WESTLAKE, TEXAS — Terra Lounge has opened a 2,400-square-foot bar and restaurant at The Terraces, an eight-building, 1.1 million-square-foot office complex located north of Fort Worth in Westlake. Terra Lounge, which can accommodate about 100 people, offers beer, wine and cocktails, as well as appetizers, salads and gourmet pizzas. Chicago-based Glenstar purchased the property, which is home to office users like Goosehead Insurance and ECI Software Solutions, in 2019.
MIDDLETOWN, DEL. — Blenheim Group has broken ground on Bayberry Town Center, a 280,000-square-foot mixed-use project in Middletown. A 64,000-square-foot Weis Markets with a fuel facility will anchor the property. Other tenants at the development will include a bank, pet store, spa and nail salon. Construction on Weis Markets is scheduled to begin this fall, with the opening of Weis and several other tenants planned for 2025. Upon completion, the project will also feature office space, two green spaces, 145 townhomes and internal street and trail connectivity. Jim Tancredi of LMT Commercial is leasing the retail space.
PEABODY, MASS. — Colliers has arranged a $52.7 million loan for the refinancing of a 370,000-square-foot industrial property in Peabody, a northern suburb of Boston. The building is located within the Centennial Park development and houses the headquarters of an undisclosed e-commerce retailer. Barings provided the financing to a partnership between two Boston-based firms, Oliver Street Capital and Bain Capital Real Estate. The partnership plans to expand the property by 82,790 square feet, and the loan includes construction proceeds for that endeavor. John Broderick and Patrick Boyle led the debt placement efforts for Colliers.
NEW ROCHELLE, N.Y. — Cleveland-based multifamily developer The NRP Group has completed Renaissance at Lincoln Park, a 179-unit workforce housing project in New Rochelle, located north of New York City. Residences feature a range of income restrictions. The project included the construction of a 22,000-square-foot Boys & Girls Club facility with a gym, basketball court, recording studio, demonstration kitchen, administrative offices and other rooms for work and play. The NRP Group developed the project in partnership with Guion Renaissance Housing Development Finance Corp. (HDFC), Kensworth Consulting, The Boys & Girls Club of New Rochelle and The City of New Rochelle. Construction began in January 2021.
EAST SETAUKET, N.Y. — New York City-based Brixmor Property Group has acquired West Center, a 41,920-square-foot shopping center located in East Setauket on Long Island. The site along State Route 25A is adjacent to Brixmor’s Three Village Shopping Center and boasts a daily traffic count in excess of 18,000 vehicles. Grocer Wild by Nature anchors the property. Other tenants include Walgreens, Pure Barre, Starbucks and AT&T. The seller and sales price were not disclosed.
BRIDGEPORT, CONN. — Regional brokerage firm Northeast Private Client Group (NEPCG) has negotiated the $8.9 million sale of Birdseye Apartments, an 81-unit multifamily complex located in the southern coastal Connecticut city of Bridgeport. According to Apartments.com, the property was built in 1962 and offers studio, one- and two-bedroom units. Brad Balletto, Jeff Wright and Rich Edwards of NEPCG represented the seller in the transaction and procured the buyer, SPA Management Group.
TAMPA, FLA. — Suffolk plans to construct Gasworx, a mixed-use development in Tampa’s Ybor City, on behalf of the co-developers, Darryl Shaw and Kettler. The project will feature up to 5,000 residences, 500,000 square feet of office space and 140,000 square feet of shops, restaurants and service retailers. Suffolk will deliver multiple projects within the Gasworx development, including a 100-000-square-foot office building and a more than 500-space parking structure wrapped with a five-story residential building. Suffolk and the development team plan to break ground this summer.
LYONS, GA. — Oxford Industries Inc., an Atlanta-based clothing and apparel manufacturer whose brands include Tommy Bahama and Lilly Pulitzer, plans to develop a new large-scale distribution center in Lyons, a South Georgia city in Toombs County. The company will invest $130 million in the first phase of the project, which will sit on 50 acres and support 60 new jobs at full completion. Oxford Industries is an international apparel design, sourcing and marketing company that features a portfolio of lifestyle brands, over 300 company-owned retail stores and an e-commerce business. The company also has a complementary wholesale business through department and specialty stores. The manufacturer has had a physical presence in Toombs County since the 1940s. With the new Lyons facility, Oxford Industries expects to boost output from 7 million units annually to 20 million units. The construction timeline was not disclosed.
WASHINGTON, D.C. — A partnership between the District of Columbia Housing Authority (DCHA), MRP Realty, CSG Urban Partners LLC and Taylor Adams Associates is nearing completion of The Iris, a 430-unit apartment community located at 1133 N. Capitol St. NE in Washington, D.C.’s NoMa district. The public-private partnership, along with property management firm Greystar, began tours and accepting lease applications last month at the 380,000-square-foot property. The first move-ins will begin next week. The Iris is a 13-story community featuring studio, one-, two- and three-bedroom apartments, 20 percent of which will be reserved for households earning 60 percent or less of the area median income (AMI). Monthly rental rates start at $1,820, according to Apartments.com. Amenities include a rooftop pool, dog park, coworking space, fitness center, sports bar, outdoor kitchen, private dining room, reading library and a mail and package center, as well as two levels of subterranean parking. The design-build team includes general contractor CBG Building Partners and architectural firm Moya Design Partners. The Iris represents Phase I of the three-phase adaptive reuse of the former DCHA headquarters site.
HAGERSTOWN, MD. — A public-private partnership between Meritus Health and Radnor Property Group has begun construction on the Meritus School of Osteopathic Medicine campus in Hagerstown. The development is located on an existing Meritus hospital campus and will include six buildings anchored by a village green, which offer residential space and house the new school of medicine. The first phase of the project will include the development of three four-story buildings offering approximately 100 units each. The development is also set to include retail and office space, as well as a library and café. Residential buildings will offer a total of 600 beds of student housing in studio, one- and two-bedroom configurations. A portion of the project, which was designed in collaboration with Design Collective, is scheduled for completion in 2025.