Property Type

OKC Industrial Market Sees Record Development, Low Vacancy as 2022 Begins

by Taylor Williams March 1, 2022

By Randy Lacey, SIOR, senior vice president, CBRE | Oklahoma City; and Chris Zach, CPA, associate, CBRE | Oklahoma City Contrary to popular belief, the ongoing pandemic has been a boon to many aspects of the Oklahoma City economy. Industrial real estate growth has been more prominent than any other commercial sector. Those familiar with the city and surrounding area can vouch for the speed and intensity of housing demand and development, but industrial real estate has set itself apart over the last few years. OKC is Here to Stay Oklahoma City has a lot going for it. The market always has been well-positioned in terms of its central geographic location at the intersection of Interstates 35 and 40 and has seen tremendous growth and success in the last decade, with significant headway in the local industrial real estate market. The industry has proven its resiliency amid the pandemic and should continue to fare well into the future. But low costs of living and doing business have further bolstered the appeal of the community. In fact, Oklahoma City is only one of 14 cities across the country to add more than 100,000 people in the last 10 years, …

March 1, 2022

Development Industrial Self-Storage Texas

SurePoint to Develop 744-Unit Self-Storage Facility in Conroe, Texas

by Taylor Williams February 28, 2022

CONROE, TEXAS — SurePoint Self Storage will develop a 744-unit facility that will be located within Johnson Development’s Grand Central Park master-planned community in the northern Houston suburb of Conroe. CubeSmart will operate the facility, which will feature approximately 94,000 square feet of net rentable, climate-controlled space. Construction is scheduled to begin this fall and to be complete in May 2023. The facility will be SurePoint’s 14th self-storage development in the greater Houston area.

February 28, 2022

Acquisitions Multifamily Student Housing Texas

Vesper Holdings, Fortress Acquire 564-Bed Student Housing Community in Denton, Texas

by Taylor Williams February 28, 2022

DENTON, TEXAS — A joint venture between New York City-based investment firm Vesper Holdings and funds managed by affiliates of Fortress Investment Group LLC has purchased CastleRock at Denton, a 564-bed student housing property located near the University of North Texas. Constructed in 2000, the building features 192 units in a mix of one-, two-, three- and four-bedroom floor plans. Amenities include a fitness center, pool, computer lab, clubhouse, dog park and shuttle service to campus. Vesper plans to invest more than $1 million in renovations, including upgrades of unit interiors and amenity spaces, as well as building exteriors. The seller and sales price were not disclosed.

February 28, 2022

Acquisitions Florida Multifamily Southeast

Livingston Street Capital Acquires Multifamily Property in Ponte Vedra Beach, Florida

by Julia Sanders February 28, 2022

PONTE VEDRA BEACH, FLA. — An affiliate of Radnor, Penn.-based Livingston Street Capital has acquired Olea at Nocatee, a 175-unit, Class A multifamily property in Ponte Vedra Beach. The seller and sales price were not disclosed. Built in 2020, Olea at Nocatee includes three three-story buildings and one one-story building. The property offers one-, two- and three-bedroom floorplans with walk-in closets, granite countertops, stainless steel appliances and hardwood-style flooring. Community amenities include a resort-style pool with outdoor kitchen, fitness studio, craft room, library, media room and a golf cart rental service. The property is located near Florida State Road A1A, Interstate 95 and Interstate 295. The property is located within the Nocatee Community Park, a master-planned community which features over 75 acres of parks, including extensive hiking trails, a concession building, dog park, tennis courts and greenways.

February 28, 2022

Florida Loans Multifamily Seniors Housing Southeast

Colliers Mortgage Provides $23.4M Construction Loan for Seniors Housing Facility in Oxford, Florida

by Julia Sanders February 28, 2022

OXFORD, FLA. — Colliers Mortgage | Commercial Finance, a division of Colliers, has provided a $23.4 million construction loan for Stonegate at Wildwood, a 130-unit seniors housing development in Oxford, approximately 50 miles northwest of downtown Orlando. The borrower is Stonegate Development Co. Stonegate at Wildwood will be a two-story property located on an approximately 3.9-acre parcel within an area commonly known as The Villages, a large master-planned, age-restricted community.

February 28, 2022

Acquisitions Illinois Midwest Office Retail

Marcus & Millichap Brokers $19.7M Sale of Office, Retail Property in Lake Forest, Illinois

by Kristin Harlow February 28, 2022

LAKE FOREST, ILL. — Marcus & Millichap has brokered the $19.7 million sale of Forest Square in Lake Forest, about 30 miles north of Chicago. The 53,122-square-foot office and retail property is located at 840 S. Waukegan Road and was built in 2008. The building was nearly 90 percent occupied at the time of sale. Tenants include Lake Forest Family Dental, Envision Health, Physical Therapy of Lake Forest, The Hearing Lab, Abbott Laboratories, LoMastro Performing Arts Academy, Lou Malnati’s Pizzeria, Jimmy Johns and Starbucks. Stephen Lieberman of Marcus & Millichap represented the seller, GCP Forest Square LLC. Woodard Properties LLC was the buyer.

February 28, 2022

Affordable Housing Development Multifamily North Carolina Seniors Housing Southeast

Woda Cooper Opens 50-Unit Affordable Seniors Housing in Hickory, North Carolina

by Julia Sanders February 28, 2022

HICKORY, N.C. — Woda Cooper Cos. Inc. has opened Center Crossing, a 50-unit, four-story affordable seniors housing community in Hickory that offers one- and two-bedroom apartments. Five of the units are accessible for those with mobility challenges, including two units specifically equipped for those with sight and hearing impairments. Unit features include kitchens with Energy Star-rate appliances, dedicated storage areas and washer and dryer closets. The property serves residents aged 55 and older who earn 40 to 80 percent area median income (AMI). Rental rates range from $356 to $921 per month, depending on unit size and income restriction. Community amenities include an onsite management office, a multipurpose space with laundry and a fitness center, as well as a computer room. The property also features off-street parking, a covered patio with seating, additional outdoor seating areas and a covered bus stop. North Carolina Housing Finance Agency (NCHFA) allocated federal Low-Income Housing Tax Credits (LIHTC) to support equity financing for Center Crossing, including two permanent debt loans. Western Piedmont Council of Governments provided a $250,000 Home Loan through its Unifour Home Consortium. CREA LLC purchased the tax credits which also provided equity for the project. RiverHills Bank provided a $6.9 million …

February 28, 2022

Development Industrial Iowa Midwest

Hydrite Chemical to Expand Manufacturing Facility in Waterloo, Iowa

by Kristin Harlow February 28, 2022

WATERLOO, IOWA — Hydrite Chemical plans to expand its facility in Waterloo that manufactures and distributes chemical products throughout the U.S. The City of Waterloo awarded tax benefits for the expansion project, which represents a $21 million capital investment over the next three years. Hydrite also plans to expand the facility’s transportation fleet and warehouse space. The project is expected to bring the workforce total to 158 employees at the Waterloo facility, which is the company’s only Iowa location and its largest property.

February 28, 2022

Illinois Leasing Activity Midwest Retail

Several Tenants Sign Leases at Glen Town Center in Glenview, Illinois

by Kristin Harlow February 28, 2022

GLENVIEW, ILL. — Several new tenants have signed leases to join the lineup at The Glen Town Center, a shopping center in Glenview, about 20 miles north of Chicago. Offix, a regional coworking and business solutions company, recently signed a 10-year lease for 6,200 square feet for its seventh location. Another recent lease signing was Chuck Lager America’s Tavern, which is owned by Fabio Vivani who appeared on the show “Top Chef.” Also joining the center will be Stretch Zone, a national boutique fitness company with over 40 locations nationwide. Poke Burrito, a local Asian restaurant, will open its sixth location in 1,800 square feet. Last year, Perfect Wedding opened its first location at the center, and in January, Eggspresso breakfast and brunch restaurant opened. SVN Chicago Commercial is the leasing agent for the property.

February 28, 2022

Acquisitions Illinois Midwest Restaurant Retail

Adelphia Properties Arranges Sale of 14,000 SF Former Restaurant Building in Elmhurst, Illinois

by Kristin Harlow February 28, 2022

ELMHURST, ILL. — Adelphia Properties has arranged the sale of a 14,000-square-foot former restaurant building in Elmhurst, about 20 miles west of Chicago. Arena Sports Bar & Grille formerly occupied the property, located at 630 W. Lake St., for more than 35 years. Simeon Spirrison and George Spirrison of Adelphia represented the seller, the proprietor. A local investor purchased the asset for an undisclosed price.

February 28, 2022

Newer Posts

Older Posts