NORWALK, CONN. — Shawmut Design & Construction has topped off the 24,000-square-foot office headquarters building for global luxury vinyl tile manufacturer HMTX Industries in Norwalk, located in the southern coastal part of the state. The facility will be situated on two acres and will include design studios and galleries. Construction of the four-story building began in June and is scheduled to be complete in 2022.
LOS ANGELES — Haven Realty Capital, a Los Angeles-based single-family rental investor, has acquired three communities in the Southeast to add to its institutional single-family rental and build-to-rent portfolio. The housing developments are currently under construction and are located in metro Atlanta and in Charlotte. The two separate transactions totaled $80 million, and the sellers were not disclosed. The first metro Atlanta community, Stapleton Park, is located at 150 John Wesley Way in McDonough and will include 76 homes. The property will have three- and four-bedroom floorplans ranging in size from 1,916 to 2,655 square feet. The other property, Rosemary Park at Sugarloaf, is located at 819 Sugarloaf Parkway in Lawrenceville and will include 78 three-bedroom and two-and-a-half bedroom townhomes. Ranging in size from 1,559 to 1,804 square feet, each home in Rosemary Park will feature granite countertops, hard surface flooring, new stainless-steel appliances and private backyard. In a separate transaction, Haven Realty closed on the first phase of Queen City Townes, a 106-unit rental townhome community in Charlotte’s South End. The two- and three-bedroom townhomes range in size from 1,370 to 1,599 square feet. Located at 4928 Old Pineville Road, the community is situated 0.2 miles from the Woodlawn …
HORN LAKE, MISS. — JLL has brokered the sale of DeSoto A2, a 328,355-square-foot bulk distribution facility in Horn Lake. The facility is triple-net-leased to Toshiba, a Tokyo-based computer and electronics retailer company. Dennis Mitchell, Matt Wirth, Britton Burdette, Jim Freeman, Mitchell Townsend and Jack Wohrman of JLL represented the seller, Preylock Holdings, in the transaction. Bixby Land Co. purchased the property for an undisclosed price. DeSoto A2 is part of DeSoto 55 Logistics Center, a business center developed in 2020 by Atlanta-based Core5 Industrial Partners. The single-tenant building features 36-foot clear heights, ESFR fire protection, a TPO roof, auto and trailer parking and dock-high doors with view windows. The facility is located at 1453 Commerce Parkway in a suburb less than 20 miles south of downtown Memphis. The infill location is just off Interstate 55, about 10 miles from Memphis International Airport. Additionally, the property has unparalleled regional access along with proximity to multiple intermodal facilities, including Canadian National Harrison Yard, BNSF Railway and Norfolk Southern.
ATLANTA AND DALLAS — Atlanta-based PulteGroup Inc. and Dallas-based Invitation Homes have formed a joint venture to build and lease new single-family rental homes. PulteGroup expects to design and build approximately 7,500 new homes over the next five years specifically for sale to Invitation Homes for inclusion in its single-family rental leasing portfolio. The companies have already agreed on the construction and sale of over 1,000 homes across seven communities over the next several years, with the first sales expected to close in 2022. Initial projects are scheduled for delivery in growth markets such as Florida, Georgia, Southern California, North Carolina and Texas. PulteGroup Inc. is a homebuilding company with operations in more than 40 markets throughout the country. Invitation Homes is a single-family home leasing and management company.
MYRTLE BEACH, S.C. — Lodging Partners LLC has arranged the sale of Quality Inn & Suites Myrtle Beach, a 65-room hotel. Lodging Partners represented the undisclosed seller in the transaction. The sales price was not disclosed. The eight-story hotel sold to a regional owner and operator of select-service hotels. The property is located directly across the street from the Atlantic Ocean and 6.7 miles from Family Kingdom Amusement Park and Splashes Water Park and 7.5 miles from the Myrtle Beach Boardwalk. Quality Inn & Suites Myrtle Beach is the 20th hotel deal that Lodging Partners has been involved with in the Myrtle Beach market. Other recent sales completed in 2021 by Lodging Partners include the sale of three mid-market extended-stay hotels: the Affordable Corporate Suites located in Concord, Statesville and Kannapolis, N.C. Lodging Partners is a specialized hotel brokerage and advisory firm focused on the sale of select-service hospitality investment properties on behalf of institutional and private investors throughout the United States.
LEXINGTON, KY. — SVN | Stone Commercial Real Estate has brokered the $17.4 million sale of Mist Lake Plaza, a 217,292-square-foot shopping center in Lexington. Matt Stone, Justin Ryder and Nathan Dilly of SVN | Stone represented the seller, DF Lexington Properties LLC. Jim Powell of The Gibson Co. represented the buyer, S & P Holdings LLC. The center will be the future home of Lexington Motorsports, a motorcycle dealer in Kentucky. Mist Lake Plaza is located near Man O’ War Boulevard, Saint Joseph East Hospital and Hamburg Pavilion. The City Council of Lexington approved the lifting of a deed restriction that would allow Lexington Motorsports to operate on the site. Lexington Motorsports will occupy about 125,442 square feet of the facility. Built in 1992, Mist Lake Plaza is 89 percent occupied. The other tenants at the property include Nay’s Hair Braiding, Gabe’s, Hibbett Sports, Texas Roadhouse, Check Advance, H&R Block, Pro Nail Salon and Rent-A-Center.
TACOMA, WASH. — Dalfen Industrial has purchased Tacoma Supply Chain Center, a three-building industrial park in Tacoma. Terms of the off-market transaction were not released. The newly developed property features 711,855 square feet of industrial space and close proximity to Interstate 5, State Route 512 and the Port of Tacoma. Over the last 12 months, Dalfen Industrial has acquired and developed more than $1.5 billion of industrial properties in key metros across the United States.
BOISE, IDAHO — Standard Communities has completed the ground-up development of a 173-unit market-rate apartment building in Boise. Standard partnered with River Caddis Development, as co-owners and co-developers, to construct Jules on 3rd Apartments. The Opus Group served as design-build partner for the project. Located at 415 S. Third St., Jules On 3rd Apartments features a rooftop pool and sundeck; a fitness and wellness room; Sky Lounge Club Room; outdoor kitchen and barbecue grills; outdoor fireplaces; a conference room; a dog park and spa; covered parking spots for resident and public use; and storage for 192 bicycles. The property offers a mix of studio, one- and two-bedroom units in a variety of layouts with vaulted ceilings, high-end finishes, quartz countertops, stainless steel appliances, private patios and balconies, built-in shelving, smart home technology door locks and thermostats, and full-size washers and dryers.
FRESNO, CALIF. — The Mogharebi Group (TMG) has arranged the sale of Sandalwood Gardens, a multifamily property located at 3880 N. Fruit Ave. in Fresno. An undisclosed buyer acquired the property for $15 million. The name of the seller was not released. Built in 1986 on 5.4 acres, Sandalwood Gardens features 124 apartments, two swimming pools, garages, covered parking, a leasing center and laundry facilities. The property also features a commercial section that is leased to a daycare center. Robin Kane and Brendan Kane of TMG represented the seller in the deal.
MODESTO, CALIF. — JCH Senior Housing Investment has arranged the triple-net lease of a 68-unit, 120-bed assisted living and memory care community in Modesto, approximately 80 miles south of Sacramento. The team at JCH led a marketing campaign for the landlords, a family-owned owner-operator that is seeking retirement. Throughout the pandemic, the facility struggled to maintain census and keep up with new requirements from licensing, ultimately leading to a licensing revocation hearing. A local operator seeking to convert the building to an adult residential facility was the successful bidder. The lease rate is $200,000 per bed. Jim Hazzard and Cindy Hazzard handled the transaction process for JCH.