Reitz of Reitz Realty Group represented MTU Maintenance in the deal. Hillwood owns the facility, which is approximately 10 times bigger than MTU Maintenance’s current space.

April 11, 2023

Arizona Development Life Sciences Western

University of Arizona Completes Construction of $85M Applied Research Building in Tucson

by Jeff Shaw April 11, 2023

TUCSON, ARIZ. — The University of Arizona has completed construction of its $85 million Applied Research Building (ARB) in Tucson. The 89,000-square-foot ARB is the first building in the country to house all research spaces related to the fabrication and testing of satellites in one integrated facility. The ARB is the new home of applied physical sciences and engineering, connecting faculty across four colleges and eight departments. McCarthy Building Cos. constructed the property, which SmithGroup designed.

April 11, 2023

Acquisitions California Industrial Western

Vertical Ventures Buys 232,863 SF Rose Canyon Business Park in Central San Diego

by Jeff Shaw April 11, 2023

SAN DIEGO — Vertical Ventures has purchased a 232,863-square-foot industrial park in Central San Diego. The multi-tenant park is located at 4901- 4907 Morena Blvd., west of the Clairemont submarket. Known as Rose Canyon Business Park, the property’s 15 buildings are spread across 38.1 acres. The asset was built in the late 1970s through the 1980s, and has recently undergone external renovations. The property is 99.5 percent occupied and offers suites ranging from 500 to 5,000 square feet. Phillip Linton of the CBRE Capital Markets Division in San Diego represented the buyer, while Cushman & Wakefield represented the seller.

April 11, 2023

Acquisitions Multifamily Seniors Housing Utah Western

SLIB Negotiates Sale of 145-Unit Seniors Housing Community in Bountiful, Utah

by Jeff Shaw April 11, 2023

BOUNTIFUL, Utah — Senior Living Investment Brokerage (SLIB) has arranged the sale of a 145-unit independent living, assisted living and memory care community in Bountiful, approximately 10 miles north of Salt Lake City. The facility was built in 1978 expanded in 1999. The property totals 124,673 square feet on approximately 2.4 acres of land. The buyer was a California-based private equity group partnering with a Salt Lake City-based management company. They plan to invest heavily in remodeling the community and improving the overall performance. Vince Viverito and Brad Clousing of SLIB handled the transaction. The seller was not disclosed.

April 11, 2023

Acquisitions California Industrial Western

Rexford Industrial Sells Industrial Building in Van Nuys, California for $17M

by Jeff Shaw April 11, 2023

VAN NUYS, CALIF. — Rexford Industrial Realty has sold a 48,394-square-foot, multi-tenant industrial building in Van Nuys for $17 million. The buyer was Orion Business Park LLC. The building is located at 8101-8117 Orion Ave. in the San Fernando Valley. Built in 1978, it consists of 29 tenant spaces ranging from 1,000 to 4,000 square feet. The building features 13-foot clear height ceilings and 25 ground-level loading docks. The building was about 93 percent leased at the close of escrow. The new owner intends to lease up the remaining vacancy and hold the asset as a long-term investment. Chris Jackson, Todd Lorber and Tim Foutz with NAI Capital Commercial’s Investment Services Group represented Rexford in the transaction.

April 11, 2023

Newer Posts

Older Posts