DALLAS — DXP Enterprises, a distributor of repair and maintenance products for several industries, has signed a 104,902-square-foot industrial lease renewal at Building A of Pinnacle Industrial Center in Dallas. Jason Moser of Stream Realty Partners represented the tenant in the lease negotiations. NAI Robert Lynn represented the landlord, Pinnacle A LLC.
TALLAHASSEE, FLA. — A joint venture between The Preiss Co. and a private equity fund advised by Crow Holdings Capital has acquired Quantum on West Call, a 752-bed student housing community located near Florida State University in Tallahassee. The property offers one-, two-, three- and four-bedroom, fully furnished units with bed-to-bath parity. Communal amenities include a 24-hour fitness center, pool, yoga center, clubhouse, theater, cyber lounge, individual study nooks, group study spaces and a sundeck with hammocks and grilling stations. The new ownership plans to begin renovations on half of the 225 units to upgrade vinyl plank flooring in the common areas and improve internet connectivity. Terms of the transaction and the seller were not disclosed.
RINCON, GA. — Chesterfield and development partner Stonemont Financial have signed Pacific Cycle Inc. to a 1.1 million-square-foot industrial lease within Georgia International Trade Center in Rincon. Pacific Cycle is the parent company of bicycle brands including Schwinn, Mongoose and Kid Trax. The tenant fully occupies Building 2B of the property, which is situated at 2004 Trade Center Parkway, 16 miles from the Port of Savannah. Chesterfield and Stonemont recently delivered Phase I of Georgia International Trade Center, which comprises four buildings totaling 2.4 million square feet. Building 2B is the largest facility in Phase I. The developers are underway on Phase II, which will comprise three buildings spanning nearly 2 million square feet.
DUNWOODY, GA. — Atlantic | Pacific Cos. (A|P) has purchased The Parc at Dunwoody Apartments, a 312-unit complex in Dunwoody. The property offers one-, two- and three-bedroom floor plans ranging from 718 to 1,346 square feet. Communal amenities include a pavilion, fitness center, playground and two pools. The asset is situated at 1067 Pitts Road, 17 miles north of downtown Atlanta. The Miami-based buyer purchased the community via its equity fund, Blue Atlantic Partners Fund III. A|P affiliate Atlantic | Pacific Management will manage the property and handle the leasing efforts. A|P plans to implement a multimillion-dollar renovation to upgrade unit interiors with quartz countertops, enhance amenity spaces and improve the exterior of the community. The sales price and seller were not disclosed.
HAGERSTOWN, MD. — Neuman Commercial Group LLC has arranged the $13.2 million sale of Hagerstown Shopping Center, a 124,000-square-foot shopping center in Hagerstown. The property was fully leased at the time of sale to 16 tenants including Aldi, Family Dollar, Mr. Tire, AutoZone, McCormick Paints, Super Shoe and Papa John’s. Hagerstown Shopping Center is situated at 503 Dual Highway, less than one mile from downtown Hagerstown and eight miles south of the Maryland-Pennsylvania state border. Gil Neuman of Neuman Commercial Group represented the seller, Bon Aviv Investments, in the sale. Neuman also procured the buyer, an undisclosed private family management office.
NEWVILLE, PA. — Metro Philadelphia-based investment and development firm Exeter Property Group has purchased a 1.2 million-square-foot warehouse and distribution center located at 3419 Ritner Highway in Newville, located west of Harrisburg, for $85 million. The property is situated on 85.3 acres just off Interstate 81 and features a 60-foot loading bay, a 200-foot truck court, 249 automobile parking spaces and 243 trailer parking spaces. Gerry Blinebury, Gary Gabriel and Adam Campbell of Cushman & Wakefield represented the seller, Artemis Real Estate Property, in the transaction. The asset was constructed on a speculative basis and is currently vacant.
NEW YORK CITY — A partnership between Strategic Capital, Cape Advisors and Forum Absolute Capital Partners has opened Greenwich West, a 170-unit multifamily condominium project located at 110 Charlton St. in the West Soho neighborhood of Manhattan. Designed by Parisian architecture firm Loca Anima and interior designer Sebastien Segers, Greenwich West features studio, one-, two- and three-bedroom floor plans, with prices ranging from $1.1 million to $7.9 million. Amenities include a 24-hour attended lobby, a rooftop terrace with multiple outdoor seating areas, a fitness center with a yoga studio and a children’s play area. Plaza Construction served as the general contractor for the 30-story building.
BOSTON — MassHousing has provided $67.4 million in acquisition financing for Blue Mountain Apartments, a 217-unit historic affordable housing property located in the Roxbury neighborhood of Boston. The borrower, NHP Foundation, will use a portion of the proceeds to rehabilitate the property and preserve its affordability through 2045. Blue Mountain Apartments consists of 105 one-bedroom apartments, 73 two-bedroom apartments, 18 three-bedroom apartments, 16 four-bedroom apartments and five five-bedroom apartments. Among the improvements planned for the property are concrete and masonry repairs, roof repairs, fire system upgrades, exterior door and window replacements, kitchen and bathroom upgrades and upgrades to the buildings’ HVAC, plumbing and electrical systems.
NEW YORK CITY — Locally based firm Rosewood Realty Group has brokered the $11.5 million sale of an 80-unit apartment building located at 2055 Anthony Ave. in the Fordham Heights area of The Bronx. The property was built in 1920 and spans 74,580 square feet. Aaron Jungreis of Rosewood Realty represented the seller, Morgan Group, and the buyer, locally based investment firm Parkash Group, in the transaction.
CHICAGO — JLL has arranged more than $100 million in financing for a 278-unit multifamily community in Chicago’s West Loop neighborhood. The developer broke ground on the community in late September and expects to deliver it in spring 2022. JLL worked on behalf of developer Marquette Cos. to secure a $65 million construction loan through Bank OZK. Further details of the financing were not disclosed. Power Construction is the general contractor and Chicago-based Brininstool + Lynch is the architect. The 25-story property, located at 1400 Randolph St., will feature coworking spaces, a fitness center, club room and a pool on the 18th floor. Amenities in the surrounding neighborhood include the 13-acre Union Park; the L Train Ashland Station; and “Restaurant Row,” which features restaurants such as Au Cheval, Bad Hunter, Bandit, Girl & the Goat, Haymarket Tavern, La Josie, Lena Brava and Rooh. Matthew Schoenfeldt of JLL represented the Naperville-based developer in securing the construction financing. “Marquette, their institutional partner and Bank OZK have been steadfast in their commitment to 1400 Randolph, which is a testament to the fundamentally compelling concept,” says Schoenfeldt. According to research from CBRE, there were 2,500 multifamily units delivered in the Chicago area in the …