Property Type

Feldman Ruel Arranges $5M Sale of Mixed-Use Property in Metro D.C.

by John Nelson October 21, 2022

ALEXANDRIA, VA. — Feldman Ruel Urban Property Advisors has facilitated the sale of 901-905 King Street, a four-level mixed-use property located in Alexandria’s Old Town district. The property, which is occupied by White House Black Market at the street level, sold for $5 million. Tanner Scales, Josh Feldman and Ian Ruel of Feldman Ruel marketed 901-905 King Street on behalf of the seller, an entity doing business as A & H LLC. Windmill Hill Homes acquired the property and has plans to convert its vacant office space into 14 residential units. Retail space at the building will remain as-is.

October 21, 2022

Acquisitions Multifamily Texas

Odyssey Properties Buys Three Metro Dallas Multifamily Communities Totaling 578 Units

by Taylor Williams October 21, 2022

ARLINGTON AND GRAND PRAIRIE, TEXAS — Los Angeles-based investment firm Odyssey Properties Group has purchased three metro Dallas multifamily properties totaling 578 units. Huntington Meadows and The Dalton are located adjacent to one another in Arlington, were built in 1984 and respectively total 250 and 68 units in one- and two-bedroom formats. Combined amenities include a fitness center, three pools, outdoor grilling and dining areas, a tennis court, pet park and a business center. The Belmont in Grand Prairie totals 260 units, also with one- and two-bedroom floor plans, and was built in 1983. The new ownership plans to implement a value-add program across all three properties.

October 21, 2022

Acquisitions Industrial Texas

Titan Development Sells 294,297 SF Industrial Facility in Metro Austin

by Taylor Williams October 21, 2022

GEORGETOWN, TEXAS — Titan Development has sold Gateway 35 Commerce Center Building 1, a 294,297-square-foot industrial facility located in the northern Austin suburb of Georgetown. Built on 21 acres in 2022, the cross-dock building was fully leased to California-based electronics manufacturer CelLink Corp. at the time of sale. Building features include 36-foot clear heights, 185-foot truck court depths, 220 car parking spaces and 94 trailer parking stalls. Trent Agnew, Dustin Volz, Dom Espinosa, Josh Villarreal and Megan Babovec of JLL represented Titan Development in the transaction. The buyer and sales price were not disclosed.

October 21, 2022

Development Multifamily Texas

StreetLights Residential Breaks Ground on 276-Unit Multifamily Project in Austin

by Taylor Williams October 21, 2022

AUSTIN, TEXAS — Dallas-based developer StreetLights Residential has broken ground on The Maris, a 276-unit multifamily project in Austin’s Lakeline neighborhood that represents Phase IV of the Presidio development. Phase I, The Michael, and Phase II, The Elizabeth, were completed in 2016 and 2019, respectively. Phase III, The Asher, is scheduled to open before the end of the year. The Maris will feature studio, one-, two- and three-bedroom floor plans ranging in size from 517 to 1,684 square feet. Amenities will include a pool, fitness center, coworking spaces and a game room. SLR Construction is the general contractor for The Maris.

October 21, 2022

Acquisitions Multifamily Texas

Magma Equities Acquires 240-Unit Apartment Complex in Roanoke, Texas

by Taylor Williams October 21, 2022

ROANOKE, TEXAS — Southern California-based investment firm Magma Equities has acquired Lost Spurs Ranch, a 240-unit apartment complex located north of Fort Worth in Roanoke. Built in 2001, the property comprises 12 three-story buildings that house one-, two- and three-bedroom units on a 13.5-acre site. The amenity package comprises a pool, fitness center, basketball court, playground and a media room. Magma Equities, which acquired the asset in a joint venture with Walker & Dunlop Investment Partners as part of a larger off-market portfolio deal, plans to upgrade the unit interiors and building exteriors. Moody National Cos. sold the property for an unspecified price. Lost Spurs Ranch, which was acquired in conjunction with the 580-unit Village at Bellaire in Houston, was 99 percent occupied at the time of sale.

October 21, 2022

Leasing Activity Office Texas

Canyon Partners Signs Office Lease Renewal in Dallas’ Harwood District

by Taylor Williams October 21, 2022

DALLAS — Investment management firm Canyon Partners has signed an office lease renewal within the Harwood District, a development that spans 19 city blocks in Uptown Dallas. The square footage of the lease was not disclosed. The tenant will continue to occupy the second floor of Harwood No. 2, which was originally built in 1996 and is now fully leased. Andy Leatherman of JLL represented Canyon Partners in the lease negotiations. Hannah Mesh and Kelly Whaley represented the landlord, Harwood International, on an internal basis.

October 21, 2022

Development Massachusetts Mixed-Use Northeast

King Street Properties Breaks Ground on $915M Allston LabWorks Project in Boston

by Taylor Williams October 21, 2022

BOSTON — King Street Properties has broken ground on Allston LabWorks, a $915 million mixed-use project located near Boston University. The 4.3-acre site at 305 Western Ave. will house a 580,905-square-foot complex with life sciences, multifamily and retail uses. Specifically, Allston LabWorks will comprise 534,000 square feet of life sciences space, 20,000 square feet of retail space and 35 multifamily units, a quarter of which will be reserved as affordable housing. Lastly, the development will feature a 12,000-square-foot public plaza and event space. King Street Properties is developing the project in a joint venture with Brookfield and Mugar Enterprises, with DiMella Shaffer and Consigli Construction Co. respectively serving as the architect and general contractor. The facilities are expected to be available for occupancy by late 2024.

October 21, 2022

Development Industrial Massachusetts Northeast

LPC, Stockbridge Begin Work on 176,800 SF Spec Industrial Project in Wrentham, Massachusetts

by Taylor Williams October 21, 2022

WRENTHAM, MASS. — A partnership between Dallas-based Lincoln Property Co. and San Francisco-based private equity firm Stockbridge has begun construction on a 176,800-square-foot speculative industrial project in Wrentham, about 40 miles southwest of Boston. The site spans 34.5 acres and is located one mile from I-495. Building features will include a clear height of 32 feet, 35 dock doors, 130-foot truck court depths, 113 car parking spaces and 33 trailer parking stalls. ARCO National Construction Co. is the general contractor for the project, completion of which is slated for late 2023.

October 21, 2022

Acquisitions Multifamily New Jersey Northeast

Kislak Negotiates $18.3M Sale of Apartment Complex in Vineland, New Jersey

by Taylor Williams October 21, 2022

VINELAND, N.J. — Locally based brokerage firm The Kislak Co. Inc. has negotiated the $18.3 million sale of Spring Gardens, a 130-unit apartment complex located in the Northern New Jersey community of Vineland. The property was built on 13.4 acres in 1974 and houses 64 one-bedroom units and 66 two-bedroom residences across 16 buildings. Joni Sweetwood of Kislak represented the buyer and seller, both of which requested anonymity, in the transaction.

October 21, 2022

Acquisitions Industrial New Jersey Northeast

Cushman & Wakefield Arranges $7.2M Sale of Industrial Building in Denville, New Jersey

by Taylor Williams October 21, 2022

DENVILLE, N.J. — Cushman & Wakefield has arranged the $7.2 million sale of a 42,000-square-foot industrial building located in the Northern New Jersey community of Denville. The property sits on 3.4 acres, features a clear height of 18 feet and is currently leased to three tenants. Andrew Schwartz, Jordan Sobel and Andre Balthazard of Cushman & Wakefield represented the seller and procured the buyer, both of which requested anonymity, in the transaction.

October 21, 2022

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