Property Type

StreetLights Residential Breaks Ground on 373-Unit Apartment Community in Austin

by Taylor Williams May 2, 2018

AUSTIN, TEXAS — StreetLights Residential has broken ground on The Elizabeth at Presidio, a 373-unit multifamily community in northwest Austin. The community will feature one-, two- and three-bedroom units ranging in size from 504 to 1,938 square feet. Amenities will include a pool, covered grilling stations, fitness center, pet park, a cocktail and coffee bar and co-working and conference spaces. The first units are expected to be available for occupancy in 2019. SLR Construction LLC is serving as general contractor on the project and Looney Ricks Kiss is handling the design, minus landscaping and unit interiors. The Elizabeth at Presidio will be StreetLights Residential’s second community in northwest Austin following The Michael at Presidio, a 415-unit property that opened in September 2016.

May 2, 2018

Development Healthcare Texas

Brasfield & Gorrie Completes $125M Women’s Hospital in Dallas

by Taylor Williams May 2, 2018

DALLAS — Alabama-based general contractor Brasfield & Gorrie has completed Medical City Women’s Hospital Dallas, a $125 million healthcare project that was developed within the 801-bed Medical City Dallas Hospital. The project added five floors and 222 private rooms to Care Tower D at the complex. Other project features include 24 labor and delivery rooms, 84 neonatal intensive care units, 12 VIP suites and 16 medical/surgical rooms. National architecture firm Perkins + Will designed the property.

May 2, 2018

Development Healthcare Texas

MD Anderson Nears Completion of $97M Center in Metro Houston

by Taylor Williams May 2, 2018

LEAGUE CITY, TEXAS — MD Anderson is nearing completion of its $97 million clinical cancer center at the University of Texas Medical Branch (UTMB) League City campus in the greater Houston area. Completion is slated for September. Construction of a 740-space parking garage on the campus, a project valued at roughly $30 million, is also nearing completion. UTMB has also announced plans to add a five-story wing to the main hospital.

May 2, 2018

Acquisitions Industrial Retail Texas

Matthews Commercial Arranges Sale of Retail, Industrial Assets in Dallas Area

by Taylor Williams May 2, 2018

ARLINGTON AND FARMERS BRANCH, TEXAS — Matthews Commercial Group, a Dallas-based brokerage firm, has arranged the sale of two commercial properties in the Dallas area. Eliud Sangabriel of Matthews represented the seller in the disposition of a 12,000-square-foot retail center in Arlington, which was built in 2006, and a 15,000-square-foot industrial building in Farmers Branch. Jeremy Mercer of Mercer Cos. represented the buyer of the industrial property. Other terms of sale were not disclosed

May 2, 2018

Development Maryland Office Southeast

Howard Hughes Breaks Ground on 350,000 SF Office Building in Columbia, Maryland

by Camren Skelton May 2, 2018

COLUMBIA, MD. — The Howard Hughes Corp. has broken ground on a 350,000-square-foot office building within Merriweather District, a new mixed-use neighborhood in downtown Columbia. Tenable Inc. will anchor the new building, occupying approximately 150,000 square feet on floors seven through 12. The cyber security company will make the move from its current Columbia Gateway location to the new building at 6100 Merriweather Drive in late 2019. The new building will join One and Two Merriweather, two existing mixed-use office buildings within the development. At full build-out, Merriweather District will include 2,300 residences, a 250-room hotel, more than 1.5 million square feet of office space, 314,000 square feet of street-level retail and a central park. The Merriweather District will be powered by STEER technology, the first fully autonomous parking solution that transforms everyday cars into driverless vehicles that park themselves. The technology will make the district the first city in the country to be built for automated self-parking cars, according to the Howard Hughes Corp. In addition, Merriweather District will be LEED v4-certified — the highest level of LEED certification— making it the first development in Maryland to achieve this designation, and the fifth in the United States. Merriweather District …

May 2, 2018

Loans Retail Southeast Tennessee

CBL, JV Partners Receive $155M CMBS Loan to Refinance CoolSprings Galleria Mall in Metro Nashville

by Camren Skelton May 2, 2018

FRANKLIN, TENN. — CBL Properties, along with its 50/50 joint venture partners TIAA and APG, has received a $155 million, non-recourse loan for CoolSprings Galleria, a 1.1 million-square-foot mall in Franklin, roughly 20 miles south of Nashville. Wells Fargo Bank NA provided the 10-year, CMBS loan with a fixed 4.8 percent interest rate. Proceeds of the loan were used to retire an existing $97.7 million loan, which was scheduled to mature in June. CBL’s share of $29 million in excess proceeds will be used to reduce outstanding balances on its unsecured lines of credit. The Chattanooga-based company owns and manages a portfolio of 117 retail properties totaling 73.4 million square feet, located across 26 states.

May 2, 2018

Development Florida Industrial Southeast

McCraney Acquires 43.9 Acres Near Orlando for 652,696 SF Industrial Development

by Camren Skelton May 2, 2018

OCOEE, FLA. — McCraney Property Co. has acquired 43.9 acres in Ocoee, roughly 12 miles west of Orlando, with plans to develop a 652,696-square-foot industrial park. Dubbed Distribution 429, the development will include three buildings: Building 100, totaling 104,950 square feet; Building 200, totaling 145,164 square feet; and Building 300, totaling 402,582 square feet. William “Bo” Bradford of Lee & Associates represented the undisclosed seller in the land sale. McCraney expects to break ground on the development later this month. The buildings will target end-users requiring freight forwarding, third-party logistics and fulfillment needs.

May 2, 2018

Acquisitions Alabama Retail Southeast

Matthews Arranges $13.8M Sale of Shopping Center in Huntsville

by Camren Skelton May 2, 2018

HUNTSVILLE, ALA. — Matthews Real Estate Investment Services has arranged the $13.8 million sale of The Gallery Shopping Center, a 101,498-square-foot retail center located near the $350 million Mid-City mall redevelopment in Huntsville. A Florida-based private family office acquired the asset from Plaza Properties via a 1031 exchange. Jordan Powell and Scott Henard of Matthews arranged the transaction on behalf of both parties. The Gallery Shopping Center was 95 percent leased at the time of sale.

May 2, 2018

Acquisitions Georgia Retail Southeast

HFF Brokers Sale of 103,711 SF Kroger-Anchored Center in Metro Atlanta

by Camren Skelton May 2, 2018

ACWORTH, GA. — HFF has brokered the sale of Cherokee Commons, a 103,711-square-foot shopping center in Acworth, roughly 30 miles northwest of Atlanta. Jim Hamilton, Brad Buchanan, Michael Allison and Ryan Stoffer of HFF arranged the transaction on behalf of the seller, PMAT Cos. Collett Capital acquired the asset for an undisclosed price. Kroger anchors Cherokee Commons, which was 89 percent leased at the time of sale.

May 2, 2018

Development Michigan Midwest Mixed-Use

Olympia Development Unveils Six Projects in The District Detroit

by Kristin Harlow May 2, 2018

DETROIT — Olympia Development has unveiled six projects in The District Detroit, including the restoration of three vacant historic buildings and the construction of three new mixed-use buildings near Little Caesars Arena. These projects will launch Phase II of development in The District Detroit, a $1.4 billion project surrounding the arena. This investment of nearly $200 million will bring more office tenants, storefronts and density to the area, according to Olympia. The projects will encompass more than 400,000 square feet of office space and nearly 70,000 square feet of street-level retail space. Historic renovation projects include 2210 Park Ave.; 1922 Cass Ave.; and 2110 Park Ave. New construction projects include 2715 Woodward Ave.; 111 Henry St.; and 120 Henry St.

May 2, 2018

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