DILLION, S.C. — Developer Marlboro Development Team Inc. has unveiled plans for a new, 253,800-square-foot industrial project in the I-95 Mega Site in Dillon, seven miles from the South Carolina-North Carolina state line. The 72-acre property within the site is scheduled for delivery in the third quarter of 2020. The facility will be designed for logistics and distribution, featuring cross-dock capabilities, 200-foot truck court depths, 36-foot clear heights, speed bays and expansion capability up to 650,000 square feet. Adjacent to I-95, the facility will be less than one mile from South Carolina Ports Authority’s (SCPA) Inland Port Dillon, which is CSX-railway served. Marlboro Development Team and its parent company, Marlboro Electric Cooperative, own nearly 4,000 acres surrounding Inland Port Dillon.
TAMPA, FLA. — Vesper Holdings has acquired 4050 Lofts, a 722-bed student housing community located at 4050 Rocky Circle, less than a mile from the University of South Florida in Tampa. Built in 2009, the property offers three- and four-bedroom, fully furnished units with bed-to-bath parity. Shared amenities include two swimming pools, a tanning dome, fitness center, aqua lounge, coffee bar, clubhouse, outdoor kitchen and a pool table. The new ownership plans to invest $1.4 million in capital improvements, which will include a renovation of unit interiors and shared amenity spaces, as well as extensive enhancements to the property’s exterior and technology upgrades throughout. The seller and terms of the transaction were not disclosed.
LAWRENCEVILLE, GA. — CW Capital has sold Village Shoppes of Sugarloaf, a 149,805-square-foot retail center in Lawrenceville, for $14.8 million. Publix anchors the property, which is located at 3330-3410 Sugarloaf Parkway, 30 miles northeast of downtown Atlanta. Village Shoppes was 63 percent leased at the time of sale. Scott Israel, Adam Sklaver and Phil Kates of CBRE represented the Bethesda, Md.-based seller in the transaction. Atlanta-based Branch Properties acquired the asset at a 5.5 percent cap rate.
ANDERSONVILLE, TENN. — Medical supply distributor HemaSource Inc. has leased 114,800 square feet of a newly developed industrial facility in Andersonville, 18 miles northwest of Knoxville. Built by The Hollingsworth Cos., the building is upfitted for high-volume distribution utilizing tax incentive financing. The remaining 13,100 square feet of the 127,900-square-foot building is office space already leased to metal supplier A&S Building Systems. The Hollingsworth facility has the capacity to expand to 172,600 square feet and features 32-foot clear heights and 12 dock doors.
WASHINGTON, D.C. — Whole Foods Market has signed a 40,000-square-foot retail lease to anchor the Hartley apartment building within The Parks at Walter Reed in northwest Washington, D.C. The Parks is a 3.1 million-square-foot mixed-use development from the partnership of Hines, Urban Atlantic and Triden Development. The Hartley will be the third new construction at the site, alongside two currently underway projects: The Brooks condominiums and the Vale apartments, featuring 18,000 square feet of retail. The Hartley features 323 rental units, including 32 affordable units, and 58,000 square feet of retail space. The apartment building will be part of the project’s Town Center, which will include 100,000 square feet of dining, shopping, and entertainment fronting Georgia Avenue. Construction on The Hartley is expected to begin in early 2020 with completion of the project set for early 2022. Torti Gallas + Partners is the architect for The Hartley, with interior design by Hickok Cole Lifestyle and landscape design by Oehme van Sweden. Retail broker CBRE + Streetsense will lease The Parks. The campus already contains a firehouse and schools, as well as housing for seniors and veterans.
PITTSBURGH — The parent company of First National Bank (FNB) has signed a 160,000-square-foot office lease to open its corporate headquarters at the upcoming FNB Financial Center development in downtown Pittsburgh. The development will feature a 24-story tower with 387,000 square feet of Class A office space, 20,000 square feet of retail space and a two-story parking structure. The FNB headquarters will anchor the tower and its technology branch will occupy 2,000 square feet of retail space. The tower will be situated on the site of the former Civic Arena, home of the Pittsburgh Penguins hockey team, which will comprise multiple structures and over 1 million square feet of office, residential, retail and green space. Buccini/Pollin Group and the Penguins are co-developers of the mixed-use development, which is slated for completion in 2022.
HOUSTON — Hines has begun construction on Phase II of Boulevard Oaks Business Park, a project that will deliver approximately 1.1 million square feet of industrial space across six buildings. Boulevard Oaks Business Park spans 120 acres and is located in southwest Houston. Phase I of the project delivered 450,000 square feet of new industrial space across four buildings that is now 95 percent occupied. Phase II is expected to be complete in the third quarter of 2020. Burton Construction is the general contractor for the project, and Powers Brown is the architect of record. Cushman & Wakefield handles leasing of the property.
Hartman Income REIT Acquires Three Office Buildings Totaling 222,043 SF in Houston’s Energy Corridor
HOUSTON — Subsidiaries of Hartman Income REIT have acquired three office buildings totaling 222,043 square feet in Houston’s Energy Corridor area. Timberway II is a 130,828-square-foot building that was 64.2 percent occupied at the time of sale; One Park Ten Place is a 34,089-square-foot asset that was 34.6 percent occupied at the time of sale; and Two Park Ten Place is a 57,125-square-foot property that was 89.1 percent occupied at the time of sale. All three properties were built between 1979 and 1983 and have subsequently been renovated. The seller(s) was not disclosed.
GRAND PRAIRIE, TEXAS — Marcus & Millichap has arranged the sale of a 213,630-square-foot industrial building leased to Ashley Furniture in Grand Prairie, located in the center of the Dallas-Fort Worth (DFW) metroplex. The property was built on 11.5 acres in 1979 and renovated in 1995. Adam Abushagur of Marcus & Millichap represented the seller and procured the buyer, both of which were private investors, in the transaction.
FORT WORTH, TEXAS — Marriott International has opened a 170-room Springhill Suites hotel at 2315 N. Main St. in Fort Worth’s Historic Stockyards district. The six-story property features a fitness center, outdoor pool, complimentary breakfast and 11,500 square feet of meeting and event space. In addition, a food and beverage concept from local chef Tim Love is scheduled to open at the hotel in early 2020. OGC Main Street LP owns the hotel, and Oldham Goodwin Group manages it.