PHILADELPHIA — California-based SecureSpace Self Storage has opened a 120,260-square-foot facility at 2501 N. 15th St. in the Glenwood area of Philadelphia. The number of units was not disclosed. The facility will feature entirely climate-controlled space across multiple unit sizes and will add to SecureSpace’s two additional nearby developments and three operating stores in the greater Philadelphia area.
HENDERSON, NEV. — Avison Young has arranged the sale of Madison at Green Valley, an apartment community in the Las Vegas suburb of Henderson. Brisas GD LLC acquired the asset from Pacifica Henderson LLC for $15.4 million, or $175,000 per unit. Constructed in 1992 on four acres, Madison at Green Valley features 88 one- and two-bedroom apartments, with an average unit size of 942 square feet. The community is located near the Sunset Station Hotel and Casino and Galleria at Sunset. Patrick Sauter, Art Carll-Tangora and Steve Nosrat of Avison Young’s Sauter Multifamily Group facilitated the transaction for both the buyer and seller.
FEDERAL WAY, WASH. — MCA Realty has completed the sale of Spectrum Business Park, a six-building industrial campus in Federal Way, just northeast of Tacoma. A private investor purchased the asset for $13.7 million. Andy Miller and Matt McLennan of Kidder Mathews and Kyle Schipper of NAI Puget Sound Properties represented the seller, while Earney Velton of JSH Properties represented the buyer in the transaction. Built in 1978, Spectrum Business Park features 68,911 square feet of industrial space that was 100 percent leased at the time of sale. The park is located at 1620-1720 S. 341st Place. MCA Realty originally acquired the business park in September 2021 and spend $500,000 in capital improvements that included new paint, parking lot improvements, roof/gutter upgrades, interior improvements, electrical upgrades, landscaping and a new signage program. Spectrum Business Park is the fifth property sold within the MCA Realty Industrial Growth Fund.
FRAMINGHAM, MASS. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $5 million Freddie Mac acquisition loan for a 26-unit apartment building in Framingham, a western suburb of Boston. The property is known as The Grant Street Complex and houses a mix of one-, two- and three-bedroom units. Robert Bhat of MMCC originated the financing. The borrower and direct lender were not disclosed.
UPLAND, CALIF. — Harbor Associates has completed the disposition of 400 Mountain Avenue, a medical office property in the Inland Empire city of Upland. A local medical user bought the asset for $8.8 million. The three-story building features 47,850 square feet of medical office space with highway access to Los Angeles and Orange County. Sammy Cemo, Anthony DeLorenzo, Austin Reuland, Bryan Johnson and Nick Williams of CBRE Investment Properties represented the seller in the deal.
THE WOODLANDS, TEXAS — Howard Hughes Holdings Inc. (NYSE: HHH) has partnered with The Ritz-Carlton Hotel Co. LLC to develop The Ritz-Carlton Residences, The Woodlands, a high-rise condominium building on Lake Woodlands, 27 miles north of downtown Houston. The project will include a collection of residences for sale, as well as an onsite restaurant and amenities. The Ritz-Carlton Residences will be located within The Woodlands, a master-planned community. Howard Hughes developed the community through its HHCares program, which supports philanthropic efforts within the company’s Texas properties. The Woodlands was built in 1974, according to the property website. The community comprises 28,500 acres, including nine residential villages, 151 parks, 220 miles of hiking and bike trails, 2,460 businesses and nearly 8,000 acres of green space. The Woodlands is currently home to 120,000 people, and nearly 67,000 people work in the community. The Ritz-Carlton Residences, The Woodlands will be the first Ritz-Carlton standalone residences in Texas. The Woodlands Land Development Co., a subsidiary of Howard Hughes, will develop the project. Robert A.M. Stern Architects will handle design. According to Howard Hughes, The Ritz-Carlton Residences brand was chosen for its loyal following in the worlds of hospitality and branded private residences. — Channing …
DALLAS — A joint venture between Conor Commercial Real Estate, Globe Corp. and Origin Investments will develop The Flynn at Live Oak, a 327-unit multifamily project in Dallas. The five-story building will feature studio, one- and two-bedroom floor plans and amenities such as a pool, coworking spaces, a mini-mart, two courtyards and a dog park. The first apartments are slated for a spring 2025 delivery. JLL arranged construction financing for the project through Wintrust Bank. Merriman Anderson Architects designed the project, and Cadence McShane Construction is serving as the general contractor. Greystar will manage the property.
SAN ANTONIO — A joint venture between Virginia-based Capital Square and Japanese investment firm ITOCHU Corp. has purchased Creekside Terrace, a 100-unit build-to-rent project that is under construction in San Antonio. National homebuilder Pulte Homes is developing the project, which will offer three- and four-bedroom homes and amenities such as a pool, pavilion and park that connects to nearby shopping and dining outlets. The first units are expected to be available for occupancy in November, and full completion of the property is slated for next fall.
CALABASAS, CALIF. — Newmark has negotiated the sale of Calabasas Courtyard, a three-building office campus in Calabasas, approximately 30 miles west of Los Angeles. AEW Capital Management sold the asset to Calabasas Courtyard LLC, a partnership between Brian Forster of Pacific Partners Commercial, Tony Principe of Westcord Commercial and private investor John Cataldo. The price was not disclosed. Located at 5000 Parkway Calabasas, the 129,789-square-foot campus was 68 percent leased at the time of sale. The buyer plans to upgrade and modernize the commons areas of the three buildings, as well as the individual suites. Kevin Shannon, Rob Hannan, Ken White, Laura Stumm, Michael Moll and Alex Beaton of Newmark represented the seller in the transaction.
SANTA MONICA, CALIF. — CIM Group has opened The Wilson, a multifamily property located at 2903 Lincoln Blvd. in Santa Monica’s Sunset Park neighborhood. The newly developed community features 47 studio, one-, two- and three-bedroom apartments with hardwood-style flooring, in-unit washers/dryers and private balconies. Community amenities include a courtyard with lounge and dining seating, and a rooftop deck with outdoor fire pits and barbecues. The Wilson also features 15,000 square feet of ground-floor retail space.