Property Type

Miller United Real Estate Sells 8,511 SF Shops on Montview in Denver’s Central Park District

by Amy Works November 18, 2022

DENVER — Miller United Real Estate has completed the disposition of The Shops on Montview, a retail center located at 8801 E. Montview Blvd. in Denver’s Central Park neighborhood. Terms of the transaction were not released. Built in 2020, The Shops on Montview features 8,511 square feet of retail space. At the time of sale, the property was fully occupied by four tenants, I Heart Mac & Cheese, Pizza Hut, Smile Studio Dental and Starbucks Coffee. Jason Schmidt of JLL Retail Capital Markets Investment Sales and Advisory led the team that represented the seller in the transaction.

November 18, 2022

California Loans Multifamily Western

JLL Arranges $10.7M Refinancing for Chateau Spring Terrace Apartments in La Mesa, California

by Amy Works November 18, 2022

LA MESA, CALIF. — JLL Capital Markets has arranged a $10.7 million loan for the refinancing of Chateau Spring Terrace, an apartment community located at 4242 Spring St. in La Mesa. The borrower is Universe Holdings. Built in 1969, Chateau Spring Terrace features 56 one-, two- and three-bedroom residences with patios and balconies, efficient appliances, large closets and hardwood floors. Community amenities include a fitness center, laundry facility and pool, as well as on-site maintenance and management. Charles Halladay, Jonah Aelyon, Jolie Zhou and Elle Miraglia of JLL Capital Markets Debt Advisory secured the 10-year, fixed-rate loan through Mechanics Bank for the borrower.

November 18, 2022

Acquisitions Colorado Retail Western

NAI Shames Makovsky Negotiates $4.2M Sale of Retail Building in Denver

by Amy Works November 18, 2022

DENVER, COLO. — NAI Shames Makovsky has brokered the sale of a retail property located in Denver. Benjamin Weinstein acquired the asset from MDK Larimer for $4.2 million. Located at 2124-2134 Larimer St., the property features 7,200 square feet of retail space. Todd Snyder of NAI Shames Makovsky represented the seller in transaction.

November 18, 2022

Acquisitions Loans Multifamily Texas

Buchanan Street Partners Buys 354-Unit Apartment Community in McKinney, Texas

by Taylor Williams November 18, 2022

MCKINNEY, TEXAS — Southern California-based investment firm Buchanan Street Partners has purchased Jefferson Terrace, a 354-unit apartment community located north of Dallas in McKinney. The unit mix comprises 209 one-bedroom residences, 115 two-bedroom apartments and 30 three-bedroom units. Amenities include a pool, fitness center with yoga and spin studios, clubhouse and resident lounge, game room, dog park, putting green and outdoor grilling and dining areas. Locally based firm JPI developed and sold Jefferson Terrace, which was 94 percent occupied at the time of sale. Tom Kenny of Bellwether Enterprise Real Estate Capital arranged a $56 million acquisition loan through an undisclosed life insurance company on behalf of Buchanan Street Partners.

November 18, 2022

Development Industrial South Carolina Southeast

NorthPoint Breaks Ground on 3.3 MSF Industrial Park in Spartanburg, South Carolina

by John Nelson November 18, 2022

SPARTANBURG, S.C. — Kansas City-based NorthPoint Development has broken ground on the first phase of Spartan Enterprise Park, a 310-acre industrial park in Spartanburg that will span nearly 3.3 million square feet upon completion. Phase I comprises two buildings spanning more than 1.3 million square feet, and future phases can accommodate an additional 1.9 million square feet of space. The Colliers team of Garrett Scott, Brockton Hall and Dillon Swayngim helped facilitate the land purchase and will handle all leasing for the park on behalf of NorthPoint. Preleasing for Building One and Building Two is underway, and completion is expected for fourth-quarter 2023. Spartan Enterprise Park is located at 2116 U.S. Highway 221/Chesnee Highway, which is less than one mile from I-85, four miles from downtown Spartanburg and approximately 20 miles from Inland Port Greer, Greenville-Spartanburg International Airport and BMW’s regional manufacturing plant.

November 18, 2022

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Arranges Sale of 236-Unit Self-Storage Facility in Northwest Houston

by Taylor Williams November 18, 2022

HOUSTON — Marcus & Millichap has arranged the sale of Easy Self Storage, a 236-unit facility located along State Highway 249 in northwest Houston. The five-building property was built in 1984 and spans 29,716 net rentable square feet across 172 non-climate-controlled units and 64 climate-controlled units. Dave Knobler of Marcus & Millichap represented the seller, a private investor, and procured the buyer, a limited liability company, in the transaction. Both parties requested anonymity.

November 18, 2022

Acquisitions Multifamily North Carolina Southeast

JLL Negotiates $91M Sale of Apartment Community in Charlotte’s NoDa District

by John Nelson November 18, 2022

CHARLOTTE, N.C. — JLL Capital Markets has brokered the sale of Abberly NoDa Vista, a 261-unit apartment community located in the NoDa neighborhood of Charlotte. Matthew Lawton, John Gavigan, John Mikels and Nick Brown of JLL represented the buyer, HHHunt, in the $91 million transaction. Travis Anderson and Warren Johnson of JLL aarranged a $60.3 million, floating-rate acquisition loan on behalf of the buyer. Constructed in 2019, Abberly NoDa Vista features apartments in studio, one-, two- and three-bedroom layouts with an average size of 892 square feet. Amenities include a barbecue grill and picnic area, a community gas grill, electric vehicle charging stations, private balconies and patios, a resort-style pool, sun deck and a gym.

November 18, 2022

Georgia Industrial Leasing Activity Southeast

Cushman & Wakefield Secures 1 MSF Industrial Lease in Locust Grove, Georgia

by John Nelson November 18, 2022

LOCUST GROVE, GA. — Cushman & Wakefield has arranged a 1 million-square-foot lease for an undisclosed transport and logistics company at Gardner Logistics Park, a three-phase industrial project in Locust Grove, approximately 40 miles southeast of Atlanta. James Phillpott, Helen Cauthen, Lisa Pittman and Ray Stache of Cushman & Wakefield represented the landlord, Scannell Properties, for the lease deal. The tenant will occupy most of Building 1, which totals more than 1.4 million square feet and is scheduled for completion in late 2023. Building 1 is the final building to be constructed at the project, for which Cushman & Wakefield is overseeing all leasing efforts.

November 18, 2022

Acquisitions Multifamily North Carolina Southeast

Northmarq Brokers Sale of 352-Unit Apartment Community in Charlotte

by John Nelson November 18, 2022

CHARLOTTE, N.C. — Northmarq has arranged the sale of Tapestry University City, a 352-unit multifamily community located on 17 acres at 5340 Periwinkle Hill Ave. in Charlotte. The community features apartment homes in one-, two- and three-bedroom layouts. Amenities include a dog park, pet washing station, pool deck, clubroom, cyber café, fitness center, electric vehicle charging stations, a yoga and spin studio, grilling station and bike racks. Andrea Howard, John Currin, Allan Lynch, Caylor Mark and Jeff Glenn of Northmarq represented the sellers, Arlington Properties and Glenmont Capital Management, in the transaction. Faron Thompson, David Vinson and Grant Harris of Northmarq originated a fixed-rate Fannie Mae acquisition loan. The buyer, sales price and loan amount were not disclosed.

November 18, 2022

Leasing Activity Office Texas

Spectrum Signs Office Lease Renewal, Expansion in San Antonio

by Taylor Williams November 18, 2022

SAN ANTONIO — Global telecommunications provider Spectrum has signed an office lease renewal and expansion at Crosswinds Business Park in northeast San Antonio. The tenant is taking an additional 19,808 square feet of space at Building B, which brings that structure to full occupancy. Charlie Weil and Luis Garza of Transwestern represented the landlord, Briar Meads Capital, in the lease negotiations. CBRE represented Spectrum.

November 18, 2022

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