Property Type

NRP Group Breaks Ground on 310-Unit South Tryon Apartments in Charlotte

by John Nelson February 10, 2023

CHARLOTTE, N.C. — The NRP Group has broken ground on South Tryon, a multifamily development located at 3310 S. Tryon St. in Charlotte’s South End. Totaling five stories, the apartment community will comprise 310 units in one-, two- and three-bedroom layouts. Amenities at the property will include a fitness center, coworking space, indoor bike room, club room and social area, dog wash and park, a pool, courtyards and an outdoor cooking and dining area. Delivery of the project is scheduled for 2025. Canyon Partners Real Estate provided an equity investment in conjunction with a senior construction loan from CIBC Bank USA to finance the project.

February 10, 2023

Development Life Sciences North Carolina Southeast

Crescent, Nuveen Begin Construction on 322,000 SF Second Phase of Metro Raleigh Biomanufacturing Campus

by John Nelson February 10, 2023

HOLLY SPRINGS, N.C. — Crescent Communities and Nuveen Real Estate have broken ground on the second phase of THE YIELD, a speculative biomanufacturing development in Holly Springs, roughly 20 miles southwest of Raleigh. This phase will comprise three shell-ready, cGMP (Current Good Manufacturing Practice) biomanufacturing buildings totaling 322,000 square feet. The first two buildings are scheduled for completion in late 2023, with the third delivery expected in spring 2024. Including the first phase, which was sold to Apollo Global Real Estate and GeneSuites and is now known as Catalyst BioCampus, the development will total 2 million square feet of biomanufacturing, office/lab and retail space.

February 10, 2023

Development Florida Industrial Southeast

MDH Partners Delivers 350,878 SF Industrial Building in Ocala, Florida

by John Nelson February 10, 2023

OCALA, FLA. — MDH Partners has completed construction on Ocala Logistics Center, a 350,878-square-foot speculative distribution facility situated on 27.9 acres in Ocala. Located at the corner of Northwest 35th Street and Northwest 27th Avenue, the property features 196 parking spaces, 96 trailer drops, ESFR sprinkler systems and 36-foot clear heights. The building allows for single or multi-tenant occupancy and includes 2,759 square feet of office space, LED warehouse lighting and six dock levelers. Peak Development Co. served as development manager on the project, and Avison Young is handling leasing on behalf of MDH Partners.

February 10, 2023

Acquisitions Georgia Retail Southeast

Coro Realty, Pope & Land Sell Three Metro Atlanta Shopping Centers Totaling 120,000 SF

by John Nelson February 10, 2023

ALPHARETTA, KENNESAW AND ROSWELL, GA. — Coro Realty and Pope & Land Enterprises have sold three shopping centers totaling 120,000 square feet in metro Atlanta in recent months. The joint venture acquired the properties as a portfolio in February 2020, purchasing them from Muntzing-Sattele. Most recently, the partnership completed the disposition of Brookside Station, a 23,500-square-foot retail center located on Old Milton Parkway in Alpharetta, a northeast suburb of Atlanta. Zach Taylor of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the sellers in the transaction. The buyer was Last Mile Investments. In August 2022, Coro Realty and Pope & Land sold Town Center Oaks, a 52,000-square-foot shopping center in Kennesaw, roughly 30 miles northwest of Atlanta. Additionally, Mimms Enterprises acquired Mansell Oaks, a 43,000-square-foot property located in Roswell, from the partners in November 2022. Taylor represented Coro Realty and Pope & Land in all three transactions, which totaled more than $29 million. “In each sale, the sellers secured compelling cap rates and the buyers added well-located, north Atlanta centers with upside to their portfolios,” says Taylor. “It was a true win-win.”

February 10, 2023

Acquisitions Retail South Carolina Southeast

NAI Columbia Sells 40,883 SF Retail Center in Columbia, South Carolina

by John Nelson February 10, 2023

COLUMBIA, S.C. — NAI Columbia has sold a 40,883-square-foot retail center located at 3900 N. Main St. in Columbia’s NOMA District for an undisclosed price. Dubbed the “Ultra Hub,” a 30,000-square-foot O’Reilly Auto Parts store, warehouse and distribution center anchors the property. North Main Kidney Center and TitleMax are also tenants at the shopping center. NAI Columbia’s development team purchased the property, formerly home to a BI-LO grocery store, in December 2021 before making extensive renovations. Ben Kelly and Patrick Chambers of NAI Columbia brokered the sale to the undisclosed buyer.

February 10, 2023

California Development Multifamily Seniors Housing Western

Clearwater Living Opens 117-Unit Seniors Housing Community in Glendora, California

by Jeff Shaw February 10, 2023

GLENDORA, CALIF. — Clearwater Living has opened Clearwater at Glendora, a 117-unit assisted living and memory care community in Glendora. The property is a two-story, 117,000-square-foot property offering 88 assisted living and 29 memory support apartments with studio, companion, one- and two-bedroom layouts. It is the only assisted living and memory care community in Glendora, according to the developer. Clearwater at Glendora is the company’s 10th seniors housing community in California, Arizona and Nevada, with plans for additional developments in the pipeline.

February 10, 2023

Acquisitions Illinois Midwest Retail

Mid-America Brokers Sale of 116,992 SF Shopping Center in Countryside, Illinois

by Kristin Harlow February 10, 2023

COUNTRYSIDE, ILL. — Mid-America Real Estate Corp. has brokered the sale of Salem Square in Countryside, a southwest suburb of Chicago. The sales price was undisclosed. The 116,992-square-foot shopping center is fully leased to tenants such as TJ Maxx, HomeGoods, Marshalls, ATI Physical Therapy, Famous Footwear, Mangia Mangia, Great Clips, Card Frenzy and Magic Nails. Rick Drogosz and Joe Girardi of Mid-America represented the seller, IRC Retail Centers/DRA Advisors. A private real estate investment firm was the buyer.

February 10, 2023

Illinois Leasing Activity Midwest Office

Network Services Co. Signs 40,000 SF Office Lease at Schaumburg Towers in Suburban Chicago

by Kristin Harlow February 10, 2023

SCHAUMBURG, ILL. — Distribution company Network Services Co. has signed a 40,000-square-foot office lease at Schaumburg Towers in the Chicago suburb of Schaumburg. The two-building, 882,000-square-foot office property is now 78 percent leased. Since 2017, American Landmark Properties has invested more than $20 million to renovate the asset. Steve Kling and David Florent of Colliers represented the landlord in the lease. James Otto and Hank Cox of CBRE represented the tenant.

February 10, 2023

Acquisitions Midwest Missouri Retail

Marcus & Millichap Negotiates $6.9M Sale of Retail Center in Blue Springs, Missouri

by Kristin Harlow February 10, 2023

BLUE SPRINGS, MO. — Marcus & Millichap has negotiated the $6.9 million sale of Copperleaf Village in Blue Springs, about 19 miles southeast of downtown Kansas City. The 32,978-square-foot retail center was 82 percent leased at the time of sale. Tenants consist of medical, dental, restaurant, convenience, fitness and insurance companies. The property was originally built in 1973 and renovated in 2006. Zach Turner, Scott Wiles, Erin Patton and Craig Fuller of Marcus & Millichap represented the seller, a Kansas City-based partnership. The team also procured the buyer, an out-of-state limited liability company.

February 10, 2023

Indiana Leasing Activity Midwest Restaurant Retail

Tinker Coffee to Open at 360 Market Square in Downtown Indianapolis

by Kristin Harlow February 10, 2023

INDIANAPOLIS — Tinker Coffee Co. is opening a new location at 360 Market Square in downtown Indianapolis this spring. The 360 Market Square location will be Tinker’s fourth café, but its first standalone offering that is not in the airport or a food hall. Tinker currently maintains two locations in the Indianapolis International Airport and one in the AMP food hall, an artisan marketplace and food hall located in the 16 Tech Innovation District in downtown Indianapolis. The downtown café will be open seven days a week. Flaherty & Collins is the owner and developer behind 360 Market Square, an apartment building with an attached Whole Foods Market.

February 10, 2023

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