Property Type

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

Development Illinois Midwest Multifamily

Summit Design + Build Completes Adaptive Reuse of Former Sears Store in Chicago into Apartments

by Kristin Harlow March 8, 2021

CHICAGO — Summit Design + Build has completed the adaptive reuse of a former Sears department store in Chicago’s Ravenswood neighborhood. The Sears store opened in 1925 and permanently closed in 2016. Summit transformed the property into 59 apartment units with first-floor commercial space. DeVry University occupies 90 percent of the available commercial space. Floor plans range from one- to three-bedroom units. CA Ventures and Springbank Capital Advisors served as developers. Gillespie Design Group was the project architect.

March 8, 2021

Acquisitions Midwest Missouri Multifamily

Hudson Equities Acquires 301-Unit Apartment Community in Kansas City

by Kristin Harlow March 8, 2021

KANSAS CITY, MO. — Hudson Equities Management Corp. has acquired The Reserve at South Pointe in Kansas City for an undisclosed price. The 301-unit apartment community is located at 8900 Old Santa Fe Road. The property is spread across 17 buildings and floor plans vary from one- to three-bedroom units. Amenities include a pool, fitness center, business center and dog park. Built in 1972, the community has undergone substantial capital improvements over the past four years. All units have received new appliances, countertops, flooring, lighting, hardware and paint. Max Helgeson, Michael Spero and Jeff Stingley of CBRE’s Kansas City multifamily team represented the private seller. The sale represents New Jersey-based Hudson’s first acquisition in the Kansas City area.

March 8, 2021

Indiana Leasing Activity Midwest Restaurant Retail

Chicken Salad Chick Makes Debut in Central Indiana

by Kristin Harlow March 8, 2021

INDIANAPOLIS — Chicken Salad Chick is slated to open at Pyramid Place Shopping Center in Indianapolis on Tuesday, March 16. This is the first of four company-owned restaurants to open in central Indiana. Additional locations are scheduled to open in Fishers, Glendale and Greenwood. The Indianapolis restaurant will feature a drive-thru in addition to dine-in, carryout, delivery and curbside pickup options. In addition to its various chicken salad flavors, Chicken Salad Chick serves salads, sides and soups. The company was founded in Auburn, Ala. in 2008.

March 8, 2021

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