KINGWOOD, TEXAS — High Street Residential has broken ground on Residences at Kingwood, a 289-unit multifamily project that will be located on the northern outskirts of Houston. High Street Residential is developing the project, which will consist of 240 apartments and 49 townhomes, in partnership with Japanese homebuilder Daiwa House Group. Residences will come in one-, two- and three-bedroom formats and will be furnished with stainless steel appliances, custom cabinetry and individual washers and dryers. Select units will also feature private balconies/patios and garages. Amenities will include a pool, grilling areas, fitness center with a yoga/Pilates studio, an outdoor workout area, resident lounge with an art gallery and an entertaining kitchen and a conferencing and remote-work suite. Residents will also have access to a putting green, bocce ball courts, pickleball court, multiple outdoor dining areas and the Kingwood Greenbelt trail system. W Partnership is the development’s architect, and Robinson & Co. will lead the landscape design. Cadence McShane is the general contractor. Completion is slated for late 2023.
Property Type
HOUSTON — Lee & Associates has arranged the sale of an 80,000-square-foot retail property in West Houston that houses a car dealership. The 7.7-acre site at 6737 Southwest Freeway was originally built in 1965, according to LoopNet Inc. Nathan Denton, Justin Tunnel and Chase Cribbs of Lee & Associates represented the buyer, HGreg Investment of California, in the transaction. The seller and sales price were not disclosed, although LoopNet identified a listing price of roughly $19 million.
MANKATO, MINN. — Northmarq has arranged a $41.6 million loan for the refinancing of The Grove at Mankato in Mankato, a city in southern Minnesota. The 524-unit student housing property is located at 200 Briargate Road. Andy Finn of Northmarq arranged the nonrecourse loan, which features a seven-year term, 30-year amortization schedule and three years of interest-only payments. A credit union provided the fixed-rate loan. The borrower was undisclosed.
MANKATO, MINN. — Northmarq has arranged a $41.6 million loan for the refinancing of The Grove at Mankato in Mankato, a city in southern Minnesota. The 524-unit student housing property is located at 200 Briargate Road. Andy Finn of Northmarq arranged the nonrecourse loan, which features a seven-year term, 30-year amortization schedule and three years of interest-only payments. A credit union provided the fixed-rate loan. The borrower was undisclosed.
CHICAGO — J.C. Anderson has completed the interior buildout of Color Factory, an interactive art museum. The venue is now open to the public and is situated within Chicago’s Willis Tower. The 24,000-square-foot space represents Color Factory’s largest venue and flagship location. Color Factory also operates locations in Houston and New York City. The Willis Tower location showcases interactive installations and curated exhibits inspired by the city of Chicago. J.C. Anderson built 10 galleries that incorporate 117 different paint colors. The project team included Shorecrest Project Management, Partners by Design and ESD.
CHICAGO — J.C. Anderson has completed the interior buildout of Color Factory, an immersive art museum. The venue is now open to the public and is situated within Chicago’s Willis Tower. The 24,000-square-foot space represents Color Factory’s largest venue and flagship location. Color Factory also operates locations in Houston and New York City. The Willis Tower location showcases interactive installations and curated exhibits inspired by the city of Chicago. J.C. Anderson built 10 galleries that incorporate 117 different paint colors. The project team included Shorecrest Project Management, Partners by Design and ESD.
CHICAGO — Summit Design + Build has broken ground on a 42,000-square-foot addition to the Eli’s Cheesecake facility in Chicago. The industrial building currently spans 62,000 square feet. The addition marks the first expansion to the property since it was built in 1995. The expansion will include interior spaces for general bakery use, storage, bakery processing and a new mezzanine. Michael Aragona is the project architect.
CHICAGO — Summit Design + Build has broken ground on a 42,000-square-foot addition to the Eli’s Cheesecake facility in Chicago. The industrial building currently spans 62,000 square feet. The addition marks the first expansion to the property since it was built in 1995. The expansion will include interior spaces for general bakery use, storage, bakery processing and a new mezzanine level. Michael Aragona is the project architect.
CINCINNATI — Quantum Real Estate Advisors Inc. has brokered the sale of a 14,490-square-foot retail property in Cincinnati for $5.2 million. The property was originally leased to Walgreens, which closed four years ago. Walgreens sub-let the building to Dollar General, which maintains about seven years on its lease. Daniel Waszak of Quantum represented the seller, a New York City-based private investor. A Texas-based real estate investment fund was the buyer.
CINCINNATI — Quantum Real Estate Advisors Inc. has brokered the sale of a 14,490-square-foot retail property in Cincinnati for $5.2 million. The property was originally leased to Walgreens, which closed four years ago. Walgreens sub-let the building to Dollar General, which maintains about seven years on its lease. Daniel Waszak of Quantum represented the seller, a New York City-based private investor. A Texas-based real estate investment fund was the buyer.