Property Type

Hudson Capital Breaks Ground on Phase II of Apartment Community in Raleigh

by Julia Sanders February 23, 2022

RALEIGH, N.C. — Hudson Capital Properties has broken ground on Phase II of Hudson 5401, a 264-unit apartment community in Raleigh. The first phase of the development included 192 units and was completed in 2019. Unit features in Phase I include granite countertops, kitchen islands, oversized windows, outdoor grilling, double vanity in bathrooms, stainless steel appliances and ceiling fans. Hudson 5401 is part of 5401 North, a 400-plus-acre master planned development. When both phases of Hudson 5401 are completed, the community will feature a total of 456 apartments featuring amenities such as a resort-style pool area with cabanas, coworking spaces and fitness centers. Goddard Day School and Splash and Dash Pet Groomer have opened in the community. Additional retail is opening this year, including a coffee shop. Located between Interstate 540 and Highway 401, Hudson 5401 is situated eight miles from downtown Raleigh and 18 miles from Raleigh-Durham International Airport. The property is also situated close to the Neuse River Greenway, which offers over 27 miles of trails.

February 23, 2022

Acquisitions Georgia Retail Southeast

DNA Partners Sells Metro Atlanta Shopping Center for $29.5M

by Julia Sanders February 23, 2022

ROSWELL, GA. — Great Neck, N.Y.-based DNA Partners has sold Connexion at Holcomb Bridge, a 106,711-square-foot neighborhood shopping center in Roswell, about 21 miles from downtown Atlanta. Jim Hamilton, Brad Buchanan and Taylor Callaway of JLL Capital Markets represented DNA Partners in the sale. Brixmor Property Group purchased the property for $29.5 million. Connexion at Holcomb Bridge was 93 percent leased at the time of sale to tenants including Planet Fitness, Starbucks, Kale Me Crazy, My Salon Suite, Emory Healthcare Network, Dogtopia and From the Earth Brewing Co. Originally constructed in 1985, the property was expanded in 2014 and underwent a multimillion-dollar renovation in 2016. Situated on 11.8 acres at 1570 Holcomb Bridge Road, Connexion at Holcomb Bridge is located less than one mile from Ga Highway 400.

February 23, 2022

Acquisitions Illinois Industrial Midwest

JLL Brokers Sale of 906,517 SF Industrial Facility in Joliet, Illinois

by Kristin Harlow February 23, 2022

JOLIET, ILL. — JLL Capital Markets has brokered the sale of Clarius Park Joliet Building 2, a 906,517-square-foot industrial facility in Joliet. The sales price was undisclosed. Lion Electric occupies the building, which features a clear height of 40 feet, 107 dock-high doors, 16 drive-in doors and 213 trailer stalls. John Huguenard, Sean Devaney and Peter Moriarty of JLL represented the seller, a partnership between Clarius Partners LLC and Walton Street Capital LLC. Dominic Carbonari, Rob Wheeler and Michael Connor of JLL assisted in the sales transaction after completing the lease on behalf of the seller. Avison Young Investment Management was the buyer.

February 23, 2022

Affordable Housing Development Illinois Midwest Multifamily Seniors Housing

Walsh Construction Completes 70-Unit Affordable Seniors Housing Community in Chicago

by Kristin Harlow February 23, 2022

CHICAGO — Walsh Construction has completed Broadview Senior Apartments, an affordable community for residents age 55 and older in Chicago. CIBC Bank USA provided a $5.3 million construction loan and made a $6.9 million equity investment in the project, which rises three stories. Of the 70 units, 11 are reserved for special-needs tenants. CIBC Bank USA is working with the Housing Opportunities Development Corp. (HODC), which serves as Broadview Senior Apartments’ nonprofit partner. HODC provides services to the residents of the facility, coordinates onsite activities and workshops and provides onsite staff for a minimum of 20 hours per week.

February 23, 2022

Industrial Leasing Activity Michigan Midwest

LM Manufacturing Signs 296,000 SF Industrial Lease in Detroit

by Kristin Harlow February 23, 2022

DETROIT — LM Manufacturing, a joint venture between automotive suppliers Magna and LAN Manufacturing, has leased 296,000 square feet of manufacturing space in Detroit’s Delray neighborhood. The tenant is leasing space within the former Sakthi Industrial Campus, which Bedrock acquired in September 2020. The campus includes roughly 529,000 square feet of industrial space, 89,000 square feet of office space and 10 acres of developable land. LM Manufacturing’s lease will commence in May.

February 23, 2022

Acquisitions Healthcare Midwest Minnesota

Quantum Arranges Sale of Medical Office Asset in Rochester, Minnesota

by Kristin Harlow February 23, 2022

ROCHESTER, MINN. — Quantum Real Estate Advisors Inc. has arranged the sale of a freestanding medical office building in Rochester for an undisclosed price. Located at 124 Elton Hills Lane, the property is home to Bluestem Center for Child and Family Development. Seth Gilford of Quantum represented the seller, a Midwest healthcare provider. Zackary Hilgendorf of Quantum represented the buyer, a New York City-based medical acquisition fund.

February 23, 2022

Acquisitions Midwest Minnesota Restaurant Retail

Hanley Investment Group Negotiates $3.5M Sale of Raising Cane’s Ground Lease in Metro Minneapolis

by Kristin Harlow February 23, 2022

ST. CLOUD, MINN. — Hanley Investment Group Real Estate Advisors has negotiated the $3.5 million sale of a Raising Cane’s ground lease in St. Cloud near Minneapolis. Built in 2021, the 3,493-square-foot restaurant building is located at 2635 W. Division St. Jeff Lefko and Bill Asher of Hanley, in conjunction with Rob Wise of CBRE, represented the seller, Minneapolis-based TOLD Development Co. Chris Rodriguez of Pacific Commercial Investments Inc. represented the buyer, California-based Caravella Properties.

February 23, 2022

Development Industrial Texas

Robinson Weeks Begins Construction on 410,102 SF Spec Industrial Project in South Dallas

by Taylor Williams February 23, 2022

DALLAS — Atlanta-based developer Robinson Weeks Partners has begun construction on I-20 Dallas Crossing, a 410,102-square-foot speculative industrial project in South Dallas. The cross-dock facility will be situated on a 30-acre site and will feature 36-foot clear heights, 78 dock doors, 224 parking spaces, 80 trailer storage spaces and office space. Completion is slated for the fourth quarter. Robinson Weeks has tapped JLL to market the property for lease.

February 23, 2022

Development Multifamily Texas

Thompson Realty, Trez Capital to Develop $50M Multifamily Project in San Marcos, Texas

by Taylor Williams February 23, 2022

SAN MARCOS, TEXAS — A joint venture between Thompson Realty Capital LLC and Trez Capital will develop La Cima, a $50 million multifamily project that will be located in the Central Texas city of San Marcos. The 304-unit project will feature two- and three-story buildings, an amenity center and a pool. An affiliate of Thompson Realty will manage the property upon completion, which is slated for December 2023. The announcement follows the joint venture’s start of development of Larkspur Liberty Hill, a 504-unit community in Austin.

February 23, 2022

Development Multifamily Texas

Scarlet, Urban Meridian Break Ground on $32M Apartment Community in Houston

by Taylor Williams February 23, 2022

HOUSTON — Locally based developer Scarlet, in partnership with full-service real estate firm Urban Meridian Group, has broken ground on a $32 million multifamily project in Houston’s City Park neighborhood. Designed by E Studio Group, the six-building, 216-unit property will be branded Frame Almeda Genoa and will offer one- and two-bedroom units ranging in size from 570 to 1,007 square feet. The project is expected to be complete within the next 12 months.

February 23, 2022

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