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.
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.
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.
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.
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.
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.
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.
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.
LAS VEGAS — California-based Westland Real Estate Group has purchased a two-property multifamily portfolio in Las Vegas for $60.3 million. Totaling 1,129 units, the portfolio includes Liberty Village Apartments at 4870 Nellis Oasis Lane and Village Square at 5025 Nellis Oasis Lane. Both communities offer one-, two- and three-bedroom floor plans with updated kitchens, air conditioning, Roman bathtubs and private balconies and patios. Community amenities include dog parks, mature landscaping, covered parking, tennis courts and swimming pools. Robin Willett and Devin Lee of Northcap Commercial represented the buyer, while Spence Ballif of CBRE represented the sellers, Shamrock Properties VI LLC and Shamrock Properties VII LLC in the transaction.
SEATTLE — KeyBank Real Estate Capital has secured a $60 million first-mortgage loan for SoDo Portfolio, an group of industrial properties in Seattle. The name of the borrower was not released. Encompassing 12.7 acres, the portfolio totals 11 buildings offering mixed-use industrial space. Josh Berde of Key’s Commercial Mortgage Group arranged the non-recourse, fixed-rate financing, which features a five-year term. A life company provided the funds.
