Property Type

EagleBridge Capital Arranges $3.5M Financing for Retail Property in Milford, Massachusetts

by Haisten Willis May 25, 2017

MILFORD, MASS. — Ted Sidel and Brian Sheehan of EagleBridge Capital have arranged $3.5 million in permanent mortgage financing to refinance Milford South Plaza in Milford. A Massachusetts-based thrift institution was the lender. The property is a 44,270-square-foot retail plaza with 237 parking spaces on 5.1 acres. Milford South Plaza is located at 146 S. Main St. The plaza is 100 percent leased to four tenants including Big Lots, Dollar Tree, The Milford National Bank and Dunkinâ€™ Donuts. An affiliate of Summit Realty Partners manages the property.

May 25, 2017

Industrial Texas

White Construction Completes 420,000 SF Distribution Center in Austin

by Taylor Williams May 25, 2017

AUSTIN, TEXAS — White Construction Co. has completed a 420,000-square-foot distribution center in Austin for Capitol Wright Distributing, a Texas-based beverage distributor. The cross-dock facility features concrete tilt-up walls and high-performance glass with aluminum solar awnings. HDA Architects designed the project.

May 25, 2017

Loans Retail Texas

Q10 KDH Arranges $16M in Financing for Class A Shopping Center in Houston

by Taylor Williams May 25, 2017

HOUSTON — Q10 KDH has arranged $16 million in permanent financing for Cypress Creek Plaza, a Class A shopping center in northwest Houston. The center is shadow-anchored by H-E-B and contains 51,034 square feet of net rentable space across three buildings and three ground-leased pad sites leased to Wendy’s, Zaxby’s and Chase Bank. Thrivent Financial provided the 10-year loan, which features a 30-year amortization schedule and a fixed sub-4 percent interest rate.

May 25, 2017

Office Texas

Notley Ventures Begins Leasing 60,000 SF Social Innovation Center in Austin

by Taylor Williams May 25, 2017

AUSTIN, TEXAS — Notley Ventures has begun leasing The Center for Social Innovation, a 60,000-square-foot office campus within the Springdale General complex in Austin. Located at 1023 Springdale Road, the center consists of 50,000 square feet of office space and 10,000 square feet of co-working space. Central Austin Management Group served as the primary developer of the project.

May 25, 2017

Multifamily North Carolina Southeast

Continental Realty Purchases Apartment Community in Raleigh for $61M

by John Nelson May 25, 2017

RALEIGH, N.C. — Continental Realty Corp. has acquired The Edison Lofts, a 223-unit apartment community located at 131 E. Davie St. in Raleigh. The Baltimore-based firm purchased the asset from The NRP Group for $61 million. Sean Wood of ARA Newmark’s Charlotte office brokered the off-market transaction. Built in 2016 by NRP, The Edison Lofts is a seven-story midrise community featuring studio, one- and two-bedroom apartments ranging in size from 550 to 1,870 square feet. Community amenities include a garden courtyard, resort-style swimming pool, outdoor kitchen and grilling area, dog park, fitness center and clubroom with a resident lounge and billiards room. A direct access structured parking garage is available for both The Edison Lofts residents and visitors.

May 25, 2017

Georgia Industrial Southeast

CT Realty, PGIM, River Oaks to Develop 3.5 MSF Industrial Park in Atlanta

by John Nelson May 25, 2017

ATLANTA — CT Realty, through its affiliate Port Logistics Realty, and joint venture partners PGIM Real Estate and River Oaks Capital Partners have purchased 213 acres of land in Atlanta for the development of Palmetto Logistics Park, a 3.5-million-square-foot industrial park. The joint venture also has a purchase option on an adjacent 145 acres. Situated across from a CSX intermodal facility and near Interstate 85, Palmetto Logistics Park will be built in three phases with buildings ranging in size from 1 million square feet to 1.5 million square feet. Fifth Third Bank will provide construction financing for the first phase building of Palmetto Logistics Park. Ben Logue and Price Weaver of Colliers International’s Atlanta office will handle the park’s leasing assignment. No timeline for groundbreaking or delivery was disclosed. Dallas-based Port Logistics Realty is a partnership between CT Realty and Xebec Realty, two Southern California-based industrial development firms.

May 25, 2017

Georgia Retail Southeast

Banyan Street Capital to Redevelop Retail Portion of Peachtree Center in Atlanta

by John Nelson May 25, 2017

ATLANTA — Miami-based Banyan Street Capital plans to implement large-scale renovations to the retail portion of Peachtree Center, a mixed-use, transit-oriented development located in downtown Atlanta. Situated over the underground Peachtree Center MARTA station, Peachtree Center comprises six office towers, three hotels, three parking garages and the Mall at Peachtree Center. Amy Fingerhut and Sara Pepper of CBRE have been tapped to lease the redeveloped retail center, which is currently home to over 50 restaurants, retailers and service tenants. Along with the addition of new restaurants and shops, renovations to the center will include changes to the indoor mall area and outdoor courtyard. Construction is set to begin this summer. Beck is serving as the architect on the project.

May 25, 2017

Florida Multifamily Southeast

Avesta Acquires Two Apartment Communities in Metro Orlando for $32M

by John Nelson May 25, 2017

ALTAMONTE SPRINGS, FLA. — Avesta has purchased two apartment communities in Altamonte Springs, about 11 miles north of Orlando, for a combined $32 million. Avesta has rebranded and operationally merged the two assets, known as Altamonte Villas and Palms at Altamonte, as East Pointe at Altamonte. Totaling 354 units, East Pointe at Altamonte features a mix of one- and two-bedroom apartments and townhomes. Community amenities include two swimming pools, a fitness center, sports court, dog park, central laundry facilities and select covered parking. Avesta will invest $5 million to renovate and upgrade the community’s interiors, exteriors and amenities.

May 25, 2017

Illinois Midwest Multifamily

Kiser Group Brokers $29M Sale of Multifamily Portfolio in Chicago

by Kristin Harlow May 25, 2017

CHICAGO — Kiser Group has brokered the sale of a multifamily portfolio on Chicago’s south side for $29 million. The portfolio consists of 21 buildings and 370 units. The properties, which include studios, one-, two-, three- and four-bedroom units, are largely located in Washington Park, East Woodlawn and South Shore. WPD Management sold the portfolio in order to take advantage of high demand and growing interest in the South Side neighborhoods. Noah Birk and Broker Aaron Sklar of Kiser brokered the transaction.

May 25, 2017

Michigan Midwest Office

Little Caesars Tops Off New Headquarters in Detroit

by Kristin Harlow May 25, 2017

DETROIT — Local ironworkers constructing the Little Caesars world headquarters campus extension in Detroit held a topping out ceremony on Tuesday. Workers signed their names, attached banners, flags and an evergreen tree to structural steel beams that were hoisted into place. A Little Caesars mascot was also along for the ride. Led by contractor Brinker-Christman JV and designed by SmithGroupJJR, the nine-story, 234,000-square-foot building is located at the corner of Woodward Avenue and Columbia Street. The $150 million project will anchor The District Detroit’s Columbia Street neighborhood. The new headquarters, located approximately one mile from Little Caesars Arena, is slated to open in 2018.

May 25, 2017

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