LEWISVILLE — Bright Realty has begun development of the Castle Hills Village Shops, located at 2540 King Arthur Blvd. in Lewisville, that will add approximately 18,543 square feet for retail and restaurant space and 29,943 square feet of office space. The new phase is scheduled for spring 2013 completion.
NEW YORK CITY — A mixed-use building at 14-34 110th St. in Queens has sold for $10.1 million. The seven-story building, which was completed in 2006, includes 34 residential units, 23,585 square feet of office space and a 12,000-square-foot lobby. Amenities include a gym, laundry room, storage room and roof deck. The property is located on the College Point waterfront and has the potential to add a marina development with 50 boat slips. Stephen Preuss and Evan Daniel of Massey Knakal represented both parties in the transaction.
ELIZABETH, N.J. — Gebroe-Hammer Associates recently closed two transactions for a combined $3.5 million in Elizabeth. Stephen Tragash of Gebroe-Hammer represented the buyer and seller in the $1.7 million sale of a 19-unit apartment building at 547-555 S. Broad St. The three-story, all-brick building is within walking distance of mass transit and shopping. Tragash also represented both parties in the $1.8 million sale of a 20-unit apartment building at 150-152 Elmora Ave. The property also features ground-floor retail.
DALLAS — True Food Kitchen will open its seventh restaurant at The Plaza at Preston Center, a five-story mixed-use building being developed in Dallas. The 5,915-square-foot location will be the restaurant chain's first Texas restaurant. True Food Kitchen is owned by Fox Restaurant Concepts. Mike Geisler and Easley Waggoner of Venture Commercial represented the landlord in the lease transaction. Jack Breard of UCR Realty represented the tenant. The restaurant will open in a new building on the ground level in the first quarter of 2013. The second level will be the new home of the University Park public library and the top three floors will be office space.
NEW YORK CITY — Silverstone Property Group has acquired a pair of mixed-use buildings at 143-145 W. 4th St. in the Greenwich Village Historic District of New York City for $11.3 million. The five-story buildings total 21,364 square feet and include 26 apartments. Of the 26 units, six are rent stabilized. James Nelson, Mitch Levine, Caroline Hannigan and Matt Nickerson represented the seller in the transaction.
HARRISON, N.J. — Meridian Capital Corp. has arranged $49 million in permanent financing for the recently constructed Harrison Station multifamily building in Harrison. The four-story multifamily complex includes 275 luxury apartments and seven retail spaces along Frank East Rogers Boulevard Harrison Building 1 Urban Renewal, a joint venture between Ironstate Holdings and The Pegasus Group, is developing the property. David Cohen and Russ Drebin of Meridian Capital Group negotiated the 10-year Freddie Mac loan.
MURRAY, UTAH — Parley’s Partners has begun construction on Birkhill on Main, a new $45-million mixed-use development in Murray. It will be located at 4255 South Main Street. The project will include 311 luxury apartment homes, as well as a three-story office building upon build-out. Phase I will feature 137 units, including 41 market-rate and 96 affordable housing units in a five-story building. Phase II, set to commence in June 2013, will add 65 more units. Phases III and IV will include 109 additional units and a 35,400-square-foot office building, respectively. The first three phases are expected to be complete by 2016, with Phase I wrapping up in March 2013. Phase IV’s completion will be based upon pre-leasing. The eco-friendly, transit-oriented project is being built by Kier Construction and designed by KTGY Group.
MERCER ISLAND, WASH. – A 171-unit, Class A mixed-use property on Mercer Island has received a $53.9-million permanent loan. The apartment community also features 17,000 square feet of retail space. The property was built in 2009 along the island’s main thoroughfare. Mercer Island sits on Lake Washington, which is between Seattle and Bellevue. The loan was arranged by Amos Smith and Ryan Chapman of Johnson Capital’s Irvine office. The funds were provided by Fannie Mae. The new non-recourse loan will replace a construction loan. It has a fixed interest rate during the 10-year term.
SCARSDALE, N.Y. — L&B Realty Advisors has purchased 7 and 17 Popham Roade, a two-building retail, medical and recreational-use building in Scarsdale. The 38,510-square-foot property is adjacent to the Scarsdale Metro North train station and is 20 miles north of New York City. The buildings are fully leased and tenants include CVS/pharmacy and Webster Bank. Andrew Scandalios, Jose Cruz, Jeffrey Julien and Kevin O'Hearn led the HFF team that represented the sellers, F&R Popoham LLC and F&R Constitution LLC.
NACOGDOCHES — North Village Market, a three-phased, mixed-use development located in Nacogdoches, has broken ground. The first phase of 4,500 square feet is slated to open in the fall of 2013, with another 8,000 square feet expected to open in the next two phases. Newk's will anchor the property, and North Village Market LLC, a division of Nacogdoches-based Jones Enterprises LTD, owns the development. Nacogdoches-based Army Curtis designed the project to include a tree-lined boulevard, a roundabout circling a large Texas flag, benches and walkways with antique street lights.