Property Type

Bromley, Highwoods Break Ground on 18-Story Midtown East Office Tower in Tampa

by John Nelson January 13, 2023

TAMPA, FLA. — Bromley Cos. and Highwoods Properties have broken ground on Midtown East, an 18-floor office tower located within the duo’s Midtown Tampa mixed-use development. Comprising 430,000 square feet, the project is designed by architectural firm Rule Joy Trammell + Rubio and Brasfield & Gorrie is serving as general contractor. Scheduled for completion in 2025, the tower will be the anchor building within Midtown Tampa. The development’s existing office space is currently over 98 percent leased. Bromley and Highwoods will jointly own 134,000 square feet of the finished building, with the remaining space serving as the headquarters for Tampa Electric and Peoples Gas.

January 13, 2023

Loans Maryland Multifamily Office Southeast

JLL Arranges $193M in Refinancing for Two Properties in Downtown Columbia, Maryland

by John Nelson January 13, 2023

COLUMBIA, MD. — JLL Capital Markets has arranged separate refinancings totaling $193 million for two properties located in downtown Columbia. Jamie Leachman and Drake Greer of JLL secured the financing on behalf of the borrower, The Howard Hughes Corp. An undisclosed lender provided a $76 million, three-year, fixed-rate loan for the first property, a 317,189-square-foot office building located at 6100 Merriweather Drive. JLL also arranged a $117 million, five-year, fixed-rate loan for Juniper, an apartment community built in 2020 that also features 55,693 square feet of street-level retail space. Both properties are positioned within the mixed-use Merriweather District, and both loans were used to take out existing construction financing.

January 13, 2023

Development Life Sciences North Carolina Southeast

Apollo, GeneSuites Underway on 446,000 SF Biomanufacturing Campus in Metro Raleigh

by John Nelson January 13, 2023

HOLLY SPRINGS, N.C. — Affiliates of Apollo and GeneSuites are underway on the construction of Catalyst BioCampus, a 446,000-square-foot biomanufacturing development in Holly Springs, roughly 20 miles southwest of Raleigh. The development, which is scheduled for completion early this year, will be pre-equipped with mechanical, electrical and building infrastructure designed in accordance with Current Good Manufacturing Practice (cGMP) specific to biomanufacturing facilities. This design, branded High Performance Shell by GeneSuites, will support the acceleration of speed-to-market for biopharmaceutical companies by approximately nine to 15 months, according to CBRE|Raleigh. Lee Cllyburn John Hogan III of CBRE|Raleigh are handling leasing at the development.

January 13, 2023

Development Multifamily Texas

LV Collective to Develop 48-Story Multifamily Tower in Austin’s Rainey Street District

by Taylor Williams January 13, 2023

AUSTIN, TEXAS — Locally based developer LV Collective will construct a 48-story multifamily tower in Austin’s Rainey Street District that will be known as Paseo. Paseo will offer 557 units in one-, two- and three-bedroom formats, with residential amenities across multiple floors and several food-and-beverage concepts on the ground floor. Approximately 20 percent of the residences will be reserved as affordable housing. JE Dunn Construction is the general contractor for the project, and Pappageorge Haymes Partners is the architect. UMB Bank is providing construction financing. Construction is scheduled to begin in the first quarter and to be complete in late 2025.

January 13, 2023

Development Florida Self-Storage Southeast

U-Haul Delivers 800-Unit Self-Storage Facility in Florida Panhandle

by John Nelson January 13, 2023

FORT WALTON BEACH, FLA. — U-Haul has completed the development of a new, 800-unit self-storage facility in Fort Walton Beach dubbed U-Haul Moving & Storage of the Emerald Coast. Located at 200 Irwin Ave., the facility comprises 138,000 square feet. U-Haul acquired the property, which was originally constructed in 1971 and formerly housed a J.M. Fields department store and Kmart, in 2019. The acquisition and adaptive reuse of the site aligns with U-Haul’s corporate sustainability initiatives, and the company worked with the Audubon Society to maintain a bird-friendly rooftop for the threatened Least Turn and Black Skimmer species.

January 13, 2023

Acquisitions Office Texas

CDC Houston Acquires Two Office Buildings Totaling 476,300 SF in North Houston

by Taylor Williams January 13, 2023

HOUSTON — CDC Houston, a division of Coventry Development Corp., has acquired 100 percent interests in two office buildings totaling 476,300 square feet in North Houston that the company developed in a joint venture with Patrinely Group and USAA Real Estate. Built in 2019, City Place 1 totals 149,500 square feet and is leased to tenants such as Arroyo Energy Investors and Focus Optical. Completed in 2018, City Place 2 spans 326,800 square feet and serves as the headquarters of the American Bureau of Shipping. The firm acquired the assets in conjunction with a purchase of majority stakes in two Marriott-branded hotels that are located within the City Place master-planned development.

January 13, 2023

Acquisitions Industrial Texas

Marcus & Millichap Negotiates Sale of 440-Unit Self-Storage Facility in Denton

by Taylor Williams January 13, 2023

DENTON, TEXAS — Marcus & Millichap has negotiated the sale of Stuff Hotel, a 440-unit self-storage facility located in the North Texas city of Denton. The property was built in 1985 and spans 56,310 square feet of net rentable of space. Brandon Karr, Danny Cunningham and Jon Danklefs of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Danklefs also procured the buyer, another limited liability company. Both parties requested anonymity.

January 13, 2023

Acquisitions Industrial Texas

Lake Washington Partners Buys 418,000 SF Industrial Facility in South Dallas

by Taylor Williams January 13, 2023

DALLAS — Seattle-based investment firm Lake Washington Partners has purchased Tradepoint 20/45, a 418,000-square-foot industrial facility in South Dallas. Built in 2022, the property features 36-foot clear heights, 78 dock doors, two ramps, 124 car parking spaces and 107 trailer stalls. Dustin Volz, Stephen Bailey, Adam Citron, Dom Espinosa and Zach Riebe of JLL represented the seller, a partnership between Blumenfeld Development Group and Declaration Partners, in the transaction.

January 13, 2023

Acquisitions Multifamily Texas

Coldwell Banker Brokers Sale of 100-Unit Apartment Complex in Lubbock

by Taylor Williams January 13, 2023

LUBBOCK, TEXAS — Coldwell Banker Commercial Capital Advisors has brokered the sale of San Remy Apartments, a 100-unit complex in the West Texas city of Lubbock. The five-building complex was built on 3.5 acres in 1973 and was 96 percent occupied at the time of sale. Chase Tucker and Taylor Tucker of Coldwell Banker represented the seller, a limited liability company, in the transaction. A private investment group purchased the asset for an undisclosed price.

January 13, 2023

Industrial Loans New York Northeast Walker & Dunlop

Walker & Dunlop Arranges $100M Refinancing of Industrial Property Leased to Amazon in Queens

by Taylor Williams January 13, 2023

NEW YORK CITY — Walker & Dunlop has arranged a $100 million loan for the refinancing of JFK Logistics Center, a 423,000-square-foot industrial property in Queens that is fully leased to Amazon. The multi-story facility sits on 10.7 acres and features a clear height of 36 feet, 16 loading positions and two floors of parking. Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz and Mo Beler arranged the debt on behalf of the borrower, a partnership between Wildflower Ltd. and Amstar. J.P. Morgan Investment Management provided the loan.

January 13, 2023

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