Property Type

Trammell Crow, Clarion to Develop 1.1 MSF Build-to-Suit Facility for Ace Hardware in Jefferson, Georgia

by Julia Sanders June 30, 2021

JEFFERSON, GA. — Trammell Crow Co. and its joint venture partner Clarion Partners LLC have released plans for a new distribution center for Ace Hardware Corp. as part of the Jefferson Mill Business Park in Atlanta’s I-85 Northeast submarket. Ace Hardware, a retailer of convenience hardware products based in Oak Brook, Ill., will lease a 1.1 million-square-foot building when construction is complete in the second quarter of 2022. Located at 1231 Hog Mountain Road in Jefferson, the build-to-suit facility will include 28,000 square feet of office space, 400 car parking spaces and 300 trailer parking spaces. The building will be expandable by an additional 460,000 square feet, and the property will serve as one of Ace Hardware’s retail support centers. David Lind of CBRE represented Ace Hardware in the lease negotiations. Ben Logue and Price Weaver of Colliers International represented the landlords.

June 30, 2021

Development Georgia Retail Southeast

North American Properties Opens Politan Row Food Hall at Colony Square in Midtown Atlanta

by Julia Sanders June 30, 2021

ATLANTA — Developer North American Properties (NAP) has opened Politan Row, a new food hall at Colony Square in Midtown Atlanta. The food hall is located at the corner of 14th and Peachtree streets and features space for 11 independent food and beverage concepts, a central bar, an event space and a hidden bar. An entity known as Politan Group operates the food hall. The nine open purveyors at Politan Row include Belli Pizzeria, Bun Mi Grill, Federal Burger, Gekko, Locale Cafe, Pretty Little Tacos, Tandoori Pizza and Wing Co., Unbeliebubble and YŌM. The last two concepts are still in the planning stages and more information about them will be released later. Politan Row at Colony Square’s interior space, which can seat 250 guests, makes up approximately 20,000 square feet. Colony Square’s outdoor space encompasses 22,000 square feet and includes three designated areas known as The Plaza, The Patio and The Grove. The Plaza will host Colony Square’s 200 plus annual events. The Patio features a variety of covered seating, an outdoor bar and shuffleboards. The Grove includes seating underneath a canopy of trees. Anchoring the new food hall is Bar Politan, a 40-seat bar whose program includes craft cocktails, …

June 30, 2021

Development Maryland Multifamily Southeast

Foulger-Pratt to Develop $119.5M Rae at Westlake Apartment Project in Bethesda, Maryland

by Julia Sanders June 30, 2021

BETHESDA, MD. — Foulger-Pratt will develop The Rae at Westlake, a five-story, 343-unit multifamily property in Bethesda. The community will include 299 market-rate apartments and 44 affordable housing units. The developer expects the property to cost $119.5 million to bring on line. Located at 10401 Motor City Drive, Rae at Westlake will be situated across from Westfield Montgomery Mall, which has 750,000 square feet of retail space with more than 40 dining places, theaters and a bowling alley. The mall is currently undergoing renovations. The mixed-income apartment property will be located off Interstate 270 and close to federal government operations, including the National Institutes of Health and the U.S. Food and Drug Administration. Additionally, the project will be located across from the Montgomery Mall Transit Center, which provides bus access to three Metrorail stations. The Rae will feature 46 studio, 170 one-bedroom and 127 two-bedroom units. Community amenities will include a dedicated dog run and pet spa, 24-hour fitness center, bocce ball courts, pedestrian trail, two courtyards with pool and grilling, coworking space and community event space. The project is slated to be open by the end of 2023. The apartment project was funded by $42.7 million sponsor and investor …

June 30, 2021

Development Florida Multifamily Southeast

Jefferson Apartment Group Completes 264-Unit Apartment Community in Orlando

by Julia Sanders June 30, 2021

ORLANDO, FLA. — Jefferson Apartment Group has opened Jefferson Sand Lake, a 264-unit apartment complex in Orlando. The multifamily community was developed in partnership with Germantown, Tenn.-based MAA, a publicly traded REIT and owner-operator of apartments. Jefferson Sand Lake is a lakefront property with views of Mirror Lake and Big Sand Lake. Community amenities include a heated pool, outdoor cabanas and sun shelves, a covered outdoor terrace with lounge seating and entertainment space, two fire pit lounges, grilling areas and a clubroom featuring a poker table and billiards. Additional amenities include a business center, conference room, two micro-offices, fitness center, onsite dog park, pet spa, covered garages, electric vehicle charging stations, 24/7 package locker system and a zen garden. The apartment complex has a mix of one-, two- and three-bedroom apartments. Each unit features stainless steel appliances, granite countertops, ceramic tile backsplash, pantries with adjustable shelving, walk-in closets, a full-size washer and dryer, ceiling fans, screened patios/balconies, linen closets and bathrooms with glass enclosed showers and double vanity options. The gated community is already 30 percent leased.

June 30, 2021

Development Georgia Multifamily Seniors Housing Southeast

Capitol Seniors Housing Breaks Ground on 180-Unit Outlook at Exchange in Buford, Georgia

by Julia Sanders June 30, 2021

BUFORD, GA. — Capitol Seniors Housing has broken ground on The Outlook at the Exchange, an active adult community for residents ages 55 and older in Buford. The 200,000-square-foot, four-story community will offer 180 residential units. The Outlook at the Exchange seniors housing community will be part of Fuqua Development’s Exchange at Gwinnett, a $350 million mixed-use development underway near the Mall of Georgia. The 106-acre development will include 460,000 square feet of retail, restaurants, entertainment and about 1,000 units of apartments, townhomes and senior housing for about 3,000 residents. Situated close to Topgolf, Andretti’s, Sprouts Farmers Market and the food hall, The Outlook at the Exchange will feature a mix of one- and two-bedroom apartments. The project is scheduled to open in late 2022. Element Architects is the design firm for the project, and Core Construction is the general contractor. Capitol Seniors Housing is a senior housing development and investment firm based in Washington, D.C.

June 30, 2021

Development Industrial Texas

Quiet 3PF Opens 550,000 SF Fulfillment Center in Northwest Dallas, Creates 400 Jobs

by Taylor Williams June 30, 2021

DALLAS — Quiet 3PF, a third-party logistics firm based in Massachusetts, has opened a 550,000-square-foot fulfillment center at 10750 Denton Drive in northwest Dallas. The move added about 400 jobs to the local economy. Greenfield Partners LLC, which acquired Quiet 3PF along with Related Fund Management in 2018, developed the facility.

June 30, 2021

Affordable Housing Development Multifamily Seniors Housing Texas

Oldham Goodwin Completes 148-Unit Affordable Seniors Housing Community in Texas City, Texas

by Taylor Williams June 30, 2021

TEXAS CITY, TEXAS — Oldham Goodwin Group LLC, a development and management firm based in Central Texas, has completed The Huntington at Lago Mar, a 148-unit affordable independent living community in Texas City, located southeast of Houston. Units feature granite countertops, vinyl flooring and individual washer and dryer connections. Communal amenities include a yoga studio, fitness center, community room, theater, pool, outdoor grill area and bocce ball and shuffleboard courts. Construction began in November 2019.

June 30, 2021

Acquisitions Industrial Texas

TRS Negotiates Sale of Three Warehouses Totaling 198,663 SF in Houston

by Taylor Williams June 30, 2021

HOUSTON — Transwestern Real Estate Services (TRS) has negotiated the sale of three warehouses totaling 198,663 square feet in Houston. The first property spans 89,000 square feet across four buildings and is located at 15800 Export Plaza. The second facility totals 59,344 square feet and is located at 11940 Brittmoore Park Drive. The third asset consists of 50,319 square feet on a 7.2-acre site at 7211 Gessner Road. Nick Peterson and John Ferruzzo of TRS represented the sellers in all three transactions. The buyers were all undisclosed.

June 30, 2021

Loans Multifamily Texas

PlattPointe Capital Arranges $32.5M Construction Loan for Fort Worth Multifamily Project

by Taylor Williams June 30, 2021

FORT WORTH, TEXAS — PlattPointe Capital LLC, a boutique capital advisory firm, has arranged a $32.5 million senior loan for the construction of a six-building, 226-unit multifamily project in Fort Worth. A local debt fund provided the financing, which was structured with an 80 percent loan-to-cost ratio. The borrower was not disclosed.

June 30, 2021

Loans Lument Multifamily Texas

Lument Provides $15.5M Agency Loan for Refinancing of Dallas Affordable Housing Property

by Taylor Williams June 30, 2021

DALLAS — Lument has provided a $15.5 million Fannie Mae loan for the refinancing of Redbird Trails Apartments, a 252-unit affordable housing property in South Dallas. The property was built in 1985 and offers one- and two-bedroom units. Approximately 20 percent of the units are reserved for renters earning 50 percent or less of the area median income (AMI), and 80 percent of the residences are reserved for renters earning 60 percent or less of AMI. Chad Musgrove of Lument originated the debt, which carried a 12-year term, fixed interest rate and a 30-year amortization schedule. The undisclosed borrower, which has owned and operated the community since 1992, will use a portion of the proceeds to fund capital improvements.

June 30, 2021

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