MESA, ARIZ. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 160-bed skilled nursing facility in Mesa. The property was recently renovated and expanded, and is located near multiple medical centers that refer residents to the facility. A buyer with an existing footprint in the market acquired the asset for an undisclosed price. The transaction is part of a series of sales that Blueprint arranged for LTC properties, which is divesting its entire portfolio of Preferred Care facilities. Blueprint estimates the combined sales will total $78 million.
TAMPA, FLA. — Skanska USA has delivered University of South Florida (USF) Morsani College of Medicine and Heart Institute, a 13-story, 395,000-square-foot building that will bring 1,800 students, staff and faculty to Water Street Tampa. The building features a 400-seat auditorium, clinical teaching labs and research laboratories, office space and a wellness center. Skanska USA and design firm HOK began construction in August 2017. Additionally, the Morsani College of Medicine is situated a mile from Tampa General Hospital, USF’s primary teaching hospital. Water Street Tampa is a $3 billion mixed-use development in downtown that will offer more than 2 million square feet of office space; 1 million square feet of retail, cultural, educational and entertainment space; and two new hotels totaling more than 650 rooms, including the city’s first five-star hotel. Tampa Bay Lightning owner Jeffrey Vinik created Strategic Property Partners LLC to spearhead the project, along with Cascade Investment LLC. The project’s first residential building, 815 Water Street Tampa, is expected to open in late 2020.
MOUNT PLEASANT, S.C. — Frampton Construction has begun demolition and broken ground on The Shelmore, a planned 50,000-square-foot office redevelopment in Mount Pleasant. The site is the former home of a Bi-Lo grocery store. The redevelopment will include adding a lobby with a two-story “jewel box” entry and installing 30 new windows and 10 skylights. The redeveloped property will feature 18-foot ceilings and the potential for a variety of floor plans suitable for both small and large office users. The existing retail surrounding the building will also receive exterior upgrades to match the new façade. The property is located at 774 S. Shelmore Blvd., six miles north of downtown Charleston. The developers are Collett Capital, Lions Gate Capital LLC and WECCO Development. LS3P Associates is the architect. Completion is slated for this fall.
BUTNER, N.C. — CBRE|Raleigh has negotiated the 93,685-square-foot industrial lease for Nugget, a manufacturer specializing in creating furniture that can be transformed into entertainment for children. The property, Falls Lake II, is situated at 200 Business Park Drive, 14 miles north of downtown Durham and less than one mile from Interstate 85. Austin Nagy of CBRE|Raleigh represented the tenant in the transaction. Foundry Commercial represented the landlord, NWI Butner LP.
HUNTINGTON VALLEY, PA. — Greystone has provided a $76 million Fannie Mae loan for the refinancing of Meadowbrook Apartments, a 531-unit multifamily property in Huntingdon Valley, a northern suburb of Philadelphia. Located at 1700 Huntingdon Pike, the property was constructed in 1968 and features studio, one-, two- and three-bedroom units.. The borrower was Lindy Properties. Dan Sacks of Greystone originated the loan, which carries a 10-year term with interest-only payments.
LYNN, MASS. — Dolben Co. Inc., a Massachusetts-based developer, is underway on Breakwater, a 331-unit apartment complex that will be located in the northern Boston suburb of Lynn. Dolben is constructing the 481,201-square-foot project on a site located at 254 Lynnway. The property overlooks Lynn Harbor and was previously vacant for 35 years. The community will feature studio, one-, two- and three-bedroom floor plans, ranging from approximately 560 square feet to 1,300 square feet. Amenities will include a fitness center, game room and an outdoor lounge and harbor walk. HDS Architecture designed the project, and Callahan Construction Managers is the general contractor. Construction is slated for completion in March 2022.
WEST NEW YORK, N.J. — Marcus & Millichap has arranged the $14 million sale of Jaclyn 40, a 40-unit multifamily building in West New York, New Jersey. Located at 5817 Jefferson Ave., the 36,000-square-foot property offers convenient access to Manhattan, Newark Airport and multiple rail stations. Fahri Ozturk, Richard Gatto and Joseph Belgiovine of Marcus & Millichap represented the seller, a private owner, in the transaction. The team also procured the buyer, another private investor. Both parties requested anonymity.
BETHLEHEM, PA. — Colliers International has brokered the $4.5 million sale of Bethlehem Village Shoppes, a 31,450-square-foot retail center in Bethlehem, an eastern suburb of Allentown. At the time of sale, tenants included the Northampton County Court of Common Pleas, H&R Block and several restaurants. Jeff Algatt, Derek Zerfass and Scott Horner represented the seller, a locally based private investor, in the transaction. W.C. Weiss of Equis Commercial Real Estate represented the undisclosed buyer. QNB Bank provided acquisition financing.
DALLAS — Over the next eight weeks, Amazon plans to hire approximately 1,500 people in preparation for opening its 2.3 million-square-foot fulfillment center at 1301 Chalk Hill Road, located approximately seven miles west of downtown Dallas. The facility is expected to be fully operational by May 31. Last fall, The Dallas Morning News reported that Amazon had signed a 20-year lease at the 101-acre facility, which had recently been acquired by Toronto-based Granite REIT. The property features 41-foot clear heights, 2,500 auto parking spaces and 300 trailer parking spaces. As the largest e-commerce firm in the world, Amazon is investing more than $800 million in the establishment of safety measures like temperature checks, enhanced cleanings, sanitation stations and onsite testing for COVID-19.
IRVING, TEXAS — JLL has arranged an undisclosed amount of construction financing for DFW Park 161, an industrial project near DFW International Airport in Irving that will eventually total more than 2.4 million square feet. The development team, a partnership between Invesco Real Estate and Perot Development Co., broke ground in late February on Phase I of the 196-acre project, which will feature about 1 million square feet of speculative space. DFW Park 161 will ultimately consist of four Class A buildings with cross-dock configurations, 32- to 40-foot clear heights and a total of 383 trailer parking spaces. Stephen Bailey, Dustin Volz and John Rose of JLL arranged the five-year construction loan on behalf of the development team.