Property Type

Target Introduces More Safety Measures Ahead of Holiday Season

by Kristin Harlow October 22, 2020

MINNEAPOLIS — Ahead of the holiday shopping season, Minneapolis-based Target Corp. is adding more safety measures for shoppers in response to the ongoing COVID-19 pandemic. Customers can download the Target app to utilize contactless payment options and employees throughout the store will have handheld checkout devices to make purchases more convenient. Shoppers can even reserve a spot in line by checking on their specific Target store on the website. Target is also doubling the number of curbside pickup parking spaces. Customers can show their barcode through the car window and maintain social distance. Target also announced that it would award more than 350,000 team members another $200 bonus. This includes hourly team members in stores, distribution centers and contact centers. It also includes seasonal hires.

October 22, 2020

Acquisitions Iowa Midwest Multifamily Seniors Housing

Essex Purchases 121-Unit Active Adult Community Near Des Moines

by Kristin Harlow October 22, 2020

URBANDALE, IOWA — Essex Communities has purchased The Reserve on Walnut Creek in Urbandale near Des Moines. The 121-unit active adult community is reserved for residents age 55 and older. Essex plans to convert the community from an entrance-fee model to a rental model. It will be rebranded as The Arbordale and undergo a multimillion-dollar renovation. Essex will update apartment interiors and community spaces as well as expand services and amenities. The seller and sales price were undisclosed.

October 22, 2020

Acquisitions Iowa Midwest Retail

Matthews Brokers $9.8M Sale of Walgreens Portfolio in Iowa

by Kristin Harlow October 22, 2020

JOHNSTON, WATERLOO AND URBANDALE, IOWA — Matthews Real Estate Investment Services has brokered the sale of three standalone properties, each occupied by Walgreens, in Iowa for $9.8 million. The assets are located at 6200 Merle Hay Road in Johnston, 3910 University Ave. in Waterloo and 4600 86th St. in Urbandale. Robert Goldberg, Ben Snyder and Bill Pedersen of Matthews brokered the transaction. The portfolio traded at a cap rate of 6.9 percent, but buyer and seller information was not disclosed.

October 22, 2020

Acquisitions Industrial Midwest Wisconsin

Zilber Acquires 165,000 SF Industrial Building in Metro Milwaukee

by Kristin Harlow October 22, 2020

PEWAUKEE, WIS. — Zilber Property Group has acquired a 165,000-square-foot industrial building in Pewaukee, located about 18 miles west of Milwaukee. The purchase price was undisclosed. The property is situated within a business park less than two miles north of I-94. It is currently vacant. Zilber plans to make various interior and exterior improvements to the building over the coming weeks. Scott Furmanski of CBRE represented the undisclosed seller. He will also market the property for lease on behalf of Zilber.

October 22, 2020

Development Multifamily Texas

SWBC Nears Completion of 295-Unit Multifamily Project in Metro Dallas

by Taylor Williams October 22, 2020

ROCKWALL, TEXAS — Locally based developer SWBC is nearing completion of The Royalton at Rockwell Downes, a 295-unit multifamily project in the northeastern Dallas suburb of Rockwall. The project represents Phase I of a larger development that will ultimately add 590 new units to the local supply. The Royalton at Rockwall Downes will offer one-, two- and three-bedroom residences that are furnished with stainless steel appliances, hardwood-style floors and granite countertops. Amenities will include a pool, spa, an indoor/outdoor game room, fitness center with a spin studio and a dog wash saloon. SWBC expects to complete Phase I in March 2021 and to begin construction of Phase II shortly thereafter. Cross Architects designed the community, and G&A Consultants served as the civil engineer.

October 22, 2020

Loans Multifamily Texas

NorthMarq Provides $24.6M Agency Acquisition Loan for Multifamily Property in San Antonio

by Taylor Williams October 22, 2020

SAN ANTONIO — NorthMarq has provided a $24.6 million Fannie Mae acquisition loan for The Park on Wurzbach, a 264-unit multifamily asset in San Antonio. Built in 2018, the property offers one-, two- and three-bedroom units that are furnished with stainless steel appliances, granite countertops, tile backsplashes and individual washers and dryers. Amenities include a pool and a fitness center with yoga and spin studios, as well as a clubhouse with a kitchen, billiards table and TVs. Faron Thompson, Ali Meek and Matthew Bronstein of NorthMarq originated the 10-year loan on behalf of the borrower, Houston-based Venterra Realty. Martin Bronstein, Ralph Howard and Bryan Tran, along with Scott LeMontagne, Moses Siller and Zar Haro of NorthMarq, negotiated the transaction on behalf of the seller, a partnership between BHW Capital and Gray Street Partners.

October 22, 2020

Development Industrial Self-Storage Texas

ARCO/Murray Completes 937-Unit Self-Storage Facility in North Arlington

by Taylor Williams October 22, 2020

ARLINGTON, TEXAS — Dallas-based design/build firm ARCO/Murray has completed a North Arlington Self Storage, a 937-unit facility. Developed by Cogent Capital, the five-story property spans 100,665 gross square feet and includes an interior drive aisle, detached single-story units and a 900-square-foot sales office. Extra Space Storage will manage the property. ARCO/Murray provided complete design-build services including architectural, structural, MEP design, permitting and construction.

October 22, 2020

Acquisitions Multifamily Oklahoma Texas

Elkhorn Capital Acquires 92-Unit Quail Plaza Apartments in Oklahoma City

by Taylor Williams October 22, 2020

OKLAHOMA CITY — Dallas-based Elkhorn Capital Partners has acquired Quail Plaza Apartments, a 92-unit multifamily community in Oklahoma City. According to Apartments.com, the property features one- and two-bedroom units and amenities such as a pool, fitness center, playground, game room and bike storage area. The seller and sales price were not disclosed.

October 22, 2020

Industrial Leasing Activity Texas

DXP Enterprises Signs 104,902 SF Industrial Lease Renewal in Dallas

by Taylor Williams October 22, 2020

DALLAS — DXP Enterprises, a distributor of repair and maintenance products for several industries, has signed a 104,902-square-foot industrial lease renewal at Building A of Pinnacle Industrial Center in Dallas. Jason Moser of Stream Realty Partners represented the tenant in the lease negotiations. NAI Robert Lynn represented the landlord, Pinnacle A LLC.

October 22, 2020

Acquisitions Florida Multifamily Southeast Student Housing

Preiss, Crow Holdings Acquire 752-Bed Student Housing Community Near Florida State University

by Alex Tostado October 22, 2020

TALLAHASSEE, FLA. — A joint venture between The Preiss Co. and a private equity fund advised by Crow Holdings Capital has acquired Quantum on West Call, a 752-bed student housing community located near Florida State University in Tallahassee. The property offers one-, two-, three- and four-bedroom, fully furnished units with bed-to-bath parity. Communal amenities include a 24-hour fitness center, pool, yoga center, clubhouse, theater, cyber lounge, individual study nooks, group study spaces and a sundeck with hammocks and grilling stations. The new ownership plans to begin renovations on half of the 225 units to upgrade vinyl plank flooring in the common areas and improve internet connectivity. Terms of the transaction and the seller were not disclosed.

October 22, 2020

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