Property Type

Stahl Construction to Build Eco Village Mixed-Use Project in Minneapolis

by Christina Cannon August 25, 2016

MINNEAPOLIS — Stahl Construction has been selected to build St. Louis Park, an eco-village project in Minneapolis. The mixed-use development will consist of 300 apartments (both affordable and market rate), a hotel and retail space. The development will provide 80 percent of the energy required to run the complex from renewable sources. The transit-oriented community will feature rooftop decks and a one-acre urban forest with public art. Construction on the project is slated to begin next spring. PLACE will serve as the project developer, and STANTEC will provide design services. Other parties involved include MSR Architects, Rachel Contracting, LIFT and Allianz Life.

August 25, 2016

Kansas Midwest Multifamily Seniors Housing

CA Ventures, Pathway Complete $22M Hotel Transformation to Seniors Housing in Kansas

by Christina Cannon August 25, 2016

OLATHE, KAN. — CA Ventures LLC and Pathway Senior Living have opened Travanse Living at Olathe, a 132-unit assisted living and memory care community in Olathe, approximately 25 miles southeast of Kansas City. The project is the first seniors housing community developed by CA Ventures, and is a $22 million adaptive reuse project of a former Holiday Inn. The two-story community sits on a seven-acre site near Olathe Medical Center and several medical office buildings. It features 75 assisted living units and 57 memory care units. CA Ventures owns the property, which Pathway operates. The community also features a rehabilitation facility on site — The Rehab Place at Travanse Living at Olathe — which Olathe Health System operates.

August 25, 2016

Midwest Retail Wisconsin

Friedman Brokers Sale of 67,215 SF Retail Property in Milwaukee Suburb

by Christina Cannon August 25, 2016

PORT WASHINGTON, WIS. — Friedman Integrated Real Estate Solutions has brokered the sale of a 67,215-square-foot retail center in Port Washington, approximately 30 miles north of Milwaukee, for an undisclosed price. PJR Properties, an affiliate of Piggly Wiggly Midwest LLC, purchased the property from CSFB 2002-CKP1 Seven Hills LLC – LNR. North Port Shopping Center, located at 101 W. Seven Hills Road, is situated on a 6.5-acre site and features tenants such as Sentry Foods, Cost Cutters, Subway, H&R Block and Arby’s. The property was sold at auction through Ten-X.com.

August 25, 2016

Florida Multifamily Southeast

Private Investor Purchases Two Apartment Communities in Tampa Area for $95.6M

by John Nelson August 25, 2016

TAMPA AND BRANDON, FLA. — An unnamed private investor has purchased two apartment communities in Tampa and Brandon for a total of $95.6 million. The portfolio sale included Columns at Brandon West, a 342-unit, Class A apartment community located at 10011 Balaye Run Drive in Tampa. A joint venture between ECI Group and funds managed by Ares Management LP sold the asset for $46 million. Completed in 2001, the 96 percent-occupied property features 10 three-story buildings surrounding two lakes. The one-, two- and three-bedroom units feature nine-foot ceilings, in-unit washers and dryers, walk-in closets and screened-in balconies/patios. Community amenities include a recently updated clubhouse and poolside lounge, resort-style swimming pool, outdoor kitchen, fitness studio, movie screening room, self-service car wash and a nature trail. The buyer also purchased Westbury at Lake Brandon, a 366-unit property located approximately three miles southeast of Columns at Brandon West at 1210 Westbury Pointe Drive in Brandon. An affiliate of Goff Capital Partners sold the property for $49.6 million. Completed in 2001, the 95 percent-occupied, garden-style property features one-, two- and three-bedroom units averaging 988 square feet. Units feature breakfast bars, designer kitchens, crown molding, full-size washers and dryers and walk-in closets. Community amenities include …

August 25, 2016

Georgia Loans Office Southeast

NXT Capital Provides $13.6M Acquisition Loan for Office Building in Atlanta

by John Nelson August 25, 2016

ATLANTA — NXT Capital has provided a $13.6 million acquisition loan for the purchase of Northridge Plaza, a six-story, Class B office building in Atlanta. The 128,000-square-foot property is located at the intersection of GA 400 and Northridge Road.

August 25, 2016

Alabama Hospitality Southeast

Hunter Hotel Advisors Brokers $13.3M Sale of Hilton Birmingham Perimeter Park

by John Nelson August 25, 2016

BIRMINGHAM, ALA. — Hunter Hotel Advisors has brokered the sale of the 205-room Hilton Birmingham Perimeter Park in Birmingham. The buyer, Atlanta-based Peachtree Hotel Group, purchased the eight-story hotel with plans to invest $10.5 million to renovate and reposition the property into a DoubleTree by Hilton hotel. The sales price and seller were undisclosed, but the Birmingham Business Journal reports the sale price as nearly $13.3 million.

August 25, 2016

Maryland Retail Southeast

H&R Retail Arranges Hobby Lobby’s 57,497 SF Lease in Maryland

by John Nelson August 25, 2016

CALIFORNIA, MD. — H&R Retail has represented Hobby Lobby in its 57,497-square-foot lease for a new store at Laurel Glen Shopping Center. The asset is located at 45315 Alton Lane in California. David Ward and Ben Hoskins of H&R Retail, along with The Keith Corp., brokered the transaction. Shanri Holdings Corp. owns the new store, which is set to open in early 2017.

August 25, 2016

Industrial Kentucky Southeast

NAI Isaac Brokers $1.8M Sale of Industrial Facility in Lexington

by John Nelson August 25, 2016

LEXINGTON, KY. — NAI Isaac has brokered the $1.8 million sale of a 33,000-square-foot industrial facility located at 1387 E. New Circle Road in Lexington. The undisclosed buyer plans to renovate and expanding the building. Al Isaac and Jamie Adams of NAI Isaac represented the seller, McLean Properties Inc., in the transaction. David Allen of The Gibson Co. represented the buyer.

August 25, 2016

District of Columbia Mixed-Use Southeast Top Stories

Balfour Beatty to Build $196M North Block Phase of D.C.’s Capitol Crossing Development

by Christina Cannon August 25, 2016

WASHINGTON, D.C. — Balfour Beatty has been awarded a $196 million contract to build the North Block phase of Property Group Partners’ Capitol Crossing development in Washington, D.C. The North Block phase will include the construction of two 12-story, mixed-use office buildings totaling 960,000 square feet that will be connected by a glass connector bridge. Capitol Crossing is a 2.2 million-square-foot project that will span three blocks and seven acres once complete. The project will include 70,000 square feet of retail space, garden promenades, 1,100 parking spaces, a fitness center and 440 bicycle spaces. The average floor plate at Capitol Crossing will be 30,000 square feet. “Property Group Partners has a strong belief in reimagining cityscapes and revitalizing neighborhoods through sustainable building and innovative engineering,” says Leon Blondin, president of Balfour Beatty’s Mid-Atlantic division. “We’re honored to be their construction partner in building this truly historic development in the downtown core that will reconnect long-divided Capitol Hill to the East End. Having already managed the preconstruction, utility relocation and platform construction phases, it’s very gratifying to continue our work to take this project vertical and deliver its first two mixed-use buildings.” Work is scheduled to first begin on the building …

August 25, 2016

Connecticut Market Reports Northeast Northeast Market Reports Office

Fairfield County: Office Revamps Result in Tenancy Shift

by Jaime Lackey August 25, 2016

Fairfield County, Connecticut, which has traditionally been home to many multi-national financial tenants, is transitioning to become one of the most diverse business environments in the region and attracting some of the biggest names from the TAMI (technology, advertising, media and information), creative, engineering and corporate arenas. This shift in the fabric of the business community may be attributed to major investments made by a number of owners to improve and reposition their office properties to meet the demands of this new type of tenant. Owners are virtually creating new tenant experiences in their buildings, with office space boasting technological efficiencies and tenant amenities designed to support a balance between professional and personal needs. The “if you build, he will come,” quote made famous in the movie Field of Dreams is certainly apropos when looking at the trend of newly renovated properties attracting some of the best tenants in the market. A perfect example is the success at Merritt 7, a six-building, 1.4 million-square-foot office complex that recently completed more than 600,000 square feet of new leases — including a recent 133,000-square-foot lease by Datto Inc., one of the fastest- growing information technology firms in the world for its global …

August 25, 2016

Newer Posts

Older Posts