Property Type

Tech Firm Signs Office Lease Expansion in Atlanta’s Cumberland-Galleria Submarket

by John Nelson January 31, 2023

ATLANTA — Accel-KKR, a private equity tech firm based in Silicon Valley, has signed an office lease expansion at Galleria 300, a 20-story office building in Atlanta’s Cumberland-Galleria submarket. Andrew Walker of Colliers represented the tenant in the lease negotiations with the owner, Piedmont Office Realty Trust. Situated within walking distance of The Battery and Truist Park, Accel-KKR’s new office footprint will total approximately 24,000 square feet. The firm will occupy the entire 19th floor and will triple its staff at the property, which serves as the company’s East Coast headquarters. Other tenants of Galleria 300 include Cumberland Group, TSCG, Childress Klein and PowerPlan.

January 31, 2023

Affordable Housing Development Multifamily Texas

NRP Group Breaks Ground on 324-Unit Mixed-Income Housing Development in Dallas

by Taylor Williams January 31, 2023

DALLAS — Cleveland-based developer The NRP Group has broken ground on Ascent at Mountain Creek, a 324-unit mixed-income housing development in southwest Dallas. Half of the units will be reserved for households earning 80 percent or less of the area median income, and the remainder will be rented at market rates. Residences will feature one-, two- and three-bedroom floor plans and will be furnished with stainless steel appliances, quartz countertops and walk-in closets. Amenities will include a pool, fitness center and a resident lounge. Completion is slated for September 2024.

January 31, 2023

Development Multifamily Oklahoma Texas

Tradewind, ERC Holdings Underway on 150-Unit Multifamily Project in Oklahoma City

by Taylor Williams January 31, 2023

OKLAHOMA CITY — A partnership between Houston-based developer Tradewind Properties and Arkansas-based ERC Holdings is underway on construction of PURE OKC, a 150-unit multifamily project in Oklahoma City. Located within the 24-acre Brookstone Village master-planned development on the city’s southwest side, PURE OKC will offer one- and two-bedroom units that will be housed across four three-story buildings. Courtyard Block & Building is designing the project, and Pick-It Construction Inc. is serving as the general contractor. Greystar will manage the property. The first units are expected to be available for occupancy this fall.

January 31, 2023

Acquisitions Industrial Self-Storage Texas

Versal Negotiates Sale of 84-Unit Self-Storage Facility in Amarillo, Texas

by Taylor Williams January 31, 2023

AMARILLO, TEXAS — Self-storage brokerage firm Versal has negotiated the sale of an 84-unit facility in the northwest Texas city of Amarillo. The facility spans 36,000 net rentable square feet across 72 traditional storage units and 12 parking/outdoor storage spaces. Bill Bellomy, Michael Johnson, Logan Foster and Hugh Horne of Versal represented the seller, Iowa-based Second Generation Properties LLC, in the transaction. The team also procured the buyers, which were Texas-based private investors.

January 31, 2023

Hospitality Loans Texas

MMCC Arranges $9.1M Loan for Refinancing of Hilton-Branded Hotel in McAllen, Texas

by Taylor Williams January 31, 2023

MCALLEN, TEXAS — Marcus & Millichap Capital Corp. (MMCC) has arranged a $9.1 million CMBS loan for the refinancing of a Hilton-branded hotel in the Rio Grande Valley city of McAllen. The Hilton Garden Inn McAllen Airport was built in 2000 and totals 104 rooms. Robert Bhat of MMCC arranged the loan, which carried a five-year term, 30-year amortization schedule and a 65 percent loan-to-value ratio. The borrower and direct lender were not disclosed.

January 31, 2023

Leasing Activity Office Texas

Haynes & Boone Signs 24,721 SF Office Lease Expansion in Uptown Dallas

by Taylor Williams January 31, 2023

DALLAS — Law firm Haynes & Boone LLP has signed a 24,721-square-foot office lease expansion at Harwood No. 14, a building in Dallas that is under construction and set to open later this year. The firm now occupies about 149,000 square feet within The Harwood District, which spans 19 blocks in the city’s Uptown neighborhood. John Lee, Hannah Mesh and Kelly Whaley internally represented the landlord, Harwood International, in the lease negotiations. Andy Leatherman and Brad Selner of JLL represented the tenant.

January 31, 2023

Acquisitions Illinois Midwest Multifamily

JVM Acquires 149-Unit Apartment Community in Suburban Chicago

by Kristin Harlow January 31, 2023

WHEATON, ILL. — JVM Realty Corp. has acquired Courthouse Square, a 149-unit apartment community in the western Chicago suburb of Wheaton. The purchase price was undisclosed. Located at 250 S. Naperville Road, Courthouse Square was built in 2016 and consists of two six-story buildings. Amenities include a pool and sundeck, concierge service, package receiving, fitness center and yoga studio, event room, outdoor deck, heated indoor garage parking, pet wash and bike repair stations. With this latest acquisition, JVM now owns and manages eight apartment communities in Illinois and 23 throughout the Midwest. Kevin Girard, Mark Stern, Zach Kaufman and Avi Schiffman of JLL represented the undisclosed seller.

January 31, 2023

Loans Michigan Midwest Retail

Marcus & Millichap Arranges $4.7M Acquisition Loan for Retail Property in Northville, Michigan

by Kristin Harlow January 31, 2023

NORTHVILLE, MICH. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $4.7 million loan for the acquisition of a 28,780-square-foot retail property occupied by Fresh Thyme Market in Northville, a northwest suburb of Detroit. Constructed in 2015 as a build-to-suit for the grocery store, the building is located at 15480 Sheldon Road. Chad O’Connor of MMCC arranged the loan on behalf of the undisclosed borrower. The 10-year loan features a fixed interest rate of 5.37 percent, a 30-year amortization schedule and a 45 percent loan-to-value ratio.

January 31, 2023

Development Indiana Industrial Midwest Self-Storage

Holladay Properties Converts Industrial Site in South Bend into Self-Storage Facility

by Kristin Harlow January 31, 2023

SOUTH BEND, IND. — Holladay Properties is converting an industrial site at 850 Marietta St. in South Bend into a 39,990-square-foot self-storage facility. Store Space Self Storage will manage the facility, which is slated to open in the second quarter. The property will feature four buildings with 183 climate-controlled units and 165 drive-up units. Store Space will provide day-to-day operations, call center support, marketing, branding and technology solutions. Holladay expects to partner with Store Space on additional locations.

January 31, 2023

Acquisitions Illinois Midwest Office

Entre Commercial Realty Brokers Sale of 21,500 SF Office Building in McHenry, Illinois

by Kristin Harlow January 31, 2023

MCHENRY, ILL. — Entre Commercial Realty has brokered the sale of a 21,500-square-foot office building located at 420 Front St. in McHenry for an undisclosed price. The two-story property was built in 2000. Dan Jones, Dan Benassi and Sam Deihs of Entre represented the seller, Glacier Properties. Community Consolidated School District 15 purchased the buildings with plans to utilize it as a new central office for the McHenry School District.

January 31, 2023

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