Property Type

Toll Brothers, PGIM Top Out 36-Story Momentum Midtown Apartment Tower in Atlanta

by John Nelson May 9, 2023

ATLANTA — Toll Brothers Apartment Living, a subsidiary of Toll Brothers Inc., and PGIM Real Estate have topped out Momentum Midtown, a new 36-story high-rise apartment tower in Atlanta’s Midtown district. The 376-unit luxury property is located at 1018 W. Peachtree St., a site that formerly housed Ted Turner’s original broadcasting studio for TBS. Toll Brothers and PGIM expect occupancy to begin at Momentum Midtown in early 2024. Wells Fargo provided an undisclosed amount in construction financing for the project. Momentum Midtown will feature studio, one-, two- and three-bedroom floor plans, as well as a resort-style rooftop pool and lounge with cabanas, outdoor bar, dining room, exhibition kitchen, theater, indoor/outdoor game room, and a sky lounge. Other amenities will include a fitness center, coworking space, a club room with coffee bar, beer and wine taps, dog park and pet spa, high-speed Wi-Fi and a 435-space structured parking garage.

May 9, 2023

Acquisitions Build-to-Rent Florida Multifamily Single-Family Rental Southeast

Wolfson Sells Build-to-Rent Residential Community in Tampa Bay Area for $59M

by John Nelson May 9, 2023

BRADENTON, FLA. — Wolfson BTR, an affiliate of Wolfson Development Co., has sold a build-to-rent (BTR) residential community in the Tampa Bay city of Bradenton for $59 million. The buyer was not disclosed, but Manatee County Property Appraiser files identify the buyer as an affiliate of New York-based JP Morgan Asset Management. The Tampa Bay-area community, known as Cantabria Bradenton, spans 184 three- and four-bedroom homes on 36 acres. The property comprises 172 attached townhomes and 12 detached single-family homes, each with attached garages and private, fenced yards. Community amenities include a clubhouse, fitness center, pool, walking trails and picnic areas. Wolfson Development has a pipeline of nearly 2,000 units, including Cantabria Bradenton, with a total exit valuation of nearly $1 billion. The sale was done in partnership with Transcendent Investment Management and Dan Armistead.

May 9, 2023

Development Industrial Southeast Virginia

Giant Food Opens 82,000 SF Fulfillment Center in Manassas, Virginia

by John Nelson May 9, 2023

MANASSAS, VA. — Regional grocer Giant Food has opened an 82,000-square-foot e-commerce fulfillment center in Manassas. The new facility allows Giant to expand its delivery service to 140 zip codes across Northern Virginia and support 200 new jobs. Giant is offering free delivery for orders made Tuesday through Thursday and for a $3.95 charge on the weekends, according to Gregg Dorazio, director of e-commerce at Giant. The grocer will continue to operate its other existing fulfillment center in Hanover, Md. Giant is headquartered in Landover, Md., and operates 165 supermarkets in Virginia, Maryland, Delaware and Washington, D.C., with approximately 20,000 associates.

May 9, 2023

Acquisitions Seniors Housing Southeast West Virginia

SLIB Brokers Sale of 72-Bed Seniors Housing Property in Jane Lew, West Virginia

by John Nelson May 9, 2023

JANE LEW, W.VA. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Crestview Manor Nursing Home, a 72-bed skilled nursing facility in Jane Lew, approximately 115 miles south of Pittsburgh. The property has been family-owned since 1987 and is the only skilled nursing facility in Lewis County. The seller was a private, out-of-state owner that owned Crestview Manor for over three decades. The buyer is a publicly traded REIT utilizing an existing operating partner relationship that has collectively rapidly grown its presence throughout West Virginia. Both parties requested anonymity, and the sales price was also not disclosed. Dave Balow and Patrick Burke handled the transaction for SLIB.

May 9, 2023

Company News Leasing Activity Office Texas

Reports: IBM to Relocate Austin Office Campus to The Domain by 2027

by Taylor Williams May 9, 2023

AUSTIN, TEXAS — IBM will relocate its Austin office campus to The Domain, a 300-acre mixed-use development on the city’s north side, by 2027, according to several media outlets including The Austin American-Statesman and Axios. The former publication reports that IBM, which employs about 6,000 people in Austin, will take about 320,000 square feet across two newly constructed buildings at 11901 MoPac Expressway. The latter publication reports that the interconnected buildings will both rise 14 stories and that the tech giant intends to occupy the entirety of one tower and a small portion of the other. Bo Beacham and John Barksdale of CBRE represented the landlord, Hines, in the lease negotiations.

May 9, 2023

Leasing Activity Louisiana Office Southeast

Feil Signs Nonprofit Insurance Organization to 20,984 SF Office Lease Renewal in Metairie, Louisiana

by John Nelson May 9, 2023

METAIRIE, LA. — The Feil Organization has signed Louisiana Citizens Property Insurance Corp., a nonprofit residential and commercial real estate insurance organization, to an office lease renewal in the New Orleans suburb of Metairie. The company will continue to occupy its 20,984-square-foot office on the seventh floor of the Galleria office building for another 125 months. Sandra Corrigan of SRSA Commercial Real Estate represented the tenant in the lease negotiations, and Scott Graf of Corporate Realty represented the landlord. Located at 1 Galleria Blvd., the Galleria is a 22-story, 466,110-square-foot office building that offers a fitness center, food service, an ATM, car wash service and onsite security and management.

May 9, 2023

Leasing Activity Office Texas

LyondellBasell Signs 318,504 SF Office Headquarters Lease in Houston

by Taylor Williams May 9, 2023

HOUSTON — Global chemical manufacturer LyondellBasell has signed a 318,504-square-foot office lease for its new U.S. headquarters at Williams Tower, a 64-story building in Houston’s West Loop/Galleria submarket. Craig Beyer and Kevin Saxe of CBRE represented LyondellBasell, which is relocating from downtown Houston, in the lease negotiations. Nina Seyyedin and Warren Savery of CBRE represented the landlord, Atlanta-based Invesco Real Estate. A timeline for occupancy was not disclosed.

May 9, 2023

Mustang-Ridge-Distribution-Center-Austin

Development Industrial Texas

Clay Development to Build 218,400 SF Industrial Project in Southeast Austin

by Taylor Williams May 9, 2023

AUSTIN, TEXAS — Houston-based Clay Development will build Mustang Ridge Distribution Center II, a 218,400-square-foot industrial project located on a 15-acre site in southeast Austin. Building features will include a rear-load configuration, 32-foot clear heights, an ESFR sprinkler system and parking for 233 cars and 38 trailers (expandable to 68). Raymond Construction is the general contractor for the project. The Austin office of Colliers will handle leasing of the project. Construction will begin later this month, with completion slated for April 2024.

May 9, 2023

Loans Retail Texas

Axiom Capital Arranges $6.4M Acquisition Loan for Metro Dallas Retail Property

by Taylor Williams May 9, 2023

LEWISVILLE, TEXAS — Axiom Capital Corp., a New York-based commercial finance and advisory firm, has arranged a $6.4 million acquisition loan for a 48,427-square-foot retail property located in the northern Dallas suburb of Lewisville. The building, which is occupied by supermarket chain Fiesta Mart, sits on 3.2 acres within a 106,000-square-foot shopping center that was not included in the transaction. The borrower and direct lender were not disclosed.

May 9, 2023

Acquisitions Industrial Texas

Partners Real Estate Brokers Sale of 69,125 SF Industrial Portfolio in Houston

by Taylor Williams May 9, 2023

HOUSTON — Partners Real Estate has brokered the sale of a portfolio of five single-tenant industrial buildings totaling 69,125 square feet in Houston. Cary Latham and Hunter Stockard of Partners represented the seller, AMAG Holdings LLC, in the transaction. Blake Deer and Carson Deer represented the buyer, Capital Real Estate Investments, on an internal basis.

May 9, 2023

Newer Posts

Older Posts