Property Type

Nordstrom Rack to Open 24,000 SF Store at Terrace at Hamilton Place in Chattanooga

by John Nelson July 27, 2022

CHATTANOOGA, TENN. — Nordstrom Inc. plans to open a new Nordstrom Rack store at The Terrace at Hamilton Place, an open-air shopping center located at the intersection of Shallowford Road and I-75 in Chattanooga. This will be the third Nordstrom Rack and fourth Nordstrom concept in Tennessee. Locally based CBL Properties owns and manages Hamilton Place, which houses retailers including Academy Sports + Outdoors, DSW, Ulta Beauty and Old Navy. CBL Properties plans to open the Nordstrom Rack store in spring 2023.

July 27, 2022

Acquisitions Multifamily Texas

IPA Negotiates Sale of Two Adjoining Multifamily Properties Totaling 524 Units in Irving

by Taylor Williams July 26, 2022

IRVING, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of two adjoining multifamily properties in Irving totaling 524 units. Built in 1972and 1974, respectively, Rustic Ridge and Asher Park offer amenities such as a pools with a picnic areas, pergolas and dog parks, as well as package handling centers. IPA’s Taylor Hill, Michael Ware, Drew Kile, Joey Tumminello, Asher Hall and Will Balthrope represented the undisclosed, Texas-based seller in the transaction. The team also procured the buyer, Touro Co. Brian Eisendrath and Cameron Chalfant, also with IPA, arranged an undisclosed amount of acquisition financing for the deal.

July 26, 2022

Build-to-Rent Development Multifamily Single-Family Rental Texas

RangeWater Underway on Development of 120 Build-to-Rent Homes, 325 Apartment Units in Fort Worth

by Taylor Williams July 26, 2022

FORT WORTH, TEXAS — Atlanta-based developer RangeWater Real Estate is underway on construction of 120 build-to-rent (BTR) homes and 325 apartment units in Fort Worth. Both complexes will be situated on a 23-acre site in the city’s Beechwood neighborhood. The townhome-style units of Palo, the BTR community, will come in three-bedroom formats and will include private patios. Palo will also have its own pool. Ellianna’s rental apartments will feature one-, two- and three-bedroom floor plans, and residents will have access to a separate pool, a fitness center, clubhouse, outdoor kitchen and a dog park. Construction began in June, and the first units are expected to be complete in the third quarter of 2023.

July 26, 2022

Acquisitions Multifamily Texas

Berkadia Brokers Sale of 400-Unit Westchase Forest Apartments in Houston

by Taylor Williams July 26, 2022

HOUSTON — Berkadia has brokered the sale of Westchase Forest, a 400-unit apartment community located at 11355 Richmond Ave. in Houston. Westchase Forest offers one-, two- and three-bedroom apartments ranging in size from 570 to 1,242 square feet. Units feature stainless steel appliances, breakfast bars, private patios and in-unit washer and dryers. Communal amenities include a business center, clubhouse, internet café, media room, picnic area with a barbecue pavilion, two pools and a fitness center. Chris Young, Joey Rippel, Kyle Whitney, Jeffrey Skipworth, Chris Curry and Todd Marix of Berkadia represented the seller, Southern California-based investment firm Nimes Real Estate, in the deal. The buyer was not disclosed.

July 26, 2022

Acquisitions Build-to-Rent Multifamily Single-Family Rental Texas

Partnership Buys Two Residential Properties Totaling 371 Units Near Corpus Christi

by Taylor Williams July 26, 2022

ARANSAS PASS AND ROCKPORT, TEXAS — Dallas-based RREAF Holdings and its two Florida-based equity partners, DLP Capital and Miami-based 3650 REIT, have purchased two residential properties totaling 371 units that are located on the outskirts of Corpus Christi. Windy Shores is a 155-unit build-to-rent community in Aransas Pass that was constructed in 2004, and Pearl Point is a 216-unit, garden-style apartment complex in Rockport that was completed in 2020. Nathan Stone and Guy Griffith of Berkadia provided an undisclosed amount of Freddie Mac acquisition financing to the partnership, which plans to renovate unit interiors and common areas at both properties.

July 26, 2022

Acquisitions Industrial Texas

Westcore Acquires Eisenhauer Business Park in San Antonio for $36.6M

by Taylor Williams July 26, 2022

SAN ANTONIO — San Diego-based investment firm Westcore has acquired Eisenhauer Business Park, a 377,318-square-foot industrial development in San Antonio, for $36.6 million. The newly built, four-building property was 95 percent leased at the time of sale. Building features include dock-high and grade-level loading doors and clear heights ranging from 28 to 32 feet. Michael Kent of Stream Realty Partners represented the seller, NIT Industrial, in the transaction. Westcore was self-represented.

July 26, 2022

Development Industrial South Carolina Southeast

SunCap Breaks Ground on 1 MSF Spec Industrial Facility in Greenville

by John Nelson July 26, 2022

GREENVILLE, S.C. — Charlotte-based SunCap Property Group has broken ground on a 1 million-square-foot spec industrial facility within Greenville Enterprise Park, a 140-acre industrial park on the south side of Greenville. SunCap purchased the land in partnership with the real estate arm of Goldman Sachs Asset Management. Located at 7755 Augusta Road near I-185, the speculative facility is expandable up to 1.5 million square feet, depending on end user requirements. The property will feature 40-foot clear heights and cross-dock orientation, as well as ample onsite employee and trailer parking. Garrett Scott, John Montgomery, Brockton Hall and Dillon Swayngim of Colliers are the leasing agents for the property. The project is SunCap’s eighth in Upstate South Carolina and the largest speculative building in Greenville County, according to Colliers.

July 26, 2022

Acquisitions Florida Retail Southeast

Limestone, Orion Buy Millenia Plaza Retail Center in Orlando for $74.1M

by John Nelson July 26, 2022

ORLANDO, FLA. — Miami-based Limestone Asset Management and Orion Real Estate Group have purchased Millenia Plaza, a 411,503-square-foot shopping center located at 4403-4467 Millenia Plaza Way in Orlando. The seller, North American Development Group (doing business as Millenia Plaza LLC), sold the property for $74.1 million. Brad Peterson and Whitaker Leonhardt of JLL represented the seller in the transaction. Ocean Bank provided an undisclosed amount of acquisition financing in the transaction. Millenia Plaza’s tenant roster includes The Home Depot, BJ’s Wholesale Club, Ashley Furniture, Dick’s Sporting Goods, Total Wine & More and Ross Dress for Less.

July 26, 2022

Development Industrial Leasing Activity North Carolina Southeast

Apparel Manufacturer AS Colour Signs 240,000 SF Industrial Lease in Southwest Charlotte

by John Nelson July 26, 2022

CHARLOTTE, N.C. — AS Colour, a New Zealand-based apparel designer and manufacturer, has signed a 240,000-square-foot lease at 11109 Quality Drive in southwest Charlotte. The new facility will be the largest among AS Colour’s existing network of distribution centers in New Zealand, Australia, the UK and California, and will serve as the firm’s base of operations on the East Coast. Chris Skibinski, Henry Lobb and Colin Ferguson of Avison Young represented the landlord, Charland Partners, in the lease negotiations. Tom Tropeano, also with Avison Young, represented AS Colour.

July 26, 2022

Development Georgia Industrial Southeast

Robison Weeks Begins Construction on 169,520 SF Industrial Facility at Gillem Logistics Center in Metro Atlanta

by John Nelson July 26, 2022

FOREST PARK, GA. — Robinson Weeks Partners has begun construction on Gillem 700, a 169,520-square-foot speculative industrial facility situated within Gillem Logistics Center in the south Atlanta suburb of Forest Park. Gillem 700 is Robinson Weeks’ ninth project underway at Gillem Logistics Center, a 1,168-acre industrial campus home to blue chip companies including Kroger, HD Supply, Cummins Inc. and Kuehne & Nagel. The new property will feature spec office space, 40 dock high loading doors, two drive-in doors, 34 trailer spaces and 175 auto spaces. The property is situated near I-675 and I-285. Cushman & Wakefield’s Pat Murphy, Ray Stache, Ryan Bellows and Andrew Thurman are managing leasing for Gillem 700. Robison Weeks plans to deliver the asset in March 2023.

July 26, 2022

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