Property Type

Cushman & Wakefield Brokers $40.4M Sale of Apartment Community in Midtown Atlanta

by Camren Skelton January 25, 2018

ATLANTA — Cushman & Wakefield has arranged the $40.4 million sale of 500 Northside, a 351-unit apartment community located in Midtown Atlanta. Tyler Averitt, Josh Goldfarb and Robbie O’Bryan of Cushman & Wakefield arranged the transaction on behalf of the seller, Varden Capital Properties. The Griffin Fund acquired the asset. Constructed in 1968, 500 Northside features a clubhouse, coffee bar, fitness center, pool and a pet play area. The new owner plans to update 50 percent of the community’s un-renovated units, as well as fully renovate the property’s exterior.

January 25, 2018

Florida Retail Southeast

HFF Arranges $38.3M Sale of Bed Bath & Beyond-Anchored Center in South Florida

by Camren Skelton January 25, 2018

DORAL, FLA. — HFF has arranged the sale of Bed Bath & Beyond Plaza, a 97,456-square-foot shopping center in Doral, a city in South Florida’s Miami-Dade County. Daniel Finkle, Luis Castillo and Eric Williams of HFF arranged the transaction on behalf of the seller, Retail Properties of America Inc. A joint venture between Schmier Property Group and Independencia Asset Management acquired the center. The sales price was not disclosed, but the South Florida Business Journal reports the property sold for $38.3 million. Nat Scarmazzi of HFF arranged a 10-year, fixed-rate loan through Goldman Sachs Mortgage Co. on behalf of the new owners. At the time of sale, Bed Bath & Beyond Plaza was fully leased to tenants including Bed Bath & Beyond, Office Depot, Petco, Party City, Pier 1 Imports, Moe’s Southwest Grill, Doral Dental Partners and Starbucks Coffee.

January 25, 2018

Florida Office Southeast

TerraCap Sells 260,900 SF Office Building in Tallahassee to CoreCivic

by Camren Skelton January 25, 2018

TALLAHASSEE, FLA. — TerraCap Management LLC has sold Capital Commerce Center, a 260,900-square-foot office building located at 2601 Blair Stone Road in Tallahassee. Nashville-based CoreCivic, a publicly traded REIT, acquired the asset for an undisclosed price. Joe Rossi and Bob Cottle of Colliers International arranged the transaction on behalf of TerraCap, which originally acquired the property, then vacant, in 2013. At the time of sale, Capital Commerce Center was 98 percent leased to tenants including the Florida Department of Business and Professional Regulation (DBPR), the Florida Department of Agriculture, CareerSource and TEKSystems. Constructed in 1990, the building underwent renovations during TerraCap’s ownership, with tenant improvements for DBPR continuing into this year. The property comprises three interconnected buildings, including a parking garage attached to the building by a covered walkway. In addition, the property is situated approximately two miles from the Florida State Capitol and three miles from Florida State University.

January 25, 2018

Georgia Retail Southeast

Franklin Street Brokers $13.6M Sale of Retail Center in Metro Atlanta

by Camren Skelton January 25, 2018

BUFORD, GA. — Franklin Street has arranged the $13.6 million sale of Mill Creek Walk, a 36,358-square-foot retail center in Buford, roughly 35 miles north of Atlanta. John Tennant and Bryan Belk of Franklin Street arranged the transaction on behalf of the seller, Mill Creek/Cooper LLC, as well as the buyer, Bond Street Advisors Group. Petco anchors the center, which was 96 percent leased at the time of sale.

January 25, 2018

Industrial Southeast Tennessee

HSA Signs XPO Logistics to 279,199 SF Lease at New Industrial Property in Metro Nashville

by Camren Skelton January 25, 2018

LEBANON, TENN. — HSA Commercial Real Estate has secured a 279,199-square-foot lease with XPO Logistics Supply Chain Inc. at Commerce Farms V, a newly constructed industrial building in Lebanon, an eastern suburb of Nashville. The logistics and transportation service provider has 1,444 locations around the world. HSA Commercial Real Estate completed construction on the 651,380-square-foot building on a speculative basis in late 2017. Located at the intersection of State Route 840 and Highway 109, the building is the last site within Commerce Farms Business Center. Randy Wolcott, Chad Tuck and Joe DeLemos of NorthStar Real Estate Advisors arranged the lease on behalf of HSA Commercial Real Estate. Sue Earnest of Avison Young and Dave Saltzman of Lee & Associates represented XPO Logistics, which is scheduled to take occupancy in May after a limited interior build-out is completed. GEODIS Logistics LLC occupies the remaining 372,181 square feet of Commerce Farms V.

January 25, 2018

Multifamily Texas

KBS, Southern Land Break Ground on 19-Story Apartment Tower in Highland Park in Dallas

by Taylor Williams January 25, 2018

DALLAS — A joint venture between California-based KBS Realty Advisors and Tennessee-based Southern Land Co. has broken ground on a 309-unit multifamily tower in the Highland Park area of Dallas. The 19-story, Class A tower will feature amenities such as a fitness center, pool, resident lounge, private park and a 465-space parking garage. A timeline for completion has not yet been established.

January 25, 2018

Retail Texas

Davis Commercial Arranges Sale of 56,000 SF Shopping Center in West Houston

by Taylor Williams January 25, 2018

HOUSTON — Davis Commercial Real Estate has arranged the sale of a 56,000-square-foot shopping center located at 1315 S. Dairy Ashford Road in west Houston. Lee Harwood and Ashley Casterlin of Davis Commercial represented the buyer, Dasford LLC, in the transaction. The seller, Grace Point Church, purchased the property in the 1980s and will remain its primary occupant, along with Marco’s Pizza and Kingdom Kids Daycare.

January 25, 2018

Industrial Office Texas

Price Distributing to Relocate to 70,000 SF Office, Distribution Center in Metro Dallas

by Taylor Williams January 25, 2018

ENNIS, TEXAS — Price Distributing Co., a distributor of alcoholic beverages, will relocate from its current headquarters at 1212 Clay St. in the southern Dallas metro of Ennis to a new, 70,000-square-foot property, also in Ennis. St. Louis-based HDA Architects is designing the new property, which will serve as both Price’s primary office space and distribution center. A timetable for construction has not yet been established.

January 25, 2018

Multifamily Seniors Housing Texas

HFF Brokers Sale of 140-Bed Skilled Nursing Facility in Metro Austin

by Taylor Williams January 25, 2018

BEE CAVE, TEXAS — HFF has brokered the sale of Park Manor at Bee Cave, a 140-bed acute-care skilled nursing facility in the western Austin suburb of Bee Cave. Built in 2014, the property’s location near the 106-bed Baylor Scott & White Medical Center makes it the only skilled nursing facility within a four-mile radius. David Fasano, Ryan Maconachy and Chad Lavender of HFF represented the seller, Dallas-based Meridian Realty Advisors, in the transaction.

January 25, 2018

Hospitality Texas

Partnership Acquires 118-Room Marriott-Branded Hotel in Greater Dallas

by Taylor Williams January 25, 2018

LEWISVILLE, TEXAS — A partnership between Baltimore-based Alex. Brown Realty Inc. and Dallas-based TCOR Hotel Partners has acquired the 188-room TownePlace Suites by Marriott hotel in Lewisville, a northern suburb of Dallas. The hotel recently underwent a $1 million renovation, which included upgrades to the lobby and guestrooms. Dallas-based Inwood National Bank provided financing for the acquisition. The seller and sales price were not disclosed.

January 25, 2018

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