DALLAS — Weitzman has arranged the sale of a 6.5-acre multifamily development site in southwest Dallas. The site is located at the corner of Illinois Avenue and Knoxville Street, across from the Dallas College Mountain View campus. Scott Smith and Corbin Tanenbaum of Weitzman represented the seller and occupant, the Templo De Alabanza Church, in the transaction. The buyer, Generation Housing Partners LLC, in partnership with the City of Dallas, will develop a mixed-income project on the site that will be known as HiLine Illinois.
HOUSTON — Partners Real Estate has brokered the sale of a 64,881-square-foot industrial building that was constructed on a speculative basis in South Houston. According to LoopNet Inc., the building at 510 S. Sam Houston Parkway E sits on a 4.7-acre site and was completed last year. Travis Land and A.J. Williams of Partners represented the seller in the transaction. Chase Spence and Jeff Peltier of Colliers represented the buyer. Both parties requested anonymity.
ALLEN, TEXAS — KONE Inc. has signed a 30,973-square-foot office lease renewal in Allen, a northeastern suburb of Dallas. The elevator and escalator provider will continue to occupy space on the third floor of Allen Place I, a 102,471-square-foot building that was completed in 2015, for another 10 years. Richmond Collinsworth and Jared Laake of Bradford Commercial Real Estate Services represented the landlord in the lease negotiations. Melissa Holland and Gregg Raus of JLL represented the tenant.
WILTON, N.Y. — Regional brokerage firm Adirondack Capital Partners has negotiated the $30.7 million sale of McGregor Village Apartments, a 212-unit multifamily complex in Wilton, about 40 miles north of Albany. McGregor Village offers one- and two-bedroom units and amenities such as a fitness center, clubhouse and a playground. Michael Hunter Coghill and Chad Sinsheimer of Adirondack Capital Partners represented the buyer, New York-based investment firm Elar Group, in the transaction. The seller, Bruce Tanski Construction, was self-represented.
BRIDGEVILLE, PA. — Marcus & Millichap has brokered the $10.6 million sale of The Crossings at South Fayette, a 38,203-square-foot shopping center in Bridgeville, a southwestern suburb of Pittsburgh. The center comprises a freestanding grocery store of anchor tenant ALDI, a drive-thru strip occupied by Starbucks and Chipotle Mexican Grill and a multi-tenant strip that is home to Sola Salon Studios, Jimmy John’s, Elevation Medical Weight Loss, Brentwood Bank and Radiance at Fluhme. Dean Zang and David Crotts of Marcus & Millichap represented the seller, a local family, in the transaction. Zang and Crotts also procured the buyer, San Diego-based investment firm The Niki Group.
BOSTON AND NEW YORK CITY — A joint venture between Bain Capital and 11North Partners has acquired a portfolio of 10 open-air retail centers in Florida and South Carolina for $395 million. Danny Finkle, Jorge Portela and Kim Flores of JLL represented the seller, PGIM Real Estate. The properties — which are located across the submarkets of Fort Lauderdale, Orlando, Tampa, Palm Beach and Charleston — include Sawgrass Square, Plantation Promenade, Miramar Commons, Rolling Oaks, Promenade at Poinciana, Solivita Marketplace, New Tampa Center, Lake Worth Plaza, Garden Shops at Boca and Point Hope Commons. The acquisition spans more than 1 million square feet and follows the joint venture’s recent purchase of three open-air lifestyle retail centers in Oklahoma City for $212 million. Publix anchors seven of the retail centers. The portfolio was more than 93 percent leased at the time of sale to tenants including Bank of America, Chipotle, Starbucks Coffee, Chick-fil-A, Jersey Mike’s and McDonald’s.
NASHVILLE, TENN. — Walker & Dunlop has arranged a $105 million loan for the refinancing of 805 Lea, a 356-unit apartment tower in downtown Nashville. Built in 2021, the property features 10,203 square feet of ground-floor retail space across three suites. Amenities include a 24-hour concierge services, 29th floor sky lounge, saltwater swimming pool, fitness center and two outdoor fire pits. Stephen Farnsworth led the Walker & Dunlop team that arranged the three-year loan through Nuveen on behalf of the borrower, Key Real Estate Co. The loan features two optional 12-month extensions.
FAIRFIELD, N.J. — Regional investment firm Ridgecut Road has purchased a 5.8-acre industrial outdoor storage (IOS) facility in the Northern New Jersey community of Fairfield. The property address was not disclosed. The facility features a 35,000-square-foot warehouse and maintenance facility with 26- to 30-foot clear heights and three oversized drive-in doors, as well as a two-story, 10,000-square-foot office building. Nicholas Stefans and Jason Lundy of JLL brokered the sale of the property. Michael Klein, Max Custer and Kevin Badger, also with JLL, arranged an undisclosed amount of acquisition financing for the deal.
GREER, S.C. — Developer Advenir Oakley Capital and general contractor Capstone Building Corp. have completed construction of LEO Jamestown, a $78 million build-to-rent (BTR) development in Greer, a city 12 miles northeast of Greenville. Located at 1015 S. Main St., LEO Jamestown includes 296 one-, two- or three-bedroom homes. Monthly rental rates range from $1,399 to $2,099, according to Apartments.com. Amenities include a resort-style pool, pool house, clubhouse, a fitness center and outdoor green spaces. Advenir Azora is managing the property.
NEW YORK CITY — The Boys’ Club of New York has signed a 25-year, 33,000-square-foot lease in The Bronx. The nonprofit organization will occupy the entire building at 565 Morris Ave., which previously housed an early education center for Sheltering Arms. The space will be retrofitted to feature classrooms for music, arts and media, as well as audio engineering and computer labs and spaces that support athletics and gaming. The new clubhouse will also include a cooking and a hydroponics area. Stephen Powers, Lindsay Ornstein, Alexander Smith, and Chloe Holder of OPEN Impact Real Estate represented The Boys’ Club in the negotiations for the 25-year lease. Jordan Kaplan, Dean Rosenzweig, Jeremy Scholder and Jojo Lewis of CBRE represented the landlord, Bronx Realty Group.