HOUSTON — Locally based firm Moody National Development has broken ground on Silo Springs, a 346-unit multifamily project in West Houston that represents Phase I of a larger development. The 17-acre site is located at the northeast quadrant of I-10 and the Beltway, and the five-story building will offer one-, two- and three-bedroom units. Amenities will include a clubroom, fitness center, game lounge, business center, pool, courtyard, outdoor grilling and dining stations and a pet park. Architecture firm PVEDI (formerly EDI International) designed the project, and Arch-Con Corp. is serving as the general contractor. Completion is slated for mid-2028.
STILLWATER, OKLA. — Hanley Investment Group, a California-based brokerage firm, has arranged the $22.5 million sale of Lakeview Pointe Shopping Center, a 207,406-square-foot shopping center in Stillwater. Built on 24.7 acres in 2006, the center was 95 percent occupied at the time of sale to tenants such as Best Buy, Ross Dress for Less, Belk, Five Below and Petco. Jeff Lefko and Bill Asher of Hanley, in association with ParaSell Inc., represented the seller, a partnership between Rubenstein Real Estate Co. and a Kansas-based family office, in the transaction. Scott Taubin of The R.H. Johnson Co. represented the undisclosed buyer.
HOUSTON — Avison Young has negotiated an 88,601-square-foot industrial lease in northwest Houston. The tenant is oilfield equipment supplier STATS International, and the deal is for the entirety of Building U within the development at 6401 N. Eldridge Parkway. Anthony Squillante and Drew Coupe of Avison Young represented the tenant in the lease negotiations. John Ferruzzo and Jack Ferruzzo of KBC Advisors, along with Ryan Wasaff and Cole Bercher of Welcome Group, represented the landlord, Chicago-based Brennan Investment Group.
AUSTIN, TEXAS — Planet Fitness has opened a 21,000-square-foot gym in North Austin. Excel Fitness is the franchise operator of the new gym, which is located at 13729 N. Highway 183. The space will feature dedicated training and stretching areas, as well as a spa with tanning beds and recovery facilities. A grand opening ceremony took place on Friday, Feb. 27.
STAMFORD, CONN. — New York City-based owner-operator RFR has unveiled plans for the repositioning of 300 Atlantic Street, a 300,000-square-foot office building in Stamford. Plans call for 10,000 square feet of additional amenity space, including a new tenant lounge, as well as a new offering of prebuilt suites. RFR also plans to elevate the building’s food-and-beverage offerings and enhance other amenity spaces, including fitness and conferencing facilities, as well as to update building exteriors and streetscape design. Ownership has tapped Newmark to lease the building.
MATAWAN, N.J. — Pentaurus Properties, a New Jersey-based family office, has purchased a 124-unit apartment complex in Matawan, located in Central New Jersey. Marc Hampton Apartments is a garden-style complex that was built in the 1960s and offers one- and two-bedroom units across 11 buildings. Nat Gambuzza and Trevor Fiebel of Berkadia represented Pentaurus, which plans to implement a value-add program, in the transaction. Joseph Garibaldi, Thomas Walsh and Nick Vanderslice of Colliers represented the undisclosed seller.
NEW YORK CITY — Largo Capital, a financial intermediary based in upstate New York, has arranged a $26 million loan for the refinancing of a 99,897-square-foot shopping center in the Great Kills neighborhood of Staten Island. Regional grocer ShopRite anchors the center under a long-term lease. Kevin Coscia of Largo Capital arranged the financing through an undisclosed life insurance company. The borrower was also not disclosed.
NEW LONDON, CONN. — Locally based brokerage firm Chozick Realty has negotiated the $4.6 million sale of a 38-unit apartment complex in the coastal Connecticut city of New London. Garfield Avenue Apartments consists of two three-story buildings that exclusively house one-bedroom units. Jordan Pinto led the Chozick team that brokered the deal. The buyer and seller were not disclosed.
GOLETA, CALIF. — A recapitalization that included Majestic Asset Management, Praelium, Blackbird Investment Group and H.I.G. Capital has acquired Tech Park @ Goleta Portfolio, a Class A technology campus spanning five business parks in Goleta, from David Fradin for an undisclosed price. The campus features 17 buildings offering a total of 733,497 square feet of Class A space designed to accommodate office, flex, laboratory and industrial uses. Approximately 58 percent of the portfolio is dedicated to industrial and R&D space. Sean Fulp, Michael Kendall, Mark Schuessler, Gian Bruno, Kenny Patricia and Blake Hammerstein of Colliers, along with Francois DeJohn and Caitlin Hensel of Hayes Commercial Group, handled the transaction for both parties. CBRE’s Brad Zampa and Mike Walker provided debt and structured finance advisory services.
REDWOOD CITY, CALIF. — The Sobrato Organization has opened The Millton, an affordable housing community located at 900 Chestnut St. in Redwood City, with units designated for residents earning between 30 percent to 80 percent of the area median income. The Millton features 120 studio, one-, two- and three-bedroom apartments across five stories. Apartments offer wood plank flooring, 10-foot ceilings, pantry/entryway closets, soaking tubs, stainless steel energy-efficient appliances, stone countertops in kitchens and bathrooms, recessed lighting and private balconies in select units. Community amenities include a 24-hour fitness center, onsite laundry, a business center with computers and printing capabilities, outdoor living spaces with barbecues and a resident lounge with seating, media and kitchenette. Additionally, the property offers bicycle storage with a repair station, high-speed Wi-Fi, controlled access, assigned garage parking and a playground.
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