NEW YORK CITY — GreenBush Realty has purchased a mixed-use property at 626 Manhattan Ave. in the Greenpoint neighborhood of New York City for $3.3 million. The 4,050-square-foot building is fully occupied and tenants include a deli and pizza parlor on the ground floor. The previous owners recently upgraded the property. Deborah Gutoff, Gabriel Saffioti and Paul Nigido of Eastern Consolidated represented the seller, 626 Manhattan Ave. Corp., in the transaction. They also procured the buyer.
NEW YORK CITY — Rockrose Development Corp. has acquired a 19,475-square-foot development site in Manhattan's Hudson Yards area, where it has the ability to construct a 528-unit rental building. The site, located at 528-534 West 39th St., also allows for an additional 1 million square feet of commercial development. Rockrose purchased the parcel from Mercedes Benz. The land area Rockrose has accumulated at the site totals 73,793 square feet. Rockrose is evaluating its options for the site, including the development of a residential, office or hotel property. Howard Greenberg and Anne DeMarzo of Ace Capital represented Rockrose in the transaction. Michael Laginestra and Michael Geoghegan of CBRE Group represented Mercedes.
AMHERST, N.H. — Marmon Utility has purchased a 53,000-square-foot industrial and retail building on Route 101A in Amherst. Marmon Utility's local division, Hendrix Molded Products, plans to relocate its molding operations from Milford to the facility in Amherst. Jeanne Butler of NAI Norwood Group represented the seller, Ceratec Corp., in the transaction. Brad Vear of Vear Commercial represented the buyer.
DALLAS — Construction is under way on the first phase of Lake Highlands Town Center, a mixed-use development located in northeast Dallas. The first phase includes a 200-unit multifamily development and 7,450 square feet of retail. Prescott Realty Group and its equity partner, Austin-based Cypress Real Estate Advisors, are co-developing the project. The multifamily complex will feature a clubhouse, fitness center, resort-style pool and outdoor dining areas. The development is slated to feature a 20-acre park with public art, jogging trails and an outdoor amphitheater. The project was financed through a conventional HUD loan under the agreement that 20 percent of the units be made available for work force occupants such as entry-level teachers, firemen, police officers, private sector employees and entrepreneurs who earn 80 percent of the area's median income.
MINNEAPOLIS — The Opus Group will develop The Station on Washington, a student residential and retail complex on the University of Minnesota's East Bank campus. The six-story building will contain 11,200 square feet of ground-level retail space and 97 residential units. Amenities will include underground parking, a fitness center and study lounge space. Opus plans to begin construction on the building later this month, and the project is slated for completion in August 2013. Elness Swenson Graham Architects is the project architect.
PLANO — A public-private partnership between Franklin, Tenn.-based Southern Land Co., Chicago-based NXT Capital and the City of Plano have plans to develop a $30 million mixed-use development in downtown Plano. The transit-oriented development will feature 279 multifamily units and 9,000 square feet of retail space, including an urban 7-Eleven store. Residents of the development will have access to a fitness facility, swimming pool and be within walking distance of Historic Downtown Plano. The project is slated for a spring 2014 completion.
MINNEAPOLIS — Construction is under way on the site of the former Plymouth Center, a strip mall located just west of Highway 169 at 11305 State Highway 55 in Minneapolis. The Plymouth Center was demolished in July and crews have started work on The Waters of Plymouth, a 90-unit senior living community that will offer assisted living and memory care. The community is expected to open in June 2013. McDonald's is also expected to begin construction of a 2,600-square-foot restaurant on the site in April 2013. Oppidan Investment Co., which owns the site, is aiming to finalize the sale of the remaining parcel of land later this month for construction of a 48,000-square-foot medical office building.
SAN ANTONIO — USAA Real Estate Co. and Houston-based Cambridge Development Group have begun construction on The Residences at La Cantera, a high-end, 323-unit multifamily property located at 6215 Via La Cantera in San Antonio. The development will also include 4,000 square feet of retail space and a three-acre park with an urban plaza, lawn, playground, pond and shaded picnic areas. The development is the first phase of a mixed-use development called Town Center at La Cantera, which will feature hotel, office, retail and multifamily components. The development will eventually be linked to San Antonio's planned Leon Creek Hike & Bike Trail. The Residences at La Cantera will feature a clubhouse, cyber cafe, resort-style swimming pool, Jacuzzi, fitness center with yoga classrooms, an outdoor kitchen, fire pit and rooftop terrace. Dallas-based CF Jordan Construction served as general contractors, San Antonio-based Pape-Dawson Engineers served as the civil engineers, Looney Ricks Kiss Architecture designed the project, J. Robert Anderson was the landscape architect and San Antonio-based Riverstone Residential Group will manage the property upon completion. The property is designed to meet Texas Green certification standards.
NEW YORK CITY — A 5,940-square-foot mixed-use building at 149th 4th Ave. in Park Slope has sold for $2.12 million. Sheep Station, an Austrian pub, occupies the ground floor space. Adam Hess and Jacob Colleran represented both parties in the transaction.
FORT WORTH — Bradford Commercial Real Estate Services has arranged the sale of a 53,652-square-foot, mixed-use campus on 5.03 acres, located at 1520 Everman Parkway in Fort Worth. Karen Simon, Brian Scott and Kevin Santaularia of Bradford Commercial represented the seller, Avcor Health Care Products, in the transaction. Jordan Foster of Peyco Southwest Realty represented the buyer, Everman Independent School District.