Property Type

Arch Cos., Lakestar Properties Buy 350,000 SF Office Property in Charlotte for $63M

by Amy Works October 15, 2018

CHARLOTTE, N.C. — Arch Cos. and Lakestar Properties have acquired Cambridge, an office property located in Charlotte, for $63 million. The name of the seller was not released. Constructed in 1990 on a 50-acre parcel within University Research Park, the 350,000-square-foot campus offer tech-centric office space for multiple tenants. The property features floor-to-ceiling windows, skylights, an open-air atrium, outdoor meeting spaces, on-site parking and a fitness center. Additionally, the building’s infrastructure includes a redundant power supply, high-floor loads and fiberoptic lines. Arch Cos. and Lakestar Properties funded the acquisition using $50.4 million in fixed-rate financing. Abe Katz and Mark Silbersher of Walker & Dunlop arranged the first mortgage loan through Citigroup and a mezzanine loan through Morrison Street Capital.

October 15, 2018

Development Industrial Northeast Rhode Island

Retail Business Services Breaks Ground on Distribution Facility in Rhode Island

by David Cohen October 15, 2018

NORTH KINGSTOWN, R.I. — Retail Business Services has broken ground on a 200,000-square-foot protein packaging and distribution facility in North Kingstown. Infinity Meat Solutions will occupy the facility, where it will handle beef, pork and prepared meats. Cargill Protein will manage the site’s operations and workforce. The facility is expected to bring approximately 700 jobs to North Kingstown.

October 15, 2018

Acquisitions New Jersey Northeast Office

NAI James E. Hanson Negotiates Sale of 14,000 SF Office Building in Montvale, New Jersey

by David Cohen October 15, 2018

MONTVALE, N.J. — NAI James E. Hanson has negotiated the sale of a 14,000-square-foot office building in Montvale. The price was not disclosed. Located at 50 Craig Road, an undisclosed buyer acquired the 3.8-acre property and plans to convert the office building into a medical diagnostic center. NAI James E. Hanson represented the seller, Premier Associates LLC, in the transaction.

October 15, 2018

Acquisitions Georgia Multifamily Southeast

Hudson Capital Properties Purchases New Multifamily Community in Metro Atlanta for $49M

by Amy Works October 15, 2018

SANDY SPRINGS, GA. — Hudson Capital Properties has acquired Northridge Vista, a newly constructed multifamily community located at 550 Northridge Parkway in Sandy Springs. An undisclosed seller sold the property for $49 million. The property features 220 units in a mix of one- and two-bedroom layouts. Community amenities include a fitness center with cardio deck, swimming pool, controlled access, business center, dog park, resident lounge with coffee bar and outdoor kitchen with seating and a fire pit.

October 15, 2018

Acquisitions Retail Southeast West Virginia

Regency Properties Acquires Three Retail Centers in West Virginia

by Amy Works October 15, 2018

ELKINS AND SUMMERSVILLE, W.VA. — Regency Properties has purchased three shopping centers in West Virginia for an undisclosed price. The three properties will add a combined total of 319,194 square feet to Regency’s portfolio. The portfolio includes the 145,127-square-foot Merchants Walk, a center in Summersville leased to Dollar Tree, AT&T, Hibbett Sports, Peebles and Anytime Fitness. The other assets include Valley Pointe and The Plantation, both of which are located in Elkins. The 118,379-square-foot Valley Pointe center is leased to Peebles, Mattress Warehouse, GameStop, El Herradura and GNC. The 55,688-square-foot Plantation is leased to Goodwill, Dollar Tree, Anytime Fitness and Cricket Wireless. Based in Evansville, Ind., Regency Properties is a shopping center owner and investor with nearly 70 centers across 19 states. Regency now owns and manages four properties in West Virginia, the fourth being Country Roads Plaza in Hinton.

October 15, 2018

Loans Multifamily Southeast Student Housing Tennessee

NorthMarq Arranges $12.7M Acquisition Loan for Student Housing Community Near Austin Peay in Tennessee

by Amy Works October 15, 2018

CLARKSVILLE, TENN. — NorthMarq Capital has arranged $12.7 million in acquisition financing for University Landing, a 385-bed student housing community located two blocks from Austin Peay State University in downtown Clarksville, about 50 miles north of Nashville. Lee Weaver of NorthMarq secured the permanent, Fannie Mae financing for the undisclosed borrower. The fixed-rate loan was structured with a 12-year term on a 30-year amortization schedule. The community features studio, one-, two-, three- and four-bedroom layouts that come fully furnished and include in-unit washers and dryers. Community amenities include a resort-style swimming pool with a sundeck, outdoor grilling area, renovated clubhouse, 24-hour fitness center with a yoga studio and studio spin bikes, TV lounge, game room, coffee bar, cyber cafe and study spaces in each building.

October 15, 2018

Development Florida Multifamily Seniors Housing Southeast

Vestcor Opens 96-Unit Affordable Seniors Housing Community Near Jacksonville

by Amy Works October 15, 2018

MIDDLEBURG, FLA. — The Vestcor Cos. has opened Cassie Gardens, a 96-unit affordable seniors housing community in Middleburg, a southwestern suburb of Jacksonville. Cassie Gardens is the only affordable senior living community in Clay County, according to the developer. Vestcor owns 17 affordable housing communities across Florida. The units at Cassie Gardens are age-restricted for those over 55 years old earning less than 60 percent of the area median income.

October 15, 2018

Development Industrial Self-Storage Texas

Jenkins Opens 815-Unit Self-Storage Facility in Frisco

by Taylor Williams October 15, 2018

FRISCO, TEXAS — The Jenkins Organization, a Houston-based self-storage owner, developer and manager, has opened Frisco Self Storage, an 815-unit facility located on the northern outskirts of Dallas. The 90,250-square-foot property features both climate- and non-climate-controlled space, as well as wine storage. The official opening was held in late September.

October 15, 2018

Development Mixed-Use Texas

TIG to Develop 16-Acre Mixed-Use Project in Metro Austin

by Taylor Williams October 15, 2018

GEORGETOWN, TEXAS — Frisco-based TIG Real Estate Services will develop Westinghouse Road Corporate Center, a mixed-use project that will span 16 acres in the northern Austin metro of Georgetown. The property will be located adjacent to a 432-unit townhome community and upon completion will feature office, retail, flex and medical office space. The project is expected to break ground before year’s end and to carry a construction period of six to seven months.

October 15, 2018

Acquisitions Industrial Self-Storage Texas

Marcus & Millichap’s LeClaire Group Brokers Sale of 516-Unit Self-Storage Facility in Houston

by Taylor Williams October 15, 2018

HOUSTON — The LeClaire Group, a division of Marcus & Millichap specializing in self-storage properties, has brokered the sale of Nations Storage, a 516-unit facility located in northwest Houston. The 64,280-square-foot property features climate- and non-climate-controlled space. Dave Knobler and Charles LeClaire of The LeClaire Group represented the seller in the transaction. Other terms of sale were not disclosed.

October 15, 2018

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