ARLINGTON, VA. — Amazon has paused construction on the second phase of its 5.4 million-square-foot HQ2 development in Arlington, reports Bloomberg. The developer, JBG Smith, previously announced that the first phase of the headquarters, which comprises 2.1 million square feet, is scheduled for delivery this summer. The delay will affect the second, 3.3 million-square-foot Pen Place phase, plans for which include three office buildings and a biophilic, double-helix amenity center dubbed The Helix. The pause coincides with recent layoffs, and John Schoettler, the real estate chief for the company, did not disclose a new start date for construction, though he says Amazon remains committed to the National Landing area.
SHELBYVILLE, KY. — Northmarq has secured $25.3 million in financing for the construction of the first two phases of a bourbon barrel storage facility in Shelbyville. Randall Waddell of Northmarq’s Louisville office arranged the fixed-rate loan through a Kentucky-based bank on behalf of the borrower, a joint venture between The Spirits Group and K-RAX. The loan carries a five-year term with three years of interest-only payments followed by a 25-year amortization schedule. Upon completion, the development, situated on 107 acres at 2517 Vigo Road will feature seven rickhouses — each of which will have capacity for 19,800 barrels — and one blending/bottling building.
SILVER SPRING, MD. — 29th Street Capital (29SC) has purchased Solaire Apartments, a 232-unit multifamily community located in Silver Spring. Amenities at the six-building community include a 24-hour fitness center, swimming pool and sundeck, community room and a courtyard patio with a grilling station. 29SC plans to make upgrades to the property, which will be rebranded as Maven at Wheaton. Brian Crivella, Walter Coker, Bill Gribbin and Yalda Ghamarian of Berkadia represented the undisclosed seller in the transaction. Haven Residential, a company owned by 29SC, will oversee the leasing and management of the property. The sales price was not disclosed.
SUNRISE, FLA. — Azor Advisory Services has brokered the $13.9 million sale of The Sawgrass Home Design Center, a retail center located at 13001-13191 W. Sunrise Blvd. in Sunrise, approximately 30 miles northwest of Miami in Broward County. The 45,000-square-foot property was 83 percent leased at the time of sale to tenants including DXL Casual Male, Bella Salon Suites, Lighting Outlet, Compass Research and Caremax. Beth Azor of Azor Advisory represented the seller, a partnership doing business as FVP Sawgrass LLC, which originally acquired the property in 2011. Apogee Realty Inc. and an entity doing business as Capital Group Realty 2004 LLC represented the buyer, Harvest International Investments.
CHARLOTTE, N.C. — Insite Properties has arranged the sale of a three-building flex portfolio in Charlotte on behalf of a joint venture partnership managed by the company. Located at 4324 Revolution Park Drive, 801 Clanton Road and 920 Blairhill Road in the city’s South End district, the properties comprise 106,000 square feet in total. A client of Manchester Capital Management purchased the portfolio, which was 97 percent leased at the time of sale. Insite will manage and lease the properties on behalf of the new ownership. The sales price was not disclosed.
EL PASO, TEXAS — Atlanta-based investment firm MDH Partners has entered into an agreement to acquire Loop 375 Industrial, a three-building, 554,960-square-foot development that is nearing completion in El Paso. The site spans 36.7 acres, and the development features 191 trailer parking spaces, 230 car parking spaces and clear heights of 32 to 36 feet. Bret Felberg and Jeff Morris of Colliers represented the seller and developer, Houston-based NIT Industrial, in the transaction. MDH Partners also provided NIT Industrial with mezzanine debt to complete construction. The financing is coterminous with the senior construction loan, which was provided by Veritex Community Bank. CBRE is leasing the development, which is scheduled to come on line this fall.
DENTON, TEXAS — Atlanta-based multifamily developer Wood Partners has opened Alta Denton Station, a 248-unit apartment community in North Texas. Units come in one-, two- and three-bedroom formats and are furnished with stainless steel appliances, granite countertops, tile backsplashes and individual washers and dryers. Amenities include a pool, fitness center, coworking space, pet care facilities and outdoor grilling and dining areas. Rents start at $1,300 per month for a one-bedroom unit.
SAN ANTONIO — CBRE has arranged the $5.3 million sale of the Villita Assembly Building, a 24,785-square-foot event center in downtown San Antonio. The single-story building was constructed on 1.1 acres in 1958 and includes a banquet hall, kitchen and an outdoor plaza. Andrew Price of CBRE represented the seller, CPS Energy, in the transaction. The buyer, GrayStreet Partners, intends to upgrade and restore the Villita Assembly Building and keep it as an event venue.
SAN ANTONO — KCI Technologies, an engineering, surveying and construction management firm, has signed a 23,000-square-foot office lease to be the anchor tenant at Inwood Village II, a 74,265-square-foot building under construction on the north side of San Antonio. David Ballard and Parker LaBarge of CBRE represented the tenant in the lease negotiations. Rob Gish and Shawn Gulley internally represented the landlord, locally based developer Worth & Associates. Completion of Inwood Village II is slated for the summer.
MAGNOLIA, TEXAS — SVN | J. Beard Real Estate has begun leasing Country Forest Plaza, a 9,615-square-foot retail project located at 11828 FM 1488 in Magnolia, about 45 miles northwest of Houston. Retail spaces will range in size from 1,300 to 5,715 square feet. Kane Dunbar served as general contractor for the project, construction of which began in January and is expected to be complete during the summer.