Property Type

Lee & Associates Arranges $11M Sale of Industrial Building in Poway, California

by Amy Works October 28, 2022

POWAY, CALIF. — Lee & Associates has brokered the sale of an industrial property located at 13535 Danielson St. in Poway. The freestanding building traded for $11 million in an off-market transaction. The single-tenant, 30,667-square-foot building is fully temperature controlled and offers two dock-high doors, one grade-level door and 26-foot clear heights. Rusty Williams, Chris Roth and Jake Rubendall of Lee & Associates North San Diego County represented the undisclosed seller, while Ryan Earnhart of Lee & Associates Ontario represented the undisclosed buyer in the deal.

October 28, 2022

Acquisitions Arizona Office Restaurant Retail Western

Tortosa Sells Retail/Office Property in Phoenix for $4.4M

by Amy Works October 28, 2022

PHOENIX — Tortosa LLC has completed the disposition of The Strip, a two-story retail and office building in Phoenix, to 4700 Alliance LLC, a Seattle-based investment company, for $4.4 million. Located at 4700 N. 12th St., the multi-tenant property was fully leased at the time of sale. The ground-floor space consists of retail tenants, including a craft beer and wine bar/restaurant, a craft coffee shop, a wine shop and café, a locally famous cake bakery and a soon-to-be completed speakeasy bar and co-working lounge. The second floor includes a salon, two architectural firms, a fitness tech company and headquarters for a restaurant group. Eric Wichterman, Mike Coover, Steve Lindley and Alexandra Loye of Cushman & Wakefield’s private capital and capital markets teams in Phoenix represented the seller in the transaction.

October 28, 2022

Development Mixed-Use Multifamily Texas

De La Vega, StreetLights Break Ground on 27-Acre Mixed-Use Development in North Dallas

by Taylor Williams October 28, 2022

DALLAS — Two locally based firms, De La Vega Development and StreetLights Residential, have broken ground on Phase I of The Central, a 27-acre mixed-use project located at the corner of North Haskell Avenue and the North Central Expressway. The initial phase comprises a park within the center of the site, development of which will be led by De La Vega, and The Oliver, an apartment building that StreetLights will develop in partnership with Mitsui Fudosan America. Both pieces of the project are slated for December 2023 completions. Units at The Oliver will come in studio, one- and two-bedroom floor plans, and amenities will include a pool, fitness center, coworking space, resident lounge and a dog park. Additional plans for The Central ultimately call for more than 4 million square feet of office, residential and retail/restaurant space, as well as dedicated open green spaces and event areas. Steve Williamson of Transwestern arranged the land sale between De La Vega Development and Streetlights Residential.

October 28, 2022

Acquisitions Multifamily Texas

Lynd Group Acquires 344-Unit Parc 410 Apartments in San Antonio, Plans $6M Overhaul

by Taylor Williams October 28, 2022

SAN ANTONIO — Locally based investment firm The Lynd Group has acquired Parc 410, a 344-unit apartment community in San Antonio’s Leon Valley submarket. Built in 1985, the garden-style property offers one- and two-bedroom units with an average size of 716 square feet. Amenities include two pools, a clubhouse, fitness center, outdoor grilling and picnic areas, a dog park and a basketball court. As part of a $6 million capital improvement program, Lynd will install package lockers and a children’s playground, as well as upgrade unit interiors and other common areas.

October 28, 2022

Acquisitions Industrial Texas

DWG Capital Partners Sells 35,835 SF Light Industrial Facility in Columbus, Texas

by Taylor Williams October 28, 2022

COLUMBUS, TEXAS — DWG Capital Partners has sold a 35,835-square-foot light industrial facility in Columbus, located west of Houston. The investment and advisory firm acquired the asset in April 2021 via a sale-leaseback with the tenant, The Theut Co., a division of Denver Glass Interiors. Simon Miller of Endaxi Capital Partners represented DWG Capital Partners and the buyer, a private partnership based in Oregon, in the off-market transaction.

October 28, 2022

Development Florida Multifamily Southeast

Alliance Residential Acquires 12 Acres in Tampa for Waterfront Multifamily Development

by John Nelson October 28, 2022

TAMPA, FLA. — Alliance Residential Co. has acquired a 12-acre property located at 5105 W. Tyson Ave. in Tampa for $15. 8 million. Mark Eilers and Ed Miller of Colliers brokered the sale on behalf of the undisclosed seller. The Arizona-based developer plans to use the site for the development of Broadstone Westshore, a 325-unit luxury apartment community. To be developed in partnership with Santander Bank, Broadstone Westshore will comprise apartments ranging in size from 593 to 1,520 square feet, as well as a clubhouse, pool, fitness center, dog park and wash station, podcast studio, business center and media lounge. Construction is scheduled to begin within the next few weeks, with the first units expected to be ready in April 2024.

October 28, 2022

Leasing Activity Office Texas

Kimley-Horn Signs 25,767 SF Office Lease in Irving’s Las Colinas District

by Taylor Williams October 28, 2022

IRVING, TEXAS — Engineering firm Kimley-Horn has signed a 25,767-square-foot office lease at Mandalay Tower 2, a 16-story building within Irving’s Las Colinas district. Rodney Helm, Zach Bean and Chris Taylor of Cushman & Wakefield represented the landlord, Parmenter Realty Partners, in the lease negotiations. Kimley-Horn plans to move into Mandalay Tower 2, which offers a restaurant, fitness center, sundry shop and conference facilities, in May 2023.

October 28, 2022

Acquisitions Office Texas

Avison Young Brokers Sale of 19,472 SF Office Building in Metro Austin

by Taylor Williams October 28, 2022

DRIPPING SPRINGS, TEXAS — Avison Young has brokered the sale of a 19,472-square-foot office building in the western Austin suburb of Dripping Springs. Giovanni Palavicini of Avison Young represented the buyer, locally based coworking concept FUSE Workspace, in the transaction. Dan Lewis and David Alsmeyer of TIG Real Estate Solutions represented the seller, private developer Steve Herren. FUSE Workspace also plans to occupy the building and is targeting a first-quarter 2023 opening.

October 28, 2022

Development Industrial South Carolina Southeast

Treeline to Build 300,000 SF Industrial Park in Gaffney, South Carolina

by John Nelson October 28, 2022

GAFFNEY, S.C. — New York-based Treeline has acquired a 36-acre site in Gaffney, a city in South Carolina roughly equidistant between Greenville, S.C., and Charlotte. Treeline was self-represented in the transaction, in which they acquired the property from Hart Consumer Products Inc. The land will be used for the development of a 300,000-square-foot, $30 million industrial facility dubbed Victory Crossing. The project will mark Treeline’s third industrial facility in the Southeast. Choate Construction Co. will serve as general contractor for the development, with Warren Snowdon of Foundry Commercial acting as the exclusive leasing agent for the property, which will house manufacturing and warehouse/distribution tenants.

October 28, 2022

Acquisitions Affordable Housing Maryland Multifamily Southeast

OneWall Purchases Affordable Housing Community in Metro D.C. for $23M

by John Nelson October 28, 2022

SUITLAND, MD. — OneWall Communities has acquired Gateway Station — formerly Allentown Apartments — a 178-unit affordable multifamily property located in the Washington, D.C., suburb of Suitland. CBRE Affordable Housing arranged the transaction, in which RailField Realty Partners sold the property for $23 million. Built in 1963 and renovated in 2007, Gateway Station features eight buildings comprising apartments in a mix of studio, one-, two- and three-bedroom layouts. Community amenities include a swimming pool, onsite laundry facilities and a playground. The property currently operates under the Low Income Housing Tax Credit (LIHTC) program, which reserves units at various income restrictions. Connecticut-based OneWall plans to preserve Gateway Station’s affordability during its ownership.

October 28, 2022

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