Property Type

KWA Construction Breaks Ground on Oleander Apartments in Fort Worth

by Haisten Willis June 16, 2016

FORT WORTH, TEXAS — KWA Construction has broken ground on Oleander Apartments, a 327-unit multifamily development located in Fort Worth’s hospital district. Dallas-based developer Lang Partners selected KWA to build the 279,114-square-foot apartment complex. Designed by JHP Architects, the project will be built on two city blocks along West Rosedale and Oleander streets and connected by a bridge over Seventh Avenue. Construction will entail connecting a five-story, wood-frame building via a skybridge to another five-story, wood-frame building wrapped around a six-level parking garage. With plans to be connected on the third and fourth floor levels, the bridge will provide a crossover to the apartments’ garage, clubhouse, pool and other shared amenity areas. Rent will range from $1,100 to $2,800 per month. For the project, Lang Partners has received approval for $1.2 million in funding from the local tax increment finance district for public right-of-way and easement improvements, utility work and streetscape improvements. Oleander Apartments is expected to complete construction in summer 2017.

June 16, 2016

Joint Venture to Develop 729-Acre, Master-Planned Community in Frisco

by Haisten Willis June 16, 2016

FRISCO, TEXAS — American Newland Communities and joint venture partner North America Sekisui House (NASH) have acquired 729 acres for a master-planned community in Frisco. The property is located north of the Sam Rayburn Tollway, about 30 miles north of downtown Dallas and five miles east of the Dallas North Tollway. Newland and NASH have completed a due-diligence period with the previous landowners and closed on the purchase June 15. When fully complete, the community will include 1,800 single-family homes and up to 1,400 apartment units, along with retail and office space. Construction will begin later this year, with plans to make the first 253 home sites available for purchase by builders in 2017 with a grand opening in 2018.

June 16, 2016

Multifamily Student Housing Texas

Lincoln Ventures to Develop Student Housing Near the University of Texas at Austin

by Haisten Willis June 16, 2016

AUSTIN, TEXAS — Austin-based developer Lincoln Ventures plans to build a Class A student housing development two blocks west of the University of Texas at Austin campus. The Ruckus, located at 2502 Nueces St., will be a seven-story project totaling 45 units with a mix of two to five bedrooms, totaling 160 beds. Amenities at The Ruckus will include a sky gym/fitness center and terrace, cyber café, gaming area, 24-hour study lounges and conference rooms, package concierge, secure access and parking and a coffee bar. The development will include car-sharing options, such as Zip Car and car-2-go, and a bike-sharing program. Individual units will come fully furnished and offer nine-foot ceilings, high-speed internet, stainless-steel appliances, washers and dryers. Select units will offer views of the UT Tower and downtown Austin.

June 16, 2016

Industrial Texas

Bob Moore Construction to Build Manufacturing Complex in Hillsboro

by Haisten Willis June 16, 2016

HILLSBORO, TEXAS — Bob Moore Construction has been selected to build a manufacturing and distribution complex along with associated infrastructure for Hillsboro IKO, a roofing company. The company’s new complex in Hillsboro will be used to manufacture and distribute roofing materials in the Southwest. The complex will include several buildings spanning more than 250,000 square feet. Site work began in early June.

June 16, 2016

Hospitality Texas

M&M Arranges Sale of 70-Room Hotel in Hillsboro

by Haisten Willis June 16, 2016

HILLSBORO TEXAS — Marcus & Millichap has arranged the sale of Hampton Inn Hillsboro, a 70-room hotel in Hillsboro. Chris Gomes of Marcus & Millichap’s Dallas office, Allan Miller of the firm’s San Antonio office, and Skyler Cooper of the Houston office marketed the property on behalf of the seller, a private investor. Gomes and Miller also procured the buyer, also a private investor. Hampton Inn Hillsboro is located at 102 Dynasty Drive, just east of I-35 near Old Brandon Road. Built in 2007, the three-story hotel features a wood frame, stucco and brick exterior and a flat roof. Amenities include a fitness center, swimming pool, business center, complimentary breakfast bar and 691 square feet of meeting space. Rooms are equipped with a desk, microwave, refrigerator and flat-screen television with cable.

June 16, 2016

Florida Mixed-Use Multifamily Southeast

Suffolk Construction Completes Residential Tower in Downtown Miami

by John Nelson June 16, 2016

MIAMI — Suffolk Construction has completed construction on Monarc, a 462-unit residential tower in downtown Miami developed by MDM Development and ZOM USA. The tower is the residential portion of Met 3, which includes an 11-story retail and parking podium featuring a Whole Foods Market and 1,442 parking spaces. The retail and parking podium has been open since January 2015 and remained fully operational throughout Monarc’s construction. In addition to Met 3, Suffolk is managing several other construction projects in South Florida including the Brightline’s MiamiCentral Station, Jade Signature and Met Square.

June 16, 2016

Florida Multifamily Southeast

IPA Brokers $77M Sale of Apartment Community in Boca Raton

by John Nelson June 16, 2016

BOCA RATON, FLA. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the $77 million sale of Arbor Oaks Apartments, a 360-unit luxury multifamily community located at 9817 Arbor Oaks Lane in Boca Raton. Built in 1995 by Altman Development Corp., the gated complex features a clubhouse and 18 residential buildings surrounding a lake. The property features a mix of one-, two- and three-bedroom apartments, including flats and townhomes. The average unit size is 1,105 square feet. Still Hunter III, Steve Witten and Victor Nolletti of IPA represented the seller and procured the buyer in the transaction.

June 16, 2016

Florida Mixed-Use Southeast

Review Board Approves Design of Megacenter Project in Miami

by John Nelson June 16, 2016

MIAMI — The Urban Design Review Board (UDRB) has approved Borges + Associates Architects’ design for Megacenter, a two-tower, mixed-use development in Miami’s Brickell district. The project will include a 12-story tower that features six levels of mini-storage, 111 basement parking spots and four levels of boutique office space, as well as an eight-story residential tower with rooftop amenities and ground-level retail space. The exterior of the project will feature a rotating gallery of artwork that will be replaced periodically. Megacenter’s developer, Chilean-based Red Megacentro, is the leading self storage developer in Chile and also develops office and warehouse space in Peru and Miami. Miami-based Borges + Associates expects Megacenter to achieve LEED Gold certification.

June 16, 2016

Georgia Multifamily Southeast

Berkadia Brokers Sales of Two Multifamily Communities in Metro Atlanta Totaling $28.8M

by John Nelson June 16, 2016

ATLANTA AND NORCROSS, GA. — Berkadia has arranged the sales of two apartment communities in metro Atlanta totaling $28.8 million. The transactions included the $14 million sale of The Retreat located at 3475 Pleasantbrook Village Lane in Atlanta and the $14.8 million sale of Huntington Ridge located at 2400 Windsor Woods Lane N.W. in Norcross. Atlanta-based Marquis Investments purchased The Retreat from Atlanta-based Rosdev Group, and Atlanta-based Sabra Associates bought Huntington Ridge from Atlanta-based Greentree Real Estate Services. Paul Vetter, Andrew Mays and Judy MacManus of Berkadia’s Atlanta office brokered both deals.

June 16, 2016

District of Columbia Office Southeast

MakeOffices Signs Long-Term Office Lease at The Wharf in D.C.

by John Nelson June 16, 2016

WASHINGTON, D.C. — MakeOffices, a shared workplace platform, has signed a long-term, 45,000-square-foot office lease at The Wharf, a $2 billion waterfront development underway in southwest Washington, D.C. MakeOffices will lease the entire second and third floors of 800 Maine, a 220,000-square-foot, Class A office building. Situated at the corner of 9th Street and Maine Avenue S.W., the 11-story property is set to deliver in the third quarter of 2017. MakeOffices joins the American Psychiatric Association and bipartisan lobbying firm Van Scoyoc Associates as tenants of 800 Maine. MakeOffices typically offer flexible month-to-month leases and space options for member companies, as well as shared amenities including Wi-Fi, 24/7 access and onsite refreshments such as coffee, tea, fruit, beer and filtered water. The Wharf’s master developer, Hoffman-Madison Waterfront, signed MakeOffices to the lease at 800 Maine. Hoffman-Madison Waterfront’s members include PN Hoffman, Madison Marquette, ER Bacon Development, City Partners, Paramount Development and Triden Development.

June 16, 2016

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