LAREDO, TEXAS — Retail Solutions has secured a 25,000-square-foot lease at Laredo Town Center, a retail center located at 5511 Bob Bullock Expressway. Chris Flesner of Retail Solutions and Jim Weir of The Retail Connection represented the landlord in the transaction Jim Tapp of The Tapp Co. represented the tenant, Ross Dress for Less.
CHARLOTTE, N.C. AND SARASOTA, FLA. — The Dilweg Cos. has purchased a two-building office portfolio in the Southeast for $115.5 million. The assets include the 23-story First Citizens Bank Plaza in Uptown Charlotte and the two-tower Sarasota City Center in downtown Sarasota. Built in 1986 and renovated in 2002, the 476,393-square-foot First Citizens Bank Plaza was 29 percent leased at the time of sale to tenants such as First Citizens Bank, Advanced Disposal, The Carlyle Group and ManpowerGroup. Dilweg, which also announced the opening of its new Charlotte office, has tapped Tom Fitzgerald and Barry Fabyan of JLL to lease the property. Built in 1989, the 245,293-square-foot Sarasota City Center was 88 percent leased at the time of sale to tenants such as Boar’s Head, Wells Fargo, Merrill Lynch and UBS. Dilweg has retained Lori Hellstrom of Colliers International’s Tampa Bay office to lease Sarasota City Center. Dilweg plans to invest more than $10 million in capital improvements for First Citizens Bank Plaza and more than $4 million to improve Sarasota City Center. Ryan Clutter, Scot Humphrey, Herman Rodriguez, Tracey Goo and Chris Lingerfelt of HFF represented the sellers, Osprey East LLC and Osprey s.a. Ltd., in the transaction. Travis …
WEST COLUMBIA, S.C. — Miller-Valentine Group has begun construction on Midway Logistics II, a 200,000-square-foot speculative industrial facility located at 825 Bistline Drive in West Columbia. The property will be situated within Lexington County Industrial Park, a 350-acre master-planned industrial development located at the intersection of Interstates 77 and 26. Miller-Valentine Group has awarded Colliers International the leasing assignment for Midway Logistics II, which is the first speculative industrial facility built by a private developer in South Carolina’s Midlands region since 2009.
ATLANTA — Pollack Shores Real Estate Group has opened Millworks at Howell Mill, a 345-unit apartment community located on Emery Street in Atlanta’s West Midtown district. The property, which has 80 residences under lease, is situated near the intersection of Collier and Howell Mill roads. Millworks features one- and two-bedroom apartments ranging from 727 to 1,581 square feet. Matrix Residential, a Pollack Shores subsidiary, is managing Millworks. Community amenities at Millworks at Howell Mill include a conference room, Google Fiber connectivity, resort-style saline pool, bocce ball court and an outdoor lounge.
CHATTANOOGA, TENN. — Atlanta-based Branch Properties and DeFoor Development plan to develop The Village of Waterside, a 162,000-square-foot shopping center in Chattanooga’s Hamilton Mill neighborhood. The property, which will be anchored by Publix and REI, will be situated on 22.8 acres at the intersection of Shallowford and Gunbarrel roads. This will be the first Chattanooga store for REI, an outdoor gear and apparel retailer. Branch and DeFoor expect to deliver The Village of Waterside in late summer 2018.
ORLANDO, FLA. — Foundry Commercial has formed a joint venture with PGIM Real Estate to develop Princeton Oaks, a 510,000-square-foot, Class A industrial project in Orlando. The property, which is expected to add 300 new jobs to the area, will be situated on 60 acres near the intersection of John Young Parkway and Princeton Street. Foundry Commercial and PGIM expect to deliver Princeton Oaks in December.
SHILOH, ILL. — Crevo Capital has unveiled plans to develop a $35 million apartment property in Shiloh, about 22 miles east of St. Louis. The Savannah will consist of 300 luxury apartments on 26 acres. Amenities will include a health club and community lounge. Floor plans will consist of one-, two- and three-bedroom layouts. Housing Studio is designing the buildings and site layout. Fairview Heights, Ill.-based IMPACT Strategies will provide construction services. Pending approval from the Village of Shiloh, Crevo Capital expects to begin construction this fall with units available for occupancy in early 2019.
DES MOINES, IOWA — Dougherty Mortgage LLC has arranged an $11 million loan for the acquisition of Willow Park Apartments in Des Moines. The apartment property, which consists of 300 units, was built in 1976 and renovated in 2000. The 10-year Fannie Mae loan includes a 30-year amortization schedule. Dougherty’s Minneapolis office arranged the loan for the borrower, Willow Park Partners LLC.
SIDNEY, OHIO — Cooper Commercial Investment Group has negotiated the sale of a single-tenant property net leased to Chipotle Mexican Grill in Sidney for $1.5 million. The property is located about 40 miles north of Dayton near I-75. Chipotle signed a 10-year lease in 2016. Dan Cooper of Cooper Commercial represented both parties in the sales transaction. The buyer, an Ohio-based private investor, purchased the property in a 1031 exchange. The seller was a private investment group also based in Ohio.
TROY, MICH. — Signature Associates has arranged the sale of a 15,040-square-foot industrial building in Troy. The sales price was not disclosed. The property is located at 1350 Piedmont Drive. Paul Hoge and John Boyd of Signature Associates represented the seller, Wayne Huron Piedmont LLC. Joe Hamway, also of Signature Associates, represented the buyer, Falcon SJD Investments LLC.