Property Type

Trammell Crow to Develop 757,000 SF Life Sciences Campus at Johns Hopkins Satellite Campus in Maryland

by John Nelson May 11, 2022

ROCKVILLE, MD. — Trammell Crow Co. has plans to develop The Lab at Belward, a life sciences project situated on the Belward Campus of Johns Hopkins University in Rockville. The property will initially span 757,000 square feet of laboratory and research and development space across three buildings. Trammell Crow entered into a 99-year ground lease with Johns Hopkins University for the 21-acre project. Designed by Gensler to achieve LEED Gold standards, The Lab at Belward will include 18-foot ceiling heights on both the basement and ground floors, with 16-foot heights on all other floors. The property will include amenities, terraces, balconies and a parking garage, as well as a six-acre public park with two retail pavilions. At full buildout the project could span up to 1.6 million square feet across seven buildings, according to Trammell Crow. The Dallas-based developer plans to break ground on the initial phase in June 2023 and deliver the project in early 2025. The project team includes general contractor Clark Construction Group; civil engineer Soltesz Inc.; land use engineer Lerch Early Brewer; mechanical, electrical and plumbing (MEP) engineer James Posey Associates Inc.; structural engineer Thornton Tomasetti; and landscape architect OJB. CBRE is managing the marketing and …

May 11, 2022

Development Georgia Multifamily Southeast

Mill Creek Begins Preleasing at Modera Old Ivy Apartment Community in Atlanta

by John Nelson May 11, 2022

ATLANTA — Mill Creek Residential, a Boca Raton, Fla.-based developer and owner-operator of multifamily properties, has begun preleasing at Modera Old Ivy, a luxury apartment community under development in Atlanta’s Buckhead district. Located within a mid-rise and high-rise tower at 3651 Lenox Road, the development is on a site that includes the Prominence office building and an Element Marriott hotel. First move-ins are anticipated in early June. According to the property website, rental rates range from $2,290 per month for a one-bedroom unit to $6,635 for a three-bedroom apartment. Mill Creek is building the 394-unit property to a National Green Building Standard Gold certification level. Community amenities will include a 24-hour fitness studio, clubhouse, community-wide Wi-Fi, demonstration kitchen, game room, rooftop deck, two pools including one rooftop pool, sauna, steam room, grilling area with outdoor dining, fire pit, coffee bar, library lounge with a reading terrace and landscaped courtyards. Residents will also have secured parking in a private garage with reserved parking and electric vehicle charging stations available, controlled guest-access technology, package lockers, dedicated bike storage, resident storage lockers and concierge services.

May 11, 2022

Acquisitions Retail Texas

Partnership Acquires 1.4 MSF Shops at Willow Bend in Plano, Plans Redevelopment

by Taylor Williams May 11, 2022

PLANO, TEXAS — A partnership between two locally based investment firms, Centennial and Cawley Partners, as well as New York City-based Waterfall Asset Management, has acquired the 1.4 million-square-foot Shops at Willow Bend in Plano. The new ownership plans to redevelop the property, though specific details were not disclosed. Taubman originally developed the shopping center in 2001. Tenants include Neiman Marcus, Dillard’s, Macy’s, Crate & Barrel, Vineyard Vines, H&M, Anthropologie, Equinox and Crayola Experience. California Pizza Kitchen, Wetzel’s Pretzels and Great American Cookies are among the food and beverage users. According to Chain Store Age, the seller was Syracuse-based Spinoso Real Estate Group.

May 11, 2022

Acquisitions Florida Industrial Southeast

Ten Capital Management Purchases 224,359 SF Industrial Park in Metro Orlando

by John Nelson May 11, 2022

LAKE MARY, FLA. — Ten Capital Management, a privately held real estate investment management firm based in metro Cleveland, has purchased SunTech Commerce Park, a six-building, 224,359-square-foot industrial park in suburban Orlando. The property is situated on 19.3 acres at 39-59 Skyline Drive in Lake Mary, about a quarter mile from Interstate 4. According to LoopNet Inc., the campus includes five single-story flex buildings and one three-story office building. The seller and sales price were not disclosed.

May 11, 2022

Acquisitions Multifamily South Carolina Southeast

CREC Real Estate, Rincon Capital Partners Acquire Planters Trace Apartments in Charleston

by John Nelson May 11, 2022

CHARLESTON, S.C. — CREC Real Estate LLC and Rincon Capital Partners have acquired Planters Trace Apartments, a 96-unit, Class B multifamily community located in the West Ashley submarket of Charleston. The seller and sales price were not disclosed. The 10.6-acre property, built in 1974 and located at 2222 Ashley River Road, has convenient access to nearby jobs, retail and entertainment. The buyers plan to invest $2.8 million in value-add renovations to update common areas, amenities and unit interiors. The property currently features a pool, communal firepit and garden, laundry room, grilling area and a dog park.

May 11, 2022

Loans Multifamily Texas

CBRE Provides Agency Loan for Refinancing of Central Texas Multifamily Portfolio

by Taylor Williams May 11, 2022

AUSTIN AND SAN ANTONIO — CBRE has provided a $62.1 million Fannie Mae loan for the refinancing of a portfolio of six multifamily properties totaling 1,632 units, the majority of which are located in Central Texas. Specifically, the portfolio comprises Canyon Point, Oak Springs and Deer Oaks in San Antonio and Churchill Crossing in Austin, as well as two properties in Charleston, S.C. Nate Sittema and Kristen Reilley of CBRE originated the 10-year, interest-only loan on behalf of the borrower, Boston-based Churchill Forge Properties.

May 11, 2022

Leasing Activity Restaurant Retail Texas

Bright Realty Adds 11 New Retailers, Restaurants at Realm at Castle Hills in Metro Dallas

by Taylor Williams May 11, 2022

LEWISVILLE, TEXAS — Bright Realty has added 11 new retail and restaurant users at The Realm at Castle Hills, the locally based developer’s 324-acre mixed-use destination in the northern Dallas suburb of Lewisville. Food and beverage concepts include Saray Mediterranean Fusion Grill & Bar, Salubrious Juice & More, donut eatery Mochinut, smoothie bar Bahama Bucks, breakfast concept Food Morning and Japanese restaurant Luster Grill. The roster now also features three salons — Cool Heads, Salon Bellus and Cachet Salons & Spa — as well as fitness concept Hotworx and Castle Hills Animal Hospital.

May 11, 2022

Leasing Activity Life Sciences Texas

Matica Biotechnology Opens 45,000 SF Life Sciences Facility in College Station

by Taylor Williams May 11, 2022

COLLEGE STATION, TEXAS — Cell and gene therapy firm Matica Biotechnology has opened a 45,000-square-foot life sciences facility at Providence Park, a 52-acre research and development campus in College Station. Providence Park houses the former 180,000-square-foot facility of Pittsburgh-based manufacturer Westinghouse. Oldham Goodwin manages the property.

May 11, 2022

Industrial Leasing Activity Texas

Renaissance Network Reinvent Signs 42,596 SF Industrial Lease Renewal in Flower Mound, Texas

by Taylor Williams May 11, 2022

FLOWER MOUND, TEXAS — Renaissance Network Reinvent, which provides engineering-centric repairs and supply chain management solutions, has signed a 42,596-square-foot industrial lease renewal at 1200 Lakeside Parkway in Flower Mound, located north of Fort Worth. According to LoopNet Inc., the property was built on 26.6 acres in 2007. Evan Hammer, Ben Crancer, Lauren Pesqueda and Brendan Zrowka of Whitebox Real Estate represented the tenant in the lease negotiations. Whitney Williamson represented the landlord, Prologis, on an internal basis.

May 11, 2022

Development Massachusetts Multifamily Northeast

LCOR, DivcoWest Begin Leasing 468-Unit Park 151 Apartments Near Boston

by Taylor Williams May 11, 2022

EAST CAMBRIDGE, MASS. — A joint venture between LCOR, a development firm with three offices in the mid-Atlantic region, and San Francisco-based DivcoWest has begun leasing Park 151, a 468-unit apartment community located across the Charles River from Boston in East Cambridge. The 20-story building houses studio, one-, two- and three-bedroom units, 392 of which are market-rate apartments, 54 of which are affordable and 22 of which are penthouses. In addition, Park 151 features 19,000 square feet of ground-floor retail space. Amenities include a pool and lounge area, outdoor grilling stations, a fitness center, indoor and outdoor yoga spaces, a terrace and coworking and micro-office spaces. Rents start at roughly $2,900 per month for a studio apartment.

May 11, 2022

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