Property Type

Shoma Group Sells Sanctuary Doral Apartments in South Florida for $102.5M

by Julia Sanders October 13, 2021

DORAL, FLA. — Shoma Group has sold Sanctuary Doral Apartments, a 226-unit, six-story apartment building in Doral. The buyer, Avanti Group, purchased the property for $102.5 million, or $453,539 per unit. Still Hunter of Walker & Dunlop represented the seller in the transaction. Built in 2020, Sanctuary Doral includes one-, two- and three-bedroom floorplans. Rental rates average $2,210 to $3,660 for a 12-month lease and $2,410 to $3,860 with a seven-month lease. Other community amenities include a gym with steam room and sauna, pet spa, pool, bike path, mini soccer field, yoga lawn and a two-story clubhouse. The apartment property was fully occupied at the time of sale. Located at 9400 NW 41st St., Sanctuary Doral is situated close to retailers and restaurants such as McDonald’s, Walgreens, Starbucks and Publix. The apartment community is also about 13.3 miles from downtown Miami and 17.7 miles from Miami Beach.

October 13, 2021

Development Georgia Loans Mixed-Use Southeast

JLL Secures Construction Financing for $2B High Street Project in Atlanta’s Central Perimeter

by Julia Sanders October 13, 2021

ATLANTA — JLL Capital Markets has arranged a construction loan for the development of Phase I of High Street, a $2 billion, 36-acre mixed-use development along Perimeter Center Parkway in Atlanta’s Central Perimeter submarket. Ed Coco and Matt Casey of JLL arranged the loan through Bank OZK on behalf of the developer, owner and operator of the project, GID Development Group. The loan amount was not disclosed. High Street will feature approximately 150,000 square feet of retail and restaurants, 600 luxury apartments, 90,000 square feet of loft offices and 222,000 square feet of existing office space. In September, Puttshack, an entertainment-driven mini golf retailer, signed a 26,000-square-foot lease at High Street to be the first anchor tenant at the development. High Street is situated across from the Dunwoody MARTA station and is close to Ga. Highway 400 and the Interstate 285 perimeter loop. GID will break ground on the first phase of High Street this year, with completion slated for 2024. Molly Morgan, Allie Spangler, Jeff Bellamy and Claire Ross of JLL represents GID in the retail and office leasing at High Street.

October 13, 2021

Acquisitions Industrial Self-Storage Texas

Simply Self Storage Acquires 4,200-Unit Portfolio in Houston, Dallas

by Taylor Williams October 13, 2021

HOUSTON AND DALLAS — Simply Self Storage, an Orlando-based owner-operator whose holdings total roughly 80,000 self-storage units across 23 states, has acquired a portfolio of eight facilities totaling approximately 4,200 units in Houston and Dallas. Seven of the properties spanning about 620,000 net rentable square feet and 3,600 units are located in Houston, with a roughly a third of that inventory being climate-controlled space. The Dallas property spans 65,950 net rentable square feet and 600 units. The seller and sales price were not disclosed.

October 13, 2021

Civic Development Texas

Skanska Underway on 445,000 SF Renovation, Expansion of Tarrant County College Northwest Campus

by Taylor Williams October 13, 2021

FORT WORTH, TEXAS — General contractor Skanska is underway on the 445,000-square-foot renovation and expansion of the Tarrant County College Northwest Campus in Fort Worth. Huckabee is the architect of record for the project, and Gensler is providing additional design services. Design work consists of “re-skinning” three existing buildings and constructing four new ones. This approach will expand campus programs to incorporate an early college high school, classrooms and specialty labs, visitor welcome and administration, onboarding, and fine arts, learning commons, theater, music and multifunctional spaces. Completion is slated for 2025.

October 13, 2021

Acquisitions Arkansas Retail Southeast

Global Net Lease Acquires Walmart Learning Center in Bentonville, Arkansas for $40.6M

by Julia Sanders October 13, 2021

BENTONVILLE, ARK. — Global Net Lease Inc. (GNL) has acquired the Walmart Learning Center, a 90,000-square-foot training and development center in Bentonville that is leased to Walmart Inc. The sales price was $40.6 million. The Walmart Learning Center serves as the primary digital and onsite training and development facility for Walmart associates. The retail giant has seven years of remaining lease term at the facility.

October 13, 2021

Leasing Activity Office Southeast Virginia

Software Firm Signs 49,257 SF Office Lease at 3TWENTY3 in Charlottesville, Virginia

by Julia Sanders October 13, 2021

CHARLOTTESVILLE, VA. — General Atomics Commonwealth Computer Research Inc., a locally based advanced analytics and software solutions firm, has signed a 49,257-square-foot office lease within the 3TWENTY3 building in Charlottesville. Totaling 120,000 square feet, 3TWENTY3 is a five-floor office building that was built on top of a four-story, 200-space parking structure. Building amenities include a pedestrian plaza/walkway, common lobby gathering space, LEVEL10 rooftop area with event and conference space, catering kitchen, patio, electric car charging stations and covered bike racks. Located at 323 2nd St. SE, the property will be located near downtown Charlottesville and is about 1 mile from the University of Virginia. Built in late 2020, the property is about 80 percent leased out to tenants including McGuireWoods, Williams Mullen and Manchester Capital. John Pritzlaff of Cushman & Wakefield | Thalhimer handled the lease negotiations on behalf of the landlord and developer, Charlotte-based Insite Properties. Robin Amato of REIII Commercial Properties represented the tenant.

October 13, 2021

Acquisitions Multifamily Texas

Praedium Group Buys 330-Unit Lenox Grand Crossing Apartments in Metro Houston

by Taylor Williams October 13, 2021

HOUSTON — New York City-based investment firm The Praedium Group has purchased Lenox Grand Crossing, a 330-unit apartment community in the western Houston suburb of Katy that was built in 2020. Units within the 10-building community feature stainless steel appliances, granite countertops, tile backsplashes and full-sized washers and dryers. Amenities include a pool with cabanas, outdoor pavilion with grilling stations, recreational lounge with a pool table and bar seating, a fitness center, two dog parks and a package locker system. The seller was not disclosed.

October 13, 2021

Development Multifamily Single-Family Rental Texas

Banyan Residential Breaks Ground on 163-Unit Single-Family Rental Community in Kyle, Texas

by Taylor Williams October 13, 2021

KYLE, TEXAS — Los Angeles-based Banyan Residential has broken ground on Banyan Bunton Creek, a 163-unit single-family rental (SFR) community in Kyle, located in between Austin and San Antonio. Residences will feature two-car garages, fully landscaped backyards and modern interiors, and renters will have access to a pool with a splash pad and cabanas. Leasing is scheduled to begin early next year. An affiliate of Walton Street Capital is financing the project, which will be Banyan Residential’s second SFR community following the July opening of the 96-unit Banyan Kingsland Heights in Houston.

October 13, 2021

Acquisitions Multifamily Southeast Tennessee

Embrey Disposes of 322-Unit Multifamily Community in Nashville

by Julia Sanders October 13, 2021

NASHVILLE, TENN. — Embrey Partners LLC, a San Antonio-based real estate investment and development firm, has disposed of Knox at MetroCenter, a 322-unit multifamily community in Nashville. Newmark brokered the sale. The sales price and buyer were not disclosed. Located at 101 Athens Way, Knox at Metrocenter is located about three miles north of downtown Nashville and overlooks Amulet Lake. The apartment property has one- and two-bedroom floorplans with units featuring 9-foot ceilings, wood-style flooring, kitchens with granite countertops and stainless steel appliances, bathrooms with a garden tub and a built-in computer desk and bookshelves. Community amenities include a clubhouse with games and a media center, fitness center, spin and yoga room, swimming pool, outdoor grilling and dining areas, dog park and a pet spa.

October 13, 2021

Acquisitions Industrial Texas

JLL Negotiates Sale of 93,945 SF Industrial Park in Sugar Land, Texas

by Taylor Williams October 13, 2021

SUGAR LAND, TEXAS — JLL has negotiated the sale of Commerce Center Sugar Land, a 93,945-square-foot industrial property located on the southwestern outskirts of Houston. Built between 2006 and 2007, Commerce Center Sugar Land consists of six buildings with warehouse, manufacturing and specialized lab space that feature 16- to 18-foot clear heights and a 37 percent office finish. Trent Agnew, Charles Strauss, Katherine Miller and Jack Moody of JLL represented the seller, an affiliate of Houston-based Griffin Partners, in the transaction. A subsidiary of ARKA Properties Group Inc. purchased the asset for an undisclosed price.

October 13, 2021

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