Property Type

Chick-fil-A to Develop $100M Distribution Facility Near Cincinnati

by Hayden Spiess December 12, 2024

ELSMERE, KY. — Chick-fil-A Supply, a wholly owned subsidiary of Chick-fil-A Inc. that handles the restaurant chain’s logistics and warehousing, has announced plans for a new, $100 million distribution facility in Elsmere, roughly 10 miles outside Cincinnati in Northern Kentucky. Upon completion, the 270,000-square-foot development will be situated on a 28-acre site within 10 miles of Cincinnati/Northern Kentucky International Airport. Construction of the facility is currently underway, with the distribution center expected to be operational in 2026. According to a press release issued by the office of Kentucky Gov. Andy Beshear, the facility is expected to create more than 178 new permanent, full-time jobs over the next five years. The new Chick-fil-A Supply facility will be located within the C5 Airport East Logistics Center, according to Link NKY. The newspaper also reported that Niagra Bottling will move into the same complex in 2026. Atlanta-based Core5 Industrial Partners is the owner of the industrial park, according to the company’s property page. Chick-fil-A Supply currently operates nine distribution centers located in Georgia, North Carolina, Tennessee, Missouri, Ohio, Kansas and Texas. The centers support Chick-fil-A restaurants logistically and deliver ingredients and supplies. The Elsmere facility will support roughly 150 restaurants within the region. Originally …

December 12, 2024

Acquisitions Office Texas

Brandywine Realty Trust Sells Two Southwest Austin Office Buildings for $107.6M

by Taylor Williams December 11, 2024

AUSTIN, TEXAS — Brandywine Realty Trust (NYSE: BDN), a Philadelphia-based REIT, has sold One & Two Barton Skyway, a pair of office buildings totaling 386,000 square feet in southwest Austin, for $107.6 million. The buildings are located at 1501 and 1601 S. MoPac Expressway within Barton Skyway, an office park that consists of four buildings on a 35-acre site. The City of Austin purchased the properties with plans to utilize them as a consolidated public safety headquarters. Brandywine retains ownership of Four Barton Skyway, which is currently 94 percent leased.

December 11, 2024

Acquisitions Multifamily Student Housing Texas

Investcorp Buys Three Student Housing Properties Totaling 1,962 Beds in Central Texas, Oklahoma

by Taylor Williams December 11, 2024

NEW YORK CITY — Investcorp has purchased three student housing properties totaling 1,962 beds in Central Texas and Oklahoma. The unnamed assets include a 792-bed community that serves students at Texas A&M University in College Station; a 486-bed complex for students at Texas State University in San Marcos; and a 684-bed property that houses students at the University of Oklahoma in Norman. Investcorp acquired the properties, all of which were nearly fully occupied at the time of sale, as part of a portfolio deal that included a 699-bed community for students at the University of Kentucky in Lexington. The seller and sales price were not disclosed.

December 11, 2024

Industrial Leasing Activity Texas

United Fine Arts Services Signs 63,858 SF Industrial Lease in Farmers Branch, Texas

by Taylor Williams December 11, 2024

FARMERS BRANCH, TEXAS — United Fine Arts Services has signed a 63,858-square-foot industrial lease in the northern Dallas metro of Farmers Branch. According to LoopNet Inc., the building at 4335 N. Beltwood Parkway was originally built in 1976 and renovated in 1981. Sarah Ozanne and Mac Hall of Stream Realty Partners represented the landlord, Boston-based Longpoint, in the lease negotiations. Rich Young of Rich Young Co. represented the tenant.

December 11, 2024

Acquisitions California Multifamily Western

Mesirow Acquires Preserve at Melrose Multifamily Community in San Diego for $185M

by Amy Works December 11, 2024

SAN DIEGO — Chicago-based financial services firm Mesirow has purchased Preserve at Melrose, a 410-unit multifamily property located in the Vista neighborhood of San Diego, for $185 million. Built in 2015, Preserve at Melrose offers one-, two- and three-bedroom floor plans. According to Apartments.com, the garden-style community features amenities such as a business center, clubhouse, lounge, fitness center, pool, playground and courtyard. Hunter Combs of Walker & Dunlop represented the seller, a locally based group, and the buyer in the deal.

December 11, 2024

Colorado Development Multifamily Office Restaurant Retail Western

Prism Places, McWhinney to Develop Mixed-Use Commercial Centers in Northern Colorado Master-Planned Communities

by Amy Works December 11, 2024

BROOMFIELD AND LOVELAND, COLO. — Prism Places has partnered with McWhinney to develop two separate commercial districts in Northern Colorado’s Broomfield and Loveland. The first project, Center Street, is slated to serve as the business district for Baseline, an 1,100-acre master-planned community in Broomfield. The walkable 312,000-square-foot commercial center will include 80,000 square feet of office space, 116,00 square feet of retail space, 37,000 square feet of grocery space and 78,000 square feet of restaurant space. Additionally, Center Street will offer more than 400 residential units. Michael Hsu Office of Architecture has designed the project, which already has an organic grocer preleased. The second project, Avenue South, will be the business and commercial hub for Centerra, a 3,000-acre master-planned community in Loveland. Totaling 360,000 square feet, Avenue South will include a 128,000-square-foot retail component, a 127,000-square-foot Class A office portion and 1,750 residential units. Architects Orange is designing Avenue South, which has a 37,000-square-foot lease signed with an organic grocer. Center Street is slated to break ground in September 2026, and Avenue South is scheduled to break ground in November 2025.

December 11, 2024

Acquisitions Industrial Nevada Western

Panattoni Development Completes 182,184 SF Simmons Airpark in North Las Vegas

by Amy Works December 11, 2024

NORTH LAS VEGAS, NEV. — Panattoni Development Co. has completed Simmons Airpark at 2880 Simmons St. in North Las Vegas. The 182,184-square-foot industrial building features a clear height of 36 feet, full concrete drive aisles and truck court, rear loading configuration, 1,895 square feet of build-to-suit office areas, 50-foot by 52-foot column spacing and an ESFR sprinkler system. The four-tenant building is located adjacent to North Las Vegas Airport and is three miles to the Cheyenne Interchange. The project is listed with Larkin Industrial Group and is owned by Panattoni Development.

December 11, 2024

Acquisitions Retail Texas

JLL Negotiates Sale of 24,188 SF Retail Center in Fulshear, Texas

by Taylor Williams December 11, 2024

FULSHEAR, TEXAS — JLL has negotiated the sale of Shops at Cross Creek, a 24,188-square-foot retail center in Fulshear, a western suburb of Houston. The center was built in 2015 and was fully leased at the time of sale to tenants such as Yen Fulshear, Rightway Dental, Marvelous Clinic, Firehouse Subs and Avis Budget Car. Ryan West, John Indelli and Gianna New of JLL represented the seller, Rycore Capital, in the transaction. The buyer was Cincinnati-based retail REIT Phillips Edison & Co.

December 11, 2024

Industrial Loans Washington Western

Gantry Secures $11.9M in Refinancing for Dogwood Enterprises Industrial Park in Everett, Washington

by Amy Works December 11, 2024

EVERETT, WASH. — Gantry has secured $11.9 million in refinancing for Dogwood Enterprises Industrial Park, located at 3200 35th Ave. NE in Everett. Situated on 31.6 acres, the four-building property offers 106,686 square feet and direct access to I-5. The park is leased to a single tenant. Mike Wood, Demetri Koston and Tim Brown of Gantry arranged the 10-year, fixed-rate loan with a 25-year amortization schedule through a credit union for the borrower, a private real estate investor.

December 11, 2024

Acquisitions Colorado Industrial Western

Pinnacle Real Estate Arranges Sale of 16,000 SF Industrial Property in Englewood, Colorado

by Amy Works December 11, 2024

ENGLEWOOD, COLO. — Pinnacle Real Estate Advisors has brokered the sale of an industrial building located at 3950-3960 S. Mariposa St. in Englewood. The asset traded for $2.2 million. The 16,000-square-foot, small-bay property offers eight 2,000-square-foot units. Peter Sengelmann of Pinnacle Real Estate Advisors represented the undisclosed seller in the deal.

December 11, 2024

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