ALPHARETTA, GA. — Atlanta Property Group (APG) has acquired One Point Royal, a 150,000-square-foot office building located at 4400 N. Point Parkway in Alpharetta, roughly 27 miles north of downtown Atlanta. The Atlanta Business Chronicle reports Tfo Reva Oa Opr LLC sold the building for $18.5 million. Samir Idris of Cushman & Wakefield arranged the transaction on behalf of the seller. The two-story building was constructed in 1996 and was 92 percent leased at the time of sale to 12 tenants. One Point Royal features nine-foot ceilings, full height windows and a 4.5 per 1,000 square foot parking ratio. APG plans to invest more than $300,000 in common area renovations and $600,000 on systems upgrades.
CHARLESTON, S.C. — Madison Capital Group and Chaucer Creek Capital, along with their capital advisor Patterson Real Estate Advisory Group, have broken ground on Sweetgrass at Bees Ferry, a 192-unit apartment community in Charleston’s West Ashley submarket. Patterson arranged a construction loan through Dallas-based Bank of Texas on behalf of the developers. The property is located within a master-planned, mixed-use development and is across from a proposed Harris Teeter grocery store. The initial units are expected to deliver in summer 2019.
SANDY SPRINGS, GA. — Transwestern has secured a 60,402-square-foot lease for Newell Brands Inc. at Morgan Falls Office Park, a five-building office complex located at 7840 Roswell Road in Sandy Springs, roughly 15 miles north of downtown Atlanta. Newell Brands, a Hoboken, N.J.-based marketer of consumer and commercial brands including Yankee Candle, Rubbermaid and Sharpie, will occupy almost all of Building 100. The lease brings the recently renovated building to full occupancy. Jeff Taylor of Transwestern and Garrett Backman of REO Fund 2 LLC, the building owner, arranged the lease on behalf of the ownership. CBRE represented Newell Brands.
AUSTIN, TEXAS — Ridge, the industrial development arm of Transwestern Development Co., has completed construction of a 351,171-square-foot industrial building within Southpark Commerce Center in southeast Austin. The property, located just off Interstate 35 within 10 miles of downtown Austin and Austin International Airport, was developed on a speculative basis. Southpark Commerce Center will span more than 2.3 million square feet at full build-out.
DALLAS — Colliers International has brokered the sale of a 472,284-square-foot distribution center located at 2020 Singleton Road in west Dallas. The rail-served property offers convenient access to Interstates 30 and 35 and the Dallas North Tollway. Chris Teesdale and Tom Pearson of Colliers International represented the seller, an Ohio-based freight and logistics firm, in the transaction. Teesdale and Pearons also procured the buyer, 2020 Singleton Blvd. LLC.
IRVING, TEXAS — Eleven new food-and-drink-based concepts will open this month at Toyota Music Factory, an entertainment destination located within the Las Colinas district in Irving. New restaurants include Highway 61 South, a barbecue restaurant; Kabuki, a Japanese restaurant; and Texas Jam House, an eatery specializing in Southern cuisine. Night club Martini Ranch and frozen fruit bar Pop Factory by Maxfrut, among others, will also open stores within the destination, which will ultimately consist of 500,000 square feet of retail, restaurant and office space. An eight-screen Alamo Drafthouse Cinema will also open at Toyota Music Factory in April.
COPPELL, TEXAS — PickUp USA Fitness, a fitness chain dedicated to basketball, has opened a 16,936-square-foot gym at Sandy Lake Business Center in Coppell, a northwestern suburb of Dallas. The location was formerly leased to a Taekwondo studio. The gym will feature weights and cardio machines in addition to numerous courts for pick-up games. Private lessons and classes are also available. Allyson Yost and Cole Hooper of Colliers International represented Mosely Basketball, the franchise operator of the Coppell gym, in the lease negotiations. Erik Blaise of Bradford Commercial Real Estate Services represented the landlord. PickUp USA Fitness also operates franchises in Arizona, Florida and Nevada.
CRYSTAL CITY, MO. — McCarthy Building Cos. Inc. has completed a three-story, 120,000-square-foot patient building on the campus of Mercy Hospital Jefferson in Crystal City, 35 miles south of St. Louis. The new development features 90 private patient rooms. McCarthy also renovated the hospital’s main entrance as part of the $73 million project. New corridors help connect the emergency department, imaging, surgical services and admitting areas. Further interior renovations included the construction of a new emergency department waiting area, additional cardiology facilities and MRI suites. The new childbirth center on the third floor of the existing tower includes new labor and delivery suites, remodeled postpartum rooms and two dedicated surgical units. Bates Architects designed the new patient tower, and Heideman Associates served as MEP engineer.
HOUSTON — Lee & Associates has negotiated a 49,000-square-foot industrial lease at 4514 Brittmoore Road in northwest Houston. Preston Yaggi and Stephen Kuper of Lee & Associates represented the landlord, Chapman & Cole, in the lease negotiations. Travis Land and Nick Peterson of NAI Partners represented the tenant, BiSN Oil Tools LLC, a provider of sealing solutions for the oil and gas business.
TERRE HAUTE, IND. — SWG | Capital has acquired Wabash Valley Plaza in the western Indiana city of Terre Haute. The purchase price and seller were not disclosed. Kroger, Hobby Lobby and Big Lots anchor the 194,081-square-foot shopping center, which is located at 4650-4700 S. U.S. Highway 41. Terre Haute is home to Indiana State University.