Property Type

The Traina Cos. Receive Approval for 1.3 MSF Mixed-Use Development in Downtown Fort Lauderdale

by Camren Skelton July 13, 2017

FORT LAUDERDALE, FLA. — The Traina Cos. has received final zoning approval from the Fort Lauderdale City Commissioners for FATcity (Florida Arts and Technology), a 1.3 million-square-foot mixed-use development located at 300 N. Andrews Ave. in downtown Fort Lauderdale. Situated in the City Center (RAC-CC) Special Zoning District, FATcity will include two 30-story towers featuring 270,000 square feet of office and retail space with the potential for hospitality space, 612 residential units and 1,327 covered parking spaces. The development will connect the city’s Central Business District and Arts Districts through pedestrian-oriented streets, access to Brightline’s high-speed rail station and a Wave Streetcar stop on-site. FATcity marks the first new Class A office space developed in Fort Lauderdale in over a decade. Groundbreaking on the project is estimated for late 2018 or early 2019.

July 13, 2017

Industrial South Carolina Southeast

Ridge Breaks Ground on 686,300 SF Industrial Project at Charleston Logistics Center

by Camren Skelton July 13, 2017

JEDBURG, S.C. — Ridge, the industrial division of Transwestern Development Co., has broken ground on two industrial buildings totaling 686,300 square feet of speculative space in Jedburg, roughly 30 miles northwest of Charleston. Located within Charleston Logistics Center, the two Class A buildings will feature 32-foot clear heights, 54-by-48-foot column spacing, a 60-foot staging bay, ESFR sprinkler systems, 64 dock doors, two drive-in doors, 202 car parking spaces and 76 truck parking spaces. The two buildings are slated for delivery in the first quarter of 2018. Simons Johnson and Peter Fennelly of Colliers International will handle leasing of the properties.

July 13, 2017

Retail Southeast West Virginia

Heidenberg, Strategic Real Estate Acquire Shopping Center in West Virginia for $35.9M

by Camren Skelton July 13, 2017

RANSON, W.VA. — A joint venture between Heidenberg Properties Group and Strategic Real Estate Partners has purchased The Potomac Marketplace, a 370,000-square-foot shopping center located along Route 9 in Ranson. The property was 92 percent leased at the time of sale to tenants including Weis Supermarket, Kohl’s, Petco and The Home Depot. The Potomac Marketplace is also home to restaurants including Panera Bread, Dunkin’ Donuts, Glory Days Grill, California Tortilla, Roy Rogers and John’s Café. This purchase marks the joint venture’s sixth acquisition overall and third since November 2016.

July 13, 2017

Maryland Office Southeast

JBG Smith to Relocate Headquarters to 300,000 SF Planned Office Building in Bethesda

by Camren Skelton July 13, 2017

BETHESDA, MD. — JBG Smith, the REIT formed from the merger of The JBG Cos. and Vornado Realty Trust, will relocate its corporate headquarters to 4747 Bethesda Ave., a 300,000-square-foot office building being developed by JBG in downtown Bethesda. The building is slated for completion in the third quarter of 2019. JBG Smith will be the initial anchor tenant of the Class A building, occupying 95,000 square feet of space on the lower floors. The company will move from 4445 Willard Ave. in Chevy Chase, Md.

July 13, 2017

Mixed-Use North Carolina Southeast

Crescent Communities Unveils Plans for Mixed-Use Development in Charlotte

by Camren Skelton July 13, 2017

CHARLOTTE, N.C. — Crescent Communities has unveiled plans for Crescent Montford Park, a mixed-use community in south Charlotte’s Montford Park neighborhood. The project will be developed at the site of the former Pfeiffer University Charlotte and will feature 337 apartments and 17,000 square feet of retail space. Atlanta-based Fortune-Johnson is the community’s general contractor, Charlotte-based LandDesign is the civil engineer and KTGY Architecture is leading the development’s design. Interiors for the community were designed by Vignette Interior Design. Adam Williams of Legacy Real Estate Advisors will manage retail leasing of the property, which is slated for completion in spring 2019.

July 13, 2017

Mixed-Use Texas

Criterion Breaks Ground on 322,000 SF Mixed-Use Project in Fort Worth

by Taylor Williams July 13, 2017

FORT WORTH, TEXAS — Criterion Property Co. LP has broken ground on The River East, a 322,000-square-foot mixed-use project situated on 2.5 acres at 2900 Race St. in Fort Worth. The project will deliver a 181-unit apartment tower, with units ranging in size from 600 to 1,331 square feet, as well as 3,000 square feet of retail and restaurant space, according to The Dallas Business Journal. A timetable for completion has not yet been established.

July 13, 2017

Hospitality Retail Texas

Mansour Group Brokers Sale of Net Leased Hotel, Retail Condos in San Antonio

by Taylor Williams July 13, 2017

SAN ANTONIO — The Mansour Group at Marcus & Millichap has brokered the sale of Hotel Valencia and Retail Net Leased Condos in the River Walk area of San Antonio. The hotel property and accompanying retail condos are located at 150 E. Houston St. The property was leased to The Valencia Group on a long-term NNN lease. The Mansour Group represented the seller, GrayStreet Partners, in the transaction. An out-of-state private investor purchased the asset.

July 13, 2017

Retail Texas

CBRE Negotiates Sale of 104,022 SF Shopping Center in Norman

by Taylor Williams July 13, 2017

NORMAN, OKLA. — CBRE has negotiated the sale of Colonial Estates, a 104,022-square-foot shopping center located at the intersection of Lindsey Street and 12th Avenue in Norman. The property was 88 percent leased at the time of sale to tenants such as CitiTrends, Dollar General and Rent-a-Center. Jason Little, Justin Brannon, Mark Inman, Stuart Graham and Ryan Storer of CBRE represented the seller in the transaction. Waco-based Hoppenstein Properties Inc. purchased the asset for an undisclosed price.

July 13, 2017

Loans Multifamily Texas

LMI Capital Secures $16.2M in Financing for Three Multifamily Properties in Houston Area

by Taylor Williams July 13, 2017

HOUSTON — LMI Capital has arranged $16.2 million in financing for a trio of multifamily properties totaling 418 units at locations in the greater Houston area, including the Baytown, Aldine and Galveston County submarkets. Brandon Brown and Jamie Mullin of LMI arranged the loans, all of which featured sub-4.8 percent interest rates and were financed through agency and CMBS lenders. The borrowers in all three transactions requested anonymity.

July 13, 2017

Healthcare Texas

Colliers Arranges Sale of Two Healthcare Facilities in Metro Houston

by Taylor Williams July 13, 2017

LEAGUE CITY AND THE WOODLANDS, TEXAS — Colliers International has arranged the sale of two healthcare facilities in metro Houston. Beth Young of Colliers represented the seller in the disposition of South Shore Surgicenter, a 7,365-square-foot ambulatory surgical center and diagnostic clinic located at 2622 Marina Bay Drive in League City. Elena Bakina of Colliers represented Integra Plaza LLC in its sale of a 14,573-square-foot medical office and surgery center located at 3072 College Park Drive in The Woodlands. Sales prices were not disclosed for either transaction.

July 13, 2017

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