ATLANTA — Balfour Beatty has completed construction of 560 Edgewood, the adaptive reuse of a historic Coca-Cola bottling plant in Atlanta. Charlotte-based Asana Partners is the owner of the 60,000-square-foot building, which is situated along the Atlanta BeltLine’s Eastside Trail and adjacent to Krog Street Market, a popular food hall also owned by Asana Partners. Balfour Beatty was the construction manager of the redevelopment, which converted the 1915-built factory into a mixed-use project with a new rooftop amenity, 104-space parking deck, restored windows and a revamped brick façade. Locally based ASD|SKY was the architect for the redevelopment. Asana Partners has tapped Molly Morgan and Allie Spangler of JLL to handle retail leasing at 560 Edgewood. Bennett Gottlieb with Capital Real Estate Group is handling service and office space leasing.
Property Type
IRVING, TEXAS — Colliers Mortgage has provided a Fannie Mae acquisition loan of an undisclosed amount for Landen Apartment Homes, a 134-unit multifamily property in Irving. The garden-style property consists of four two-story buildings that house studio, one-, two- and three-bedroom units. Amenities include a pool, playground and outdoor kitchen and grilling stations. Fritz Waldvogel of Colliers Mortgage originated the loan, which carries a five-year term, through a partnership with Old Capital Lending. The borrower was an entity doing business as NH Investments LAH LLC.
AUSTIN, TEXAS — Tokyo Electron has signed a 98,761-square-foot office lease at RiverSouth, a 15-story, 372,000-square-foot office building in downtown Austin. The provider of semiconductors and display production equipment is relocating and will join existing tenants such as Baker Botts, Alert Media and Under Armour. Brad Philp and Conor Greissing of Stream Realty Partners represented the landlord in the lease negotiations on an internal basis. Kendall King and Stan Erwin of HPI Real Estate Services & Investments represented Tokyo Electron.
HOUSTON — Marcus & Millichap has brokered the sale of Rosslyn Heights Apartments, a 60-unit multifamily complex in northwest Houston. According to Apartments.com, the property was built in 1985 and offers two-bedroom units and a playground. Kyle Devillier, Gregory Austin, Travis Austin and Jackson Hart of Marcus & Millichap represented the seller and procured the buyer in the transaction. Both parties were limited liability companies that requested anonymity.
NEW YORK CITY — Cushman & Wakefield has arranged a $135 million construction loan for a 328-unit multifamily project that will be located at 975 Nostrand Ave. in Brooklyn. The site is at the intersection of the Crown Heights and Prospect Leffert Gardens neighborhoods. About 30 percent (99 units) of the nine-story building’s residences will be reserved as affordable housing, and the amenity package will feature a rooftop terrace, landscaped courtyard, fitness center, karaoke room and a pet spa. A 21,000-square-foot FRESH supermarket will anchor the project’s retail component, which will include an additional 4,200 square feet of small-shop space. Construction is slated for a fourth-quarter 2025 completion. Gideon Gil, Zachary Kraft and Sebastian Sanchez of Cushman & Wakefield arranged the loan through Santander Bank and Related Cos. on behalf of the borrower, Hudson Cos.
ORLEANS, MASS. — MassHousing has provided $19.2 million in financing for an affordable housing redevelopment project in the Cape Cod community of Orleans. The financing consists of $15.4 million in tax credit equity bridge financing, $2.8 million in permanent financing and $1 million from the agency’s workforce housing initiative. The project will convert the former site of a Cape Cod Five Bank operations center that originally opened in 1977 into a 62-unit complex that will serve renters with a range of income restrictions. The borrower, Pennrose, will adaptively reuse part of the existing structure and also construct new units from the ground up. Amenities will include a fitness room, community room, resident services office and a package room.
TROY, N.Y. — Marcus & Millichap has brokered the $18 million sale of Hudson River Commons, a 129,059-square-foot shopping center in Troy, located just north of Albany. Big Lots anchors the center, which sits on a 12.2-acre site and was 97 percent leased at the time of sale. Other tenants include Friendly’s, Sonic, Subway, Starbucks, Family Dollar and Saratoga National Bank. Joseph French and Kodi Traver represented the seller and procured the buyer in the transaction. Both parties were private investors that requested anonymity.
YARDLEY, PA. — Regional grocer Wegmans has opened an 88,000-square-foot store in Yardley, about 30 miles northeast of Philadelphia. The site is located within the Prickett Preserve mixed-use development, and the store offers a selection of approximately 1,200 wines and 500 beers and ciders. The store, which will employ about 400 people on full- and part-time bases, is Wegmans’ second in Bucks County.
EAST SETAUKET, N.Y. — Stony Brook University Hospital has signed a 16,000-square-foot lease on Long Island. The regional provider now occupies an entire 25,000-square-foot building within the 103-acre Stony Brook Technology Center campus in East Setauket. David Leviton from JLL represented the tenant in the lease negotiations. Maria Valanzano and Steven D’Orazio of Colliers represented the landlord, TRITEC Real Estate Co.
GOSHEN, IND. — Evergreen Real Estate Group has completed Green Oaks of Goshen, a 120-unit assisted living community for low-income seniors in Goshen, a city in northern Indiana. Evergreen Construction Co., a division of Evergreen Real Estate Group, served as general contractor on the project, which recently welcomed its first residents and is currently 50 percent leased. Located at 282 Johnson St., the $30 million project replaces a vacant three-acre lot on the city’s north side near an existing Salvation Army building. Bourbonnais, Ill.-based Gardant Management Solutions operates the four-story community. Green Oaks of Goshen offers 49 studio and 71 one-bedroom units, all of which are reserved for seniors age 62 or older with incomes at or below 80 percent of the area median income. Amenities include a community room with kitchen, private dining room, media and theater room, computer room, fitness center, salon, library, community garden and outdoor area. The Indiana Housing and Community Development Authority authorized 4 percent Low-Income Housing Tax Credits (LIHTC) for the project. In addition, the City of Goshen issued tax-exempt bonds that were sold by Piper Sandler, providing debt financing. Affordable Housing Partners also invested in the project, providing LIHTC equity.