Property Type

Allen Morris Co. Completes $68M Mixed-Use Development Near Orlando

by Amy Works October 5, 2018

MAITLAND, FLA. — Coral Gables, Fla.-based The Allen Morris Co. has completed the development of Maitland City Centre, a $68 million mixed-use property located at 190 Independence Lane in Maitland, a northern suburb of Orlando. Encompassing a full, three-acre city block, the six-story development features 220 one- and two-bedroom rental apartments, 24 live/work units (one-bedroom with an office suite) and 35,000 square feet of commercial space with high visibility. On-site amenities include a rooftop pool deck and lounge, business center and co-working space, individual furnished offices for lease, pet wash and grooming facility, private rooftop dog park, fitness center, group fitness room and courtyard yoga lawn and a private courtyard with grilling stations and outdoor living room. Additional amenities include a clubhouse, lounge and game room, mail room café, high-speed Wi-Fi internet throughout the amenity space, access-controlled covered parking and designated Uber and Lyft pick-up stations. The project team includes LAMM & Co., Millenia Partners and ACi Architecture.

October 5, 2018

Acquisitions Retail Texas

R/D Investors Acquires 700,000 SF Retail Power Center in Tulsa for $70M

by Taylor Williams October 5, 2018

TULSA, OKLA. — Dallas-based R/D Investors has acquired Tulsa Hills, a 700,000-square-foot retail power center located at 7336 S. Olympia Ave. in Tulsa. Completed in 2011, the center houses tenants such as Lowe’s Home Improvement, Target, Dick’s Sporting Goods, Best Buy, Marshalls, PetSmart and Ulta Beauty. The seller was not disclosed, but Tulsa World reports that the sale price was $70 million.

October 5, 2018

Fisher59-Distribution-Center-Denton-Texas

Development Industrial Office Texas

Beer Distributor to Open $35M Industrial Facility, Headquarters in Denton

by Taylor Williams October 5, 2018

DENTON, TEXAS — Fisher59, a distributor of alcoholic beverages serving Texas and Oklahoma, will open a $35 million distribution center and headquarters in Denton. Designed by HDA Architects, the 218,800-square-foot project will feature a cross-dock configuration for the warehouse component, as well as 22,000 square feet of office space. The office build-out will deliver executive and private offices, a sales training room, fitness center and a café. Completion is slated for fall 2019.

October 5, 2018

Company News Development Georgia Office Southeast

Floor & Decor to Relocate, Expand Its Headquarters, Creating 500 Jobs in Metro Atlanta

by Amy Works October 5, 2018

ATLANTA — Floor & Decor, a specialty retailer of hard surface flooring and related accessories, plans to relocate and expand its headquarters to Cobb County from Atlanta. The company’s expansion will create 500 jobs, including administrative and customer service positions, over five years, according to Georgia Gov. Nathan Deal. Additionally, the company will receive a $500,000 grant to help establish the new headquarters and could be eligible for more than $3 million in state tax breaks for five if it creates 500 qualifying new jobs, according to the Atlanta Journal-Constitution. Floor & Decor was founded in Atlanta in 2000 and currently operates 95 warehouse-format stores in 26 states, including seven in Georgia. In February, the company opened a 1.4 million-square-foot distribution center, which employs more than 100 people, outside of Savannah.

October 5, 2018

Valwood-Industrial-Park-Carrollton-Texas

Acquisitions Industrial Texas

ML Realty Purchases 102,012 SF Industrial Building in Metro Dallas

by Taylor Williams October 5, 2018

CARROLLTON, TEXAS — ML Realty Partners has purchased a 102,012-square-foot industrial building located within Valwood Industrial Park in Carrollton, a northern suburb of Dallas. The property offers access to Interstate 35 and State Highway 161. Greg Nelson of Paladin Partners represented the seller in the transaction and will retain leasing responsibilities for the property.

October 5, 2018

Holiday-Inn-Express-Suites-Missouri-City

Acquisitions Hospitality Texas

CBRE Negotiates Sale of 84-Room Holiday Inn Express in Metro Houston

by Taylor Williams October 5, 2018

MISSOURI CITY, TEXAS — CBRE has negotiated the sale of Holiday Inn Express & Suites Missouri City West, an 84-room hotel in Missouri City, a southwestern suburb of Houston. Illinois-based Yeluh, LLC purchased the asset from MC Hotels LLC for an undisclosed price. Michael Yu, Rahul Bijlani and Agrama Mannapperuma of CBRE brokered the transaction, which is the seventh Houston-area hotel sold by CBRE’s South Central Hotel team this year.

October 5, 2018

Acquisitions Retail Texas

Marcus & Millichap Arranges Sale of 19,464 SF Retail Center in Vernon, Texas

by Taylor Williams October 5, 2018

VERNON, TEXAS — Marcus & Millichap has arranged the sale of Santa Rosa Retail Center, a 19,464-square-foot retail property in Vernon, a city in northwest Texas. Philip Levy of Marcus & Millichap represented the seller and procured the buyer, both of which were undisclosed private investors. Tenants at the center include Dollar General and Anytime Fitness.

October 5, 2018

Development Hospitality Loans Southeast Tennessee

Goldman Sachs, Lionheart Strategic Management Provide $133M Construction Financing for W Hotel in Nashville’s Gulch District

by Amy Works October 5, 2018

NASHVILLE, TENN. — Goldman Sachs and Lionheart Strategic Management have provided senior and mezzanine financing totaling $133 million for the ground-up construction of a W-branded hotel in Nashville’s Gulch neighborhood. Magellan Development, Corner Partnership and Hospitality Gaming Advisors are developing the 346-room hotel. The senior and mezzanine financing will have co-terminus initial terms of three years. The financing closed in mid-September.

October 5, 2018

Georgia Industrial Leasing Activity Southeast

Duke Realty Signs Home Furniture Manufacturer to 322,500 SF Industrial Lease in Savannah

by Amy Works October 5, 2018

SAVANNAH, Ga. — Duke Realty Corp. has signed a long-term lease with SOFAMANIA, a manufacturer and distributor of fine home furniture. The manufacturer will occupy 322,500 square feet of space at 175 Portside Court in Savannah. The 600,000-square-foot logistics building is located at the intersection of Interstate 95 and GA 21, which is near both the Port of Savannah and Interstate 16. Steve Grable of JLL represented SOFAMANIA, while Brian Sutton provided in-house representation for Duke Realty in the lease transaction. This lease brings Duke Realty’s year-to-date leasing volume in the Savannah market to 2.4 million square feet and occupancy in its 7 million-square-foot portfolio to 100 percent.

October 5, 2018

Loans Mississippi Multifamily Southeast

MLK Real Estate Capital Secures $6.3M in Financing for Multifamily Property in Hattiesburg, Mississippi

by Amy Works October 5, 2018

HATTIESBURG, MISS. — MLK Real Estate Capital has arranged $6.3 million in permanent financing on behalf of Keystone Equities LLC for the value-add acquisition of Villa Trace Apartments, the first acquisition for the New York-based investor. Located at 3 Courtland Drive in Hattiesburg, the 114-unit, garden-style property was built in 2003. Ryan Goldstein of MLK originated the deal, while MLK’s Ryan Carlson executed the financing transaction.

October 5, 2018

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