DALLAS — Lee & Associates has completed a lease renewal for a 28,891-square-foot industrial space located at 11625 Columbia Center Drive in Dallas. Nathan Denton of Lee & Associates Dallas/Fort Worth represented the tenant, Vogue Tyre, a provider of custom tires and wheels, and Mitch Pruitt internally represented the landlord, Prologis.
ATLANTA — Carey Watermark Investors 2 Inc. (CWI 2), a hospitality-focused REIT, has purchased the Renaissance Atlanta Midtown Hotel, a 304-room, 21-story hotel located at the northwest corner of West Peachtree Street and Abercrombie Place in Atlanta’s Midtown district. The seller and sales price were not disclosed. Davidson Hotels & Resorts, an Atlanta-based hotel management company that operates 38 hotels throughout the United States, will manage the hotel. Built in 2009 and converted to Marriott International’s Renaissance brand in 2011, the hotel has undergone more than $3 million of capital improvements between 2011 and 2015. The hotel’s restaurant, Community Smith, reopened in January 2015. Other amenities include 8,600 square feet of meeting space, a rooftop bar and lounge, 24-hour spa and fitness center and a 24-hour business center. Affiliates of W. P. Carey Inc. and Watermark Capital Partners advise CWI 2 and manage its overall portfolio.
MINNEAPOLIS — Doran Cos. has acquired a 90,000-square-foot retail property in Minneapolis for $24.9 million. Pfaff Calhoun LLC sold Calhoun Village Shopping Center, which is located at 3200 W. Lake St. The center is over 90 percent occupied and includes tenants such as Walgreens, Punch Pizza, Burger Jones and Barnes & Noble.
FOXBOROUGH, MASS. — Colliers International has brokered the sale of an office building located at 33 Commercial St. in Foxborough. An affiliate of Lexington Realty Trust sold the property for an undisclosed sum. Situated on approximately 18 acres, the property features 80,000 square feet of office space. Caleb Hudak, P.J. Foster and Steve Woelfel of Colliers handled the transaction. The name of the buyer was not released.
WEST NEW YORK, N.J. — Gebroe-Hammer Associates has arranged the sale of 45 multifamily units at 5907 Boulevard East, a five-story multifamily property located in West New York. A private investor acquired the assets for $8 million, or $177,777 per unit. The property features a mix of one- and two-bedroom layouts. Nicholas Nicolaou of Gebroe-Hammer Associates represented the buyer and seller, a private investor, in the deal.
FRISCO, TEXAS — FM Global has signed on as an office tenant at The Star, home of the Dallas Cowboys headquarters that opened in July 2016. The commercial property insurance company will occupy more than 79,000 square feet of office space across floors five and six, including that tower’s entire top floor. The Star includes 398,000 square feet of Class A office space, including a two-story underground parking garage. Established nearly 200 years ago, FM Global is a multi-national mutual insurance company. The company is the Dallas Cowboys’ provider of property and builders’ risk insurance. The move will bring over 300 of FM Global’s employees, mostly from the company’s current space in Plano, to The Star in June 2017.
CARROLLTON, TEXAS — JLL has negotiated an 82,588-square-foot industrial lease renewal for B. Braun Medical Inc. The medical device manufacturer’s Dallas office is located at 1601 Wallace Drive in Carrollton. JLL’s Elizabeth Jones and Tom McCarthy negotiated the lease on behalf of the tenant. CBRE’s Steve Trese and Wilson Brown represented the landlord, Colony Capital.
ORLANDO, FLA. — ARA Newmark has brokered the sale of Chickasaw Crossing, a 292-unit, garden-style apartment community located at 7960 Pine Crossing Circle in Orlando. The sales price was not disclosed, but the Orlando Business Journal reports the property traded for $26.9 million. Built in 1986, the property comprises one- and two-bedroom units and features gated access, a fitness center, business center, laundry facility, racquetball court and a tennis court. Kevin Judd, Patrick Dufour, Scott Ramey, Marc deBaptiste and Dick Donnellan represented the sellers, Villabar Real Estate Inc. and Westdale Property Management, in the transaction. Oak Residential Partners purchased the property, which was 94 percent occupied at the time of sale.
ATHENS, GA. AND TALLAHASSEE, FLA. — Pierce Education Properties LP has acquired two student housing communities located in Florida and Georgia. The acquisitions include The Commons at Tallahassee, a 732-bed community located just north of the Florida State University campus in Tallahassee; and The Reserve at Athens, a 612-bed community located near the University of Georgia campus in Athens. KeyBank Real Estate provided debt financing for both acquisitions. Amenities at The Commons at Tallahassee include a resort-style swimming pool and hot tub, lighted tennis court, 24-hour fitness center, outdoor basketball court, upgraded game room and high-speed wireless internet. Amenities at The Reserve at Athens include a resort-style saltwater swimming pool with a hot tub and sun deck, cook-out and lounge areas, 24-hour fitness center, outdoor basketball court, lighted tennis court, game room, dedicated “Night Life Shuttle” service to downtown Athens and high-speed wireless internet.
MACON, GA. — Stan Johnson Co. has brokered the $3.5 million sale of a freestanding, 66,449-square-foot industrial facility leased to FedEx Ground Package System Inc. in Macon. Constructed in 2006, the build-to-suit property sits on 11.4 acres at 244 Mercer Junction. Alliance Commercial Real Estate Group purchased the asset, which FedEx uses as a package sorting and distribution facility. Britton Burdette and Mollie Alteri of Stan Johnson Co.’s Atlanta office represented the seller, 244 Mercer Junction Road LLC, and procured the buyer in the transaction.
