Property Type

Village-at-Rayzor-Ranch-Denton

DENTON, TEXAS — Locally based general contractor KWA Construction has completed The Village at Rayzor Ranch, a 300-unit multifamily community located within the 400-acre Rayzor Ranch Town Center development in Denton. The property offers amenities such as complimentary concierge services, a pool with cabanas, fitness center with a yoga studio, pickleball and bocce ball courts and a dog park with a grooming station. EPC Real Estate Group developed the community, and Studio A Architecture designed it.  

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Ridgeline-Renal-Care-Fort-Worth

DALLAS — Dallas-based Ridgeline Capital Partners has acquired 10 medical office buildings totaling 99,072 square feet throughout the Dallas-Fort Worth (DFW) metroplex. The seller and sales price were not disclosed, but Ridgeline raised $5.3 million in equity for the deal from sources on Oregon-based investment platform CrowdStreet. All buildings were fully leased at the time of sale, with dialysis provider U.S. Renal Care being the sole or primary tenant at each property. CIT Group Inc. arranged $21 million in acquisition financing on behalf of Ridgeline.

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KNOXVILLE, TENN. AND SOMERSET, KY. — Hanley Investment Group has arranged the sale of two multi-tenant retail outparcels situated on Walmart Supercenter-anchored properties in Tennessee and Kentucky. An undisclosed private investor based in Kentucky acquired both properties in all-cash deals. The first sale was of a two-tenant building leased to Aspen Dental and Visionworks in Knoxville. The outparcel was built in 2015 and spans 7,500 square feet. The property is situated at 2960 and 2964 Miller Place Way, seven miles north of downtown Knoxville. The undisclosed seller, a private investor based in New York City, sold the asset for $4.3 million. Jeff Lefko and Bill Asher of Hanley Investment Group represented the seller in the transaction. The other property is a three-tenant, 6,847-square-foot property located at 2007 S. U.S. Highway 27 in Somerset. The property was built in 2015 and is triple-net-leased to Visionworks, Kay Jewelers and GNC. Indianapolis-based Thompson Thrift Retail sold the property for $2.6 million. The outparcel is situated three miles south of downtown Somerset. Dylan Mallory of Hanley represented the seller in the transaction.

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TYLER, TEXAS — Alabama-based Johnson Development will build a VA Outpatient Clinic in Tyler, a city located about 100 miles east of Dallas. BL Harbert is the general contractor for the project, which is expected to carry a construction timeline of 16 to 22 months. Gabriel Silverstein and Louis D’Lando of SVN | Angelic structured and placed construction financing for the project, which will be developed as part of a quintet of VA Outpatient Clinics in Texas, Florida, Michigan and Missouri that will collectively span more than 303,000 square feet.

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AUSTIN, TEXAS — Tempe, Ariz.-based manufacturer Benchmark Electronics Inc. has signed a 44,680-square-foot industrial lease extension at 200 Parker Drive in North Austin. Andrew Hueser, Sherry Gubera and Jesse Weber of Newmark Knight Frank represented the tenant in the lease negotiations. JLL represented the landlord, Icon Owner Pool 6 Austin LLC.

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BEDFORD, TEXAS — Marcus & Millichap has arranged the sale of an 8,750-square-foot office building located at 405 Airport Freeway in Bedford, a suburb of Fort Worth. Ron Hebert and Blake Burnett of Marcus & Millichap represented the seller and procured the 1031 exchange buyer, both of which were private investors that requested anonymity.

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CLEVELAND — Harbor Bay Real Estate Advisors has unveiled plans to develop INTRO Cleveland, a 298-unit apartment project in Cleveland’s Ohio City neighborhood. The nine-story project will also include nearly 40,000 square feet of retail space and 340 parking spaces. TSB Capital Advisors arranged an undisclosed amount of construction financing with First National Bank of Omaha, First National Bank of Pennsylvania and Busey Bank. In addition, Ohio’s Development Services Agency provided a $10.8 million loan and the City of Cleveland provided a $2 million loan. Construction of the project is expected to last approximately 22 months with completion slated for the first quarter of 2022. The building is the country’s tallest wooden building, according to the developer.

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MINNEAPOLIS — Lupe Development Partners has topped off the sixth floor and completed exterior construction of its Lake Street Dwelling project in the Uptown neighborhood of Minneapolis. The leasing office is now open, and residents are expected to begin move-ins in November. Lake Street Dwelling is the first phase of a mixed-income housing campus under development at the northeast corner of Lake Street and Harriet Avenue. Phase I includes 111 affordable housing units, with nine units reserved for homeless veterans. To qualify, residents will need to meet the annual income restriction of $30,000 to $42,000. Amenities will include a green roof, fitness facility, business center, community room and bike repair station. Frana Cos. is the general contractor. Lupe is partnering with Hennepin County and the nearby Ballentine VFW Post 246. Plans for phases II and III include a 132-unit market-rate building and a 95-unit affordable building.

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CHICAGO — Skender has topped out a new 36,000-square-foot, six-story housing facility for nonprofit Sarah’s Circle in Chicago’s Uptown neighborhood. The project includes a basement, 38 units for long-term housing, an emergency overnight space with 50 nonpermanent beds and a food hall. Skender is collaborating with architect Perkins+Will and Brinshore Development. Sarah’s Circle serves women who are homeless or in need of a safe space. It provides food, clothing, shelter, housing and clinical services for domestic violence and trauma.

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NORWALK, OHIO — Marcus & Millichap has arranged the sale of an Action Mini Storage facility in Norwalk, about 55 miles west of Cleveland. The sales price was undisclosed. The property, located at 3837 Laylin Road, features 193 non-climate-controlled units and totals 28,850 net rentable square feet. Brett Hatcher and Gabriel Coe of Marcus & Millichap marketed the facility on behalf of the seller, a limited liability company. The duo also secured and represented the buyer, a limited liability company.

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