Property Type

Hanley Investment Arranges $2.3M Sale of Retail Center in Metro Phoenix

by Nellie Day August 10, 2016

LAVEEN, ARIZ. — Hanley Investment Group Real Estate Advisors has arranged the $2.3 million sale of 51st & Southern, a 15,498-square-foot retail property located eight miles southwest of downtown Phoenix in Laveen. The property was 92 percent occupied at the time of sale by tenants including Carniceria Mi Ranchito Market, MetroPCS, Kabob Express and Smoothie Run. The center was built in 2008, and is shadow-anchored by Burger King. Eric Wohl of Hanley Investment represented the seller, an undisclosed, Scottsdale-based private investment company. Jenette Bennett of Kidder Mathews represented the buyer, a Canadian private investor.

August 10, 2016

Office Texas

The Wedge Group Completes $10M Renovation of 43-Story Office Tower in Houston

by Haisten Willis August 10, 2016

HOUSTON — The Wedge Group has completed the $10 million capital improvement campaign at 1415 Louisiana, a 43-story, Class A office tower located in Houston’s central business district. Updates to the property include a new main lobby with Italian stone, new building entry and canopy and updated monument signage. The renovated lobby features a custom glass wall designed by architectural glass artist Paul Housberg. Elevator cabs in the tunnel-connected Clay Street parking garage were also refinished. Built in 1983 and last renovated in 1993, the tower spans 520,000 square feet. On-site amenities include a deli, 200-person conference facility and executive dining with The 43rd Restaurant. The Wedge Group, a private equity investment firm specializing in acquisition investments, owns 1415 Louisiana, which has 170,000 square feet of office space available. Chip Colvill, Connor Saxe and Vince Strake of Colvill Office Properties lead the leasing effort on behalf of WEDGE Group, while Hines manages the facility.

August 10, 2016

Multifamily Texas

Morgan Opens Pearl Washington Apartments Near Houston Heights

by Haisten Willis August 10, 2016

HOUSTON — Morgan has opened Pearl Washington, an apartment development in Houston. The midrise property is located at the corner of Washington Avenue and T.C. Jester Boulevard near Memorial Park and the Houston Heights neighborhood. Pearl Washington contains five stories, with 322 one-, two- and three-bedroom units over two levels of garage parking. All units, which range from 652 square feet to 1,443 square feet, include balconies. Amenities include a swimming pool with cabanas and a sun deck overlooking Washington Avenue. In addition, there are two courtyards with hammock swings, a bocce ball court, grilling areas and a dog park. The community was co-developed with LCB Holdings Inc., and Wells Fargo provided the construction financing.

August 10, 2016

Multifamily Texas

Olympus Property Acquires Two Multifamily Assets in Metroplex

by Haisten Willis August 10, 2016

SACHSE AND FORT WORTH, TEXAS — Olympus Property has acquired Mansions at Woodbridge (renamed Olympus Woodbridge) in Sachse and The Davis in Fort Worth. Built in 2014, the 381-unit Olympus Woodbridge is a garden-style community situated on 18 acres. Olympus Woodbridge is the final property to be added to Olympus Property’s fifth fund. Completed in 2016, The Davis is a garden-style community with 392 units situated on 23 acres. Olympus Woodbridge and The Davis are available to accredited investors in WW Olympus Property VI LLC. The Davis will be the first investment for Olympus Property’s sixth fund, WW Olympus Property VI LLC.

August 10, 2016

Office Texas

Triten Tops Out 186,000 SF Office Tower in Houston

by Haisten Willis August 10, 2016

HOUSTON — Triten Real Estate Partners has topped out Lockton Place, an eight-story, 186,000-square-foot office building with a six-story garage in Houston’s Westchase district. The project, which broke ground in March, is 80 percent pre-leased and on track for an early 2017 delivery. Lockton Place features energy-efficient design with a “living wall” of landscaping that helps define an outdoor garage connection and gathering space. The building will house amenities including a café/bar, fitness center, conference room, an eighth-floor penthouse with 10-foot ceilings and an outdoor terrace. The project team includes Ziegler Cooper Architects, Harvey Builders and Kudela Weinhiemer Landscape Architects. Lockton Place is located at 3657 Briarpark Drive.

August 10, 2016

Healthcare Office Texas

M&M Negotiates Sale of 7,000 SF Net-Leased Medical Property

by Haisten Willis August 10, 2016

LAMPASAS, TEXAS — Marcus & Millichap has negotiated the sale of the Fresenius Medical Care facility in Lampasas. The 7,000-square-foot, net-leased property is located at 1202 Central Texas Expressway. Scott Ryan of Marcus & Millichap’s Austin office marketed the property on behalf of the seller, a partnership. Ryan also secured the buyer, a private REIT.

August 10, 2016

Multifamily South Carolina Southeast

Daniel Corp. Cuts Ribbon for $35M Apartment Community in Greenville

by John Nelson August 10, 2016

GREENVILLE, S.C. — Daniel Corp. has held the ribbon cutting ceremony and grand opening of Haywood Reserve, a $35 million multifamily development located in Greenville. Slated for full completion in October, the 292-unit community is currently 25 percent pre-leased. The project will feature one-, two- and three-bedroom floor plans, as well as custom closets, showers with full tile surrounds and frameless glass doors, stainless steel appliances and high-end lighting and plumbing fixtures. Community amenities will include a 5,000-square-foot clubhouse, resort-style saltwater pool with a sundeck, outdoor kitchen, fitness center, pet spa and a dog park. Daniel Corp. is developing Haywood Reserve in partnership with CNL Growth Properties. First Commercial Bank, an affiliate of Synovus Bank, is providing the construction financing. The project team includes Wakefield Beasley and Associates, Hall Engineering, McLeod Landscape Architects and C.F. Evans Construction.

August 10, 2016

Florida Industrial Southeast

PREMIER Design + Build to Construct Two Warehouses in Fort Lauderdale

by John Nelson August 10, 2016

FORT LAUDERDALE, FLA. — Bridge Development Partners LLC has selected PREMIER Design + Build LLC to construct two warehouses in Fort Lauderdale totaling 306,855 square feet. The assets will be located at Sunrise Boulevard and I-95 and offer nearly 400 parking spaces. Both warehouses will feature 32-foot clear heights, 58 truck dock positions, three drive-in doors, ESFR sprinkler systems and TPO roofing systems. Ytiel Lopez is the project manager and Chuck Rugila is the field superintendent from PREMIER Design + Build Group, and RLC Architects is providing architectural services. Samantha Cristiano, Tony Hoover and Larry Genet of CBRE are the leasing agents for the project. Flynn Engineering is the civil engineer, and DDA is providing structural engineering services. PREMIER Design + Build plans to deliver the projects in the spring of 2017.

August 10, 2016

Multifamily South Carolina Southeast

One Eleven Partners Brokers $12.5M Sale of Apartment Community in North Charleston

by John Nelson August 10, 2016

NORTH CHARLESTON, S.C. — One Eleven Partners has brokered the $12.5 million sale of Reserve at Ashley River, a 280-unit apartment complex located in North Charleston. The buyer, The RADCO Cos., purchased the property from Huntington, N.Y.-based URS Capital Partners, which owns three other apartment communities in the Charleston market. Reserve at Ashley River is Atlanta-based RADCO’s first acquisition in the Charleston market. Chirs Yeagle and Kyle Chase of One Eleven brokered the transaction. Built in 1974, the property features a swimming pool, clubhouse with a coffee bar, children’s playground and laundry facilities in each building. One Eleven Partners previously brokered the sale of the property in 2013 for $7.3 million.

August 10, 2016

Loans North Carolina Retail Southeast

Q10 Professional Mortgage Arranges $8.2M CMBS Loan for Market at Wake Forest

by John Nelson August 10, 2016

WAKE FOREST, N.C. — Q10 Professional Mortgage of North Carolina LLC has originated an $8.2 million loan for Market at Wake Forest, a 116,341-square-foot retail center located in Wake Forest. Food Lion anchors the property. Spencer Wilson of Q10 Professional Mortgage originated the non-recourse, permanent loan through an unnamed CMBS lender.

August 10, 2016

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