HOUSTON — Colliers has negotiated the sale of a 178,495-square-foot office building in West Houston. According to LoopNet Inc., the 10-story building at 2401 Fountain View Drive was built in 1981 and renovated in 2017 and offers amenities such as a conference center and an onsite restaurant. David Carter of Colliers represented the undisclosed seller in the transaction. The buyer and sales price were also not disclosed.
MIDLAND, TEXAS — Speed Fab-Crete, a Fort Worth-based design-build firm and general contractor, has completed the 41,688-square-foot Classic Honda of Midland. The car dealership complex spans seven acres and houses a 36,869-square-foot main dealership building, a 3,343-square-foot pre-owned vehicle facility and a 1,476-square-foot car wash. Fort Worth-based Callahan & Freeman designed the project.
LA PORTE, TEXAS — Clay Development & Construction has broken ground on a 40,000-square-foot speculative industrial project in La Porte, located east of Houston. The site is located within the 300,000-square-foot Sens Road Business Park, and the building will feature 24- to 28-foot eave heights and build-to-suit office space. Completion is slated for the second quarter of 2026. Colliers is the leasing agent for the new building.
NEW YORK CITY — A joint venture between Smith Hill Capital, the commercial real estate debt investment management business of the Procaccianti Cos., and Boston-based Bain Capital has received a $216 million loan for the refinancing of the 774-room Westin New York Grand Central Hotel. The hotel features 18,750 square feet of meeting and event space, a fitness center and a full-service restaurant. The joint venture acquired the hotel in 2019 and undertook renovations in 2021. JLL arranged the debt on behalf of ownership. The direct lender was not disclosed. The hotel first opened in 2012.
TETERBORO, N.J. — Metro Philadelphia-based developer Seagis Property Group has completed a 166,725-square-foot warehouse in the Northern New Jersey community of Teterboro. Known as Teterboro Distribution Center, the building at 200 Hollister Road offers proximity to Port Newark-Elizabeth and Liberty International Airport. Building features include a clear height of 40 feet, 3,580 square feet of office space, 37 loading docks, 185-foot truck court depths and parking for 46 trailers and 114 cars. CBRE is marketing the property for lease.
RIVERHEAD, N.Y. — New Jersey-based financial intermediary Cronheim Mortgage and Singer Financial have co-arranged a $16 million acquisition loan for Riverhead Medical Office Park on Long Island. Riverhead Medical Office Park consists of six single-story buildings totaling 101,949 square feet that were fully leased at the time of the loan closing. Andrew Stewart and Brandon Szwalbenest of Cronheim Mortgage, in conjunction with Gregg Singer of Singer Financial, arranged the fixed-rate loan on behalf of the owner, Miami-based Candor Capital. The direct lender was an undisclosed life insurance company.
READING, PA. — NAI Emory Hill, in partnership with NS Development Partners, has purchased a 105,000-square-foot industrial building in Reading, located northwest of Philadelphia. The site at 3030 Kutztown Road spans 8.3 acres, and the facility can support both manufacturing and warehousing uses. Building features include a clear height of 24 feet, seven loading docks, 140 parking spaces and 25,000 square feet of office space. The building was 80 percent leased at the time of sale, with industrial communications systems provider GAI-Tronics serving as the anchor tenant.
FRANKLIN, TENN. — A joint venture between Boyle Investment Co., Northwood Investors and Northwood Ravin has opened Block E, a new 300,000-square-foot mixed-use building in Franklin, a city in Nashville’s Cool Springs district. The nine-story, $125 million property is one of the anchors of the McEwen Northside mixed-use development. Block E features a modern training room, full-service fitness center, offices, ground-level retail space and a parking garage. Office tenants include TMPartners PLLC, also the project’s architect, and Designed Conveyor Systems, a supply chain company. Retail tenants include Culinary Dropout, Oak Hall and Hawkers Asian Street Food. In addition to TMPartners, the design-build team includes civil engineer Kimley-Horn and general contractor Hoar Construction. Northwestern Mutual partnered with Boyle Investment, Northwood Investors and Northwood Ravin on the project.
NEW YORK CITY — Locally based brokerage firm TerraCRG has negotiated the $12.4 million sale of a portfolio of four multifamily buildings totaling 17 units in the Red Hook area of Brooklyn. The buildings are located within six blocks of each other along Van Buren Street and include two retail spaces. Daniel Lebor and Matthew Cosentino of TeerraCRG represented the seller, REDHOEK+, in the transaction. Blue Sky Diner Inc. was the buyer. The sales price translates to a cap rate of approximately 6 percent.
OWINGS MILLS, MD. — TruAmerica has acquired Arbor Ridge Apartments, a 348-unit community located at 9204 Appleford Road in Owings Mill, a suburb of Baltimore. Bill Roohan and Brian Margerum of CBRE brokered the transaction, while Ryan Greer and Maxi Leachman, also with CBRE, arranged the permanent financing. The seller, sales price and loan amount were not released. Built in 1999, Arbor Ridge Apartments offer one-, two- and three-bedroom floorplans, ranging in size from 673 to 1,204 square feet, according to Apartments.com. Amenities include a swimming pool, sundeck, fitness center, business center, clubhouse, grilling and picnic areas and a dog park. TruAmerica plans to renovate the property with interior upgrades and amenity improvements.
