GARLAND, TEXAS — Primary and specialty care provider WellMed Medical Management has signed an 11,599-square-foot healthcare lease at Valoris Healthpark in Garland, a northeastern suburb of Dallas. The 73,000-square-foot facility was originally constructed in 2002, according to LoopNet Inc., and recently received $1.5 million in capital improvements. Austin Barrett of JLL represented the landlord, Prevarian Cos., in the lease negotiations. MedCore represented the tenant.
SOUTH LYON, MICH. — Fitness concept Warehouse Pilates has signed a 1,600-square-foot retail lease at Brookdale Square in South Lyon, about 40 miles northwest of Detroit. The shopping center is located near the intersection of 9 Mile Road and Pontiac Trail. Michael Murphy and Tjader Gerdom of Gerdom Realty & Investment represented the landlord, Beztak Properties. Rob and Reece Hughes of RH Commercial Realty represented the tenant.
NEWINGTON, CONN. — Northmarq has arranged $37.5 million in financing for The Pike, a 151-unit multifamily project in Newington, located in Hartford County. The financing, which represents about 85 percent of the total project cost, consists of a $25 million construction loan from an undisclosed bank and $12.5 million in private equity from an undisclosed partner. The Pike will offer 65 one-bedroom and 86 two-bedroom units, with 10 percent of the residences to be designated as workforce or affordable housing. Amenities will include a fitness center, community room and an outdoor recreation area. The borrower and developer is Florida-based Smith & Henzy. Construction is expected to last about 24 months.
NEW HAVEN, CONN. — Marcus & Millichap has brokered the sale of a 64,418-square-foot self-storage development site in New Haven. The site is fully approved for the development of a four-story facility that will feature 45,525 net rentable square feet of climate-controlled space across 456 units. Luke Dawley, Nathan Coe, Brett Hatcher and Gabriel Coe of Marcus & Millichap represented the seller and procured the buyer in the transaction. Both parties were limited liability companies that requested anonymity. John Krueger of Marcus & Millichap assisted in closing the deal as the broker of record.
PHILADELPHIA — JLL has negotiated the sale of Aramingo Plaza, a 64,163-square-foot shopping center in Philadelphia. Apparel and accessories retailer Forman Mills anchors the center, which was originally built in 1920 and was fully leased at the time of sale. Other tenants include Citizens Bank, AT&T, Checkers and Vision Works. Christopher Munley, Jim Galbally and Colin Behr of JLL represented the seller, New Jersey-based Heidenberg Properties, in the transaction. Locally based investment firm Abrams Realty & Development acquired the asset for an undisclosed price.
MAINE — Dallas-based investment firm MAG Capital Partners has acquired a 60,000-square-foot cold storage facility that is located in an undisclosed community in southern coastal Maine. MAG Capital Partners acquired the property, which primarily functions as a seafood processing facility, via a sale-leaseback in an off-market deal. Additional terms of the transaction were not disclosed.
FRAMINGHAM, MASS. — Coworking concept Workbar will open a 21,460-square-foot space at 111 Speen St. in Framingham, a western suburb of Boston. According to LoopNet Inc., the property was built in 1985, rises five stories and totals 119,095 square feet. The property is also in the midst of a $5 million renovation. Philip DeSimone, Andrew Sherman, Todd Alexander and Ross Miner of Kelleher & Sadowsky represented the landlord, a partnership between Paradigm Partners and North Colony Asset Management, in the lease negotiations. Workbar expects to debut the space this spring.
LAS VEGAS — Evening Entertainment Group (EEG), in partnership with Creation, has unveiled plans for Bottled Blonde. Slated to open in late 2024, the asset will be a $50 million, four-story, 25,000-square-foot, standalone entertainment venue on the Las Vegas Strip. The full-service restaurant, bar and beer garden will feature an open-air rooftop lounge and a hub for sports, entertainment and nightlife. Bottled Blonde will offer craft cocktails, frozen adult beverages, fine wines, premium beers, a mimosa tower, 128-ounce beer tower and bottle service. Additionally, Bottled Blonde Las Vegas will also feature Zuluma, an all-new concept on the third floor.
ALAMEDA, CALIF. — The Alameda Housing Authority (AHA) has received $20.6 million from the State of California Department of Housing and Community Development. The funds will support development of North Housing Senior Apartments, an affordable housing community in the island city, located just south of Oakland in San Francisco Bay. North Housing is the first phase of a long-planned community development project. Plans call for 40 studio apartments, 23 one-bedroom units and a two-bedroom residence for the onsite manager. The land, which AHA originally owned in the 1940s, was granted back to AHA in 2019 via the Surplus Land Act by the U.S. Navy. The land will now serve as the home for a property that houses military veterans — 25 percent of the residents at North Housing will be veterans in need of supportive housing. Island City Development (ICD), an affiliate of AHA, will be the developer of this project. HKIT Architects designed the property, which FPI Management will operate. Groundbreaking is scheduled for late 2023 or early 2024.
LAKEWOOD, COLO. — Marcus & Millichap has brokered the sale of a portfolio of four apartment communities in Lakewood, a first-ring suburb on the west side of Denver. A limited liability company sold the assets to another limited liability company for a combined price of $17.6 million. Totaling 92 units, the portfolio includes La Ronja Apartments, Allison West Apartments, Ammons at Belmar Apartments and Two Creeks Crossing Apartments. Spencer Shaffer and Greg Price of Marcus & Millichap’s Denver office represented the seller, while Greg Parker, Jason Hornik and Kent Guerin of Marcus & Millichap’s Denver office procured the buyer in the transaction.