Property Type

Blackfin Sells Pressley South End Apartments in Charlotte for $78M

by John Nelson August 30, 2022

CHARLOTTE, N.C. — Blackfin Real Estate Investors has sold Pressley South End, a 504-unit apartment community located at 1210 Pressley Road in Charlotte’s South End submarket. The undisclosed buyer purchased the community for $78 million. Built in 1969, the property comprises one-, two- and three-bedroom units and features onsite management and maintenance teams, a basketball court, playground, pet park and a walking trail. Deaton Investment Real Estate represented Blackfin in the transaction, which is the firm’s third sale in 2022. Blackfin purchased Pressley South End in June 2017 for $19 million.

August 30, 2022

Development Florida Loans Southeast Student Housing

Trinitas Receives $67.3M Construction Financing for Student Housing Development Near UCF in Orlando

by John Nelson August 30, 2022

ORLANDO, FLA. — Trinitas Ventures, a multifamily and mixed-use developer based in Lafayette, Ind., has received $67.3 million in construction financing for a 286-unit, 750-bed student housing development located near the University of Central Florida campus in Orlando. Citizens Financial Group’s commercial real estate finance team is acting as the sole lead arranger, book runner and administrative agent for the financing. Further details of the project were not disclosed. Citizens has also financed Trinitas student housing projects at Miami University in Ohio, Washington State University and University of Nebraska.

August 30, 2022

Acquisitions Healthcare Mixed-Use Retail Southeast Tennessee

PEBB Enterprises Sells Mixed-Use Shopping Center in Suburban Memphis for $35.5M

by John Nelson August 30, 2022

GERMANTOWN, TENN. — PEBB Enterprises has sold Germantown Village Square, a 199,142-square-foot mixed-use property located at 7670 Poplar Ave. in the Memphis suburb of Germantown. Evan Halkias and Margaret Jones of Cushman & Wakefield represented PEBB in its $35.5 million sale of the property to Hendon Properties LLC. Germantown Village Square includes 138,995 square feet of ground-floor retail space and 60,147 square feet of second-floor office space occupied primarily by West Clinic, a subsidiary of Baptist Memorial Health Services. Built in 1975 and renovated in 2000, the center was 90 percent leased at the time of sale to tenants including T.J. Maxx, DSW, Ulta Beauty, Old Navy and Five Below.

August 30, 2022

Acquisitions Florida Industrial Southeast

Westmount Realty Capital Sells 246,818 SF Refrigerated Warehouse in St. Augustine, Florida

by John Nelson August 30, 2022

ST. AUGUSTINE, FLA. — Westmount Realty Capital has sold a 246,818-square-foot refrigerated warehouse located at 4055 Deer Park Blvd. in St. Augustine. Built on 25 acres in 1994, the property was fully leased at the time of sale to KeHE Distributors, a national wholesale food distributor. The firm has been a tenant at the Deer Park facility since 2008. The buyer and sales price were not disclosed.

August 30, 2022

Acquisitions Industrial Maryland Southeast

Cushman & Wakefield Arranges Sale of 200,000 SF Industrial Property in Baltimore

by John Nelson August 30, 2022

BALTIMORE — Cushman & Wakefield has arranged the sale of a 200,000-square-foot warehouse at 3501 E. Biddle St. in Baltimore. The 36-acre site is situated near the Port of Baltimore, I-95 and I-895 and includes two acres of available land for leasing. Metro Chicago-based Industrial Outdoor Ventures (IOV) purchased the property from SK Realty for an undisclosed price. Jonathan Carpenter, Graham Savage and McLane Fisher of Cushman & Wakefield represented IOV in the transaction. The warehouse was fully leased to three tenants at the time of sale.

August 30, 2022

Acquisitions Build-to-Rent Development Single-Family Rental Texas

Empire Group Acquires 48 Acres in Fort Worth for Build-to-Rent Residential Project

by Taylor Williams August 30, 2022

FORT WORTH, TEXAS — Arizona-based developer Empire Group of Cos. has acquired 48 acres near North Riverside Drive and Golden Triangle Boulevard in Fort Worth for the construction of a build-to-rent residential project. Empire plans to develop Village at Golden Triangle, which will comprise 323 homes on 30 acres, and sell the remaining 18 acres, which are zoned for office and/or retail development. Homes will come in a mix of one-, two- and three-bedroom formats with private backyards, and residential amenities will include a pool, outdoor grilling areas, a fitness center, walking paths, community clubhouse and a dog park. Construction is set to begin in the first quarter of 2023. Details of the commercial component were not disclosed. Empire Group acquired the land for $16 million.

August 30, 2022

Leasing Activity Life Sciences Texas

Cellipont Bioservices Signs 76,245 SF Life Sciences Lease in The Woodlands

by Taylor Williams August 30, 2022

THE WOODLANDS, TEXAS — Cellipont Bioservices, a California-based biotechnology company specializing in cell therapy treatments, has signed a 76,245-square-foot life sciences lease in The Woodlands, located about 30 miles north of Houston. The facility will be constructed in phases from the ground up, with initial operations expected to commence during the first half of 2023. Zach Leger and Holden Rushing of NAI Partners represented the tenant in the lease negotiations. Dave Baker and Brian Buglione of JLL represented the landlord, Vitrian.

August 30, 2022

Leasing Activity Office Texas

CBRE Negotiates 64,018 SF Office Lease at Westway Plaza in Houston

by Taylor Williams August 30, 2022

HOUSTON — CBRE has negotiated a 64,018-square-foot office lease at Westway Plaza, a 325,000-square-foot building located two miles northwest of Houston’s Energy Corridor. Kevin Saxe of CBRE represented the tenant, independent oil and gas provider Surge Energy, in the lease negotiations. Surge Energy is relocating from nearby Heron Lakes Office Park and adding 25,000 square feet to its corporate footprint. The move-in is scheduled for February 2023.

August 30, 2022

Industrial Leasing Activity Lee & Associates Texas

Lee & Associates Arranges 38,353 SF Industrial Lease in North Dallas

by Taylor Williams August 30, 2022

DALLAS — Lee & Associates has arranged a 38,353-square-foot industrial lease at 9755 Clifford Drive in North Dallas. According to LoopNet Inc., the property was built in 2001 and spans 114,400 square feet. Adam Graham and Stephen Williamson of Lee & Associates represented the landlord, Link Industrial Properties, in the lease negotiations. The name and representative of the tenant were not disclosed.

August 30, 2022

Development Indiana Midwest Multifamily

TWG Underway on $57M Apartment Development in Westfield, Indiana

by Kristin Harlow August 30, 2022

WESTFIELD, IND. — TWG is underway on construction of Grand Park Village, a $57 million apartment development in Westfield, a northern suburb of Indianapolis. The project will consist of several buildings located directly south of Grand Park, a 400-acre youth and recreational sports complex. The 240-unit apartment community will feature amenities such as a dog park, fitness center, clubhouse, pool and grilling stations. Centier Bank provided project financing. Completion is slated for summer 2024.

August 30, 2022

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