Property Type

Skanska USA to Deliver 395,000 SF Academic Building at Water Street Tampa Development

by Camren Skelton October 31, 2017

TAMPA, FLA. — Skanska USA has broken ground on a research and academic tower for the University of South Florida’s Morsani College of Medicine and Heart Institute in downtown Tampa. The college of medicine will relocate from 12901 Bruce B. Downs Blvd. to the new 395,000-square-foot building within Water Street Tampa, a $3 billion mixed-use project from Strategic Property Partners. HOK is designing the 13-story tower, which will feature a 400-person auditorium, classrooms, study rooms and a series of spaces for informal collaboration and gathering. The new building will be located at South Meridian Avenue and Channelside Drive on an acre of land donated by Tampa Bay Lightning team owner Jeff Vinik. The building is slated for completion in fall 2019.

October 31, 2017

Georgia Multifamily Southeast

Cushman & Wakefield Arranges $29.8M Land Sale in Atlanta for Future Mixed-Use Development

by Camren Skelton October 31, 2017

ATLANTA — Cushman & Wakefield has arranged the $29.8 million sale of a land site located at the corner of Memorial Drive and Bill Kennedy Way in Atlanta’s Reynoldstown submarket. The site was formerly occupied by manufacturer Leggett & Platt. Matt Hawkins, Pierce Owings and Ron Willingham of Cushman & Wakefield represented the undisclosed seller in the transaction. Atlanta-based Fuqua Development acquired the 17-acre property, with plans to develop a $250 million mixed-use development dubbed Madison Yards. The project will include 160,000 square feet of retail space — including anchor tenants Publix and AMC Theatres — 80,000 square feet of loft office space, 550 apartment units and townhomes. Madison Yards is expected to open as early as 2019.

October 31, 2017

Maryland Multifamily Southeast

UIP Acquires Multifamily Community in Metro D.C. for $31.8M

by Camren Skelton October 31, 2017

GAITHERSBURG, MD. — Urban Investment Partners (UIP) has acquired Walker House, a 212-unit apartment community located along the Interstate 270 corridor in Gaithersburg, roughly 23 miles northwest of Washington, D.C. CBRE represented the seller, Washington REIT, in the $31.8 million transaction. Capital One provided acquisition financing for the asset. Walker House includes 196 apartment units constructed in 1971, plus 16 garden apartments constructed in 2003. UIP will renovate the property with updated cabinets, counters, appliances, lighting and flooring. UIP will also update the existing fitness center, lounge and other amenity spaces. Walker House was fully occupied at the time of sale.

October 31, 2017

Florida Retail Southeast

Stan Johnson Co. Brokers $29.5M Sale of Retail Center Near Disney World

by Camren Skelton October 31, 2017

CELEBRATION, FLA. — Stan Johnson Co. has arranged the $29.5 million sale of the Shoppes at Celebration Place, a 44,095-square-foot retail center located at 6200-6296 W. Irlo Bronson Memorial Highway in Celebration, roughly 3 miles south of Walt Disney World. Joey Odom, Mike Sladich, K.B. Yabuku and Maggie Holmes of Stan Johnson Co. represented both the seller, South Florida-based Flagler Realty & Development, and the buyer, New York-based Ben Hur Investments. At the time of sale, the Shoppes at Celebration Place was fully leased to tenants including Walgreens, Applebee’s, Arby’s, Dunkin’ Donuts, Chipotle Mexican Grill and Five Guys Burgers & Fries.

October 31, 2017

Multifamily Texas

Hines to Develop 396-Unit Multifamily Project in San Antonio

by Taylor Williams October 31, 2017

SAN ANTONIO — Hines will develop a four-story, 396-unit multifamily property within The Rim, a retail development located in northwest San Antonio. Designed by Meeks + Partners, the property will feature amenities such as a clubhouse, collaborative work room, fitness center, pool, game room and dog park. Units will range in size from 682 to 1,479 square feet. Construction is scheduled to begin during the first quarter of 2018, with occupancy slated for spring 2019. The project will be Hines’ first multifamily development in San Antonio.

October 31, 2017

Office Texas

JLL Brokers Sale of 136,325 SF Office Building in Northwest Houston

by Taylor Williams October 31, 2017

HOUSTON — JLL has brokered the sale of 2525 North Loop West, a 136,325-square-foot, Class B office building in northwest Houston. A partnership between Lykes Building Holding Associates and Smetana Texas Realty Associates sold the asset to 2525 Inner Loop LP for an undisclosed price. The new ownership, which now holds more than 1 million square feet of office space in the immediate area, will invest in capital improvements to the property and will bring retail space to its adjacent pad sites. Rudy Hubbard, Kevin McConn and Rick Goings of JLL brokered the sale.

October 31, 2017

Data Centers Industrial Texas

vXchnge Acquires 100,000 SF Data Center Campus in Austin

by Taylor Williams October 31, 2017

AUSTIN, TEXAS — Tampa-based data center operator vXchnge has acquired a 100,000-square-foot data center campus located at 8025 N. Interstate 35 in Austin. The colocation facility, which is currently undergoing a doubling of its current capacity, will eventually be capable of producing 26 megawatts of power. The sale includes the 18 acres of land on which the campus is situated. The seller and sales price were not disclosed.

October 31, 2017

Multifamily Texas

Allied Orion Begins Leasing 281-Unit Apartment Community in Houston

by Taylor Williams October 31, 2017

HOUSTON — Allied Orion Group has begun leasing The Beacon at Buffalo Pointe, a 281-unit multifamily community located at 10301 Buffalo Speedway in Houston. The property offers convenient access to the Texas Medical Center and NRG Stadium, as well as the Galleria and downtown areas. Floor plans include one-, two- and three-bedroom units and amenities include a pool with cabanas, grilling stations, a fitness center, pet park and a cybercafé. Houston-based Steinberg Design Collaborative Architects designed the project.

October 31, 2017

Industrial Texas

NAI Partners Arranges Sale of 13,230 SF Warehouse in West Houston

by Taylor Williams October 31, 2017

HOUSTON — NAI Partners has arranged the sale of a 13,230-square-foot warehouse located at 11811 Tanner Road in west Houston. John Ferruzzo and Nick Peterson of NAI Partners represented the seller, Herman Allen Stewart, in the transaction. Mark Lehman and Nathan Rodriguez of Centermark Real Estate represented the buyer, Indiana-based BRADY Investments LLC. Other terms of sale were not released.

October 31, 2017

Hospitality Illinois Loans Midwest Missouri Wisconsin

Aries Conlon Capital Arranges $62.4M Refinancing for Hotel Portfolio

by Kristin Harlow October 31, 2017

CHICAGO — Chicago-based Aries Conlon Capital has arranged a $62.4 million non-recourse loan for the refinancing of a seven-hotel portfolio in seven states. The portfolio, owned by Inner Circle Investments, includes six Radisson hotels, which are located in Cromwell, Conn.; Billings, Mont.; Highpoint, N.C.; Albany, N.Y.; Appleton, Wis.; and Cheyenne, Wyo; as well as one independent, boutique hotel in St. Louis. Rushi Shah of Aries Conlon arranged the interest-only loan with an international investment bank. Instead of refinancing its assets as fee-simple properties, Inner Circle split ownership of the land parcels and the hotels into leased-fee and leasehold entities respectively, entered into 99-year leases with its hotels as tenants and then refinanced the land/leased-fee portions at a higher loan-to-value ratio and more attractive terms. Aries Conlon is now refinancing the corresponding leaseholds to effectively close the loop.

October 31, 2017

Newer Posts

Older Posts