Property Type

Aspen Heights Partners Sells 200-Unit Apartment Tower in Downtown Austin

by Amy Works February 1, 2017

AUSTIN — Austin-based Aspen Heights Partners has completed the sale of Rise on 8th, a 22-story apartment building located at 805 Nueces St. in downtown Austin. An undisclosed buyer acquired the 200-unit property, which features a conference room, TV lounge and technology/coffee bar on the first floor. The 10th floor features an outdoor fire pit, outdoor grills, a swimming pool and an indoor lounge. The 22n d floor features a 2,000-square-foot fitness center with free weights and cardio equipment. The buyer intends to announce the details of the property to the market later this year. The acquisition price was not released.

February 1, 2017

PinPoint, LifeWell Start Construction of 86-Unit Seniors Housing Community in Amarillo, Texas

by Amy Works February 1, 2017

AMARILLO, TEXAS — PinPoint Senior Living and LifeWell Senior Living LLC have started construction of The Legacy at Town Square, an 86-unit independent living, assisted living and memory care community in Amarillo. The companies plan to complete the project in late fall 2017. PinPoint is a Houston-based seniors housing developer with 14 communities open or in development. LifeWell is a Houston-based seniors housing operator with nine communities open or in development in Texas, Florida and New Mexico.

February 1, 2017

Office Texas

Talon Private Capital Sells 111,722 SF Office Building in Dallas

by Amy Works February 1, 2017

DALLAS — Talon Private Capital has completed the disposition of an office building located at 2525 McKinnon St. in Dallas’ Uptown submarket. City Office REIT Inc. acquired the 111,722-square-foot property for an undisclosed price. Completed in 2003, the property was 96 percent leased at the time of sale. The Retail Connection, Aramark Service, Staffelbach, Hunt and Berkeley Research are tenants at the property. HFF represented the seller and procured the buyer in the transaction.

February 1, 2017

Loans Multifamily Texas

Dougherty Mortgage Closes $3.3M Loan for 84-Unit Multifamily Property in Metro San Antonio

by Amy Works February 1, 2017

BALCONES HEIGHTS, TEXAS — Dougherty Mortgage has closed a $3.3 million Fannie Mae loan for the refinancing of Balcones Lofts, an affordable multifamily property located in Balcones Heights, a suburb 10 minutes northwest of San Antonio. Dougherty’s Minneapolis arranged the 15-year loan with a 30-year amortization schedule for the borrower, Balcones Lofts Ltd. The 84-unit property features one-, two- and three-bedroom units, a swimming pool, 24-hour fitness center and a community room.

February 1, 2017

Office Southeast Virginia

Paramount Group to Sell 24-Story Office Building in Metro D.C. for $460M

by John Nelson February 1, 2017

ARLINGTON, VA. — New York-based Paramount Group Inc., a publicly traded office REIT, has entered into an agreement to sell Waterview, a 24-story, 647,000-square-foot office building in Arlington’s Rosslyn neighborhood, for $460 million. Paramount Group sold the asset to Morgan Stanley Real Estate, according to Washington Business Journal. Situated along the Potomac River, Waterview’s office space is currently 99 percent leased to a single tenant, whose lease expires in January 2028. The transaction is expected to close in the second quarter of 2017.

February 1, 2017

Georgia Mixed-Use Retail Southeast

Related Group Selects Balfour Beatty US to Build Whole Foods Store in Midtown Atlanta

by John Nelson February 1, 2017

ATLANTA — The Related Group has selected Balfour Beatty US to construct a multi-level Whole Foods Market store in Midtown Atlanta. Situated on 2.2 acres at West Peachtree and 14th streets, the new store will anchor The Related Group’s Apogee Midtown, a 39-story high-rise apartment tower that Balfour Beatty US is also constructing. The new 72,000-square-foot store will feature a microbrewery and a rooftop patio bar. Phillips Partnership Inc. designed the new Whole Foods, which The Related Group expects to deliver in the first quarter of 2018.

February 1, 2017

Florida Industrial Southeast

Core5, Helms to Develop 750,000 SF Industrial Park in Broward County

by John Nelson February 1, 2017

PEMBROKE PINES, FLA. — A joint venture between Atlanta-based Core5 Industrial Partners and Helms Development has acquired a 60-acre land parcel at 2041 Sheridan St. in Pembroke Pines from the city of Pembroke Pines. The team plans to develop a three-building, 750,000-square-foot distribution park known as South Florida Distribution Center at the site. Beginning in April, Core5 and Helms will break ground on Phase I, a 223,008-square-foot spec building. The site is one of the last remaining in southwest Broward to offer build-to-suit options for larger industrial users that need trailer parking, according to Core5. South Florida Distribution Center is Core5’s first project in the state of Florida. The developers have selected Larry Dinner, Larry Genet and Tom O’Loughlin of CBRE to lease the project.

February 1, 2017

North Carolina Office Southeast

JLL Arranges 215,450 SF Office Lease in Metro Raleigh

by John Nelson February 1, 2017

MORRISVILLE, N.C. — JLL has arranged INC Research Holdings Inc.’s office lease at Perimeter Five, a Class A office building under construction at 3032 Carrington Mill Blvd. in Morrisville, about 13 miles west of Raleigh. The global contract research firm leased the entire 215,450-square-foot building, which will be situated within the 3 million-square-foot Perimeter Park master-planned office development. The office building will feature lake views, green space, a café serving Starbucks Coffee and a fitness center. Erika Jean McNeil, Paul Glickman, Matthew Astrachan and Michael Morgan of JLL represented INC Research in the 12-year lease deal. William Allen of Trinity Partners represented the landlord. The office building will break ground in March for an expected delivery in July 2018.

February 1, 2017

Industrial Southeast Tennessee

NAI Saig Secures 200,000 SF Industrial Lease in Memphis

by John Nelson February 1, 2017

MEMPHIS, TENN. — NAI Saig has arranged a 200,000-square-foot lease for industrial space at 4221 Pilot Drive in Memphis. Hank Martin and Elliot Embry of NAI Saig represented the landlord, Dallas-based Sealy Pilot LLC, in the lease transaction. Jeb Fields of Cushman & Wakefield’s Memphis office represented the Memphis-based tenant, Mallory Alexander International Logistics LLC, a full-service logistics provider that supports manufacturers and retailers. The three-year lease is valued at nearly $1.5 million, according to NAI Saig.

February 1, 2017

Indiana Midwest Office

CBRE Arranges Sale of 591,387 SF Office Park in Carmel, Indiana

by Kristin Harlow February 1, 2017

CARMEL, IND. — CBRE Group Inc. has arranged the sale of Hamilton Crossing office park in Carmel, immediately north of Indianapolis. The sales price was not disclosed. The 44-acre office park is located along U.S. 31. The property consists of six buildings and 591,387 square feet. The Class A office space is 88 percent occupied. An affiliate of Group RMC purchased the buildings. Duke Realty owned five of the buildings, while Bankruptcy Estate of ITT Educational Services was the owner of the sixth building. Dan Richardson, David Funke and Paul Lundstedt of CBRE brokered the transaction.

February 1, 2017

Newer Posts

Older Posts