STONECREST, GA. — Stonecrest Resorts has completed the second phase of redevelopment at Priví, a 143,000-square-foot adaptive reuse of the former Sears department store at The Mall at Stonecrest, which is located roughly 15 miles east of Atlanta. Phase II comprised $4.2 million of renovations and the addition of tenants including Baldwin’s Literary Social Bookstore, Priví Art Gallery, The Exposure Hub, 101 TKO Radio, Priví Event Center, 3 Degrees Infrared Sauna Studio, Picasso’s Splat Room, The Lion’s Cage MMA & Fitness Gym and Garden Life Juice Bar. Stonecrest SeaQuest, an interactive aquarium destination, anchors Phase I of the development. Bay Mountain Capital has provided $8.3 million in financing for the next phase: the addition of a 40,000-square-foot food hall on the property’s second level. Concepts will include Atlanta Breakfast Club, The Original Hot Dog Factory, Dope Coffee, a craft bar, golf simulator suites, a daiquiri bar and a fine-dining restaurant. Construction is scheduled to begin this quarter, with openings beginning in spring of next year. Plans for the site also include a 10,000-square-foot history and cultural center.
ELKTON, MD. — Electric bikes manufacturer and distributor Metalrays LLC has signed a 109,192-square-foot lease in Elkton. The space is located within 1003 Konica Drive, a single-story warehouse/industrial and office building spanning 263,000 square feet. Metalrays’ tenancy brings the building, which features 36-foot ceiling heights, 27 loading docks and two drive-in docks and 150 parking spaces, to roughly 40 percent occupancy. Ned Brady and Eric Skogmo of Lee & Associates|Maryland represented Metalrays in the lease negotiations, and Michael McConnell represented the landlord, McConnell Development, on an internal basis.
WASHINGTON, D.C. — Urban Atlantic, Triden Development Group, Hines and joint venture partner Bridge Investment Group have opened Common Clover, a fully furnished, 248-room co-living building in Washington, D.C. Situated within The Parks at Walter Reed, a 66-acre mixed-use redevelopment, the property features suites with two to five private bedrooms, fully stocked kitchens, multiple bathrooms and in-unit laundry. Amenities include coworking space, a library, rooftop deck, courtyard with grilling stations, fitness center, game room and club lounge with a bar. The building also includes 21,000 square feet of ground-floor retail space. Rental rates start at $1,207 for a 116-square-foot studio, according to Apartments.com.
LAWRENCEVILLE, GA. — Anchor Health Properties has acquired a 40,000-square-foot medical office building in Lawrenceville, roughly 30 miles outside Atlanta. Located at 595 Hurricane Shoals Road N.W. in Gwinnett County, the property was fully leased at the time of sale to tenants including anchor Northside Health, Fresenius Medical Care, Georgia Nephrology, Palmetto Infusion, Amedisys Home Health and Gwinnett Pediatrics. Anchor’s acquisition also included an adjacent outparcel, and the company has announced plans to develop a three-story, 40,000-square-foot medical office building at the site. Construction is scheduled to begin in the fourth quarter of this year, and Women’s Group of Gwinnett has committed to occupy 16,000 square feet upon completion. Michael Lipton and Josh Gregory of Colliers’ Atlanta office represented Anchor in the transaction. The team also represented Women’s Group Georgia in leasing negotiations. Brandon Wallace of Meadows & Ohly represented the undisclosed seller, and Wintrust Bank provided debt financing services. The sales price and loan amount were not disclosed.
HUMBLE, TEXAS — Greystone has provided a $32.2 million Fannie Mae loan for the refinancing of The Villas at Foxbrick, a 412-unit apartment community located in the northern Houston suburb of Humble. Built in 2004, the property offers one- and two-bedroom units. According to Apartments.com, amenities include a pool, fitness center, courtyard and package locker service. Anthony Cristi of Greystone originated the financing. Gregory Vassilakos of Cosmos Capital Group served as the loan arranger and correspondent. The borrower was not disclosed.
HOUSTON — Lee & Associates has negotiated a 75,000-square-foot office lease at Republic Square, a 35-acre, newly renovated campus located along the Katy Freeway in West Houston. According to LoopNet Inc., Republic Square was built in 1980, renovated in 2020 and totals 324,546 square feet. Bill Insull and Blake Virgilio of Lee & Associates, along with internal agent Jon Herbster, represented the landlord, Houston EC Development LLC, in the lease negotiations. Bob Cromwell and Bob Gulley of Moody Rambin, in conjunction with Zack Taylor of Colliers, represented the tenant, Fugro, which provides geotechnical surveying services.
TOMBALL, TEXAS — Partners Real Estate has brokered the sale of a 25,000-square-foot industrial building located in the northern Houston suburb of Tomball. The building, which sits on 6.7 acres at 1302 S. Cherry St., was built in 1980 and features 30-foot clear heights, according to LoopNet Inc. Wyatt Huff and Cary Latham of Partners represented the seller, an entity doing business as Timber Trails Business Park LLC, in the lease negotiations. The duo also procured the buyer, Harbor Hill Holdings.
FORT WORTH, TEXAS — Locally based brokerage firm LanCarte Commercial has arranged four retail leases totaling 19,745 square feet at Westcliff Shopping Center in Fort Worth. New tenants at the property include skateboarding and specialty apparel retailer Cowtown, Specialist Jewelry Clinic, Fort Worth Dance Academy and Organized Nest, a boutique professional services company. Ben Gehrke and Riley Dow of LanCarte represented the landlord, CTO Realty Growth Inc., in the lease negotiations.
HARRISON, N.J. — Locally based developer Advance Realty Investors has begun preleasing The Wyldes, a 399-unit multifamily project in the Northern New Jersey community of Harrison. The five-story building houses studio, one- and two-bedroom units that are furnished with stainless steel appliances, quartz countertops, custom cabinetry and individual washers and dryers. Amenities include a rooftop lounge with a bar and TVs; landscaped courtyard with fire pits and gaming areas; resort-style pool with grilling and dining stations; commercial-grade demonstration kitchen; coworking lounge with private offices and conference facilities; a billiards room with a media lounge and kitchenette; and a two-level fitness center with a yoga studio. Rents start at $2,050 per month for a studio apartment.
NORRISTOWN, PA. — Largo Capital, a commercial intermediary based in upstate New York, has arranged a $15 million loan for the refinancing of a multifamily property in Norristown, a northwestern suburb of Philadelphia. The unnamed property consists of 17 buildings totaling 328 units that were 99 percent occupied at the time of the loan closing. Neal Colligan of Largo Capital originated the financing. The direct lender and borrower were not disclosed.