Property Type

Franklin Johnston, Virginia Wesleyan University Begin Construction on 244-Unit Student Housing Community

by Alex Tostado June 25, 2019

VIRGINIA BEACH, VA. — The Franklin Johnston Group and Virginia Wesleyan University (VWU) have broken ground on Coastal 61 at Oxford Village, a planned 244-unit apartment complex situated adjacent to the university. The new community will be located on a vacant site in Virginia Beach within an Opportunity Zone owned by the university. The property will offer one-, two- and three-bedroom floor plans ranging from 833 to 1,395 square feet. The asset is expected to be complete in 2020. Communal amenities will include a rooftop sky park, two-story clubhouse and a swimming pool. The housing community will be open to the public and is envisioned as a place for VWU students, faculty and staff.

June 25, 2019

Acquisitions District of Columbia Hospitality Southeast

Pebblebrook Hotel Trust to Sell Hotel in Downtown D.C. for $42M

by Alex Tostado June 25, 2019

WASHINGTON, D.C. — Pebblebrook Hotel Trust has entered into an agreement to sell Kimpton Rouge Hotel, a 137-room hotel in downtown Washington, D.C., for $42 million. The hotel offers a 24-hour fitness center, in-room spa services, a yoga mat in every room, bicycles for rent and an on-site bar. The seller expects the sale to close in the third quarter of this year. The buyer was not disclosed.

June 25, 2019

Development Florida Restaurant Retail Southeast

Ex-Football Coach Steve Spurrier to Open Restaurant Within Celebration Pointe in Gainesville

by Alex Tostado June 25, 2019

GAINESVILLE, FLA. — Former University of Florida football coach Steve Spurrier is seeking a partner for a new restaurant in Celebration Pointe in Gainesville. The new restaurant will be called “Spurrier’s” and is expected to open in 2020. The selected partner will have a $1 million build-out budget and the ability to influence the final menu and décor, as well a salary and/or equity in the restaurant. The partner will be named later this year. Celebration Pointe is a 160-acre mixed-use development that upon completion will span more than 1 million square feet and will include office and retail space, residential units and a mix of experiential and entertainment venues, such as seafood restaurant The Keys, a Nike Factory Store and a 10-screen Regal Cinemas theater.

June 25, 2019

Company News Florida Retail Southeast

Equinox Development Hires Genny Hall to Oversee Leasing

by Alex Tostado June 25, 2019

MAITLAND, FLA. — Equinox Development Properties Inc. has hired Genny Hall as senior vice president and a partner to oversee the leasing for all developments and retailer relationships. Hall has more than 15 years of retail brokerage experience. Prior to joining Equinox, Hall served as the managing director of retail services at Colliers International in Central Florida. Maitland, Fla.-based Equinox Development specializes in developing retail, mixed-use and boutique commercial projects.

June 25, 2019

Acquisitions Office Texas

HFF Negotiates Sale of 433,132 SF Office Building in Houston’s Greenway Area

by Taylor Williams June 25, 2019

HOUSTON — HFF has negotiated the sale of 20 Greenway Plaza, a 433,132-square-foot office building in Houston. The 10-story property was renovated in 2014 and was 95 percent leased at the time of sale to tenants such as Merrill Lynch, Sunnova Energy Corp., REALEC Technologies, Mitsubishi and Koch Industries. Dan Miller and Trent Agnew of HFF represented the seller, Principal Real Estate Investors, in the transaction and procured the buyer, Stockdale Capital Partners. Wally Reid of HFF arranged acquisition financing through Cigna Realty Investors on behalf of the buyer. The loan was structured with a seven-year term and a fixed interest rate.

June 25, 2019

Acquisitions Arizona Multifamily Western

MIG Real Estate Acquires 168-Unit Del Sol Apartments in Scottsdale for $34.5M

by Amy Works June 25, 2019

SCOTTSDALE, ARIZ. — MIG Real Estate has purchased Del Sol Apartments, a multifamily property located at 10888 N. 70th St. in Scottsdale. Aukum Group sold the asset for $34.5 million, or $205,357 per unit. Built in 1984, Del Sol Apartments features 168 units and is approximately six miles from downtown Scottsdale. Steve Gebing and Cliff David of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the transaction.

June 25, 2019

Acquisitions Industrial Self-Storage Texas

Strategic Storage Acquires 637-Unit Facility in Houston

by Taylor Williams June 25, 2019

HOUSTON — Strategic Storage Growth Trust II Inc., a private real estate investment trust sponsored by SmartStop Asset Management LLC, has acquired a 637-unit facility in Houston. The property, the name of which was not disclosed, features climate-controlled and drive-up units. The new ownership also notes that the facility is located within an area with a high concentration of multifamily and retail development. The transaction marks the REIT’s third acquisition.

June 25, 2019

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap Arranges Sale of 320-Unit Self-Storage Facility in Spicewood, Texas

by Taylor Williams June 25, 2019

SPICEWOOD, TEXAS — Marcus & Millichap has arranged the sale of A-Max Self Storage, a 320-unit facility in Spicewood, about 35 miles west of Austin. The property is located along State Highway 71 and features 47,530 square feet of rentable space. Jon Danklefs and Mark Diebold of Marcus & Millichap represented the seller, a partnership, and procured the buyer, a limited liability company. Both parties requested anonymity.

June 25, 2019

Development Multifamily Texas

Howard Hughes Corp. Breaks Ground on 163-Unit Multifamily Project in The Woodlands

by Taylor Williams June 25, 2019

THE WOODLANDS, TEXAS — The Howard Hughes Corp. has broken ground on a 163-unit multifamily project within The Woodlands, a master-planned community located about 30 miles north of Houston. The seven-story building will be situated within The Woodlands Town Center and offer one-, two- and three-bedroom units averaging 1,100 square feet. Amenities will include a fitness center, outdoor cooking area and coworking office space. Completion is slated for the fourth quarter.

June 25, 2019

Development Office Texas

Fort Capital Underway on 21,283 SF Office Project in Fort Worth

by Taylor Williams June 25, 2019

FORT WORTH, TEXAS — Local investment firm Fort Capital is underway on Phase II of Nursery Lane Office Park, a project that will add 21,283 square feet of new space to Fort Worth’s office supply. Phase I spanned 16,800 square feet and was completed in March 2017, and Phase II is expected to be complete by August. Construction on a third and final phase is also slated to occur this year. JLL is handling leasing of the new space.

June 25, 2019

Newer Posts

Older Posts