COPPELL, TEXAS — McLaren Automotive has opened a 31,000-square-foot office and showroom at 1405 S. Belt Line Road in the central metroplex city of Coppell. The space will house the North American operations of McLaren’s sports car division, which the British luxury auto manufacturer has relocated from New York. Dallas-based Merriman Anderson Architects designed the space, which also features a training center and workshop.
SAN ANTONIO — Northmarq has brokered the sale of Judson Meadows, a 28-unit apartment complex in San Antonio. The property was built in 2007 and offers a playground, dog park and outdoor picnic areas. Zar Haro, Moses Siller, Bryan VanCura and Phil Grafe of Northmarq represented the undisclosed seller in the transaction. The buyer and sales price were also undisclosed.
SOMERVILLE, MASS. — JLL has arranged a $230 million construction loan for 15 McGrath Highway, a 262,000-square-foot life sciences project that will be located in the northern Boston suburb of Somerville. The nine-story, transit-served facility will include commercial space and below-grade parking. Completion is slated for late 2024. Brett Paulsrud, Henry Schaffer and Mike Shepard of JLL arranged the nonrecourse loan on behalf of the borrower, a partnership between DLJ Real Estate Capital Partners, Leggat McCall Properties and Deutsche Finance America. Oxford Properties Group provided the financing.
ST. PETERSBURG, FLA. — Suffolk Construction Co. has been selected to build The Residences at 400 Central, a 46-story mixed-use condominium tower located in downtown St. Petersburg. The 1.3 million-square-foot project will feature 301 condominiums, shops, Class A offices, restaurants and a rooftop observatory with views from Tampa Bay to the Gulf of Mexico. The condos will consist of one- to four-bedroom floorplans, as well as some customized penthouse homes. Residents will have access to more than 35,000 square feet of private indoor and outdoor amenities upon completion. Construction crews are preparing to drill test pilings for the 400 Central tower foundation, which will be immediately followed by the start of foundation work. Red Apple Real Estate and Michael Saunders & Co. are the development team behind 400 Central. The duo established a sales gallery near the site at 465 Central Ave.
MANCHESTER, N.H. — An affiliate of Boston-based DSF Group has sold Halstead Manchester, a 640-unit apartment community located in the southern part of The Granite State, for $164.6 million. Originally built between 1981 and 1985, the market-rate property comprises 16 three-story buildings and two single-story amenity buildings on a 41-acre site. According to Apartments.com, Halstead Manchester offers one- and two-bedroom units that range in size from 650 to 1,100 square feet. Biria St. John, Simon Butler and John McLaughlin of CBRE represented DSF Group in the transaction. The buyer was not disclosed.
NASHVILLE, TENN. — JLL has opened a 26,000-square-foot flex office and coworking space on the top floor of Cummins Station, a mixed-use adaptive reuse development located at 209 10th Ave. S in downtown Nashville. Named prosprCS, the space features private offices, coworking space, meeting rooms, team suites and virtual offices. The space comes equipped with ergonomic furniture, Tier 1 fiber broadband internet access, interactive client portals to book meeting rooms digitally, an onsite hospitality team and in-place audio-visual equipment. JLL is leading the leasing and management operations of prosprCS. Developed and managed DZL Management, Cummins Station spans more than 400,000 square feet and features the Gibson Guitar U.S. headquarters, the Gibson Garage flagship retail store, Smart USA Co., Revive and Outback Presents.
BURLINGTON, N.C. — Ziegler has arranged three separate loans to fund the acquisition of The Village at Brookwood (TVAB), a continuing care retirement community (CCRC) in Burlington. Opened in 2003, TVAB features 155 independent living units, 12 assisted living units, 12 memory care units and 24 skilled nursing units on a 47-acre plot. The buyer, Well-Spring, is the current operator and also owns and operates a second CCRC in nearby Greensboro, N.C. Alamance Regional Medical Center originally developed TVAB, but the health system was acquired by Cone Health in 2011, after which Well-Spring was installed as operator. Ziegler served as the placement agent for the taxable loans with Pinnacle Bank as the lender. The amount of the financing was not disclosed. In addition to the acquisition, the transaction will fund capital improvements at the campus.
WESTBOROUGH, MASS. — New Jersey-based investment and development firm Atlantic Management has received $96.5 million in financing for two industrial properties that are located in Westborough, about 35 miles west of Boston. The company received a $70.5 million loan for the refinancing of 50 Otis Street, a 406,437-square-foot building that was renovated and expanded in 2021. In addition, Atlantic Management received a $26 million construction loan for 54 Otis Street, a 100,000-square-foot development that will be a build-to-suit for an undisclosed e-commerce user that also fully occupies 50 Otis Street. Completion of 54 Otis Street is slated for mid-2023. Robert Griffin, David Douvadjian Sr., Timothy O’Donnell, Brian Butler, David Douvadjian Jr. and Conor Reenstierna of Newmark arranged the loans. The direct lender was not disclosed.
FORT WALTON BEACH, FLA. — Stan Johnson Co. has arranged the $8.4 million sale of Beal Commons, a 15,982-square-foot retail strip center located at 575 Beal Parkway NW in Fort Walton Beach. Chase Dominguez of Stan Johnson Co. represented the seller, an undisclosed local developer, in the disposition of the property to an individual investor based in Arizona. Both parties were involved in 1031 exchanges. The center was built in 2006 and renovated in 2019. Tenants at the time of sale included Starbucks Coffee, FedEx Office, Verizon Wireless and Ruby Tuesday.
TEANECK, N.J. — Minnesota Life Insurance Co. has provided a $32 million loan for the refinancing of Glenpointe Centre East and Atrium at Glenpointe, two office buildings totaling 320,000 square feet that are located in the Northern New Jersey community of Teaneck. Glenpointe Centre East totals 240,000 square feet, and Atrium at Glenpointe spans 80,000 square feet. Tenants at both buildings, which were built in 1982 and were 94 percent leased at the time of the loan closing, have access to a 26,000-square-foot health club and both structured and surface parking areas. Thomas Didio Sr., Thomas Didio Jr. and Salvatore Buzzerio of JLL arranged the loan on behalf of the borrower, New Jersey-based Alfred Sanzari Enterprises. The debt was structured with a 10-year term and a fixed interest rate.