FREDERICKSBURG, VA. — The Milestone Group has acquired two apartment communities in Fredericksburg totaling 676 units. The communities include Kensington Crossing (476 units) and Magnolia Falls (200 units). The seller and sales price were not disclosed. Milestone assumed the existing loans for both communities and plans to upgrade common areas and amenities. The previous owner fully renovated the interiors at both Kensington Crossing and Magnolia Falls.
MIAMI — Target has opened a new 50,000-square-foot store at Sawyer’s Walk, a 1.5 million-square-foot mixed-use development underway in Miami’s Overtown neighborhood. SG Holdings, a partnership between Swerdlow Group, SJM Partners and Alben Duffie, is the master developer. Construction on the 3.4-acre development began in summer 2021. The project includes a 578-unit apartment community that is predominantly reserved for low-income seniors; 130,000 square feet of offices anchored by MSC Group that will serve as the North American headquarters for MSC Cruises; and 175,000 square feet of retail space. In addition to Target, Sawyer’s Walk will soon be home to Burlington (38,000 square feet), Aldi (25,000 square feet), Five Below (10,000 square feet) and Ross Dress for Less (26,000 square feet). The property also features a 25,000-square-foot public plaza and parking for 1,000 vehicles.
HUNTSVILLE, ALA. — Jim Chapman Construction Group has begun vertical construction at Nestledown Farm, a 201-unit build-to-rent residential community in Huntsville. The townhome community is situated on a 29-acre site on Zierdt Road adjacent to the Redstone Arsenal Army base. Jim Chapman Construction broke ground on Nestledown Farm last fall and expects first residents will move in next spring. The property will offer five different floor plans for two- and three-bedroom townhomes ranging in size from 1,020 to 1,466 square feet and with one- or two-car garages. Jim Chapman Construction is also underway on the property’s amenities, including a 4,000-square-foot clubhouse, swimming pool, fitness center, dog park, illuminated sidewalks, gated entrance and onsite property management.
CONROE, TEXAS — SurePoint Self Storage has delivered a 744-unit facility in Conroe, about 40 miles north of Houston. Operated by CubeSmart, the facility is located within Johnson Development’s Grand Central Park master-planned community and spans approximately 94,000 square feet of net rentable, climate-controlled space. The facility, which was originally announced in early 2022, is SurePoint’s 14th self-storage development in the greater Houston area.
CARROLLTON, TEXAS — Cushman & Wakefield has brokered the sale of Lux on Main, a 352-unit apartment community located in the northern Dallas metro of Carrollton. Built in 2019, the property offers studio, one- and two-bedroom units. Amenities include a pool, wellness center, resident lounge and a business center, as well as 4,095 square feet of fully leased retail space. Asher Hall and Grant Raymond of Cushman & Wakefield represented the seller, Nimes Real Estate, in the transaction. RPM Living purchased the asset for an undisclosed price.
ROUND ROCK, TEXAS — Developer IDI Logistics has completed a 310,689-square-foot industrial project in the northern Austin suburb of Round Rock. The three-building project represents Phase I of Sunrise Commerce Center, a 465,786-square-foot speculative development that will ultimately comprise five buildings on a 37-acre site. Phase I’s rear-load buildings range in size from 59,274 to 175,170 square feet. Project partners included 5G Studio Collaborative, Pacheco Koch and Adolfson & Peterson Construction. Construction began in May 2023.
LAREDO, TEXAS — Chicago-based private equity real estate firm Timber Hill Group has purchased four industrial outdoor storage (IOS) sites totaling 23.1 acres in the Rio Grande Valley city of Laredo. The sites at 701 Enterprise St. and 4006 Quivira Drive will have new facilities developed from the ground up that are expected to be complete by mid-2025. Timber Hill will renovate the existing facilities at the sites at 18729 and 18701 Metropolitan Road. The seller was not disclosed.
SAN ANTONIO — Dallas-based EōS Fitness has signed a 42,500-square-foot retail lease in San Antonio for its first Central Texas location. The space is located within The Shops at Redland Road in the city’s Stone Oak neighborhood, and the new facility will consist of 40,000 square feet of indoor space and 2,500 square feet of contiguous outdoor space. The opening is scheduled for 2026.
MINNEAPOLIS — Colliers has negotiated the sale of a two-property multifamily portfolio totaling 424 units in the Loring Park neighborhood of downtown Minneapolis for $32.5 million. The properties are located at 215 and 330 Oak Grove St. They feature newly renovated one- and two-bedroom units. Amenities include a patio, garden, resident lounge, fitness center, laundry room, package room and garage parking. Both assets are more than 80 percent leased. Mox Gunderson, Dan Linnell, Adam Haydon and Devon Dvorak of Colliers represented the seller, Laramar Group. Grove Estates was the buyer.
CHESTERFIELD TOWNSHIP, MICH. — Mid-America Real Estate Corp. has brokered the sale of Waterside Marketplace, a 276,244-square-foot shopping center in the northeast Detroit suburb of Chesterfield Township. The sales price was undisclosed. The property, located at the interchange of I-94 and 23 Mile Road, is 93 percent leased to tenants such as TJ Maxx, Sierra, Burlington, Best Buy, Ulta, DSW and Old Navy. Ben Wineman, Emily Gadomski and Daniel Stern of Mid-America represented the seller, New Orleans-based PMAT Real Estate Investments. Alpharetta, Ga.-based Octave Holdings and Investments was the buyer.
