Property Type

VanTrust to Develop 210,000 SF Spec Office Project in Frisco

by Taylor Williams September 20, 2018

FRISCO, TEXAS — Kansas City-based VanTrust Real Estate LLC will develop The Offices Two at Frisco Station, a 210,000-square-foot speculative office project in Frisco. Construction of the six-story building, which will be located adjacent to The Star, will begin later this month with completion slated for September 2019. Amenities will include structured parking, a fitness center, conference center and tenant lounge. HKS Inc. is serving as project architect, Manhattan Construction is the design-build contractor and Kimley Horn & Associates is the civil engineer. Cushman & Wakefield will handle marketing and leasing of the property.

September 20, 2018

Development Florida Office Southeast

Bromley Cos. Unveils Plans for First Office Building Within $500M Midtown Tampa Project

by Camren Skelton September 20, 2018

TAMPA, FLA. — Bromley Cos. has unveiled plans for the first office building within the $500 million Midtown Tampa project in Tampa. The 140,000-square-foot, seven-story office building — dubbed Midtown One — will be the first of three office projects within the development. Midtown One will feature valet service, a full-service concierge and a pedestrian sky bridge connecting the building to Midtown Tampa’s retail and residential components. At full build-out, Midtown Tampa will include 1.8 million square feet of retail, residential, office, entertainment and hospitality space. Whole Foods Market will anchor the retail portion of the project. Cushman & Wakefield is overseeing the office leasing for the development. Bromley will break ground on Midtown One in early 2019, with completion scheduled for late 2020.

September 20, 2018

Georgia Loans Office Southeast

Square Mile Capital Provides $60M Loan for Refinancing of Office Building in Midtown Atlanta

by Camren Skelton September 20, 2018

ATLANTA — Square Mile Capital LLC has provided a $60 million loan for the refinancing of 1355 Peachtree, a 20-story office building in Atlanta’s Midtown district. Chris Campbell and Daniel Allman of Eastdil Secured arranged the loan on behalf of the borrower, a partnership between Oaktree Capital Management LP and Banyan Street Capital LLC affiliates. The 345,254-square-foot building is located within walking distance to the Arts Center MARTA station, Colony Square and other retail and cultural destinations. On-site amenities include a conference facility, concierge services, fitness center and an underground parking facility.

September 20, 2018

Acquisitions Multifamily Texas

American Landmark Acquires 208-Unit Apartment Community in Metro Houston

by Taylor Williams September 20, 2018

CONROE, TEXAS — Multifamily owner/operator American Landmark has acquired Hilltops Apartments, a 208-unit multifamily community in Conroe, located about 40 miles north of Houston. Built in 2017, the property offers one- and two-bedroom units averaging 881 square feet. Amenities include a pool, business center, game room, a fitness center and onsite laundry facilities. American Landmark plans to invest about $800,000 in capital improvements to the property, which was 92 percent occupied at the time of sale. The seller was not disclosed.

September 20, 2018

Georgia Loans Multifamily Southeast

NorthMarq Arranges $23.5M Acquisition Loan for Multifamily Community in Metro Atlanta

by Camren Skelton September 20, 2018

SANDY SPRINGS, GA. — NorthMarq Capital has arranged a $23.5 million loan for the acquisition of The Celebration at Sandy Springs, a 250-unit apartment community located at 7000 Roswell Road in Sandy Springs, roughly 16 miles north of downtown Atlanta. Brett Hood and Jeff Frankel of NorthMarq arranged the 10-year, floating-rate loan with five years of interest-only payments and a 30-year amortization schedule. A Chicago-based multifamily operator acquired the property. The Celebration at Sandy Springs features a fitness center, swimming pool, dog park, laundry facilities, business center, clubhouse and a playground.

September 20, 2018

Acquisitions Retail Southeast Tennessee

HFF Brokers $18.5M Sale of Publix-Anchored Retail Center Near Chattanooga

by Camren Skelton September 20, 2018

OOLTEWAH, TENN. — HFF has brokered the $18.5 million sale of Snow Hill Village, an 86,108-square-foot shopping center in Ooltewah, roughly 18 miles east of Chattanooga. Jim Hamilton, Mike Allison and Andrew Kahn of HFF arranged the transaction on behalf of the seller, Six Pines Realty. Publix Super Markets — which anchors the center — was the buyer. Snow Hill Village was constructed in 2008 and was 95 percent leased at the time of sale. In addition to Publix, the center is home to tenants such as Beef O’Brady’s, Edward Jones, H&R Block, The UPS Store, Dr. Hammontree, Ooltewah Vision Center, Unique Nails, Marco’s Pizza, SunTrust Bank, Open Spigot Liquor and Great Clips.

September 20, 2018

Development Healthcare Texas

Methodist Health to Open 235,000 SF Healthcare Facility in Metro Dallas

by Taylor Williams September 20, 2018

MIDLOTHIAN, TEXAS — Methodist Health System has acquired 67 acres in Midlothian, a southwestern suburb of Dallas, for the development of a 190,000-square-foot acute care hospital and a 45,000-square-foot medical office building. The project is expected to employ about 300 healthcare professionals. Kyle Libby and Michael Collins of MedCore Partners represented Methodist in the land sale. Joe Rust of Joe Rust Co. represented the sellers in that deal. Construction of the new medical development is expected to begin later this year and wrap up in 2020.

September 20, 2018

Florida Industrial Leasing Activity Southeast

Cushman & Wakefield Negotiates 105,652 SF Headquarters Lease for Manufacturer in Broward County

by Camren Skelton September 20, 2018

CORAL SPRINGS, FLA. — Cushman & Wakefield has arranged a 105,642-square-foot industrial lease with Aldora Aluminum & Glass Products at 4520 Coral Ridge Drive in Coral Springs, a city in northern Broward County. Richard Etner Jr., Chris Metzger, Christopher Thomson and Matthew McAllister of Cushman & Wakefield negotiated the lease on behalf of the building owner, Exeter Property Group. MJ Ridenour of Coldwell Banker Commercial NRT represented Aldora. The manufacturer produces a full line of glass, mirror, window and façade products, including hurricane-resistant aluminum storefronts and entry systems. The company is currently headquartered in Miramar, but will relocate its operations to the Coral Ridge Drive facility by summer 2019. Exeter is renovating the facility, formerly known as the Alliance Building, to modern institutional standards. The existing 193,211-square-foot building will be part of a four-building, 567,846-square-foot distribution development known as Coral Springs Commerce Center II.

September 20, 2018

Industrial Leasing Activity Texas

CBRE Negotiates 188,000 SF Industrial Lease Renewal in El Paso Border Town

by Taylor Williams September 20, 2018

CIUDAD JUÁREZ, MEXICO — CBRE has negotiated an industrial lease renewal in Ciudad Juárez, Mexico, located directly across the border from El Paso. The tenant, CommScope, a North Carolina-based provider of communications infrastructure equipment, occupies 188,000 square feet of warehouse and distribution space. Anthony Mash of CBRE represented the tenant in the lease negotiations. The landlord, HSBC Mexico, was self-represented.

September 20, 2018

Development Industrial Texas

MARS Properties Breaks Ground on 89,440 SF Distribution Center in Katy, Texas

by Taylor Williams September 20, 2018

KATY, TEXAS — MARS Properties LLC has broken ground on High Point West, an 89,440-square-foot distribution center in Katy, a western suburb of Houston. Situated on 7.2 acres, the property will feature 32-foot clear heights, as well as access to controlled truck courts and to the Interstate 10 corridor. CBRE will market the property, which is expected to be complete by spring 2019.

September 20, 2018

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