FORT WORTH, TEXAS — Lee & Associates has negotiated a 301,995-square-foot industrial lease at Everman Distribution Center in Fort Worth. The property is located within Carter Distribution Center and features 38-foot clear heights, 280-foot truck court depths, 196 car parking spaces, 92 trailer parking spaces and 22 dock-high doors. Trey Fricke and Reid Bassinger of Lee & Associates represented the landlord, The Hollingsworth Cos., in the lease negotiations. Tom Golarz and James Ewing of Colliers International represented the tenant.
DALLAS — New York-based investment firm Avid Realty Partners has purchased The Pearl at Midtown, a 213-unit apartment community in northeast Dallas. Florida-based Electra Capital contributed a $7.8 million preferred equity investment to the deal. Built in 1972, the property features studio, one- and two-bedroom units ranging in size from 400 to 1,034 square feet that include private patios and balconies. The amenity package consists of a clubhouse with a lounge and game room, business center, spa/sauna, fitness center, a pool and onsite laundry facilities. The seller and sales price were not disclosed.
HOUSTON — Walker & Dunlop has brokered the sale of The Co-Op at Med Center, a 200-unit multifamily property located within the Texas Medical Center in Houston. Units come in studio, one- and two-bedroom floor plans, and amenities include a pool, fitness center, basketball and volleyball courts, study areas, coffee bar and a dog park. Walker & Dunlop’s Scott Bray, Ryan Epstein and Jennifer Ray represented the seller, Urban Genesis, in the transaction. The buyer was an entity doing business as EAS Houston LLC, plans to implement a value-add program at the property, which was originally built as a hotel and converted to multifamily in 2018.
CARROLLTON, TEXAS — Dallas-based investment firm Mohr Capital has sold a 113,786-square-foot industrial flex building located in the northern Dallas suburb of Carrollton. The property was fully leased at the time of sale. Connecticut-based telecommunications firm Frontier Communications occupies 75 percent of the space, and the remaining portion is leased to Transcendia, an Illinois-based provider of custom-engineered materials. Dustin Volz and Stephen Bailey of JLL represented Mohr Capital in the deal. Boston-based Cabot Properties purchased he asset for an undisclosed price.
BLOOMINGDALE, GA. — CA Industrial, part of Chicago-based CA Ventures, and Barings LLC, a subsidiary of MassMutual, have broken ground on the first phase of the I-16 Port Logistics site in Bloomingdale. The nine-building industrial project totals nearly 4 million square feet. Located on the northeast corner of Interstate 16 about 13.5 miles from Savannah, I-16 Port Logistics is situated close to the Port of Savannah. The first phase of the development will include one cross-dock facility and two rear-load facilities totaling 1.1 million square feet. Construction of Phase I of the three-phased project is slated for completion by Nov. 2022. Hartford Investment Management Co. (HIMCO) provided an undisclosed amount of construction financing for the development. Evans General Contractors is serving as the general contractor for the project, and William Lattimore and Bill Sparks of CBRE will serve as leasing brokers for the properties.
CHARLESTON, S.C. — Atlanta-based The Radco Cos. has sold a three-property, 498-unit multifamily portfolio in Charleston to Atlanta-based Braden Fellman Group. Andrew Mays of Berkadia brokered the $76 million transaction. The three properties include Ashford Palmetto Square, Ashford Riverview and Radius West Ashley. Built in 1966, Ashford Palmetto Square is a 139-unit multifamily property with one- and two-bedroom floorplans. Community amenities include courtyards, a pool with sundeck, community garden, fire pits, bark park, laundry facilities, Amazon package lockers and a picnic area. Located at 1551 Sam Rittenberg Road, the property is situated in central Charleston with access to Highways 7, 61 and 17. Constructed in 1965, Ashford Riverview is a 161-unit multifamily property that offers one-, two- and three-bedroom units. Community amenities include landscaped courtyards, a pool with sundeck, bark park, fitness center, business center, grilling and picnic areas and laundry facilities. Located at 1478 Orange Grove Road, the property is situated in West Ashley, a residential area in Charleston. The property is near retailers and restaurants such as King Claw Juicy Seafood & Bar, Kings Sushi, Total Wine & More, El Molino Supermarket, Dollar Tree and Publix. Lastly, Radius West Ashley is a 198-unit multifamily property with one-, two-and …
HOOVER, ALA. — Cushman & Wakefield has arranged the sale of Riverchase Landing, a 468-unit apartment community located in Hoover, about 12.1 miles from Birmingham. Jimmy Adams, Craig Hey and Andrew Brown of Cushman & Wakefield represented the Houston-based seller, ApexOne Investment Partners, in the transaction. New York-based Kushner Cos. acquired the property for $67.1 million. Built between 1984 to 1992, Riverchase Landing offers one-, two- and three-bedroom floorplans. The property’s units feature walk-in closets, wood-style floors, gas fireplaces and vaulted ceilings. Community amenities include a clubhouse, community room, dog park, dog washing station, fitness center, grill stations, playgrounds, two pools and tennis courts. Located at 200 River Haven Circle, the apartment community has access to Interstates 65 East and 459, and is located 1.7 miles from Riverchase Galleria, a shopping center with over 145 stores.
RALEIGH, N.C. — JLL Capital Markets has brokered the sale of South 40 Distribution Center, a 502,495-square-foot, last-mile distribution facility in Raleigh. Patrick Nally, Pete Pittroff, Dave Andrews and Michael Scarnato of JLL represented the seller, LM Real Estate Partners, in the transaction. Pennybacker Capital acquired the property for an undisclosed price. Located at 2201 and 2126 S. Wilmington St., South 40 Distribution Center is in an infill location situated one mile south of downtown Raleigh. The property is also situated adjacent to Interstate 40. Pennybacker Capital is a real estate private equity investment manager with offices in Austin, New York, Denver and Charlotte. LM Real Estate Partners is a New York-based commercial real estate firm that specializes in the acquisition and operation of industrial properties.
EUSTIS, FLA. — Tabani Group Inc., a Dallas-based commercial real estate firm, has acquired Shoppes at Eustis Village, a 29,367-square-foot retail strip center in Eustis, about 37.9 miles north from Orlando. Brad Peterson, Whitaker Leonhardt, Michael Brewster and Tommy Isola of JLL represented the seller, Miami-based CORE Investment Properties, in the transaction. The sales price was approximately $9.2 million. Completed in 2006, the Shoppes at Eustis Village is fully leased to nine tenants including Starbucks Coffee, Verizon Wireless, Pep Boys, Greenberg Dental, Liberty Health Sciences and Planet Smoothie. Located at 15439 US Highway 441, the three-building property is shadow-anchored by Publix and Bealls.
PEMBINE, WIS. — An affiliate of Chicago-based Brick by Brick Capital, in partnership with tech-enabled hotel operator Life House, has acquired the historic Four Seasons Island Resort in the Northeast Wisconsin town of Pembine. The purchase price was undisclosed. The deal represents the first hotel in Wisconsin for both Brick by Brick and Life House, and the first of several planned acquisitions across the upper Midwest. Originally built in 1905 by the Wisconsin-Michigan Railroad Co., the 70-acre resort was a popular destination for visitors arriving by railroad from Chicago during the summer months. The hotel is located on Miscauno Island along a scenic stretch of the Menominee River, which is the natural border separating Wisconsin from the Upper Peninsula of Michigan. Life House will operate a wide array of amenities, including four dining options, a nine-hole golf course, wedding and conference facilities, an indoor pool, fitness room, arcade, pontoon boat tours and cross-country ski rentals.