Property Type

Edge Realty Partners Arranges Sale of 245,592 SF Shopping Center in Metro Austin

by Taylor Williams April 21, 2022

ROUND ROCK, TEXAS — Edge Realty Partners has arranged the sale of Round Rock Crossing, a 245,592-square-foot shopping center in the northern Austin suburb of Round Rock. Built in phases on 31.5 acres between 2004 and 2006, the eight-building property was 52 percent leased at the time of sale to 18 tenants. The roster includes Best Buy, Michael’s, Dollar Tree, Vitamin Shoppe, Five Guys and Salons by JC. Mart Martindale and Brandon Beeson of Edge Realty Partners represented the undisclosed seller in the transaction. The buyer, Los Angeles-based BH Properties, intends to execute a value-add program at Round Rock Crossing.

April 21, 2022

Acquisitions Industrial Texas

M2G Ventures Acquires Eight Dallas Industrial Buildings Totaling 207,000 SF

by Taylor Williams April 21, 2022

DALLAS — Locally based investment firm M2G Ventures has acquired eight industrial buildings totaling approximately 207,000 square feet in the West Brookhollow submarket of Dallas. The properties, the six-building Commonwealth Industrial Park and two buildings plus an adjacent parcel on Woodall Street, comprise a total of 11.6 acres. M2G Ventures plans to implement a value-add program. The seller and sales price were not disclosed.

April 21, 2022

Data Centers Development Industrial Texas

Sabey Data Centers to Develop 72-Megawatt Facility in Metro Austin

by Taylor Williams April 21, 2022

ROUND ROCK, TEXAS — Seattle-based developer and operator Sabey Data Centers will develop a facility in the northern Austin suburb of Round Rock that will have the capacity to produce up to 72 megawatts of power. The two-building development will be situated on a 40-acre site and will be primarily marketed to hyperscale cloud users. Preliminary sitework is underway, and Sabey plans to break ground in June and to deliver the facility in the first quarter of 2023.

April 21, 2022

Acquisitions Multifamily Texas

Next Wave Investors Buys 232-Unit Casa Luna Apartments in East Dallas

by Taylor Williams April 21, 2022

DALLAS — Next Wave Investors, a private equity firm based in Southern California, has purchased Casa Luna Apartments, a 232-unit multifamily community in East Dallas. The property was built in 1969 and features one-, two- and three-bedroom units and amenities such as a playground, clubhouse, lounge, courtyard and onsite laundry facilities. Next Wave plans to implement a value-add program to enhance unit interiors, building exteriors, utility systems and landscaping. The seller and sales price were not disclosed.

April 21, 2022

Leasing Activity Office Texas

Houlihan Lokey Signs 74,805 SF Office Lease in Uptown Dallas

by Taylor Williams April 21, 2022

DALLAS — Global investment bank Houlihan Lokey has signed a 74,805-square-foot office lease at The Link at Uptown, a 25-story building in Dallas. Houlihan Lokey will occupy the top three floors of the Class A building beginning in early 2023. Travis Ewert of Colliers and Jihane Boury of CBRE represented the Los Angeles-based tenant in the lease negotiations. JLL’s Blake Shipley and Thirty-Four Commercial’s Sarah Kennington and Bryce Jackson represented the landlord, Kaizen Development Partners. Other tenants at The Link at Uptown include global law firm Shearman & Sterling and digital marketing agency PMG.

April 21, 2022

Acquisitions New York Northeast Office

SL Green Agrees to Purchase 450 Park Avenue in Midtown Manhattan for $445M

by Taylor Williams April 21, 2022

NEW YORK CITY — SL Green Realty Corp. (NYSE: SLG) has entered into an agreement to purchase 450 Park Avenue, a 33-story office building in Midtown Manhattan, for $445 million. The seller, Oxford Properties, is also a tenant in the 337,000-square-foot building, which was originally designed by Emery Roth & Sons. Other office users include Banco Bradesco and BDT Capital Partners, and the retail space will soon house a showroom for luxury automaker Aston Martin. Darcy Stacom, William Shanahan and Doug Middleton of CBRE brokered the deal, which is expected to close in the second quarter.

April 21, 2022

California Development Life Sciences Loans Western

Square Mile Capital Provides $118M in Development Financing for Life Sciences Development in San Carlos, California

by Amy Works April 21, 2022

SAN CARLOS, CALIF. — Square Mile Capital Management has originated a $118 million loan to finance the development of 777 Industrial Road, a planned R&D and life sciences lab building in the Bay Area city of San Carlos. The borrower is a partnership managed by Presidio Bay Ventures, which purchased the former car dealership site in 2020. The project team plans to develop a four-story, 150,000-square-foot, Class A building on top of an existing parking podium at the site. The property will feature lab buildouts, a fitness center with full locker rooms, a 4,000-square-foot rooftop deck and ample outdoor seating. Jeff Wilcox of Gantry arranged the financing.

April 21, 2022

Development Florida Industrial Southeast

VanTrust Breaks Ground on Three Industrial Buildings in Jacksonville Totaling 1.7 MSF

by Julia Sanders April 21, 2022

JACKSONVILLE, FLA. — Kansas City-based VanTrust Real Estate LLC has broken ground on three industrial buildings at its Imeson Park South property in Jacksonville totaling approximately 1.7 million square feet. The three projects currently underway include a 200,000-square-foot build-to-suit building, one 547,200-square-foot speculative building on approximately 33 acres and a 1 million-square-foot building on about 63 acres. Building amenities at both speculative buildings include ample automobile, dock and trailer parking. Construction on all three buildings is expected to be complete by the second quarter of 2023. Located at 1511 Zoo Parkway, the property is situated 10.5 miles from Jacksonville International Airport and 3.1 miles from the Jacksonville Zoo. VanTrust purchased the 196-acre Imeson Park South property in October 2021.

April 21, 2022

Industrial Loans New York Northeast

Chase Bank Provides $60.8M Loan for Refinancing of New York City Industrial Portfolio

by Taylor Williams April 21, 2022

NEW YORK CITY — Chase Bank has provided a $60.8 million loan for the refinancing of a portfolio of seven light industrial properties totaling 199,457 square feet in New York City. Three of the properties are located in Brooklyn; two are in Queens, and two are in The Bronx. The Class B properties offer clear heights ranging from 16 to 28 feet, 20 loading positions, some office finish and ample parking. The portfolio was fully leased to eight tenants at the time of the loan closing. Greg Nalbandian, Jim Cadranell, Michael Lachs and Alex Staikos of JLL arranged the 10-year, nonrecourse loan, which carried a fixed interest rate, on behalf of the borrower, metro Philadelphia-based Seagis Property Group.

April 21, 2022

Acquisitions Florida Multifamily Seniors Housing Southeast

Grandbridge Negotiates $45M Sale of Seniors Housing Community in Metro Orlando

by Julia Sanders April 21, 2022

CHAMPIONSGATE, FLA. — Grandbridge Real Estate Capital has negotiated the sale of Merrill Gardens at ChampionsGate, a 223-unit seniors living campus in ChampionsGate, approximately 25 miles southwest of downtown Orlando. David Kliewer and Jay Jordan of Charlotte-based Grandbridge facilitated the $45 million sale to funds managed by Fortress Investment Group, which has tapped Watermark Retirement Communities to manage the property. The new owner also changed the property’s name to The Glades at ChampionsGate. Built in 2017, the community offers 114 independent living, 73 assisted living and 36 memory care units. Following challenges in meeting the operating covenants of the bond structure, in July 2021 a court order appointed William King of WK Financial as receiver.

April 21, 2022

Newer Posts

Older Posts