Property Type

Gray Television Inks Deal with NBCUniversal for 43-Acre Studio Campus in Metro Atlanta

by John Nelson June 7, 2022

DORAVILLE, GA. — Gray Television Inc. has entered into an operations agreement with NBCUniversal Media LLC to lease and operate a new studio campus spanning 43 acres in metro Atlanta. The Assembly Studios facilities will be situated within Gray’s Assembly Atlanta project, a 135-acre mixed-use development in Doraville that once housed GM’s Assembly plant. NBCUniversal’s lease with Gray will include a suite of facilities needed to support TV and film production. The new facilities will include multiple soundstages, production office space, warehouses and mill space, as well as parking and other necessary amenities. Adjacent to the Assembly Studios complex is Third Rail Studios, a movie and TV production facility spanning seven acres that opened in 2016 and that Gray acquired in September 2021. NBCUniversal will manage all studios onsite, including Gray’s own studio facilities and Third Rail Studios. Construction began on roadways and infrastructure throughout Assembly Studios last summer, and construction began on studio buildings for Gray’s Swirl Films late last year. Construction on NBCUniversal’s facilities is expected to begin this summer. At that time, Gray expects over 1,200 individuals will be employed in construction jobs onsite and that the Assembly Studios complex will be completed in the second half …

June 7, 2022

Acquisitions Florida Multifamily Southeast

Trion Properties Acquires Art 88 Apartments in Miami for $87.3M

by John Nelson June 7, 2022

MIAMI — Trion Properties, a private equity investment firm with offices in West Hollywood and Miami, has purchased Art 88 Apartments in Miami for $87.3 million. The seller was not disclosed, but South Florida Business Journal reports that Grand Peak Properties was the previous owner. Built in 1971 within one mile of Miami International Airport, Art 88 comprises 294 one- and two-bedroom apartments averaging 787 square feet. The community is configured in eight two- to five-story elevator buildings and features two pools, a fitness center, laundry facilities and a dog park. Maurice Habif, Simon Banke and Ted Turner of JLL brokered the transaction, and Jesse Wright with JLL arranged acquisition financing. Art 88 was 97 percent occupied at the time of sale, and the new ownership plans to make capital improvements to the property in the near future.

June 7, 2022

Acquisitions North Carolina Office Southeast

CBRE Investment Management Purchases The Line Office Tower in Charlotte’s South End

by John Nelson June 7, 2022

CHARLOTTE, N.C. — A fund sponsored by CBRE Investment Management has purchased The Line, a newly built, 16-story office tower in Charlotte’s South End district. The 314,221-square-foot property is located at 2151 Hawkins St. and features shared workspaces, sky lobby, amenity terrace, open-air plaza, lawn, outdoor decks, bike rooms, lockers, showers, covered parking and 24,000 square feet of retail space. The CBRE Strategic Partners U.S. Value 9 fund acquired The Line in a joint venture with Atlanta-based Portman Holdings, which co-developed the property with Washington, D.C.-based National Real Estate Advisors LLC. Mike McDonald and Jonathan Napper of Cushman & Wakefield represented the seller in the transaction. The sales price was not disclosed.

June 7, 2022

Acquisitions Southeast Student Housing Virginia

TSB Realty Arranges Sale of 909-Bed Student Housing Property Near Old Dominion in Norfolk

by John Nelson June 7, 2022

NORFOLK, VA. — TSB Realty has arranged the sale of The Next at ODU, a 909-bed student housing property located near Old Dominion University in Norfolk. The Michaels Organization sold the community to Saxum Real Estate for an undisclosed price. Delivered in 2010, the property offers shared amenities including a resort-style swimming pool and spa, 24-hour fitness center, tanning, a clubroom, business center and shuttle service to campus. Units offer bed-to-bath parity alongside features including modern appliances and washers and dryers.

June 7, 2022

Acquisitions Retail South Carolina Southeast

IPA Brokers $18.2M Sale of Port Royal Plaza Shopping Center in Hilton Head, South Carolina

by John Nelson June 7, 2022

HILTON HEAD, S.C. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $18.2 million sale of Port Royal Plaza, a 90,860-square-foot shopping center in Hilton Head. The property’s anchor tenants include Planet Fitness and AutoZone. The seller, an entity doing business as GFB Associates LLC, sold the center to Ronicks LLC, a private investor based in Tennessee. Zach Taylor of IPA brokered the transaction. “Port Royal Plaza is a landmark center on the north end of Hilton Head Island,” says Taylor. “The real estate is irreplaceable. We saw strong demand for this center and closed right at our guidance.”

June 7, 2022

Acquisitions Multifamily Texas

GREA Arranges Sale of Four Multifamily Assets Totaling 851 Units in Dallas-Fort Worth

by Taylor Williams June 7, 2022

DALLAS — Global Real Estate Advisors (GREA) has arranged the sale of four multifamily assets totaling 851 units that are located throughout the Dallas-Fort Worth metroplex. The properties include Villa Placita in Garland (122 units); Antigua Village in Fort Worth (152 units); WaterWalk Las Colinas in Irving (153 units); and The Club at Fossil Creek in Fort Worth (424 units). Mark Allen and Zac Thomas of GREA brokered the deals. The sellers were not disclosed.

June 7, 2022

Development Office Texas

Mapletree Underway on Renovation of 215,394 SF Office Building in Metro Dallas

by Taylor Williams June 7, 2022

RICHARDSON, TEXAS — Mapletree, a global real estate developer based in Singapore, is underway on the renovation of a 215,394-square-foot office building located within the Galatyn Commons complex in the northern Dallas suburb of Richardson. Galatyn Commons comprises four buildings totaling 800,000 square feet. Amenities include a food hall with 300-seat dining area, coffee shop and grab-and-go food service, as well as a 10,000-square-foot fitness and wellness center, an outdoor kitchen with grill stations, bocce ball courts and an outdoor amphitheater with 1,000-seat capacity. Cushman & Wakefield is marketing the five-story building for lease. Renovations are expected to be complete next summer.

June 7, 2022

Acquisitions Multifamily Texas

TMG Negotiates Sale of 136-Unit Multifamily Property in Northwest Houston

by Taylor Williams June 7, 2022

HOUSTON — Dallas-based brokerage firm The Multifamily Group (TMG) has negotiated the sale of Pebble Creek Apartments, a 136-unit property in northwest Houston. Built on 6.5 acres in 1980, the property offers one- and two-bedroom units with an average size of 865 square feet. According to Apartments.com, amenities include a pool, playground and onsite laundry facilities. Chris Siemasko of TMG represented the seller, and Nasir Pooran of TMG procured the private California-based buyer. Both parties requested anonymity. Pebble Creek was 97 percent occupied at the time of sale.

June 7, 2022

Development Industrial Texas

KDW to Develop 130,000 SF Manufacturing Facility in Metro Houston

by Taylor Williams June 7, 2022

WALLER, TEXAS — Locally based firm KDW will develop a 130,000-square-foot manufacturing facility in the northwestern Houston suburb of Waller that will be an expansion of the existing campus of Green Span Profiles, a provider of insulated wall panels. The crane-served facility will be situated on 33 acres and is expected to come on line in January. The company’s original 70,000-square-foot plant opened in 2011. Green Span Profiles expects to hire about 15 new employees to staff the facility.

June 7, 2022

Acquisitions Healthcare Texas

Nutex Health Acquires 55,755 SF Hospital in North San Antonio

by Taylor Williams June 7, 2022

SAN ANTONIO — Nutex Health, a Houston-based provider that owns and operators 21 facilities across eight states, has acquired a 55,755-square-foot facility in north San Antonio. According to LoopNet Inc., the 65-bed facility was built on 4.1 acres in 1971. Zach Leger of NAI Partners represented Nutex Health in the transaction. Chad Gunter of Transwestern represented the seller.

June 7, 2022

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