Property Type

McCord Development Tops Out Multi-Tenant Office Building at Generation Park in Houston

by Amy Works November 17, 2016

HOUSTON — McCord Development has topped out 250 Assay St. in Houston, the first multi-tenant office building in Generation Park’s lifestyle district, Redemption Square. The five-story building will feature 86,523 square feet of space, including 15,000 square feet of ground-level retail and restaurant space. Announced tenants include Apache Industrial Services and McCord Development, which will both relocate their corporate headquarters to the building. The property, which was designed by Page Southerland Page Architects in partnership with McCord, is slated for delivery in June 2017. E.E. Reed is serving as the general contractor for the building.

November 17, 2016

McCathern Law Firm Leases 5,673 SF of Office Space in Frisco

by Amy Works November 17, 2016

FRISCO, TEXAS — McCathern PLLC has signed a 10-year lease of office space at The Star in Frisco, the new Dallas Cowboys World Headquarters and Training Facility. The law firm will occupy 5,673 square feet at One Cowboys Way. Scott Hobbs and Michelle Donaldson of CBRE represented the tenant, while Jack Young of Lincoln Property Co. represented the landlord, Frisco HQ Operations, in the lease negotiations. McCathern currently has offices in Dallas, Houston and Los Angeles.

November 17, 2016

Office Texas

NAI Partners Facilitates Acquisition of 2,600 SF Office Space in Houston

by Amy Works November 17, 2016

HOUSTON — NAI Partners has arranged the acquisition of an office space located on Richmond Avenue in Houston’s Montrose neighborhood. Rob Wiley P.C. purchased the 2,600-square-foot space from WT MAGS LLC for an undisclosed price. Dan Boyles Jr. and Michael Mannella of NAI Partners represented the buyer, while Jane Brennan-Martin of Carnan Properties represented the seller in the deal.

November 17, 2016

Northeast Office Vermont

Nedde Real Estate Brokers Office Lease in Shelburne, Vermont

by Amy Works November 17, 2016

SHELBURNE, VT. — Nedde Real Estate has arranged an office lease at 181 Falls Road in Shelburne. NorthEast Estates and Trusts PLLC and Law Office of Richard J. Fox will occupy 955 square feet at the property. The lease will begin in January 2017 and expire in two years. Fernando Cresta of Nedde Real Estate arranged the lease transaction. The landlord is LaPlatte Partnership.

November 17, 2016

Loans Retail Southeast Virginia

AIG Investments Provides $72M Refinance Loan for Plaza at Landmark in Metro D.C.

by John Nelson November 17, 2016

FAIRFAX, VA. — AIG Investments has provided a $72 million loan for the refinancing of Plaza at Landmark, a 437,299-square-foot, grocery-anchored regional power center located at 6244 Little River Turnpike in Fairfax. Cary Abod and Dana Brome of HFF arranged the 18-year, fixed-rate loan on behalf of the borrower, Landmark HHH LLC. Plaza at Landmark was 98.2 percent leased at the time of financing to tenants such as Shoppers, Marshalls, Ross Dress for Less, LA Fitness, Total Wine & More, Dollar Tree, Verizon Wireless, DFurniture Galleries, BB&T, Five Below, Gamestop and Chipotle Mexican Grill.

November 17, 2016

Maryland Retail Southeast

PREIT Signs Ulta Beauty, DSW as Part of $30M Overhaul of Mall at Prince Georges

by John Nelson November 17, 2016

HYATTSVILLE, MD. — PREIT, a Philadelphia-based retail REIT, has signed Ulta Beauty and DSW to leases at Mall at Prince Georges in Hyattsville as part of the mall’s $30 million remerchandising and renovation program. Located at 3500 East-West Highway in suburban Washington, D.C., the property will undergo a facelift in early 2017 that encompasses new exterior facades and entrances, in addition to PREIT’s remerchandising efforts. Ulta Beauty has leased an 11,000-square-foot space at the mall, and DSW has leased 16,000 square feet. Both retailers are set to open their stores in the second quarter of 2018. PREIT also signed H&M to a 20,000-square-foot lease earlier this year, and the apparel retailer plans to open its store next month. PREIT plans to wrap up the mall’s renovations in time for the 2017 holiday season and complete the remerchandising in 2018, at which time about 73 percent of the non-anchor space — including new and existing shops and restaurants — will have new storefronts.

November 17, 2016

Loans Multifamily South Carolina Southeast

Bellwether Enterprise Closes $26.4M Acquisition Loan for Apartment Community in Columbia

by John Nelson November 17, 2016

COLUMBIA, S.C. — Bellwether Enterprise has closed a $26.4 million loan for the acquisition and rehabilitation of Pavilion Towers, a 240-unit apartment community located on Huger Street in Columbia. The property is situated near downtown Columbia, Finlay Park, the Congaree Vista entertainment district and the Vista Greenway biking and walking trail. The borrower, Vista Towers Columbia LLC, plans to use the loan to fund an $11 million renovation program at the property. The developer, Greenville, S.C.-based Homes Urban, will upgrade the Pavilion Towers’ existing units and convert an adjacent office building into a new community space with 23 additional residences. Matt Good of Bellwether Enterprise arranged the construction/permanent loan through Freddie Mac’s acquisition rehabilitation program.

November 17, 2016

Florida Loans Seniors Housing Southeast

Capital One Secures $14.1M HUD Loan Modification for Assisted Living Facility in South Florida

by John Nelson November 17, 2016

TEQUESTA, FLA. — Capital One has provided a $14.1 million HUD loan modification to Tequesta Terrace, a 100-bed assisted living facility in Tequesta, approximately 90 miles north of Miami. The borrower, Terrace Communities, owns assisted living communities in Vermont, New Hampshire, Maine and Florida. Carolyn Whatley of Capital One’s Palm Beach office originated the loan modification. Capital One previously refinanced an entire portfolio of Terrace communities, but Tequesta Terrace ended up with a slightly higher interest rate than the other properties, leading to the loan modification. Tequesta Terrace was built in 2001 and features 71 assisted living units and 29 memory care beds. The non-recourse, fixed-rate loan has 32 years remaining on the original 35-year, fully amortizing term.

November 17, 2016

North Carolina Retail Southeast

ECHO Realty Acquires Two Harris Teeter-Anchored Shopping Centers in Metro Charlotte

by John Nelson November 17, 2016

HUNTERSVILLE AND CONCORD, N.C. — ECHO Realty has acquired two Harris Teeter-anchored shopping centers located in metro Charlotte. The acquisitions include Regency Village, a 70,000-square-foot center located in the Lake Norman community of Huntersville, and Coddle Creek, an 80,000-square-foot center located in Concord. This acquisition brings ECHO Realty’s presence in North Carolina to six grocery-anchored properties, four of which are located in the Charlotte market.

November 17, 2016

District of Columbia Mixed-Use Southeast Top Stories

National Law Firm, New Hilton Hotel to Anchor $2B Wharf Waterfront Development in D.C.

by John Nelson November 17, 2016

WASHINGTON, D.C. — Hoffman-Madison Waterfront (HMW), the developer of The Wharf, a $2 billion, mile-long neighborhood under construction along Washington, D.C.’s Southwest waterfront, has announced that the development will feature a new Hilton hotel and a new anchor office tenant, global law firm Fish & Richardson. HMW is a partnership between master developers PN Hoffman and Madison Marquette. Situated adjacent to 7th Street Park, Hilton Worldwide will open a 175-room Canopy by Hilton, the first North American hotel for the international brand. The Canopy will join a 238-room Hyatt House at The Wharf. When complete, The Wharf will feature more than 3 million square feet of new residential, office, hotel, retail, marina, and public uses, including waterfront parks, promenades, piers and docks. The development will encompass 24 acres of land and 50 acres of water on the Washington Channel. Phase I is slated to open in October 2017, and Phase II is expected to open between 2020 and 2021. “The Wharf is a truly ideal neighborhood for our Canopy by Hilton brand and we are thrilled to be a part of this amazing project,” says Gary Steffen, global head of Canopy by Hilton. Fish & Richardson, which specializes in global …

November 17, 2016

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