Property Type

ZOM Living Completes 491-Unit National Landing Multifamily Complex in Arlington, Virginia

by John Nelson January 17, 2025

ARLINGTON, VA. — ZOM Living has completed construction on Hazel & Azure at National Landing, a 491-unit luxury multifamily complex in Arlington. Balfour Beatty was the general contractor on the project, and bKL Architecture served as the project architect. Situated at 3030 & 3130 S. Potomac Ave., the development comprises two towers — the 15-story Hazel and11-story Azure — as well as 8,900 square feet of ground-floor retail space. Urban Boxing will occupy 4,709 square feet in the Hazel tower, Coffee Republic will occupy 2,006 square feet in Azure and a third tenant will comprise the remaining 2,201 square feet of retail space in the Azure tower. Monthly rental rates at Hazel range from $2,180 to $7,010, and Azure’s rents range from $2,294 to $8,805, according to Apartments.com. Units come in townhome, studio, one-, two- and three-bedroom floor plans that range in size from 516 to 1,852 square feet. Amenities include a rooftop pool, outdoor deck and grilling area, clubroom, fireplace, fitness and wellness spa, yoga room, coworking spaces, a self-serve resident market and a pet spa for dogs. The complex also offers concierge and white glove package delivery services and electric vehicle charging stations.

January 17, 2025

Development District of Columbia Multifamily Southeast

Akridge, National Development Welcome First Residents to 384-Unit Byron Apartment Community in DC

by John Nelson January 17, 2025

WASHINGTON, D.C. — Akridge and National Real Estate Development have begun welcoming residents to The Byron, a 384-unit apartment community in southwest Washington, D.C. The Byron is Phase I of The Stacks, a six-acre mixed-use campus. Upon completion, The Stacks will include 2 million square feet of space, including a hotel, offices, apartments, shops and restaurants. The development team for The Stacks includes Akridge, National Development, Bridge Investment Group, Blue Coastal Capital and institutional funds managed by National Real Estate Advisors. Amenities at The Byron include a 10,000-square-foot Flex gym that features a sauna, recovery room and outdoor workout space, a multi-sport simulator, two rooftop pools, pet spa, serenity garden, TV lounge with an adjoined terrace, chef’s catering kitchen and gathering spaces. Additional conveniences include Capital Bikeshare and bike maintenance stations and an onsite resident market that is scheduled to open this summer, as well as The Passage, a pedestrian-only cobblestone street. According to Apartments.com, the 14-story building offers studios, one-, two- and three-bedroom units ranging in size from 432 to 1,565 square feet. Monthly rents start at approximately $2,230.

January 17, 2025

Acquisitions Industrial Mississippi Southeast

JLL Brokers Sale of 589,000 SF Industrial Portfolio in Metro Memphis

by John Nelson January 17, 2025

SOUTHAVEN AND OLIVE BRANCH, MISS. — JLL Capital Markets has brokered the sale of two distribution centers totaling 589,598 square feet in the Mississippi suburbs of metro Memphis. The properties include Stateline Building K in Southaven and Crossroads Building L in Olive Branch. Tulsa-based real estate firm Sealy & Co. was the buyer. The sales price was not disclosed. Motivational Fulfillment & Logistics Services leases the 347,604-square-foot Stateline K facility, and American Music Supply occupies the 241,994-square-foot Crossroads L property. Both assets feature 32-foot clear heights, ESFR sprinkler systems, parking spaces and flexible layouts to accommodate single or multi-tenant uses. Matt Wirth, Britton Burdette, Dennis Mirtchell and Jim Freeman of JLL represented the seller, IDI Logistics LLC, in the transaction. Jack Wohrman of JLL handles leasing efforts for the property.

January 17, 2025

Industrial Leasing Activity Texas

Cintas Corp. Signs 32,880 SF Industrial Lease in Buda, Texas

by Taylor Williams January 17, 2025

BUDA, TEXAS — Cintas Corp. has signed a 32,880-square-foot industrial lease in Buda, a southern suburb of Austin. The Ohio-based provider of uniforms and cleaning supplies is taking space at Building 6 of Buda Midway, a development whose second phase comprises four buildings totaling 382,000 square feet. Phase II buildings feature 30- to 32-foot clear heights and speculative office space. Leigh Ellis, Blake Patterson and Omar Nasser of AQUILA Commercial represented the landlord, United Properties, in the lease negotiations.

January 17, 2025

Acquisitions Florida Industrial Loans Southeast

Patterson Secures Acquisition Financing for 181,100 SF Industrial Portfolio in Tallahassee

by John Nelson January 17, 2025

TALLAHASSEE, FLA. — Patterson Real Estate Advisory Group has arranged a loan of an undisclosed amount on behalf of Albany Road Real Estate Partners for Capital Circle Commerce Park, a six-building industrial portfolio totaling 181,100 square feet in Tallahassee. Ameris Bank is providing the acquisition loan. The portfolio, which was 99 percent leased at the time of sale, is situated less than 10 miles from the Tallahassee International Airport and includes IOS parking for current tenants as well as any future third-party parking needs.

January 17, 2025

Acquisitions Florida Retail Southeast

Marcus & Millichap Arranges $9.7M Sale of Retail Center in Metro Miami

by John Nelson January 17, 2025

DORAL, FLA. — Marcus & Millichap has arranged the $9.7 million sale of Doral Shops & Professional Center, a retail center located in the western Miami suburb of Doral. Scott Sandelin and Edward Romo of Marcus & Millichap represented the seller and procured the buyer in the deal. Situated at 3655 NW 107th Ave., the multi-tenant property spans 15,314 square feet. Nine tenants are operating on a triple-net leased basis at the property, including South Dental Doral, Doral Physical Therapy, Uni K Wax and Venezuelan restaurant La Coriana.

January 17, 2025

Loans Multifamily New York Northeast

Domain Cos. Receives $218.6M in Financing for Bronx Multifamily Project

by Taylor Williams January 17, 2025

NEW YORK CITY — Locally based developer Domain Cos. has received $218.6 million in financing for Estela, a two-building, 544-unit multifamily project in The Bronx. Located at 414-445 Gerard Ave. in the Mott Haven area, Estela comprises 380 market-rate and 164 affordable apartments, as well as 10,000 square feet of retail space. Residents have access to more than 35,000 square feet of amenities, including a lounge, game room, shared workspace, fitness center with a yoga room, children’s playroom and a dog park. JLL originated the Freddie Mac debt component of the financing, and The Urban Investment Group at Goldman Sachs Alternatives provided the equity component. Estela was 90 percent occupied at the time of closing.

January 17, 2025

Acquisitions Multifamily New York Northeast

Marcus & Millichap Negotiates $94.5M Sale of Manhattan Multifamily Portfolio

by Taylor Williams January 17, 2025

NEW YORK CITY — Marcus & Millichap has negotiated the $94.5 million sale of a portfolio of 13 multifamily properties totaling 147 units in Manhattan. Known as The Chelsea Collection by virtue of its submarket location, the buildings total 98,000 square feet and are located on the west side of the neighborhood between West 19th and West 29th streets. Joe Koicim, Logan Markley, Chris Dintrone and Kory Barbanel of Marcus & Millichap represented the seller, BlackSpruce Management, in the transaction and procured the undisclosed buyer.

January 17, 2025

Acquisitions Massachusetts Multifamily Northeast

CBRE Brokers Sale of 240-Unit Residences at Crosspoint Apartments in Metro Boston

by Taylor Williams January 17, 2025

LOWELL, MASS. — CBRE has brokered the sale of Residences at Crosspoint, a 240-unit apartment complex located in the northern Boston suburb of Lowell. Completed in 2020, the six-story building offers studio, one- and two-bedroom units with an average size of 863 square feet. Amenities include a clubroom, fitness center and a business center. Simon Butler, Biria St. John, John McLaughlin and Brian Bowler represented the seller, a partnership created and operated by SMC Management Corp., in the transaction. The team also procured the buyer, an affiliate of New York City-based Osso Capital.

January 17, 2025

Acquisitions Arizona Development Hospitality Western

LaPour Partners, Holualoa Cos. to Develop 240-Room Dual-Branded Hotel in North Phoenix

by Amy Works January 17, 2025

PHOENIX — LaPour Partners and Holualoa Cos. have acquired land and secured planned approval for a dual-branded AC Hotel by Marriott and Element by Westin hotel within the 100-acre CityNorth master-planned community in north Phoenix. Groundbreaking for the project is planned for this year, with completion slated for January 2027. The eight-story development will feature 240 guest rooms with 5,700 square feet of flexible indoor-outdoor meeting space. The AC Hotel by Marriott will offer 142 guest rooms, and Element by Westin will offer 98 extended-stay guest rooms. Amenities will include a saline pool, AC lounge, Element Rise, outdoor fireplaces, an outdoor barbecue area, suites with balconies, a sundry market, AC Kitchen, guest laundry and EV chargers. LaPour Partners and Holualoa previously partnered on the Marriott AC Biltmore in 2018, which is located on Camelback Road in the Phoenix Biltmore Corridor. Terms of the land acquisition were not released.

January 17, 2025

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