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AcquisitionsOfficeSoutheastTennessee

Shorenstein Purchases 20-Story Office Tower in Nashville’s Gulch District

by John Nelson

NASHVILLE, TENN. — San Francisco-based Shorenstein Investment Advisers has purchased 1222 Demonbreun, a 20-story, Class A office tower located in Nashville’s Gulch district. The 330,474-square-foot property was 97 percent leased at the time of sale and represents Phase I of the Gulch Union mixed-use development. The seller and sales price were not disclosed, but the property was delivered in 2020 by a joint venture between Austin-based Endeavor Real Estate Group and Dallas-based Granite Properties. 1222 Demonbreun’s amenities include an indoor-outdoor sky lounge, 48-seat training room, fitness center, micro-market and more than 900 covered parking spaces.

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DevelopmentMultifamilyNorth CarolinaSoutheast

Alliance Residential to Develop 270-Unit Broadstone RTP Apartments in Durham

by John Nelson

DURHAM, N.C. — Arizona-based Alliance Residential Co. has acquired approximately 14 acres of land in Durham for Broadstone RTP, a 270-unit project about four miles north of Research Triangle Park. The site is located at 2610 S. Miami Blvd. The project’s Raleigh-based team includes McAdams Co. (civil engineering), Cline Design (architecture) and MAD Studio Interiors (interior design). Broadstone RTP will include one three-story residential building, three four-story residential buildings and a freestanding clubhouse. Units will feature granite countertops, stainless steel appliances, wood-style flooring, walk-in closets and full-sized washers and dryers. Amenities include a clubhouse with a leasing center, private offices for residents, a 24-hour fitness center and a mailroom equipped with secure package lockers. Residents will also have access to a resort-style pool, an outdoor kitchen and grilling area and a dog park. Completion is slated for late 2026.

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AcquisitionsMultifamilyNorth CarolinaSeniors HousingSoutheast

Principal Asset Management Acquires Two Active Adult Communities in Raleigh-Durham Totaling 373 Units

by John Nelson

MORRISVILLE AND CHAPEL HILL, N.C. — Principal Asset Management has acquired two active adult communities in the Raleigh-Durham region totaling 373 units. The properties include Overture Cary, located at 1055 Hatches Pond Lane in Morrisville, and Overture Chapel Hill, situated near the Highway 54 and I-40 interchange and the University of North Carolina at Chapel Hill. The communities were developed in 2021 and 2020, respectively, and stand at five stories. The seller and sales price were not released.

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AcquisitionsFloridaSeniors HousingSoutheast

Fortress Investment Group Sells Two Florida Seniors Housing Communities Totaling 178 Units

by John Nelson

BOCA RATON AND VERO BEACH, FLA. — Funds managed by affiliates of Fortress Investment Group have sold two seniors housing communities located in Florida. Totaling 178 units, the communities include Sonata Boca Raton and Sonata Vero Beach. JLL Capital Markets brokered the sale on behalf of the seller. Agewell Solvere Living will remain in place as the operator at both communities. The buyer and sales price were not disclosed.

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AcquisitionsFloridaIndustrialSoutheast

Simi Capital Group Buys 75,000 SF Industrial Property in Jacksonville

by John Nelson

JACKSONVILLE, FLA. — Miami-based Simi Capital Group has purchased a 75,000-square-foot industrial property located at 4549 St. Augustine Road in Jacksonville. The seller was a family entity that owned the property for more than 50 years. The sales price was not disclosed. Simi Capital Group is repositioning the asset into a small bay industrial park with modern suites ranging in size from 1,500 to 4,500 square feet. Upgrades will include upgraded offices, LED lighting, exterior finishes and a fully secured site with an automated gate and 24/7 camera surveillance. The park was originally developed in 1973, according to LoopNet Inc.

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CivicDevelopmentMidwestMinnesota

Kraus-Anderson Completes $46.6M Redwood Valley Elementary School in Minnesota

by Kristin Harlow

REDWOOD FALLS, MINN. — Kraus-Anderson has completed the new $46.6 million Redwood Valley Elementary School at 201 McPhail Drive in southern Minnesota’s Redwood Falls. Designed by Wold Architects and Engineers, the 85,639-square-foot, two-story project features classrooms, early childhood education, special education, a media center, flex spaces, a gym, cafeteria, storm shelter and secured entries. There are three outdoor play spaces as well as a bus loop, parent drop-off area, parking lots and sidewalks. Construction began in May 2024.

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CivicDevelopmentMidwestMissouri

Nabholz Construction Breaks Ground on Fire Safety Facilities, Community Hub in Sedalia, Missouri

by Kristin Harlow

SEDALIA, MO. — Nabholz Construction Corp. has broken ground on a new fire station, training facility and bowling alley in central Missouri’s Sedalia. Hoefer Welker designed the facilities. The 8,585-square-foot fire station will replace the previous facility. it will feature a three-bay fire apparatus facility with six bunk rooms, a dayroom and a fitness room. The station will be built with a hot zone design approach, decreasing firefighters’ exposure to smoke, carcinogens and toxic chemicals, according to Hoefer Welker. There will also be a dedicated gear decontamination area and advanced air pressurization and thermal comfort systems. Adjacent to the new fire station, the 2,749-square-foot fire training facility will house two fire apparatus bays and include a workshop and restrooms within the pre-engineered metal building. A separately designed burn tower will serve as a comprehensive classroom. The project will also include an 18,775-squarefoot, 16-lane bowling alley with a commercial kitchen and e-sports center. The bowling alley is being funded through a combination of city funds and a donation from Sue Heckert, a notable donor to several city projects, including the Heckert Community Center. Additional project partners include BHC Engineering, Landworks Studio, Bob D. Campbell & Co. and IMEG.

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AcquisitionsIndianaIndustrialMidwest

Marcus & Millichap Arranges $4.3M Sale of Industrial Property in Brownsburg, Indiana

by Kristin Harlow

BROWNSBURG, IND. — Marcus & Millichap has arranged the $4.3 million sale of a single-tenant, net-leased industrial building in the Indianapolis suburb of Brownsburg. Located at 464 Southpoint Circle, the property comprises 64,176 rentable square feet on 5.6 acres. Built in 1975, the facility is fully occupied by Nucleated Technologies. Sam Curtis, Joseph DiSalvo and Forest Bender of Marcus & Millichap represented the seller. The all-cash transaction closed in under 30 days.

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AcquisitionsIndustrialMidwestWisconsin

NAI Pfefferle Brokers Sale of 33,315 SF Industrial Facility in Central Wisconsin

by Kristin Harlow

WAUSAU, WIS. — NAI Pfefferle has brokered the sale of a 33,315-square-foot industrial facility in central Wisconsin’s Wausau. The property is located at 840 S. 66th Ave. The sales price was not disclosed, but the asking price was $2.2 million. TJ Morice of NAI Pfefferle brokered the sale.

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KansasLeasing ActivityMidwestRetail

Rally House Relocates to 9,473 SF Retail Space in Mission, Kansas

by Kristin Harlow

MISSION, KAN. — Rally House has relocated to Mission West Shopping Center at 6753 Johnson Drive in the Kansas City suburb of Mission. The estimated opening date is spring 2026. Rally House was previously located at 6858 Johnson Drive. The new 9,473-square-foot store will neighbor Planet Fitness, Dollar Tree and American Honey Salon. The new space represents an expansion of 2,473 square feet. Grant Summers, Paul Massali, Max Kosoglad and David Block of Block & Co. Inc. Realtors represented the landlord. Block & Co. serves as the leasing and property management company for the shopping center.

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