Property Type

AHIB Arranges $2.5M Sale on Section 8 Public Housing Community in Macclenny, Florida

by Julia Sanders March 11, 2021

MACCLENNY, FLA. — Affordable Housing Investment Brokerage Inc. (AHIB) has arranged the sale of Baker Manor Apartments at 680 S 6th St. in Macclenny for just over $2.5 million. Kyle Shoemaker of AHIB represented both the California-based purchaser, The Grey Rock Group, and the undisclosed seller to complete the transaction. Built in 1974, the 50-unit Baker Manor features 12 one-bedroom, 26 two-bedroom and 12 three-bedroom units. Rents in the building range from $655 to $924 per month. Amenities include a playground, pool that underwent renovations in 2018, a laundry facility, community room and an onsite management office. Baker Manor is located close to Interstate 10. The community currently has a waiting list of approximately three years.

March 11, 2021

Development Multifamily Texas

KBS, Southern Land Complete 309-Unit Apartment High-Rise in Dallas

by Taylor Williams March 11, 2021

DALLAS — A joint venture between California-based KBS and Nashville-based Southern Land Co. has completed Novē at Knox, a 309-unit apartment high-rise building in the Knox-Henderson area of Dallas. The location at 3031 Oliver St. puts the 19-story building adjacent to the Highland Park and Turtle Creek neighborhoods. The property offers a variety of different floor plans and amenities such as a pool deck with fitness terrace, community lounge, business center, recreation room, fitness center with yoga studio, concierge service, 465-space parking garage and valet parking. Southern Land designed the property and will also manage it.

March 11, 2021

Development Industrial South Carolina Southeast

Frampton Construction Completes 189,500 SF Building at Portside Distribution Center in Metro Charleston

by Julia Sanders March 11, 2021

SUMMERVILLE, S.C. — Frampton Construction Co. LLC has completed a 189,500-square-foot industrial building in Summerville. The Class A speculative facility, developed by Randolph Development, is the first of two heavy industrial buildings that will comprise Portside Distribution Center. Plans on the second building are currently underway, and Randolph expects to break ground later this spring. The new Portside Distribution Center building, located near Interstate 26, is meant for a variety of end users including logistics companies, aerospace and automotive suppliers, defense contractors, light manufacturers and last-mile distributors. With 32-foot clear heights, the facility features structural steel and load-bearing concrete tilt walls. The building is divisible to 28,944 square feet and features 33 dock doors and two drive-in doors. Thomas & Hutton provided site, civil and landscape design for the 31-acre development, while McMillan Pazdan Smith provided architectural design. Colliers International is handling the leasing of the property. Construction was completed in December 2020.

March 11, 2021

Development Retail Texas

Baker Katz Breaks Ground on 163,518 SF Retail Project in Brenham, Texas

by Taylor Williams March 11, 2021

BRENHAM, TEXAS — Houston-based development and leasing firm Baker Katz has broken ground on Brenham Crossing, a 163,518-square-foot retail project in Brenham, located about 75 miles northwest of Houston. Baker Katz is developing the property, which spans 50 acres at the intersection of U.S. Highway 290 and Chappell Hill Road, in partnership with the City of Brenham. Retailers including Hobby Lobby, Marshalls, Five Below, PetSmart and Burkes Outlet have already signed leases at the center, which is scheduled to open in 2022.

March 11, 2021

Development Healthcare Texas

McCarthy, Crowther Deliver 40,000 SF Healthcare Facility in Dallas

by Taylor Williams March 11, 2021

DALLAS — A joint venture between McCarthy Buildings Cos. and The Crowther Group has completed construction of the 40,000-square-foot Parkland Health & Hospital System’s Moody Center for Breast Health in Dallas. The outpatient clinic provides services such as surgical oncology, plastic surgery, imaging, infusion and physical therapy. The facility occupies the first floor of a 500,000-square-foot medical office building.

March 11, 2021

Acquisitions Multifamily Texas

Wellington Realty Arranges Sale of 56-Unit Pioneer Valley Apartments in Irving

by Taylor Williams March 11, 2021

IRVING, TEXAS — Wellington Realty has arranged the sale of Pioneer Valley, an apartment complex in Irving that was built in 1983. According to Apartments.com, the property totals 56 units and offers amenities such as a clubhouse, picnic area and onsite laundry facilities. David Shaffer, Caleb Jones, Will Miller and Troy Sanders of Wellington Realty brokered the deal for the value-add property, which was 94 percent occupied at the time of sale. The buyer and seller were not disclosed.

March 11, 2021

Company News Northeast Pennsylvania Retail

Dick’s Sporting Goods Reports 19.3 Percent Sales Growth in Fourth Quarter, 9.3 Percent for 2020

by Taylor Williams March 11, 2021

PITTSBURGH — Dick’s Sporting Goods (NYSE: DKS) reported 19.3 percent growth in same-store sales for its fiscal fourth quarter, which ended on Jan. 30, 2021, as well as a record-setting 9.3 percent sales growth for the full year 2020. In addition to posting healthy sales within its brick-and-mortar stores as customers sought home workout equipment in lieu of visiting gyms amid the COVID-19 pandemic, the Pittsburgh-based retailer also reported year-over-year growth of 100 percent across its online sales platform. E-commerce sales increased by 57 percent alone in the fourth quarter, though this figure represents a decline from the 95 percent growth in e-commerce sales that Dick’s Sporting Goods posted in its fiscal third quarter. The company recorded quarterly net sales of approximately $3.1 billion, nearly a 20 percent increase from the fourth quarter of 2019. Dick’s Sporting Goods also opened a number of new stores in 2020 in markets such as Houston, San Antonio, Atlanta, Cape Cod and metro Boston and now operates about 730 stores throughout the country. The company’s stock price opened at $72 per share on Thursday, March 11, up from $30.56 per share a year ago. “We’ve never had a year quite like 2020,” said Ed …

March 11, 2021

Development Multifamily New Jersey Northeast

Woodmont Begins Leasing 443-Unit Apartment Community in West Windsor, New Jersey

by Taylor Williams March 11, 2021

WEST WINDSOR, N.J. — New Jersey-based developer Woodmont Properties has begun leasing Woodmont Way, a 443-unit multifamily community in West Windsor, located just outside of Trenton. The property offers one, two- and three-bedroom units that are all equipped with private balconies or patios. Amenities include a fitness and yoga studio, game room, golf simulator, theater room and a heated pool, as well as pickleball and bocce courts. The pet-friendly community also features a bark park and an indoor pet spa. The first move-ins are scheduled to begin this summer.

March 11, 2021

Acquisitions Industrial New Jersey Northeast Self-Storage

Insite Property Group Acquires Self-Storage Facility in Piscataway, New Jersey

by Taylor Williams March 11, 2021

PISCATAWAY, N.J. — Insite Property Group has acquired Statewide Self Storage, a facility located in the Northern New Jersey city of Piscataway. The property is situated on three acres and features 66,000 net rentable square feet of drive-up and interior space across more than 600 units. Insite plans to implement a renovation that will deliver new signage, a revamped facade, improved lighting and fresh landscaping and paint jobs. The new ownership will also operate the property and rebrand it as SecureSpace Stelton. The seller was not disclosed.

March 11, 2021

Development Illinois Midwest Office

Discover to Open Customer Care Center in Chicago’s Chatham Neighborhood

by Kristin Harlow March 11, 2021

CHICAGO — Discover has unveiled plans to open a customer care center in Chicago’s Chatham neighborhood. The property is a former big-box retail center and Discover will work with DL3 Realty to redevelop it. Target Corp. sold the vacant site to DL3. Once fully operational, the center will provide nearly 1,000 full-time jobs to the area. Most of the positions will be for customer care representatives. The 100,000-square-foot project will feature more than 500 car parking spots. Completion is slated for the end of this year. The Riverwoods, Ill.-based credit card company has called the Chicago area home for more than 30 years and employs more than 18,000 people. Discover opened a satellite office downtown three years ago.

March 11, 2021

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