SAN ANTONIO — DiversyFund, a fintech and investment platform focused on multifamily assets, has completed the renovation of Mission Villas, a 174-unit multifamily property in San Antonio. According to Apartments.com, the complex was built in 1965 and offers studio and one-bedroom units, as well as amenities such as a pool, playground and outdoor grilling and dining areas. Renovations included upgrades to the kitchens and bathrooms of all units and improvements to building exteriors.
STAFFORD, TEXAS — Locally based brokerage firm Partners Real Estate has arranged the sale of a 40,000-square-foot medical office building located at 4915 S. Main St. in Stafford, a southwestern suburb of Houston. According to LoopNet Inc., the property was built on 3.4 acres in 1980. Chris Caudill and Devin Hawkins of Partners represented the seller in the transaction. John Baddour of High Street Net Lease Group represented the buyer.
PLANO, TEXAS — Horizon Oxygen & Medical Equipment has signed a 7,855-square-foot industrial lease in Plano. According to LoopNet Inc., the building at 600 Development Drive was built in 2001 and totals 23,334 square feet. Jared Laake of Bradford Commercial Real Estate Services represented the landlord, Dallas-based Kennington Commercial, in the lease negotiations. Schaefer Amos of Lee & Associates represented the tenant.
CHAPPAQUA, N.Y. — A partnership between two New Jersey-based firms, Atkins Cos. and Denholtz Properties, has acquired Medical Offices at Chappaqua Crossing, a 490,000-square-foot healthcare complex located about 30 miles north of Manhattan. The sales price was $40 million. Northwell Health’s Northern Westchester Hospital anchors the 59-acre facility, which is located within a larger mixed-use development. Jeffrey Dunne, David Gavin, Steve Bardsley and Travis Langer of CBRE represented the seller, a joint venture between Summit Development and Crestline Investors, in the transaction.
PITTSBURGH — Friedman Real Estate, a brokerage firm with five offices across the country, has negotiated the sale of a 150,000-square-foot retail property in Pittsburgh. The property, which is located within Washington Crown Center Mall and formerly housed a Macy’s department store, was fully occupied at the time of sale by M@C Discount, which specializes in reselling returned retail items. Steven Silverman of Friedman Real Estate represented the undisclosed buyer in the transaction. Additional terms of sale were not disclosed.
NASHUA, N.H. — The City of Nashua, located in southern New Hampshire, has opened a 53,340-square-foot performing arts center, art gallery and event center in its downtown area. Boston-based ICON Architecture designed the project, which involved the demolition of an existing building on the site and the maintenance of a second structure to house the new center. The four-story venue now features a 753-seat theater, a section of which has a retractable seating system that can create a general admissions or private banquet area, as well as a communal gallery and an outdoor terrace.
LONG BRANCH, N.J. — Locally based developer and general contractor Prime City has broken ground on SICA Lofts, a 31-unit multifamily project that will be located in the coastal New Jersey community of Long Branch. The site originally housed the home of the Lincoln Can Manufacturing Co. and later the Shore Institute of Contemporary Arts, from which the property derives its titular acronym. The project will feature one-bedroom units with an average size of 750 square feet and 2,500 square feet of ground-floor retail space. Manasquan Bank provided a $7.5 million, floating-rate construction loan for the project, which is scheduled for a third-quarter 2024 completion.
LAKE LUZERNE, N.Y. — Boutique brokerage firm Muroff Hospitality Group has arranged the sale of Hide-A-Way Waterfront Cottages, a 13-room property located in the upstate New York community of Lake Luzerne. The waterfront property sits on 3.8 acres and offers one- to three-bedroom cottages with full kitchens. Mitch Muroff of Muroff Hospitality Group represented the buyer and seller in the $1.8 million transaction.
KNIGHTDALE, N.C. — Beacon Partners has broken ground on Knightdale Gateway, a 511,000-square-foot industrial park about 15 miles east of Raleigh in Wake County. Slated for completion in the second quarter of 2024, the project will feature two Class A buildings with 36-foot clear heights. The assets will include a 221,363-square-foot building anchored by the new 195,056-square-foot headquarters facility for Kitchen Cabinet Distributors (KCD) and a 289,632-square-foot building with frontage along U.S. Highway 64. Al Williams and Michael Morgan of JLL represented KCD in the lease transaction, and Tim Robertson with Beacon Partners represented the landlord internally. Williams, along with JLL colleague Matt Winters, will handle the leasing assignment for the remaining space at Knightdale Gateway. The design-build team includes general contractor Choate Construction, Merriman Schmitt Architects and Advanced Civil Design. Fifth Third Bank is providing an undisclosed amount of construction financing to Beacon Partners for the project.
TAMPA, FLA. — Sansone Group, Mandich Group and BentallGreenOak have formed a joint venture to develop and operate a new 108,554-square-foot cold storage facility in Tampa’s Ybor City neighborhood. The rail-served facility will be situated less than three miles from Port Tampa and the CSX Intermodal Tampa Terminal, as well as 12 miles from Tampa International Airport. Tippmann Construction is the general contractor for the project, and locally based Stifel Bank provided an undisclosed amount of construction financing to the developers. Scott Delphey and Matthew Delphey of Food Properties Group, along with Lisa Ross and Trey Carswell of Cushman & Wakefield, will lease the facility on behalf of the ownership group.