Property Type

Transwestern, S2 Capital Acquire 464-Unit Apartment Community in Metro Fort Worth

by Taylor Williams March 27, 2018

BEDFORD, TEXAS — A partnership between Transwestern Investment Group and S2 Capital LLC has acquired Oak Creek Apartments, a 464-unit multifamily community in Bedford, a northeastern suburb of Fort Worth. The Class B property was acquired on behalf of one of the funds managed by the partnership. The community consists of 61 buildings and was 92 percent occupied at the time of sale. Taylor Snoddy, Philip Wiegand and James Roberts of Transwestern represented the undisclosed seller in the transaction.

March 27, 2018

Acquisitions Industrial Office Texas

Hartman REIT Acquires 96,660 SF Flex Property in Metro Dallas

by Taylor Williams March 27, 2018

RICHARDSON, TEXAS — A subsidiary of Hartman Income REIT Management Inc. has acquired Richardson Tech Center, a 96,660-square-foot flex property in Richardson, a northeastern suburb of Dallas. The multi-tenant property consists of four buildings. Zane Marcell and Dustin Volz of JLL represented the undisclosed seller in the transaction. David Wheeler and Russell Turman represented Hartman internally. HFF arranged acquisition financing for the deal through Southside Bank.

March 27, 2018

Industrial Leasing Activity Texas

HSM Secures 39,646 SF Industrial Lease for Roofing Supplier in Dallas

by Taylor Williams March 27, 2018

DALLAS — Dallas-based brokerage firm Henry S. Miller (HSM) has secured a 39,646-square-foot industrial lease in Dallas for ABC Supply Co. Inc., a wholesale distributor of roofing and siding products. Dan Spika of HSM represented ABC Supply in the lease negotiations for the warehouse space at 4884 Duncanville Road. Matt Elliott of NAI Robert Lynn represented the landlord, Texas Industrial Development LLC. The property features 1,380 square feet of office space, seven dock-high doors and access to Interstate 20 and U.S. Highway 67.

March 27, 2018

Leasing Activity Office Texas

Colliers Negotiates 21,816 SF Office Lease Expansion in Metro Dallas

by Taylor Williams March 27, 2018

GRAPEVINE, TEXAS — Colliers International has negotiated a 21,816-square-foot office lease expansion at 2200 W. Airfield Drive in the Dallas metro of Grapevine on behalf of software firm DexYP. The company now occupies 449,040 square feet at the property, which was built in 1979 and features a fitness center, café and auditorium. Bob Acuff and Tom Sutherland of Colliers represented DexYP in the lease negotiations. D.J. Decker of CBRE represented the landlord, Verizon Realty Corp.

March 27, 2018

Florida Georgia Industrial Loans Mississippi Southeast

Cushman & Wakefield Secures $108.6M Refinancing for 2.2 MSF Industrial Portfolio Across U.S.

by Camren Skelton March 27, 2018

ATLANTA — The Atlanta office of Cushman & Wakefield has secured the $108.6 million refinancing of a 2.2 million-square-foot, eight-property industrial portfolio located across the United States. Mike Ryan, Brian Linnihan and Richard Henry of Cushman & Wakefield arranged the floating-rate loan on behalf of the borrower, Industrial Properties America III LLC, a joint venture between IDI Logistics and institutional investors advised by J.P. Morgan Asset Management. The portfolio includes 2124 Skyview Drive in Lithia Springs, Ga.; 11600 Miramar Parkway in Miramar, Fla.; 2501 S.W. 160th Ave. in Miramar; and 8425 Airways Blvd. in Southhaven, Miss. The other properties are located in Illinois, Ohio, Texas and California. At the time of sale, the portfolio was fully leased to 23 tenants.

March 27, 2018

Development Georgia Industrial Southeast

LPC Southeast Breaks Ground on 243,540 SF Spec Industrial Building in Atlanta

by Camren Skelton March 27, 2018

ATLANTA — Lincoln Property Co. Southeast (LPC Southeast) has broken ground on Union 85 Distribution Center, a 243,540-square-foot speculative warehouse/distribution center in Atlanta. The facility will be located at 3725 Royal South Parkway, less than a half-mile from Interstate 85 within Atlanta’s I-85 South industrial submarket. The building will feature 32-foot clear heights, 38 dock-high doors, two drive-in doors, front-load configuration and 40 existing spaces for excess trailer storage. LPC Southeast will handle the project’s leasing assignment upon completion, which is scheduled for later this year. The company delivered Flat Shoals 85 Distribution Center at the end of 2017. The building is fully leased to Future Forwarding Co.

March 27, 2018

Leasing Activity Maryland Office Southeast

Rock Creek Signs Pharmaceutical Company to 119,000 SF Lease for Suburban Maryland Headquarters

by Camren Skelton March 27, 2018

GAITHERSBURG, MD. — Rock Creek Property Group has leased the entire building at 700 Quince Orchard Road in Gaithersburg to Supernus Pharmaceuticals. The company, which specializes in therapies for central nervous system diseases, will utilize the 119,000 square feet for its new company headquarters. Rock Creek Property Group and Woodside Ventures acquired the building in 2015, and will convert the space into Class A lab and office space with a first floor indoor parking structure. The owners expect to complete the renovation in mid-2019. The building is part of a 13-acre parcel of land that will eventually include roughly 150 townhomes. Supernus Pharmaceuticals will relocate from its current location at 1550 E. Gude Drive in Rockville, Md. Edge Commercial represented Rock Creek Property Group in the lease negotiations, and Scheer Partners represented Supernus.

March 27, 2018

Acquisitions Florida Multifamily Southeast

Michaelson Acquires Apartment Community in Tampa for $20.7M

by Camren Skelton March 27, 2018

TAMPA, FLA. — Michaelson Real Estate Group LLC has acquired St. Moritz Apartments, a 168-unit multifamily community in Tampa, for $20.7 million. The name of the seller was not disclosed. The property is located at 13835 Heritage Club Drive, less than two miles from the University of South Florida. St. Moritz Apartments offers two-bedroom/two-bath townhomes and features a swimming pool, lakefront picnic and barbecue areas, fitness center and a clubhouse. The community was built in 1984 and has undergone renovations over the last two years.

March 27, 2018

Acquisitions Florida Retail Southeast

TREIS Arranges $5.2M Sale of Retail Center in Tampa

by Camren Skelton March 27, 2018

TAMPA, FLA. — Tiktin Real Estate Investment Services (TREIS) has arranged the $5.2 million sale of Madison Square, a 38,720-square-foot shopping center located at 5513-55119 S. 78th St. in Tampa. Adam Tiktin of TREIS arranged the transaction on behalf of both the seller, Madison Square Group LLC, and the buyer, ATS Residential LLC. Family Dollar anchors the property, which was constructed in 2007 and was fully leased at the time of sale. The site also includes a one-acre outparcel for a future restaurant or retail building.

March 27, 2018

Acquisitions California Industrial Western

Black Creek Group Acquires Three-Building Industrial Portfolio in Colton, California

by Amy Works March 27, 2018

COLTON, CALIF. — Black Creek Group has purchased a three-building industrial portfolio totaling 743,381 square feet in Colton for an undisclosed price. The portfolio includes a 121,196-square-foot property located at 2036 Miguel Bustamante Parkway, a 174,995-square-foot building located at 2053 Miguel Bustamante Parkway and a 447,190-square-foot property located at 2163 S. Riverside Ave. The adjacent properties feature dock-high loading, ESFR sprinkler systems, minimum clear heights ranging from 32 feet to 36 feet, and state-of-the-art office space. Ken Anderson and Rick John of DAUM Commercial Real Estate Services, along with Barbara Emmons Perrier and Darla Longo of CBRE, represented the buyer and seller in the deal. The seller was an undisclosed REIT.

March 27, 2018

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