Property Type

Rooms To Go Signs 60,000 SF Office Lease in Atlanta’s Central Perimeter Submarket

by Alex Tostado July 20, 2020

ATLANTA — Rooms To Go has signed a 60,000-square-foot lease to relocate its Atlanta office to the city’s Central Perimeter submarket. The furniture company will move to Perimeter Summit, a 1.7 million-square-foot office campus located at 4004 Summit Blvd., 15 miles north of downtown Atlanta. Rooms To Go’s Atlanta office was previously located in Dunwoody. The company is based in Seffner, Fla. Other tenants at Perimeter Summit include IBM, Cox Automotive, Northside Hospital and Verizon. Bryan Heller and Sabrina Gibson of CBRE, as well as Randy Holmes and Andrew Pearson of Seven Oaks Co., represented the landlord, Seven Oaks and GE. David Rubenstein, John Flack and Bo Keatley of Savills represented the tenant in the lease negotiations.

July 20, 2020

Florida Industrial Loans Office Southeast

Alliant Credit Union Provides $16.2M Refinancing Loan for Industrial, Flex Property in Jacksonville

by Alex Tostado July 20, 2020

JACKSONVILLE, FLA. — Alliant Credit Union has provided a $16.2 million refinancing loan for a 194,000-square-foot industrial/flex property in Jacksonville. The five-year, non-recourse loan has a 30-year amortization schedule. The building was 90 percent leased at the time of the refinancing to tenants including Konica Minolta and Fresenius Medical Care. The asset is situated at 9143 Philips Highway, 14 miles south of downtown Jacksonville. Jacob Cohen of Walker & Dunlop originated the loan on behalf of the undisclosed borrower.

July 20, 2020

Development Multifamily Texas

High Street Residential Breaks Ground on 43-Story Apartment Tower in Downtown Houston

by Taylor Williams July 20, 2020

HOUSTON — High Street Residential, a subsidiary of Trammell Crow, has broken ground on a 43-story apartment tower that will be located at 808 Crawford St. in downtown Houston, adjacent to the 12-acre Discovery Green urban park. The property will house one-, two- and three-bedroom floor plans, as well as 16 two-story townhomes and four two-story penthouses for a total of 309 units. Residences will feature floor-to-ceiling windows, quartz countertops and custom cabinetry. Amenities will include a rooftop pool and lounge area, clubroom with a catering kitchen, business center with coworking space, fitness center and a yoga terrace, indoor pet spa and a complimentary coffee bar, as well as package and concierge services. Completion is slated for late 2022.

July 20, 2020

Development Multifamily Seniors Housing Texas

Investcor Completes Renovations of Historic Fairhaven Assisted Living Facility in Denton

by Taylor Williams July 20, 2020

DENTON, TEXAS — Investcor has completed the renovation of Fairhaven Assisted Living, a historic seniors housing building in Denton. The development team for the 47-unit project included Pi Architects, Coastal Reconstruction, Allison Engineering, TDi Engineering, MEP Associates Design Groups and Architexas. The original building was designed by Texas architect O’Neil Ford, whose designs blended the surrounding environment into the building and featured the use of natural elements and materials. Fairhaven was originally developed in the 1950s, but closed in 2007 and fell into disrepair. After teaming with New Haven Assisted Living and Memory Care, Investcor launched the renovation a year ago.

July 20, 2020

Company News Retail Texas

Younger Partners Launches New Division for Retail Acquisitions

by Taylor Williams July 20, 2020

DALLAS — Younger Partners, a Dallas-based full-service real estate firm, has launched a new division for the acquisition of retail properties throughout the metroplex. Micah Ashford, a 20-year industry veteran and former partner at retail investment and brokerage firm Dunhill Partners, will lead the new division. Younger Partners considers the creation of a retail acquisitions team to be a critical part of its long-term strategy and believes that opportunities to buy distressed assets and create value will present themselves in the aftermath of the COVID-19 pandemic.

July 20, 2020

Acquisitions Office Texas

Marcus & Millichap Arranges Sale of 64,400 SF Office Building in Irving

by Taylor Williams July 20, 2020

IRVING, TEXAS — Marcus & Millichap has arranged the sale of 1400 Corporate Drive, a 64,400-square-foot office building in Irving. The three-story, Class B property was built in 1983. Ron Hebert of Marcus & Millichap represented the seller an individual/personal trust, in the transaction. Hebert also procured the buyer, a private investor. Both parties requested anonymity.

July 20, 2020

Acquisitions Multifamily Seniors Housing Texas

SLIB Negotiates Sale of 60-Bed Skilled Nursing Facility in Johnson City, Texas

by Taylor Williams July 20, 2020

JOHNSON CITY, TEXAS— Senior Living Investment Brokerage (SLIB) has negotiated the sale of LBJ Medical Center, a 60-bed skilled nursing facility in Johnson City, approximately 45 miles west of Austin. The property was built on 2.6 acres in 1989 and totals 16,045 square feet. A local owner-operator exiting the seniors housing industry sold the asset to a regional owner-operator based in Texas that will implement a capital improvements program. Matthew Alley of SLIB arranged the transaction.

July 20, 2020

California Loans Multifamily Western

PSRS Secures $19M Refinancing for Manufactured Housing Community in Riverside, California

by Amy Works July 20, 2020

RIVERSIDE, CALIF. — PSRS has secured $19 million in refinancing for Riverside Meadows, a 358-unit manufactured home community in Riverside. Michael Tanner and Jonny Soleimani of PSRS’ Los Angeles office arranged the non-recourse loan that features a 10-year term and 30-year amortization schedule. Situated among the 15, 60 and 215 freeways, Riverside Meadows features mostly double-wide lots and an array of amenities.

July 20, 2020

Acquisitions Colorado Net Lease Retail Western

Marcus & Millichap Arranges $6.9M Sale of Three-Property Brakes Plus Retail Portfolio in Colorado

by Amy Works July 20, 2020

AURORA AND HIGHLANDS RANCH, COLO. — Marcus & Millichap has arranged the sale of a three-building retail portfolio in Colorado. Chi Chis of Colorado Springs LLLP sold the portfolio to The Kathleen Ann Ross Trust, a local private capital investor, for $6.9 million. The properties are located at 16770 E. Iliff Ave. and 24550 E. Smoky Hill Road in Aurora and 9297 S. Broadway in Highlands Ranch. Brakes Plus occupies each building and all three properties have 17 years remaining on the primary term of their absolute triple-net leases. Drew Isaac and Brian Bailey of Marcus & Millichap represented the seller in transaction.

July 20, 2020

Acquisitions Arizona Industrial Western

DAUM Negotiates Purchase of Two Industrial Buildings Near Phoenix for $4.9M

by Amy Works July 20, 2020

GOODYEAR, ARIZ. — DAUM Commercial Real Estate Services has arranged the acquisition of two industrial properties totaling nearly 36,500 square feet in Goodyear, a western suburb of Phoenix. A private investor acquired both buildings for a total of $4.9 million. The two properties feature warehouse and office space, truck wells, grade-level doors, PAD zoning, fenced yards and at least 20-foot clear heights. The assets are located at the intersection of North 137th Avenue and West Auto Drive in Palm Valley Crossing, a larger development that Hopewell Development completed earlier this year. Trevor McKendry and Chris Rogers of DAUM’s Phoenix office represented the buyer in the deal.

July 20, 2020

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