Property Type

Lonestar to Acquire Five Oil, Gas Properties in Texas for $116.6M

by Taylor Williams May 30, 2017

FORT WORTH, TEXAS — Fort Worth-based oil and gas firm Lonestar Resources US Inc. has entered into agreements with unaffiliated sellers to acquire five oil and gas properties within the Eagle Ford Shale play, an oil and gas formation in South Texas with more than $30 billion in capital investment. The properties are located in Karnes, Gonzales, DeWitt, Lavaca and Fayette counties. Upon closing, which is slated for late June, the company will acquire 80.3 net producing oil and gas wells and a leasehold totaling 21,238 net acres for approximately $116.6 million.

May 30, 2017

McCarthy Completes New 800,000 SF Building on Southwest Airlines’ Campus in Dallas

by Taylor Williams May 30, 2017

DALLAS — McCarthy Building Cos. Inc. has completed a new office building and aircrew training facility within Southwest Airlines’ corporate campus in Dallas. The entire project, which began in May 2016, consists of a six-story, 425,000-square-foot office building and an attached 375,000-square-foot training center that will house 18 flight simulators. The project will also deliver a 1,950-space parking garage upon full completion during the first quarter of 2018.

May 30, 2017

Mixed-Use Retail Texas

Vista Breaks Ground on Final Phase of Development at Retail Center in Katy

by Taylor Williams May 30, 2017

KATY, TEXAS— Vista Equities Group has broken ground on the final phase of development of LaCenterra at Cinco Ranch, a 34-acre, mixed-use development in Katy. Expected to be complete in early 2018, the final phase will add a 37,000-square-foot Alamo Drafthouse Cinema, a five-story parking garage and an additional 7,500 square feet of retail space to the 360,000-square-foot development.

May 30, 2017

Multifamily Texas

PCA Sells Class A Apartment Community in Lewisville for $44M

by Taylor Williams May 30, 2017

LEWISVILLE, TEXAS — Preferred Apartment Communities Inc., a publicly traded, Maryland-based multifamily operator, has sold Enclave at Vista Ridge, a Class A multifamily community in metro Dallas for approximately $44 million. Located at 2701 MacArthur Blvd. in Lewisville, the property was built in 2003 and features amenities such as a resort-style pool, fitness centers, game room and a resident clubhouse with a lounge and theater. Steadfast Apartment REIT III Inc., an affiliate of California-based investment firm Steadfast Cos., purchased the property and will rebrand it The Pointe at Vista Ridge.

May 30, 2017

Multifamily Student Housing Texas

FourPoint Brokers Sale of Two Student Housing Communities Totaling 1,136 Beds in San Antonio

by Taylor Williams May 30, 2017

SAN ANTONIO — FourPoint Student Housing Investments has brokered the sale of Avalon Place and Hill Country Place, two student housing properties totaling 1,136 beds in San Antonio. Both Class B properties are located approximately one mile from the University of Texas at San Antonio. Chris Epp, Chris Bancroft and Meredith Wolff of FourPoint represented the seller, Blue Vista, in the transaction. The name of the buyer and other terms of sale were not disclosed.

May 30, 2017

North Carolina Office Southeast

Parmer Innovation Centers Purchases 1.8 MSF GSK Office Campus in Raleigh, Plans $80M Renovation

by John Nelson May 30, 2017

RALEIGH, N.C. — Los Angeles-based Parmer Innovation Centers has closed on its purchase of the 1.8 million-square-foot GSK campus within Raleigh’s Research Triangle Park. GSK, a research-based pharmaceutical and healthcare firm, sold the 20-building office and laboratory campus in a sale-leaseback transaction, whereby GSK will lease back 700,000 square feet of space on a long-term basis (up to 10 years plus renewal options). Much like Parmer’s successful Parmer Austin campus that houses Apple, Allergan, Blue Apron and GM, Parmer Innovation has rebranded the GSK campus as Parmer RTP and plans to implement an $80 million renovation focusing on amenities to attract millennial workers. Ben Kilgore, Lee Clyburn and Brian Carr of CBRE | Raleigh, along with Brian Scott of CBRE’s New York office, represented GSK in the transaction.

May 30, 2017

Georgia Office Southeast

Five Mile, Equitable Real Estate Sell Office Tower in Downtown Atlanta

by John Nelson May 30, 2017

ATLANTA — Five Mile Capital Partners and Equitable Real Estate Partners have sold 100 Peachtree, a 33-story, 622,084-square-foot office tower in downtown Atlanta. Zeller Realty Group purchased the asset, which was 82 percent leased at the time of sale to tenants such as CallRail, Accenture, Koch Industries, Georgia’s Own Credit Union, McGuireWoods law firm and the Atlanta BeltLine. The sales price was undisclosed, but the Atlanta Business Chronicle reports that Zeller likely paid between $135 to $145 per square foot, or $83 million to $90 million. The previous ownership’s renovations to 100 Peachtree over the last five years included complete window replacement with LEED compliance, a restored lobby, re-energized plaza area, tenant buildouts and major mechanical replacements. Will Yowell, Jay O’Meara and Justin Parsonnet of CBRE represented the sellers in the transaction. Bill Rogalla and Mark Vollbrecht represented Zeller internally.

May 30, 2017

Multifamily North Carolina Southeast

ARA Newmark Brokers $69.3M Sale of Adaptive Reuse Apartment Community in Downtown Durham

by John Nelson May 30, 2017

DURHAM, N.C. — ARA Newmark has arranged the $69.3 million sale of Liberty Warehouse, a former tobacco warehouse in downtown Durham that has been converted into a 247-unit apartment community. Chapel Hill, N.C.-based East West Partners delivered the asset this year before selling to New York-based Duck Pond Realty, a private, family-owned investment firm. Sean Wood of ARA Newmark represented East West Partners in the transaction. Liberty Warehouse commands some of the highest rental rates in downtown Durham and features a resort-style pool, yoga room, private terrace, bike share program and 24,000 square feet of retail space.

May 30, 2017

Florida Hospitality Southeast

Concord Hospitality Breaks Ground on Hyatt Place Jacksonville

by John Nelson May 30, 2017

JACKSONVILLE, FLA. — Concord Hospitality has begun construction on Hyatt Place Jacksonville, a 160-room hotel situated across from St. Johns Town Center in Jacksonville. The five-story hotel will anchor The Strand at St. Johns Town Center, a new 45-acre mixed-use development with retail, restaurants and multifamily residences. Scheduled to open in late 2018, the hotel will feature 3,000 square feet of flexible meeting space, an outdoor pool, fitness center and an outdoor deck for events. Concord Hospitality operates two other Hyatt-branded hotels in Florida: Hyatt Place Miami Airport and Hyatt Centric South Beach Miami. Concord also plans to open Hyatt Centric Brickell Miami later this year.

May 30, 2017

Industrial South Carolina Southeast

NAI Avant Arranges 50,000 SF Industrial Lease in Charleston

by John Nelson May 30, 2017

CHARLESTON, S.C. — NAI Avant has arranged a full-building, 50,000-square-foot industrial lease at 2509 Clements Ferry Road in Charleston. The tenant, Winston-Salem-based plumbing company Murray Supply Co., will use the facility as its Lowcountry distribution center. The property is Murray Supply’s first facility in Charleston. Thomas Boulware of NAI Avant represented Murray Supply in the lease deal. David Seay of Seay Development LLC represented the landlord, Yeros Investments LLC.

May 30, 2017

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