Property Type

LPC Southeast to Break Ground on 305,000 SF Industrial Project in Emerson, Georgia

by John Nelson August 23, 2022

EMERSON, GA. — Lincoln Property Co. Southeast (LPC Southeast) plans to break ground on LakePoint 75, a 305,000-square-foot distribution center in Emerson, a city near the north Atlanta suburb of Cartersville. The property will be situated off Joe Frank Harris Parkway, a half-mile from I-75 and 28 miles from I-285. The facility will feature 36-foot clear heights, 67 dock-high doors, 37 trailer parking spaces and 170 auto parking spaces. The complex will also include grills, outdoor activity space, communal seating and open-air meeting space. LPC Southeast plans to deliver the property in fall 2023.

August 23, 2022

Development Mixed-Use Texas

Thompson Realty, Trez Capital to Develop 50-Acre Mixed-Use Project in Flower Mound, Texas

by Taylor Williams August 23, 2022

FLOWER MOUND, TEXAS — A partnership between Thompson Realty Capital and Trez Capital will develop a 50-acre mixed-use project in the northern metroplex city of Flower Mound. The initial phase of development calls for a 200-unit apartment complex, a 60,000-square-foot office building with underground parking and 15,000 square feet of retail/restaurant space. The development will also feature 20 acres of public parks and open green space, as well as 2.5 miles of walking trails. Cross Architects, GSO Architects and Alliance Architects are respectively designing the multifamily, retail and office components. Construction is scheduled to begin this fall, and completion of Phase I is slated for early 2024.

August 23, 2022

Acquisitions Industrial Kentucky Office Southeast

MAG Capital Partners Acquires Flex Industrial Facility in Nicholasville, Kentucky in Sale-Leaseback Deal

by John Nelson August 23, 2022

NICHOLASVILLE, KY. — MAG Capital Partners has purchased a 112,400-square-foot flex industrial facility located on 40.9 acres at One Security Drive in Nicholasville, a suburb of Lexington. The Fort Worth, Texas-based firm acquired the property in a sale-leaseback deal with Los Angeles-based OpenGate Capital, parent company of the tenant, Sargent & Greenleaf. Founded in 1857, Sargent & Greenleaf is an electronic and mechanical lock manufacturer for the banking, residential, railroad and government sectors. Nick Foster of JLL’s Newport Beach, Calif., office represented MAG Capital in the transaction. The sales price was not disclosed. The property comprises 90,000 square feet of manufacturing space with 22-foot clear heights and 22,400 square feet of office space.

August 23, 2022

Development Leasing Activity Restaurant Retail South Carolina Southeast

Branch Properties Adds New Tenants at Publix-Anchored Shopping Center Underway in Metro Charleston

by John Nelson August 23, 2022

MONCKS CORNER, S.C. — Branch Properties has added new retailers and restaurants to the tenant lineup at Moncks Corner Marketplace, a Publix-anchored shopping center in the Charleston suburb of Moncks Corner. Branch Properties co-lists the 75,267-square-foot center with Hannah Kamba and Tim Rowley of Coldwell Banker Commercial Atlantic. Set to open at the corner of U.S. Highway 52 and Cypress Gardens Road later this summer, the shopping center’s 48,387-square-foot Publix store will feature a covered outdoor café on the second floor. Other tenants joining Moncks Corner Marketplace include locally owned pub Dog & Duck; pet retailer and groomer Woof Gang Bakery; family-owned taco kitchen Viva Tacos & Tequila; Japanese restaurant Kyoto Sushi & Hibachi; Chinese takeout restaurant Super Pan; locally owned beverage store EJ’s Wine & Spirits; nail salon Magic Nail; forestry insurance firm Swamp Fox Agency; Pacific Dental Services; and hair removal studio Brazilian Wax & Spa by Claudia. In addition to Moncks Corner Marketplace, Branch Properties is currently developing six other Publix-anchored centers around the Southeast.

August 23, 2022

Development Michigan Midwest Restaurant Retail

Sports & Social DraftKings to Open at Somerset Collection in Troy, Michigan

by Kristin Harlow August 23, 2022

TROY, MICH. — DraftKings Inc. and Live! Hospitality & Entertainment are opening the country’s first Sports & Social DraftKings venue at Somerset Collection in Troy this fall. Sports & Social DraftKings will offer a live sports viewing and wagering experience with a 32-foot LED media wall and gameday watch parties. Guests will be able to access DraftKings’ mobile platforms to play fantasy sports and wager on sports, including football, basketball, baseball, golf, MMA, soccer and tennis. The venue will offer a menu with a variety of gameday foods and specialty drinks. The 10,400-square-foot space will be in the standalone building adjacent to Somerset Collection South. The venue will feature a private lounge, dog-friendly outdoor patio, live music and a variety of games. ICRAVE is the project architect. Additional locations are expected to be announced in the coming months. DraftKings is a digital sports entertainment and gaming company. Sports & Social is a dining and entertainment concept developed and operated by Live! Hospitality & Entertainment, a division of The Cordish Cos. Somerset Collection is a retail destination owned by The Forbes Co. and home to 180 stores and restaurants.

August 23, 2022

Acquisitions Industrial Midwest Minnesota Self-Storage

Marcus & Millichap Arranges Sale of Self-Storage Portfolio in Minnesota

by Kristin Harlow August 23, 2022

MINNESOTA — Marcus & Millichap has arranged the sale of a 24-property self-storage portfolio in Minnesota for an undisclosed price. Nathan Coe, Gabriel Coe and Brett Hatcher of Marcus & Millichap represented the seller, KO Storage, and procured the undisclosed buyer. The portfolio spans more than 700,000 net rentable square feet.

August 23, 2022

Acquisitions Industrial Iowa Midwest

MAG Capital Partners Sells 48,237 SF Manufacturing Facility in Marion, Iowa

by Kristin Harlow August 23, 2022

MARION, IOWA — MAG Capital Partners LLC has sold a 48,237-square-foot manufacturing facility in Marion, a northwest suburb of Cedar Rapids. A private West Coast-based partnership purchased the asset for an undisclosed price. Judd Dunning of DWG Capital Group represented both the buyer and seller. The property serves as the corporate headquarters of Advanced Material Processing, which focuses on material processing equipment for the food and beverage, pharmaceutical, nutraceutical and chemical sectors. MAG Capital Partners acquired the property in a sale-leaseback transaction in October 2020.

August 23, 2022

Development Midwest Missouri Retail

IMPACT Strategies to Convert Former Bank Building into Medical Marijuana Dispensary in Missouri

by Kristin Harlow August 23, 2022

BRIDGETON, MO. — IMPACT Strategies is beginning work this month on a project to convert a former Bank of America branch building into a medical marijuana dispensary for Proper Cannabis in Bridgeton, a northwest suburb of St. Louis. The 2,500-square-foot project will include renovations to both the building’s interior and exterior. The building marks the third location that IMPACT has built for Proper Brands. The $1 million project is slated for completion in November. Proper Brands also operates locations in Crestwood, Warrenton and South County, Mo.

August 23, 2022

Acquisitions Illinois Midwest Retail

Friedman Brokers Sale of 1,500 SF Auto Retail Property in Oak Lawn, Illinois

by Kristin Harlow August 23, 2022

OAK LAWN, ILL. — Friedman Real Estate has brokered the sale of a 1,500-square-foot auto retail property located at 4819 W. 93rd St. in the Chicago suburb of Oak Lawn. The sales price was undisclosed. Torrey Lewis and Kellen Duggan of Friedman represented the undisclosed seller. N3 Property Advisors was the buyer.

August 23, 2022

Acquisitions Multifamily Texas

Disrupt Equity Buys 369-Unit Multifamily Property in Austin’s Riverside District

by Taylor Williams August 23, 2022

AUSTIN, TEXAS — Houston-based investment firm Disrupt Equity has purchased Array Apartments, a 369-unit multifamily property in Austin’s Riverside District. The property was built in 1973 and features one-, two- and three-bedroom floor plans. The amenity package comprises two pools, two dog parks, a sports court, clubhouse, outdoor grilling and dining areas and onsite laundry facilities. Disrupt Equity’s in-house team will manage the property, and the new ownership also plans to implement a value-add program. The seller and sales price were not disclosed.

August 23, 2022

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