Property Type

Building Supply Firm Inks 171,850 SF Industrial Lease in Houston

by Taylor Williams August 13, 2019

HOUSTON — Builders FirstSource, a supplier of structural components for the construction industry, has signed a 171,850-square-foot industrial lease at 16245 Port NW Drive in Houston. According to LoopNet Inc., the property was built in 2014 and features 160-foot truck court depths, 28-foot clear heights and an ESFR sprinkler system. Reid Bassinger and Trey Fricke of Lee & Associates represented Builders FirstSource in the lease negotiations. Brian Gammill of Transwestern represented the landlord.

August 13, 2019

Acquisitions Colorado Office Western

NKF Negotiates $9.9M Sale of View 57 Office Building in Boulder, Colorado

by Amy Works August 13, 2019

BOULDER, COLO. — Newmark Knight Frank (NKF) has arranged the sale of View 57, an office building located at 1855 S. 57th Court in Boulder. McGarvey’s Shoal LLC acquired the property from 57th Element, an investment partnership led by Boulder-based Element Properties, for $9.9 million. John Jugl of NKF represented the seller in the deal. Originally built as a R&D lab facility, the 30,464-square-foot property was redesigned into a boutique creative office project that includes newly renovated lobby, an overhaul of the exterior, 11-foot to 12-foot exposed ceilings, updated HVAC systems and the addition of windows, showers and lockers on both floors.

August 13, 2019

Development Industrial Texas

HDA Architects Completes 70,000 SF Distribution Center in Ennis, Texas

by Taylor Williams August 13, 2019

ENNIS, TEXAS — St. Louis-based HDA Architects has completed a 70,000-square-foot distribution center for Price Distributing, which services the beer industry, in Ennis, a southern suburb of Dallas. The tilt-wall facility includes approximately 62,000 square feet of warehouse space, 3,500 square feet of cooler space and office space. Construction began in 2018.

August 13, 2019

Industrial Leasing Activity Texas

JDS Industries Signs 93,703 SF Industrial Lease in Metro Dallas

by Taylor Williams August 13, 2019

GRAND PRAIRIE, TEXAS — JDS Industries, a provider of promotional materials and sign supplies, has signed a 93,703-square-foot industrial lease at MacArthur Crossing, an industrial development in Grand Prairie, roughly midway between Dallas and Fort Worth. Drew Feagin and Luke Davis of Stream Realty Partners represented JDS Industries in the lease negotiations. The representative of the landlord was not disclosed.

August 13, 2019

Loans Multifamily Texas

LMI Capital Arranges $15M Loan for Refinancing of Metro Houston Apartments

by Taylor Williams August 13, 2019

BAYTOWN, TEXAS — LMI Capital, a Real Estate Capital Alliance (RECA) member, has arranged a $15 million loan for the refinancing of a 255-unit multifamily community in Baytown, an eastern suburb of Houston. Brandon Brown of LMI Capital placed the loan, which carried a fixed interest rate of 4.18 percent and three years of interest-only payments. The borrower and property name were not disclosed.

August 13, 2019

Market Reports Retail Southeast Southeast Market Reports Tennessee

Impressive Retail Growth Makes Chattanooga More Than Just a Place to Visit

by Taylor Williams August 13, 2019

If you have visited Chattanooga in the past year, it should come as no surprise that you are in fine company. Mayors and Economic Development executives from across the nation have been flocking to the Scenic City. Envious of the Chattanooga success story, they have come to witness firsthand the ongoing transformation that has made Chattanooga one of the most livable, sensational and progressive mid-sized cities in America. The Chattanooga retail market is strong, chiefly due to the overall health and culture of the entire city. River City Co., a longtime successful, private nonprofit led by CEO Kim White, touts itself as the economic development engine for downtown. It reports the cost of living in vibrant downtown Chattanooga is 15.9 percent less than the national average. This has drawn everyone from millennials to retirees to the vibrancy and livability of the city. Tourism in a non-coastal Southern city with fewer than 180,000 residents may seem not even worth pursuing, but Chattanooga hosts more than 3 million annual visitors. Travelers are lured by destinations such as the Tennessee Aquarium, Children’s Discovery Museum and the IMAX. There are also events such as the Ironman; the Head of the Hooch, which is one …

August 13, 2019

Acquisitions Colorado Multifamily New York Northeast Top Stories Western

UDR, MetLife to Swap Stakes in Joint Venture Multifamily Portfolio Valued at $1.8B

by John Nelson August 13, 2019

DENVER AND NEW YORK CITY — UDR Inc. (NYSE: UDR), a multifamily REIT based in Denver, has struck an agreement with its joint venture partner MetLife Investment Management to swap their interests in a national multifamily portfolio in a deal valued at nearly $1.8 billion. As part of the agreement, UDR will buy out MetLife’s stake in 10 apartment communities, one property under construction and four development land sites that are collectively valued at $1.1 billion. The 10 properties total 3,321 units and include Strata in San Diego; Crescent Falls Church in Falls Church, Va.; Charles River Landing, Lodge at Ames Pond and Lenox Farms in metro Boston; Towson Promenade in Towson, Md.; and the 1,513-unit, four-property Vitruvian Park campus in Addison, Texas. The assets have an average age of eight years and 95.7 percent occupancy at the time of this announcement. “The acquired communities are primarily located in markets targeted for expansion, are immediately accretive to our earnings, have operational upside and improve the diversification of our portfolio,” says Tom Toomey, chairman and CEO of UDR. Also as part of the agreement, MetLife Investment Management will purchase UDR’s stake in five apartment communities valued at a combined $645 million. …

August 13, 2019

Development Florida Loans Office Southeast

JLL Arranges $300M Construction Loan for Office Tower in Miami

by Alex Tostado August 12, 2019

MIAMI — JLL has arranged a $300 million construction loan for the development of 830 Brickell, a 56-story, 1 million-square-foot office tower in Miami’s Brickell district. MSD Partners provided the four-year loan to the developers, a joint venture between OKO Group and Cain International. Located at 830 SE First Ave., 830 Brickell is slated for completion in early 2022. The property is situated next to a MetroMover station, as well as Brickell City Centre, a $1.5 billion, 506,000-square-foot mixed-use development.

August 12, 2019

Development Mixed-Use North Carolina Southeast

Beacon Partners to Break Ground on Mixed-Use Project in Charlotte

by Alex Tostado August 12, 2019

CHARLOTTE, N.C. — Beacon Partners is set to break ground this month on The Square at South End, which will include a 10-story building that will feature 150,000 square feet of office space and 8,000 square feet of ground-floor retail space. The project will also include a multifamily building that will be connected by an outdoor plaza. Construction is expected to be complete by the end of 2020. Amenities at the office building will include outdoor decks on multiple floors, a 2,400-square-foot coffee bar for tenants and guests, two-story fitness center, outdoor wellness area and a 2,500-square-foot patio overlooking Uptown Charlotte. As part of the project, Beacon will partner with Mecklenburg County Park and Recreation to develop Wilmore Centennial Park, a 1.5-acre park located at the intersection of South Tryon and Kingston streets. Centro Cityworks will develop the multifamily portion of The Square at South End. The design teams for the office portion includes Axion as the architect, Edifice as the general contractor and LandDesign as the civil engineer. Kristy Venning and Erin Shaw of Beacon Partners will handle leasing. Sauceman’s, a local barbecue restaurant, plans to relocate to a new, larger space next to Sugar Creek Brewery.

August 12, 2019

Acquisitions Georgia Industrial Southeast

IDI Logistics Sells 750,000 SF Industrial Building in Central Georgia to Five Below

by Alex Tostado August 12, 2019

FORSYTH, GA. — IDI Logistics has sold a 750,000-square-foot, build-to-suit industrial facility to Five Below in Forsyth. The new building, which IDI delivered in May, features 40-foot clear heights. This was the first building delivered within IDI’s Meridian 75 Logistics Center, a 250-acre industrial park located about 60 miles south of downtown Atlanta. Five Below has occupied the entire distribution facility since it opened. Founded in 2002, Philadelphia-based Five Below is a national retailer that sells products that cost $5 or less. Bob Robers and Pat Murphy of Cushman & Wakefield represented IDI Logistics in the transaction. Mark Sims, Ray Stache and Lisa Pittman of Cushman & Wakefield represented Five Below. The sales price was not disclosed.

August 12, 2019

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