Property Type

Hall Capital, Pillar Commercial Acquire 190,745 SF Office Building in Allen, Texas

by Taylor Williams January 12, 2023

ALLEN, TEXAS — A joint venture between two investment firms, Oklahoma-based Hall Capital and Dallas-based Pillar Commercial, has acquired One Bethany West, a 190,745-square-foot office building located in the northeastern Dallas suburb of Allen. The building is located within the Watters Creek mixed-use development and is home to tenants such as MD7, Micron Technologies and Highland Residential. The seller was Kaizen Development Partners. JLL arranged acquisition financing through BancFirst on behalf of the new ownership.

January 12, 2023

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Arranges Sale of 197-Unit Self-Storage Facility in Amarillo

by Taylor Williams January 12, 2023

AMARILLO, TEXAS — Marcus & Millichap has arranged the sale of Camp Lane Storage, a 197-unit facility located in the northwest Texas city of Amarillo. The property 24,440 spans square feet of net rentable, non-climate-controlled space and also includes 20 outdoor parking spaces. Arol Horkavy and Jon Danklefs of Marcus & Millichap represented the seller and procured the buyer in the transaction. Both parties were limited liability companies that requested anonymity.

January 12, 2023

Leasing Activity Restaurant Retail Texas

Radom Capital Welcomes Six New Tenants to Office, Retail Development in Houston

by Taylor Williams January 12, 2023

HOUSTON — Locally based developer Radom Capital has welcomed six new tenants to Montrose Collective, an office and retail development in Houston. Concepts coming to the property include restaurants Graffiti Raw and Picnik — opening this month and in the spring, respectively — as well as four fitness and beauty concepts. SISU, a med spa, will debut in February, while Studio BE, Glosslab and Skin Laundry will open later this year. Montrose Collective, which currently features 15 retailers and five restaurants, is now 97 percent leased.

January 12, 2023

Acquisitions Affordable Housing Maryland Multifamily Southeast

Enterprise Community Development Acquires Metro D.C. Workforce Housing Community for $20M

by John Nelson January 12, 2023

SILVER SPRING, MD. — Enterprise Community Development Inc. has purchased Parkside Terrace Apartments, an 87-unit workforce housing community located in Silver Spring, a suburb of Washington, D.C. The buyer plans to preserve the natural occurring affordable housing (NOAH) property by reserving units for households earning up to 60 percent of area median income (AMI). Enterprise Community Development purchased the community from an undisclosed seller for $20 million. The Montgomery County Department of Housing and Community Affairs provided a $5 million bridge loan to the buyer through its Affordable Housing Opportunity Fund. Built in 1962, Parkside Terrace comprises one- and two-bedroom units spread across three- and four-story garden-style apartment buildings. Enterprise Community Development plans to make capital improvements to the property.

January 12, 2023

Affordable Housing Development Loans Multifamily Southeast Tennessee

Amazon Housing Equity Fund Provides $18.8M Loan for Affordable Housing Project in Nashville

by John Nelson January 12, 2023

NASHVILLE, TENN. — The Amazon Housing Equity Fund has provided an $18.8 million construction loan for Harpeth Valley Apartments, a 251-unit, garden-style affordable housing development located at 8101 McCrory Lane in Nashville. The fund is Amazon’s more than $2 billion commitment to create and preserve affordable housing in the markets where it has corporate campuses: Seattle, Northern Virginia and Nashville. C.W. Early of JLL arranged the long-term, fixed-rate loan on behalf of the borrower, Elmington Capital. Set for completion in late 2024, Harpeth Valley will feature units that are affordable to households earning 60 percent of the area median income (AMI) through 2072. The property will consist of one-, two- and three-bedroom apartments, as well as a clubhouse, exercise room, pool, onsite management, bike storage and common area Wi-Fi.

January 12, 2023

Acquisitions Maryland Retail Southeast

KLNB Arranges $10.8M Sale of Shopping Center in Upper Marlboro, Maryland

by John Nelson January 12, 2023

UPPER MARLBORO, MD. — KLNB has arranged the $10.8 million sale of Marlboro Square, a 92,649-square-foot shopping center located at 5715 Crain Highway in Upper Marlboro, a suburb of Washington, D.C. Vito Lupo, Chris Burnham, Andy Stape and Jake Furnary of KLNB represented the seller, an entity doing business as Marlboro Investors LLC, in the transaction. Renaud Consulting represented the undisclosed buyer. Marlboro Square was fully leased at the time of sale to tenants including grocery anchor Weis, Advance Auto Parts and Dollar Tree, as well as medical, fitness and food-and-beverage tenants.

January 12, 2023

Development Loans Multifamily Northeast Pennsylvania Walker & Dunlop

Walker & Dunlop Arranges $134.6M Construction Loan for Philadelphia Multifamily Project

by Taylor Williams January 12, 2023

PHILADELPHIA — Walker & Dunlop has arranged a $134.6 million construction loan for Northern Liberties, 360-unit multifamily project that will be located at 200 Spring Garden St. in Philadelphia. The transit-served building will offer a pool, fitness center, coworking lounge, conference center and a party room, as well as 23,070 square feet of retail space. Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz and Mo Beler of Walker & Dunlop arranged the loan through insurance company Ullico on behalf of the borrower and developer, a partnership between Kushner Real Estate Group and National Real Estate Advisors.

January 12, 2023

Acquisitions Georgia Restaurant Southeast

Palomar Group Brokers $2.8M Sale of Augusta Restaurant Leased to Steak N Shake

by John Nelson January 12, 2023

AUGUSTA, GA. — The Palomar Group has brokered the $2.8 million sale of a 3,512-square-foot restaurant located at 4329 Belair Frontage Road in Augusta. The property is triple-net-leased to Steak N Shake, a diner chain that serves burgers, fries and milkshakes. Steak N Shake has approximately 15 years remaining on its lease term, which features a 10 percent rental increase every five years. The restaurant is situated at a signalized intersection off I-20 and near Fort Gordon Army Base. An investment firm based in New Britain, Conn., purchased the restaurant from an entity based in Aiken, S.C. Both parties requested anonymity.

January 12, 2023

Industrial Leasing Activity Massachusetts Northeast

Cushman & Wakefield Negotiates 260,150 SF Industrial Lease in Taunton, Massachusetts

by Taylor Williams January 12, 2023

TAUNTON, MASS. — Cushman & Wakefield has negotiated a 260,150-square-foot industrial lease in Taunton, located about 40 miles south of Boston. The tenant, Ferguson Plumbing Supply, will occupy space at Taunton Trade Center, a 584,640-square-foot speculative development. The newly built complex features a clear height of 40 feet, 112 loading docks, 546 car parking spaces and 132 trailer parking stalls. Philip Verre, Rob Byrne, Pete Whoriskey and Paul Leone of Cushman & Wakefield represented the landlord, Martignetti Cos., in the lease negotiations. CBRE represented the tenant.

January 12, 2023

Development Florida Industrial Leasing Activity Southeast

Lumber Supplier Signs 75,000 SF Industrial Lease in Punta Gorda, Florida

by John Nelson January 12, 2023

PUNTA GORDA, FLA. — Dakota Premium Hardwoods, a hardwood lumber and cabinet product supplier based in Waco, Texas, has signed a 75,000-square-foot industrial lease at 9450 Piper Road in Punta Gorda. The tenant will occupy space within Florida Gulf Coast Logistics Center, a 378,000-square-foot speculative facility being developed within Enterprise Charlotte Airport Park. Dan Miller of Colliers represented the landlord, Equus Capital Partners Ltd., in the lease transaction. Rian Smith of CBRE represented the tenant. Dakota Premium Hardwoods expects to move into its new warehouse and distribution space in September, according to Colliers.

January 12, 2023

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