Property Type

Marcus & Millichap Negotiates $12.9M Sale of AVID Hotel in Summerville, South Carolina

by John Nelson April 15, 2025

SUMMERVILLE, S.C. — Marcus & Millichap has negotiated the $12.9 million sale of AVID Summerville, a 95-room hotel located at 301 Holiday Drive in Summerville, roughly 23 miles from Charleston. The AVID hotel, which opened in 2021 off I-26, includes a 24-hour gym, 24-hour market with grab-and-go breakfast items and complimentary Wi-Fi. Jack Davis, Sam Gardner, Chase Dewese, Chris Gomes, Skyler Cooper, Joce Messinger and Allan Miller of Marcus & Millichap represented the seller in the transaction. Davis, Messinger and Dewese also procured the buyer. Both parties requested anonymity.

April 15, 2025

Development Leasing Activity Mixed-Use Restaurant Retail Southeast Virginia

Hoffman & Associates Signs Four New Restaurants to Join West Falls Mixed-Use Project in Metro D.C.

by John Nelson April 15, 2025

FALLS CHURCH, VA. — Hoffman & Associates has signed four new restaurant concepts to join the tenant roster at West Falls, a 10-acre mixed-use development in Falls Church, roughly 10 miles west of Washington, D.C. The new eateries include Ice Cream Jubilee, BurgerFi, Honoo Ramen Bar and Dok Khao. These restaurants will join other West Falls tenants that are now open, including Mason’s Famous Lobster Rolls, Chase Bank, Tierra Encantada, Perspire Sauna Studios, CityDance Studios and Levine Music. In addition to shops and restaurants, West Falls will include The Oaks (condominiums), The Reserve at Falls Church (seniors housing) and The Alder (market-rate apartments), as well as a central greenspace called The Commons.

April 15, 2025

Development Retail Texas

De La Vega Development Nears Completion of Phase I of Dallas Mixed-Use Project

by Taylor Williams April 15, 2025

DALLAS — De La Vega Development is nearing completion of Phase I of The Central, a 27-acre mixed-use project located at the corner of North Haskell Avenue and the North Central Expressway in Dallas. Phase I of the project features a central communal park known as The Pavilions at The Central that can also support retail and restaurant uses. Designed in collaboration with local architecture firms GFF and Bud Creative, The Pavilions features four interconnected structures with outdoor seating that are surrounded by various biophilic elements and spaces that promote communal gathering. In addition, the space is located across from The Oliver, a 19-story apartment building that developer StreetLights Residential recently began leasing. Full completion of the park and pavilions is slated for the summer.

April 15, 2025

Development Multifamily Texas

Fein Breaks Ground on 326-Unit Echo Lake Apartments in North Houston

by Taylor Williams April 15, 2025

HOUSTON — Locally based developer Fein has broken ground on Echo Lake, a 326-unit apartment community that will be located in North Houston. The site spans 21.4 acres within the CityPlace mixed-use development, and the property is named after the 1.2-acre lake and trail system that will serve as a focal point of the project. Designed by Steinberg Dickey Collaborative and financed by Comerica Bank, Echo Lake will have two- and three-story buildings that will house one-, two- and three-bedroom units and Class A amenities. About 40 percent of units will be townhouse-style residences with attached garages. Fein is developing Echo Lake in partnership with Open House Group, an equity investment that was arranged by John Fenoglio of CBRE. The first units are expected to be available for occupancy in the second quarter of 2026, with full completion slated for mid-2027.

April 15, 2025

Acquisitions Industrial Texas

JLL Brokers Sale of 297,640 SF Cold Storage Facility in Baytown, Texas

by Taylor Williams April 15, 2025

BAYTOWN, TEXAS — JLL has brokered the sale of Blackline Cold Storage, a 297,640-square-foot facility located in the eastern Houston suburb of Baytown. Built in 2022 within the Cedar Port Industrial Park master-planned development, the facility features 45-foot clear heights, 22 dock doors, over 36,000 pallet positions and an ESFR sprinkler system. Trent Agnew, Will Mogk, Keenan Ryan and Clay Anderson of JLL represented the undisclosed seller in the transaction. The buyer was Atlanta-based cold storage owner-operator Americold Realty Trust.

April 15, 2025

Development Industrial Texas

Leon Industrial Begins Construction on 118,178 SF Project Near DFW Airport

by Taylor Williams April 15, 2025

DALLAS — Leon Industrial, a division of locally based development and investment firm Leon Capital Group, has begun construction on a 118,178-square-foot project near Dallas-Fort Worth (DFW) International Airport. The facility will be known as 161 Airport Center and will feature 32-foot clear heights, 130-foot truck court depths, an ESFR sprinkler system, up to 28 trailer parking spaces and additional outside storage space. Stream Realty Partners is the leasing agent. Completion is slated for late this summer.

April 15, 2025

Acquisitions Multifamily Texas

Greysteel Arranges Sale of 116-Unit Candle Chase Apartments in Southwest Fort Worth

by Taylor Williams April 15, 2025

FORT WORTH, TEXAS — Greysteel has arranged the sale of Candle Chase Apartments, a 116-unit apartment complex in southwest Fort Worth that was built in 1969. According to Apartments.com, the property offers one- and two-bedroom units that range in size from 715 to 1,198 square feet. Doug Banerjee and Sterling Warren of Greysteel represented the seller, Epic Capital Partners, in the transaction. The buyer, an entity doing business as Delara Chase LLC, has rebranded the property as Delara Chase Apartments.

April 15, 2025

Development Industrial Utah Western

Ritchie Group to Develop 3.2 MSF Spec Industrial Park in Spanish Fork, Utah

by Amy Works April 15, 2025

SPANISH FORK, UTAH — The Ritchie Group is developing Global Logistics Headquarters Development Park, a speculative industrial development in Spanish Fork. Located at 2100 N. 700 West, the project will feature 13 buildings totaling more than 3.2 million square feet of industrial space. The 1.9 million-square-foot first phase is scheduled for delivery by the end of the year, with full project completion expected by 2031. The development will feature tall clear heights, ample parking for trucks and cars, build-to-suit options tailored to tenant need and immediate access to Interstate 15. Jarrod Hunt, Gordon Jacobson and Andy Blunt of Colliers are handling leasing for the development.

April 15, 2025

Development Loans Multifamily Utah Western

Berkadia Secures $31.5M Bridge Loan for Apartment Project in Salt Lake City

by Amy Works April 15, 2025

SALT LAKE CITY — Berkadia has secured a $31.5 million bridge loan on behalf of Midtown Capital to complete construction of The Astoria, a multifamily community in Salt Lake City. Slated for completion in third-quarter 2025, the 149-unit property is situated in the city’s Fairpark District. Scott Wadler, Patrick Johnson, Mitch Sinberg, Brad Williamson and Matt Robbins of Berkadia secured the financing for the sponsor, a vertically integrated real estate development and management company with offices in Miami, West Palm Beach, Fla., and Madrid, Spain. New York-based lender RMWC provided the two-year, floating-rate loan to refinance the existing construction loan and fund the project’s completion. Located at 11 N. 800 West, the seven-story Astoria will feature 372-square-foot micro units, 545-square-foot studios and one- and two-bedroom layouts up to 955 square feet each. The property is adjacent to the Jackson/Euclid light rail station, allowing for immediate access to SLC International Airport, the Delta Center and downtown Salt Lake City.

April 15, 2025

Hospitality Loans New York Northeast

JLL Arranges $235M Loan for Refinancing of Long Island Hotel, Resort

by Taylor Williams April 15, 2025

MONTAUK, N.Y. — JLL has arranged a $235 million loan for the refinancing of the 20-acre Gurney’s Montauk Resort & Seawater Spa, located on the eastern tip of the Long Island peninsula. The property’s hospitality component totals 158 units: 109 guestrooms, 35 suites, eight beachfront cottages and six residences. In addition to a 2,000-foot private beach, the resort features five onsite food-and-beverage venues, four pools, a salon, 25,000 square feet of meeting and event space, a 30,000-square-foot spa and a fitness center. In addition, the owner, a partnership between BLDG Management Co. Inc. and Metrovest Equities, recently completed a capital improvement program at the property that upgraded guestrooms, common areas and amenity spaces. Christopher Peck, Kevin Davis, Mark Fisher and Connor Medzigian of JLL arranged the debt through a joint venture between Smith Hill Capital and Bain Capital.

April 15, 2025

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