Property Type

Midas Hospitality Opens Marriott-Branded Hotel in South Charlotte

by Alex Tostado February 14, 2019

CHARLOTTE, N.C. — Midas Hospitality has opened its third Residence Inn by Marriott hotel in Charlotte. The four-story, 119-room The Residence Inn Charlotte Steele Creek is located at 5110 Trojan Drive, about 10 miles south of downtown Charlotte and seven miles south of Charlotte Douglas International Airport. The 82,000-square-foot hotel offers studio, one- and two-bedroom suites. Henry Schmidlin and Sue Wing of Midas will serve as general manager and director of sales, respectively. Midas’ sister company, MC Hotel Construction, served as the general contractor.

February 14, 2019

Industrial Leasing Activity Texas

Holt Lunsford Negotiates 200,000 SF Industrial Lease Renewal in Fort Worth

by Taylor Williams February 14, 2019

FORT WORTH, TEXAS — Holt Lunsford Commercial has negotiated a 200,000-square-foot industrial lease renewal at 6401 Oak Grove Road in Fort Worth. Matt Carthey and Thomas Grafton of Holt Lunsford represented the landlord, TA Realty. Reid Bassinger of Lee & Associates represented the tenant, consumer goods distributor Core-Mark Midcontinent.

February 14, 2019

Acquisitions Georgia Multifamily Southeast

FCP Acquires Apartment Complex in Metro Atlanta for $29.5M

by Alex Tostado February 14, 2019

AUSTELL, GA. — FCP has acquired Chroma Park, a 210-unit, garden-style apartment complex in Austell, for $29.5 million. The property is situated at 2105 Mesa Valley Way, about 20 miles west of downtown Atlanta. Amenities at Chroma Park include a fitness center, lighted tennis courts, resort-style swimming pool, dog park and playground. FCP plans on investing in capital improvements across the property, including upgrades to the buildings, amenities and interiors. Travis Presnell of Cushman & Wakefield represented the undisclosed seller in the transaction.

February 14, 2019

Acquisitions Office Texas

KBS Sells 98,750 SF Office Building in Plano’s Legacy District

by Taylor Williams February 14, 2019

PLANO, TEXAS — California-based private equity real estate firm KBS has sold Parkwood Place, a 98,750-square-foot office building located in the Legacy area of Plano, a northeastern suburb of Dallas. The two-story, Class A building, which offers a tenant lounge and a conference facility, was approximately 91 percent leased at the time of sale. Robert Hill, Gary Carr and John Alvarado of CBRE represented KBS in the sale. The buyer was not disclosed.

February 14, 2019

Florida Loans Multifamily Southeast

HFF Arranges $28.9M in Equity for Development of Apartment Community in Orlando

by Alex Tostado February 14, 2019

ORLANDO, FLA. — HFF has arranged $28.9 million in equity financing for the development of Radius Apartments in Orlando. The 13-story, 389-unit community will be situated two blocks north of Lake Eola and less than a mile north of downtown Orlando. HFF worked on behalf of an affiliate of Banner Real Estate Group to arrange $14.9 million in joint venture equity from Westminster Capital LLC and $14 million in preferred equity through a blue-chip life company. The building is slated for completion in 2020 and will feature 12 stories of residential space situated above street-facing retail space on the first floor, an adjacent six-story parking garage and a public courtyard. The roof of the parking garage will be utilized as an amenity deck that will include a pool, cabanas, outdoor kitchen, dining and grilling area, bar and sun shelf.

February 14, 2019

Industrial Leasing Activity Texas

NAI Partners Arranges Two Industrial Leases Totaling 54,480 SF in Houston

by Taylor Williams February 14, 2019

HOUSTON — NAI Partners has arranged two industrial leases totaling 54,480 square feet at Round Up Distribution Center in Houston. In the first transaction, U.S. Tsubaki Power Transmission, a provider of roller chains and sprockets, leased 26,400 square feet. In the second deal, LaForce Inc., a distributor of commercial doors, leased 28,080 square feet. Ryan Searle, Nick Peterson and John Ferruzzo of NAI Partners represented the landlord, Liberty Property Trust, in both lease negotiations.

February 14, 2019

Acquisitions Florida Retail Southeast

Joint Venture Sells Publix-Anchored Shopping Center in South Florida for $19.4M

by Alex Tostado February 14, 2019

BOYNTON BEACH, FLA. — A joint venture between MMG Equity Partners and Global Fund Investments has sold Whitworth Farms, an 88,424-square-foot, Publix-anchored shopping center in Boynton Beach, for $19.4 million. The asset is located at 12425 Hagen Ranch Road, about 11 miles north of downtown Boca Raton. The center was 96.1 percent leased at the time of the transaction. The seller was not disclosed.

February 14, 2019

Development Industrial Midwest Ohio

Pizzuti, Centerpoint Unveil Development Plans for 848,160 SF Industrial Facility in Central Ohio

by Kristin Harlow February 14, 2019

WEST JEFFERSON, OHIO — The Pizzuti Companies and Centerpoint Development LLC have unveiled plans to develop an 848,160-square-foot speculative industrial facility in West Jefferson. The warehouse will be constructed on a 55-acre site near I-70. Construction is expected to begin this spring, with completion slated for the end of the year. The facility will feature a clear height of 36 feet, 300 trailer spaces and LED lighting. Pizzuti will provide property management and leasing services for the new building.

February 14, 2019

Development Midwest Multifamily Ohio Seniors Housing

110-Unit Seniors Housing Property Opens in Suburban Dayton, Ohio

by Kristin Harlow February 14, 2019

BEAVERCREEK, OHIO — Project partners Confluent Senior Living and Harbor Retirement Associates (HRA) have opened HarborChase of Beavercreek, a 110-unit seniors housing property in Beavercreek, a suburb of Dayton. Located at 4175 Indian Ripple Road, the property includes 64 assisted living units and 46 memory care apartments. Community amenities include a bar and lounge, beauty salon, library, fitness center, game room, putting green and concierge services. The project team included Eppstein Uhen Architects and The Douglas Company as general contractor.

February 14, 2019

Loans Michigan Midwest Retail

Juniper Capital Group Arranges $10.5M Acquisition Loan for Shopping Center in Troy, Michigan

by Kristin Harlow February 14, 2019

TROY, MICH. — Juniper Capital Group has arranged a $10.5 million bridge loan for the acquisition of Cross Creek, a 141,468-square-foot shopping center in Troy. Bob’s Discount Furniture recently signed a lease for the former Babies ‘R’ Us space. Kohl’s also occupies the property. Nate Lowy of Juniper Capital arranged the nonrecourse loan on behalf of the borrower, Weissman Corp. C3 Capital Partners provided the loan.

February 14, 2019

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