CARROLLTON, TEXAS — Lee & Associates has negotiated the sale of a 150,268-square-foot industrial property in the northern Dallas metro of Carrollton. The site at 1235 W. Trinity Mills Road spans 12.4 acres. Corbin Blount of Lee & Associates represented the seller, an undisclosed, locally based limited liability company, in the transaction. Chris Beggins and Adam Graham, also with Lee & Associates, represented the buyer, an entity doing business as CUI Properties — TX.
LORENA, TEXAS — Marcus & Millichap has brokered the sale of Lorena Mini Storage, a 122-unit self-storage facility located about 15 miles south of Waco. The facility spans 22,794 net rentable square feet. Danny Cunningham and Brandon Karr of Marcus & Millichap represented the seller, a private investor based in the Dallas-Fort Worth area, in the transaction. The duo also procured a locally based investment group as the buyer. The sales price was not disclosed.
CONROE, TEXAS — Grace Management Inc., a subsidiary of CPF Living Communities, has opened The Lakes at Woodhaven Village, an active adult community in the Houston suburb of Conroe. This is Grace’s first active adult community, as the company traditionally focused on seniors housing. The 130,000-square-foot community is situated on approximately five acres and totals 115 units. Padua Realty Co. is developer on the project, and its affiliated construction company, Dorado Builders, was the general contractor. Other project partners include Investwell Architects, Lizabeth Jones Interior Design and Jordan & Skala Engineers. The community complements the existing 168-unit Woodhaven Village campus, consisting of 27 independent living cottages, 60 independent living units, 61 assisted living units and 20 memory care units.
ELGIN, TEXAS — General contractor Satterfield & Pontikes has broken ground on an 84,200-square-foot academic project for the Independent School District of Elgin, an eastern suburb of Austin. Designed by Pfluger Architects, Trinity Ranch Elementary will feature an above-average-sized gym, enhanced security measures, an interior courtyard and a media center. The school will be able to accommodate up to 850 students and is expected to be complete in time for the fall 2025 semester.
CHATHAM, N.J. — Northwestern Mutual has provided a $103 million loan for the refinancing of The Ivy, a 245-unit apartment building located in the Northern New Jersey community of Chatham. The newly constructed building offers one-, two- and three-bedroom units with an average size of 1,158 square feet. Amenities include a pool, outdoor lounge, multipurpose lawn, media screening room, private BBQ and dining areas, a fitness center, multiple social lounges, coworking lounges with private offices, sports simulators, a kids’ playroom and a dog run. Michael Klein, Thomas Didio Jr. and Ryan Carroll of JLL arranged the 10-year, fixed-rate loan on behalf of the borrower, locally based developer BNE Real Estate Group.
ST. LOUIS — ARCO Construction Co. is underway on The Rail, a 268-unit apartment complex in St. Louis. The 278,500-square-foot, four-story development will feature studio, one- and two-bedroom floor plans. Amenities will include a courtyard, pool, grilling area, game lounge, group fitness studio, gathering kitchen and three-story parking garage. Completion is slated for this fall. HDA was the architect for the $61 million project.
ONEIDA TOWNSHIP, MICH. — University of Michigan Health has unveiled plans to purchase an 11-acre site near Lansing for a new healthcare center. The purchase price is $2 million, and funding will be provided from U-M Health reserves. The site is at 5677 E. Saginaw Highway in Oneida Township and consists of a former CARite dealership. University of Michigan Health-Sparrow will operate the new ambulatory care center, which is expected to house both primary and specialty care offerings, including radiology and rehabilitation services. Further details regarding construction were not provided.
GRAYSLAKE, ILL. — Peak Construction Corp. has broken ground on a 203,257-square-foot industrial expansion for OCM Inc. in Grayslake, about 40 miles north of downtown Chicago. Upon completion, OCM will occupy 337,208 square feet. The addition features a clear height of 30 feet, 10 dock doors, three drive-in doors and 115 car parking spaces. Completion is slated by the end of the year. Cornerstone Architects and Manhard Consulting make up the project team. OCM is a subsidiary of OKABE Co. Ltd., which was founded in 1917 in Japan as a full-service manufacturer and distributor of concrete construction supplies.
REVERE, MASS. — Regional developer Redgate is underway on construction of Gibson Point, a 291-unit apartment community in the Boston suburb of Revere. Gibson Point will offer studio, one-, two- and three-bedroom units. Amenities will include a fitness studio, sauna and cold plunge pools, recovery room, private coworking areas and a lounge with an indoor/outdoor bar, deck and fully equipped kitchen. The property will also feature an onsite restaurant and immediate access to the nearby Gibson Park. Preleasing will begin on June 1, with the first move-ins commencing in September.
SIOUX FALLS, S.D. — GSI has opened The Parkwood, a 133-unit active adult community in Sioux Falls near both the Iowa and Minnesota borders. GSI began preleasing units at The Parkwood in 2023. GSI and its stakeholder team serve as The Parkwood’s developer, property manager and co-owners in partnership with financial partners. GSI is an affiliate of Transforming Age, a national nonprofit organization serving older adults. Omaha-based Ronco Construction was the general contractor.