Property Type

Midway, GrayStreet Unveil Plans for Lone Star District Mixed-Use Project in San Antonio

by Taylor Williams March 8, 2021

SAN ANTONIO — Houston-based developer Midway and private equity firm GrayStreet Partners have unveiled plans for Lone Star District, a mixed-use project in San Antonio that will be a redevelopment of the former Lone Star Brewery site. The site borders the San Antonio River and is located roughly 1.5 miles from the downtown area. Plans for Phase I of the 32-acre development call for 250 multifamily units, 100,000 square feet of office space and 50,00 square feet of retail, restaurant and entertainment space. Project partners include master-plan architects Lake|Flato and OJB Landscape Architecture, as well as civil engineer WGI Engineers. Phase I is expected to be complete in 2025.

March 8, 2021

Acquisitions Georgia Restaurant Retail Southeast

RRI Acquires Whole Foods-Anchored Shopping Center in Savannah for $24.7M

by Julia Sanders March 8, 2021

SAVANNAH, GA. — New York-based Rothenberg-Rosenfield Inc. (RRI) has acquired Victory Station, a 64,164-square foot, Whole Foods Market-anchored shopping center situated at the corner of Harry S. Truman Parkway and Victory Drive in Savannah. RRI purchased the property from Clarion Partners for $24.7 million. Built in 2013, Victory Station is currently 96 percent leased with only one available space. The Whole Foods is the retailer’s only location in Savannah and one of only two specialty grocery stores in the entire trade area. The shopping center’s other national tenants include PetSmart, Chipotle Mexican Grill, T-Mobile and Zoe’s Kitchen. RRI is engaging Colliers International to lease and manage the property.

March 8, 2021

Development Multifamily Texas

NRP Group Breaks Ground on 300-Unit Mixed-Income Housing Project in Princeton, Texas

by Taylor Williams March 8, 2021

PRINCETON, TEXAS — The NRP Group, a Cleveland-based developer, has broken ground on Princeton Crossroads, a 300-unit mixed-income housing project that will be located about 40 miles northeast of Dallas. Princeton Crossroads is being developed in partnership with Texoma Housing Partners and will consist of one-, two- and three-bedroom units ranging in size from 610 to 1,320 square feet. Fifty percent of the units will be reserved for residents earning less than 80 percent of the area median income (AMI). Amegy Bank provided construction financing. Leasing is expected to begin in spring 2022, with full completion slated for fall 2022.

March 8, 2021

Acquisitions Multifamily South Carolina Southeast

Berkadia Arranges $49.8M Sale of Two Multifamily Properties in Greenville

by Julia Sanders March 8, 2021

GREENVILLE, S.C. — Berkadia has arranged the $49.8 million sale of The Park at Sorrento and The Park at Toscana, two multifamily properties located in Greenville. Mark Boyce and Blake Coffey of Berkadia completed the transaction on behalf of the seller, an undisclosed entity, and the buyer, Nebraska-based Foundation for Affordable Housing. The Park at Sorrento is located at 660 Halton Road. The 242-unit property features one- and two-bedroom floor plans with in-unit washers and dryers. Community amenities include a swimming pool, a fitness center, a clubhouse and a tennis court. The community is close to the shops and restaurants along Laurens Road and downtown Greenville. The Park at Toscana is a 172-unit property located at 2900 E North St. featuring one-, two- and three-bedroom floor plans with private balconies and air conditioning. Community amenities include a fitness center, a business center, a swimming pool and a TV lounge. The property is close to the Haywood Mall and Interstate 385.

March 8, 2021

Acquisitions Multifamily Texas

Marcus & Millichap Arranges Sale of 220-Unit Fielder’s Glen Apartments in Arlington

by Taylor Williams March 8, 2021

ARLINGTON, TEXAS — Marcus & Millichap has arranged the sale of Fielder’s Glen, a 220-unit apartment community in Arlington. The property consists of 15 buildings on a 10.5-acre tract. Amenities include a pool, fitness center, clubhouse, laundry facilities and a courtyard. Al Silva of Marcus & Millichap represented the seller, a Colorado-based partnership, and procured the buyer, a private investment company based in Canada. The new ownership plans to implement a multimillion-dollar renovation.

March 8, 2021

Development Georgia Healthcare Southeast

Remedy Medical Delivers 113,000 SF Piedmont Healthcare Medical Building in Newnan, Georgia

by Julia Sanders March 8, 2021

NEWNAN, GA. — Remedy Medical Properties has developed Piedmont Medical Plaza II, a five-story, 113,000-square-foot outpatient facility located on the Piedmont Newnan Hospital campus in Newnan. Construction of the medical office building began in September 2019 and is now open to the public. Located at 795 Poplar Road, Piedmont Medical Plaza II is close to Interstate 85 and is approximately 29 miles from Hartsfield-Jackson Atlanta International Airport. The facility offers parking for patients, physicians and staff. The medical office building will offer healthcare services including cardiology, cardiovascular imaging, cardiac and pulmonary rehab, general surgery, neurology, orthopedics, physical therapy and occupational therapy. Atlanta-based Carter assisted in the site selection, local permitting and construction oversight. West Point, Ga.-based Batson-Cook Construction was the general contractor, and Nashville-based ESa was the architect. Remedy owns and will manage the facility, as well as provide strategic planning, development and leasing services. Some tenant space still remains for leasing in the new medical building.

March 8, 2021

Acquisitions Industrial Texas

Moody Rambin Brokers Sale of 135,296 SF Warehouse in East Houston

by Taylor Williams March 8, 2021

HOUSTON — Moody Rambin has brokered the sale of a 135,296-square-foot warehouse located on eight acres at 5800 Clinton Drive in East Houston. According to LoopNet Inc., the single-tenant property was built in 1947 and renovated in 2007. Building features include 20- to 24-foot clear heights and 12 dock-high doors. Zack Taylor of Moody Rambin represented the locally based seller in the transaction. The buyer was self-represented. Both parties requested anonymity.

March 8, 2021

Industrial Leasing Activity Texas

Exegistics Government Solutions Signs 59,517 SF Industrial Lease Renewal in West Dallas

by Taylor Williams March 8, 2021

DALLAS — Exegistics Government Solutions, a third-party logistics firm, has signed a 59,517-square-foot industrial lease renewal at Turnpike Distribution Center 4, located at 2130 French Settlement Road in West Dallas. According to LoopNet Inc., the property spans 312,188 square feet on 11.5 acres. Sean Smith and Jade Scott of Whitebox Real Estate represented the tenant in the lease negotiations. Carter Crow of Younger Partners represented the undisclosed landlord.

March 8, 2021

Development Georgia Multifamily Southeast

PointOne Holdings, Residential Group to Develop 256-Unit SODO Apartments in Duluth, Georgia

by Julia Sanders March 8, 2021

DULUTH, GA. — South Florida-based PointOne Holdings has partnered with Atlanta-based The Residential Group to develop SODO, a 256-unit multifamily residential community at 3256 Buford Highway in Duluth, a northeastern suburb of Metro Atlanta. First units are slated to be delivered in the summer of 2022. SODA will include four-story buildings, with a clubhouse, business center, cyber café and coworking space. Community amenities will include a pool with a fire pit and grilling areas, fitness center, dog park and a pet spa. The property will also include finishes such as stone countertops, designer cabinetry, stainless steel appliances and hardwood-style flooring. PointOne and The Residential Group recently closed the site acquisition and financing for the project. Construction will soon be underway, with first units expected to come on line in summer 2022.

March 8, 2021

Development New York Northeast Retail

Marx Realty Breaks Ground on 130,000 SF Retail Project for Target in Yonkers

by Taylor Williams March 8, 2021

YONKERS, N .Y. — Marx Realty, a division of Merchants National Properties, has broken ground on a 130,000-square-foot project for Target in the New York City suburb of Yonkers. The store will be located at the site of a former Sears that closed in 2019 within Cross County Center, a 1.1 million-square-foot open-air shopping and dining destination. In addition to Target, H&M recently signed a long-term renewal for its 28,000-square-foot space that is currently undergoing a $5 million remodeling. Target, which has committed to a 40-year lease, expects to open its new store in 2022.

March 8, 2021

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