Property Type

Cushman & Wakefield Brokers $52.1M Sale of Multifamily Community in Metro Atlanta

by Camren Skelton September 25, 2018

DULUTH, GA. — Cushman & Wakefield has brokered the $52.1 million sale of The Marquis on Berkeley, a 323-unit apartment community in Duluth, approximately 30 miles northeast of Atlanta in Gwinnett County. Mike Kemether, Travis Presnell and Josh Goldfarb of Cushman & Wakefield arranged the transaction on behalf of the undisclosed seller. A local private operator acquired the property. The Marquis on Berkeley includes a mix of one-, two- and three-bedroom floor plans. Community amenities include a playground, sundeck, fitness center, garages, lighted tennis courts and a resort-style pool.

September 25, 2018

Acquisitions Office Southeast Virginia

Bridge Acquires 255,000 SF Office Campus in Metro D.C.

by Camren Skelton September 25, 2018

RESTON, VA. — Bridge Investment Group has acquired The Campus at Sunrise, a 255,000-square-foot office campus in Reston. The three-building property is situated on 12 acres, roughly 22 miles west of Washington, D.C. Bridge will renovate all three buildings, constructed between 1987 and 1990, with updated lobby areas, an enhanced tenant amenity center, flexible spec suites, communal outdoor areas and special events and entertainment for tenants. The Campus at Sunrise is situated within walking distance to the Wiehle-Reston East Metro station and a half-mile from the planned Reston Station mixed-use community, which will include 100,000 square feet of restaurants and retail, as well as residential units. The office campus was 85 percent leased at the time of sale. The name of the seller and sales price were not disclosed.

September 25, 2018

Acquisitions Multifamily Southeast Virginia

Colliers Arranges $39.5M Sale of Apartment Community in Richmond

by Camren Skelton September 25, 2018

RICHMOND, VA. — Colliers International has arranged the $39.5 million sale of Axis 147, a 290-unit apartment community in Richmond. Will Matthews, Carter Wood, Jason Hetherington and Bruce Milam of Colliers International arranged the transaction on behalf of the seller, a joint venture between Lincoln Property Co. and Ritz Banc Group. Capital Square 1031 acquired the asset. Axis 147 features a pool, playground, pet play area, sundeck and private balconies or patios.

September 25, 2018

Plastic-Bagging-and-Packaging-Inc.-Houston

Development Industrial Texas

Trammell Crow Breaks Ground on 519,224 SF Distribution Center in Houston

by Taylor Williams September 25, 2018

HOUSTON — Trammell Crow Co. (TCC) has broken ground on a new, 519,224-square-foot distribution center in Houston for international supplier Plastic Bagging & Packaging Inc. The Class A, rail-served facility, which will ultimately be capable of processing up to 70 tons of resin per hour, will be located within Cedar Port Industrial Park on the city’s east side. Building features will include 32-foot clear heights, 60-foot speed bays and 8,000 square feet of office space. E.E. Reed is serving as general contractor for the project, which is slated for a summer 2019 completion.

September 25, 2018

Acquisitions California Loans Office Western

PCCP Provides $128M Acquisition Loan for 540,000 SF Office Portfolio in Southern California

by Amy Works September 25, 2018

NEWPORT BEACH AND IRVINE, CALIF. — PCCP has provided a $128 million senior loan to a joint venture between Angelo Gordon and Lincoln Property Co. for the acquisition and leasing of a four-property office portfolio in Newport Beach and Irvine. Totaling 540,000 square feet, the portfolio includes the 181,000-square-foot Redstone Plaza, an 83,000-square-foot property at 1201 Dove St. in Newport Beach, the 163,000-square-foot Inwood Park and the 112,000-square-foot Newport Summit in Irvine. Tenants from a range of industries — including finance, marketing, tech, food and beverage, legal, healthcare and real estate — occupy the properties. The buyer plans to execute an improvement plan to capitalize on strong rent growth and leasing in the submarket, as well as fill any remaining vacancy.

September 25, 2018

Development Multifamily Seniors Housing Texas

Civitas to Open Two Seniors Housing Communities in Greater Austin

by Taylor Williams September 25, 2018

AUSTIN, TEXAS — Fort Worth-based Civitas Senior Living plans to open Double Creek Assisted Living and Memory Care in Round Rock and Tech Ridge Oaks Assisted Living and Memory Care in North Austin. These two communities, which offer 92 and 86 units, respectively, are the result of a partnership between Civitas Senior Living and Senior by Design. Civitas acquired the properties in July. Each community offers dining options, a beauty salon, theater, therapy gym, landscaped courtyards and daily activities to promote engagement and encourage social interaction. Civitas plans to open Double Creek on Oct. 25 and Tech Ridge Oaks on Nov. 8.

September 25, 2018

Florida Loans Mixed-Use Southeast

TREO Group Receives $33M Construction Loan for Mixed-Use Waterfront Project in Miami’s Coconut Grove

by Camren Skelton September 25, 2018

MIAMI — The TREO Group has received a $33 million loan from FirstBank Florida for the construction of Regatta Harbour, a mixed-use waterfront development located in Miami’s Coconut Grove neighborhood. The project will be located at Dinner Key, a marina complex situated along the shore of Biscayne Bay. Upon completion, the 100,000-square-foot development will include retail space, three waterfront restaurants and a rooftop event space, dubbed Harbour Terrace. Historic airplane hangars dating back to the early 1900s will be used to create approximately 40,000 square feet of space for a food hall, specialty market, fitness or entertainment concept. In addition, Regatta Harbour will include marina services with dry storage slips for more than 400 vessels, an upgraded and relocated fueling station and 700 feet of transient floating docks. Architecture firm Arquitectonica is designing the project, which will be delivered in multiple phases. The new dry-storage marina is scheduled for completion in November, the retail component in the summer of 2019 and the waterfront restaurants in 2020. Lyle Stern and Sara Wolfe of Koniver Stern Group are handling the project’s leasing assignment.

September 25, 2018

Acquisitions Industrial Texas

ML Realty Partners Acquires 81,435 SF Industrial Building in Carrollton, Texas

by Taylor Williams September 25, 2018

CARROLLTON, TEXAS — ML Realty Partners has acquired an 81,435-square-foot industrial building located at 2908 Commodore Drive in Carrollton, a northern suburb of Dallas. The Class A building offers convenient access to Interstate 35 and State Highway 121. Michelle Hudson and Tom Hudson of Hudson Peters Commercial represented the undisclosed seller in the transaction and will handle leasing of the building for ML Realty Partners.

September 25, 2018

Industrial Leasing Activity Lee & Associates Texas

Lee & Associates Negotiates 136,825 SF Industrial Lease in Metro Dallas

by Taylor Williams September 25, 2018

GARLAND, TEXAS — Lee & Associates has negotiated a 136,825-square-foot industrial lease at 2901 W. Kingsley Road in Garland, a northeastern suburb of Dallas. Nathan Denton of Lee & Associates represented the tenant Alliance Glazing, which does finish-outs of storefronts and façades, in the lease negotiations. Chris Stout and Randy Touchstone of JLL represented the landlord, Boston-based STAG Industrial. The tenant will relocate from its current space in Irving on November 1.

September 25, 2018

Acquisitions Arkansas Multifamily Southeast

HFF Negotiates Sale of 308-Unit Multifamily Property in Fayetteville, Arkansas

by Camren Skelton September 25, 2018

FAYETTEVILLE, ARK. — HFF has arranged the sale of Uptown Fayetteville Apartments+Shops, a 308-unit apartment community in Fayetteville. The eight-building property is located at 3959 N. Steele Blvd., roughly four miles north of downtown Fayetteville and the University of Arkansas. Steven Hahn Jr., Roberto Casas and Greg Toro of HFF arranged the transaction on behalf of the seller, Specialized Real Estate Group. In addition, Brian Carlton of HFF arranged a 10-year, fixed-rate acquisition loan through Freddie Mac on behalf of the buyer, Sun Holdings Group. The sales price and financing amount were not disclosed. Constructed in 2017, Uptown Fayetteville Apartments+Shops includes a mix of studio to two-bedroom units averaging 828 square feet, as well as 17,000 square feet of ground-floor retail. The LEED-certified community features a heated saltwater pool, outdoor gathering space, community garden, landscaped roof deck, outdoor grilling area, fitness center and direct access to the Razorback Regional Greenway, a 36-mile, multi-use trail.

September 25, 2018

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