Property Type

JLL Arranges $10.2M Sale of Fiserv-Leased Industrial Building in Nashville

by Julia Sanders April 14, 2022

NASHVILLE, TENN. — JLL has arranged the $10.2 million sale of a single-tenant, 51,528-square-foot industrial building in Nashville. Mitchell Townsend, Anthony Walters, Perry Wolcott, Matt Wirth and Robin Stolberg of JLL represented the seller, an affiliate of Next Realty LLC, in the transaction. Bridge Net Lease acquired the property for $10.2 million. The industrial building is triple net-leased to Fiserv, a provider of payments and financial technology solutions. Fiserv has been a tenant at the property since 2005 and uses the building to manufacture credit and payment cards. Next Realty recently executed a new long-term lease extension with Fiserv. The property offers a side-load configuration, clear heights ranging from 20 to 22 feet, three dock-high doors, one drive-in door, office space and a half-acre of land for expansion or outdoor storage. Located on 4.3 acres at 575 Brick Church Park Drive, the building is approximately five miles from downtown Nashville and 10.5 miles from Nashville International Airport.

April 14, 2022

Development Georgia Office Southeast

Simon Tops Out 365,263 SF One Phipps Plaza Office Tower in Atlanta

by Julia Sanders April 14, 2022

ATLANTA — Simon Property Group has topped out One Phipps Plaza, a 13-story, 365,263-square-foot, LEED-certified, Class A office tower in Atlanta. The project includes the redevelopment of the former Belk department store at Phipps Plaza, a mall in Atlanta’s Buckhead neighborhood. The property’s first tenant is Novelis, a provider of aluminum rolling and recycling. Novelis will lease 90,000 square feet of space at the property and will use the building as its corporate headquarters. Other tenants slated to open at Phipps Plaza include Nobu Hotel & Restaurant, Life Time athletic club and Citizens Culinary Market. The 150-room Nobu Hotel will feature a pool, conference center, spa, and a Japanese restaurant called Nobu Atlanta Restaurant. Dallas-based The Beck Group is the architect and general contractor for the project.

April 14, 2022

Development Industrial Texas

Stream Realty, Principal Real Estate to Develop 1 MSF Spec Industrial Facility Near Port Houston

by Taylor Williams April 14, 2022

BAYTOWN, TEXAS — A joint venture between Stream Realty Partners and Principal Real Estate Investors will develop Portside Logistics Center, a 1 million-square-foot speculative industrial facility that will be located near Port Houston. The Baytown project will offer proximity to the Grand Parkway, Interstate 10 and Highway 225 while also providing access to Port Houston’s two container terminals: Barbour’s Cut and Bayport. Portside Logistics Center will consist of a 760,000-square-foot cross-dock building and a 260,000-square-foot front-load building with 40- and 36-foot clear heights. Both buildings will deliver with spec office space, LED warehouse lights and fully fenced and secured truck courts. Construction is set to begin in the third quarter and to be complete in late 2023. Stream will also handle leasing of the facility.

April 14, 2022

Development Industrial Texas

Oakmont Industrial Group Breaks Ground on 639,595 SF Spec Project in Northeast San Antonio

by Taylor Williams April 14, 2022

SAN ANTONIO — Atlanta-based developer Oakmont Industrial Group has broken ground on Oakmont 410, a 639,595-square-foot speculative industrial project in San Antonio. The site fronts the Interstate 410 Access Road on the city’s northeast side. The cross-dock facility will feature 40-foot clear heights, 146 dock-high doors, an ESFR sprinkler system and parking for up to 334 trailers and 406 cars. Oakmont has tapped NAI Partners as the leasing agent. Completion is slated for December.

April 14, 2022

Development Multifamily Texas

Presidium Begins Construction on 344-Unit Multifamily Project in Metro Dallas

by Taylor Williams April 14, 2022

FARMERS BRANCH, TEXAS — Texas-based developer Presidium has begun construction on Presidium Valley View, a 344-unit multifamily project located in the northern Dallas metro of Farmers Branch. Units at Presidium Valley View will come with stainless steel appliances, quartz countertops, kitchen islands, built-in desks, private balconies, keyless entry mechanisms and individual washers and dryers. Indoors, the property will house a fitness center, clubroom area, coffee bar, theater lounge with a golf simulator and coworking spaces. Outdoor amenities will include a pool, yoga lawns, grilling areas and a pet park/spa. Dallas-based O’Brien Architects is the project architect. Phase I of the development is scheduled to be complete in late 2023.

April 14, 2022

Acquisitions Development Industrial Texas

DWG Capital Group Arranges Sale of 7.6-Acre Industrial Development Site in Bastrop, Texas

by Taylor Williams April 14, 2022

BASTROP, TEXAS — DWG Capital Group has arranged the sale of a 7.6-acre development site in Bastrop, about 30 miles east of Austin, that is zoned to support cold storage, distribution/warehousing or light retail development. The site consists of two adjacent parcels spanning 5.3 and 2.3 acres that are proximate to Tesla’s $1 billion Gigafactory. The buyer, an undisclosed Austin-based developer, plans to construct a self-storage or industrial flex building at the site with tentative plans to break ground in 2023. Judd Dunning of DWG Capital Group represented the seller, Fort Worth-based MAG Capital Partners, as well as the buyer, in the transaction.

April 14, 2022

Development Florida Multifamily Southeast

AHS Residential Opens 420-Unit Oak Enclave Apartments in Miami Gardens, Florida

by Julia Sanders April 14, 2022

MIAMI GARDENS, FLA. — AHS Residential has opened Oak Enclave, a 420-unit multifamily community in Miami Gardens. Oak Enclave offers one-, two- and three-bedroom floorplans in five buildings. Unit features includes a private balcony or patio, high ceilings, granite countertops and stainless-steel appliances. Community amenities include a resort-style pool, fitness center, clubhouse and private parking. According to Apartments.com, rents range from $1,961 to $3,636 a month. Located at 2301 N.W. 167th St., the property is 13.4 miles from downtown Miami and 12.1 miles from Miami International Airport.

April 14, 2022

Acquisitions Illinois Midwest Retail

M&J Wilkow, Bixby Bridge Capital Acquire 779,000 SF Promenade Bolingbrook in Suburban Chicago

by Kristin Harlow April 14, 2022

BOLINGBROOK, ILL. — M&J Wilkow and Bixby Bridge Capital have acquired The Promenade Bolingbrook in the Chicago suburb of Bolingbrook. The seller and sales price were undisclosed. The open-air lifestyle center spans 779,000 square feet. Some of the tenants include Macy’s, Bass Pro Shops, Binny’s Beverage Depot, Ulta and DSW. The shopping center opened in 2007. M&J Wilkow and Bixby also own Outlets of Maui in Hawaii together.

April 14, 2022

Acquisitions Michigan Midwest NAI Retail

NAI Wisinski of West Michigan Arranges Sale of 72,000 SF Shopping Center in Battle Creek

by Kristin Harlow April 14, 2022

BATTLE CREEK, MICH. — NAI Wisinski of West Michigan has arranged the sale of Minges Creek Plaza in Battle Creek for an undisclosed price. The 72,000-square-foot shopping center was fully leased at the time of sale to tenants such as Jo-Ann, Biggby Coffee, Xfinity, Supercuts, Tropical Smoothie Café, The UPS Store and LA Insurance. Jodi Milks of NAI Wisinski represented the seller, which purchased the center in 2013 following a foreclosure and made property improvements. NAI Wisinski will handle property management and leasing for the new owner.

April 14, 2022

Acquisitions Midwest Missouri Restaurant Retail

Marcus & Millichap Negotiates $3.1M Sale of Chipotle-Occupied Property in St. Louis

by Kristin Harlow April 14, 2022

ST. LOUIS — Marcus & Millichap has negotiated the sale of a Chipotle-occupied retail property in St. Louis for $3.1 million. The 2,415-square-foot building, located at 3547 Hampton Ave., features a “Chipotlane” drive-thru. Chipotle opened for business at the location in 2020. Brennan Clegg, Chris Lind and Mark Ruble of Marcus & Millichap represented the seller, a limited liability company. The buyer was not disclosed.

April 14, 2022

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