Property Type

JPI Breaks Ground on 371-Unit Apartment Community in Metro Dallas

by John Nelson January 9, 2018

GRAPEVINE, TEXAS — JPI has begun construction on Jefferson Silverlake, a 371-unit apartment community located at State Highway 26 and Bass Pro Drive in Grapevine. Units will feature 10-foot ceilings, modern cabinetry and full-sized washers and dryers in all units. Community amenities will include a resort-style pool, Wi-Fi in common areas, concierge services and a fitness center with a yoga studio. Jefferson Silverlake will be situated near the future U.S. headquarters for Kubota Tractor and future TEX Rail Grapevine Main Street station.

January 9, 2018

Trammell Crow, MetLife Sign Law Firm to 56,000 SF Lease at Park District in Dallas

by John Nelson January 9, 2018

DALLAS — Trammell Crow Co. and joint venture partner MetLife have signed international law firm Winston & Strawn LLP to a 56,000-square-foot lease at Park District in Uptown Dallas. Situated adjacent to Klyde Warren Park, Park District is a 916,000-square-foot mixed-use project that features a 20-story office tower and 34-story residential tower, both of which include ground-floor retail space. PwC is the anchor tenant of the office tower, dubbed PwC Tower at Park District. Upon completion the building will feature four levels of below-grade parking, an executive lounge, fitness facility, collaborative workspaces, on-site restaurants, outdoor amenity spaces and on-site banking and valet. HKS is the project architect and the development team is seeking LEED Gold-certification for the office tower. Dennis Barnes, Clay Gilbert and Shannon Brown with CBRE’s Dallas office represented Trammell Crow and MetLife in the lease transaction. Phil Puckett, Harlan Davis and Neal Puckett, also with CBRE’s Dallas office, and Nancy Pacher of CBRE’s Chicago office, represented Winston & Strawn, which will occupy floors eight and nine of the 500,000-square-foot tower in the second quarter.

January 9, 2018

Healthcare Mixed-Use Texas

Archway to Develop 111-Acre Mixed-Use Project in Metro Houston

by John Nelson January 9, 2018

HUMBLE, TEXAS — Archway Properties plans to develop Park Air 59, a 111-acre mixed-use project located along U.S. Highway 59 in Humble, roughly 20 miles northeast of Houston near George Bush International Airport. The project’s first build-to-suit is currently under construction on a 4.2-acre tract at the junction of U.S. Highway 59 and Will Clayton Parkway. Archway is developing a 65,000-square-foot, three-story medical office building for Vital Heart & Vein, a cardiology practice based in Houston. The clinic is set to open this summer. Austin Alvis of Houston-based NewQuest Properties and Preston Cunningham of Cunningham Ventures are marketing Park Air 59 and co-brokered the land sale to the cardiology group. Jeries Ganim of Commercial Regional Properties of Texas LLC represented the cardiology group in its site acquisition. Houston-based Archway has assembled the acreage over the last several years for Park Air 59, which upon completion will include medical, retail, restaurants, industrial and additional service-based tenants.

January 9, 2018

Industrial Texas

Bob Moore Construction Delivers 350,000 SF Distribution Center in Metro Dallas

by John Nelson January 9, 2018

WILMER, TEXAS — Bob Moore Construction has completed Interpoint Distribution Center, a 350,000-square-foot industrial facility located at 3800 N. Interstate 45 in Wilmer, roughly 15 miles southwest of Dallas. The developer, Houston-based Skyhawk Partners, purchased the site along with J.A. Billip Co. Other members of the project team include leasing agent Colliers International and architect Alliance Architects. The facility is situated near the Union Pacific Intermodal and near facilities leased to FedEx, Procter & Gamble, Amazon and Shippers Warehouse.

January 9, 2018

Retail Texas

Marcus & Millichap Brokers Sale of 26,500 SF Retail Center Near Fort Worth

by John Nelson January 9, 2018

CROWLEY, TEXAS — Marcus & Millichap has brokered the sale of Deer Creek Plaza, a 26,500-square-foot retail center located at 740 S. Crowley Road in Crowley, about 15 miles south of Fort Worth. Built in 2007, the shopping center was fully leased at the time of sale to tenants such as iFit Elite, Nails Plus, Diet Solutions, Bethel Management, iFit Elite Tanning, eRepair and Inspire Salon. Philip Levy and Matthew Bean of Marcus & Millichap represented the seller, a limited liability company, in the transaction. Douglas Cole of Marcus & Millichap’s West Los Angeles office secured the buyer, also a limited liability company.

January 9, 2018

Georgia Office Southeast

Trammell Crow, Partner to Deliver 16-Story Office Tower in Atlanta’s Central Perimeter District

by Camren Skelton January 9, 2018

ATLANTA — Trammell Crow Co. (TCC) and a joint venture partner advised by CBRE Global Investors have unveiled plans for Twelve24, a 16-story, transit-oriented office tower in Atlanta’s Central Perimeter submarket. The building will be directly connected to the Dunwoody MARTA station, and will include 334,000 square feet of office space and 11,000 square feet of ground-floor retail and restaurant space. Insight Global, an Atlanta-based national staffing services firm, has preleased 175,000 square feet at the building, which is expected to break ground in the summer and open in early 2020. Jodi Selvey and Emily Richardson of Colliers International arranged the lease transaction on behalf of Insight Global, and Eric Ross of CBRE represented the joint venture. Twelve24 will feature large, open floor plates with floor-to-ceiling glass, outdoor terraces, a lounge, conference center, fitness center and on-site restaurants. The development team, which includes design architect Duda Paine Architects and architect of record Wakefield Beasley & Associates, is seeking LEED Gold-certification. In addition, TCC is working with Concord Hospitality Enterprises to develop a 10-story, 180-room hotel directly connected to the new office tower.

January 9, 2018

Alabama Mixed-Use Retail Southeast

Topgolf Opens at $350M Mixed-Use Redevelopment in Huntsville

by Camren Skelton January 9, 2018

HUNTSVILLE, ALA. — Topgolf has opened at MidCity, a $350 million mixed-use redevelopment under construction at the intersection of University Drive and Research Park Boulevard in Huntsville. The global sports entertainment company is the first tenant to open at the 140-acre project — a redevelopment of the former Madison Square Mall. Alabama-based RCP Cos. is developing the project. The 53,000-square-foot, three-level Topgolf facility features 72 climate-controlled hitting bays that can host up to six players at a time, in addition to private event space. The project is also home to The Camp at MidCity, an outdoor entertainment venue that debuted its annual, three-day music festival in summer 2017. In addition, plans for MidCity include 345,000 square feet of ground-floor retail space and restaurants, 200,000 square feet of technical and creative office space, 500 hotel rooms and 900 multifamily units.

January 9, 2018

North Carolina Retail Southeast

GBT Realty Acquires Shopping Center in Asheville from Kimco for $25.5M

by Camren Skelton January 9, 2018

ASHEVILLE, N.C. — GBT Realty Corp. has acquired Overlook Village, a 153,820-square-foot shopping center in Asheville, for $25.5 million. Berkeley Capital Advisors arranged the transaction on behalf of the seller, Kimco Realty. Constructed in 1989, Overlook Village was 80 percent leased at the time of sale to tenants including HomeGoods, T.J. Maxx and Ross Dress for Less. The property also houses a vacant anchor space that was formerly leased to hhgregg. The new owner plans to announce redevelopment plans for the property in the spring.

January 9, 2018

Loans Multifamily South Carolina Southeast

NorthMarq Secures $15.9M Acquisition Loan for Apartment Community in South Carolina

by Camren Skelton January 9, 2018

SUMTER, S.C. — NorthMarq Capital has arranged a $15.9 million acquisition loan for Piedmont Plantation, a 252-unit apartment community in Sumter, roughly 45 miles east of Columbia. Bill Matone of NorthMarq Capital arranged the 10-year, Freddie Mac loan with a 30-year amortization schedule. Other terms of the deal were not disclosed. Piedmont Plantation offers one- to three-bedroom floor plans and features a clubhouse, playground, swimming pool with sundeck, car care center, 24-hour fitness center, dog park and grilling stations.

January 9, 2018

Loans Multifamily North Carolina Southeast

Trillium Capital Arranges $9.4M Refinancing for Multifamily Community in Greensboro, North Carolina

by Camren Skelton January 9, 2018

GREENSBORO, N.C. — Trillium Capital Resources (TCR) has arranged a $9.4 million loan for the refinancing of Beechwood Apartments, a 208-unit multifamily community in Greensboro. TCR arranged the 35-year, fixed-rate loan through the HUD 223(f) program on behalf of the borrower, NC2 LLC. The program allows for long-term mortgages that can be financed with Government National Mortgage Association (GNMA) mortgage-backed securities, which improves the availability of loan proceeds for borrowers and allows for more favorable interest rates. Beechwood Apartments includes one- and two-bedroom units and features patios or balconies, a swimming pool and a playground.

January 9, 2018

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