Property Type

2209 Sulphur Spring Road Industrial Facility

JLL Secures Acquisition Financing for 313,000 SF Industrial Facility in Baltimore

by Julia Sanders March 1, 2021

BALTIMORE — JLL Capital Markets has secured acquisition financing for a fully leased, 313,000-square-foot infill warehouse at 2209 Sulphur Spring Road in Baltimore near Interstates 95 and 695. Jay Wellschlager, Bruce Strasburg, Craig Childs and Elizabeth Runge of JLL represented the seller, The O’Donnell Group, in the transaction. Paul Spellman of JLL secured acquisition financing on behalf of the new owner, Aminim Group. The property price was not disclosed. Located 7.5 miles from Baltimore/Washington International Thurgood Airport, the property features approximately one acre of fenced storage, heavy power, security, 35 loading docks and the potential for 56 trailer drops. Tenants of the industrial facility include Liberty Tire Recycling and Indusco Wire Rope & Fittings. Since 2013, the property received about $6.5 million of capital improvements, including a new roof, T5 and LED lighting, dock seals, 35,000-pound levers, façade accents and two new bridges. In 2018, the O’Donnell Group reached out to Dave Dannenfelser and Tyler Boykin of JLL to lease the property, which was purchased in December 2017 with a pending full-building vacancy. Within 12 months, the team brought the vacant warehouse to full occupancy with an average lease term of more than seven years. The O’Donnell Group is a …

March 1, 2021

Acquisitions Florida Industrial Southeast

Bruner Group Arranges $17M Sale of Former Sam’s Club in Lake Worth Beach, Florida

by Julia Sanders March 1, 2021

LAKE WORTH BEACH, FLA. — Bruner Group has arranged the sale of a 135,268-square-foot warehouse at 7233 N. Seacrest Blvd. in Lake Worth Beach. Alliance 7233 Seacrest LLC bought the 15.8-acre property, which previously housed a Sam’s Club. In 2019, the seller, 7233 Seacrest Boulevard LLC, originally bought the property for $13 million, and sold the property this year for $17 million. The former Sam’s Club building features 22- to 27-foot clear heights, dock and grade loading, heavy power, 800-plus parking space, natural gas and air conditioning. The property is located off Interstate 95 at Hypoluxo Road in central Palm Beach County. Alliance 7233 Seacrest LLC, an affiliate of Pennsylvania-based Alliance Partners HSP, is an owner and developer of industrial, office and mixed-use real estate. Bruner Group is a commercial real estate agency based in Delray Beach, Fla.

March 1, 2021

Georgia Leasing Activity Restaurant Retail Southeast

Branch Properties Signs New Retailers to Join Perimeter Marketplace in Dunwoody, Georgia

by Julia Sanders March 1, 2021

DUNWOODY, GA. — Branch Properties has signed several new restaurants and healthcare tenants at Perimeter Marketplace in Dunwoody. The upcoming Publix-anchored development, located on Ashford-Dunwoody Road, is expected to open this October. The new tenants at Perimeter Marketplace will include burger chain BurgerFi, salad restaurant chain Chop’t, Panda Express, Aspen Dental, One Medical and First Watch, a daytime café. Perimeter Marketplace will also include a QuikTrip gas station. Upon completion, Perimeter Marketplace will feature 68,077 square feet of retail and restaurant space. In the summer of 2020, Publix signed on to occupy a 25,147-square-foot space. Following these recent lease deals, the center is currently 77 percent preleased. Atlanta-based Branch Properties LLC is a private real estate investment firm.

March 1, 2021

Acquisitions Multifamily Oklahoma Texas

Elkhorn Capital Acquires Two Apartment Complexes Totaling 158 Units in Oklahoma City

by Taylor Williams March 1, 2021

OKLAHOMA CITY — Dallas-based investment firm Elkhorn Capital Partners has acquired Arbor Glen and Arbor Vista, two contiguous apartment complexes totaling 158 units in Oklahoma City. Recently renamed Parkview Apartments 1 and 2, the properties total 96 and 62 units, respectively, in one- and two-bedroom floor plans. Elkhorn Capital is planning to consolidate the complexes into one property and to implement a value-add program to unit interiors and amenity spaces. The seller was not disclosed

March 1, 2021

Acquisitions Multifamily Texas

Greystone Arranges Sale of 137-Unit Apartment Community in East Dallas

by Taylor Williams March 1, 2021

DALLAS — Greystone has arranged the sale of Residences at White Rock Lake, a 137-unit apartment community in East Dallas. According to Apartments.com, the property was built in 1970 and features one- and two-bedroom units, as well as a pool and onsite laundry facilities. Mark Allen and Chibuzor Nnaji of Greystone’s Investment Sales Group represented the seller, Texas-based Arcturus Investments, in the transaction. The duo also procured the buyer, a locally based limited liability company.

March 1, 2021

Jefferson-Platinum-Triangle-Apts-Anaheim-CA

Acquisitions California Multifamily Western

Waterford Property Buys Jefferson Platinum Triangle Apartments in Anaheim for $160M, Plans Workforce Housing Conversion

by Amy Works March 1, 2021

ANAHEIM, CALIF. — Waterford Property Co., in partnership with California Statewide Communities Development Authority (CSCDA), has purchased Jefferson Platinum Triangle. The transit-oriented multifamily community is located at 1781 S. Campton Ave. in Anaheim’s Platinum Triangle District. JPI sold the asset for $160 million. The buyers plan to convert the 400-unit property into workforce housing. The acquisition is part of a workforce housing finance program created in 2020 by CSCDA. Using tax exempt bond financing, CSCDA can purchase multifamily projects without the use of public subsidies to provide much-needed housing for the middle-income workforce demographic. With this acquisition the partnership will be able to lower rents for qualified existing and new residents making between 80 percent and 120 percent of the area median income in order to create more workforce housing in Anaheim. Built in 2018, Jefferson Platinum Triangle features 400 units, clubrooms, two resort-style pools with hot tubs, outdoor cooking areas, fitness centers and a yoga studio. Shane Shafer and Kyle Pinkalla of NorthMarq brokered the transaction.

March 1, 2021

Industrial Leasing Activity Texas

Rediform Extends 100,808 SF Industrial Lease Near Fort Worth

by Taylor Williams March 1, 2021

COPPELL, TEXAS — Rediform, a supplier of office products, has extended its 100,808-square-foot industrial lease at 555 Airline Drive in the Fort Worth suburb of Coppell. According to LoopNet Inc., the cross-dock property was built in 1990 and features 24-foot clear heights and 18,646 square feet of office space. Sean Smith, Evan Hammer and Jade Scott of Whitebox Real Estate represented Rediform in the lease negotiations. Rebel Blackwell represented the landlord, Link Industrial Properties, on an internal basis.

March 1, 2021

Leasing Activity Office Texas

CarOffer Signs 60,000 SF Office Sublease in Metro Dallas

by Taylor Williams March 1, 2021

ADDISON, TEXAS — CarOffer, an online automotive trade platform, has signed a 60,000-square-foot office sublease at 15601 Dallas Parkway in the northern suburb of Addison. CarOffer, which is subleasing the space from date center services provider Cyxtera Technologies, is relocating and expanding from a 27,000-square-foot space in Plano. Clay Vaughn and Preston Lynn of CBRE represented CarOffer in the lease negotiations. Brian Brooks and Brian Brtalik of Foundry Commercial represented Cyxtera. Chris Taylor with Cushman & Wakefield and Trey Smith with CBRE represented the undisclosed owner of the building.

March 1, 2021

Development Retail Texas

Gulf Coast Commercial Unveils Plans for 38,000 SF Retail Redevelopment Project in Houston

by Taylor Williams March 1, 2021

HOUSTON — Locally based developer Gulf Coast Commercial Group has unveiled plans for The Common, a project that will redevelop a retail strip center in one of Houston’s Opportunity Zones into a 38,000-square-foot lifestyle hub. Houston-based Schooley Design is the architect of the project, which will feature multiple retail and restaurant concepts, as well as a central common area for events. Construction is scheduled to begin in March and to be complete in the fall.

March 1, 2021

Development Healthcare Midwest Minnesota

Davis to Develop 40,000 SF Medical Office Building in Suburban Minneapolis

by Kristin Harlow March 1, 2021

BROOKLYN PARK, MINN. — Minneapolis-based Davis has been selected by Allina Health and Surgical Care Affiliates to develop and own the venture’s first ambulatory surgery center in Brooklyn Park, a northwest suburb of the Twin Cities. Davis expects to break ground in late April or early May on the two-story, 40,000-square-foot project. Allina and Surgical Care Affiliates will lease 18,000 square feet on the second floor. The project team includes Plymouth, Minn.-based Timco Construction Inc. and Minneapolis-based Synergy Architecture Studio. Completion is slated for the end of first-quarter 2022.

March 1, 2021

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