BUFORD, GA. — RangeWater Real Estate has purchased 50 acres in the Atlanta suburb of Buford with plans to build two adjacent residential communities totaling 488 units. The properties include The Mabry, a build-to-rent community with 156 single-family homes, and The Margot, a 332-unit apartment community. The Mabry will feature three- to four-bedroom homes, each with its own backyard and patio. Amenities will include a pool, events lawn, dog park and a walking trail around a pond. The Margot will feature a garden, pool, outdoor kitchen, two dog parks and a clubhouse that will feature work and study pods and a coffeehouse open to the public. The communities will be located near Coolray Field, home ballpark of the Atlanta Braves’ Minor League Baseball affiliate Gwinnett Stripers, as well as The Exchange @ Gwinnett and Mall of Georgia. Additionally, RangeWater launched an in-house construction division called RangeWater Construction that will build both The Mabry and The Margot. Alp Kirmizioglu is overseeing the new division. RangeWater expects to begin construction in July for both communities, with first units slated to deliver in October 2023.
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WOBURN, MASS. — Locally based firm Cabot, Cabot & Forbes has filed plans with the Planning Board of the City of Woburn, a northern suburb of Boston, to develop a 300,000-square-foot life sciences campus. Plans call for a 175,000-square-foot lab and office building and a 135,000-square-foot manufacturing facility. Cushman & Wakefield has been tapped to lease the project. The developer expects to receive the necessary permits and approvals by the end of the summer.
BOSTON — Atlantic Capital Partners, a division of brokerage firm Atlantic Retail, has arranged the $32.8 million sale of The Shops at Riverwood, a 78,484-square-foot retail center in Boston’s Hyde Park neighborhood. Developed in phases by Finard Properties, the center was fully leased at the time of sale to tenants such as Burger King, Starbucks, Boston Medical and Planet Fitness. Justin Smith, Chris Peterson, Sam Koonce, Cole Van Gelder and Ben Starr of Atlantic Capital Partners represented the buyer, Urban Edge Properties, and the seller in the transaction.
HAZLETON, PA. — CIT, a division of First Citizens Bank, has provided $17 million in construction financing for two industrial projects in Hazleton, located roughly midway between Scranton and Allentown. The sites are located within the 3,000-acre Humboldt Park and can support Class A developments of 105,000 and 115,000 square feet. The borrower was Saxum Real Estate.
YONKERS, N.Y. — Hapik, an indoor climbing concept, has opened a 10,000-square-foot gym in Yonkers, located north of New York City. The gym will be located in the Ridge Hill lifestyle center and will feature 50 different auto belay fun climbing walls ranging from beginner to advanced levels, two ropes courses and a snack bar. The gym is the fitness company’s third in the United States and its 25th worldwide, with 15 in France and seven in the United Kingdom.
FRANKLIN, IND. — A partnership between Northern Virginia-based Legacy Investing LLC and an affiliate of New York City-based investment manager Axonic Capital LLC has acquired I-65 Indianapolis Logistics Center South. The newly constructed distribution center spans 954,370 square feet and is located in Franklin, a southern suburb of Indianapolis. Andrew Morris and Jeremy Woods of CBRE represented the undisclosed seller and represented the new owners in securing a lease for the property with a third-party logistics company. The sales price was undisclosed.
MILWAUKEE — Senior Living Investment Brokerage (SLIB) has negotiated the sale of eight seniors housing properties in metro Milwaukee for an undisclosed price. The communities feature a total of 449 units. Occupancy averages 84 percent. Jason Punzel, Ryan Saul and Bradley Clousing of SLIB handled the transaction. The seller was a private owner that acquired the communities as value-add deals. The buyer was an experienced assisted living company with an existing portfolio in the Southeast that was looking to expand in the Midwest.
PREMIER Design + Build Group Breaks Ground on 438,750 SF Industrial Build-to-Suit in Elgin, Illinois
ELGIN, ILL. — PREMIER Design + Build Group has broken ground on a 438,750-square-foot industrial build-to-suit in Elgin for Atlantic Packaging, a designer and manufacturer of packaging solutions. The property, situated at 2601 Mason Road, will serve as the firm’s Midwest branch. The facility will feature a clear height of 36 feet, 30 dock positions, three drive-in doors, seven offices, conference rooms and open workspaces. PREMIER will install an exterior asphalt lot to accommodate 300 vehicles and 32 trailers. Completion is slated for February 2023. The project team includes architect Ware Malcomb, civil engineer Manhard Consulting and structural engineer LJB Engineers. Industrial Equity Partners and World Richman are the developers.
WHEATON, ILL. — Quantum Real Estate Advisors Inc. has brokered the sale of a 14,409-square-foot retail property occupied by Walgreens in Wheaton for $11.6 million. The building was constructed in 2010. Walgreens has roughly 13 years remaining on its lease. Daniel Waszak of Quantum represented the buyer, a private 1031 exchange investor based in New York. A Midwest-based REIT was the seller.
LA VISTA, NEB. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $7.2 million loan for the refinancing of an All About Storage property located at 11109 Olive St. in the Omaha suburb of La Vista. Built in 2005, the self-storage facility features 780 units, 83 percent of which are occupied. Phillip Gause of MMCC arranged the 10-year loan, which features a loan-to-value ratio of 60 percent and an interest rate of 4.1 percent. The lender was undisclosed.