Property Type

Joint Venture Breaks Ground on $44.8M Apartment Complex in Metro Raleigh

by Alex Tostado February 20, 2020

HOLLY SPRINGS, N.C. — A joint venture between Dominion Realty Partners, Amzak Capital Management and Kite Realty Group has broken ground on Holly Springs Apartments, a planned 239-unit complex in Holly Springs. The property will offer communal amenities such as a pool, multiple outdoor fireplaces, dog park and a 24-hour fitness center with a yoga and cycle room. Unit interiors will include nine-foot ceilings, decorative pendant lighting, quartz countertops, stainless steel appliances, subway tile backsplash and vinyl plank hardwood floors. United Bank is providing financing for the project, which is expected to cost $44.8 million to develop. Rule Joy Trammell + Rubio is the architect, Armada Hoffler Construction is the general contractor and Piedmont Land Design is the project’s civil engineer. The developers expect to deliver the first units and clubhouse by the end of 2021.

February 20, 2020

Development Florida Retail Southeast

Ferber to Develop 250,000 SF Shopping Center Near Jacksonville

by Alex Tostado February 20, 2020

ST. JOHNS, FLA. — The Ferber Co. will develop Durbin Creek Crossing, a 70-acre shopping center in the south Jacksonville suburb of St. Johns. Ferber is scheduled to break ground this summer and expects to deliver the asset by fall 2021. The property will offer 250,000 square feet of retail space across 10 outparcels sized between 0.8 and 2.6 acres. Ferber has signed Aldi to a 19,000-square-foot lease. Other tenants coming to Durbin Creek Crossing include ABC Fine Wine & Spirits, First Florida Credit Union and Tire Kingdom. Nancy Sumner and Katy Figg of Colliers International are handling the leasing efforts on behalf of Ferber. The site is located at the corner of St. Johns Parkway and Racetrack Road, 21 miles south of downtown Jacksonville. The remaining 22 acres of wetlands at the southern portion of the site will serve as an environmental buffer protected by a conservation land use designation for the single-family communities south of the site.

February 20, 2020

Acquisitions District of Columbia Hospitality Southeast

Park Hotels Sells Embassy Suites by Hilton Hotel in D.C.’s Georgetown District for $90.4M

by Alex Tostado February 20, 2020

WASHINGTON, D.C. — Park Hotels & Resorts Inc. has sold the Embassy Suites by Hilton Washington DC Georgetown, a 197-room hotel in Washington, D.C., for $90.4 million. The property is situated at 1250 22nd St. NW in Georgetown, one mile west of downtown D.C. The hotel offers an indoor pool, fitness center, arcade, complimentary breakfast, baggage storage and a business center. The buyer was EOS Investors LLC.

February 20, 2020

Development Industrial Texas

Ascendant Commercial Buys Land in South Fort Worth for 2.2 MSF Industrial Project

by Taylor Williams February 20, 2020

FORT WORTH, TEXAS — Ascendant Commercial, a Dallas-based investment and development firm, has purchased land at the northwest corner of Interstate 35 and State Highway 1187 in south Fort Worth for a 2.2 million-square-foot industrial project. Construction of Phase I of the project is expected to commence this summer and to feature an 850,000-square-foot speculative distribution center. Delivery is slated for May 2021. CBRE is handling leasing of the new facility.

February 20, 2020

Company News Office Texas

Cushman & Wakefield Acquires Houston-Based Colvill Office Properties

by Taylor Williams February 20, 2020

HOUSTON — Cushman & Wakefield has acquired Colvill Office Properties, a Houston-based provider of office agency leasing services. The company currently oversees marketing and leasing efforts for roughly 17 million square feet of Class A office space throughout the Houston area. The Colvill portfolio includes more than 30 individual properties in the central business district, Energy Corridor/Katy Freeway, Galleria/Uptown, Westchase, West Belt, Springwoods and Inner Loop submarkets. Colvill CEO and president Chip Colvill will join Cushman & Wakefield as executive vice chairman.

February 20, 2020

Development Multifamily Texas

KWA Construction Tops Out 258-Unit Kilby Apartment Community in Frisco Square

by Taylor Williams February 20, 2020

FRISCO, TEXAS — KWA Construction has topped out Kilby, a 258-unit apartment community located within the $600 million Frisco Square mixed-use development north of Dallas. Designed by BGO Architects and developed by Toll Brothers Apartments, the property will offer a clubroom, conference lounge, gaming lounge, two-story fitness center with a yoga deck, pet spa and an outdoor patio with grills surrounding a resort-style pool. Completion is scheduled for late 2020.

February 20, 2020

Development Midwest Multifamily Ohio

KTGY Architecture + Planning Unveils Design for 344-Unit Apartment Project in Downtown Cincinnati

by Kristin Harlow February 20, 2020

CINCINNATI — KTGY Architecture + Planning has unveiled the design for Artistry Cincinnati, a 344-unit apartment project located along the Ohio River in downtown Cincinnati. The seven-story building, located at 601 E. Pete Rose Way, is currently under construction and is scheduled for completion in late 2021. Milhaus is the developer. Features of the property include a second-floor amenity space offering direct access to an exterior courtyard, a 2,500-square-foot outdoor gallery that will house large-scale art installations, and access to the river and adjacent park. Amenities will include a rooftop pool, fitness center, yoga studio, pet spa, community garden, coworking spaces and bike storage. Plans also call for 390 parking spaces and 8,000 square feet of commercial space. Floor plans will range from studios to three-bedroom units. The project is situated at 601 E. Pete Rose Way.

February 20, 2020

Development Michigan Midwest Multifamily Student Housing

Trinitas to Break Ground on 682-Bed Student Housing Community Near University of Michigan

by Kristin Harlow February 20, 2020

ANN ARBOR, MICH. — Trinitas Ventures is set to break ground on The One, a 682-bed student housing community located near the University of Michigan campus in Ann Arbor. The development will offer one-, two-, three-, four- and five-bedroom, cottage-style units. Shared amenities will include a fitness center, business center, game room, resort-style swimming pool, fire pit, private study lounges, basketball and volleyball courts and a shuttle service to campus. A Trinitas-managed investment entity has provided equity financing for the project, and PNC Bank is providing construction financing. A timeline for the development, located at 2601 Pontiac Trail, has yet to be announced.

February 20, 2020

Loans Midwest Office Ohio

Tremont Mortgage Trust Provides $22.8M Bridge Loan for Refinancing of Office Campus in Dublin, Ohio

by Kristin Harlow February 20, 2020

DUBLIN, OHIO — Tremont Mortgage Trust has provided a $22.8 million first-mortgage bridge loan for the refinancing of The Blazer Plaza, a three-building office and lab campus in Dublin, a northwest suburb of Columbus. The property spans 519,000 square feet on 54 acres. The floating-rate loan includes initial funding of $12.1 million and a future funding allowance of approximately $10.7 million for tenant improvements. The loan is structured with a two-year initial term and a one-year extension option. The borrower was undisclosed.

February 20, 2020

Illinois Industrial Leasing Activity Midwest

EVBox Signs 60,000 SF Lease for North American Headquarters in Libertyville, Illinois

by Kristin Harlow February 20, 2020

LIBERTYVILLE, ILL. — EVBox has signed a 60,000-square-foot lease for its first North American headquarters and production facility located in Libertyville, about 40 miles north of Chicago. EVBox, which is a manufacturer of electric vehicle charging stations and charging management software, will occupy the space within the Innovation Park campus. The facility is expected to create between 80 and 120 new jobs in the immediate region. Operations will commence this summer. Based in Amsterdam, EVBox currently maintains U.S. offices in New York City, San Francisco and Los Angeles.

February 20, 2020

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