SAN MARCOS, TEXAS — Buc-ee’s has opened a 74,000-square-foot travel center in San Marcos, located roughly midway between Austin and San Antonio. The facility at 3245 N. I-35 features 128 fueling positions and is expected to account for the creation of more than 200 new jobs within the local economy. A ribbon-cutting ceremony took place on Wednesday, Aug. 12. Buc-ee’s, which is based in the Houston area, now operates 36 travel centers throughout Texas.
HOUSTON — Colliers has brokered the sale of Northwest Technical Center, an industrial complex in northwest Houston that according to LoopNet Inc. was built in 1975 and totals 32,442 square feet. Ben Condara and Jon Lindenberger of Colliers represented the undisclosed seller in the transaction. The buyer, local investment firm Pine Ridge Real Estate, plans to make both interior and exterior capital improvements to the property and has also retained Colliers as the leasing agent.
PERTH AMBOY, N.J. — Kurv, the industrial development and investment firm formerly known as Bridge Industrial, is underway on construction of a 471,231-square-foot project in the Northern New Jersey community of Perth Amboy. Kurv Perth Amboy III will feature a clear height of 40 feet, 69 exterior docks, two drive-in doors, 2,550 square feet of office space and parking for 243 cars and 120 trailers. The groundbreaking took place over the summer, and the space is expected to be available for occupancy early next year. CBRE is marketing the building for lease.
NEW YORK CITY — JLL has negotiated the $31 million sale of Kingswood Center, a 226,130-square-foot mixed-use property in Brooklyn’s Midwood neighborhood. Kingswood Center is a three-story building that includes retail space that is anchored by T.J. Maxx in addition to a 257-space parking garage. Ethan Stanton, Michael Mazzara and Brendan Maddigan of JLL represented the seller, Midland Loan Services, in the transaction. Scott Aiese and Alex Staikos, also with JLL, arranged acquisition financing on behalf of the buyer, Bridges Development Group.
NEW YORK CITY — Marcus & Millichap has brokered the $16.6 million sale of 312 Bowery, a 22-unit apartment building in Manhattan’s NoHo neighborhood. The five-story building, which includes a 3,900-square-foot commercial space that is leased to an art gallery, was originally constructed in 1920 and converted to residential use in 2004. John Stewart and Dylan Torey of Marcus & Millichap represented the seller, Bremen House Inc., in the transaction and procured the buyer, Allied Realty & Development Corp.
DURHAM, N.H. — Gilbane is nearing completion of a 70,500-square-foot civic project at the University of New Hampshire, located in Durham near the Maine border. Designed by Stantec, the building will house the Center of Excellence for Operational Ocean and Great Lakes Mapping, as well as the John Olson Advanced Manufacturing Center, and will support research, applied training and technical assistance within those industries. A beam-signing ceremony took place in mid-July, and the facility is expected to be fully complete next fall.
NEWPORT NEWS, VA. — Merchants Capital has arranged $97.8 million in financing for the rehabilitation of Stuart Gardens, a 491-unit affordable housing property located in Newport News. Merchants Capital secured a $62.8 million HUD 221(d)(4) loan and $35 million in equity bridge loans provided by Merchants Bank, an affiliate of Merchants Capital. Stuart Gardens’ capital stack also includes low-income housing tax credit (LIHTC) equity, federal and state historic tax credits and Green and Resilient Retrofit Program (GRRP) financing via HUD for energy efficient improvements. The current owner and developer, Vitus Group, is leading the rehabilitation of the property, which will include exterior improvements like a new playground, connections to an adjacent park and walking path, and fresh roofing, siding and exterior doors and windows. In-unit repairs will include the replacement of existing flooring, updated appliances, new kitchen cabinetry and updated bathrooms. Stuart Gardens comprises 109 two-story buildings. All residential units are reserved for families earning 60 percent of the area median income (AMI) under a Section 8 Housing Assistance Payment (HAP) contract. Built in 1941 by the Defense Homes Corp. during World War II, the property has been designated as a historic property by the Virginia Board of Historic Resources. Upon …
ALEXANDRIA, VA. — A public-private partnership between Fairstead, Harkins, Alexandria Redevelopment and Housing Authority (ARHA) and The Communities Group has topped out the $120 million redevelopment of Old Town Alexandria’s historic Samuel Madden public housing complex. Upon completion, the six-story, 295,000-square-foot mixed-use project will feature 207 affordable housing residences reserved for families earning between 30 and 80 percent of the area median income (AMI). As part of the building initiative, the project includes efforts to record and preserve the stories of current and former residents, with a goal of capturing at least 10 oral histories. Key archaeological findings will be showcased in brochures and interpretive signage across the community. Planned for completion in 2027, the project will feature community gathering spaces, a new neighborhood food hub operated by ALIVE!, as well as other amenities designed to support residents and the broader Alexandria community like a new creative studio for podcast recording, a game room with free high-speed internet access, an interior courtyard and energy- and water-efficient design strategies developed in partnership with the Virginia Center for Housing Research at Virginia Tech.
FRANKLIN, TENN. — JLL Capital Markets has arranged the sale of Southside at McEwen, a 92,470-square-foot retail center located in Franklin, roughly 20 miles south of downtown Nashville. Jim Hamilton, Brad Buchanan and John Perry Hilton of JLL represented the seller, New York City-based Nuveen Real Estate, in the transaction. Dallas-based Lincoln Property Co. served as the investment advisor for the buyer, a high net-worth family office. The sales price was not disclosed. Whole Foods Market anchors Southside at McEwen, which was built in 2012 on approximately 10.5 acres. The fully leased center features a mix of additional tenants such as lululemon, Flower Child, Solidcore, BrickTop’s, Kendra Scott, Fab’rik and PNC Bank.
MIAMI — Two new anchor retail tenants have opened at Dadeland Station, a 350,000-square-foot, three-level retail power center located in Miami, just east of the Dadeland Mall. Burlington opened in August, followed by Marshalls in September. Together, the off-price retailers add approximately 62,000 square feet of leased space to the property. The new stores join a roster of additional tenants including Target, Best Buy, Michaels, PetSmart, Starbucks Coffee, Subway, Avis, Enterprise Rent-A-Car and Lan Pan-Asian Café. Berkowitz Development Group holds a 60 percent majority stake in Dadeland Station, managing and operating the property since its construction in 1996. The remaining 40 percent is privately held by investment partners.