EULESS, TEXAS — Weitzman has brokered the sale of Bear Creek Plaza, a 9,695-square-foot, fully leased retail strip center in Euless, located in the northern-central part of the metroplex. Tenants include restaurants Argentina 16/3, Chandni Chowk Grill and Osuma Suya, as well as dentistry practice Harwood Smiles and Texas Nail Bar. Kevin Butkus of Weitzman represented the buyer, Dallas-based Ouellette Equities, in the transaction. Tim Axilrod of SHOP Cos. represented the undisclosed, California-based seller.
JERSEY CITY, N.J. — The New Jersey Economic Development Authority (NJEDA) has approved approximately $90 million in tax credit equity for a 360-unit multifamily project in Jersey City. A developer doing business as 701 Newark Ave LLC will develop a 34-story building in the Journal Square neighborhood with affordable housing units and roughly 3,000 square feet of ground-floor retail space, as well as a public promenade. The NJEDA awarded the tax credit allocation, which represents about 60 percent of the total project cost, through its Aspire program, which provides gap financing for mixed-use, transit-oriented residential developments.
NEW YORK CITY — S3 Capital, the lending arm of New York City-based investment firm Spruce Capital Partners, has provided $80 million in financing for the development of a 131-unit multifamily project that will be located in Midtown Manhattan’s Turtle Bay area. The borrower is local developer David Halberstam. The doorman- and elevator-served building at 303 E. 44th St. will offer studio, one- and two-bedroom units and amenities such as a fitness center, rock climbing wall, rooftop pool, coworking lounge and a clubhouse. A portion of the residences will be earmarked as affordable housing. Sitework is underway, and completion is slated for the third quarter of 2027.
ATHENS, GA. — Atlanta-based Mallory & Evans has plans to develop The Shoals, a mixed-use development located near University of Georgia in Athens. The $95 million Phase I will feature 285 residences, 456 parking spaces (garage and street), green spaces and more than 20,000 square feet of retail and commercial space. Residences will come in studio to four-bedroom configurations in multiple formats — townhomes, duplexes, cottages, live/work units and single-family homes — and are expected to deliver in 2027. Phase I will span 22 acres of the 90-acre site, which will interface with the Athens Firefly & Greenway Trail system. Ultimately, The Shoals will feature more than 600 residences and commercial space across four connected pocket neighborhoods.
JACKSONVILLE, FLA. — American Landmark Apartments has acquired Rosemont St. Johns, a 420-unit apartment community located at 12310 Seacrest Lane in Jacksonville’s Southside neighborhood. Built in 2007, the property features a mix of one-, two- and three-bedroom apartments. Amenities include a resort-style swimming pool with a sundeck, clubhouse with resident lounge and entertainment kitchen, 24-hour fitness center, outdoor grilling and picnic areas and a dog park. The seller and sales price were not disclosed.
SAVANNAH, GA. — Atlantic Capital Partners has negotiated the $38.9 million sale of Twelve Oaks, a grocery-anchored shopping center located at 5500 Abercorn St. in Savannah. Publix has anchored the 104,915-square-foot center since 1992. Fred Victor of Atlantic Capital represented the buyer and seller in the transaction. Both parties requested anonymity. Twelve Oaks was 99 percent leased at the time of sale to tenants including Bonefish Grill, J. Parker Ltd., LensCrafters, Five Guys and Starbucks Coffee.
NEW YORK CITY — JLL has brokered the $49.5 million sale of 640 Broadway, a nine-story apartment building in Manhattan’s NoHo neighborhood. The building houses loft-style residential units and 4,200 square feet of retail space that is fully leased to tenants such as UPS, Two Hands Café and Van Leeuwen Ice Cream. Steven Rutman, Jeffrey Julien, Rob Hinckley and Ethan Stanton of JLL represented the seller, Acadia Realty Trust, in the transaction, and procured the buyer, a partnership between New York-based investment firm Pamera North America and local operator Targo Capital. Michael Gigliotti, Stephen VanLeer and John Flynn, also with JLL, arranged a $30.5 million acquisition loan for the deal through Citi Private Bank.
PEMBROKE PINES, FLA. — Marcus & Millichap has brokered the $25 million sale of Palm Square, a 77,621-square-foot shopping center located in Pembroke Pines, a city in South Florida’s Broward County. Kirk Olson and Drew Kristol of Marcus & Millichap represented the seller, Galium Capital, and procured the buyer, an affiliate of JBL Asset Management, in the transaction. Palm Square was 94 percent leased at the time of sale to tenants including Atlantic Montessori School, Goldfish Swim School, Smile Experts Dentistry, Florida Health Care and Fordham Fitness, as well as outparcels leased to Sherwin-Williams, Dunkin’ and KFC. Built in 1987, the shopping center last sold in 2019 for nearly $20.5 million, according to Olson.
STONE MOUNTAIN, GA. — Netherworld Haunted House has opened in Stone Mountain for its 29th season of operation. Situated at 1313 Netherworld Way on the outskirts of Stone Mountain Park, Netherworld comprises a rotation of haunted experiences, with this year’s themes including “Monster’s Attack” and “Oblivion: Return of the Mangler,” the latter of which features a “haunt within a haunt” called “Grendel’s Feast.” Beyond the self-guided haunted attractions, Netherworld features a carnival-style courtyard called Halloween Midway that features concessions, seating areas, a gift shop, interactive games, Halloween-themed décor and photo opportunities, as well as meet and greets with some of the park’s horror characters. Additionally, the park offers five year-round escape rooms and the House of Creeps Monster Museum, which displays props, artifacts and memorabilia used in horror and science fiction movies and TV shows. Netherworld first opened in 1997 off Jimmy Carter Boulevard before relocating to its 10-acre Stone Mountain complex in 2017.
WATCHUNG, N.J. — Locally based financial intermediary G.S. Wilcox & Co. has arranged $26 million in financing for the redevelopment of the 420,000-square-foot Blue Star Shopping Center in Watchung, located in Northern New Jersey. David Fryer of G.S. Wilcox arranged the loan, which features full-term, interest-only payments, through an undisclosed life insurance company. Phase I of the project, which centered on the redevelopment and expansion of a ShopRite grocery store, was completed earlier this year. Phase II will involve transforming the former ShopRite space to welcome Burlington and the relocation of Marshalls. Levin Management Corp. manages and leases Blue Star Shopping Center.