HOUSTON — Law firm Royston, Rayzor, Vickery & Williams has signed an 11,611-square-foot office lease at 1415 Louisiana St. in downtown Houston. The building rises 43 stories, spans 520,000 square feet and houses an 8,000-square-foot fitness center and multiple onsite food-and-beverage options. Griff Bandy and John Zivley of Partners Real Estate represented the tenant in the lease negotiations. Connor Saxe of Cushman & Wakefield represented the landlord, Wedge Commercial Properties.
LELAND, N.C. — Cushman & Wakefield has arranged $62 million in construction financing for The Village at Compass Pointe, a 268-unit multifamily development coming to a 25-acre site in Leland, about 10 miles west of Wilmington, N.C. The property will feature 140 single-family rental townhomes and 128 traditional apartments in two four-story, elevator-serviced buildings. Gideon Gil, Zachary Kraft, Sebastian Sanchez and Dale Braverman of Cushman & Wakefield originated the loan through Dwight Mortgage Trust on behalf of the borrowers, SR Real Estate Partners and Circle Squared Alternative Investments. Upon completion, Village at Compass Pointe will feature two clubhouses, cabana pools and pickleball courts. The first units are expected to be delivered in January 2025.
NEW YORK CITY — JLL has arranged a $233 million construction loan for the ground-up development of a 569-unit multifamily project in Brooklyn. The site is located at 54 Crown St. in the borough’s Crown Heights neighborhood. Christopher Peck, Geoff Goldstein, Nicco Lupo and Rob Hinckley of JLL arranged the floating-rate loan through Goldman Sachs Asset Management. According to Crain’s New York Business, the borrower was San Francisco-based Carmel Partners. Information on floor plans, amenities and a construction timeline was not disclosed.
MORRIS TOWNSHIP, N.J. — A partnership between two New Jersey-based developers, Accurate and DeVimy Equities, has completed Morris Marketplace, a retail redevelopment project in Northern New Jersey. The project brings 140,000 square feet of shopping, dining and entertainment space to the former corporate campus of Palmolive-Colgate in Morris Township. Morris Marketplace also features pocket parks, splash pads, public seating areas and al fresco dining spaces. Approximately 30 tenants have committed to the project, with more than half now open and operating.
Atlantic Capital Partners Brokers $17.5M Sale of Kroger-Anchored Shopping Center in Cumming, Georgia
CUMMING, GA. — Atlantic Capital Partners has brokered the $17.5 million sale of Sharon Greens, a Kroger-anchored shopping center located in Cumming, a northern suburb of Atlanta. Justin Smith, Fred Victor, Chris Peterson, Sam Koonce and Danielle Donovan of Atlantic Capital Partners represented the institutional seller and secured the buyer, a joint venture between ShopOne Centers REIT Inc., Pantheon and an unnamed global institutional investment firm. Built in 2001, Sharon Greens spans 98,301 square feet and was 98 percent leased at the time of sale to 21 tenants, including Kroger, Chase Bank and Heartland Dental. The property is located at the intersection of Sharon Road and Peachtree Parkway.
PHILADELPHIA — Locally based investment firm Alliance HP has sold The Philadelphia Infill Industrial Portfolio, a collection of three industrial properties totaling 122,373 square feet in Philadelphia. The sales price was $24.7 million. The portfolio was fully leased at the time of sale and features clear heights between 17 and 22 feet, 14 loading doors, five drive-in doors and 163 parking spaces. The buildings are all located within a 2.5-mile radius of Philadelphia International Airport. John Plower, Ryan Cottone, Larry Maister and Kyle Lockard of JLL represented Alliance HP in the transaction. The buyer was not disclosed.
DORAL, FLA. — Pennsylvania-based Seagis Property Group is nearing completion of a 118,000-square-foot warehouse project near the cargo entrance of Miami International Airport. The speculative facility, which is estimated as being 75 percent complete, is located at 8315 N.W. 27th St. in Doral. Situated within Transal Park, the rear-load warehouse will feature 32-foot clear heights, 32 dock doors and 110 automobile parking spaces. Sebastian Juncadella and Jose Juncadella of Fairchild Partners are marketing the project for lease on behalf of Seagis, which expects to deliver the property by the end of the year.
EXETER, N.H. — JLL has negotiated the sale of a two-building, 82,000-square-foot medical office complex in Exeter, located just north of the Massachusetts-New Hampshire border. Access Sports Medicine, Seacoast Pathology and Exeter Hospital anchor the complex at 1 Hampton Road, which was 92 percent leased at the time of sale. Brannan Knott, Mindy Berman, Anthony Sardo and Landon Weaver of JLL represented the seller, a joint venture between Sendero Capital and Angelo Gordon, in the transaction. The buyer and sales price were not disclosed.
CHATHAM, N.J. — New Jersey-based developer Walters has broken ground on Cornerstone at Chatham, a 63-unit affordable housing complex in Northern New Jersey. The 3.2-acre site formerly housed a restaurant that is now defunct. Units will come in one-, two- and three-bedroom formats and range in size from 807 to 1,343 square feet. Residences will be reserved for renters earning 60 percent or less of the area median income. Amenities will include a fitness center, community room and outdoor grilling and dining stations. Walters is developing the project in partnership with Chatham Township. Completion is slated for late 2024.
AVE MARIA, FLA. — Barron Collier Cos. has broken ground on a new 21,000-square-foot retail strip center in Ave Maria, a master-planned community in Southwest Florida. Located at the corner of Ave Maria Boulevard and Anthem Parkway, the property will house NCH Immediate Care Center, Ace Hardware, Dunkin’, Ledo Pizza and Cold Stone Creamery. Barron Colliers plans to open the retail center in summer 2024. According to the Naples, Fla.-based developer, about 430 homes have been sold in the Ave Maria community so far this year.