CHICAGO — Baum Realty Group LLC has brokered the $3.4 million sale of a mixed-use property in Chicago’s Bucktown/Wicker Park neighborhood. The 8,368-square-foot building is located at 1747- 1749 N. Damen Ave. Greg Dietz, Danny Spitz and Adam Secher of Baum represented the buyer, Repak Real Estate Acquisition LLC. The seller was undisclosed.
THE WOODLANDS, TEXAS — The Howard Hughes Corp. and The Woodlands Development Co. have begun construction on a 205-room, nine-story Embassy Suites Hotel at Hughes Landing, a 66-acre mixed-use development in The Woodlands. Hughes Landing is located on Lake Woodlands, 30 miles north of Houston. The project offers retailers, dining, entertainment, apartments and Class A office space. The 172,000-square-foot hotel is scheduled for completion in late 2015. Amenities will include 3,000 square feet of meeting and event space, a business center, bar, restaurant and a 4,000-square-foot rooftop pool deck overlooking Lake Woodlands.
FORT WORTH — Trademark Property Co., in partnership with Sarofim Realty Advisors, has acquired 63 acres of infill land located on the Trinity River at Bryant Irvin Road and Arborlawn Drive in Fort Worth. The property will become Waterside, a new mixed-use development. Phase I of construction at Waterside begins Oct. 20 and will include anchor tenant Whole Foods Market, along with retail, restaurants and 375 multifamily rental homes built by Transwestern Development Co. When completed, Waterside will include 200,000 square feet of retail space and restaurants, 20 acres of residential properties, 200,000 square feet of office space and a hotel. Phase I is scheduled to open in the spring of 2016.
NEW YORK CITY — TerraCRG has brokered the sale of a three-building mixed-use portfolio in Brooklyn’s Prospect Lefferts Gardens neighborhood. The buildings sold for $4.75 million or $284 per square foot. Located at 608-612 Flatbush Ave., the 16,749-square-foot portfolio offers 21 residential units and three commercial spaces. Adam Hess, Sam Shalumov, Chris Pechlivanides and Edward Setton of TerraCRG handled the transaction.
KANSAS CITY, MO. — Gailoyd Enterprises Group has sold The Power & Light Building to NorthPoint Development for an undisclosed sales price. The historic office tower, located at 106 W. 14th St. in downtown Kansas City, will be converted to a mixed-use development with 200 apartments. The sale included the 285,000-square-foot building and approximately one acre of adjacent land on the north side of the building. The land will be utilized for parking and 70 new apartment units for a total of 270 new units. The building currently is vacant. Riverside, Mo.-based NorthPoint plans to begin construction immediately. Gib Kerr of Cassidy Turley represented Carmel, N.Y.-based Gailoyd Enterprises in the transaction.
YORKTOWN, N.Y. — GHP Office Realty has acquired two properties totaling 351,811 square feet of mixed-use space in Yorktown. The 209,000-square-foot property at 2649 Strang Blvd. is occupied by ENT & Allergy Associates, Hudson Valley Hematology, North Shore-Long Island JHS, Northern Westchester County Dental, Hudson Valley Oral Surgery and Dialysis Clinic Inc. The one-story, 142,811-square-foot building at 2651 Strang Blvd. is home to Mercy College’s Yorktown campus. In total the buildings are 40 percent occupied. Andrew Greenspan, Jamie Schwartz, Mike Cinicolo, Andrea Lofaro and Harrison Lyss provided in-house representation for GHP Office Realty in the transaction. Elizabeth Smith of Goldberg Weprin Finkel Goldstein LLP provided legal counsel and Jim Maloney of The Great American Title Company provided title services for GHP. Additional details of the transaction were not released.
NEW YORK CITY — Rosewood Realty Group has brokered the sale of a six-story mixed-use building located at 183-187 Avenue C in Manhattan’s Alphabet City neighborhood. Darwin Management sold the 24,534-square-foot building to Nader Shalom, a private investor, for $18.4 million. Built in 1910, the property features 43 residential units and three commercial units, which are occupied by Cafetico, a dry cleaner and a bodega. Additionally, the building features 1,090 square feet of air rights. Aaron Jungreis of Rosewood Realty Group represented both the buyer and seller in the deal.
INDIANAPOLIS — Milhaus Construction LLC has opened Phase I of Circa, a new Chatham-Arch historic district apartment development in Indianapolis. The $31 million project was built on the site of the former Mitchel & Scott Machine Co. at 617 N. College Ave. Circa includes 265 units, which consist of a mix of studios, one-, two- and three- bedroom units in five new apartment buildings. Three of the buildings are four stories high with private tuck-under parking garages. The other two buildings are five stories and include first floor open-air parking garages. Rents range from $900 to $2,500 per month. Construction on Phase II began earlier this summer on a half-acre site just north of Phase I. The four-story building will feature 29 apartments and 1,000 square feet of ground floor commercial space. Construction is expected to be complete by early summer of 2015. Milhaus Management LLC will manage the property. Milhaus Construction built the project. Milhaus, Blackline Studio for Architecture, Anderson + Bohlander Landscape Architecture and CEC Engineering collaborated on the design. Regions Bank provided the construction loan.
RALEIGH, N.C. — Lowe Enterprises Investors (LEI) has teamed up with Blue Ridge Realty to develop The Gramercy, a 203-unit multifamily property located at 401 Glenwood Ave. in Raleigh’s Glenwood South neighborhood. The community will sit atop 6,900 square feet of ground-floor retail space and a 260-space parking garage. Wells Fargo provided a $26 million construction loan, which was arranged by Howard Brooks of Medalist Capital. The six-story building will offer studio, one- and two-bedroom apartments with granite countertops, stainless steel appliances, nine-foot ceilings and individual balconies. Amenities include a clubhouse with a kitchen and lounge area, resort-style pool and a business center. The design team includes architect J. Davis and general contractor Choate Construction. Construction of the project has begun this week.
SAN ANTONIO — An unnamed buyer has purchased the 648-acre Black Buck Ranch in northwest San Antonio. The property will be developed into a master-planned community and features elevated land with views of downtown San Antonio and the surrounding area. The property borders the Palmira & Anaqua Spring Ranch developments. Taylor Schmidt and Reed Vestal of TNRG represented the buyer. Asher Reilly of Land Advisors Organization represented the seller.