GEORGETOWN, TEXAS — GAF Energy, a San Jose, Calif.-based provider of solar roofing products, will open a 450,000-square-foot manufacturing plant in the northern Austin suburb of Georgetown. The facility is expected to add about 260 new jobs to the local economy. According to Hello Georgetown, construction is underway and expected to be complete in summer 2023, with the plant becoming fully operational by the end of that year. The local news outlet also reports that Atlanta-based Portman Industrial is leading the development of the facility in conjunction with design-build firm ARCO/Murray. In announcing the project, GAF executives cited Georgetown’s rapid population growth as a driver of a strong labor pool, as well as the city’s track record on green energy initiatives.
NASHVILLE, TENN. — Serendipity Labs, a flexible and coworking operator based in New York, plans to open and operate customizable office suites and supporting services at L&C Tower, an office building located at 159 4th Ave. N in downtown Nashville. The firm will bring two team speculative suites on the second floor spanning 4,800 and 5,800 square feet, which can house 24 and 29 employees, respectively. Additionally, Serendipity Labs will open a traditional office space spanning 10,500 square feet on the third floor that will offer a dedicated café space, several meeting rooms and work-lounge areas that can accommodate 100-plus employees. These spaces can support entrepreneurs looking for a single office or companies and teams looking for flexible and collaborative spaces. Tenants will also be able to access L&C Tower’s existing amenities, including concierge services, a fitness center, conference facilities and a private room with a Main Distribution Frame for secure Wi-Fi connectivity. Additionally, Serendipity Labs has selected Stream Realty Partners as its exclusive brokerage partner to help lease these spaces. Multiple spaces are available with month-to-month terms for up to 24 months.
HUTTO, TEXAS — Arizona-based developer Empire Group of Cos. has acquired 30.6 acres in the northern Austin suburb of Hutto for the construction of a 276-unit build-to-rent residential project. Josh Cameron and Hal Guggolz of Land Advisors Organization brokered the $11 million sale of the land. Village at Hutto Station will offer one-, two- and three-bedroom homes with private backyards, and residential amenities will include a pool, outdoor grilling areas, fitness center, walking paths, community clubhouse and a dog park. Construction is set to begin in the first quarter of 2023.
PLANTATION, FLA. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the $22.3 million sale of Plantation Crossings, a 70,369-square-foot shopping center located in the South Florida city of Plantation. Kirk Olson and Drew Kristol of IPA, along with Barry Wolfe of Marcus & Millichap, represented the seller, an entity doing business as Plantation Crossings LLC, and procured the buyer, Azora Exan – USA, in the transaction. The property was developed in 1999 and is home to tenants including Aldi, My Salon Suite, Sherwin-Williams, Concentra Health, Fitness System and Family Eye Center.
HOUSTON — Northmarq has arranged a $4.8 million acquisition loan for an 88,000-square-foot industrial flex property in Houston’s Second Ward district. The crane-served property was originally built on 6.2 acres in 1980 and renovated in 2020. Matt Franke of Northmarq arranged the 10-year, fixed-rate loan, which carried a 25-year amortization schedule, through an undisclosed life insurance company. The name of the Houston-based borrower was also not disclosed.
DEL RIO, TEXAS — Houston-based developer Levcor has welcomed a quintet of new tenants to Plaza Del Sol, a shopping and dining destination in Del Rio, located west of San Antonio near the Texas-Mexico border. Retailers Ulta Beauty and Burlington have respectively committed to 5,789 and 36,258-square-foot spaces, and the former’s store is now officially open. Food-and-beverage users that have joined the tenant roster include McAlister’s Deli (2,882 square feet), Papa John’s (1,432 square feet) and Arby’s (2,252 square feet).
CHARLOTTE, N.C. — Equus Capital Partners Ltd. has sold The Rotunda, a four-story, 234,670-square-foot office building located in Charlotte’s SouthPark submarket. An institutional real estate investment fund manager based in Atlanta purchased the property for an undisclosed price. Ryan Clutter and Chris Lingerfelt of JLL represented the metro Philadelphia-based seller, which sold the property via its Equus Investment Partnership X LP investment vehicle. Equus purchased The Rotunda in 2017 and completed a $4.5 million renovation in 2019 that comprised upgrades to the restrooms, main building lobby, upper floor elevator lobbies, elevator cab interiors, lighting in the portico, cooling tower replacement, creating a new amenity space and activating a 4,500 square-foot outdoor patio on the building’s south side that overlooks Symphony Park. Built in 1998, The Rotunda features a two-level parking deck, conference center, outdoor seating areas, onsite property management and a restaurant, Village Tavern.
HOUSTON — SK Lubricants Americas has signed a 23,624-square-foot office lease extension at 11700 Katy Freeway, a 14-story, 325,000-square-foot building in Houston’s Energy Corridor. Kevin Poynter of Poynter Commercial Properties Corp. represented the landlord, an affiliate of ATCAP Partners, in the lease negotiations. Jason Whittington of NAI Partners represented the tenant.
NEW YORK CITY — Newmark has arranged a $260 million loan for the refinancing of 75 Rockefeller Plaza, a 627,000-square-foot office building located within Midtown Manhattan’s Plaza District. Office users at 75 Rockefeller Plaza, which was originally constructed in 1947, include WeWork and Bank of America, and American Girl anchors the ground-floor retail space. Jordan Roeschlaub, Dustin Stolly and Nick Scribani of Newmark arranged the financing through Bank of America and Carlyle Group. The borrower, RXR Realty, originally acquired the leasehold interest in the asset in 2013 and has subsequently invested $150 million in capital improvements. RXR Realty also operates its New York City headquarters out of the building.
BOSTON — Cushman & Wakefield has brokered the $107.5 million sale of Yard 5, a 196,000-square-foot industrial property in Boston’s Hyde Park neighborhood. The three-building property, which features clear heights of 28 feet and includes two undeveloped parcels totaling seven acres, was fully leased at the time of sale. Dave Pergola, Brian Doherty, Pete Rogers, Rob Byrne and Jim Murphy of Cushman & Wakefield represented the seller, First Highland Management & Development, in the transaction. Intercontinental Real Estate Corp. purchased the asset.