Property Type

Park Place Dealerships to Develop 70,000 SF Porsche Dealership in Grapevine

by Amy Works February 17, 2017

GRAPEVINE, TEXAS — Park Place Dealerships is developing a Porsche dealership off Texan Trail and State Highway 114 in Grapevine. Construction on the two-story, 70,000-square-foot dealership is expected to start within the next 30 days, with completed slated for spring 2018. The project will create more than 180 temporary construction jobs and approximately 50 permanent jobs. Park Place Porsche will have the capacity to feature 21 display vehicles on the showroom floors and feature a shop with 28 service and make-ready bays. Hill & Wilkinson is serving as general contractor, and Good, Fulton & Farrell is providing architectural services for the project.

February 17, 2017

Davis Holdings Purchases 33,000 SF Loft Office Building in Houston

by Amy Works February 17, 2017

HOUSTON — Davis Holdings has acquired a fully occupied office building located at 1500 McGowen St. in Houston. Skyland Lodge Tract sold the 33,000-square-foot property for an undisclosed price. Originally built in 1972 and renovated in 2002, the two-story, Class B office building features loft-style office space with modern building systems. Louis Rosenthal of JLL represented Davis Holdings, while David Husid and Brandi McDonald of Newmark Grubb Knight Frank represented the seller in the deal.

February 17, 2017

Restaurant Retail Texas

Venture Commercial Brokers Sales of Two Restaurant Properties in North Texas

by Amy Works February 17, 2017

WEATHERFORD AND GRAND PRAIRIE, TEXAS — Venture Commercial Real Estate has arranged the sales of two restaurant properties in north Texas. John Zikos, Jonathan Cooper, Christopher Gibbons and Don Miller of Venture represented the sellers in both transactions. Raising Cane’s Chicken Fingers occupies both properties. In the first deal, RC Weatherford Partners sold a 3,587-square-foot, single-tenant, net-leased restaurant property located at 1824 S. Main St. in Weatherford. Beutler Exchange Group for 4 Mile and Weed Ranches acquired the property for an undisclosed price. Arthur Flores of CBRE represented the buyer in the deal. In the second transaction, Life in the Fast Food Lane sold a 2,722-square-foot restaurant property located at 2960 W. Camp Wisdom Road in Grand Prairie to Weinberg LLC for an undisclosed price. Jason Jones of California Lifestyle Realty represented the buyer in the deal.

February 17, 2017

Hospitality Texas

Marcus & Millichap Negotiates Sale of 87-Room Hotel in North Richland Hills, Texas

by Amy Works February 17, 2017

NORTH RICHLAND HILLS, TEXAS — Marcus & Millichap has brokered the sale of Best Western Northeast Mall Inn & Suites, a hotel located at 8709 Airport Freeway in North Richland Hills. A limited liability company acquired the 87-room hotel for an undisclosed price. Constructed in 1984 and recently renovated, the property features a fitness center, pool and spa, meeting space and fully equipped business center. Chris Gomes and Allan Miller of Marcus & Millichap represented the seller, a limited liability company, and procured the buyer in the transaction.

February 17, 2017

Retail Texas

The Retail Connection Brokers 11,962 SF Retail Lease in Wichita Falls, Texas

by Amy Works February 17, 2017

WICHITA FALLS, TEXAS — The Retail Connection has arranged the lease of retail space in Wichita Falls. CitiTrends signed a lease for 11,962 square feet from Sikes Senter LLC. Jamie Streeter and Jim Weir of The Retail Connection represented the tenant, while Irys Citko of Rouse Properties represented the landlord in the deal.

February 17, 2017

Florida Multifamily Southeast

RADCO Buys 540-Unit Apartment Property in Tampa for $58.5M

by John Nelson February 17, 2017

TAMPA, FLA. — The RADCO Cos. has purchased St. Croix, a 540-unit, Class B apartment community in Tampa, for $58.5 million. The Atlanta-based multifamily investor plans to rebrand the asset Radius Tampa Palms and invest $7 million in capital improvements to the property’s amenities and interiors. RADCO is financing the acquisition and renovations using a $45.4 million Freddie Mac loan and $23 million in private capital. RADCO’s property management division, RADCO Residential, will manage Radius Tampa Palms. Built in two phases in 1988 and 1990, the apartment community comprises one- and two-bedroom units averaging 754 square feet. Community amenities include a fitness center, two pools, lighted tennis courts, sand volleyball court, clubhouse, business center and a dog park.

February 17, 2017

Georgia Loans Multifamily Southeast

Grandbridge Arranges $41.4M Acquisition Loan for Apartment Community in Atlanta

by John Nelson February 17, 2017

ATLANTA — Grandbridge Real Estate Capital has closed a $41.4 million acquisition loan for Collier Ridge Apartments, a 300-unit multifamily community situated in Atlanta’s West Midtown district. Alan Tapie and Thomas Wiedeman of Grandbridge’s Atlanta office arranged the Freddie Mac loan with three years of interest-only payments and two 12-month extension options on behalf of the borrower, a repeat client of Grandbridge. The loan features an 85 percent LTV ratio and qualified for Freddie Mac’s Green Up program due to sustainable renovations planned by the borrower. Collier Ridge’s community amenities include a fitness center, swimming pool, leasing center/clubhouse, dog park and tennis courts.

February 17, 2017

Maryland Retail Southeast Uncategorized

IPA Arranges $18.4M Sale of Cromwell Field Shopping Center in Metro Baltimore

by John Nelson February 17, 2017

GLEN BURNIE, MD. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the $18.4 million sale of Cromwell Field Shopping Center, a 233,486-square-foot retail property located in the Baltimore suburb of Glen Burnie. Tenants at the 88 percent occupied center include Giant Foods, Roses Discount Store, BB&T Bank, Dollar General, McDonald’s, House of Tropicals and Dunkin’ Donuts. Dean Zang and Christopher Burnham of IPA represented the seller, an affiliated partnership of Klein Enterprises, in the transaction. Tim McCann, Alex Staneski and Alex Topchy represented the buyer, an affiliate of Broad Street Realty, in-house.

February 17, 2017

Alabama Retail Southeast

Colliers Brokers $12M Sale of Hoover Retail Property Leased to Field & Stream

by John Nelson February 17, 2017

HOOVER, ALA. — Colliers International has negotiated the $12 million of a 50,000-square-foot store along Interstate 495 in Hoover leased to Field & Stream, an outdoor gear retailer brand owned by Dick’s Sporting Goods. A private buyer purchased the asset from an undisclosed seller. Tony D’Ambrosio and Joe Montgomery of Colliers’ Southeast Retail Investment team represented the seller in the transaction.

February 17, 2017

Georgia Retail Southeast

FCA Partners Adds Sephora to Tenant Roster at The Exchange Shopping Center in Buckhead

by John Nelson February 17, 2017

ATLANTA — Charlotte-based FCA Partners has added a new retailer to its tenant lineup at The Exchange, a 44,500-square-foot redeveloped shopping center located at Peachtree Road and Grandview Avenue in Atlanta’s Buckhead district. Sephora, a cosmetics retailer based in Paris, has signed on for 4,500 square feet of corner space adjacent to an upcoming YEAH! Burger. Other committed tenants at The Exchange include SculptHouse, Storico Fresco Alimentari, Kohler, Kale Me Crazy, Posh Nails and Cherry Blow Dry Bar — all of which are now open. Stephanie McCall of The Shopping Center Group, the exclusive leasing agent for the retail center, is currently in negotiations with additional tenants for the available 19,000 square feet of space remaining at The Exchange. Sephora is scheduled to open its doors this summer.

February 17, 2017

Newer Posts

Older Posts