Property Type

JLL Arranges $61.6M Sale of Apartment Complex in Minneapolis

by Kristin Harlow February 3, 2022

MINNEAPOLIS — JLL Capital Markets has arranged the $61.6 million sale of Marquee, a 231-unit apartment complex in the Loring Park neighborhood of Minneapolis. The mid-rise property features amenities such as a private conference room, dog wash station, clubroom, rooftop pool, fitness center, resident lounge and bike storage. The community also includes 8,865 square feet of retail space. Mox Gunderson and Dan Linnell of JLL represented the seller, Reuter Walton Development. KC Venture Group LLC was the buyer.

February 3, 2022

Acquisitions Industrial Midwest Minnesota

Colliers Brokers Sale of Three-Property Industrial Portfolio in Minnetonka, Minnesota

by Kristin Harlow February 3, 2022

MINNETONKA, MINN. — Colliers Minneapolis-St. Paul has brokered the sale of a three-property industrial portfolio in Minnetonka for an undisclosed price. The portfolio totals 168,315 square feet and was 99 percent occupied at the time of sale. The buildings, constructed in the 1970s and 1980s, range in size from 37,094 square feet to 68,721 square feet. Mark Kolsrud, John McCarthy, Peter Loehrer, Pete Carbonneau, Kyle Delarosby and Lydia Turczyn of Colliers represented the undisclosed seller. Ryan Cos. US Inc. was the buyer.

February 3, 2022

Loans Midwest Multifamily Ohio

Ready Capital Closes $9M Acquisition Loan for Manufactured Housing Community in Toledo, Ohio

by Kristin Harlow February 3, 2022

TOLEDO, OHIO — Ready Capital has closed a $9 million loan for the acquisition, renovation and stabilization of a 233-pad manufactured housing community in the Ottawa Hills submarket of Toledo. The borrower plans to implement a capital improvement program to renovate lots, dispose of park-owned homes and lease up the vacant pads. The nonrecourse loan features a three-year term, floating rate and interest-only payments.

February 3, 2022

Acquisitions Illinois Industrial Midwest

Clear Height Properties, Harbert Acquire 83,745 SF Industrial Portfolio in Addison, Illinois

by Kristin Harlow February 3, 2022

ADDISON, ILL. — A joint venture between Illinois-based real estate investor Clear Height Properties and Harbert US Real Estate, an investment strategy sponsored by Harbert Management Corp., has acquired an 83,745-square-foot industrial portfolio in Addison, a western suburb of Chicago. The purchase price was not provided. The four buildings are situated along Cortland Court. The portfolio is just over 90 percent leased to a variety of tenants. Erik Foster, Mike Wilson, Adam Haefner, Zeke Rowan and Martin Mikaitis of Avison Young represented the undisclosed seller.

February 3, 2022

Acquisitions Georgia Industrial Southeast

Panattoni Sells Industrial Portfolio in Metro Atlanta for $112M

by Julia Sanders February 3, 2022

ADAIRSVILLE AND CARTERSVILLE, GA. — Panattoni has sold a two-property, Class A industrial portfolio totaling 949,211 square feet in metro Atlanta. Dennis Mitchell, Matt Wirth, Britton Burdette and Jim Freeman of JLL represented Panattoni in the transaction. Affiliates of LXP Industrial Trust acquired the property for $112 million. The portfolio comprises Georgia North Industrial Park Building 100 and Bartow Commerce Center Buildings 1 and 2. Tenants at the properties include Wellmade, Airman USA Corp. and Textron. Both properties have easy access to Interstate 285, Hartsfield-Jackson Atlanta International Airport and the Appalachian Regional Port. Built in 2020, the rear-load Georgia North Industrial Park Building 100 provides 225,211 square feet of multi-tenant space and features tilt-wall construction, 32-foot clear heights, 36 loading positions, 50 trailer parking stalls, ESFR fire protection and LED lighting. Located at 95 International Parkway in Adairsville, the property is situated within one mile of Interstate 75. Constructed in 2021, Bartow Commerce Center Buildings 1 and 2 feature rear-load configurations, clear heights ranging from 32 to 36 feet, 84 dock-high doors, eight grade-level doors with ramps, ESFR fire protection, LED lighting and 161 trailer parking stalls. The buildings are situated at 41 and 51 Busch Drive NE in Cartersville, …

February 3, 2022

Acquisitions Office Texas

Skanska Sells Two Office Buildings in Houston’s Energy Corridor for $147M

by Taylor Williams February 3, 2022

HOUSTON — International developer Skanska has sold West Memorial Place I and II, two office buildings located in Houston’s Energy Corridor submarket, for $147 million. The two-building complex totals approximately 716,000 square feet. West Memorial Place I was completed in 2015, and the sister building was completed in 2016. Amenities include a fitness center, onsite dining options and a connected parking structure. The buyer was a joint venture led by Houston-based Fuller Realty Interests LLC.

February 3, 2022

Development Florida Loans Multifamily Southeast

JLL Secures $72.5M Construction Financing for Residential Development in Tampa

by Julia Sanders February 3, 2022

TAMPA, FLA. — JLL Capital Markets has secured a $72.5 million construction loan for the development of Altura Bayshore, a 73-unit high-rise condominium project in Tampa. Steve Klein, Brian Gaswirth, Reid Carleton and Drew Jennewein of JLL worked on behalf of the developer and borrower, Naples, Fla.-based The Ronto Group, to secure the loan from MSD Partners LP. Slated to be complete by 2024, Altura Bayshore will stand 22 stories high. Community amenities will include a sky deck and pool, fitness center, club and entertainment room, guest suites, multiple sports courts, a synthetic turf putting green, dog park and barbecue grills. Unit features will include private elevator foyers, designer-selected finishes throughout, open terraces and energy-efficient sliding glass windows and doors. Located at 2910 W. Barcelona St. directly off Bayshore Boulevard, the property is situated near SOHO District, Hyde Park Village and the Downtown Tampa Arts District. The property is also located 8.2 miles from the Tampa International Airport.

February 3, 2022

Acquisitions Industrial Texas

Triten Real Estate Buys 100-Acre Outdoor Storage Portfolio in Northeast Houston

by Taylor Williams February 3, 2022

HOUSTON — Triten Real Estate Partners, a development and investment firm with offices in Houston and Dallas, has purchased a portfolio of outdoor storage facilities totaling 100 acres in northeast Houston. The sites are located near Interstates 610 and 10, as well as Union Pacific railyards, and can also support truck parking and drayage users. Andrew Jewett of CBRE represented Triten Real Estate in the transaction. Blake Gibson of Colliers represented the undisclosed seller.

February 3, 2022

Development Georgia Industrial Southeast

Dayton Street Partners Breaks Ground on 212,232 SF Distribution Center in Conyers, Georgia

by Julia Sanders February 3, 2022

CONYERS, GA. — Chicago-based Dayton Street Partners has broken ground on a 212,232-square-foot speculative distribution center in Conyers. Construction is slated for completion by July. The distribution center will feature 32-foot clear heights, 41 trailer and 203 auto stalls with separate access for cars and trucks and a 185-foot truck court. Located at 2020 East Park Road, the property is situated 28.6 miles east of downtown Atlanta and 31.3 miles from Hartsfield-Jackson Atlanta International airport. Dayton Street most recently completed the development of DSP Rock Hill, a 188,000-square-foot distribution center near Atlanta’s airport. Brookfield acquired the asset in December 2021.

February 3, 2022

Development Industrial Texas

Midway to Develop 128,000 SF Industrial Facility for Bluebonnet Nutrition in Sugar Land, Texas

by Taylor Williams February 3, 2022

SUGAR LAND, TEXAS — Houston-based Midway will develop a 128,000-square-foot build-to-suit industrial facility for Bluebonnet Nutrition Corp., a locally based provider of dietary supplements, in the southwestern Houston suburb of Sugar Land. Powers Brown Architecture is designing the project, and D.E. Harvey Builders is the general contractor. Completion is slated for the fourth quarter. Jarret Venghaus of JLL represented Midway in its acquisition of the 7.4-acre site from Houston-based energy firm Baker Hughes.

February 3, 2022

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