Property Type

DILLON COUNTY, S.C. — Equus Capital Partners Ltd. has broken ground on 95 Inland Port Logistics Center, a speculative 373,100-square-foot industrial building in Dillon County along Interstate 95. The property is situated less than a mile from Inland Port Dillon and about five miles from the North Carolina-South Carolina border. The facility will be constructed using precast concrete panels and feature 32-foot clear heights, energy-efficient LED interior lighting, 7-inch concrete floors, 50- by 50-foot column spacing and an ESFR sprinkler system. 95 Inland Port Logistics Center will be a 410-foot deep, single-side loaded building with a 180-foot deep truck court that will include excess trailer parking separate from the loading docks. The Philadelphia-based developer expects to deliver the warehouse in October. Bob Barrineau and Brendan Redeyoff of CBRE along with Drew Chaplin of Palmetto Commercial Real Estate will handle leasing efforts and target both single- and multi-tenant users. BPG Development Co. LP, Equus’ development operating arm, will oversee development and construction.

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FORT LAUDERDALE, FLA. — Morgan Group has begun construction on Riverland Apartments, a planned 276-unit multifamily community in Fort Lauderdale. The gated property will span six four-story buildings offering studio to three-bedroom floor plans. Communal amenities will include coworking space, an internet lounge, clubroom, community kitchen, fitness center, mailroom with parcel lockers, covered seating area with gas grill stations, covered veranda, pool pavilions, sun deck, dog park and a heated pool overlooking the property’s onsite lake. Morgan Group will oversee development, construction and property management of Riverland Apartments. The Houston-based company expects to welcome its first residents in the second half of 2021.

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BIRMINGHAM, ALA. — Cushman & Wakefield has negotiated the $45.3 million sale of The Trails at Cahaba River, a 400-unit multifamily property in Birmingham. The property, which sold for the equivalent of $113,250 per unit, offers one-, two- and three-bedroom floor plans. Communal amenities include two swimming pools, picnic areas, a fitness center, private trail on the Little Cahaba River and an outdoor playground. The seller, Merion Realty Partners, upgraded the clubhouse and unit interiors prior to the sale. The buyer, Timberland Properties, plans to continue upgrading the property throughout, according to Andrew Brown of Cushman & Wakefield. The Trails at Cahaba River is situated at 801 Cahaba Forest Cove, along U.S. Highway 280 and 10 miles southeast of downtown Birmingham. Brown, Craig Hey and Jimmy Adams of Cushman & Wakefield represented the seller in the transaction.

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LITTLE ROCK, ARK. — TSCG has brokered the sale of Markham West, a 180,200-square-foot retail power center in Little Rock. The shopping center was 98 percent leased at the time of sale to tenants including Academy Sports + Outdoors, Office Depot, Dollar Tree, Michaels and Planet Fitness. Markham West also features five outparcel buildings housing tenants such as TCBY Yogurt, Aspen Dental, Pizza Hut and US Bank. The asset is situated at 11164 W. Markham St., seven miles west of downtown Little Rock and a half-mile from Interstate 430. TSCG represented the seller, an affiliate of Houston-based Weingarten Realty, in the transaction. An affiliate of Atlanta-based RCG Ventures LLC acquired the property for an undisclosed price.

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CHANTILLY, VA. — Newmark Knight Frank (NKF) has arranged the $23.7 million sale of Victory Point at Westfields, a 147,000-square-foot office building in Chantilly. The sellers, Goldstar Group and CrossHarbor Capital Partners, renovated the property in 2016 to include fitness center with locker rooms, an onsite café and an outdoor plaza area. Built in 1989, Victory Point at Westfields was 96 percent leased at the time of sale to tenants including Strayer University, BTRG Group and Alpha Industries Inc. The building is situated at 14200 Meadow Lane, 26 miles west of downtown Washington, D.C. An affiliate of AAFMAA Life Insurance Co. acquired the asset. Jud Ryan of NKF represented the sellers in the transaction.

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PAPILLION, NEB. — Papillion Foods has acquired a 535,000-square-foot former Shopko distribution center in Papillion for an undisclosed price. The 80-acre property is located in the Sarpy West Industrial submarket of Omaha. The facility was originally built for Shopko in 2000 and expanded in 2004. Shopko vacated the property in early 2019. Denny Sciscoe and Mike Earl of Cushman & Wakefield/The Lund Co. represented the seller, LCN Capital Partners, which purchased the facility in 2015. Brian Fogelberg and Emily Claridge of Transwestern represented the buyer. Wisconsin-based Shopko, an apparel and home goods retailer, closed all of its stores in mid-2019.

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HOUSE SPRINGS, MO. — Maverick Commercial Mortgage has arranged a $10.2 million first mortgage loan for Byrnes Mill Farms manufactured housing community in House Springs, located about 30 miles southwest of St. Louis. Built in 1986, the 372-site community features a pool and clubhouse. A national lender provided the bridge loan, which features a 16-month term and a 30-year amortization schedule. Proceeds from the loan refinanced the existing first mortgage, funded a reserve to be used for new house purchases, paid for closing costs and returned equity to the borrower, MHPI.

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ROSCOE, ILL. — Cushman & Wakefield has brokered the $7.7 million sale of the SwedishAmerican Clinic & Immediate Care-Prairie Center, a 25,565-square-foot medical office building in Roscoe in northern Illinois. Constructed in 2014, the facility sits on 7.5 acres at 4282 E. Rockton Road. SwedishAmerican, a division of UW Health, occupies 80 percent of the property. Services provided at the facility include immediate care, primary care, obstetrics and gynecology, podiatry, orthopedics, pulmonology, cardiology and physical therapy. The other tenant, Siepert & Co. LLP, is a public accounting firm and occupies 3,600 square feet. At the time of sale, 1,400 square feet was available for lease. Gino Lollio, Scott Niedergang and Travis Ives of Cushman & Wakefield represented the seller, Glen Rock Development LLC. A non-traded real estate investment trust focused primarily on healthcare assets purchased the building.

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KANSAS CITY, MO. AND LENEXA, KAN. — Pacific Sands Funds has purchased two multifamily properties in metro Kansas City for an undisclosed price. The first property is Chouteau Heights, a 76-unit apartment complex in the Sherwood Estates neighborhood of Kansas City. The second is Villas of Loiret, a 46-unit rental townhouse community in Lenexa. Chouteau Heights was built in 1964, while Villas of Loiret was constructed between 1999 and 2003. Pacific Sands plans to update both properties. Irvine, Calif.-based Pacific Sands maintains a portfolio of more than 500 units in southern California, Las Vegas, St. Louis and Kansas City. Seller information was undisclosed.

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LIVONIA, MICH. — Gerdom Realty has negotiated the sale of Livonia Crossroads for an undisclosed price. The 23,000-square-foot retail center is located at the southeast corner of Middlebelt and Plymouth roads in Livonia, a western suburb of Detroit. Tenants include MedPost Urgent Care, Disc Replay and Sprint. Tjader Gerdom, Larry Siedell and Michael Murphy of Gerdom represented both parties in the sale. A local investor purchased the asset. Gerdom retains leasing responsibilities for the center.

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