CHESTERTON, IND. — Marcus & Millichap has arranged the $1.8 million sale of a 3,412-square-foot retail center in Chesterton, a city in Northwest Indiana. Jimmy John’s and Little Caesars anchor the property. Mitchell Kiven and Nicholas Kanich of Marcus & Millichap represented the Indiana-based seller, which was the original developer of the property. The asset sold to an Iowa-based buyer completing a 1031 exchange.
DALLAS — Creative marketing agency Lerma has signed a 27,959-square-foot office lease expansion at The Luminary in Dallas. The tenant is doubling its space with an additional floor at the 169,000-square-foot building, which is located in the West End area. Dan Harris and Nate Hruby of Stream Realty Partners represented Lerma in the lease negotiations. Harwood International recently purchased the building, which offers a rooftop terrace, bike racks and daily food service.
SAN ANTONIO — Austin-based investment firm Door Capital Partners has acquired The Shops at The Rim, a 7,090-square-foot retail strip center in San Antonio. The center was built in 2012 within The Rim, a 1.8 million-square-foot mixed-use development on the city’s northwest side. At the time of sale, the property was fully leased to The Rim Dental Care, Starbucks Coffee, Pigtails & Crewcuts and GNC. C.W. Sheehan, Kaitlin Kane and Hunt Wood of JLL arranged acquisition financing on behalf of Door Capital Partners. Chris Gerard and Jack Copher, also with JLL, represented the undisclosed seller in the disposition.
CHELSEA, MASS. — A partnership between developers John M. Corcoran & Co. and Joseph J. Corcoran Co. and private equity firm Marcus Partners has received $93 million in construction financing for the redevelopment of the Innes Apartments in Chelsea, a northeastern suburb of Boston. The project will convert an eight-building complex that was originally constructed in the 1950s into a mixed-income community with street-level retail space. A syndicate of lenders led by Cambridge Savings Bank provided the debt. A timeline for completion was not disclosed.
ASHBURN, VA. — Berkadia Commercial Mortgage LLC has arranged a $77.5 million loan for the refinancing of the second phase of Loudoun Station, a 1 million-square-foot mixed-use development in Ashburn. Patrick McGlohn, Miles Drinkwalter and Joyce Connolly of Berkadia arranged the 10-year, fixed-rate loan on behalf of the borrower, an affiliate of Comstock Holding Cos. Inc. Phase II of Loudoun Station comprises the BLVD Gramercy East and BLVD Flats apartment buildings, as well as ground-floor retail space and structured parking. Comstock is planning another 1.5 million square feet of real estate at Loudoun Station in future phases.
ATLANTA — FanDuel, a sports-tech entertainment firm known for its fantasy sports leagues, has opened its new offices at Ponce City Market, a mixed-use development in Atlanta’s Old Fourth Ward district. The company’s 68,000-square-foot space occupies the third floor and houses its software engineering, product development, user experience and user interface teams. The new office space features a mock sportsbook that tests FanDuel’s latest retail products; desk pods that support focused sprints and quick collaborations; and virtual scrum areas that allow digital whiteboarding concurrently across office locations. The heart of the office, the café and gaming zone, features a 12-foot video wall and a rotating selection of beer taps with beers made in Georgia that are selected by employees. FanDuel plans to grow its Atlanta-based workforce to approximately 900 colleagues over the next five years across 22 types of work settings. The company signed the lease last summer with Jamestown, the Atlanta-based owner of Ponce City Market.
DURHAM, N.C. — Northmarq has secured the sale of Trinity Commons at Erwin, a 342-unit apartment community located at 2530 Erwin Road in Durham. Jeff Glenn, Allan Lynch, Andrea Howard, Caylor Mark, John Currin and Ryan Bergin of Northmarq’s Carolinas investment sales team represented the seller, Northwestern Mutual Real Estate, in the transaction. The buyer and sales price were not disclosed. Amenities at Trinity Commons include a fitness center with yoga studio, resistance pool, hot and cold tubs, dry sauna, saltwater pool with a sundeck, three private courtyards with fountains, outdoor kitchen and bar with a pizza oven and secured parking garage.
POOLER, GA. — Marcus & Millichap has negotiated the $32 million sale of Pooler Pointe, a 160,683-square-foot shopping center located in Pooler. The property is located near Tanger Outlets Savannah, the Port of Savannah and Savannah/Hilton Head International Airport. Pooler Pointe’s tenant roster includes Hobby Lobby, HomeGoods and Dick’s Sporting Goods. Tim Giambrone of Marcus & Millichap’s Atlanta office represented the buyer, a private investment firm, in the transaction. The seller was also not disclosed.
NEW WINDSOR, N.Y. — New Jersey-based developer Diversified Properties has broken ground on Stonegate at New Windsor, an 81-unit multifamily project in New Windsor, about 70 miles north of New York City. The site at 435 Little Britain Road is directly across from Lake Washington. Designed by Thomas Brennan Architects, the property will feature a mix of studio, one-, two- and three-bedroom units, as well as a lounge and a fitness center. Completion is scheduled for July 2023.
MOBILE, ALA. — Legacy Realty Group Advisors has brokered the $7.4 million sale of Hillcrest Marketplace, a 76,000-square-foot shopping center located at 6300 Grelot Road in Mobile. The property was 95 percent leased at the time of sale to tenants including anchor Winn-Dixie. Jacob Baruch and Max Yardeni of Legacy Realty represented both the buyer and seller in the transaction. Both parties requested anonymity.