BROOKSHIRE, TEXAS — Colliers has negotiated a 167,120-square-foot industrial lease in the western Houston suburb of Brookshire. The tenant was not disclosed. According to LoopNet Inc., the building at 814 FM 1489 features a front-load configuration, 32-foot clear heights, 145-foot truck court depths, 38 dock-high doors, 149 car parking spaces and 3,802 square feet of office space. Robert McGee, Taylor Schmidt and Austin Bartula of Colliers represented the landlord, which also requested anonymity, in the lease negotiations.
SUMMERFIELD, FLA. — Colliers has brokered the $13.5 million sale of Spruce Creek Shoppes, a 42,203-square-foot shopping center located at 17860 S.E. 109th Ave. in Summerfield. The retail center sits within the trade area of The Villages, a master-planned community in Central Florida often cited as the No. 1 retirement destination in America. Tommy Isola, Harry Blyden and Billy Weiser of Colliers represented the seller, an entity doing business as Spruce Creek Holdings, in the transaction. About 80 percent of Spruce Creek Shoppes’ tenancy are restaurant, medical and service-oriented retailers, according to Colliers.
FAIRFIELD, ALA. — Red Oak Capital Holdings LLC has provided a $10.2 million bridge loan for the $3.5 million acquisition and $6.6 million repositioning of Chateau Glen Oaks Apartments, a 230-unit, garden-style community located in Fairfield, a suburb of Birmingham. Chris Litzler of Marcus & Millichap arranged the financing on behalf of the borrower, an entity doing business as Fairfax Holdings LLC. Stratos Athanassiades, Thomas Gorski and James Myatt of Red Oak originated the non-recourse loan, which features a two-year initial term, interest-only payments and a loan-to-stabilized value ratio of 70.8 percent. Built in 1972 on 13.5 acres, Chateau Glen Oaks was approximately 20 percent occupied at the time of financing. The sponsor’s renovation plans comprise extensive interior improvements, including new flooring, finishes, appliances, cabinets, drywall repairs, LED lighting, painting and limited window repairs and replacements. Exterior improvements are expected to include roof and parking lot repairs, landscaping, security cameras, masonry repairs, lighting upgrades, pool improvements and the addition of amenities such as a dog park, pickleball court, playground and a picnic area.
DUNCANVILLE, TEXAS — Locally based brokerage firm Bill Foose Co. has arranged the sale of a 13,000-square-foot retail building in Duncanville, located south of Dallas, that was formerly occupied by CVS. According to LoopNet Inc., the building at 615 S. Cockrell Hill Road was originally constructed in 1997. Bill Foose Co. represented the seller, an entity doing business as Duncanville Associates, in the transaction. The undisclosed buyer plans to open an indoor amusement park within the building.
HOUSTON — RPT Alliance has signed an 11,847-square-foot office lease expansion in northwest Houston. The oil-and-gas services provider now occupies 25,244 square feet at Sam Houston Crossing II, a 159,056-square-foot building. JLL represented RPT Alliance in the lease negotiations. Louann Pereira and Doug Little of Transwestern represented the landlord, California-based Buchanan Street Partners.
ATHENS, GA. — Landmark Properties, an Athens-based residential developer primarily known for its nationwide portfolio of student housing communities, has announced its expansion into the seniors housing sector. The firm plans to pursue both ground-up development and acquisition opportunities in the senior living space. “Seniors housing sits at an attractive inflection point, having made a meaningful recovery from a unique black swan event and now exhibiting a pronounced supply-demand imbalance,” says Walt Templin, president and chief investment officer of Landmark. “This dynamic creates a compelling entry point for Landmark to leverage its vertically integrated platform.” Landmark has appointed Shashank Goel to lead the company’s entry into seniors housing. Goel will serve as senior director of U.S. seniors housing investment management. Goel, who has more than 10 years of experience in seniors housing, most recently served as assistant vice president at Harrison Street.
NEW YORK CITY — New York-based investment firm Atlas Capital Group has purchased a 130-unit apartment building in Manhattan’s East Village. The 13-story building at 250 E. Houston St., which according to StreetEasy offers studio, one- and two-bedroom units, also houses 9,000 square feet of commercial space. Approximately 75 percent of the units have private balconies. Amenities include a rooftop terrace, landscaped courtyard spaces, an athletic club and a tenant lounge. Rob Hinckley and Jeff Julien of JLL brokered the deal. The seller and sales price were not disclosed.
NEW YORK CITY — New York-based brokerage firm Adirondack Capital Partners has arranged the $18.5 million sale of a retail property in Manhattan’s NoHo neighborhood. Birkenstock occupies the entire 2,300 square feet of leasable space within the two-story building at 120 Spring St. The seller was an entity doing business as 120 Spring Realty Associates LLC. The buyer was a nigh-net-worth Japanese investor. Michael Hunter Coghill of Adirondack Capital brokered the all-cash deal.
BRAINTREE, MASS. — Regional brokerage firm Hunneman has negotiated a 24,103-square-foot office lease in Braintree, a southern suburb of Boston. The tenant is the Massachusetts Department of Children & Families, and the space is located within Forbes Business Center, a three-building, 150,000-square-foot development. Ned Halloran and Leeanne Rizzo of Hunneman represented the landlord, KS Partners, in the lease negotiations.
GARDEN CITY, N.Y. — QSAC, a nonprofit organization supporting people with autism, has signed a 23,633-square-foot office lease in Garden City, located on Long Island. The space spans portions of the first and second floors of the building at 711 Stewart Ave. Kyle Crennan and Joe Lopresti of JLL represented the landlord, Benedict Realty Group, in the lease negotiations. Roy Chipkin of CBRE represented the tenant.