Property Type

Northmarq Arranges Sale of 260-Unit Boulevard Apartments in Tampa Bay Area

by John Nelson January 26, 2023

LARGO, FLA. — Northmarq has arranged the sale of The Boulevard, a 260-unit apartment community located at 2098 Seminole Blvd. in the Tampa Bay city of Largo. The Connor Group purchased the community from Atlanta-based RangeWater Real Estate for an undisclosed price. Luis Elorza, Justin Hofford and Kevin Mosher of Northmarq’s Tampa office brokered the transaction. Built in 2016, The Boulevard features one-, two- and three-bedroom apartments averaging 1,106 square feet in size. Amenities include a resort-style pool with a sun deck, outdoor fireplace, outdoor bar with grills, screened-in gazebo with billiards, TV, wet bar and a fireplace. The property’s clubhouse features an indoor SwimSpa resistance pool, 24/7 Luxor One package room, coffee bar, business center, theater and a fitness center that offers on-demand classes.

January 26, 2023

Acquisitions Arkansas Industrial Southeast

Phoenix Investors Buys 130,000 SF Industrial Building in Pine Bluff, Arkansas

by John Nelson January 26, 2023

PINE BLUFF, ARK. — An affiliate of Milwaukee-based Phoenix Investors has purchased a 130,000-square-foot industrial building located at 3411 N. Hutchinson St. in Pine Bluff. The seller and sales price were not disclosed. Built in 1986, the turnkey property is currently vacant and is available for a single tenant or multiple users. Situated on 15 acres about 45 miles south of Little Rock, the facility features 27-foot clear heights and 40- by 40-foot column spacing, as well as rail access via CSX Greenbrier Rail. Phoenix Investors specializes in the acquisition and renovation of former manufacturing facilities and currently holds interest in approximately 62 million square feet of space across 29 states.

January 26, 2023

Acquisitions Midwest Office Ohio

JLL Brokers Sale of 303,130 SF Office Portfolio in Cincinnati

by Kristin Harlow January 26, 2023

CINCINNATI — JLL Capital Markets has brokered the sale of a two-building office portfolio totaling 303,130 square feet in Cincinnati for an undisclosed price. The first asset, 400 Oak St., rises seven stories and spans 156,000 square feet. Originally built in 1924, the building was renovated in 2011. The second property, 2905 Vernon Place, is a four-story, 147,130-square-foot building that was constructed in 2017. The two properties are fully leased to Cincinnati Children’s Hospital Medical Center for administrative functions and other nonclinical uses. Jaime Fink, Bruce Miller, Sam DiFrancesca and Patrick Shields of JLL represented the seller, 90 North Real Estate LLP, and procured the buyer, Azora Exan. Keith Largay and Lucas Borges of JLL arranged acquisition financing on behalf of the buyer.

January 26, 2023

Loans Midwest Minnesota Multifamily Northmarq

Northmarq Provides $6.8M Loan for Refinancing of Apartment Community in Buffalo, Minnesota

by Kristin Harlow January 26, 2023

BUFFALO, MINN. — Northmarq has provided a $6.8 million Fannie Mae loan for the refinancing of Evergreen Square Apartments in Buffalo, about 40 miles northwest of Minneapolis. The 78-unit apartment community, built in 1990, is located at 911 6th Ave. The three-story property features amenities such as laundry facilities and a playground. Mike Padilla of Northmarq originated the seven-year loan, which features a fixed interest rate and a 35-year amortization schedule.

January 26, 2023

Acquisitions Illinois Midwest Office

Marcus & Millichap Negotiates $3M Sale of Office Building in Plainfield, Illinois

by Kristin Harlow January 26, 2023

PLAINFIELD, ILL. — Marcus & Millichap has negotiated the $3 million sale of a 20,281-square-foot office building in Plainfield, about 40 miles southwest of Chicago. Located at 23909 W. Renwick Road, the property is fully occupied and features a new roof and parking lot. The seller, a Chicagoland limited liability company, purchased the building a little over a year ago and decided to sell it after marking repairs and adding tenants. Tammy Saia and Tami Andrew of Marcus & Millichap represented the seller. The buyer was undisclosed.

January 26, 2023

Loans Michigan Midwest Office

Bernard Financial Group Arranges $2M in Financing for Office Property in Auburn Hills, Michigan

by Kristin Harlow January 26, 2023

AUBURN HILLS, MICH. — Bernard Financial Group has arranged $2 million in permanent financing for a 21,256-square-foot office property in Auburn Hills. Dennis Bernard and Joshua Bernard arranged the loan on behalf of the borrower, Auburn Office Center LLC. StanCorp Life Insurance Co. provided the loan, terms of which were undisclosed.

January 26, 2023

Development Industrial Texas

Seefried, USAA Break Ground on 315,440 SF Logistics Center in Metro Dallas

by Taylor Williams January 26, 2023

ROCKWALL, TEXAS — A partnership between Atlanta-based developer Seefried Industrial Properties and San Antonio-based USAA Real Estate has broken ground on Rockwall Park 30, a 315,440-square-foot logistics center that will be located on the northeastern outskirts of Dallas. The 23-acre site is located just off I-30. Rockwall Park 30’s two rear-load buildings, which are being developed on a speculative basis, will offer 32-foot clear heights and a total of 88 dock-high doors and four grade-level doors. Pross Design Group is the project architect, and E.E. Reed is the general contractor. KBC Advisors is leasing the development, which is slated for a fourth-quarter completion.

January 26, 2023

Development Multifamily Seniors Housing Texas

Journey Capital Completes 107-Unit Seniors Housing Project in Aledo, Texas

by Taylor Williams January 26, 2023

ALEDO, TEXAS — Dallas-based development and investment firm Journey Capital has completed Harvest at Aledo, a 107-unit seniors housing project located about 20 miles west of Fort Worth. The property consists of 87 assisted living and memory care units and 20 independent living residences. In addition, Harvest at Aledo offers an all-day bistro, personalized care plans, leisure activities and restaurant-style dining options. Journey Capital has tapped Civitas Senior Living to operate the community.

January 26, 2023

Leasing Activity Office Texas

Dickies Signs 84,000 SF Office Headquarters Lease in Downtown Fort Worth

by Taylor Williams January 26, 2023

FORT WORTH, TEXAS — Apparel retailer Dickies has signed an 84,000-square-foot office headquarters lease at 500 Taylor St. in downtown Fort Worth. Chris Doggett and Cullen Donohue of Stream Realty Partners represented the landlord, Illinois-based SADA Capital Parnters, in the lease negotiations. Randy Cooper and Wills Bauer, also with Stream, represented Dickies. SADA Capital Partners purchased the six-story building in June 2022 and is in the process of launching a capital improvement program.

January 26, 2023

Development Industrial Texas

U-Haul to Open 59,000 SF Warehouse in Grand Prairie, Texas

by Taylor Williams January 26, 2023

GRAND PRAIRIE, TEXAS — U-Haul will open a 59,000-square-foot warehouse in Grand Prairie, located roughly midway between Dallas and Fort Worth, that will be used to store portable storage and moving containers known as “U Boxes.” The 2.5-acre site is located at the northeast corner of I-20 and State Highway 360. The single-story, tilt-wall building will be situated adjacent to an existing U-Haul self-storage facility. Dallas-based MYCON General Contractors has begun construction on the project, and completion is scheduled for May.

January 26, 2023

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