BOCA RATON, FLA. — Cushman & Wakefield has arranged the sale of Shadowwood Square, a 237,498-square-foot shopping center located in Boca Raton. Constructed in 1982, the property is anchored by Sprouts Farmers Market, Walgreens and Old Navy. Mark Gilbert, Adam Feinstein and Mitchell Halpern of Cushman & Wakefield represented the seller, an entity controlled by Evelyn Langlieb Greer doing business as Shadowwood Square Ltd. An affiliate of Edens acquired the property for an undisclosed price.
ATLANTA — Atlanta BeltLine Inc. has purchased 13.7 acres along the BeltLine’s Southside Trail in southwest Atlanta for $13.3 million. Situated at 356 University Ave., the property is situated adjacent to the Pittsburgh Yards adaptive reuse development. This acquisition marks the continuation of the BeltLIne’s mission to procure land along the trail loop. AECF Atlanta Realty, a subsidiary of the Annie E. Casey Foundation, manages Pittsburgh Yards and was the seller. SouthState Bank provided acquisition financing for the transaction. The BeltLine will conduct a community engagement process to determine best uses for the site. After incorporating the vision of adjacent residents and local businesses into the plans, the organization will issue a Request for Proposals (RFPs) to invite developers to submit proposals to redevelop the site.
NASHVILLE, TENN. — Oman-Gibson Associates (OGA) has broken ground on a 6,000-square-foot medical imaging facility in Nashville. The clinic, which is being constructed at 8124 Sawyer Brown Road on behalf of Vanderbilt Imaging Services, will provide specialty imaging including MRI, CT, ultrasound, fluoroscopy, digital X-ray and mammography services. Vanderbilt plans to relocate its Belle Meade Imaging practice to the new facility, with completion expected in late 2024 or early 2025. Thomas Constructors is the general contractor on the project, HMK Architects is the architect and Fulmer Lucas Engineering is serving as the civil engineer.
HOUSTON — Arizona-based lender Arriba Capital has provided a $52.5 million construction loan for a dual-branded hotel project that will be located at 1319 Texas Ave. in downtown Houston. The property will feature a total of 275 guestrooms with traditional and extended-stay options under the Holiday Inn Express and Staybridge Suites brands. Shared amenities will include an outdoor pool, meeting and event space, a full-service bar, fitness center, business center and a dining area for complimentary breakfast. Completion is slated for late 2025. The borrower and developer is Houston-based Neway Hospitality.
GEORGETOWN, TEXAS — Houston-based owner-operator CityStreet Residential Partners has purchased Stone Oak Ranch RV Resort, a 224-site property located north of Austin in Georgetown. The Boterra Group originally constructed the park in October 2020. Amenities include a pool, fitness center, dog park, playground, pickleball courts and onsite laundry facilities. CityStreet plans to rebrand the property under its Jetstream umbrella and develop an additional 200 sites.
MIDLAND AND ODESSA, TEXAS — Matthews Real Estate Investment Services has brokered the sale of a portfolio of seven industrial buildings totaling 93,000 square feet in the West Texas cities of Midland and Odessa. The portfolio was fully leased to seven tenants, including Rexel, Interstate Batteries and North Basin Coating, at the time of sale. Michael Kelleher and Jeff Miller of Matthews brokered the deal. The buyer and seller were not disclosed.
FORT STOCKTON, TEXAS — Partners Real Estate has negotiated the sale of an 8,000-square-foot retail property that is leased to Dollar General in the West Texas city of Fort Stockton. According to LoopNet Inc., the freestanding, single-tenant building at 1001 W. Dickinson Blvd. was originally constructed in 1994. The buyer and seller were both Houston-based investment firms that requested anonymity. Evan Altemus of Partners brokered the deal.
SPRING, TEXAS — Dallas-based investment sales brokerage firm STRIVE has arranged the sale of Gosling Green, a 7,391-square-foot retail strip center in Spring, a northern suburb of Houston. The property was fully leased at the time of sale. Jake Dutson of STRIVE represented the seller in the transaction and Hudson Lambert, also with STRIVE, represented the buyer. Both parties were private investors that requested anonymity.
LOS ANGELES — Unibail-Rodamco-Westfield (URW) has received $925 million in new financing for Westfield Century City, a 1.4 million-square-foot mall in Los Angeles. URW fully owns the mall, which was 95 percent occupied at the time of financing. The financing is in the form of a two-year, floating-rate commercial mortgage-backed security (CMBS).
SANTA FE SPRINGS AND BREA, CALIF. — Staley Point Capital and Bain Capital Real Estate have completed the sale of two industrial properties in Southern California for $54 million, or $339 per square foot. The properties are a 58,000-square-foot industrial facility at 10907 Painter Ave. in Santa Fe Springs and a 100,000-square-foot building with 22-foot clear heights and four dock-high positions at 331 Cliffwood in Brea. Both are in suburbs to the southeast of Los Angeles. The joint venture originally acquired the assets in separate transactions in 2021. Latham & Watkins LLP served as legal counsel to Staley Point Capital for the transaction. Eastdil Secured served as the financial advisor, and The Klabin Co. provided local market advisory services.
