Property Type

Basis Industrial Acquires Three-Property Tampa Portfolio for $35M

by John Nelson May 1, 2023

TAMPA, FLA. — Boca Raton-based Basis Industrial has purchased portfolio of industrial properties located in Tampa for $33 million. The portfolio includes Brandywine Business Center at 3801 Corporex Park Drive; Corporex Plaza at 3902 Corporex Park Drive and Presidents Plaza Business Center at 4801 George Road. Together the properties total 224,108 square feet. Tenants at the properties, which were 96 percent occupied at the time of sale, include Joffrey’s Coffee, Global Alliance Distributors, Ademco Inc., E-Med Source and Tri-Ed Distribution. Anthony Scavo represented Basis Industrial on an internal basis. Douglas Mandel of Marcus & Millichap’s Institutional Property Advisors (IPA) division represented the undisclosed sellers.

May 1, 2023

Development Georgia Mixed-Use Southeast

Spalding Site Partners to Develop 2.2-Acre Mixed-Use Property in Metro Atlanta

by John Nelson May 1, 2023

PEACHTREE CORNERS, GA. — Spalding Site Partners LLC has acquired a 2.2-acre land parcel in Peachtree Corners with plans to develop a mixed-use property. Upon completion, the development will include 170 residential units, ground-floor retail space, a fitness center and an extension of the Peachtree Corners public trail system. Redline Property Partners, which has a 98,040-square-foot office building at the site, sold the land for an undisclosed price.

May 1, 2023

Acquisitions Florida Industrial Southeast

CBRE Arranges Sale of 241,124 SF Industrial Portfolio in Orlando

by John Nelson May 1, 2023

ORLANDO, FLA. — CBRE has arranged the sale of an industrial portfolio comprising 241,124 square feet across three buildings in Orlando. Located at 10425 S. Orange Ave., 523 W. Grant St. and 44 27th St., the buildings total 130,400, 62,210 and 48,514 square feet, respectively. GID Industrial purchased the portfolio, which was fully leased to 14 tenants, including USPS, at the time of sale. José Lobón, Trey Barry, Frank Fallon, Royce Rose and Alain Bonvecchio of CBRE Capital Markets represented the undisclosed, Boston-based seller in the transaction. David Murphy and Monica Wonus of CBRE also assisted with the sale, the price of which was not disclosed.

May 1, 2023

Acquisitions Multifamily Single-Family Rental Southeast Tennessee

MZ Capital Purchases 87-Unit Single-Family Rental Community in Knoxville, Tennessee

by John Nelson May 1, 2023

KNOXVILLE, TENN. — MZ Capital Partners has purchased the Residences at Devanshire, a community comprising 87 single-family rental homes in Knoxville. Built in 2006, the property features units with three bedrooms and two full bathrooms. Homes also feature back porches or patios, attached garage parking and grass backyards. The sales price and seller were not disclosed.

May 1, 2023

Acquisitions Industrial Retail Southeast Virginia

Cushman & Wakefield | Thalhimer Brokers $7.3M Sale of Wistar Center in Richmond

by John Nelson May 1, 2023

RICHMOND, VA. — Cushman & Wakefield|Thalhimer’s Capital Markets Group has brokered the $7.3 million sale of Wistar Center in Richmond. Located at 8101-8157 Staples Mill Road, the portfolio comprises 49,092 square feet of industrial and retail space. Fully leased to 20 tenants, the retail property features 20,436 square feet. Totaling 28,656 square feet across two buildings, the industrial space was also fully leased at the time of sale. Bo McKown, Catharine Spangler and Eric Robison of Cushman & Wakefield|Thalhimer arranged the sale on behalf of the seller, Fernau LeBlanc Investment Partners. Prudent Growth Partners was the buyer.

May 1, 2023

Acquisitions Industrial Texas

Westcore Acquires Three Fort Worth Industrial Buildings Totaling 485,330 SF

by Taylor Williams May 1, 2023

FORT WORTH, TEXAS — San Diego-based investment firm Westcore has acquired three industrial buildings totaling 485,330 square feet in Fort Worth. Buildings 1, 2 and 4 within North Quarter 35, a development by M2G Ventures, were all fully leased at the time of sale. Seth Koschak and Matteson Hamilton represented the seller in the transaction. Westcore was self-represented. North Quarter 35 features a mix of shallow-bay, read-load and cross-dock buildings totaling 645,000 square feet.

May 1, 2023

Build-to-Rent Development Single-Family Rental Texas

Core Spaces Underway on 408-Unit Build-to-Rent Residential Project in Princeton, Texas

by Taylor Williams May 1, 2023

PRINCETON, TEXAS — Core Spaces, a developer with offices in Chicago and Austin, is underway on construction of Oxenfree at Princeton, a 408-unit build-to-rent residential community located on the northeastern outskirts of Dallas. The site spans 50 acres, and the development will feature a mix of single-family and townhome-style residences with three distinct architectural styles. Oxenfree at Princeton will also offer a central amenity center with a coworking space, health club, market, lounge, pool and a children’s play area. Completion is scheduled for April 2024.

May 1, 2023

Acquisitions Multifamily Texas

ZOM Living, Civitas Capital Sell 378-Unit Mezzo Apartments in North Dallas

by Taylor Williams May 1, 2023

DALLAS — A partnership between Orlando-based developer ZOM Living and Dallas-based investment firm Civitas Capital Group has sold Mezzo, a 378-unit apartment community in North Dallas. Completed last summer, the garden-style property consists of 13 buildings on a 15-acre site. Units come in one-, two- and three-bedroom formats and range in size from 700 to 1,560 square feet. Amenities include a pool, fitness center, lounge, coworking spaces, game room and a dog park. Harbor Group International purchased Mezzo, which was 85 percent occupied at the time of sale, for an undisclosed price.

May 1, 2023

Acquisitions Midwest Missouri Multifamily

Berkadia Arranges Sales of Three Multifamily Properties in St. Louis for $100M

by Kristin Harlow May 1, 2023

ST. LOUIS — Berkadia has arranged the sales of two multifamily properties and one multifamily development site in St. Louis for a combined $100 million. The first transaction includes Southfield Apartments, a 429-unit, garden-style community located at 5549 Southfield Drive. The second deal is an unnamed high-rise property. The third transaction includes 15 acres of land that will be utilized to develop a townhome-style community with 160 units. Andrea Kendrick, Ken Aston and Bobby Mills of Berkadia brokered the sales. Buyer and seller information was not provided.

May 1, 2023

Development Industrial Midwest Ohio

Trident Capital Group, O’Connor Group Complete Phase I of Rickenbacker Industrial Center in Columbus

by Kristin Harlow May 1, 2023

COLUMBUS, OHIO — Trident Capital Group and The O’Connor Group have completed development of the first phase of Rickenbacker Industrial Center in Columbus. The first phase includes a 1 million-square-foot speculative building on 60 acres. The property features a clear height of 40 feet, 104 docks, four drive-in doors, 347 parking spaces and 9,827 square feet of office space. The project offers convenient access to Rickenbacker International Airport and Norfolk Southern Intermodal Yard. Upon full build-out, Rickenbacker Industrial Center will consist of 3.7 million square feet across 230 acres. Jeff Lyons and Michael Mullady of CBRE are the leasing agents.

May 1, 2023

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