Property Type

Marcus & Millichap Brokers $20.1M Sale of Airport Place Apartments in Clarksville, Tennessee

by John Nelson January 22, 2025

CLARKSVILLE, TENN. — Marcus & Millichap has brokered the $20.1 million sale of Airport Place Apartments, a 121-unit multifamily community located on an eight-acre site near Clarksville Regional Airport and Fort Campbell. Charlie Smith of Marcus & Millichap procured the buyer, Mastermind Multifamily Investments, in the transaction. Gloria Gregory of Marcus & Millichap’s Knoxville office represented the seller, Todd Morris of Morris Properties. Jody McKibben served as Marcus & Millichap’s broker of record in Tennessee for the deal. Built in 2023, Airport Place features onsite property management and units include smart security systems, eat-in kitchens, washers and dryers and walk-in closets.

January 22, 2025

Acquisitions Healthcare Southeast Tennessee

Cypress West, TPG Angelo Gordon Acquire 47,000 SF Medical Office Building in Franklin, Tennessee

by John Nelson January 22, 2025

FRANKLIN, TENN. — A joint venture between Cypress West Partners and TPG Angelo Gordon has purchased Cool Springs Professional Center, a 47,000-square-foot medical office building located at 2001 Mallory Lane in Franklin, a suburb of Nashville. The seller and sales price were not disclosed. Built in 1996, the property’s tenant roster includes Vanderbilt University Rheumatology and Results Physiotherapy, among other medical practitioners that collectively have a weighted average lease term (WALT) of 4.9 years. Cool Springs Professional Center represents the first Tennessee acquisition and eighth purchase overall for the Cypress West-TPG Angelo Gordon joint venture, which seeks to acquire up to $300 million in medical office assets in West Coast and Sun Belt markets.

January 22, 2025

Georgia Leasing Activity Mixed-Use Restaurant Retail Southeast

Five New Tenants Join Atlantic Station Roster in Midtown Atlanta

by John Nelson January 22, 2025

ATLANTA — Five new retailers and restaurants have joined the tenant roster at Atlantic Station, a 138-acre mixed-use development in Midtown Atlanta. Houston-based Hines, which has owned the retail portion of the property since 2015, recently signed donut and desserts eatery Yonutz; cookie concept Munster Cravings; candle-making experiential retailer Candleporium Fragrance House; and car wash and detailing shop Dirty Horse Paint Protection and Auto Detailing to the lineup. Additionally, Lucky Strike Entertainment has backfilled and rebranded Atlantic Station’s Bowlero bowling alley. Opened in 2005, Atlantic Station features 523,511 square feet of retail, entertainment and restaurant space; 2 million square feet of Class A office space, including offices for Microsoft; two full-service hotels; multiple apartments, lofts and luxury condo residences; and freestanding IKEA, Target and Dillard’s stores.

January 22, 2025

Acquisitions Industrial Texas

Baltisse, Ackerman Sell 307,000 SF Industrial Project Near San Antonio

by Taylor Williams January 22, 2025

SCHERTZ, TEXAS — Atlanta-based developer Ackerman & Co., in partnership with Baltisse US Inc., has sold Doerr Lane Logistics Center, a 307,000-square-foot industrial project in Schertz, a northeastern suburb of San Antonio. Completed in August 2023, the Class A, tilt-wall distribution center features 32-foot clear heights, 78 overhead dock doors, an ESFR sprinkler system and parking for 318 automobiles and 96 trailers. Trent Agnew, Kyle Mueller and Witt Westbrook of JLL represented the partnership in the sale. The buyer was not disclosed. Doerr Lane Logistics Center was fully leased at the time of sale to MEI Rigging & Crating (191,297 square feet) and Quality Custom Distribution (115,703 square feet).

January 22, 2025

Acquisitions California Mixed-Use Western

DJM Sells Stake in Bella Terra Mixed-Use Development in Huntington Beach, California

by Amy Works January 22, 2025

HUNTINGTON BEACH, CALIF. — DJM Capital Partners has sold its ownership stake of Bella Terra, a 1 million-square-foot mixed-use development in Huntington Beach. DJM has managed and co-owned the property since 2005. The property is now fully owned by PGIM Real Estate, DJM’s long-term partner in Bella Terra. Terms of the deal were not disclosed.

January 22, 2025

California Development Multifamily Student Housing Western

Gilbane Begins Development of 485-Bed Student Housing Community Near UC Berkeley

by Amy Works January 22, 2025

BERKELEY, CALIF. — Gilbane Development Co. has broken ground on Pique, a 485-bed student housing project located at 2587 Telegraph Ave. near the University of California (UC) Berkeley campus. The eight-story community will offer 52 units with bed-to-bath parity. Shared amenities will include an indoor and outdoor fitness center and yoga studio, outdoor study space, a cabana area, two rooftop decks, a coworking lounge, smart food lockers, private study pods and 2,900 square feet of ground-floor retail space. The project will begin leasing in fall 2025 with occupancy scheduled for summer 2026. The development site was formerly occupied by retailer Buffalo Exchange. “We are focused on making every inch count with efficiency, privacy and functionality at the core of the design, driving innovation that caters to the needs of Berkeley students at an affordable price point,” says Christian Cerria, development director with Gilbane.

January 22, 2025

CapRock-West-202-Logitsics-Ph2-Phoenix-AZ

Arizona Development Industrial Western

CapRock Partners Breaks Ground on 825,000 SF Spec Industrial Project in Phoenix

by Amy Works January 22, 2025

PHOENIX — CapRock Partners has broken ground on CapRock West 202 Logistics Phase II, the 820,000-square-foot final phase of a speculative industrial development on 43 acres in southwest Phoenix. Sitework began in January on Phase II with project completion slated for November. Upon completion, CapRock West 202 Logistics Phase II will feature a 301,771-square-foot Building F, 295,586-square-foot Building G and 227,107-square-foot Building H. The properties will offer clear heights ranging from 32 feet to 36 feet. Buildings F and G will feature 47 dock-high doors, and Building H will include 45 dock-high doors. All Phase II buildings will feature four drive-in ramp doors and speculative office suites, R-38 warehouse roofs, R-11 warehouse wall insulation, full-building HVAC, LED lighting in the warehouse, dock-high load levelers and ample parking. Payson MacWilliam and Don MacWilliam of Colliers are handling leasing efforts for CapRock West 202 Logistics. At total project completion, CapRock West 202 Logistics will consist of 3.4 million square feet of Class A industrial warehouse space on 183 acres. CapRock completed Phase I, which includes approximately 2.5 million square feet of Class A industrial warehouse space across five buildings on 140 acres, in July 2023.

January 22, 2025

Parts-Town-Fulfillment-Center-Glendale-AZ

Arizona Development Industrial Western

Stevens-Leinweber Delivers 420,536 SF Global Fulfillment Center for Parts Town in Glendale, Arizona

by Amy Works January 22, 2025

GLENDALE, ARIZ. — Phoenix-based Stevens-Leinweber Construction has completed the Global Fulfillment Center, within C|303 industrial park in Glendale, for Illinois-based Parts Town Unlimited. The new facility is Parts Town’s first location in the Southwest and its largest and most technologically advanced U.S. fulfillment center to date. Parts Town works in the high-tech distribution of original equipment manufacturer (OEM) foodservice equipment parts, residential appliance parts, HVAC parts, consumer electronic parts and related products. Global Fulfillment Center spans 420,536 square feet, occupying all of Building B at C|303 Phase I, a 1.7 million-square-foot industrial development by Merit Partners. The Parts Town facility features a 30,000-square-foot robotic Autostore system, a 42,000-square-foot mezzanine system, expanded battery charging capabilities for 24 forklifts, an automated material handling conveyor system running throughout the warehouse and two trucker’s lounges with dedicated restrooms. C|303 Phase I was designed and constructed by SLC and Butler Design Group as a speculative three-building development. Each building features a clear height of 40 feet, 20 dock-high and drive-in ramp doors, up to 70-foot speed bats, 8-inch reinforced floors and secured and expansive parking for autos and trailers. Additionally, all buildings offer LED lighting, insulated systems to maximize heating and cooling efficiencies and are Foreign …

January 22, 2025

Acquisitions Colorado Healthcare Western

Profere Partners Disposes of 104,438 SF Longmont Medical Campus in Colorado

by Amy Works January 22, 2025

LONGMONT, COLO. — Broomfield, Colo.-based Profere Partners has completed the disposition of Longmont Medical Campus, a medical outpatient building located at 1551 Professional Lane in Longmont. Terms of the transaction were not released. Originally built in 2002 and most recently renovated in 2022, the two-story multi-tenant facility offers 104,438 square feet of medical office space. At the time of sale, the property was 92 percent leased to 19 tenants, anchored by University of Colorado Medicine. Aaron Johnson, Travis Ives, Jon Hendrickson, Mitch Veremeychik, Gino Lollio and Tyler Morss of Cushman & Wakefield represented the seller in the deal.

January 22, 2025

Civic Development Midwest Minnesota

Kraus-Anderson Completes $58M Police, Public Works Facility in Rosemount, Minnesota

by Kristin Harlow January 22, 2025

ROSEMOUNT, MINN. — Kraus-Anderson has completed construction of a $58 million police and public works facility for the City of Rosemount in Minnesota. The 20-acre project is located at 14041 Biscayne Ave. Designed by BKV Group and Oertel Architects, the 172,200-square-foot development features three buildings, including a 160,101-square-foot police department and public works facility, a 7,400-square-foot cold storage building and a 4,800-square-foot salt storage building. The 48,718-square-foot police department features a squad garage for 35 vehicles, an office with a storm shelter, holding rooms and a six-lane gun range. The 111,383-square-foot public works facility includes a vehicle storage bay for 17 plow trucks and 57 vehicles, an office, wash bay and maintenance areas. Construction began in June 2023.

January 22, 2025

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