Property Type

13th Floor Investments, Adler Group to Open 22-Story Apartment Tower in Miami

by Julia Sanders May 19, 2021

MIAMI — Developers 13th Floor Investments and Adler Group have opened leasing for CORE Link at Douglas, a new 312-unit residential tower underway in Miami. Slated to open in August at 3060 SW 37th Ave., CORE will become the first tower to open at Link at Douglas, a seven-acre mixed-use development located adjacent to Miami’s Metrorail and The Underline linear park. Global investment manager Barings is a partner on the project. Located along US-1 and Douglas Road, CORE is situated between Coral Gables and Coconut Grove. The property is less than two miles away from the University of Miami. The 22-story residential building will feature studios, one- and two-bedroom apartments. Leasing rates will start at $1,690 for studios, $2,090 for one-bedrooms and $2,790 for two-bedrooms. Community amenities will include a rooftop pool deck, poolside grilling and private cabanas, as well as a fitness center with a yoga studio, business center and media room. A social lounge will come complete with billiards, shuffleboard, ping pong and a furnished seating area centered around a fireplace. Other amenities will include secured package room, bike storage and Wi-Fi in all common areas. Apartments will feature private balconies, floor-to-ceiling windows, granite countertops, modern kitchen hardware …

May 19, 2021

Acquisitions Georgia Retail Southeast

Hanley Investment Group Brokers $24.6M Sale of Publix-Anchored Shopping Center in Metro Atlanta

by Julia Sanders May 19, 2021

ALPHARETTA, GA. — Hanley Investment Group Real Estate Advisors has brokered the $24.6 million sale of Alpharetta Commons, a 94,500-square-foot shopping center located in the Atlanta suburb of Alpharetta. Publix anchors the property, which is 98.7 percent occupied by tenants including Sports Clips, T-Mobile, a nail salon, dry cleaners, a liquor store and restaurants. Ed Hanley and Kevin Fryman of Hanley Investment Group, along with ParaSell Inc., represented the 1031 exchange buyer, a private investor based in Southern California. Chris Decouflé, Kevin Hurley and Matt Karempelis of CBRE represented the seller, an undisclosed institutional real estate owner, operator and developer.

May 19, 2021

Acquisitions Florida Office Southeast

Dowd Arranges $4.1M Sale of Offices at Sunset Walk Near Orlando

by Julia Sanders May 19, 2021

KISSIMMEE, FLA. — The Dowd Cos. has arranged the $4.1 million sale of Offices at Sunset Walk, a 19,603-square-foot office building located at 8011 Fins Up Circle in Kissimmee. The property is part of Sunset Walk, an $800 million mixed-use development near Orlando. The 100 percent leased building was built in 2018 and is located adjacent to the Margaritaville Resort Orlando. The building is located close to the shops and restaurants at the Promenade at Sunset Walk, a new entertainment retail center and water park. The buyer, Bet on the Mouse LLC, is an out-of-state investor. The seller was Rolling Oaks Splendid LLC. John Dowd and Theresa Johnson of The Dowd Cos. represented both the buyer and seller in the transaction. The Dowd Cos. is a boutique investment sales firm based in West Palm Beach. The company focuses mainly on triple-net-leased retail assets, office properties and vacant land.

May 19, 2021

Development Industrial Texas

Creation Equity, Crow Holdings to Develop $60M Industrial Project in Mesquite, Texas

by Taylor Williams May 19, 2021

MESQUITE, TEXAS — The City Council of Mesquite, located east of Dallas, has passed a resolution to approve terms and conditions for the development of a $60 million industrial project that will be known as Mesquite 635. A partnership between Phoenix-based investment and development firm Creation Equity and a fund advised by Crow Holdings Capital is developing the 555,000-square-foot project. Mesquite 635 will be situated about 11 miles east of Dallas at the southeast corner of Interstate 35 and U.S. Highway 80 and will consist of two rear-load buildings and one front-load building. LGE Design Group and its affiliate, LGE Design Build, are respectively serving as the architect and general contractor for the project. Construction is expected to begin in the fourth quarter and to be complete by late 2022/early 2023.

May 19, 2021

California Development Industrial Western

Jupiter Holdings Unveils Plans for 702,147 SF Industrial Center in Menifee, California

by Amy Works May 19, 2021

MENIFEE, CALIF. — Newport Beach, Calif.-based Jupiter Holdings has released plans for Scott Road Commerce Center, an industrial center located at 33380 Zeiders Road in Menifee. Totaling 702,147 square feet on 40.5 acres, Scott Road Commerce Center will include one existing, fully leased industrial building and four to-be-constructed buildings. The first phase of construction includes buildings one and two, with an estimated groundbreaking on building two in August 2021 for completion in mid-2022. The second phase will include buildings three, four and five with a tentative groundbreaking in early 2022 and completion slated for year-end 2022. The completed complex will offer buildings ranging from 73,000 square feet to 230,000 square feet. Tucker Hohenstein, Steve Bellitti and Joey Jones of Colliers International, in partnership with Gordon Mize of Lee & Associates, will handle marketing efforts for the development.

May 19, 2021

Acquisitions California Office Western

Harvest Properties, Cerberbus Capital Sell 385,000 SF Office Building in Daly City, California

by Amy Works May 19, 2021

DALY CITY, CALIF. — Harvest Properties and an affiliate of Cerberus Capital Management have completed the disposition of DC Station, a Class A office building located at 2001 Junipero Serra Blvd. in Daly City. The transaction also included an adjacent seven-level parking structure. Terms of the sale, including the name of the buyer and acquisition price, were not released. The sellers originally acquired the 385,000-square-foot property in April 2018 and implemented a leasing program that resulted in more than 90 percent occupancy by early 2020.

May 19, 2021

California Development Multifamily Retail Western

Cisterra to Develop 22-Story Retail, Residential Tower in San Diego with Target as Anchor Tenant

by Amy Works May 19, 2021

SAN DIEGO — San Diego-based Cisterra Development is developing Radian, a planned 255,000-square-foot retail and residential high-rise tower in the Ballpark District of San Diego’s East Village neighborhood. Located along G Street between 9th and 10th avenues, the 22-story tower will feature 241 apartments and ground-floor retail space, which a 36,000-square-foot Target will occupy. Residential amenities will include an indoor/outdoor fitness center, game room, event/dining room, business center/lounge, dog park/wash, outdoor theater and a rooftop pool/hot tub area with views of Petco Park, the Pacific Ocean, San Diego Bay and Coronado. Project partners include San Diego-based Carrier Johnston + CULTURE as building architect, Gensler for interior design and Swinerton as the general contractor. ACORE Capital provided construction financing, which CBRE procured, while Berkadia arranged a private family office as a joint-venture partner. The Koman Group and Wermers Properties are also joint-venture partners on the project.

May 19, 2021

Acquisitions Multifamily Texas

Wildhorn Capital Sells 388-Unit Multifamily Portfolio in San Antonio

by Taylor Williams May 19, 2021

SAN ANTONIO — Wildhorn Capital, an Austin-based multifamily investment firm, has sold a 388-unit portfolio in San Antonio. The portfolio consists of two properties, The Blair at Bitters and The Henry B, both of which were 97 percent occupied at the time of sale. Both properties feature one- and two-bedroom units and amenities such as pools, fitness centers, business centers, tennis courts, clubhouses and playgrounds. The buyer was Dallas-based private equity firm Kanesville Capital. Matt Michelson of Newmark represented Wildhorn Capital in the off-market transaction.

May 19, 2021

Acquisitions Colorado Net Lease Retail Western

Marcus & Millichap Arranges $6.3M Sale-Leaseback of Kum & Go-Occupied Property in Colorado Springs

by Amy Works May 19, 2021

COLORADO SPRINGS, COLO. — Marcus & Millichap has arranged the sale of a retail property located at Spectrum Loop in Colorado Springs. A limited liability company acquired the asset for $6.3 million. Kum & Go gas station and convenience store occupies the 5,620-square-foot property on a net lease. The building is adjacent to a 4 million-square-foot Amazon distribution center, which was built in 2021. Brian Bailey and Drew Isaac of Marcus & Millichap’s Denver office represented the buyer in the deal. The name of the seller was not released.

May 19, 2021

California Industrial Leasing Activity Western

IDC Leases 354,810 SF Industrial Facility in Inland Empire

by Amy Works May 19, 2021

PERRIS, CALIF. — IDC has inked a deal to occupy an industrial building located at 251 Rider St. in Perris. WPT Industrial REIT, a Canadian real estate investment trust, is the landlord. The newly constructed, 354,810-square-foot facility features 185 parking stalls, 65 trailer stalls and 47 dock-high loading doors. The property is situated near the 60 and 215 freeways. Mark Zorn and Cory Whitman of Colliers International represented the landlord in the deal.

May 19, 2021

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