Property Type

Bahrain Sovereign Wealth Fund, Sentinel Buy Office Campus in Charlotte

by Alex Tostado November 21, 2018

CHARLOTTE, N.C. — Bahrain Mumtalakat Holding Co. (Mumtalakat), the sovereign wealth fund of the Kingdom of Bahrain, in partnership with Sentinel Real Estate Investment Corp., has acquired two office buildings in Charlotte for $136.8 million, according to Triad Business Journal. The seller was undisclosed. The 421,863-square-foot property is fully occupied by The Lash Group, a pharmaceutical and healthcare service provider. This is the second purchase Mumtalakat has made in the U.S. this year. In February, also with Sentinel, Mumtalakat acquired Lenovo’s Raleigh-Durham campus.

November 21, 2018

Development Georgia Industrial Southeast

Toyo Tire North America to Invest $138M in North Georgia Plant

by Alex Tostado November 21, 2018

CARTERSVILLE, GA. — Georgia Gov. Nathan Deal announced that Toyo Tire North America Manufacturing Inc. will invest $138 million to complete a two-phase expansion at its campus in Cartersville. Upon completion of the new 254,000-square-foot facility, manufacturer’s campus will house 2,100 employees. The new positions will include production, support and administration with an annual production capacity of 2.4 million passenger vehicle tires. In 2016, Toyo Tire North America Manufacturing Inc. became the Toyo Tire Group’s largest manufacturing operation with an annual production capacity of 11.5 million tires. Toyo Tire began operations in Cartersville in 2006.

November 21, 2018

Florida Leasing Activity Mixed-Use Southeast

Stiles, Shorenstein Sign GreenWise at Mixed-Use Project in Downtown Fort Lauderdale

by Alex Tostado November 21, 2018

FORT LAUDERDALE, FLA. — Joint venture partners Fort Lauderdale-based Stiles and San Francisco-based Shorenstein Properties LLC have signed Publix Super Markets to a lease for its GreenWise Market brand at The Main Las Olas in downtown Fort Lauderdale. GreenWise Market is a specialty, natural and organic store featuring a variety of house-prepared meals and grab-and-go items. The Main Las Olas is under construction and will include a 25-story office building, 341-unit residential tower and ground-floor retail spanning a city block. GreenWise Market will occupy 28,000 square feet of ground-floor retail space. The Main Las Olas is slated to be completed in fall 2020.

November 21, 2018

Acquisitions Florida Retail Southeast

Collett Capital, Long Wharf Capital Acquire Orlando Shopping Center for $26.2M

by Alex Tostado November 21, 2018

ORLANDO, FLA. — Collett Capital and Long Wharf Capital have acquired a 186,000-square-foot shopping center in Orlando for $26.2 million. International Drive Value Center is located six miles from downtown Orlando, about nine miles northeast of Walt Disney World and less than one mile southeast of Universal Studios. The shopping center was 95 percent leased at the time of the sale to tenants such as Bed Bath & Beyond, Ross Dress for Less, T.J. Maxx, dd’s DISCOUNT, Five Below and Dollar Tree. Brad Peterson, Whitaker Leonhardt and Michael Brewster of HFF represented the seller, Retail Value Inc. Travis Anderson, Cory Fowler and Rebcca Van Reken, also of HFF, placed $18.9 million in acquisition financing for the buyers.

November 21, 2018

Industrial Leasing Activity South Carolina Southeast

GSP North America Leases 115,764 SF of Industrial Space in Upstate South Carolina

by Alex Tostado November 21, 2018

SPARTANBURG, S.C. — GSP North America Co. Inc. has leased 115,764 square feet of industrial space in Spartanburg, located at 2725 New Cut Road, about 29 miles northeast of BMW’s American headquarters. GSP specializes in distributing and providing auto parts. Brian Young, Elliott Fayssoux and Kacie Jackson of Cushman & Wakefield | Thalhimer represented the landlord, Becknell Industrial, in the transaction. Brockton Hall, Garrett Scott and John Montgomery of Colliers International represented the tenant.

November 21, 2018

Loans Office Texas

Thorofare Capital Provides $36M for Refinancing of Two-Building Office Complex in Dallas

by Taylor Williams November 21, 2018

DALLAS — California-based Thorofare Capital has provided a $36 million loan for the refinancing of Heritage Square I & II, an office complex totaling 368,214 square feet in Dallas. The Class A property is located at the corner of Interstate 635 and the North Dallas Tollway. Proceeds will be used to repay a maturing loan and fund tenant improvements, leasing commissions and other capital expenditures. The loan was provided to the borrower, Brookwood Heritage Square LLC, an entity sponsored by Brookwood Financial Partners LLC, which acquired the asset in 2013.

November 21, 2018

Civic Development Texas

Grand Prairie Opens 125,000 SF Fitness, Entertainment Center in Metro Dallas

by Taylor Williams November 21, 2018

GRAND PRAIRIE, TEXAS — The City of Grand Prairie, located just west of Dallas, has opened The Epic, a 125,000-square-foot fitness and entertainment center. Situated within EpicCentral, a 172-acre development that includes a water park and adult activity center, The Epic features fitness facilities, entertainment and event space, as well as multiple onsite dining options. Architecture firm HKS designed the facility. The grand opening was held Saturday, Nov. 17. The development team will also break ground in January on a 10-acre PlayGrand Adventures park, which will be also located within EpicCentral.

November 21, 2018

The-Hamlins-at-Cedar-Creek-Lake-Kemp-Texas

Loans Multifamily Texas

Dougherty Closes $12.6M Acquisition Loan for Apartment Property in Kemp, Texas

by Taylor Williams November 21, 2018

KEMP, TEXAS — Dougherty Mortgage LLC has closed a $12.6 million Fannie Mae acquisition loan for The Hamlins at Cedar Creek Lake, a 208-unit multifamily property in Kemp, about 50 miles southeast of Dallas. The community offers one- and two-bedroom units and amenities such as a resort-style pool, resident clubhouse, fitness center, business center and package handling service. The loan, which was arranged through a partnership with Old Capital Lending on behalf of the borrower, TFG Hamlins LLC, featured a 12-year term and 30-year amortization schedule.

November 21, 2018

Leasing Activity Office Texas

Coworking Firm to Open 28,000 SF Space at Greenway Plaza in Houston

by Taylor Williams November 21, 2018

HOUSTON — CommonGrounds, a San Diego-based coworking concept, will open a 28,000-square-foot space at Greenway Plaza in Houston. The space will be integrated into The Hub, the center of the 11-building office campus. The space, which will be the company’s second in Texas and 12th overall, is slated to open in spring 2019.

November 21, 2018

Acquisitions Lee & Associates Office Texas

Lee & Associates Brokers Sale of 20,954 SF Office Building in Angleton, Texas

by Taylor Williams November 21, 2018

ANGLETON, TEXAS — Lee & Associates has brokered the sale of a 20,954-square-foot office building located at 2309 W. Mulberry St. in Angleton, a city situated roughly 50 miles south of Houston. Reed Vestal and Taylor Schmidt of Lee & Associates represented the seller in the transaction. Debbie Cowart of Coldwell Banker Commercial represented the buyer. Both parties requested anonymity.

November 21, 2018

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