Property Type

FNRP Purchases 67,662 SF Shopping Center in Montgomery, Alabama

by John Nelson February 13, 2025

MONTGOMERY, ALA. — First National Realty Partners (FNRP) has purchased Country Club Centre, a 67,662-square-foot shopping center located at 1702-1796 Carter Hill Road in Montgomery. The property sits on a 4.8-acre site and was 85 percent leased at the time of sale to tenants including anchors Winn-Dixie (35,922 square feet) and Dollar Tree (9,140 square feet). Other tenants include Staying Classy Boutique, Wingstop, China Sea Kitchen, Subway, Naz’s Boutique & Spa, Pro Nails, Mutt Cuts and Martin’s Restaurant. Gary Chou of Berkeley Capital Advisors represented the undisclosed seller in this transaction. The sales price was also not released. Country Club Centre represents FNRP’s fifth acquisition in Alabama.

February 13, 2025

Acquisitions Kentucky Multifamily Southeast

Kirkland Brokers Sale of 128-Unit Multifamily Community in Louisville

by John Nelson February 13, 2025

LOUISVILLE, KY. — The Kirkland Co. has brokered the sale of The Avenue in the Highlands, a 128-unit apartment community in Louisville’s Highlands neighborhood. Brandon Wilson, Brian Devlin and John Seale of Kirkland brokered the transaction. The buyer, seller and sales price were not disclosed, but The Lane Report reported that the property traded hands for $18 million. Built in 1966, The Avenue in the Highlands features a mix of studio, one- and two-bedroom apartments, as well as a resort-style swimming pool, dog park, coffee bar and a grilling area.

February 13, 2025

Acquisitions Georgia Retail Southeast

Ziff Real Estate Partners Sells 63,607 SF Shopping Center in Columbus, Georgia

by John Nelson February 13, 2025

COLUMBUS, GA. — Ziff Real Estate Partners has sold St. Francis Marketplace, a 63,607-square-foot shopping center located at 4519 Woodruff Road in Columbus. The retail property’s tenant roster includes Planet Fitness, Rent-A-Center, Kool Smiles, Franklin Dental & Braces and Jersey Mike’s Subs, among others. The Mt. Pleasant, S.C.-based investor originally acquired the center in 2015 and completed various upgrades at the property over the past 10 years. Steve Collins and Brent Hadden of The Palomar Group represented Ziff in the transaction. The sales price and buyer were not released.

February 13, 2025

Acquisitions Multifamily Texas

IPA Negotiates Sale of 274-Unit Apartment Community in Fort Worth

by Taylor Williams February 13, 2025

FORT WORTH, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has negotiated the sale of a Rocklyn at Samuels Ave., a 274-unit apartment community in Fort Worth. Built in 2018, the property offers studio, one-, two- and three-bedroom units with an average size of 885 square feet. Amenities include a pool, entertainment room, dog park, fitness center and outdoor grilling and dining stations. Drew Kile, Taylor Hill, Joey Tumminello, Michael Ware and Shelby Clark of IPA represented the seller, Dallas-based Carleton Cos., in the transaction and procured the buyer, EPH Properties.

February 13, 2025

Civic Development Texas

Fulton-Coastcon Breaks Ground on 94,573 SF Elementary School in Portland, Texas

by Taylor Williams February 13, 2025

PORTLAND, TEXAS — General contractor Fulton-Coastcon has broken ground on TM Clark Elementary School in Portland, located just outside of Corpus Christi. Designed by Pfluger Architects, which also recently opened a new office in downtown Corpus Christi, the school will span 94,573 square feet and will feature a media center, courtyard and collaboration areas, in addition to classrooms and administrative spaces. The school will be able to support about 650 students and is expected to be complete by fall 2026.

February 13, 2025

Hospitality Loans Texas

Avatar Financial Provides $4.3M Bridge Loan for IHG-Branded Hotel in Portland, Texas

by Taylor Williams February 13, 2025

PORTLAND, TEXAS — Seattle-based lender Avatar Financial Group has provided a $4.3 million bridge loan for the 95-room hotel Portland, located outside of Corpus Christi. The four-story, newly built hotel is operated by Avid, which is part of the InterContinental Hotel Group (IHG) family of brands. The sponsor is a joint venture between Viriginia-based Loudoun Hospitality Management and Atlanta-based fund manager Octave Acquisitions.

February 13, 2025

Acquisitions Industrial Office Texas

STRIVE Arranges Sale of 31,393 SF Industrial Flex Building in Benbrook, Texas

by Taylor Williams February 13, 2025

BENBROOK, TEXAS — Locally based brokerage firm STRIVE has arranged the sale of a 31,393-square-foot industrial flex building in Benbrook, a southwestern suburb of Fort Worth. According to Crexi, the building, which is known locally as the Spectrum Flex Building, was constructed in 1982 and was fully leased at the time of sale. Parker Tims of STRIVE brokered the deal. The buyer and seller were not disclosed.

February 13, 2025

Healthcare Leasing Activity Texas

Edloe Health Network Opens 16,100 SF Medical Office Building in Sugar Land, Texas

by Taylor Williams February 13, 2025

SUGAR LAND, TEXAS — Edloe Health Network has opened a 16,100-square-foot medical office building in Sugar Land, a southwestern suburb of Houston. The provider occupies 5,600 square feet of the building, and 8,000 square feet is leased to the Texas Advanced Surgery Center. Houston-based Identity Architects and Identity Built served as the architect and design-build firm for the project. JLL spearheaded leasing efforts at the property.

February 13, 2025

CalPoly-FullStack-Apts-San-Luis-Obispo-CA

California Development Multifamily Student Housing Western

California Polytechnic State University to Begin 4,200-Bed Residence Hall Project

by Amy Works February 13, 2025

SAN LUIS OBISPO, CALIF. — California Polytechnic State University (Cal Poly) is set to begin construction on a 4,200-bed residence hall project on the university’s campus in San Luis Obispo. The development will include nine buildings offering suite-style units for second-year students. The project is being developed by FullStack Modular utilizing modular construction methods off-site. The development will be the first large-scale use of modular construction within the California State University system, according to FullStack. Manufacturing on the project is set to begin early this year with the first phase of buildings expected for completion in fall 2026. “Affordable housing is such a big problem — especially on the West Coast — and we need to think differently about how we approach housing and continue to improve the process,” says Mike McCormick, vice president of facilities management and development at Cal Poly. “We’ve assembled a team of professionals committed to rethinking how we deliver housing and FullStack Modular’s innovative approach is a huge part of that.”

February 13, 2025

BevMo! and Staples are tenants at the 600,000-square-foot The Plaza at Golden Valley in Santa Clarita, Calif.

California Loans Retail Western

Gantry Arranges $46.5M in Refinancing for Shopping Center in Santa Clarita, California

by Amy Works February 13, 2025

SANTA CLARITA, CALIF. — Gantry has arranged $46.5 million in permanent loans for the refinancing of The Plaza at Golden Valley, a regional power center in Santa Clarita, a northern suburb of Los Angeles. Located at 19001-19415 Golden Valley Road, the property offers more than 600,000 square feet of total leasable space. Current tenants include Trader Joe’s, Staples, BevMo!, TJ Maxx, Panera Bread, Chili’s, PetSmart, Popeyes, McDonald’s, Chipotle, Bath & Body Works, Daiso, The Habit Burger and The Kebab Shop. The asset is shadow anchored by Target, Lowe’s Home Improvement and Kohl’s. Tony Kaufmann, Alex Poulos and Joe Foley of Gantry represented the borrower, a single private real estate investor, in the financing. The 10-year, fixed-rate loans were placed with two of Gantry’s insurance company correspondents and feature interest-only introductory periods, nonrecourse terms and 30-year amortizations. Gantry will service the loans.

February 13, 2025

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