NEWPORT BEACH, CALIF. — Newport Beach-based Graystone Capital Advisors has negotiated the $12 million sale of a portfolio of 7-Eleven properties located throughout North Carolina and Virginia. A Texas-based developer sold the portfolio, which comprises seven newly constructed locations. 7-Eleven occupies the properties on 15-year leases. Shannon Bona and Julius Swolsky of Graystone represented the 1031-exchange buyer in the transaction.
IRVING, TEXAS — An affiliate of Edged Energy, a global data center developer and operator whose U.S. headquarters is based in Connecticut, is underway on construction of a 168,000-square-foot facility at 505 N. Wildwood Drive in Irving. The data center will have a critical power capacity of 24 megawatts. Construction is scheduled for a fall completion. The facility is one of about a dozen in Edged Energy’s development pipeline across Europe and North America.
FULTONDALE, ALA. — SRS Real Estate Partners has arranged the $6.6 million sale of a single-tenant retail property located at 3321 Lowery Park in Fultondale, a suburb of Birmingham. The tenant, Ashley Furniture, purchased the store exercising its right of first refusal. Situated on four acres and built in 2007, the store serves as an outparcel to Promenade Fultondale, a shopping center anchored by Target. Matthew Mousavi and Patrick Luther of SRS Real Estate’s Newport Beach office, along with Martin Smith of the firm’s Birmingham office, represented the privately based seller in the transaction.
EDMOND, OKLA. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged $13.1 million in joint venture equity financing for a multifamily project in Edmond, located just north of Oklahoma City. Oaks at Covell will comprise 102 townhomes in two-, three- and four-bedroom floor plans that will be located along I-35. Justin Shuart and Travis Headapohl of IPA worked on behalf of ACRE Development Partners to arrange the financing with an undisclosed partner.
PORTLAND, TEXAS — Locally based brokerage firm Cravey Real Estate Services has negotiated the sale of Esplanade at Northshore, a 50,800-square-foot shopping center in Portland, located just outside of Corpus Christi. The two-building center was constructed on 7.7 acres in 2011, with the undisclosed buyer acquiring the 37,800-square-foot Building A and the 13,000-square-foot Building B in December 2023 and March 2024, respectively. Lynann Pinkham of Cravey Real Estate Services represented the seller in the transaction.
SAN ANTONIO — Architecture firm Perkins&Will has opened a new studio in San Antonio’s Pearl District. The space, the square footage of which was not disclosed, is situated within The Lab Building, which is located at 303 Pearl Parkway and was originally constructed in 2012. Christi Griggs of CBRE represented the undisclosed landlord in the lease negotiations. Jeff Miller of JLL represented Perkins&Will.
LOWELL, MASS. — MassHousing has provided $94 million in financing for Westminster Village Arms, a 432-unit affordable housing complex located north of Boston in Lowell. The property comprises 36 three-story buildings and a maintenance building that were constructed in 1970 and last renovated in 2012. Units come in studio, one-, two- and three-bedroom floor plans and are reserved for households earning 60 percent or less of the area median income. Amenities include a pool, basketball court, playground, business center, community room with a kitchen and onsite laundry facilities. The borrower, Related Affordable, will use the proceeds to retire existing debt, preserve the property’s affordability status and fund approximately $20 million in renovations.
PILESGROVE, N.J. — Missouri-based NorthPoint Development has broken ground on a 954,701-square-foot industrial project in the Southern New Jersey community of Pilesgrove. Designed by studioNorth Architecture and built by Peak Construction Corp., the project represents the fourth building in the Turnpike 1 Trade Center development. Building features will include a clear height of 40 feet, 96 docks, four drive-in doors, 2,000 square feet of office space and parking for 536 cars and 244 trailers. Completion is scheduled for the fourth quarter.
NEW YORK CITY — Marcus & Millichap has brokered the $12.6 million sale of four apartment buildings totaling 113 units in Harlem. The buildings house units in two-, three-, four- and five-bedroom floor plans and collectively include eight retail spaces. Seth Glasser, Michael Fusco and Benny Katz of Marcus & Millichap represented the seller and procured the buyer, both of which were private investors that requested anonymity, in the transaction.
NORWOOD, N.J. — Locally based brokerage firm Resource Realty has arranged a 52,108-square-foot, full-building industrial lease in the Northern New Jersey community of Norwood. Alfred Sanzari Enterprises owns the building at 10 Maple St., which was built in 1975, according to LoopNet Inc. Dan Whitehead of Resource Realty negotiated the deal on behalf of the tenant, footwear products manufacturer OrthoFeet Inc.