Property Type

CIM Group Tops Out 235,000 SF Office Building in Boston’s South End

by Taylor Williams July 8, 2020

BOSTON — Los Angeles-based CIM Group, in partnership with local developer Nordblom Co., has topped out 321 Harrison, a 235,000-square-foot office building located in Boston’s South End neighborhood. The eight-story building is being constructed above a three-story parking garage that also serves the development team’s neighboring 11-story building at 1000 Washington St. The two office buildings will share amenities such as a fitness center, café, bike storage space and lounge areas. Construction of the new building is expected to be complete by the end of the year.

July 8, 2020

Development Massachusetts Multifamily Northeast

Callahan Construction Completes 220-Unit The Cove Apartments in Hingham, Massachusetts

by Taylor Williams July 8, 2020

HINGHAM, MASS. — General contractor Callahan Construction Managers has completed The Cove, a 220-unit apartment project in Hingham, a southern suburb of Boston. Units feature kitchen islands with breakfast bars, walk-in closets, stainless steel appliances and tile backsplashes, as well as balconies and gas fireplaces in select units. Communal amenities include a media lounge, a clubroom with beer and wine taps, rooftop lounge with a bar and fireplace, fitness center with a yoga studio, two conference rooms, a pool and outdoor grilling areas. Alliance Residential Co. developed the project, and Cube 3 Architects designed it.

July 8, 2020

Leasing Activity New York Northeast Retail

Target Signs 89,781 SF Retail Lease in Port Chester, New York

by Taylor Williams July 8, 2020

PORT CHESTER, N.Y. — Target has signed an 89,781-square-foot retail lease to occupy a two-story space at Gateway Port Chester, a 494,000-square-foot, open-air retail center located near the New York-Connecticut border. An opening date has not yet been determined. Jessica Curtis of CBRE represented the landlord, a partnership between M&J Wilkow and MetLife Investment Management, in the lease negotiations. Jeff Howard of Ripco represented Target. Other tenants at the center include HomeGoods, Ulta Beauty and Old Navy.

July 8, 2020

Acquisitions Multifamily South Carolina Southeast Top Stories

Southwood Realty Acquires 1,120-Unit Apartment Portfolio in South Carolina for $146M

by Kristin Harlow July 8, 2020

GREENVILLE, HARDEEVILLE AND IRMO, S.C. — Southwood Realty has acquired a four-property apartment portfolio totaling 1,120 units across South Carolina for $146 million. The four communities include Ardmore at the Park and Ardmore Howell Road in Greenville, Ardmore New River in Hardeeville and Ardmore Ballentine in Irmo. Each of the properties features amenities such as a pool, fitness center, playground, business center and grilling area. Austin Green and Caleb Troop of Capstone Apartment Partners represented the seller, Greensboro, N.C.-based Ardmore Residential. The team also procured the Gastonia, North Carolina-based buyer. “We continue to see demand from investors for well-located, new-construction garden product across the Carolinas,” says Troop. “Multifamily investment throughout in-migration markets like Greenville, Charleston, Columbia and Hilton Head has weathered the pandemic storm quite well this year.” The 305-unit Ardmore at the Park sold for $39.8 million and has been renamed Palisades at the Park. Built in 2017, it was 95 percent occupied at the time of sale. Ardmore Howell Road, now renamed Palisades at Howell Road, sold for $33.3 million. Built in 2016, it was 90 percent leased at the time of closing. Located less than 25 miles from the Atlantic Coast, Ardmore New River sold for $35.1 …

July 8, 2020

Austin multifamily occupancy rent growth

Content Partner Features Lument Multifamily RED Capital Group Texas Texas & Oklahoma Feature Archive

Austin: The Right Place at the Right Time for Multifamily Sector

by Sarah Daniels July 8, 2020

“After COVID-19, nothing ever will be the same,” has become a common refrain these days. Perhaps for the next decade or so, every important life choice will be made with public health and safety concerns in mind — and the most commonly chosen solutions will be meaningfully different than before. Among the most fundamental life choices subject to this new scrutiny will be where to live, how to make a living and how to safely move about. Many Americans will opt for less densely populated neighborhoods, increased work-from-home opportunities and private transportation options. When the time arrives to put plans into action, however, most will elect to take small steps rather than a giant leap. Perhaps the high-rise apartment and subway ride to a co-working space can be sacrificed, but not at the expense of convenience, access to nightlife and entertainment and career prospects. Urbanity isn’t out of style, but its form will mutate. Some U.S. metros will struggle to adapt, including a few primary markets. Others seem to be attuned to the times, blessed with all of the now prized attributes already in place. None is more perfectly positioned than Austin. Austin checks all the boxes. It is less …

July 8, 2020

Acquisitions Georgia Multifamily Southeast

Radco Sells Multifamily Community in Atlanta for $49.5M

by Alex Tostado July 7, 2020

ATLANTA — The Radco Cos. has sold Ashford 2788, a 297-unit multifamily community in Atlanta, for $49.5 million. The firm acquired the property in 2014 and renovated the community to include a new clubhouse, fitness center and dog park. Other communal amenities include a pool, grilling area, playground and a business center. The Atlanta-based company also renovated unit interiors and property exteriors. Ashford 2788 features two- and three-bedroom floor plans. The community is situated in Atlanta’s Upper Westside neighborhood at 2788 NW Defoors Ferry Road, eight miles northwest of downtown Atlanta. Robert Stickel, Mike Kemether, Travis Presnell and Alex Brown of Cushman & Wakefield represented the seller in the transaction. Quintus Corp. acquired the property.

July 7, 2020

Development Retail Southeast Virginia

Development Group to Build New Earth Fare Grocery Store in Christiansburg, Virginia

by Alex Tostado July 7, 2020

CHRISTIANSBURG, VA. — A group of developers will build a new prototype of the specialty grocer in Christiansburg. Walt Rector, founding principal of Flagstaff, Ariz.-based Bromont Investments, and investment partner Chris Carlsen, are leading the development of the Earth Fare, which will be located within Christiansburg Marketplace. The new store will feature a smaller footprint than previous Earth Fare stores. Fletcher, N.C.-based Earth Fare closed all of its 46 stores and filed for bankruptcy in February. Randy Talley, cofounder of the original Earth Fare, and Dennis Hulsing, an Asheville, N.C.-based investor, teamed up to acquire shuttered Earth Fare locations in mid-April, as well as the grocer’s trade name. The Christiansburg location is slated to open in spring 2021. The investors have also recently reopened closed Earth Fare stores in Roanoke, Va.; and Asheville and Boone, N.C. Other tenants at Marketplace at Christianburg include AspenDental, Chipotle, Elegant Nails, Harbor Freight, Mission BBQ, Orangetheory Fitness, Sandros, Skyline Bank, Starbucks and Verizon.

July 7, 2020

Company News Leasing Activity Maryland Office Southeast

Armada Hoffler, WeWork Agree to Terminate 69,000 SF Office Lease in Baltimore

by Alex Tostado July 7, 2020

BALTIMORE — Armada Hoffler Properties and WeWork have mutually agreed to terminate WeWork’s 69,000-square-foot office lease at Wills Wharf in Baltimore’s Harbor Point neighborhood. The New York City-based coworking company was slated to occupy the top two stories of the office portion of Wills Wharf. A Canopy by Hilton hotel will be situated on the top four floors of the 12-story, 325,000-square-foot building. Armada Hoffler has begun marketing the space again to join other office tenants, which include EY, Jellyfish and Bright Horizons. WeWork also terminated its lease with landlord Columbia Property Trust at 189 Madison Ave. in New York City.

July 7, 2020

Acquisitions Mississippi Retail Southeast

SRS Negotiates Sale of 60,835 SF Retail Property in Starkville, Mississippi

by Alex Tostado July 7, 2020

STARKVILLE, MISS. — SRS Real Estate Partners has negotiated the sale of a 60,835-square-foot retail property in Starkville. Vowell’s Marketplace, a regional grocery store, fully occupies the building with two years remaining on its corporate-guaranteed lease. The property was built in 1992 and is located at 118 Mississippi Highway 112, less than one mile from downtown Starkville and less than two miles west of Mississippi State University. Britt Raymond, Kyle Fant, Matthew Mousavi, Patrick Luther and Martin Smith of SRS represented the seller, a New York-based private investor. The buyer was a private investor from Starkville.

July 7, 2020

Acquisitions Industrial Southeast Virginia

Direct Mail Solutions Acquires Industrial Building in Richmond for $9.4M

by Alex Tostado July 7, 2020

RICHMOND, VA. — Richmond-based Direct Mail Solutions has acquired a 229,829-square-foot industrial building in Richmond for $9.4 million. The property features ESFR sprinklers and 38-foot clear heights. The property spans 23.8 acres and is located at 4650 Oakleys Lane, seven miles east of downtown Richmond. Cliff Porter and Robert Porter III of Porter Realty Co. Inc. represented the seller, 4650 Oakleys Lane LLC, in the transaction.

July 7, 2020

Newer Posts

Older Posts