DURHAM, N.C. — Driftwood Capital has purchased Marriott Raleigh Durham Research Triangle Park, a 225-room hotel located in North Carolina’s Research Triangle area. Built in 1988 at 4700 Guardian Drive in Durham, the hotel marks Driftwood’s third acquisition in the state. Franklin BSP Realty Trust originated a two-year loan with three one-year extension options for the acquisition on behalf of Driftwood Capital. The buyer plans to implement $9 million of renovations at the property, with planned improvements including upgrades to the guest rooms, a new central air system and the introduction of amenities such as a lounge and expanded fitness center.
GOOSE CREEK AND MONCKS CORNER, S.C. — Berkadia has arranged the sale of two multifamily communities totaling 144 units in metro Charleston. The properties, which comprise 72 units each, include Epson Oaks and Churchill Apartments. Faris Capital Partners acquired the communities from Napali Capital for an undisclosed price. Mark Boyce of Berkadia represented the seller in the transaction. Built in 2008, Churchill Apartments is located at 601 Old State Road in Goose Creek. Epson Oaks was built in 2003 and is located at 2000 Epson Plantation Drive in Moncks Corner.
SPARTANBURG, S.C. — Colliers Mortgage has secured an $8.9 million loan for the refinancing of Northside Townhomes in Spartanburg. The 47-unit property features three-bedroom townhome residences. Amenities at the community include attached garages for select units, off-street parking and access to the Hub City Farmers Market. Bill Mattice and Phillip Cox of Colliers Mortgage orginated the 35-year financing on behalf of the borrower, an entity doing business as Spartanburg RE Investments LLC.
HASLET, TEXAS — Mainfreight, a logistics company based in New Zealand, has signed a 62,000-square-foot industrial lease in Haslet, a northern suburb of Fort Worth. The site at 112 Harmon Road spans 21.3 acres. The build-to-suit facility will feature 24-foot clear heights, 86 dock doors, 20,000 square feet of office space and ample trailer parking. An affiliate of Chicago-based Timber Hill Group and Champion Realty Advisors own the site and expect to complete construction of the facility by the end of the year. CBRE represented Mainfreight in the lease negotiations, and Lee & Associates represented ownership.
COLLEGE STATION, TEXAS — REI Co-op will open a 21,732-square-foot store at 615 University Drive E in College Station. The store, which will be situated adjacent to a Crunch Fitness facility, will be the outdoor apparel and equipment retailer’s 11th in Texas. The store will house a full-service bike shop and is expected to employ about 40 people. The opening is slated for the fall.
COLLEGEVILLE, PA. — A partnership between David Werner Real Estate Investments (DWREI) and GreenBarn Investment Group has begun the redevelopment of The Bridge at Collegeville, a 14-building, 1.8 million-square-foot office campus located about 20 miles northwest of Philadelphia. The development team, which includes architect EwingCole and leasing agent Cushman & Wakefield, plans to renovate the existing office space on the 340-acre campus and to add another 1.4 million square feet of office, life sciences and manufacturing space. The redevelopment will also add amenities such as a fitness center, golf simulator, pickleball courts and a food truck plaza. The partnership purchased the property in August 2023 from Pfizer, which remains a tenant. In addition, chemical manufacturer Dow recently signed a long-term lease extension at the campus. A timeline for completion was not disclosed.
HAZLETON, PA. — Kansas City-based NorthPoint Development will build a 1 million-square-foot industrial project in Hazleton, located roughly midway between Allentown and Scranton in Luzerne County. The building will feature a clear height of 40 feet, 100 docks, four drive-in doors and parking for 839 cars and 360 trailers. The design team includes studioNorth Architecture and designBLD. Peak Construction Corp. is the general contractor. Completion is slated for the first quarter of 2025.
JERSEY CITY, N.J. — JLL has negotiated the $54 million sale of a 1.7-acre multifamily development site located at 107 Morgan St. in Jersey City. The site is approved for the development of 650 apartments and ground-floor retail space. Jose Cruz, Ryan Robertson, Michael Oliver, Steve Simonelli and Elizabeth DeVesty of JLL represented the seller, Veris Residential, in the transaction. The team also procured the buyer, locally based developer LCOR. A timeline for completion was not disclosed.
ALBANY, N.Y. — An affiliate of New Jersey-based Heidenberg Properties has acquired At Colonie Center, a 243,395-square-foot retail center in Albany for $28 million. Whole Foods Market anchors the property, which was 58 percent leased at the time of sale. Other tenants include Floor & Decor and Sierra Trading Post. Justin Smith, Chris Peterson, Sam Koonce and Danielle Donovan of Atlantic Capital Partners represented the undisclosed seller in the transaction and procured Heidenberg Properties as the buyer. Scott Aiese and Stephen Van Leer of JLL arranged a $17.6 million acquisition loan through Provident Bank on behalf of Heidenberg.
NEWINGTON, CONN. — Marcus & Millichap has brokered the $16.7 million sale of Newington Commons, a 189,864-square-foot shopping center located just south of Hartford. Anchored by grocer Stop & Shop, the center was 65 percent leased at the time of sale. Other tenants include Petco and Planet Fitness. Joseph French Jr. and Kodi Traver of Marcus & Millichap, in conjunction with Pierre Bonan of Mission Capital, represented the seller, Trident Pacific Real Estate Group, in the transaction. The team also procured the undisclosed buyer.