BIRMINGHAM, ALA. — Berkadia has brokered the $8.5 million sale of Hampton Inn & Suites Birmingham East Irondale, a 99-room hotel located at 950 Old Grants Mill Road in Birmingham. Dan Hawkins and Jake Pietras of Berkadia’s Hotels & Hospitality division completed the sale on behalf of the undisclosed seller. The buyer was also not disclosed. Amenities at the Hampton Inn hotel include an indoor pool, fitness center, business center, a complimentary breakfast and 576 square feet of meeting space.
ZUG, SWITZERLAND — IWG plc, a Swiss coworking provider, plans to open five new Regus-branded flexible offices in North and South Carolina. The five locations include 3511 Shannon Road in Durham; 8024 Glenwood Ave. in Raleigh; 140 Stoneridge Drive in Columbia, S.C.; 222 N Lafayette St. in Shelby, N.C. (Charlotte suburb); and 900 Trail Ridge Road in Aiken, S.C. (Augusta suburb). All five locations will offer IWG’s full suite of services, including private offices, coworking and collaboration spaces, meeting rooms and a host of tech services, including IT support. The new Carolinas locations are part of IWG’s plan to add more than 500 locations throughout the United States.
FREDERICK, MD. — Edge has negotiated a 20,000-square-foot retail lease with Partner Veterinary Emergency and Specialty Center at Frederick Crossing, a nearly 300,000-square-foot power retail center located at 7330 Guilford Drive in Frederick. Kristin Rebeck of Edge represented the tenant, which plans to open the clinic in the spring and employ roughly 70 people once fully operational. Adam Greenberg of DLC Management Group represented the landlord, a partnership between DLC and Acadia Realty Trust. Situated near I-70, Frederick Crossing’s tenant roster includes Kohl’s, Best Buy, Regency Furniture, Ross Dress for Less, Off Broadway Shoes, Five Below, Ulta Beauty and Dollar Tree.
DALLAS — Morning Calm Management, an investment and management firm based in South Florida, has purchased Towers at Park Central, an 875,000-square-foot office complex located at the corner of LBJ Freeway and U.S. Highway 75 in North Dallas. Towers at Park Central features a conference facility with training rooms, fitness center, tenant lounge and onsite food options, and the undisclosed seller previously invested more than $7 million in capital improvements during its hold period. Tenants include SCP Health, foodmaker Daisy Brand and insurance company Arthur J. Gallagher. Morning Calm Management has tapped Newmark to lease the complex.
COLLEGE STATION, TEXAS — Tailwind Group has acquired Campus Crossings on Marion Pugh, a 628-bed student housing property located near Texas A&M University in College Station. The community comprises 30 residential buildings offering a mix of one- and two-bedroom units. Shared amenities include two pools, a clubhouse, business center, dog park, fire pits and barbecue grills, as well as sand volleyball, tennis and basketball courts. The new ownership has plans to rebrand the property and invest in significant capital improvements. Campus Apartments sold the property. Brandon Buell of Berkadia brokered the deal.
AZLE, TEXAS — Marcus & Millichap has brokered the sale of Azco Center Point Storage, an 276-unit facility in Azle, located northwest of Fort Worth. The facility spans 37,228 net rentable square feet. Danny Cunningham and Brandon Karr of Marcus & Millichap represented the seller, a local investment group, and procured the buyer, a private partnership, in the transaction.
FORT WORTH, TEXAS — Locally based energy firm SPM Oil & Gas has signed a 168,017-square-foot industrial lease renewal at Railhead Industrial Park in Fort Worth. The 633-acre development is located at the corner of Northeast Loop 820 and Blue Mound Road on the city’s north side. George Jennings and Matt Carthey with Holt Lunsford Commercial represented the landlord, James Campbell Co., in the lease negotiations. George Curry of JLL represented the tenant.
FORT WORTH, TEXAS — Texas Christian University (TCU) has broken ground on a 95,000-square-foot medical education building in Fort Worth. The Anne Burnett Marion School of Medicine, named after a late area philanthropist, will be located in the Near Southside District and will be able to support 240 students. Project partners include design firms CO Architects and Hoefer Welker, engineering firms Dunaway and SSR Inc. and construction manager Linbeck. Completion is slated for July 2024.
MELVILLE, N.Y. — Northmarq has arranged a $32 million loan for the refinancing of a 273,103-square-foot office building located on the Long Island community of Melville. The four-story building at 445 Broadhollow Road was constructed in 1981 and renovated in 2021. Ernest DesRochers, Charles Cotsalas and Robert Delitsky of Northmarq arranged the 10-year, nonrecourse loan, which carried a fixed interest rate and a 25-year amortization schedule, on behalf of the undisclosed borrower. The direct lender was also not disclosed.
ENGLISHTOWN, N.J. — F.M. Ferrari Investments has acquired Royal Pines at Marlboro, an 89-unit active adult community in Englishtown, located in the Garden State’s Raritan Valley area. The sales price was $29.9 million. Built in 2008, Royal Pines at Marlboro offers one- and two-bedroom units that are mostly restricted to renters age 55 and above. Amenities include a fitness center, business center, game room, library and outdoor grilling and dining areas. Michael Oliver, Jose Cruz, J.B. Bruno, Steve Simonelli and Michael Zlotnick of JLL represented the seller, a joint venture between GRJ and Castellan Real Estate Partners, in the transaction.