CORAL GABLES, FLA. — Belmont Village Senior Living, in partnership with Baptist Health South Florida, has opened Belmont Village Senior Living Coral Gables, a 232-unit seniors housing community located at 4111 Salzedo St. in Coral Gables. Corwil Architects designed the South Florida property, which features independent living, assisted living and memory care residences across 10 stories. Amenities at the community, which also offers ground-floor retail space, include indoor and outdoor socialization spaces, a pool surrounded by a full-service bistro and bar, outdoor lounge with a dining area and barbecue kitchen, fitness room, outdoor movie lawn, putting green, screening room, dog park and a beauty salon. As part of the collaboration with Baptist Health South Florida, Belmont Village Coral Gables will offer direct access to Live Healthy by Baptist Health, with Baptist Health Primary Care onsite. Moss Construction was the general contractor for the project.
FAYETTEVILLE, GA. — Alpharetta, Ga.-based Parkland Communities has secured zoning approval from the City of Fayetteville’s Planning & Zoning Commission for the development of Morgan Park, a 124-unit build-to-rent townhome community to be located between East Laier and Booker avenues. Situated on 9.3 acres roughly 22 miles outside of Atlanta, Morgan Park will feature two- and three-bedroom townhomes ranging from 1,636 to 1,958 square feet. Each townhome will feature a one-car garage and covered outdoor living space. Amenities at the property will include a clubhouse, pool, cabana and dedicated mail kiosk. Monthly rental rates at the community will begin at $2,400. A construction timeline was not disclosed.
ROCKWALL, TEXAS — JLL has arranged an undisclosed amount of permanent financing for Rockwall Distribution Center, a 301,120-square-foot industrial facility located on the eastern outskirts of Dallas. Delivered in March, Rockwall Distribution Center features 32-foot clear heights, an ESFR sprinkler system, 68 dock-high loading doors, 62 trailer parking spots and 185-foot truck court depths. Aldon Cole, John Rose, Will Mogk and Brad Vansant of JLL arranged the financing through an undisclosed direct lender on behalf of the borrower, San Diego-based investment firm Westcore.
AUSTIN, TEXAS — Newmark has brokered the sale of South Congress Commons, a 68-unit apartment complex located just north of downtown Austin. Situated in the city’s South Congress area, the property features studio and one-bedroom units and amenities such as a dog park, courtyard, outdoor grilling and dining areas and onsite laundry facilities. Chase Easley of Newmark represented the seller, Firm Capital, in the transaction. Anthony Tarter, also with Newmark, arranged an undisclosed amount of acquisition financing on behalf of the buyer, an affiliate of locally based owner-operator Narrow Road Group.
FARMERS BRANCH, TEXAS — Fay Servicing Inc. has inked a 47,951-square-foot office lease in the northern Dallas metro of Farmers Branch. The provider of online financial management tools is taking space at Browning Place I, which was built in 1981 and totals 182,739 square feet, according to commercialcafé.com. Frank Puskarich and Louis Pascuzzi of Newmark represented the tenant in the lease negotiations. Duane Henley of Transwestern represented the landlord, an entity doing business as TCI Park West I Inc.
HOUSTON — Stephens Insurance has signed a 35,454-square-foot office lease renewal and expansion at Nine Greenway Plaza, a 31-story building located about five miles southwest of downtown Houston. Don King and Anya Marmuscak of JLL represented Stephens Insurance, which is taking an additional 9,000 square feet, in the lease negotiations. J.P. Hutcheson and Amanda Nebel represented the landlord, Parkway Properties, on an internal basis.
GRAPEVINE, TEXAS — Locally based brokerage firm STRIVE has negotiated the sale of a 4,797-square-foot QuikTrip gas station in Grapevine, located in the northern-central part of the metroplex. The property was built in 2010. Michael Crovetti and Adam Gottschalk of STRIVE represented the seller, a Kansas-based investor, in the transaction and procured the buyer, a Texas-based investor. Both parties requested anonymity.
POHATCONG, N.J. — Locally based developer Larken Associates has broken ground on Monte View at Pohatcong, a 120-unit multifamily project. The site is located near the Pennsylvania-New Jersey border near Easton. The garden-style property will consist of three multi-story buildings and one four-story building with a ground-floor clubhouse. Other amenities will include a pool, fitness center and a dog run. The first move-ins are scheduled to begin in fall 2024.
RADNOR, PA. — Locally based REIT Brandywine Realty Trust has sold a 17,884-square-foot shopping center in Radnor, a northwest suburb of Philadelphia, for $14.2 million. Built in 2014, the property was fully leased at the time of sale to tenants such as Estia, Pietro’s, Honeygrow and Buena Onda. Jim Galbally, Chris Munley, Colin Behr, James Graf and Patrick Higgins of JLL represented Brandywine in the transaction. The buyer was an undisclosed, New York-based private investor.
GARDNER, MASS. — JLL has brokered the $9.6 million sale-leaseback of a 113,000-square-foot industrial building in Gardner, located about 65 miles northwest of Boston. Built in 1959 and expanded in 2004, the building features six dock doors and a clear height of 30 feet. Lenny Pierce and David Coffman of JLL represented the tenant, food packaging company Garlock Flexibles, which will retain occupancy on a long-term basis, in the transaction. The buyer was Philadelphia-based Valley Forge Private Equity.