OKLAHOMA CITY — Tampa-based brokerage firm SkyView Advisors has negotiated the sale of the Shepherd & Mustang Portfolio, a self-storage portfolio in the Oklahoma City area that consists of two properties totaling 145,115 net rentable square feet across 978 units. Scott Schoettlin and Ryan Clark of SkyView Advisors represented the seller, a locally based limited liability company, in the transaction. The buyer is a Texas-based developer that is considering vertically expanding the facilities with climate-controlled space.
DALLAS — A partnership between global investment firm KKR and San Antonio-based development and management firm Kairoi Residential has acquired Nove at Knox, a 310-unit apartment community in the Knox-Henderson area of Dallas. The sellers, California-based KBS and Tennessee-based Southern Land Co., completed the 19-story building earlier this year. Units are furnished with floor-to-ceiling windows, luxury finishes and individual washers and dryers. The amenity package features a pool, fitness center, business center, dog park and outdoor recreation spaces. Kairoi Residential will also manage the property.
LAKE WORTH, TEXAS — Georgia-based Flournoy Development Group and South Florida-based PointOne Holdings are underway on construction of Neuhaus, a 288-unit apartment community in Lake Worth, a northwestern suburb of Fort Worth. The property will consist of 12 three-story buildings, 48 detached garages and 48 carports on a 14.9-acre site. Amenities will include a pool, fitness center, outdoor grilling stations, clubhouse with gaming areas and multiple dog parks. HEDK is the project architect, and Strategic Construction is the general contractor. Flournoy Properties Group will manage the community. Completion is scheduled for fall 2022.
MIAMI — Housing Trust Group (HTG) has opened Max’s Landing Apartments, a 76-unit affordable housing community located in the West Kendall neighborhood of Miami. The development cost was $25 million. Located at 8905 SW 169th Court, Max’s Landing Apartments is a three-story building with 56 one-bedroom, one-bath units and 20 two-bedroom, two-bath units. The property has 11,388 square feet of retail space on the ground floor, and residential units on the second and third floors. Units range in size from 688 square feet to 1,108 square feet, and feature washer and dryer hook-ups, wide plank flooring and balconies. Community amenities include an elevator, clubroom with a kitchen and lounge seating, fitness center, business and computer room, community garden, smart storage lockers, electric car charging stations and bicycle racks. Apartments at Max’s Landing are reserved for residents earning between 30 and 80 percent of area median income (AMI), with monthly rent for qualifying residents ranging from $401 to $1,443. HTG purchased the 2.7-acre site in March 2019 and broke ground on the project in Feb. 2020. Earlier this year, the developer began leasing the property, and Max’s Landing is already fully leased. The project team includes Modis Architects, HSQ Engineers and …
MESQUITE, TEXAS — Weitzman has brokered the sale of a 73,872-square-foot retail building located on a 9.2-acre site at 3677 W. Emporium Circle in the eastern Dallas suburb of Mesquite. The undisclosed buyer will use the freestanding building, which previously housed an Academy Sports + Outdoors, as a showroom and warehouse for wholesale nail salon supplies. Cameron Mai of Weitzman represented the buyer in the deal. Mason Bishop of Transwestern represented the seller, a Houston-based partnership.
LAWRENCEVILLE, GA. — Zach Taylor of the Taylor-McMinn Retail Group, a team within Marcus & Millichap’s Institutional Property Advisors (IPA) division, has brokered the $12.6 million sale of Village Shoppes at Creekside, a 98,859-square-foot shopping center in Lawrenceville. The shopping center is located at 860 Duluth Highway in Gwinnett County, about 31.6 miles from downtown Atlanta. The tenant roster at Village Shoppes at Creekside includes Badcock Furniture and Harbor Freight Tools. Taylor represented the seller, Lamar Cos., in the transaction. Azad Commercial Realty Services, a Houston-based private investor, purchased the property. “The demand for well-located retail centers is as high as it has ever been,” says Taylor. “The last three retail centers we have sold had money day one with pricing that exceeded the seller’s expectations. The increased demand, limited supply, low interest rates and the yield spread over other asset classes has created the best environment for selling retail in the past 20 years.”
SAN ANTONIO. — Atlanta-based investment firm Ackerman & Co. has acquired One Medical Park, a 34,164-square-foot medical office building in San Antonio. The property houses tenants that provide pathology, dermatology and family medicine services, among others. Scott Herbold, Michael Dewey, Amber Austin and Ashlee Wells of CBRE represented the undisclosed seller in the transaction. Ackerman plans to remodel the entire building.
MIAMI — JLL has arranged an office lease for Reed Smith, an international law firm, for 22,495 square feet within Southeast Financial Center in downtown Miami. Barbara Liberatore Black and Jeff Gordon of JLL represented Reed Smith in the lease negotiations. Eric Groffman and Cameron Tallon, also with JLL, represented the landlord, Ponte Gadea Biscayne. Reed Smith, which is moving from Miami’s Brickell district, will be located on the 26th floor of Southeast Financial Center. The law firm first came to Miami in 2017 and now has 30 offices worldwide. The firm’s Miami office is home to lawyers whose practices focus on commercial disputes, entertainment and media, finance, insurance recovery and international arbitration. Situated in Miami’s central business district (CBD), Southeast Financial Center spans 1.2 million square feet and 55 stories, making it the city’s largest office tower, according to JLL. The office tower features a 30,000-square-foot outdoor plaza and café and dining options. The tower is situated less than a mile from Interstate 95.
SUWANEE, GA. — Stan Johnson Co. has arranged the sale of Suwanee Celebration Village, a 14,388-square-foot shopping center in Suwanee. Jeff Enck, Brian Lane and Emery Shane of Stan Johnson Co. represented the seller, a locally based group of private investors. A McDonough, Ga.-based individual investor acquired the property for more than $5.1 million. Built in 2019, Suwanee Celebration Village is fully leased to seven tenants including Verizon Wireless and ATI Physical Therapy. More than half of the property’s tenants operate on 10-year leases. Located at 2780 West Village Drive, the center is situated about 34.4 miles north of downtown Atlanta in Gwinnett County.
GARDEN CITY, GA. — Blaze Capital Partners has acquired Tapestry Park, a 232-unit multifamily community in Garden City, about 8.3 miles from Savannah. Completed in September, Tapestry Park offers one-, two- and three-bedroom floorplans going up to 1,132 square feet. The property includes five, three-story buildings and two, four-story buildings. Community amenities include a pool, fitness center, clubhouse, courtyard and a playground. Located at 100 Town Center Drive, Tapestry Park has access to Highway 16 and is situated within the Garden City Town Center development, which includes a three-block perimeter with City Hall. Additionally, the property is situated about 7.2 miles from an Amazon distribution center, 9.6 miles from the Port of Savannah and 7.5 miles from Savannah College of Art and Design (SCAD).