Property Type

rh-austin-the-gallery-at-the-domain-texas

Restoration Hardware Unveils RH Austin, The Gallery at The Domain in Austin

by Haisten Willis September 20, 2016

AUSTIN, TEXAS — Restoration Hardware Holdings Inc. (RH) has opened RH Austin, The Gallery at The Domain at 11720 Domain Blvd. in Austin. The design gallery spans four stories and over 60,000 square feet. The property features installations of home furnishings in a gallery setting, including a floor dedicated to RH Modern with an integrated RH contemporary art gallery. RH Austin also includes an interactive design atelier, which is a workspace that allows customers, designers and architects to conceptualize and customize a home. Architect James Gillam of Backen, Gillam & Kroeger designed the property.

September 20, 2016

CBRE Capital Markets Arranges $32M in Financing for Tollway Towers in Dallas

by Haisten Willis September 20, 2016

DALLAS — CBRE Capital Markets’ debt and structured finance team has arranged debt financing for Tollway Towers, a three-building office asset in Dallas. CBRE arranged the $32 million non-recourse loan on behalf of Champion Partners and CrossHarbor Capital Partners. Tollway Towers comprises two office towers and a garden office building totaling 341,836 square feet. Tollway Towers is located along the Dallas North Tollway, two miles north of I-635. The property was built in 1983 and renovated in 2007. The new ownership plans to invest several million dollars into the buildings for both capital upgrades and a speculative suite program tailored to attracting tenants seeking 750 to 5,000 square feet. Scott Lewis, Greg Greene and Matt Ballard of CBRE’s Dallas office originated and secured financing on behalf of the borrowers.

September 20, 2016

Retail Texas

San Antonio Commercial Advisors Brokers Sale of Two Grocery-Anchored Centers

by Haisten Willis September 20, 2016

SAN ANTONIO — San Antonio Commercial Advisors (SACA), an independently owned and operated member of the Cushman & Wakefield Alliance, has brokered the sale of two grocery-anchored shopping centers located in San Antonio. The first property, located at 3614 Pleasanton Road near its intersection with Formosa Boulevard, spans 30,675 square feet on 2.9 acres. The second property, located at 340 Enrique Barrera Parkway, includes 50,240 square feet on 4.3 acres. Arlan’s Market, a local grocery store chain with 20 locations across south Texas, and Family Dollar anchor both properties. SACA’s Bradley Suttle negotiated the sale on behalf of the seller, 2ML Real Estate Interests Inc., and procured the buyer, a Texas-based investment group.

September 20, 2016

Restaurant Retail Texas

TIC Group Sells Colonnade at West Lake Houston Retail Property

by Haisten Willis September 20, 2016

HOUSTON — A group of 16 tenant-in-common (TIC) investors has sold the Colonnade at West Lake Houston retail development to a local retail investment and development company. The 54,449-square-foot property, located at 18455 Lake Houston Parkway, was 94 percent leased at the time of sale. SONA Colonnades LP, which owns other area retail properties, was the buyer. Chris Dray of NewQuest Properties represented the buyer of the four-building property. The 6.8-acre Colonnade is located near the eastern shore of the 12,000-acre Lake Houston.

September 20, 2016

Office Texas

Trammell Crow Opens Park South YMCA Early Childhood Center in Dallas

by Haisten Willis September 20, 2016

DALLAS — Trammell Crow Co. (TCC), Alliance Architects and Fast-Track Construction have completed an early childhood center for Park South YMCA in Dallas. The project was built on behalf of In The City For Good, a charitable organization that develops food pantries and early childhood education programs for inner city youth. TCC, Alliance and Fast-Track converted an abandoned 2,000-square-foot laundromat into a preschool building that will serve 145 children. The one-story building, located at 3901 Latimer St., features three classrooms. The development team designed built-in shelves for storage, added windows to allow for natural light and painted all the rooms in bright colors to aid in learning.

September 20, 2016

Georgia Industrial Southeast

Duke Realty to Develop 1.4 MSF Distribution Center for Floor & Décor in Savannah

by John Nelson September 20, 2016

SAVANNAH, GA. — Duke Realty Corp. plans to develop a 1.4 million-square-foot, build-to-suit distribution center in Savannah for Floor & Décor, an Atlanta-based retailer that sells hard-surface flooring, countertops, sinks and related accessories. Duke Realty will build the property on 90 acres located within Morgan Business Center between I-16 and I-95. The facility will have truck and rail access to Port of Savannah. Bill Sparks of CBRE represented Floor & Decor in the 1.4 million-square-foot lease transaction, while Duke Realty was represented internally by Brian Sutton. Duke Realty worked with the Savannah Economic Development Authority on the transaction, which represents one of the area’s largest development projects. Duke Realty plans to break ground in November, with Floor & Décor relocating to the new facility in early 2018.

September 20, 2016

District of Columbia Retail Southeast Virginia

Saks Fifth Avenue OFF 5TH Expands Footprint in Greater D.C. Area

by John Nelson September 20, 2016

SPRINGFIELD, VA. AND WASHINGTON, D.C. — Saks Fifth Avenue OFF 5TH has two locations opening in the metro Washington, D.C., area within a week of each other. The new locations total more than 60,000 square feet. The retailer has opened a two-level, 30,000-square-foot store at Springfield Town Center in Springfield, with plans to open a 33,000-square-foot store at 555 12th St. N.W. in Washington, D.C., this week. The Springfield store is the first Saks OFF 5TH to open in northern Virginia and the first in PREIT’s portfolio. The D.C. store will open on Thursday within the historic Thurman Arnold Building. According to Jonathan Greller, president of Saks OFF 5TH, there will be two more locations opening in the Mid-Atlantic region in October.

September 20, 2016

Florida Industrial Southeast

Meridian Breaks Ground on 237,000 SF Industrial Facility in South Florida

by John Nelson September 20, 2016

HOMESTEAD, FLA. — Meridian Design Build has begun construction on a 237,000-square-foot package sortation and distribution center in South Florida. The property will be located on a 40.5-acre lot at the intersection of S.W. 127th Avenue and S.W. 272nd Street in Homestead. The project will be developed by SunCap Property Group as a build-to-suit for an unnamed provider of global shipping and information services. The property will feature 63 loading docks, seven drive-in doors, a freestanding gateway building, 180 interior van loading positions, 431 parking spaces, a 125-stall trailer storage yard and 8,270 square feet of office space. The design team includes architect Ware Malcomb and civil engineer Langan.

September 20, 2016

Florida Loans Multifamily Southeast

NorthMarq Capital Arranges $35M Refinancing of Apartment Community in Tampa Bay Area

by John Nelson September 20, 2016

LARGO, FLA. — NorthMarq Capital has arranged the $35 million refinancing of The Boulevard Apartments, a 260-unit apartment community located at 2098 Seminole Blvd. in Largo, a city in the Tampa Bay area. Larry Curry of NorthMarq Capital’s Tampa office arranged the 10-year loan with four years of interest-only payments followed by a 30-year amortization schedule through an unnamed life insurance company.

September 20, 2016

Affordable Housing District of Columbia Loans Multifamily Southeast

D.C. Housing Finance Agency Provides $21.6M Financing for Affordable Housing Community

by John Nelson September 20, 2016

WASHINGTON, D.C. — The District of Columbia Housing Finance Agency (DCHFA) has provided $21.6 million in bonds for the acquisition and construction for The Beacon Center, an affordable housing complex in Washington, D.C. The project is a redevelopment of the historic Emory United Methodist church now standing at 6100 Georgia Ave. N.W. in D.C.’s Brightwood neighborhood. The financing comprises $14.3 million in short-term bonds and $7.3 million long-term. The $42.5 million development will include sanctuary space for Emory United Methodist and 99 units of affordable housing reserved for renters earning 60 percent or less of the area median income (AMI). In addition to the DCHFA issued bonds, The Beacon Center will be financed by a combination of $16 million of equity raised through the syndication of low income housing tax credits (LIHTCs) by Red Stone Equity Partners, a $17.2 million loan from the D.C. Department of Housing and Community Development’s Housing Production Trust Fund and $900,000 of Neighborhood Investment Funds administered by the Office of the Deputy Mayor for Planning and Economic Development. The District’s Local Rent Supplement Program will be used to provide rental assistance for eight permanent supportive housing units within The Beacon Center reserved for formerly homeless …

September 20, 2016

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