Property Type

HFF Negotiates Sale of 59-Unit Apartment Complex in Austin

by Haisten Willis June 11, 2015

AUSTIN, TEXAS — HFF has negotiated the sale of SoCo I and II, a 59-unit boutique apartment complex located in Austin. HFF marketed the asset on behalf of Artesia. EG Funds Management purchased the property for an undisclosed amount. SoCo I & II is located at 3504 and 3508 Alpine Circle between South Congress and South 1st streets in the South Austin submarket. Renovated in 2014, the community consists of a pair of two-story buildings situated on 1.4 acres. It was 98 percent occupied at closing. Matt Pohl, Sean Sorrell and Ryan McBride led the HFF investment sales team representing the seller.

June 11, 2015

Hillwood Launches New Urban Division

by Haisten Willis June 11, 2015

DALLAS — Hillwood, a privately owned real estate developer, is set to form Hillwood Urban, a new real estate division. Hillwood Urban will focus on large corporate office developments and mixed-use projects on core urban land sites, as well as suburban land opportunities in North Texas. Hillwood Urban will be led by Mike Berry, president of Hillwood Properties, along with existing Hillwood leadership such as Ken Reese, executive vice president of Hillwood Investments; Walt Zartman, senior vice president for Hillwood Development; Jacob Walter, vice president for Hillwood Development; and Bill Burton and Russell Laughlin, executive vice presidents of Hillwood Properties.

June 11, 2015

Industrial Texas

Avison Young Arranges Land Sale in Metro Houston

by Haisten Willis June 11, 2015

BAYTOWN, TEXAS — Lee Jones and Tommy LeBlanc of Avison Young represented the Hunt Family in the sale of 44 acres near the Grand Parkway to Guy Pfitzner, who was represented by Brenda Wagner of Mary Dunn Real Estate. The property is located a half mile east of Highway 99 on FM 565 in Baytown.

June 11, 2015

Florida Multifamily Southeast

ZOM Breaks Ground on 50-Story High-Rise Apartment Building in Miami

by John Nelson June 11, 2015

MIAMI — ZOM has broken ground on Solitair, a 438-unit, 50-story multifamily high-rise in Miami. The apartment tower is located at 86 S.W. 8th St. in Miami’s Brickell district, a block between Brickell City Centre and Mary Brickell Village. JP Morgan Chase and HSBC Bank USA provided construction financing for the project on behalf of ZOM and its joint venture partner, an affiliate of AIG Global Real Estate. The design team includes architect ADD Inc. and general contractor Balfour Beatty Construction. ZRS Management LLC will provide property management services for the tower upon completion, which is set for late 2017, according to ZOM.

June 11, 2015

Office South Carolina Southeast

Trinity Capital, Durlach to Develop Class A Office Building in North Charleston

by John Nelson June 11, 2015

NORTH CHARLESTON, S.C. — Trinity Capital Advisors has partnered with Durlach Associates to develop Faber Plaza, a Class A office building located in North Charleston’s Faber Place submarket. The 125,000-square-foot building will be located at 4400 Leeds Ave., at the entrance to The Executive Park at Faber Place and Leeds Park. Rob Cochran and Jared Londry of DTZ’s Carolinas Capital Markets group arranged construction financing on behalf of Durlach Associates. The design team includes architect LS3P Architects and general contractor Choate Construction. Trinity Capital and Durlach are planning to break ground in late July, with construction set for an April 2016 completion.

June 11, 2015

Florida Multifamily Southeast

Alliance Residential Breaks Ground on New Apartment Community in Fort Lauderdale

by John Nelson June 11, 2015

FORT LAUDERDALE, FLA. — Alliance Residential has begun construction on Broadstone Harbor Beach, a 349-unit apartment community located on a four-acre lot off of 17th Street in Fort Lauderdale. Upon completion in the first quarter of 2017, the apartment community will feature three courtyards, a resort-style swimming pool with cabanas, a pool pavilion with billiards, putting green, bocce ball, clubroom, demonstration kitchen, fitness center and a movie theater. The multifamily property will also offer immediate access to Fort Lauderdale’s entertainment district, the Intracoastal Waterway and the Atlantic Ocean. In early March, Berger Commercial Realty brokered the $22.1 million land sale for the site of Broadstone Harbor Beach.

June 11, 2015

Multifamily Southeast Virginia

ARA Newmark Brokers Sale of Luxury Apartment Community in Virginia

by John Nelson June 11, 2015

HERNDON, VA. — ARA Newmark has brokered the sale of Monroe Place, a 202-unit mid-rise apartment community located in Herndon. Constructed in 2008, the property was 96 percent occupied at the time of sale. Monroe Place is situated within the main square of the Woodland Park Crossing lifestyle center, which features 124,000 square feet of retail and office space. Drew White and Ryan Ogden of ARA Newmark represented the seller, an institutional investor advised by J.P. Morgan Asset Management, in the transaction. The buyer, Washington, D.C.-based Dweck Properties, purchased the asset for an undisclosed price.

June 11, 2015

Industrial Maryland Southeast

CBRE Arranges 122,044 SF Industrial Lease in Metro Baltimore

by John Nelson June 11, 2015

COLUMBIA, MD. — CBRE has arranged a lease on behalf of Deutsche Asset & Wealth Management for 122,044 square feet at Gateway Commerce Center in Columbia, a suburb of Baltimore. The property is situated near I-95, Baltimore/Washington International Thurgood Marshall Airport and Columbia Town Center. National Retail Systems Inc., which includes Keystone Freight Corp. and National Retail Transportation Inc., will utilize the property at 8700 Robert Fulton Drive to provide logistics support for T.J. Maxx. Built in 1971 and remodeled in 1997, Gateway Commerce Center spans more than 48.7 acres with a total of 700,945 square feet and features dock and drive-in loading, an ESFR sprinkler system and 28- to 50-foot clear heights. John Wilhide and Ed Harris of CBRE represented the landlord in the lease transaction.

June 11, 2015

New York Northeast Office

Silverstein Properties, BIG Unveil 2 World Trade Center

by Amy Works June 11, 2015

NEW YORK CITY — Silverstein Properties Inc. and Bjarke Ingels Group (BIG) have unveiled 2 World Trade Center, located at 200 Greenwich St. in New York City. The 80-story, 2.8 million-square-foot office building will feature a 38,000-square-foot lobby and access to the World Trade Center Transit Hub. Designed by BIG, the tower will feature a stacked design, which allows for 38,000 square feet of outdoor terraces within the property. Upon completion, the property will be 50 percent occupied by 21st Century Fox and News Corp.

June 11, 2015

Multifamily New Hampshire Northeast Seniors Housing

LCB Senior Living Breaks Ground for The Residence at Salem Woods

by Amy Works June 11, 2015

SALEM, N.H. — LCB Senior Living has broken ground for The Residence at Salem Woods, a seniors housing community in Salem. Located at 6 Sally Sweets Way, the 77,000-square-foot community will feature 84 units, including a mix of studio, one-bedroom and two-bedroom units, a memory care wing, a library, computer room, walking paths, a salon and recreation areas. Eckman Construction is serving as general contractor and Chelsea, Mass.-based The Architectural Team is architect of record. Completion is slated for early 2016.

June 11, 2015

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