Property Type

Port Logistics Realty Completes 1.1 MSF Industrial Facility in Metro Dallas

by Amy Works February 9, 2017

WILMER, TEXAS — Port Logistics Realty (PLR) has completed the construction of the first building at its 531-acre, $500 million Southport Logistics Park in Wilmer. The 1.1 million-square-foot property features a cross-dock design, 36-foot clear heights, 570-foot building depth, 185-foot truck court, a 60-foot staging area, 54- by 50-foot column spacing, truck courts and vehicle parking. PLR is currently underway on the remainder of Southport Logistics Park’s first phase, which includes $22 million in infrastructure investments and a total of five buildings totaling more than 3.8 million square feet. The park’s second building, a 400,000-square-foot facility, is under construction and scheduled for completion in the second quarter. At full buildout, the park will feature 9 million square feet of new distribution and e-commerce fulfillment centers, with up to nine buildings ranging in size from 400,000 square feet to 1 million square feet. Southport Logistics Park is a joint venture between PLR and Diamond Realty Investments, a wholly owned subsidiary of Mitsubishi Corp.

February 9, 2017

Titan Senior Living Starts Construction on 109-Unit Seniors Housing Community in Corpus Christi

by Amy Works February 9, 2017

CORPUS CHRISTI, TEXAS — Titan Senior Living has started construction on Elan: A Senior Lifestyle, a 109-unit seniors housing community that will be situated at the intersection of Saratoga Boulevard and Staples Street in Corpus Christi. Slated to open in the summer of 2018, the property will feature assisted living and memory support services, chef-prepared meals, a bistro, salon, wellness center and 24/7 concierge services. Civitas Senior Living will operate the property.

February 9, 2017

Retail Texas

Bellomy & Co. Brokers Sale of 161-Unit Self-Storage Facility in San Antonio

by Amy Works February 9, 2017

SAN ANTONIO — Bellomy & Co. has arranged the sale of Crestway Self Storage, located at 7095 Crestway Road in San Antonio. Lockaway Storage acquired the property for an undisclosed price. Built in 2008, the 22,300-square-foot property features 161 units. Bill Bellomy, Michael Johnson and John Arnold of Bellomy & Co. represented the undisclosed, San Antonio-based seller in the deal.

February 9, 2017

Healthcare Texas

Joint Venture to Build Ambulatory Surgery Center in Houston

by Amy Works February 9, 2017

HOUSTON — Bay Area Regional Medical Center and Medistar Corp. are developing a new ambulatory surgery center at Gemini III, Medistar’s three-building medical campus in Houston. The facility will feature new medical equipment, two special procedure rooms and four operating suites with future expandability to six operating rooms. Plans are underway now for the surgery center, with construction slated for completion late this year. Located on the same campus, Gemini I and II are fully leased to orthopedic surgeons, pain management and primary care physicians.

February 9, 2017

Retail Texas

HSM to Develop 763-Unit Self-Storage Facility in Garland, Texas

by Amy Works February 9, 2017

GARLAND, TEXAS — Henry S. Miller Cos., dba HSM Hwy 66 Storage LP, is developing a self-storage facility located at 1020 Hebron Drive in Garland. The 77,000-square-foot facility will feature 763 storage units. Construction began in mid-January and units are expected to be available in early fall. The property will offer interior and drive-up units, security and controlled access and an on-site manager. CubeSmart will manage the facility.

February 9, 2017

Massachusetts Northeast Office

The Davis Cos. Starts Construction on 223,000 SF Research Center in Cambridge

by Amy Works February 9, 2017

CAMBRIDGE, MASS. — The Davis Cos. has started construction on The Alewife Research Center, a transit-oriented lab building located at 45 Cambridgepark Drive in Cambridge. Slated for completion in summer 2018, the 223,000-square-foot building will feature ground-floor retail space and is adjacent to the Alewife Subway Station. The facility will offer highly flexible lab and R&D space, an employee lounge, conference meeting area, a fitness center with showers and lockers, and a bike room with secure storage. Project members include Spagnolo Gisness & Associates as architect, AHA Consulting Engineers and John Moriarty & Associates.

February 9, 2017

Connecticut Multifamily Northeast

Paredim Partners Purchases Multifamily Property in Stamford, Connecticut, for $33.3M

by Amy Works February 9, 2017

STAMFORD, CONN. — Paredim Partners has acquired Parallel 41 Apartments, a multifamily property located in Stamford, for $33.3 million. The property was nearly 100 percent occupied at the time of acquisition. The property features 124 apartments, a fitness center, lounge and roof deck. The buyer plans to implement a renovation and rebranding program for the property, which was built in 2012. The name of the seller was not released.

February 9, 2017

Massachusetts Northeast Office

HFF Arranges $18M Sale of 180,000 SF Office Asset in Danvers, Massachusetts

by Amy Works February 9, 2017

DANVERS, MASS. — HFF has arranged the sale of Tower at Northwoods, an office building located at 222 Rosewood Drive in Danvers, a suburb of Boston. LNR Partners sold the 180,000-square-foot property to an undisclosed buyer for $18 million. At the time of sale, the 11-story building was 90.8 percent leased. Tenants include Copyright Clearance, MetLife and Royal Bank of Canada. Chris Phaneuf and Patrick McAneny of HFF, along with Dustin Smith of LNR, represented the seller in the deal. Additionally, Brett Paulsrud of HFF secured a 10-year, fixed-rate acquisition loan through East Boston Savings Bank for the buyer.

February 9, 2017

Massachusetts Northeast Office

Oxford Properties, Alony Hetz Acquire 220,000 SF Office Building in Cambridge

by Amy Works February 9, 2017

CAMBRIDGE, MASS. — Oxford Properties Group and Alony Hetz Properties & Investments have purchased The Davenport Building, an office building located at 25 First St. in Cambridge, for an undisclosed price. At the time of sale, the four-story, 220,000-square-foot building was fully leased. Oxford Properties Group will manage the property. The name of the seller was not released.

February 9, 2017

Maine Northeast Office

Time Management Buys 114,017 SF Office Building in Portland, Maine

by Amy Works February 9, 2017

PORTLAND, MAINE — Time Management Corp. has acquired a four-story office building located at 82 Running Hill Road in Portland. Dead River Co. sold the 114,017-square-foot asset for an undisclosed price. Fairchild Semiconductor and Dead River Co. occupy the building, which was developed in 1987. CBRE | The Boulos Co. represented the seller, while Tom Moulton of NAI The Durham Group represented the buyer in the deal.

February 9, 2017

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