VISTA, CALIF. — Retail Insite has arranged the sale of a vacant retail building located at 940 S. Santa Fe Ave. in Vista, approximately 40 miles north of San Diego. Albertsons Inc. sold the asset to SK Vista LLC for $4.3 million. The buyer plans to open a specialty Indian grocery store at the 27,300-square-foot property, which was formerly a Vons supermarket. Mike Moser of Retail Insite represented the seller in the deal.
NEW YORK CITY — The Durst Organization has topped out 20 and 30 Halletts Point, a 647-unit multifamily project in the Astoria neighborhood of Queens. The complex consists of a 27-story building and a 32-story building that are part of the larger Halletts Point mixed-use development, which will eventually total more than 2,000 residential units. Residences will come in studio, one- and two-bedroom formats. Amenities will include a fitness center, rooftop terraces, resident lounges and a children’s play area, as well as ground-floor retail space and onsite parking. Urban Atelier Group is the general contractor for 20 and 30 Halletts Point, which are slated for 2025 deliveries.
SAN DIEGO — Marcus & Millichap Capital Corp. (MMCC) has arranged a $2.7 million refinancing for North of Market, a mixed-use retail and multifamily property in San Diego. Located at 701-721 8th Ave., the property comprises a restaurant, salon, clothing store and 10 apartments. Chad O’Connor of MMCC’s San Diego office secured the three-year, fixed-rate, interest-only loan for the undisclosed borrower.
RYE, N.Y. — The New York Blood Center will open a 187,000-square-foot office and life sciences facility in Rye, a northern suburb of New York City. The 14.8-acre site at 601 Midland Ave. formerly housed an office and data center facility for cosmetics giant Avon, that has now been vacant for about four years. The Westchester County Local Development Corp. has approved a $52 million, tax-exempt bond for the redevelopment, which will include new HVAC, electrical systems, windows and roofing. The façade and landscaping will also be upgraded, and new clinical and research laboratories will be added. The $108 million project is estimated to take 12 to 18 months to complete.
DENVILLE, N.J. — JLL has secured joint venture equity for a 119,250-square-foot industrial project that will be located in the Northern New Jersey community of Denville. The site at 12-18 Vanderhoof Ave. spans 19 acres, and the facility will offer a clear height of 36 feet, 18 loading bays, one drive-in door and parking for 52 cars and 13 trailers. Marc Duval, Jason Lundy, Jordan Avanzato, Nicholas Stefans and Jose Cruz of JLL worked on behalf of the sponsor, Cervenka Development Partners, to arrange the equity partnership with global investment manager Monocle Group.
OVERLAND PARK, KAN. — Whole Foods Market is scheduled to open a new 45,791-square-foot store in Overland Park on Wednesday, Nov. 15. The new store at 11900 Metcalf Ave. serves as the relocation of the existing Overland Park store at 6621 W. 119th St. that opened in 2007. The new location is about 10,000 square feet larger and features an upgraded coffee bar along with increased seating capacity. The new store’s product assortment features more than 750 local items from the greater Kansas area. On opening day, customers can enjoy live music, local samples and complimentary coffee.
SCHAUMBURG, ILL. — Lee & Associates has brokered the sale of a 106,380-square-foot office building in the Chicago suburb of Schaumburg for $3.5 million. The five-story property is located at 930 National Parkway adjacent to Woodfield Mall. The building was originally constructed in 1989 for Cellular One and later occupied by Cingular and AT&T. Tony Russo and Ryan Freed of Lee & Associates represented the seller, Somoha LLC. The buyer, National India Hub Foundation, is a national Indian-American organization focused on local community outreach and volunteering. The buyer plans to convert the property into a multipurpose community center. Plans call for a charity clinic, conference rooms, indoor sports center, auditorium, donation center and event space.
MOUNT PROSPECT, ILL. — Principle Construction is underway on a 100,000-square-foot speculative warehouse in the Chicago suburb of Mount Prospect. Stotan Industrial is the developer. The project at 350 N. Wolf Road will feature a clear height of 32 feet, two drive-in doors, 96 parking spaces, 28 trailer spaces and 12 docks. Principle demolished a former Comcast office building on the site that had sat vacant for some time. Completion of the new warehouse is slated for the end of November. Harris Architects is the project architect.
CARTERET, N.J. — Greystone has provided a $21.6 million Fannie Mae loan for the refinancing of Roosevelt Village Apartments, a 101-unit affordable housing complex in the Central New Jersey community of Carteret. Built in 1969, the complex consists of 10 buildings on a 5.2-acre site that house one-, two- and three-bedroom units. Specific income restrictions were not disclosed. The nonrecourse, fixed-rate loan was structured with a 10-year term, 35-year amortization schedule and seven years of interest-only payments. Ryan Harkins of Greystone originated the financing on behalf of the borrower, Tryko Partners.
ROCKFORD, ILL. — Krusinski Construction Co. has begun an interior renovation project for a 6,400-square-foot Comcast office in Rockford. After a partial demolition, the renovated space will feature multiple offices, meeting rooms, open office areas with workstations, a server room, break room, wellness room, restrooms, an interior vestibule and new doors. Completion is slated for January.
