WOBURN, MASS. — An affiliate of San Diego-based developer Fairfield Residential has purchased land at 316 New Boston St. in Woburn, a northern suburb of Boston, for the development of a 425-unit multifamily project. Of those units, 15 percent will be reserved as affordable housing for renters earning 80 percent or less of the area median income. A construction timeline was not disclosed. Simon Butler, Biria St. John and John McLaughlin of CBRE represented the undisclosed seller and Fairfield in the $23.4 million sale of the land.
WHITE PLAINS, N.Y. — Houston-based investment firm Interra Capital Group has acquired a 323,431-square-foot office building located on a 21-acre site at 1311 Mamaroneck Ave. in White Plains, located north of New York City. Jeffrey Dunne, Steve Bardsley, Travis Langer, Patrick Arangio, Jack Howard and Kurt Altvater of CBRE represented the undisclosed seller and procured Interra Capital Group as the buyer in the transaction. The building was 53 percent leased at the time of sale.
NEWTON, N.J. — Locally based brokerage firm The Kislak Co. Inc. has negotiated the $22.5 million sale of a portfolio of three multifamily properties totaling 115 units in the Northern New Jersey community of Newton. Swartswood Gardens totals 32 units in one- and two-bedroom formats; Stonewood Apartments comprises 32 apartments in studio, one- and two-bedroom floor plans; and Mill Street Manor offers 51 residences in one-, two- and three-bedroom configurations. Joseph Keenan and Justin Lupo of Kislak represented the sellers, Red Knight Properties, in the transaction. The duo also procured the undisclosed buyer, which completed the purchase via a 1031 exchange.
SAUGUS, MASS. — Boston-based brokerage firm Atlantic Capital Partners has arranged the sale of a retail building formerly occupied by Sears that is located within Square One Mall in Saugus, a northern suburb of Boston. Justin Smith, Chris Peterson, Sam Koonce and Cole Van Gelder of Atlantic Capital Partners represented the buyer and seller, both of which requested anonymity, in the transaction.
AUSTIN, TEXAS; FLAGSTAFF, ARIZ.; AND CHARLESTON, S.C. — Global Student Accommodation (GSA) has completed the acquisition of a five-property student housing portfolio totaling over 1,600 beds. The seller was Harrison Street, an investment management firm headquartered in Chicago. The portfolio includes three assets in Austin, one in Flagstaff and one in Charleston. The price and names of the specific properties were not disclosed. Student housing provider Yugo will take on the management of all five assets immediately, with the aim of enhancing students’ overall experience throughout and beyond university and college life. The transaction gives GSA access to the new market of Charleston, which is rapidly becoming a tech hub and has seen its labor pool grow three times faster than the U.S. average since 2010. This growth is also reflected in student applications to the College of Charleston, which have increased 29.1 percent over that same time period. “These latest additions to our portfolio build on the momentum that we have had since entering the U.S. market at the start of 2021, where demand for student housing remains robust,” says Robin Moorcroft, transaction director of GSA. — Kari Lloyd
FRISCO, TEXAS — JLL has negotiated the sale of two warehouses totaling 244,364 square feet that are located within Star Commerce Center in Frisco. The rear-load buildings were delivered between 2020 and 2022 and feature 32-foot clear heights and roughly 15 percent office finishes. At the time of sale, the buildings were fully leased to tenants such as GEA Food Solutions and Vivint. Blue Star Land sold the property to Lincoln Property Co. for an undisclosed price. Dustin Volz, Stephen Bailey, Dom Espinosa, Zach Riebe and Matthew Barge of JLL brokered the deal.
EDINBURG, TEXAS — Marcus & Millichap has brokered the sale of Concord Plaza, a 44,850-square-foot retail center located in the Rio Grande Valley city of Edinburg. The property was built in 2018 and was 99 percent leased at the time of sale. Coleman Solomon, Joseph Blanga and Wes Peacock of Marcus & Millichap represented the seller, a developer, and procured the buyer, a private investor, in the transaction. Both parties requested anonymity, and additional terms of sale were not disclosed.
DALLAS — Refreshing USA, a provider of food-and-beverage vending products and services, has purchased a 35,000-square-foot industrial property located at 2709 Electronic Lane in Dallas. According to LoopNet Inc., the property was built in 1979. Alex Wilson of Lee & Associates represented Refreshing USA, which also plans to occupy the facility, in the transaction. The name and representative of the seller were not disclosed.
WHITE PLAINS, N.Y. — San Francisco-based Friedkin Property Group has acquired Windsor at the Gramercy, a 260-unit multifamily property located north of New York City in White Plains, for $113 million. Built in 2003, the property features one- and two-bedroom units that are furnished with stainless steel appliances, built-in workstations, breakfast bars, walk-in closets, full-sized washers and dryers and private balconies/patios. Amenities include a pool, fitness center, theater, clubhouse, billiards room and a dog park. Jeff Dunne, Eric Apfel, Jeremy Neuer, Stuart MacKenzie and Zach McHale of CBRE represented the seller, institutional investment firm GID, in the transaction.
NASHVILLE, TENN. — Capstone Land Sales has arranged the sale of an affordable housing development site located at 3720 Clarksville Pike in Nashville’s Bordeaux neighborhood. The buyer, a local development partnership led by Woodbine Community Organization, will build a mixed-used development at the site that will be anchored by 250 mixed-income apartments. The construction timeline for the apartment development was not disclosed. The parcel sits within a half-mile of the Cumberland River Greenway on the other side of the Cumberland River and the Whites Creek Greenway, which connects Hartman Park and Joseph Brown Mullins Park.