SPRING, TEXAS — Houston-based Silvestri Investments Inc. has purchased a 38,000-square-foot retail building in Spring, a northern suburb of Houston, that is leased to 24 Hour Fitness. The building was constructed on 2.3 acres in 2019 within the CityPlace mixed-use development, and the gym includes a pool and basketball court. Ryan West, John Indelli, Alex Geanakos, Nick Franklin, Gianna New and Torri Rosene of JLL represented the undisclosed seller in the transaction and procured Silvestri Investments as the buyer.
TOMBALL, TEXAS — Colliers has brokered the sale of a 16,141-square-foot industrial flex building in the northeastern Houston suburb of Tomball. The building at 2121 Persimmon St., which is located on 2.5 acres within Tomball Business & Technology Park, was completed in 2023, according to LoopNet Inc. Tom Condon Jr. of Colliers represented the seller, KTB Properties LLC, in the transaction. Al Gosen of Texas United Realty represented the buyer, an entity doing business as W E Mauney LLC.
ARLINGTON, VA. — Shoreham Capital has purchased Infinity Apartment Homes, a multifamily community in Arlington, for $51 million. Located within the Columbia Pike Corridor near Amazon’s HQ2 project, the property features 227 units in a mix of studio, one-, two- and three-bedroom layouts. Amenities at Infinity Apartment Homes include a swimming pool, fitness center, resident lounge, bike storage, package lockers and a business center. Robert Dean and Jonathan Greenberg of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the undisclosed seller in the transaction. Cameron Chalfant and Tyler Johnson of IPA arranged a $35 million acquisition loan on behalf of Shoreham. The property recently underwent significant upgrades to unit interiors, security systems, fixtures and finishes.
CHARLOTTE, N.C. — JLL Capital Markets has secured a $43.6 million loan to finance the construction of McAlpine Vista, a new multifamily development to be located on 14.8 acres at 8011 Krenfeld Drive in Charlotte. Matthew Schoenfeldt of JLL arranged the three-year, non-recourse, floating-rate loan through Hartford Investment Management Co. (HIMCO) on behalf of the borrower, Vista Residential Partners. Upon completion, which is scheduled for September 2026, McAlpine Vista will comprise 320 apartments, with one-, two- and three-bedroom layouts. Amenities at the community will include a 7,750-square-foot clubhouse with a fitness center, coworking spaces and a club room, as well as a swimming pool.
SUWANEE, GA. — Dermody Properties has acquired 3851 Lakefield Drive and an adjacent 10-acre parcel in Suwanee, approximately 30 miles northeast of Atlanta. Florida Food Products LLC sold the property, which features an existing 61,000-square-foot logistics facility, for an undisclosed price. Matt Wirth and Jim Freeman of JLL Capital Markets represented the seller in the transaction, and Dermody Properties was self-represented. Florida Food Products previously occupied the property and is consolidating operations at another regional facility. The building features upgraded office space, a 10-inch floor slab and a 105-mil roof. Additionally, Dermody Properties will develop a new, 93,320-square-foot logistics facility on the unoccupied land parcel. Construction is scheduled to begin early next year, and the building will be available for occupancy in the fourth quarter of 2025.
SANDY SPRINGS, GA. — Global Real Estate Advisors (GREA) has brokered the $36.7 million sale of Aqua Sandy Springs, an apartment community located at 100 Greyfield Lane in Sandy Springs, roughly 15 miles outside Atlanta. An entity doing business as Sandy Springs Residences II LLC acquired the property from an entity doing business as 29SC RN Property Owner LLC. Chandler Brown, Cory Sams and Taylor Brown of GREA represented the seller in the transaction. Built in 1985 and 2000, Aqua Sandy Springs features 219 units in one-, two- and three-bedroom floorplans. The new owner plans to implement a value-add program at the property, which is situated near Atlanta’s Central Perimeter district, downtown Roswell and Alpharetta.
ORLANDO, FLA. — Marcus & Millichap has arranged the $10.8 million sale of Turkey Lake Plaza, a retail center located at 7858 Turkey Lake Road in Orlando. Built in 2010, the property totals 19,719 square feet. Turkey Lake Plaza was leased to 12 tenants at the time of sale, including Gyu-Kaku Japanese BBQ. Tarek Chbeir of Marcus & Millichap procured the buyer, a local investor, in the transaction. The seller was also not disclosed.
JERICHO, N.Y. — PX4 Development has completed a $15 million student housing conversion project on Long Island. The project converted a former 80-room hotel in Jericho into a 79-unit, 188-bed resident hall for students at The New York Institute of Technology. Units come in one-, two- and three-bedroom floor plans, and amenities include private and communal study spaces, lounge and recreation areas and an indoor pool. TPG Architecture designed the project, construction of which began last October.
VOORHEES, N.J. — New York City-based investment firm Montana Property Group has purchased Echelon Village Plaza, an 84,933-square-foot shopping center located in the Southern New Jersey community of Voorhees. The center was 92 percent leased at the time of sale to tenants such as Edge Fitness, Dollar Tree and Buffalo Wild Wings. Ohio-based REIT Site Centers sold the property for $8.5 million. Boston-based Atlantic Retail brokered the deal.
HACKENSACK, N.J. — Cole Schotz PC has signed a 61,582-square-foot office lease renewal in the Northern New Jersey community of Hackensack. The law firm will remain at Court Plaza North, a 335,000-square-foot complex located in the city’s downtown area, where it has been a tenant since 1986, for an undisclosed period of time. New Jersey-based investment firm Alfred Sanzari Enterprises owns Court Plaza North. No third-party brokers were involved in the lease negotiations.