Wednesday, June 25, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Property Type

5116-Denali-Park-Dr-Herriman-UT
AcquisitionsRetailUtahWestern

SRS Real Estate Partners Brokers $5.3M Sale of PetSuites Location in Herriman, Utah

by Amy Works

HERRIMAN, UTAH — SRS Real Estate Partners has arranged the purchase of a newly constructed retail property, located at 5116 Denali Park Drive in Herriman, approximately 20 miles southwest of Salt Lake City. A Washington-based private investor in a 1031 exchange acquired the asset from a developer for $5.3 million. PetSuites, which opened in November 2023, occupies the 10,953-square-foot property. The tenant has a 20-year lease in place. PetSuites operates more than 80 locations nationally with services including daycare, boarding, grooming and training for pets. Susan Harris of SRS represented the buyer, while JLL represented the seller in the deal.

Continue Reading
FacebookTwitterLinkedinEmail
CaliforniaCivicDevelopmentMixed-UseStudent HousingTop StoriesWestern

Greystar Delivers $282M Student Housing Development at UC Law in Downtown San Francisco

by John Nelson

SAN FRANCISCO — Real estate development firm Greystar has delivered Academe at 198, a $282 million student housing property in downtown San Francisco. Located at 198 McAllister St. in the city’s Civic Center district, the mixed-use property is Phase I of the Academic Village expansion at UC Law San Francisco, formerly known as UC Hastings College of the Law. Academe at 198 spans 14 stories and features 656 units (667 beds) for students at UC Law SF, as well as faculty and staff. The property website also says students from nearby University of California San Francisco, San Francisco State University, University of San Francisco and University of the Pacific Dugoni School of Dentistry can apply for housing. The units come in a variety of layouts: efficiency (232 square feet); studio (275 square feet); one-bedroom (397 square feet); and two-bedroom (568 square feet). Monthly rental rates begin at $1,850 for an efficiency apartment, which is below market rates, according to the property website. In addition to housing, the 365,000-square-foot property includes 43,000 square feet of office and academic space that is leased and operated by UC Law, including an incubator space for start-up tech firms that doubles as event space called LexLab. …

Continue Reading
FacebookTwitterLinkedinEmail
IdahoMarket ReportsMultifamilySeniors HousingWesternWestern Market Reports

Asset Consolidation Will Continue in the Boise Metro Seniors Housing Market

by Jeff Shaw

— By Blake Bozett, founder and CEO, The Zett Group — The Boise metro (Boise, Eagle, Meridian, Garden City) is made up of 75 licensed assisted living facilities, 42 of which have more than 30 licensed beds. Of those 42 assisted living facilities, the ownership type is made up of: national owner/operator (18), local owner/operator (12), REIT (4), regional owner/operator (3), local development company (2), privately held real estate investment firm (1), 1031 investment platform (1) and non-profit (1). These ownership stats aren’t necessarily unique to other metros such as Seattle and Portland with institutional capital typically owning a large share of the buildings. What’s interesting to me on a micro level is that the single asset, one to two off owners are more interested in selling than years past. What started as a simple mom-and-pop operating business a few decades ago has turned into a sophisticated and challenging operating business with extreme expense, inflationary and regulatory pressures. Having come from the operations side of the business I’ve seen many of these challenges firsthand. Therefore, it no surprise why the local owner who has owned his/her assisted living facility for 20 years may have greater appetite for selling despite less …

Continue Reading
FacebookTwitterLinkedinEmail
Build-to-RentDevelopmentFloridaMultifamilySingle-Family RentalSoutheast

Advenir Capital Underway on $93.5M Build-to-Rent Residential Community in Metro Tampa

by John Nelson

SAN ANTONIO, FLA. — Miami-based Advenir Capital is underway on the development of LEO at Cypress Creek, a $93.5 million build-to-rent community in San Antonio, a suburb within the Tampa-St. Petersburg metropolitan area. Site work is currently underway, and vertical construction is scheduled to begin in June. Situated on 40 acres, the property will feature 315 units, with a mix of standalone cottages, duplexes and townhomes ranging from one bedroom and 728 square feet to three bedrooms and 1,510 square feet. Amenities at the community will include a swimming pool, clubhouse with a 24-hour fitness center, internet lounge, free Wi-Fi throughout the property, pocket parks and a pet washing station. Delivery of the first units is scheduled for June 2025, with completion expected by spring 2026. Nequette Architecture & Design designed LEO at Cypress Creek, and BBL Building Co. will serve as the general contractor.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentFloridaMultifamilySoutheast

Fifield Cos. Begins Construction of 210-Unit Wynwood Station Apartment Community in Miami

by John Nelson

MIAMI — Fifield Cos. has begun construction on Wynwood Station, a 210-unit transit-oriented apartment community development at 45 N.E. 27th St. in the Wynwood neighborhood of Miami. Upon completion, the building will span eight stories and feature 11,000 square feet of ground-floor retail space. Apartments will range from 567 to 1,036 square feet in size, with a mix of studio, one- and two-bedroom floorplans. Amenities at the community will include a resident lounge, party room, makers room, demonstration kitchen, fitness center, golf simulator, pet spa, remote work area, rooftop sun deck, soaking pool, hot tub and outdoor grills and dining areas. Completion is scheduled for April 2025. The project team includes MSA Architects, interior designer IDDI and general contractor Kast Construction.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsHospitalityMarylandSoutheast

JLL Brokers Sale of 289-Room Dual-Branded Hotel in Hanover, Maryland

by John Nelson

HANOVER, MD. — JLL Capital Markets has brokered the sale of a 289-room dual-branded Aloft/Element Arundel Mills BWI Airport hotel in Hanover, a southern suburb of Baltimore. The Aloft comprises 142 rooms, and Element has 147 guest rooms. Amenities at the property include an indoor pool, fitness center, 24-hour market, guest laundry and a meeting space. Located off State Route 100, the property is situated about five miles from Baltimore/Washington International Thurgood Marshall Airport. Spark GHC acquired the hotel for an undisclosed price. Ketan Patel, KC Patel and Phil White of JLL arranged the sale on behalf of the undisclosed seller.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIndustrialNorth CarolinaSoutheast

CBRE Arranges $11M Sale of Office/Industrial Flex Building in Southwest Charlotte

by John Nelson

CHARLOTTE, N.C. — CBRE has arranged the $11 million sale of Scarlet Oak, an office/industrial flex building located at 8700-8702 Red Oak Blvd. in southwest Charlotte. A joint venture between Somerset Properties and ABR Capital Partners acquired the property. Built in 1981 and renovated in 2022, the property comprises 81,118 square feet and was 84 percent leased at the time of sale. Part of Griffin Partners’ The Oaks, a four-building industrial portfolio, the building features 245 parking spaces and 17 dock-high, drive-in doors. Recent upgrades to the property include a new outdoor amenity space, exterior improvements, new paint, a new backflow preventer and a newly resealed and restriped parking lot. Patrick Gildea, Robert Hardaway and Matt Smith of CBRE represented the seller in the transaction. Prior to the sale, Alek Salfia, Joe Franco and Kris Westmoreland of CBRE managed leasing at the property on behalf of the seller.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentFloridaMixed-UseSoutheast

Limestone, Orion Complete $5M Renovation of Pinecrest Town Center in South Florida

by John Nelson

PINECREST, FLA. — Limestone Asset Management and Orion Real Estate Group have completed the $5 million renovation of Pinecrest Town Center, a 225,255-square-foot mixed-use property located at 12651 S, Dixie Highway in the south Miami suburb of Pinecrest. Renovations at the property, which features retail and office space, included upgrades to the façade and storefronts, the installation of impact windows, improved lighting and the addition of a rooftop parking area. General contractor Tim Majors of Suncon Inc. and architect Bruce Arthur of WHA Design led the project. Pinecrest Town Center was 90 percent leased at the time of renovations to tenants including Sage Dental, Coldwell Banker, Anacapri Italian Restaurant and Sea Siam. The property was previously renovated in 1994 and 2004. Limestone purchased the property, which was built in 1985, in 2021 for $32 million.

Continue Reading
FacebookTwitterLinkedinEmail
Grandview-Laredo
DevelopmentIndustrialTexas

Grandview, Brennan to Develop 393,796 SF Industrial Project in Laredo, Texas

by Taylor Williams

LAREDO, TEXAS — A joint venture between Connecticut-based Grandview Partners and Chicago-based Brennan Investment Group will develop a 393,796-square-foot industrial project in the Rio Grande Valley city of Laredo. The site spans 24 acres within the 1,390-acre Pinnacle Industry Center development. Building features will include 32-foot clear heights, 195-foot truck court depths and parking for 152 cars and 199 trailers. Construction is expected to begin in the coming weeks and to last about 12 months.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentOfficeTexas

Skanska Completes 375,000 SF Office Building in Downtown Houston

by Taylor Williams

HOUSTON — International developer Skanska has completed construction on 1550 on the Green, a 375,000-square-foot office building in downtown Houston. Bjarke Ingels Group designed the 28-story building, which Skanska broke ground in June 2021 and topped out last February. Amenities include multiple indoor and outdoor terraces overlooking Discovery Green park, a 9,400-square-foot rooftop event space, a fitness center with space for private classes and 7,000 square feet of ground-floor retail space.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts