Property Type

Northland Investment Buys Inspire SouthPark Multifamily Complex in Charlotte for $145M

by Alex Tostado November 18, 2019

CHARLOTTE, N.C. — Northland Investment Corp. has acquired Inspire SouthPark, a 369-unit multifamily complex in Charlotte, for $145 million from seller and developer Morgan Bond Co. Six miles south of downtown Charlotte, Inspire SouthPark is now the fourth of Northland Investment’s North Carolina apartment properties. Inspire SouthPark offers studio to three-bedroom apartments, a pool, fitness and wellness centers, courtyard, social hall, dog care facility and underground parking. The complex is close to retail, 6 million square feet of office space and more than 60 food and beverage outlets.

November 18, 2019

Development Mixed-Use Texas

DC Partners Breaks Ground on Six-Acre Mixed-Use Project in Houston

by Taylor Williams November 18, 2019

HOUSTON — Houston-based DC Partners has broken ground on The Allen, a six-acre mixed-use project located near Buffalo Bayou Park in Houston. The development will include a 99-unit condominium building, a Thompson-branded luxury hotel, an office building and retail and restaurant spaces. The grand opening of The Allen is slated for the first quarter of 2021, though the hotel is not scheduled to be complete until 2023. DC Partners is developing the project in partnership with Tianqing Real Estate Development and Westmont Hospitality Group.

November 18, 2019

Industrial Leasing Activity Texas

National Container Group Signs 120,960 SF Industrial Lease in Metro Dallas

by Taylor Williams November 18, 2019

HUTCHINS, TEXAS — National Container Group LLC has signed a 10-year, 120,960-square-foot industrial lease at Intermodal Business Center in Hutchins, a southern suburb of Dallas. Construction is underway to reconfigure the property, which was built in 2017 and features 32-foot clear heights, an ESFR sprinkler system and 38 dock doors, for National Container Group’s needs. Jean Russo of Cushman & Wakefield represented the tenant in the lease negotiations. Michael Grant and Susan Singer of Bradford Commercial Real Estate Services represented the landlord, Intermodal Warehouse Partners.

November 18, 2019

Development Georgia Hospitality Southeast

Lucror Resources, Sixty West Break Ground on Motto by Hilton Hotel in Atlanta’s Old Fourth Ward

by Alex Tostado November 18, 2019

ATLANTA — Lucror Resources and equity partner Sixty West have begun construction on one of the first Motto by Hilton hotels in the United States. The 146-room micro-hotel brand is located in the Old Fourth Ward neighborhood of Atlanta at 40 Boulevard NE, less than two miles from Ponce City Market. The hotel is slated to open in 2021 as part of Waldo’s, a planned $80 million mixed-use development project that will include 13,000 square feet of restaurants, an office building and 10 residential units. Hospitality Ventures Management Group (HVMG), a private hotel investment, ownership and management company based in Atlanta, will operate the hotel. Additionally, Hilton Worldwide Holdings Inc. has signed deals to open six additional Motto by Hilton hotels in Brooklyn, N.Y.; Chelsea, N.Y.; Indianapolis; Lima, Peru; Savannah, Ga.; and Washington, D.C.

November 18, 2019

Acquisitions Maryland Multifamily Southeast

Hines REIT Acquires Apartment Community Near University of Maryland for $98M

by Alex Tostado November 18, 2019

COLLEGE PARK, MD. — Hines, an international real estate developer based in Houston, has acquired The Alloy by Alta, a new seven-story, 275‐unit multifamily asset located at 4700 Berwyn House Road near the University of Maryland in College Park. Hines purchased the asset via Hines Global Income Trust, the company’s nontraded REIT. The purchase price was not disclosed, but multiple media outlets reports Hines purchased the property for $98 million. The predominantly student-occupied apartment was 97.5 percent occupied at the time of sale. The property offers one-, two- and three-bedroom apartments units averaging 838 square feet.

November 18, 2019

Acquisitions Retail Texas

The Boulder Group Arranges $9.2M Sale of Retail Asset in Houston Net Leased to 24 Hour Fitness

by Taylor Williams November 18, 2019

HOUSTON — The Boulder Group, an investment brokerage firm specializing in net-leased assets, has arranged the $9.2 million sale of a single-tenant retail property leased to 24 Hour Fitness in Houston. The 50,000-square-foot building is positioned as an outparcel to Willowbrook Mall, which is anchored by Dick’s Sporting Goods, Dillard’s, JC Penney, Macy’s, Nordstrom Rack, Sears and Apple. Randy Blankstein and Jimmy Goodman of Boulder Group represented the seller, a Texas-based private partnership, in the transaction. The buyer was a 1031 exchange investor.

November 18, 2019

Acquisitions Multifamily Texas

FourPoint Brokers Sale of 28-Unit Apartment Property in North Austin

by Taylor Williams November 18, 2019

AUSTIN, TEXAS — FourPoint Investment Sales Partners has brokered the sale of Dryfield Apartments, a 28-unit multifamily property located near State Highway 183 in North Austin. Built in 1969, the property offer amenities such as a pool and onsite laundry facilities. Kevin Dufour and Kyle Peco of FourPoint represented the California-based seller in the transaction. The undisclosed buyer will implement a value-add program to the property’s exteriors and unit interiors.

November 18, 2019

Industrial Leasing Activity Texas

NAI Partners Negotiates 8,100 SF Industrial Lease for BSN Sports in Houston

by Taylor Williams November 18, 2019

HOUSTON — NAI Partners has negotiated an 8,100-square-foot industrial lease for BSN Sports, a distributor of athletic apparel and equipment, a t 11707 S. Sam Houston Parkway West in Houston. Chris Caudill of NAI Partners represented the tenant in the lease negotiations. Boone Smith and Garret Geacccone of Stream Realty Partners represented the landlord, DRA Advisors LLC.

November 18, 2019

Acquisitions Multifamily Southeast Tennessee

Bluestone Properties Purchases 1400 Chestnut Apartments in Downtown Chattanooga

by Alex Tostado November 18, 2019

CHATTANOOGA, TENN. — Bluestone Properties has purchased 1400 Chestnut Apartments, a 200-unit multifamily property in downtown Chattanooga. According to the Chattanooga Times Free Press, Birmingham, Ala.-based Kore LLC delivered the community in 2017. Close to Interstates 24 and 75, the four-story residential community contains one- and two-bedroom apartments, a pool and lounge area, resident center with a complimentary wine and coffee bar, grilling and fire pit areas, fitness center, yoga room and a dog spa. Unit interiors include quartz countertops, tiles accents and backsplashes, wood flooring, white cabinetry and stainless steel appliances.

November 18, 2019

Acquisitions Georgia Industrial Southeast

Industrial Outdoor Ventures Acquires Two Trucking Facilities Near Atlanta

by Alex Tostado November 18, 2019

FAIRBURN AND CONLEY, GA — Industrial Outdoor Ventures (IOV) has acquired two trucking facilities in the metro Atlanta area. The assets included a truck and trailer parking facility located at 7200 Graham Road in Fairburn, 20 miles south of Atlanta and near the CSX Intermodal station. The developer leased the entirety of the property to Store My Truck, a tractor-trailer parking company headquartered in Atlanta. In addition, IOV bought 3987 Moreland Ave., an 11-acre truck and trailer repair shop and storage yard in Conley. IOV also signed a deal with Store My Truck for 1,750 square feet of office space and six acres of storage. The site contains a 14,750-square-foot office/repair shop and seven truck bays. Trailco Group occupies the remaining office space and four acres of ground storage at the site. Conley is situated 10 miles south of Atlanta, near Hartsfield-Jackson Atlanta International Airport and Interstates 675 and 285. Private investors sold both facilities to Chicago-based IOV for an undisclosed price.

November 18, 2019

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