HOFFMAN ESTATES, ILL. — SVN Chicago Commercial has brokered the $3.7 million sale of a 7.2-acre development site at 2350 W. Higgins Road in Hoffman Estates. The property, located adjacent to a 101,769-square-foot shopping center, is slated for the construction of approximately 300 luxury apartment units. Wayne Caplan and Al Lindeman of SVN Chicago Commercial represented the sellers, Dutch-based Depa Holding Co. and its U.S. partner Caruso Development. An entity of Chicago-based Synergy Construction Group was the buyer. Originally zoned for commercial use, the site is the former home of a Kmart store and a Menard’s store. In addition to rezoning to accommodate residential use, the Village of Hoffman Estates also approved a new residential-oriented redevelopment and tax-increment financing (TIF) agreement. The village restructured a previous TIF agreement with the adjacent properties owned by the sellers.
BOSTON — Shaving products company P&G Gillette has unveiled plans to purchase 232 A Street in South Boston as the future home of its nearly $1 billion Grooming Headquarters and Technical Innovation Center. The company is also expanding its Andover, Mass., manufacturing facility and redeveloping its 31-acre South Boston campus. The new headquarters announcement marks the single-largest investment made by Gillette in Boston, according to the company. The site is currently owned by Breakthrough Properties, a joint venture between Tishman Speyer and Bellco Capital. It is permitted for a 324,315-square-foot research-and-development facility with ground-floor retail space. Jonathan Varholak of CBRE led the brokerage team that facilitated the land sale. Gillette says the purchase of the site unlocks multiple project benefits agreed to when the site was permitted by Breakthrough Properties in 2024. Once complete, the project will contribute 1.5 acres of publicly accessible open space along the Fort Point Channel, including new sidewalks, bike lanes, a waterfront park and improvements to the South Boston Harborwalk. The parcel also includes monetary allocations for public art and shuttle services. “This new development will keep hundreds of high-tech research-and-development jobs in the city and serves as a testament to the strength of our …
SAN ANTONIO — An affiliate of Miami-based investment firm Atlantic Pacific Cos. has acquired Reserve at Canyon Creek, a 314-unit apartment community in San Antonio. Reserve at Canyon Creek is located on the city’s northwest side and offers one-, two- and three-bedroom units that range in size from 676 to 1,657 square feet. Amenities include a pool, fitness center, resident clubhouse and a pet park. The new ownership plans to implement a multimillion-dollar renovation program that will upgrade unit interiors, enhance amenity spaces and deliver exterior building improvements. The seller and sales price were not disclosed.
TEXAS CITY, TEXAS — Florida-based real estate private equity firm Eastham Capital has sold Stone Ridge, a 248-unit apartment complex in Texas City, a southeastern suburb of Houston. The property offers one- and two-bedroom units with an average size of 446 square feet. Amenities include a pool, clubhouse, fitness center and a basketball court. Eastham acquired the property in 2018 in a joint venture with Mosaic Residential and subsequently implemented capital improvements. The buyer and sales price were not disclosed.
BOERNE, TEXAS — JLL has brokered the sale of Oxbow Hill Country, a 172-unit apartment complex in Boerne, located northwest of San Antonio. Built on 6.8 acres in 2003, the nine-building property offers one-, two- and three-bedroom units and amenities such as a pool, fitness center, dog park and outdoor grilling and dining stations. Robert Wooten, Robert Arzola and Ryan McBride of JLL represented the seller, California-based Brixton Capital, in the transaction. The buyer was Steadfast Cos.
WASHINGTON, D.C. — Stream Realty Partners has arranged the sale of Watergate 600, a 12-story, 316,000-square-foot office building located at 600 New Hampshire Ave. N.W. in Washington, D.C.’s East End district. The buyer and sales price were not disclosed, but the Washington Business Journal reports that an affiliate of locally based Jetset Hospitality purchased the building for $52.5 million. Elme Communities, formerly known as Washington Real Estate Investment Trust, sold the property amid liquidating all of its assets and dissolving its business, according to the Washington Business Journal. Matt Pacinelli, Charlie Smiroldo and Lukas Stanat of Stream Realty represented Jetset in the transaction, while JLL represented the seller. The new owner has tapped Pacinelli, along with Tim McCarty, John Klinke and Josh McDonald of Stream Realty, to handle leasing at Watergate 600, which has a 125,000-square-foot top-block office space available. Amenities at the waterfront office building include a wraparound terrace on the seventh floor offering views of the Potomac River, a new lobby designed by LSM, new conference and event facilities, a modern fitness center and newly updated windows and elevators.
MORRISVILLE, N.C. — Foxfield has purchased 3503 Page Road, a newly built, 57,000-square-foot life sciences building located in Morrisville, about 14 miles west of Raleigh. The seller and sales price were not disclosed. Kryosphere, a biorepository solutions and cold chain logistics user, operates the facility under a 12-year net lease. The company has invested $5 million into the specialized build-out for pharmaceutical-grade cold storage infrastructure, with plans for an additional $5 million investment for equipment upgrades, according to Foxfield. Built in 2025, 3503 Page Road is situated within the World Trade Park industrial park and offers direct connectivity to I-40, I-540 and Raleigh-Durham International Airport. The building features industrial space, lab support and research-and-development space, as well as 24-foot clear heights.
LAWRENCEVILLE, GA. — Sands Investment Group has brokered the $23.4 million sale of River Exchange Shopping Center, a 273,023-square-foot, Kroger-anchored shopping center located in Lawrenceville, roughly 30 miles northeast of downtown Atlanta. Liam Rowan and Tyler Baughman of Sands represented the seller, a joint venture between BASH Capital, Dragonfly Investments and Baltimore-based America’s Realty LLC, and the buyer, an entity doing business as Vishal River Exchange LLC, in the transaction. SouthState Bank provided acquisition financing. River Exchange was 80 percent leased at the time of sale to tenants including Goodwill, ReStore, Citi Trends, Cato Fashions, Farmers Furniture, Subway, Riverside Pizza and Cosmetic Dental.
ROCKY HILL, CONN. — Marcus & Millichap has negotiated the $14.3 million sale of Big Y Plaza, a 60,497-square-foot shopping center in Rocky Hill, located south of Hartford. Built on 14 acres in 1988, the center was fully leased at the time of sale to the namesake grocer and Wells Fargo. Joseph French Jr., Jeffrey Stearney and John Krueger of Marcus & Millichap represented the Connecticut-based seller in the transaction and procured the buyer, a New York-based investor. Both parties requested anonymity.
FORT COLLINS, COLO. — California-based Granite Capital Group has sold Enclave Rigden Farm, a multifamily property in Fort Collins, to Avanti Residential for $40.8 million, or $389,285 per unit. Located at 2758 Iowa Drive, Enclave Ridge Farm features 105 townhome-style apartments with direct access to car garages and private patios. Built in 2007, the property was 95 percent occupied at the time of sale. Robert Bratley, Jack Sanders, Mike Grippi and Pamela Koster of Berkadia represented the seller in the transaction. The Berkadia team also arranged financing for the deal.