Property Type

Boston Consulting Group to Expand Downtown Atlanta Office Footprint by 60,000 SF

by Alex Tostado December 3, 2020

ATLANTA — Boston Consulting Group (BCG) will invest $18 million in a 60,000-square-foot office expansion at 100 Peachtree Street NE in downtown Atlanta. The project will add 331 full-time jobs comprising administrative services, human resources, finance, information technology, operations and design. BCG opened its first Atlanta office in 1995 and expanded in 2017 to have 268 employees in the Peach State. The company also owns BrightHouse, an Atlanta-based global creative consultancy with a focus on brand strategy that is located in Ponce City Market in the Old Fourth Ward district. When this expansion in Atlanta is complete, BCG and BrightHouse will employ more than 900 Georgians across three metro Atlanta offices. A timeline for completion was not disclosed.

December 3, 2020

Company News Retail Texas

At Home Reports 47.5 Percent Increase in Third-Quarter Sales, Up 21.5 Percent Year-to-Date

by Taylor Williams December 3, 2020

PLANO, TEXAS — At Home Group Inc. (NYSE: HOME) reported a 47.5 percent increase in net sales for its third fiscal quarter that ended on Oct. 24 relative to its fiscal third quarter in 2019. At Home has now achieved 21.5 percent growth in net sales on a year-to-date basis. The Plano-based home improvement retailer also reported $47.1 million in net income for its third quarter, a substantial increase from the $14.6 million net loss posted in the third quarter of 2019. The company currently operates 219 stores in 40 states. In a call with shareholders, At Home CEO Lee Bird noted the company was currently enjoying its lowest leverage ratio since going public. In addition, Bird said that At Home’s “real estate opportunities are only getting stronger,” and that the company had “the potential to grow our store base nearly three times larger.” At Home’s stock price opened at $18.86 per share on Thursday, Dec. 3, up from $8.24 per share a year ago.

December 3, 2020

Acquisitions Multifamily Texas

Silver Point, Origin Investments Acquire 462-Unit Ashley Oaks Apartments in San Antonio

by Taylor Williams December 3, 2020

SAN ANTONIO — New Jersey-based Silver Point Group and its Chicago-based preferred equity partner Origin Investments have acquired Ashley Oaks Apartment Homes, a 462-unit multifamily community in San Antonio. Built in phases between 1985 and 1995, the property is located approximately 15 miles from the downtown district and features one-, two- and three-bedroom units. Amenities include a pool, fitness center, clubhouse and outdoor grilling areas. The seller was LivCore, a subsidiary of Blackstone Group.

December 3, 2020

Acquisitions Multifamily Texas

CBRE Negotiates Sale of 160-Unit Monterey Apartments in Irving

by Taylor Williams December 3, 2020

IRVING, TEXAS — CBRE has negotiated the sale of Monterey Apartments, a 160-unit multifamily community in Irving. The property was built in 1971, offers a pool and a playground and was 73 percent occupied at the time of sale. Chris Deuillet and William Hubbard of CBRE represented the seller, Plano-based Elmstone Group, in the transaction. The buyer was Forney, Texas-based BeazWorkz Investing.

December 3, 2020

Acquisitions Retail Texas

Henry S. Miller Arranges Sale of 24,833 SF Retail Building in Fort Worth

by Taylor Williams December 3, 2020

FORT WORTH, TEXAS — Henry S. Miller Brokerage has arranged the sale of a 24,833-square-foot retail building located at 2551 Ephriham Ave. in northwest Fort Worth. Shawn Ackerman of Henry S. Miller represented the seller, Fallas Borrower IV LLC, in the transaction. Troy Morgan of Structure Commercial represented the buyer, Savcorp Ltd., doing business as Savers Cost Plus Supermarket.

December 3, 2020

Acquisitions Multifamily Texas

Rastegar Property Buys 30-Unit Lamar Oaks Apartments in North Austin

by Taylor Williams December 3, 2020

AUSTIN, TEXAS — Locally based investment firm Rastegar Property Co. has purchased Lamar Oaks, a 30-unit apartment complex on Austin’s north side. The property was built in 1969 and consists of 19,650 net rentable square feet. Rastegar will implement a value-add program to unit interiors and amenity spaces, including greater air circulation and social distancing in common areas. The seller was not disclosed.

December 3, 2020

Acquisitions Northeast Office Pennsylvania

Sidra Capital Acquires 90 Percent Stake in 855,600 SF Office Campus in Blue Bell, Pennsylvania

by Taylor Williams December 3, 2020

BLUE BELL, PA. — Saudi Arabian investment firm Sidra Capital has acquired a 90 percent stake in Arborcrest Corporate Campus, an 855,600-square-foot office property located in the Philadelphia suburb of Blue Bell. The five-building campus was completed in two phases between 2015 and 2019 and maintains a sizable life sciences and biotechnology footprint. JLL brokered the deal between Sidra Capital and Spear Street Capital, which retains the other 10 percent ownership in the campus.

December 3, 2020

Inwood-at-Renaissance-Square-Marlton-New-Jersey

Development Multifamily New Jersey Northeast

Canoe Brook, RD Management Begin Leasing 338-Unit Apartment Community in Marlton, New Jersey

by Taylor Williams December 3, 2020

MARLTON, N.J. — A partnership between Canoe Brook Development and RD Management has begun leasing Inwood at Renaissance Square, a 338-unit luxury apartment community in Marlton, located outside Philadelphia. The property offers studio, one- and two-bedroom units ranging in size from 602 to 1,238 square feet. Units feature custom cabinetry, quartz countertops and backsplashes, stainless steel appliances and individual washers and dryers. Communal amenities include a pool, fitness center, conference room, golf lounge and simulator and an onsite public park with a playground and dog run. Rents start at approximately $1,500 per month for a studio apartment.

December 3, 2020

Industrial Leasing Activity New Jersey Northeast

Colliers Negotiates 140,800 SF Industrial Sublease in Pennsauken, New Jersey

by Taylor Williams December 3, 2020

PENNSAUKEN, N.J. — Colliers International has negotiated a 140,800-square-foot industrial sublease at 500 Griffith Morgan Lane in Pennsauken, located outside Philadelphia in Southern New Jersey. Food subscription service Misfits Market, which recently relocated to a new build-to-suit facility in Delanco, New Jersey, is subleasing the space to California-based Maxon Auto Corp. The space features a clear height of 24 feet, 29 loading doors and three drive-in doors. Ian Richman and Marc Isdaner of Colliers represented Misfits Market in the transaction.

December 3, 2020

Industrial Leasing Activity NAI New Jersey Northeast

NAI James Hanson Arranges 110,000 SF Industrial Lease in North Bergen, New Jersey

by Taylor Williams December 3, 2020

NORTH BERGEN, N.J. — NAI James Hanson has secured a 110,000-square-foot industrial lease at 7300 West Side Ave. in North Bergen, located across the Hudson River from Upper Manhattan. The property currently spans 130,000 square feet, but the landlord plans to remove 20,000 square feet of mezzanine-level office space in order to create more 24-foot clear heights throughout the building. Scott Perkins, Tom Vetter, Jeff DeMagistris and Chris Todd of NAI James Hanson represented the landlord, Link Logistics Real Estate, in the lease negotiations. Wenying “Linda” Tan of Oxford Property Group USA represented the tenant, shipping company High May Inc.

December 3, 2020

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