Property Type

FedEx Logistics to Consolidate, Move Global Headquarters to Downtown Memphis

by Alex Tostado February 15, 2019

MEMPHIS, TENN. — FedEx Logistics, a subsidiary of FedEx Corp., will move its global headquarters to the site of the former Gibson Guitar factory building, a 145,000-square-foot facility located at 145 George W. Lee Ave. near Beale Street in downtown Memphis. FedEx Logistics plans to consolidate multiple locations and more than 700 employees to the site over the next several years. The company will occupy the space beginning in April 2020. FedEx Logistics plans to add a mezzanine level that will bring the total square footage to nearly 200,000. LRK will be the architect for the expansion project.

February 15, 2019

Development Florida Mixed-Use Multifamily Southeast

Bainbridge Cos. Delivers 218-Unit Multifamily Project in Tampa Bay Area

by Alex Tostado February 15, 2019

ST. PETERSBURG, FLA. — Bainbridge Cos. has delivered 930 Central Flats, a 218-unit multifamily complex in St. Petersburg’s Edge District. The Tampa Bay area project also includes underground parking, ground-floor amenities and five stories of apartments. The complex offers studio, one- and two-bedroom floor plans and amenities including a beach-style swimming pool, sun decks, barbecue grills and lounge seating, dog spa, rooftop garden and community dining tables. The site is situated less than a mile from downtown St. Petersburg and Tropicana Field, home of the Tampa Bay Rays.

February 15, 2019

Acquisitions Florida Retail Southeast

HFF Negotiates $43M Sale of LA Fitness-Anchored Shopping Center in South Florida

by Alex Tostado February 15, 2019

WELLINGTON, FLA. — HFF has arranged the $43 million sale of The Pointe at Wellington Green, a 107,368-square-foot shopping center in Wellington. HFF represented the seller, The Centre at Wellington Green Ltd., in the transaction. The asset was 96 percent leased at the time of the sale to tenants including LA Fitness, Saito’s Japanese Steak House, Sport Clips, Five Guys, Jamba Juice, Olive Garden, Don Ramon Cuban Cuisine and Franco’s Italian Restaurant. The property is situated on 21.3 acres, about 14 miles west of West Palm Beach. HFF also arranged a $13.5 million, 13-year, fixed-rate acquisition loan through Principal Real Estate Investors on behalf of the buyer, The Pointe at Wellington LLC.

February 15, 2019

Acquisitions North Carolina Office Southeast

Cushman & Wakefield Arranges Sale of 117,138 SF Office Building in Raleigh

by Alex Tostado February 15, 2019

RALEIGH, N.C. — Cushman & Wakefield has arranged the sale of Legacy at Brier Creek, a four-story, 117,138-square-foot office building in Raleigh. Legacy at Brier Creek delivered in December 2017 and was fully leased at the time of the sale and anchored by Infosys, an Indian multinational corporation that provides business consulting, information technology and outsourcing services. The asset is situated about 13 miles northwest of Raleigh and about nine miles southeast of Durham. David Finger, Sara Owen, David Meline and Samir Idris of Cushman & Wakefield represented the undisclosed seller in the transaction. Zurich Alternative Asset Management LLC represented the buyer, a member company of Zurich North America, in the transaction. The sales price was not disclosed.

February 15, 2019

Development Retail Southeast Tennessee

Tanger Outlets Announces Plans for New Mall in Downtown Nashville

by Alex Tostado February 15, 2019

NASHVILLE, TENN. — Tanger Outlets has announced plans to open a new outlet mall in downtown Nashville. This will be Tanger’s second location in Tennessee and 43rd in the United States. The site will comprise 300 acres off Interstate 24. At full build-out, it will offer 280,000 square feet of leasable space. The company said it will not break ground until the property is at least 60 percent leased.

February 15, 2019

Development Office Texas

Cypress, Greenbelt to Develop 162,000 SF Office Project in East Austin

by Taylor Williams February 15, 2019

AUSTIN, TEXAS — National development firm Cypress Real Estate Advisors and Austin-based Greenbelt Commercial LLC will develop Eastlake at Tillery, a 162,000-square-foot office project in East Austin. The property will consist of two buildings and an above-ground parking garage. Delineate Studios is handling design of the project and AQUILA Commercial is handling leasing. The groundbreaking is slated for fall 2019 and completion is scheduled for 2020.

February 15, 2019

Acquisitions Office Texas

Admiral Capital Acquires 161,131 SF Office Building in Frisco

by Taylor Williams February 15, 2019

FRISCO, TEXAS — New York City-based investment firm Admiral Capital Group has acquired Duke Bridges III, a 161,131-square-foot office building located in the northern Dallas suburb of Frisco. The property was built in 2007 and was 94 percent leased at the time of sale to tenants in the technology, government and business services sectors. Admiral Capital also acquired with Parkwood Place, a 98,750-square-foot office complex in Plano that was sold by California-based KBS.

February 15, 2019

Acquisitions Multifamily Seniors Housing Texas

Blueprint Brokers Sale of Eight Skilled Nursing Facilities in Texas

by Taylor Williams February 15, 2019

NEW YORK — Blueprint Healthcare Real Estate Advisors has brokered the sale of eight skilled nursing facilities located throughout Texas. Chicago-based Mozart Healthcare acquired seven of the facilities and negotiated leases with two Texas-based operators to run the portfolio. Regional operator Trinity Healthcare acquired the eighth facility. Christopher Hyldahl and Gideon Orion of Blueprint represented the seller, a national owner based in New York. The prices and names of the facilities were not disclosed.

February 15, 2019

Leasing Activity Office Texas

Coworking Firm to Open 30,000 SF Office Space in Frisco

by Taylor Williams February 15, 2019

FRISCO, TEXAS — Coworking firm Venture X will open a 30,000-square-foot office space at Stonebrook Business Park in Frisco. Chris Doggett and Ashley Curry of JLL represented the landlord, Goveia Commercial Real Estate, in the lease negotiations. Ryan Hoopes and Tom Sutherland with Cushman & Wakefield represented Venture X, which has five open locations in the DFW area and several more in the pipeline. The Stonebrook space is expected to open during the second quarter.

February 15, 2019

Acquisitions Healthcare Texas

Marcus & Millichap Arranges $6.8M Sale of Medical Office Property in Metro Houston

by Taylor Williams February 15, 2019

HUMBLE, TEXAS — Marcus & Millichap has arranged the $6.8 million sale of McKay Medical Plaza, a 23,886-square-foot medical office building in the northern Houston metro of Humble. David Luther and Morgan Hansen of Marcus & Millichap represented the seller and procured the buyer in the transaction. Both parties were limited liability companies that requested anonymity.

February 15, 2019

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