Property Type

PhotoShelter Signs 23,300 SF Office Headquarters Lease in Manhattan’s Financial District

by Alex Patton May 29, 2020

NEW YORK CITY — PhotoShelter, a photography and videography support service, has signed a 23,300-square-foot office lease for its new headquarters in Manhattan’s Financial District. The space is located on the 19th floor of 111 Broadway, a 22-story, Class A office building constructed in 1905. Amenities include a fitness center, indoor swimming pool and outdoor lounge. The 484,901-square-foot building and its neighboring tower at 115 Broadway are collectively known as Trinity Centre. Montroy DeMarco Architecture LLP designed PhotoShelter’s office build-out. Capital Properties own the building. CBRE is the building’s leasing agent.

May 29, 2020

Development Massachusetts Multifamily Northeast

Beacon Communities Plans 55-Unit Expansion Project at Boston Multifamily Community

by Alex Patton May 29, 2020

BOSTON — Beacon Communities Development is planning a 55-unit expansion of The Anne M. Lynch Homes at Old Colony, a 51,000-square-foot affordable housing community in South Boston. Located at 25 James O’Neil St., the 245-unit community is part of a larger 400-unit property called The Homes at Old Colony. The new units will be reserved for low-income seniors. The Architectural Team designed the project. Beacon Communities expects to begin construction this summer and to complete the project in 2022.

May 29, 2020

Acquisitions Industrial Northeast Pennsylvania Self-Storage

Ideal Property Group Acquires Self-Storage Portfolio in Pennsylvania for $5.2M

by Alex Patton May 29, 2020

NEW YORK CITY — Ideal Property Group, a New York City-based investment firm, has acquired three-property portfolio of Stop & Store self-storage properties in Pennsylvania for $5.2 million. Located in in Dillsburg, York and Dover, the properties total 94,976 net rentable square feet and were 75.6 percent leased at the time of sale. The total number of units was not disclosed. Mike Mele, Robert Bloch and Noah Obuchowski of Cushman & Wakefield represented the seller, an individual private owner, in the transaction.

May 29, 2020

Acquisitions Georgia Loans Multifamily Southeast Walker & Dunlop

Walker & Dunlop Closes $44.3M Acquisition Financing for Multifamily Community in Gainesville, Georgia

by Alex Tostado May 29, 2020

GAINESVILLE, GA. — Walker & Dunlop provided a $44.3 million Freddie Mac acquisition loan for Century New Holland, a 348-unit multifamily community in Gainesville. The property, which was built in 2018, offers one-, two- and three-bedroom floor plans. Communal amenities include a dog park, car care detailing area, bocce ball court, picnic areas and grilling areas. The asset is located at 1465 Jesse Jewell Pasrkway NE, two miles north of downtown Gainesville and 57 miles northeast of downtown Atlanta. Centennial Holding Co. acquired the property from the undisclosed seller. Brian Moulder, Chris Goldsmith and Sean Williams of Walker & Dunlop represented the buyer in the sale transaction. Taylor Williams of Walker & Dunlop originated the fixed-rate loan, which features five years of interest-only payments.

May 29, 2020

Company News Healthcare North Carolina South Carolina Southeast

CVS Adds 70 COVID-19 Testing Sites in Carolinas

by Alex Tostado May 29, 2020

WOONSOCKET, R.I. — CVS/pharmacy has added 55 COVID-19 testing sites in North Carolina and 15 sites in South Carolina. The tests are accessible through appointments only. Patients will be required to stay in their cars and will be directed to the pharmacy drive-thru window, where they will be provided with a test kit and given instructions. A CVS team member will observe the self-swab process to ensure it is done properly. Tests will be sent to an independent, third-party lab for processing and the results will be available in approximately three days. In North Carolina, the 55 new sites are located in 29 cities, including seven sites in Charlotte, five in Raleigh, four in Cary, four in Durham, three in Fayetteville and three in Winston-Salem. In South Carolina, the locations are in Anderson, Charleston, Clemson, Columbia, Greenville, Mount Pleasant, Myrtle Beach, North Charleston, North Augusta, Spartanburg and West Columbia. With the 70 locations, Woonsocket-based CVS has now opened 986 testing sites in the country. Click here to see a full list of the locations.

May 29, 2020

Acquisitions Loans Multifamily South Carolina Southeast

Hunt Real Estate Provides $21.5M Acquisition Loan for Apartment Complex in North Charleston

by Alex Tostado May 29, 2020

NORTH CHARLESTON, S.C. — Hunt Real Estate Capital has provided a $21.5 million Freddie Mac acquisition loan for Greenwood at Ashley River, a 280-unit, garden-style apartment complex in North Charleston. The community comprises 35 residential buildings and a clubhouse. The 262,896-square-foot property offers two- and three-bedroom floor plans. Communal amenities include a full-size soccer field, pool, playground, basketball court, business center and a dog park. The property is situated at 6520 Dorchester Road, 12 miles north of downtown Charleston. The 10-year acquisition loan features five years of interest-only payments followed by a 30-year amortization schedule. John Beam and Keith Morris of Hunt Real Estate originated the loan on behalf of the borrower, Brick Lane, which acquired the complex from Atlanta-based The RADCO Cos.

May 29, 2020

Florida Retail Southeast

Hard Rock Stadium in Miami Gardens to Transform into Drive-In Movie Theater

by Alex Tostado May 29, 2020

MIAMI GARDENS, FLA. — With sports absent from Americans’ daily lives due to the COVID-19 outbreak, Hard Rock Stadium in Miami Gardens has pivoted to offer a drive-in movie theater. The 65,000-seat stadium is home to the NFL’s Miami Dolphins and college football’s University of Miami Hurricanes. The field will be able to hold up to 230 cars and the open-air theater will host small groups. Events throughout Dolphins’ team history, family-friendly movies and even commencement ceremonies will be shown. Food and beverages can be purchased through an online system and delivered to cars. Those wanting to participate can click here to put their names on an email list for when tickets become available.

May 29, 2020

Development Florida Office Southeast

DIX Developments to Construct $9M Office Campus in Northeast Orlando

by Alex Tostado May 29, 2020

ORLANDO, FLA. — DIX Developments LLC will construct University Econ Executive Center, a planned $9 million office campus in Orlando. The property will offer 1,520-square-foot office condos, a 4,640-square-foot medical office building and a 20,000-square-foot spec office building. John Kurtz of Stirling International Real Estate is handling the leasing efforts on behalf of the developer and will target users seeking headquarters space. DIX Developments has nearly completed two of the office condos and is making preparations to break ground on the spec office building. A timeline for completion was not disclosed. The property is located at the corner of Econlockhatchee Trail and University Boulevard, four miles west of the University of Central Florida and 11 miles northeast of downtown Orlando.

May 29, 2020

Acquisitions Industrial Texas

CIM Group Acquires 1.1 MSF Junction 20/35 Logistics Center in Fort Worth

by Taylor Williams May 29, 2020

FORT WORTH, TEXAS — Los Angeles-based CIM Group has acquired Junction 20/35, a 1.1 million-square-foot logistics center located at 7550 Oak Grove Road in south Fort Worth The property was built in 1989 and has been renovated several times over the years, most recently in 2018 to include freezer and cold storage space. The sale also included an adjacent 14.4-acre parcel. The seller was not disclosed.

May 29, 2020

Development Multifamily Seniors Housing Texas

Civitas Completes Grandview of Chisholm Trail Seniors Housing Project in Fort Worth

by Taylor Williams May 29, 2020

FORT WORTH, TEXAS — Civitas Senior Living has completed construction of The Grandview of Chisholm Trail, a seniors housing community in southwest Fort Worth that features 66 assisted living units and 21 memory care residences. Partners on the project include co-developer Journey Capital, management company Civitas Senior Living, Arrive Architects, Ridgemont Commercial Construction and interior design firm Senior By Design.

May 29, 2020

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