Property Type

CenterPoint Adds 126,000 SF Last-Mile Industrial Facility to Its Seattle-Area Portfolio

by Amy Works November 30, 2020

AUBURN, WASH. — CenterPoint has acquired an industrial property located at 1701 Pike Street in Auburn. Terms of the transaction were not released. Located approximately 15 miles from Seattle-Tacoma International Airport and the Port of Tacoma, the 126,000-square-foot property features 26-foot clear heights, 20 dock-high loading positions and three points of access. CenterPoint plans to make the property available for lease after a full repositioning, including an office refresh. The building is currently occupied under a short-term lease that expires in December 2021. Tony Miltenberger and Matt Wood of KBC Advisors and Matt Murray of Kidder Mathews brokered the transaction and will market the property as available for lease.

November 30, 2020

Acquisitions Company News New Jersey New York Northeast Retail Top Stories

Premium Apparel Agrees to Acquire Multiple Clothing Brands from Ascena Retail Group for $540M

by Taylor Williams November 30, 2020

NEW YORK CITY AND MAHWAH, N.J. — Premium Apparel LLC, an affiliate of New York City-based private equity firm Sycamore Partners, has entered into an agreement to purchase multiple clothing brands from Mahwah-based Ascena Retail Group (OTCMKTS: ASNAQ) for $540 million. The apparel and footwear brands in question include Ann Taylor, LOFT, Lane Bryant and Lou & Grey. Under the terms of the deal, which is expected to close by mid-December, Premium Apparel will acquire the brands on a cash-free and debt-free basis. Premium Apparel did not specify how many of brick-and-mortar stores will be affected by the transaction, but the new ownership did say that it remains committed to retaining a “substantial portion” of stores and employees affiliated with these brands. “Ann Taylor, LOFT, Lane Bryant and Lou & Grey are well-known brands, each with passionate associates and loyal customers,” says Stefan Kaluzny, managing director of Sycamore Partners. “These brands have significant potential, and we are excited about the opportunity to partner with Ascena’s talented team to continue delivering new and relevant experiences for customers.” Ascena Retail Group, which operated about 1,500 stores throughout the country as of late August, filed for Chapter 11 bankruptcy in July. In September, …

November 30, 2020

Acquisitions Industrial Southeast Virginia

Phoenix Investors Acquires 760,000 SF Industrial Plant in Lynchburg, Virginia

by Alex Tostado November 25, 2020

LYNCHBURG, VA. — Phoenix Investors has acquired the former LSC Communications Printing Co. Inc. plant in Lynchburg. The 760,000-square-foot property is situated on 50 acres at 4201 Murray Place. The asset features 32 dock doors, 62 slots for trailer storage, 523 passenger parking spots, eight drive-in doors and two interior rail spurs supported by Norfolk Southern. The property has sat vacant since LSC filed for Chapter 11 bankruptcy after the U.S. Department of Justice blocked a proposed merger with Quad Graphics. Daniel Knopf and Armando Nuñez of CBRE represented the buyer in the transaction. LSC sold the asset for an undisclosed price. Milwaukee-based Phoenix Investors also acquired a 1 million-square-foot former tire plant of Titan International Inc. in Brownsville, Texas.

November 25, 2020

Acquisitions Multifamily South Carolina Southeast

Berkadia Negotiates $33.3M Sale of Multifamily Community in North Charleston

by Alex Tostado November 25, 2020

NORTH CHARLESTON, S.C. — Berkadia has negotiated the $33.3 million sale of Palmetto Creek Townhomes, a 260-unit multifamily community in North Charleston. The property offers one-, two- and three-bedroom floor plans, 75 percent of which were recently renovated. According to Apartments.com, rents range from $1,000 per month to $1,175. Communal amenities include a pool, fitness center, playground and a grilling area. Palmetto Creek is situated at 3311 Mountainbrook Ave., 16 miles northwest of downtown Charleston. Mark Boyce and Blake Coffey of Berkadia represented the seller, Dallas-based Lurin Capital, in the transaction. Washington, D.C.-based Brick Lane acquired the asset.

November 25, 2020

Acquisitions Florida Retail Southeast

JLL Arranges $26.3M Sale of Publix-Anchored Shopping Center in Metro Orlando

by Alex Tostado November 25, 2020

KISSIMMEE, FLA. — JLL has arranged the $26.3 million sale of Osceola Village, a 122,845-square-foot, Publix-anchored shopping center in Kissimmee. The center, which was delivered in 2008, was 82 percent leased at the time of sale to tenants including DaVita Kidney Care, Orlando Health and Visionworks. The asset is situated on 20 acres at 3040 Dyer Blvd., 22 miles south of downtown Orlando. Brad Peterson, Whitaker Leonhardt and Tommy Isola of JLL represented the seller, an affiliate of Glenborough LLC, in the transaction. New York City-based East Coast Acquisitions purchased the property.

November 25, 2020

Georgia Leasing Activity Retail Southeast

Artisan Pop-Up Market to Open Within Buckhead Village in Atlanta

by Alex Tostado November 25, 2020

ATLANTA — Village Supply, a pop-up market focusing on women- and minority-owned businesses, will open within Buckhead Village in Atlanta. Vendors will be able to showcase their products at the store, which is situated at 272 Buckhead Ave., between Warby Parker and Bella Cucina. The store will be open from 10 a.m. to 7 p.m. Thursday to Saturday, and from noon to 5 p.m. Sundays. The vendor lineup will rotate regularly. The initial lineup includes Cheese Me, which is open through November; Made Leather Co. and Botanical Safari, which will open Black Friday and remain in the store until January 2021; and BreezKakes, which will be open from Dec. 3 to 6. Jamestown acquired Buckhead Village in July 2019. The 355,646-square-foot property was built in 2014 and features office, retail and restaurant space. The office space is leased to Spanx and No18 coworking. Retailers include Hermes and Tom Ford, as well as entertainment and fitness concepts.

November 25, 2020

Civic Development Retail Texas

Major League Cricket To Develop First Stadium in Grand Prairie, Texas

by Taylor Williams November 25, 2020

GRAND PRAIRIE, TEXAS — Major League Cricket (MLC) has received approval from the City of Grand Prairie on a long-term lease agreement to redevelop the 5,445-seat AirHogs Stadium in Grand Prairie into the organization’s first major cricket venue in the United States. The stadium is currently the home field of the Texas Airhogs Minor League Baseball team. The project will increase the seating capacity to accommodate more than 8,000 spectators with additional and upgraded hospitality features and amenities. International architecture firm HKS has been tapped to design the project. Upon completion in 2022, the venue will house the Dallas franchise of MLC, as well as the headquarters of USA Cricket, the sport’s national governing body. MLC plans to launch its inaugural season in 2022, with the stadium expected to be ready for cricket by the spring of that year.

November 25, 2020

Loans Multifamily Seniors Housing Texas

Ziegler Arranges $77.1M Bond Financing for Seniors Housing Expansion in Dallas

by Taylor Williams November 25, 2020

DALLAS — Ziegler has arranged $77.1 million of bond financing for Presbyterian Village North, a continuing care retirement community in North Dallas. The proceeds of the bonds will finance an expansion project that will add 112 new independent living units in a five-story building named The Hawthorne. The community sits on a 66-acre campus and currently consists of 89 buildings with 253 independent living units, 101 assisted living units, 44 memory care units and a health center operating 106 skilled nursing beds. Of the 97 units being marketed, 72 percent are already pre-sold. The project also includes renovations to the community’s existing common areas.

November 25, 2020

Development Hospitality Texas

Hyatt Opens 219-Room Thompson Hotel in Downtown Dallas

by Taylor Williams November 25, 2020

DALLAS — Hyatt Hotels Corp. (NYSE: H) has opened the 219-room Thompson Hotel in downtown Dallas, the first property under the Thompson lifestyle brand in Texas. Designed by Merriman/Anderson Architects, the hotel is the product of a redevelopment of a historic building at 205 N. Akard St. The property’s 219 rooms include 52 suites and two penthouses, and guests can also enjoy access to two onsite culinary destinations.

November 25, 2020

Acquisitions Multifamily Texas

Colliers Negotiates Sale of 230-Unit Ridge at Trinity Apartments in Southeast Dallas

by Taylor Williams November 25, 2020

DALLAS — Colliers International has negotiated the sale of Ridge at Trinity Apartments, a 230-unit affordable housing community in southeast Dallas. The property, which consists of 19 buildings on 17.4 acres, was built in 1970 and renovated between 2015 and 2019. Amenities include a leasing office, onsite laundry facilities and open green spaces with playgrounds. Mark Allen and Courtland Charles of Colliers represented the seller, affordable housing owner-operator Hope Housing, in the transaction. The buyer and sales price were not disclosed.

November 25, 2020

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