NEW HAVEN, CONN. — A partnership between Adam America Real Estate, EPIMONI and BH Management Services has opened Olive & Wooster, a 299-unit apartment community in New Haven. Units feature studio, one-, two- and three-bedroom floor plans and are furnished with stainless steel appliances, quartz countertops, shaker cabinets and wood-style flooring. Amenities include a pool, fitness center, clubroom with a bar and a gaming area. Rents start at $1,258 per month.
PRINCETON, N.J. — Cushman & Wakefield has brokered the sale of a 78,922-square-foot life sciences facility located at 350 Carter Road in Princeton. The facility sits on 19 acres and houses a mix of chemistry and biology labs and other spaces designed to meet the needs of modern life sciences users. Gary Gabriel, David Bernhaut, Frank DiTommaso, Brett Grifo, Keith Braccia, Eric Johnstone, Shawn Straka and Todd Elfand of Cushman & Wakefield represented the seller, an affiliate of metro Philadelphia-based Equus Capital Partners, in the transaction.
BOSTON — Locally based mortgage banking firm Fantini & Gorga has arranged a $13 million loan for the refinancing of The Berkeley Building, a historic office and retail property in Boston’s Back Bay area. The building was originally constructed in 1906. Wayne Clough and Colin Monahan of Fantini & Gorga arranged the 10-year, fixed-rate loan through Lincoln Financial Group. The sponsor, Boston-based A.W. Perry Inc., will use a portion of the proceeds to fund capital improvements.
MIAMI — Locally based developer Shoma Group has purchased a 2.5-acre site located at 3650 Bird Road in Miami for $34 million. The buyer plans to build Shoma One, a $220 million mixed-use development, at the site. Configured in two 18-story towers, the development will feature 391 apartments with residences ranging in size from 375-square-foot micro studios to 1,400-square-foot, two-bedroom units. There will also be seven two-story residences ranging from 1,344 to 1,400 square feet, as well as a food hall. Amenities will include a bowling alley, lounge, daycare, yoga and spin studios, fitness center, bike room with repair station, dog park, coworking café and a spa with steam room, sauna and massage rooms. The property will also have a rooftop pool and pavilion with an outdoor grill, water features and lounge areas equipped with large projection screens for viewing parties. Shoma will link the property’s outdoor space to The Underline, a newly created linear park in Miami spanning 10 miles. Shoma plans to break ground on Shoma One in January 2023, and construction will take 18 to 24 months to complete. The site currently houses a car dealership named Deel Volvo. Michael Fay, John Crotty, David Duckworth and Brian …
CHICAGO — Clear Height Properties has sold an industrial portfolio totaling 450,034 square feet throughout metro Chicago for an undisclosed price. The seven-property portfolio is 94 percent leased to 66 tenants. The assets are located in Bensenville, Carol Stream, Des Plaines, Northbrook, Wheeling and Chicago. Erik Foster, Mike Wilson and Adam Haefner of Avison Young represented Clear Height, which completed improvements to several of the properties, in the sale. J&L Real Properties was the buyer.
CHICAGO — SVN | Chicago Commercial has brokered the sale of the Salvation Army campus in Chicago’s River West neighborhood for $25 million. The site on Grand Avenue consists of three buildings and is zoned for up to 567,000 buildable square feet. Scott Maesel, Drew Dillon, Chad Schroedl, Adam Thomas and Logan Parsons of SVN represented the long-term owner, Salvation Army. The buyer was not disclosed.
AKRON, OHIO — Green Harvest Capital LLC has purchased a nearly 64,000-square-foot historic warehouse in Akron with plans to convert the property into roughly 50 apartment units. The historic Akron Soap Co. building was formerly occupied by WhiteSpace Creative. Completed in 1893, the factory was built to manufacture soap and was later utilized by Pioneer Cereal Co. and Pockrandt Paint Co. The facility sat vacant for several years until White Hot Properties LLC purchased it in 2013 and converted the building into office space. Nichole Booker of SVN Summit Commercial Real Estate Advisors brokered the sale. The sales price was undisclosed.
HOFFMAN ESTATES, ILL. — Kinema Fitness has opened FitLab, a 31,680-square-foot fitness facility, at Bell Works Chicagoland in Hoffman Estates. FitLab offers personal training, health coaching, nutrition consultation, state-of-the-art equipment and a range of group fitness classes. NPZ Style+Décor designed the space. Bell Works Chicagoland is the redevelopment of the former AT&T campus. Somerset Development is the owner and developer.
ST. PAUL, MINN. — Kraus-Anderson has completed the interior buildout of the new office for Pope Design Group in St. Paul. The design firm, formerly known as Pope Architects Inc., now occupies a 16,760-square-foot office at the historic Case Building located at 767 N. Eustis St. The open floor plan was designed to maximize collaboration among employees. Kraus-Anderson and Pope have worked together on hundreds of projects over the past 50 years.
ATLANTA — A joint venture between Brand Properties LLC, Highwoods Properties Inc. and Batson-Cook Development Co. has broken ground on 2827 Peachtree, a boutique office building in Atlanta’s Buckhead district. The 135,000-square-foot property, which will feature 11,000 square feet of retail space, is 62 percent preleased. Designed by Atlas Collaborative, the project will include large, elevated patios with Wi-Fi access and private balconies for select offices. The main entrance will feature an archway with a valet drop-off, and amenities will include a fitness center, boardroom, covered parking and efficient operating systems. The project team includes civil engineer Planners and Engineers Collaborative and general contractor Batson-Cook Construction. The joint venture expects construction of 2827 Peachtree to be completed by the third quarter of 2023.
