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HospitalityMultifamilyTexas

WaterWalk Breaks Ground on Hybrid Extended-Stay Hotel, Apartment Project in Irving

by Katie Sloan

IRVING, TEXAS — WaterWalk Hotel Apartments has broken ground on WaterWalk Las Colinas, located adjacent to DFW Airport at George Bush Turnpike and West Royal Lane in Irving. WaterWalk Las Colinas will feature 153 units across two buildings and is expected to open by Memorial Day of 2018. The franchised property is owned by a group of investors based in Wichita, Kan., and led by Allan Dunne, owner and manager of Dunne Investments and Dunne Property Co. The Law Company is the general contractor on the project, and LK Architecture is the architect. Both companies are also based in Wichita. WaterWalk combines the features of an upscale extended-stay hotel with the lifestyle of apartment living. Guests may choose to stay a day, a week, a month, a year, or longer with one all-inclusive bill for utilities, DirecTV with 300 channels and premium channels, DVR, Internet, phone, gym facility and 24/7 concierge services. With the full-service package, guests receive fully furnished accommodations, housekeeping and a complimentary breakfast delivered to the suite. The Dunne group has committed to developing 10 to 15 additional WaterWalk franchises over the next few years. WaterWalk Las Colinas is the investment group’s second project in Texas. Jack …

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RetailTexas

Joint Venture Sells Grocery-Anchored Shopping Center in Fort Worth for $15M

by Katie Sloan

FORT WORTH, TEXAS — A joint venture between GHP Office Realty and RD Management has sold a 136,000-square-foot shopping center anchored by Albertsons, located in Fort Worth, for $15 million. The property was 98 percent occupied at the time of sale by tenants including Cook Children’s Health Foundation, Dollar General, Ace Hardware and Subway. The buyer was undisclosed.

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IndustrialTexas

NAI Partners Brokers Lease Renewal for 43,298 SF Industrial Warehouse in Houston

by Katie Sloan

HOUSTON, TEXAS — NAI Partners has brokered the lease renewal of a 43,298-square-foot industrial warehouse located at 4310 Campbell Road in Houston. John Ferruzzo and Chris Kugle of NAI Partners represented the tenant, Mascorp Ltd., and Steve Hazel of Insite Realty represented the landlord, Cabot, in the leasing transaction.

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RetailTexas

IHOP to Open at Brazos Town Center in Metro Houston

by Katie Sloan

ROSENBERG, TEXAS — IHOP is set to open a 4,588-square-foot restaurant at Brazos Town Center, a 1.8 million-square-foot shopping center located roughly 35 miles west of Houston in Rosenberg. Bob Conwell of NewQuest Properties represented the undisclosed landlord, and Jon Kantalis of SDI Realty represented the tenant in the leasing transaction. An opening date for the IHOP has yet to be announced.

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GeorgiaIndustrialLoansSoutheast

Berkeley Partners Receives $22.5M Loan for Refinancing of 20-Building Industrial Portfolio in Atlanta MSA

by Jeff Shaw

NORCROSS, GA. — Berkeley Partners has received a $22.5 million loan for the refinancing of a five-property, 20-building industrial portfolio in Norcross. Totaling 605,274 square feet, the portfolio comprises six buildings in Gwinnett Gateway (1710 Wilwat Drive); three buildings in Gateway Business Park I (6500 McDonough Drive); five buildings in Gateway Business Park II (6000 Dawson Blvd.); and five buildings in Atlantic Business Center (6400 Atlantic Blvd.), all of which are located in Norcross in the Northeast Atlanta industrial submarket. Additionally, the portfolio includes the one-building Five Points Business Center (1600 Roswell St. Southeast), which is located in the Northwest Atlanta industrial submarket. The properties are leased to 150 tenants. HFF arranged the five-year loan with a regional bank. Jeff Sause, Kevin Mackenzie and Gregg Shapiro of HFF represented Berkeley Partners in the loan transaction.

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Sheraton Atlanta
GeorgiaHospitalitySoutheast

Arden Group Acquires Sheraton Hotel in Atlanta, Plans $7M in Renovations

by Jeff Shaw

ATLANTA — Arden Group, through its affiliate Arden Real Estate Partners II, has acquired the Sheraton Atlanta Hotel for an undisclosed price. The recently renovated, 763-room hotel includes over 100,000 square feet of event and meeting space, as well as an indoor-outdoor swimming pool, garden courtyard with retractable glass roof, fitness center, business center and two restaurants. Arden plans to invest $7 million in renovations to the hotel, which will add to the $15 million that the previous owners completed in 2016. JLL arranged the sale. HEI Hotels & Resorts will manage the property.

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FloridaIndustrialSoutheast

Berger Arranges 53,139 SF Industrial Lease for Pharmaceutical Logistics Company in Boca Raton, Florida

by Jeff Shaw

BOCA RATON, FLA. — Berger Commercial Realty/CORFAC International has arranged a 53,139-square-foot industrial lease for a pharmaceutical logistics company in Boca Raton. WDSrx-Woodfield Distribution LLC will occupy the space at 6500 Park of Commerce Blvd. The 83,000-square-foot building offers 24-foot clear heights, dock loading areas and access to I-95. Exeter 6500-6500 Park of Commerce LLC owns the property. Michael Feuerman of Berger arranged the lease on behalf of WDSrx, which operates facilities in Boca Raton, Pompano Beach and Sugar Land, Texas. This will be the company’s second location in Boca Raton.

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FloridaGeorgiaRetailSoutheast

Studio Movie Grill To Add Locations in Florida, Georgia

by Jeff Shaw

SEMINOLE, FLA., AND MARIETTA, GA. — Studio Movie Grill, a dine-in theater chain, has planned two new locations in the Southeast: in the Tampa suburb of Seminole and the Atlanta suburb of Marietta. Both locations are scheduled to open before the end of 2017. Studio Movie Grill offers food, beer, wine and spirits while screening movies, concerts, sporting events and promotions. The company currently has 24 locations in nine states.

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GeorgiaOfficeSoutheast

Cushman & Wakefield Negotiates 23,222 SF Lease in Midtown Atlanta

by Jeff Shaw

ATLANTA — Cushman & Wakefield represented NorthPoint Executive Suites in signing a 23,222-square-foot lease to occupy a full floor at One Atlantic Center located in Atlanta’s Midtown submarket. Cushman & Wakefield’s Boris Garbuz represented NorthPoint Executive Suites in the transaction. NorthPoint Executive Suites will offer upscale executive office suites and conference rooms, targeting attorneys and other professional services.

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KansasMidwestMixed-Use

ESS, Lane 4 Break Ground on $60M Mixed-Use Development in Edwardsville, Kansas

by Kristin Harlow

EDWARDSVILLE, KAN. — Emery Sapp & Sons (ESS) and Lane 4 Property Group have broken ground on the $60 million Village South development in Edwardsville. The 32-acre site is located at the corner of 110th Street and I-70. The mixed-use project will include both a Holiday Inn and La Quinta hotel in addition to a 22,000-square-foot conference center and 17,000 square feet of retail space. Six additional pad sites will be available for retail uses. Minnesota-based Compass Commodity Group III is the landowner and master developer. Lane 4 is managing the first phase of construction, while ESS is doing all of the earthwork. Other members of the development team include BHC Rhodes as project engineer, Lamont Cos. as hospitality developer, Base4 Architects and Engineers as design partner and Polsinelli PC as legal counsel. Phase I construction is slated for completion in summer 2018.

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