Property Type

SRS Brokers $3.1M Sale of Maverick-Occupied Gas Station/Convenience Store in Salt Lake City

by Amy Works September 20, 2021

SALT LAKE CITY — SRS Real Estate Partners has arranged the sale of a gas station and convenience store property located at 2680 S. 2000 E in Salt Lake City. A Texas-based private investor and developer sold the asset to a Utah-based private independent petroleum marketer for $3.1 million. Maverick, an independent fuel marketer, occupies the 3,024-square-foot property. Built in 1983 and renovated in 2018, the property features an eight-pump gas station and high-volume convenience store. Jack Cornell, Matthew Mousavi and Patrick Luther of SRS Real Estate Partners’ National Net Lease Group represented the seller in the deal.

September 20, 2021

Development Mixed-Use Texas

Crescent Real Estate Breaks Ground on $250M Mixed-Use Project in Fort Worth

by Taylor Williams September 20, 2021

FORT WORTH, TEXAS — Locally based developer Crescent Real Estate has broken ground on a new mixed-use project in Fort Worth’s Cultural District that is valued at $250 million, according to The Dallas Morning News. Current plans for the project, which was announced in February, call for 175 residential units, a 200-room boutique hotel and a 160,000-square-foot office building that will house the headquarters of tenants such as Goff Capital, Canyon Ranch and Contango Oil & Gas. Crescent Real Estate also plans to move its headquarters into the new office building. Construction is scheduled to be complete in mid-2023.

September 20, 2021

Development Mixed-Use Texas

Century Pacific, Valor Club USA Open Office in San Antonio

by Taylor Williams September 20, 2021

SAN ANTONIO — Valor Club USA, an organization dedicated to helping veterans and servicemen and women transition from military to civilian life, has opened an office in San Antonio. The group’s president, Michael McDowell, is overseeing construction of a 200-acre campus with recreational facilities, residential units, a hotel and commercial and retail space. In addition, the development will feature veteran support services and an entertainment district anchored by an indoor/outdoor performance and training center. Gensler designed the project.

September 20, 2021

Acquisitions Industrial Texas

CBRE Negotiates Sale of 387,838 SF Harris Ridge Business Center in North Austin

by Taylor Williams September 20, 2021

AUSTIN, TEXAS — CBRE has negotiated the sale of Harris Ridge Business Center, a 387,838-square-foot industrial park in North Austin. Harris Ridge consists of five buildings that were constructed in phases between 2008 and 2021. The park was fully leased at the time of sale to a roster of 11 tenants with an average suite size of 32,392 square feet. Boston-based TA Realty purchased the property from Austin-based HPI Real Estate Services for an undisclosed price. Randy Baird, Jonathan Bryan, Ryan Thornton and Eliza Bachhuber of CBRE brokered the deal on behalf of HPI.

September 20, 2021

Acquisitions Multifamily Texas

Nicholas Residential, Hughes Capital Buy 473-Unit Apartment Community in Dallas

by Taylor Williams September 20, 2021

DALLAS — A fund backed by Dallas-based Nicholas Residential and Hughes Capital Partners have purchased Bellevue at The Bluffs, a 473-unit apartment community located in the Bluffview neighborhood of Dallas. Built in 2019 and formerly known as Aura Bluffview, the property features one-, two- and three-bedroom floor plans and amenities such as a pool, fitness center, resident clubhouse, business center and a lounge. Paul Harris, Eric Calub, Thad Wetterau and Gregory Smith of Berkadia represented the seller, Texas-based Trinsic Residential Group, in the transaction.

September 20, 2021

Acquisitions Multifamily Seniors Housing Texas

Livingston Street Capital Acquires 402-Unit Active Adult Portfolio in North Texas

by Taylor Williams September 20, 2021

FORT WORTH AND DENTON, TEXAS — An affiliate of Livingston Street Capital has acquired a portfolio of two active adult communities totaling 402 units in North Texas. The properties include a 162-unit community in Fort Worth, which the firm has rebranded as The Spring at Silverton, and a 240-unit community in Denton, which the firm has rebranded as Sunstone Village. These assets bring Livingston’s active adult and independent living portfolio to nearly 600 units in the Dallas-Fort Worth market and more than 1,500 units nationally.

September 20, 2021

Development Industrial North Carolina Southeast

Frampton Construction Breaks Ground on 204,000 SF Industrial Building in Knightdale, North Carolina

by Julia Sanders September 20, 2021

KNIGHTDALE, N.C. — Frampton Construction Co. LLC has broken ground on the final building within Eastgate 540, an industrial park in the Raleigh suburb of Knightdale. The facility is the seventh building in the park and the fourth built by Frampton. Eastgate 540’s final building will be a 204,000-square-foot industrial facility with features including 32-foot clear heights, 50 dock doors and two drive-in doors. The property will feature concrete tilt walls and a structural steel frame. Eastgate 540 is located beside Interstate 540 in Raleigh’s East Wake submarket and totals 1.2 million square feet. The developer, Trinity Capital Advisors, has sold three buildings at Eastgate 540, and there are agreements in place for the disposition of the four remaining buildings once construction and delivery near completion. Merriman Schmitt Architects completed the design for the buildings, and Advanced Civil Design Inc. provided civil engineering services. Construction for the final building is expected to finish in May 2022.

September 20, 2021

Acquisitions Industrial New Jersey Northeast

Cushman & Wakefield Brokers Sale of Two New Jersey Industrial Buildings Totaling 204,000 SF

by Taylor Williams September 20, 2021

BRIDGEWATER, N.J. — Cushman & Wakefield has brokered the sale of two industrial buildings totaling 204,000 square feet that are located in the Northern New Jersey community of Bridgewater. Both buildings feature cross-dock configurations and clear heights of 23 feet and were fully leased at the time of sale. A Cushman & Wakefield team of Gary Gabriel, David Bernhaut, Kyle Schmidt and Seth Zuidema represented the seller, Camber Real Estate Partners, and procured the buyer, High Street Logistics Properties, in the transaction. The sales price was not disclosed.

September 20, 2021

Acquisitions Florida Office Southeast

JLL Arranges $37.3M Sale of Medical Office Property in South Florida

by Julia Sanders September 20, 2021

BOYNTON BEACH, FLA. — JLL has arranged the sale of 3301 Quantum, a 100,000-square-foot medical office property in Boynton Beach. Apex Capital purchased the property for $37.3 million. Hermen Rodriguez, Matthew McCormack, Ike Ojala and Max Lescano of JLL represented the seller, a partnership between Fox Ridge Capital LLC and developer/investors Joshua Schrager and Daniel Schwartz, in the transaction. 3301 Quantum is a two-story office building that was recently renovated in 2021. Improvements made by the previous ownership included elevators, HVAC systems, restrooms, common areas and roofing. The property is a single-tenant, triple-net leased property fully leased to NYU Grossman School of Medicine, which operates a division of the NYU Langone Health System onsite. The facility will soon house approximately 900 employees who facilitate the billing, scheduling and telemedicine services for the healthcare group. 3301 Quantum Blvd. sits on an 8.2-acre site within the Quantum Office Park in the center of Palm Beach County. The property is close to Interstate 95 and is located 15.1 miles from West Palm Beach.

September 20, 2021

Leasing Activity Massachusetts Northeast Retail

Floor & Décor to Open 70,000 SF Store in Waltham, Massachusetts on Sept. 23

by Taylor Williams September 20, 2021

WALTHAM, MASS. — Atlanta-based home improvement retailer Floor & Décor will open a 70,000-square-foot store at 80 Second Ave. in the western Boston suburb of Waltham on Thursday, Sept. 23. The store, which will be the retailer’s third location in Massachusetts, will include warehouse space and a design center. Floor & Décor has hired about 50 full- and part-time associates to work at the store.

September 20, 2021

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