Property Type

ATLANTA — The Cobb County Chamber of Commerce has sold its headquarters building located at 240 Interstate N. Parkway in Atlanta to Pope & Land for an undisclosed price. The Cobb Chamber and other tenants, including the Cumberland Community Improvement District and Cobb Community Foundation, will relocate to the 10th floor of 1100 Circle 75, where they will occupy 17,517 square feet of office space by early 2020. SK Commercial Realty is the owner and landlord.The new office space is located across from The Battery Atlanta and SunTrust Park, home to Major League Baseball’s Atlanta Braves. The new space will feature meeting rooms, event spaces, modern workspaces, huddle rooms to foster collaboration and a bistro-style break room. Chad Koenig and Trey Dove of Cushman & Wakefield represented Cobb Chamber in the lease negotiations, and Andrew Walker of Colliers International represented the on the sale of its former headquarters building. Rule Joy Trammell + Rubio will serve as the architectural design firm and Darden will serve as project manager of building out the space.  Choate Construction will serve as the general contractor. Turnerboone is the project’s furnishings vendor, and Unified Technology Systems is providing the audio-visual design and installation.

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JOHNSON CITY, TENN. — Monument Capital Management has acquired Sterling Hills Apartment Homes, a 216-unit multifamily community in Johnson City. The buyer will implement a $2.3 million renovation plan to upgrade the property. Sterling Hills was built in 1980 and offers one-, two- and three-bedroom floor plans averaging 876 square feet. Communal amenities include a fitness center, basketball court, swimming pool, courtyard, grill and a picnic area. Located at 1 Milligan Lane, the property is situated five miles east of downtown Johnson City. Sterling Hills Apartments LLC sold the asset for an undisclosed price.

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KATY, TEXAS — General contractor Allied Orion Group has broken ground on Territory at Greenhouse Apartments, a 288-unit multifamily project in the western Houston suburb of Katy. Developed by Dhanani Private Equity Group, the Class A community will be located near Houston Methodist Hospital, Texas Children’s Hospital and Cullen Park, as well as a multitude of dining, retail and entertainment options including LaCenterra in Cinco Ranch, City Centre, and Katy Mills Mall. Territory at Greenhouse’s units will feature one-, two- and three-bedroom units with stainless steel appliances, vinyl plank flooring and private balconies. Communal amenities will include a resort-style pool, fitness center, outdoor movie amphitheater, resident clubhouse and lounge, a business center and a dog park. Completion is slated for February 2020 and preleasing will begin this fall.    

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BRYAN, TEXAS — Multifamily investment firm West Shore LLC has acquired Broadstone Traditions, a 261-unit residential community located in the Central Texas city of Bryan. Broadstone Traditions will be integrated into the adjacent 8085 at Traditions community, a 396-unit property owned and operated by West Shore since 2018. Units feature quartz or granite countertops, stainless steel appliances, full-size washing machines and dryers, walk-in closets, private patios or balconies and wine refrigerators and beverage centers in select units. Amenities include three pools with cabanas and sun decks, three fitness centers, outdoor kitchens and grilling stations, an outdoor putting green, three dog parks with pet washing stations, two business centers with private conference rooms and complimentary Starbucks coffee bars.

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DALLAS — Aligned Energy, a data center developer and operator, will build a 360,000-square-foot colocation facility in Dallas. The project represents an expansion of the company’s 19-acre DFW-01 campus and will increase the development’s critical power capacity by eight megawatts. Construction is underway and is expected to be complete by late November.

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IRVING, TEXAS — Weitzman will renovate Irving Towne Center, a 240,000-square-foot retail center located at the intersection of State Highway 183 and North Belt Line Road in Irving. Originally built in 1986 and anchored by Target, the center houses tenants such as Tuesday Morning, On The Border and Anytime Fitness. Hodges & Associates is the architect for the renovation project, which is expected to begin in late 2019 or early 2020 and to be complete by the end of 2020.

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FARMERS BRANCH, TEXAS — NAI Robert Lynn has arranged the sale of Midway Crowne Center, a 47,280-square-foot office building located at 14240 Midway Road in Farmers Branch, a northern suburb of Dallas. A California-based partnership sold the asset to Twinrose Investments for an undisclosed price.  Jim Hancock and Chad Albert with NAI Robert Lynn handled the sale with Cullen Dickey of Dickey Property Co.

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ELIZABETHTOWN, PA. — Novaya Foxfield Industrial (NFI) has purchased 20 acres in Elizabethtown, located about 75 miles north of Baltimore. NFI is currently developing two industrial warehouses totaling 200,000 square feet on the site. The buildings will feature concrete panel construction and 32-foot clear heights. The property will be located within the 3.5 million-square-foot Conewago Industrial Park, which houses several large warehouse and industrial tenants. NFI expects to complete construction by the end of 2019.

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ROXBURY, N.J. — Cushman & Wakefield has arranged a $72.5 million construction loan for the redevelopment of The Shops at Ledgewood Commons, a retail center in Roxbury, located about 40 miles west of New York City. Santander Bank provided the loan, exact terms of which were undisclosed. The borrower, Advance Realty Advisors, plans to reposition the former enclosed mall into an open-air retail center. John Alascio, Sridhar Vankayala, T.J. Sullivan and Zachary Kraft of Cushman & Wakefield arranged the loan.

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LONG ISLAND, N.Y. — Woodmont Industrial Partners has acquired 100 Precision Drive, a 130,565-square-foot industrial property on Long Island. Built in 2002, the single-story property features 25-foot clear heights and 325 parking spaces and is located less than a half mile from I-495. Woodmont Industrial will upgrade the building with a new sprinkler system, new roof, LED lighting and dock doors.

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