Property Type

Meridian Design Build Completes 248,370 SF Distribution Center in Montgomery, New York

by Amy Works August 17, 2017

MONTGOMERY, N.Y. — Meridian Design Build has completed the construction of a package sortation and distribution center located at 201 Neelytown Road in Montgomery for developer SunCap Property Group. Situated on 44.1 acres, the 248,370-square-foot facility was built for a leading provider of global shipping and information services. The facility features 63 loading docks, seven drive-in doors, 184 interior van loading positions, 451 auto parking stalls and 190 exterior trailer stalls. Cornerstone Architects provided architectural services, while Langan provided civil engineering work for the property.

August 17, 2017

New York Northeast Retail

Kamber Management Co. to Acquire Parking Garage Portfolio in Manhattan for $50M

by Amy Works August 17, 2017

NEW YORK CITY — Kamber Management Co. has entered into a contract to acquire the Riverside Garage portfolio of parking facilities on Manhattan’s Upper West Side for an $50 million. The 916-parking stall portfolio consists of three parking garages located at the base of five residential towers located at 80, 100-120 and 220-240 Riverside Blvd. The properties are fully leased to Icon Parking Systems, a garage operator in New York City. David Schechtman of Meridian Capital Group represented the undisclosed seller, while Steven Levy of Kamber Management represented the buyer in the deal.

August 17, 2017

Massachusetts Northeast Retail

Atlantic Management Sells Retail Center in Acton, Massachusetts, for $16.3M

by Amy Works August 17, 2017

ACTON, MASS. — Atlantic Management has completed the disposition of Powder Mill Plaza, a retail property located in Acton. Medipower acquired the shopping center for $16.3 million. Stop & Shop, Rite Aid, Anytime Fitness, DCU, Papa Gino’s and Dunkin’ Donuts, among other national retailers, occupy the 74,876-square-foot property. Geoffrey Millerd, Justin Smith, Paul Penman and Christopher Peterson of Newmark Knight Frank represented the seller in the deal.

August 17, 2017

Multifamily Seniors Housing Texas

Drever Capital Management to Develop 213-Unit Seniors Housing Community in San Antonio

by Taylor Williams August 17, 2017

SAN ANTONIO — Drever Capital Management, a Calif.-based holding company, will develop Larkspur at Live Oak, a 213-unit senior living community situated on 15 acres near Interstate 35 and Loop 1604 in San Antonio. Designed by Dallas-based Merriman Anderson/Architects Inc., the four-story property will offer units ranging in size from 691 to 1,221 square feet and an outdoor recreation space with a pool, kitchen and cabanas. A 64-unit memory care community is also being planned as a separate facility within the development. Construction is scheduled to begin later this year and wrap up in early 2019.

August 17, 2017

Hospitality Texas

HFF Arranges Sale of 305-Room, Dual-Branded Hotel in Austin

by Taylor Williams August 17, 2017

AUSTIN, TEXAS — HFF has arranged the sale of a two dual-branded hotel property located at 805 Neches St. and 810 Red River St. in Austin. The asset consists of the 134-room Hotel Indigo Austin Downtown and the 171-room Holiday Inn Express Austin Downtown University. Completed in 2016, the hotels share amenities such as an outdoor pool, bar and lounge and five levels of underground parking. John Bourret and Austin Brooks of HFF represented the seller, Journeyman Group, in the transaction. Nimes Real Estate purchased the property for an undisclosed price.

August 17, 2017

Retail Texas

Baseball Bat Producer to Open Manufacturing Facility, Headquarters in Dallas

by Taylor Williams August 17, 2017

DALLAS — Warstic, a producer of baseball equipment partially owned by musician Jack White, will open its flagship location, manufacturing facility and headquarters at 2900 Main St. in the Deep Ellum area of Dallas. The property will include a warehouse, bat-fitting room, bat design studio, bar and restaurant and a full batting cage. The opening is scheduled for early 2018.

August 17, 2017

Industrial Texas

Lee & Associates Negotiates Sale of 56,841 SF Industrial Asset in Arlington

by Taylor Williams August 17, 2017

ARLINGTON, TEXAS — Lee & Associates has negotiated the sale of a 56,841-square-foot industrial property located at 1721 Susan Drive in Arlington. Mark Graybill and Colton Rhodes of Lee & Associates represented the seller, Package Express, in the transaction. Sean O’Grady of Caliber Property Group represented the buyer, CDI-RE Arlington.

August 17, 2017

Retail Texas

Marcus & Millichap Brokers Sale of 32,390 SF Retail Center in Houston

by Taylor Williams August 17, 2017

HOUSTON — Marcus & Millichap has brokered the sale of Shotwell Shopping Center, a 32,390-square-foot retail center located at 5900 Lyons Ave. in Houston. Derek Hargrove, Justin Miller and Davis Hansen of Marcus & Millichap represented the seller, a Houston-based partnership, in the transaction. Gus Lagos and Nik Kapetanakis, also of Marcus & Millichap, procured the undisclosed buyer.

August 17, 2017

Georgia Office Southeast

OliverMcMillan to Develop 330,000 SF Office Tower in Atlanta’s Buckhead District

by Camren Skelton August 17, 2017

ATLANTA — San Diego-based OliverMcMillan has unveiled plans to build The Office Buckhead Atlanta, a 17-story, 330,000-square-foot office tower located at 300 E. Paces Ferry Road in Atlanta’s Buckhead district. Designed by San Francisco-based architect Gensler, the Class A building will feature 30,000 square feet of ground-level retail and restaurants. The office tower will be situated adjacent to The Shops Buckhead Atlanta, which OliverMcMillan developed in 2014. Construction will begin with the demolition of the former HiFi Buys building at Peachtree Street and Boiling Way, with completion slated for early 2020. Deming Fish and Scott O’Halloran of Colliers International will handle the building’s leasing assignment.

August 17, 2017

Georgia Industrial Southeast

Safavieh to Invest $60M for 1.1 MSF Fulfillment Center in Savannah

by Camren Skelton August 17, 2017

SAVANNAH, GA. — Safavieh, a New-York based manufacturer and distributor of international home furnishings, will invest $60 million to develop a 1.1 million-square-foot fulfillment center at the Savannah River International Trade Park in Savannah. Bob Robers of Cushman & Wakefield represented Safavieh in the acquisition and development of the site, and Bradley Migdal and Carol Henderson of Cushman & Wakefield secured financing for the project. Safavieh currently operates more than 500,000 square feet of warehouse space in Savannah. The new facility will triple the company’s presence in the area and is expected to create 200 jobs upon completion in late 2018.

August 17, 2017

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