Property Type

Katz & Associates Arranges $10.6M Sale of Former HHGregg Store in Boca Raton, Florida

by John Nelson July 7, 2022

BOCA RATON, FLA. — Katz & Associates has arranged the $10.6 million sale of a former hhgregg store located at 20841 S. State Road 7 in Boca Raton. CIRE Equity, a commercial real estate investor with offices in Southern California and Phoenix, purchased the 41,250-square-foot store from an entity doing business as Pan York Glades LLC. Jon Cashion and Daniel Solomon of Katz & Associates represented the seller in the transaction. EoS Fitness, a retail fitness concept based in Phoenix, will backfill the store, which is situated adjacent to a Burlington and PetSmart.

July 7, 2022

Development Georgia Leasing Activity Mixed-Use Restaurant Retail Southeast

Lalani Ventures Inks Deal to Move Atlanta Brewing Co. to Underground Atlanta

by John Nelson July 7, 2022

ATLANTA — Lalani Ventures has signed Atlanta Brewing Co., a pioneer of the craft beer movement in the Southeast, to relocate from Atlanta’s West Midtown district to Underground Atlanta, a historic mixed-use redevelopment underway in south downtown Atlanta. The brewer was founded in 1993 with its first location off Williams Street in Midtown, before moving to its current location in 2007. The brewer will relocate again to Underground Atlanta and operate a new indoor/outdoor taproom, brewery and restaurant along Upper Alabama Street. The 8,600-square-foot location, which was once the Atlanta Visitors Center, is set to open before the end of the year and will feature a rotation of guest chefs, ping pong tables, a canning operation and roll-up garage doors. Additionally, the taproom will offer 20 beer selections and self-pouring taps throughout the space. Lalani Ventures has previously secured leases at Underground Atlanta with Fulton County’s Public Arts Future Lab, an artist residency funded by Microsoft; MARTA Artbound, MARTA’s public art program; Arts & Entertainment Atlanta; YELLE Beauty, a black woman-owned and operated beauty concept by Yandy Smith-Harris; Dancing Crepes, a new dining concept also by Smith-Harris; dolo’s pizza company, a pizza concept by Alyson Williams and Yusef Walker; and …

July 7, 2022

Acquisitions Retail Texas

JLL Negotiates Sale of 559,457 SF Glade Parks Town Center in Euless, Texas

by Taylor Williams July 7, 2022

EULESS, TEXAS — JLL has negotiated the sale of Glade Parks Town Center, a 559,457-square-foot retail power center located in the eastern Dallas suburb of Euless. Built in phases between 2014 and 2018, the property houses tenants such as Dick’s Sporting Goods, Total Wine & More, Cinepolis, Ulta Beauty, Belk, Michael’s, HomeGoods, EoS Fitness, First Watch, Hopdoddy, Daiso, Old Navy, Burlington, DSW and Massage Envy. Barry Brown, Chris Gerard, Ryan Shore, Greyson Fewin and Matthew Barge of JLL represented the seller, a joint venture led by Iron Point Partners, an investment firm with offices in Dallas and Washington, D.C., in the transaction. Charlotte-based Big V Property Group acquired the asset for an undisclosed price.

July 7, 2022

Development Midwest Minnesota Multifamily

CEDARst Completes Adaptive Reuse of Former Paper Plant in Minneapolis into 188 Apartments

by Kristin Harlow July 7, 2022

MINNEAPOLIS — CEDARst Cos. has completed the transformation of the former C.J. Duffey Paper Co. site in Minneapolis into a 188-unit apartment development named The Duffey. The adaptive reuse project converted three historic warehouses into market-rate apartment units along with 22,700 square feet of retail space and 10,300 square feet of amenity space. All three buildings are situated within the Minneapolis Warehouse Historic District, which is listed on the National Register of Historic Places. Prior to the redevelopment, the buildings had sat vacant for nearly 15 years. BKV Group provided planning and pre-development services for the project and led all engineering, architecture and landscape architecture. Amenities include a rooftop deck, fitness center, clubroom and The Crane Room, which offers coworking space, a coffee shop and concierge services. The project, which utilized state and federal historic preservation tax credits, was designed to adhere to all requirements of the Minnesota State Historic Preservation Office and National Park Service. BKV is working with CEDARst on a similar project in the area named Duffey II.

July 7, 2022

Acquisitions Arizona Multifamily Western

Northland Divests of 826-Unit Hilands Multifamily Property in Tucson for $178M

by Amy Works July 7, 2022

TUCSON, ARIZ. — Northland has completed the disposition of Hilands, an apartment community in Tucson. Bridge Investment Group acquired the asset for $178 million, or $215,496 per unit. Situated at the intersection of North Craycroft and River roads, Hilands features 826 apartments with breakfast bars, French doors, extra storage space and an average unit size of 557 square feet. Select units offer stacked and full-size washers/dryers and private patios. The 460,418-square-foot property was built in two phases in 1985 and 1986 and features 41 residential buildings, a 24-hour fitness center, an air-conditioned racquetball court and two lighted tennis courts. Hamid Panahi, Clint Wadlund, Art Wadlund, Steve Gebing and Cliff David of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the seller and procured the buyer in the deal. According to IPA, the transaction is the highest single-asset multifamily transaction in Tucson history.

July 7, 2022

Affordable Housing Development Illinois Midwest Multifamily Seniors Housing

Evergreen Breaks Ground on $30M Bellwood Senior Apartments Near Chicago

by Kristin Harlow July 7, 2022

BELLWOOD, ILL. — Evergreen Real Estate Group has broken ground on Bellwood Senior Apartments, an 80-unit affordable seniors housing community in the western Chicago suburb of Bellwood. The $30 million project will replace a former Walgreens with a four-story, 73,228-square-foot residential building. Operated by Evergreen’s in-house management team, Bellwood Senior Apartments will offer 76 one-bedroom and four two-bedroom independent living apartments for seniors age 62 or older, with incomes at or below 60 percent of the area median income. Evergreen will begin accepting applications for the apartments in spring 2023, with completion scheduled for mid-2023. Weese Langley Weese Architects designed the project, which is located near a Metra station, shops, restaurants and other businesses. FH Paschen is the general contractor. Financial partners for Bellwood Senior Apartments include the Illinois Housing Development Authority as the tax credit issuer (both low-income housing tax credits and Illinois affordable housing tax credits) and subordinate funds provider; the Village of Bellwood, which provided incentives and a loan; Bank of America, which is the investor and construction loan lender; Hudson Housing Capital, which syndicated the tax credits; and Cook County, which is providing HOME funds.

July 7, 2022

Acquisitions Illinois Industrial Midwest

Venture One Acquires Two-Building Industrial Portfolio in Mundelein, Illinois

by Kristin Harlow July 7, 2022

MUNDELEIN, ILL. — Venture One Real Estate has acquired a two-building industrial portfolio totaling 144,705 square feet in Mundelein for an undisclosed price. The portfolio is fully leased to one tenant. The first building, located at 845 High St., spans 116,892 square feet. The facility was constructed in 1996 and expanded in 2010. The facility features a clear height of 27 feet, 11 exterior docks, two drive-in doors and 4,826 square feet of office space. The second building at 262 Shaddle Ave. totals 27,813 square feet and was constructed in 2002. It features three exterior docks, one drive-in door and 1,395 square feet of office space. Brian Bocci of Entre Commercial Realty LLC represented the undisclosed seller. Venture One utilized its acquisition fund VK Industrial VI LP, which is a partnership between Venture One and Kovitz Investment Group, to execute this transaction.

July 7, 2022

Build-to-Rent Development Single-Family Rental Texas

Embrey to Develop 276-Unit Single-Family Rental Community in Fort Worth

by Taylor Williams July 7, 2022

FORT WORTH, TEXAS — San Antonio-based developer Embrey has acquired a 22.9-acre site in Fort Worth for the development of a 276-unit single-family residential community. Collection Champions Circle will feature one-, two- and three-bedroom homes, as well as a pool and a clubhouse. Construction is scheduled to begin in late July or early August and to be complete in 2024. Embrey is also the general contractor for the project and will provide onsite property management services upon completion.

July 7, 2022

Development Kansas Midwest Multifamily Seniors Housing

Tutera Completes Phase I of $6.5M Remodel of Senior Living Community Near Kansas City

by Kristin Harlow July 7, 2022

PRAIRIE VILLAGE, KAN. — Tutera Senior Living & Health Care has completed Phase I of a $6.5 million renovation of The Village at Mission in Prairie Village, a southern suburb of Kansas City. This phase upgraded 26 apartment units and first-floor common living spaces at the rental-based seniors housing property. The residences have been modernized with new lighting, furnishings, cabinetry, flooring and paint. In Phase II, Tutera will add 2,500 square feet for a therapy gym as well as 18,000 square feet for 20 private rehabilitation suites on the first floor and 14 memory care suites on the second floor. Phase II will expand the campus to 93,563 square feet for a continuum of care of assisted living, memory care, rehabilitation and extended stay all on one campus. Phase II is slated for completion in 2023. The project team includes Nearing Staats Prelogar & Jones Architects and Marian Tutera Design. Tutera acquired the property in June 2021.

July 7, 2022

Arizona Development Industrial Western

SWC Development Partners Breaks Ground on 135,896 SF Warehouse in Surprise, Arizona

by Amy Works July 7, 2022

SURPRISE, ARIZ. — SWC Development Partners has broken ground on its second building, a warehouse/distribution facility, within Skyway Business Park in Surprise. The 135,896-square-foot building will feature 32-foot clear heights, nine-foot by nine-foot dock-high doors, 12-foot by 14-foot grade-level doors, full concrete truck court and a fenced truck yard. Located at 11701 N. 132nd Ave., the property is slated for completion in second-quarter 2023. In October 2021, Avison Young’s Kevin Helland brokered the acquisition of 27.9 acres of land located within Skyway Commons on behalf of SWC Development Partners. Since the acquisition, SWC commenced construction on a 59,352-square-foot warehouse/distribution building, which is nearly complete. Additional buildings are currently going through the design review process, including two 25,000-square-foot speculative flex buildings. Helland and Mark Seale of Avison Young continue to represent the ownership on the leasing and sale of the project.

July 7, 2022

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