LANDOVER, MD. — Colliers has arranged a 110,000-square-foot warehouse lease at 3341 75th Ave. in Landover, about 10 miles east of Washington, D.C. The tenant is ReadySpaces, a co-warehousing provider that recently launched three other East Coast locations in New Jersey and New York. Mike Davis and Mike McGugen of Colliers represented ReadySpaces in the lease negotiations. The landlord was not disclosed. The Landover deal brings ReadySpaces to 33 locations nationwide. The company provides flexible warehousing and office space ideally suited for small businesses. Each ReadySpaces location provides users with Wi-Fi, loading docks, forklifts, a shared conference room and kitchen and lounge areas, as well as a monthly pricing model.
DALLAS — Stonelake Capital Partners, a private equity firm with offices in Texas and Atlanta, will develop 2626 McKinney, a 180,000-square-foot office building in Uptown Dallas. The site is adjacent to a Whole Foods Market. The building will rise 17 stories and will offer amenities such as a lounge with a coffee and cocktail bar, communal kitchen, conference center, fitness center and a landscaped terrace. Cushman & Wakefield is marketing the development for lease. Completion is slated for summer 2025.
MANOR, TEXAS — The Manor Independent School District is underway on construction of a 116,000-square-foot elementary and middle school campus in the state capital’s northwestern suburb. The project is part of larger $174 million academic development initiative that also includes an 85,000-square-foot high school building. The campus, which will be able to support about 800 students in grades K through 8, will feature a media center, two art rooms, three maker spaces, performing arts classrooms and competition-level athletic fields. Birmingham-based HPM is providing project management, quality control and preconstruction services for the project.
MESQUITE, TEXAS — Locally based investment firm SPI Advisory has sold The Ventura Apartments, a 111-unit multifamily property located in the eastern Dallas suburb of Mesquite. Built in 2003, the property features one-, two- and three-bedroom floor plans and amenities such as a pool, fitness center, clubhouse and onsite laundry facilities. SPI Advisory acquired the asset in March 2021 and implemented a value-add program that upgraded the unit interiors, common areas and building exteriors. The buyer was not disclosed.
PHOENIX — Holualoa Cos. and LaPour Partners have completed the disposition of the AC Hotel Phoenix Biltmore by Marriott in Phoenix. Nella Invest bought the asset for $67.8 million, or $423,750 per room. Located at 2811 E. Camelback Road, the five-story hotel features 160 rooms in a mix of traditional rooms and suites. Amenities include AC Kitchen & Lounge, a fitness center, business center, outdoor pool, sundry shop, guest laundry and more than 5,000 square feet of meeting space. The hotel was developed as part of a mixed-use project along with the Camelback Collective Office Building, which sold in July 2022. Co-developers Holualoa and LaPour Partners purchased the site in October 2016. Melvin Chu, John Strauss and Ben Geelan of JLL Hotels & Hospitality represented the seller, with Halo Hospitality and DCA Partners as advisors to the buyer. Azul Hospitality Group operates the hotel.
MOAB, UTAH — Sonneblick-Eichner Co. has secured $50 million in construction financing for Phase I of Lionsback Resort, a 175-acre development in Moab. Situated adjacent to Canyonlands and Arches national parks, Lionsback’s $350 million, five-year development plans includes 188 single-family residences and a resort hotel. Proceeds from the fixed-rate, non-recourse construction loan will be used to complete the Phase I onsite infrastructure improvements and vertical construction of the initial 34 single-family homes, as well as the horizontal infrastructure of Phase II. Moab is located in the eastern portion of Utah, near the Colorado border, Colorado River and Arches National Park.
CARROLLTON, TEXAS — Lee & Associates has negotiated the sale of a 100,800-square-foot industrial facility that sits on a four-acre lot at 1401 Dunn Drive in the northern Dallas suburb of Carrollton. Stephen Williamson of Lee & Associates represented the buyer, metro Boston-based investment firm High Street Logistics Properties, in the transaction. Keenan Cook of Mercer Co. represented the seller, Charity Supply. The sales price was not disclosed.
SAN BERNARDINO, CALIF. — Paladin Equity Capital has purchased a 1.7-acre land site at 898 E. Harriman Place in San Bernardino from Los Angeles-based NHOS Enterprises. The buyer plans to develop an Everhome Suites extended-stay hotel on the site. Slated to break ground in summer 2023, the 60,000-square-foot hotel will feature 117 apartment-style guest rooms with fully equipped kitchens and customizable space, including workstations, full-size closets, additional storage and spa-like bathroom. Onsite amenities include public spaces, a fitness center and a 24/7 self-service marketplace with a variety of food and beverage options. Brad Umansky and Paul Galmarini of Progressive Real Estate Partners represented the seller, while Kevin Barry of Irish Commercial Brokerage represented the buyer in the transaction.
SEATTLE — Green Leaf Capital Partners has purchased Broadstone Sky, a mid-rise apartment community at 4745 40th Ave. S.W. in Seattle. David Young, Corey Marx, Chris Ross, Jordan Louie and Michael Lyford of JLL Capital Markets’ investment sales and advisory team represented the undisclosed seller in the deal. Terms of the transaction were not released. Completed in 2016, Broadstone Sky features 151 one- and two-bedroom units with an average size of 706 square feet, stainless steel appliances, quartz countertops, full-size washers and dryers, oversized windows and vinyl plank flooring. Community amenities include a 24-hour athletic center, rooftop deck, entertaining kitchen, resident lounge, two outdoor barbecue areas and an on-site coffee and wine shop.
HOUSTON — VeriTrust Corp., a provider of document shredding and other information management services, has signed a 41,937-square-foot industrial lease at 2155 Silber Road in northwest Houston. According to LoopNet Inc., the property was built in 1979 and totals 95,600 square feet. Chris Kugle of Partners represented the tenant in the lease negotiations. Carter Holmes and Matt Dewhirst of Holt Lunsford Commercial represented the undisclosed landlord.