Property Type

Stream Negotiates 15,198 SF in Office Leases in Dallas

by Taylor Williams September 20, 2017

DALLAS — Stream Realty Partners has negotiated two office leases totaling 15,198 square feet at 5050 Quorum Drive in Dallas. Ryan Evanich, Chase Lopez and Jackie Smith of Stream represented the landlord, New York-based DRA Advisors, in its lease negotiations with the new tenants, Josh DeShong Real Estate and law firm Pratt, Aycock & Associates PLLC. The two firms will occupy the sixth floor of the building, which DRA Advisors recently renovated to feature an on-site fitness center, conference center and a tenant lounge.

September 20, 2017

SunTrust Provides $18M Construction Loan for Seniors Housing Expansion in Culpeper, Virginia

by Camren Skelton September 20, 2017

CULPEPER, VA. — SunTrust Bank has provided an $18 million construction loan for the 125,000-square-foot expansion of The Culpeper, a retirement community in Culpeper, a town situated equidistant from Richmond, Va., and Washington, D.C. LifeSpire of Virginia, a provider of continuing care retirement communities, will build 133 new units in the community and offer additional care services to current and future residents. The updated Culpeper community will replace the previous building, originally built in 1951, with 54 assisted living, 32 memory care and 47 skilled nursing units. Other enhancements to the community will include an outdoor courtyard, cook-to-order dining options, an on-site clinic, chapel, on-site physical therapy, wellness gym and a health and beauty spa.

September 20, 2017

Industrial Texas

Titan Developers Acquires 25,000 SF Flex Property in Metro Austin

by Taylor Williams September 20, 2017

CEDAR PARK, TEXAS — Titan Developers has acquired a 25,000-square-foot office/industrial property within Scottsdale Crossing Phase III, located at 1505 Volta Drive in the Austin metro of Cedar Park. Matt Levin of Equitable Commercial Realty (ECR) represented Titan in the transaction. The seller, TIG, was represented internally by Tom Pardee.

September 20, 2017

Industrial Kentucky Southeast

Hillwood, Al. Neyer to Deliver 1.7 MSF Industrial Development in Northern Kentucky

by Camren Skelton September 20, 2017

ERLANGER, KY. — Hillwood, in partnership with Cincinnati-based developer Al. Neyer, has unveiled plans to develop Erlanger Commerce Center, a distribution center that will include two speculative buildings totaling more than 1.7 million square feet. Situated at the intersection of Interstates 75 and 275 in Erlanger, the property is located a few miles from the Cincinnati/Northern Kentucky International Airport. Construction on Building 1, totaling 779,922 square feet, will begin in 2018. The building will feature 36-foot clear heights, ESFR sprinkler systems, cross-dock configuration, 159 trailer storage spaces and 350 car parking spaces.

September 20, 2017

Industrial Midwest Ohio

Monmouth Acquires 298,472 SF Industrial Building in Kenton, Ohio for $18M

by Kristin Harlow September 20, 2017

KENTON, OHIO — Monmouth Real Estate Investment Corp. has acquired a new 298,472-square-foot industrial building in Kenton for $18 million. The property is located on 46 acres at 2465 Fontaine St., approximately 28 miles south of Findlay. The building is net leased to International Paper Co., a paper and packaging manufacturer, for 10 years. The building has full rail access and is adjacent to one of International Paper Co.’s manufacturing plants.

September 20, 2017

Indiana Loans Midwest Multifamily

CBRE Arranges $15M Refinancing for Apartment Property in Indianapolis

by Kristin Harlow September 20, 2017

INDIANAPOLIS — CBRE has arranged a $15 million Freddie Mac loan for the refinancing of Marina Apartments in Indianapolis. The apartment property, built in 1980, consists of 348 units. Jason Brown and Dan Gable of CBRE arranged the 10-year loan on behalf of the borrower, Zidan Management Group. The loan features a 30-year amortization schedule and a fixed interest rate of 4.2 percent.

September 20, 2017

Industrial Kansas Midwest

Opus Begins Construction of 230,122 SF Industrial Building in Olathe, Kansas

by Kristin Harlow September 20, 2017

OLATHE, KAN. — The Opus Group has broken ground on the second building at 56 Commerce Center in Olathe. The 230,122-square-foot industrial building will feature a 32-foot clear height, a front parking lot and a rear truck court. The location offers access to major interstates such as I-35, I-435 and I-49. The project is slated for completion in May 2018. This is the second phase of construction at 56 Commerce Center, a master-planned industrial development on 53 acres. The site can house up to three buildings totaling 505,000 square feet. Opus Development Co. is the developer, Opus Design Build is the design-builder and Opus AE Group is the architect and structural engineer for the project. Joe Orscheln and Mike Mitchelson of CBRE are marketing the property for lease.

September 20, 2017

Midwest Missouri Retail

Knoebel Construction Breaks Ground on $5M Grocery Store in St. Peters, Missouri

by Kristin Harlow September 20, 2017

ST. PETERS, MO. — Knoebel Construction has broken ground on a new Fresh Thyme Farmers Market in St. Peters, about 30 miles west of St. Louis. The $5 million project is slated for completion in winter 2018. Approximately 95 people will work at the 28,720-square-foot store. InSite Real Estate is developing the property. NORR is providing architectural services. Fresh Thyme is a specialty grocer rapidly expanding in the Midwest with other St. Louis-area stores in Kirkwood, Ballwin and O’Fallon, Mo.

September 20, 2017

Loans Massachusetts Mixed-Use Multifamily Northeast Retail

Cornerstone Realty Capital Arranges $38.5M in Financing for Mixed-Use Development in Boston

by Amy Works September 20, 2017

BOSTON — Cornerstone Realty Capital has arranged $38.5 million in financing for Mount Vernon Co.’s development of a mixed-use building, located at the intersection of Western Avenue and Leo M Birmingham Parkway in Boston’s Brighton neighborhood. Cornerstone secured the fixed-rate financing structure, including an interest-only period during construction followed by a 30-year amortization schedule. The six-story building will feature parking for 108 vehicles; three on-street retail spaces totaling 4,578 square feet; residential amenity space, including a rooftop multipurpose room and fitness center; storage for 132 bicycles; 115 market-rate apartments; and 17 affordable apartments. The unit mix includes 53 studios, 43 one-bedroom/one-bath units, 16 one-bedroom/one-bath units with a den and 20 two-bedroom/two-bath units. Ranging from 520 square feet to 906 square feet, the units will feature vinyl plank and tile flooring, Silestone countertops, tile backsplashes, stainless steel appliances and in-unit washers and dryers.

September 20, 2017

Affordable Housing Multifamily New York Northeast

WinnCompanies Completes $19.3M Rehabilitation of Affordable Housing Community in Malone, New York

by Amy Works September 20, 2017

MALONE, N.Y. — WinnCompanies has completed the $19.3 million rehabilitation of The Trails at Malone, an affordable housing community in Malone. The project included the modernization of the units’ kitchens, bathrooms, wiring, heating and cooling systems, handicapped accessibility, exteriors, community room, playgrounds, security systems and landscaping. The 128-unit property comprises 26 two-story apartment buildings totaling 116,620 square feet. Of the 128 units, 100 are low-income housing tax credit units for residents earning 60 percent of area median income (AMI) or less. The property features 38 one-bedroom, 65 two-bedroom and 25 three-bedroom units. DiMarco Construction served as general contractor and The Architectural Team provided architectural services for the project. WinnResidential is managing the community.

September 20, 2017

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