LAND O’ LAKES, FLA. — The Ferber Cos. has broken ground on Cypress Ranch, a 164-acre mixed-use development in Land O’ Lakes. At full buildout, the project will include 330 multifamily units, 134 townhomes, 132 single-family homes and retail and office space. Commercial tenants will include EoS Fitness, Aldi, Burger King, Circle K, Honest-1 and Woodie’s Wash Shack. A remaining 6.4-acre tract can be subdivided for retail, office or hotel uses. Cypress Ranch is located near the intersection of State Road 154 and Ballantrae Boulevard, 21 miles north of downtown Tampa. The NRP Group will develop the multifamily component of the project, while Lennar Homes will build the single-family homes. Ferber expects the commercial space to open to tenants by early 2022.
PALM CITY, FLA. — Cushman & Wakefield has arranged the $14 million sale of Safe & Sound Palm City, an 868-unit self-storage facility in Palm City. The property comprises 78,521 square feet of rentable space on 3.1 acres. The facility includes 216 non-climate-controlled units and 652 climate-controlled units, as well as video surveillance, electronic gates and access to a freight elevator. The asset is situated at 3501 SW Martin Downs Blvd., 11 miles south of downtown Port St. Lucie. Mike Mele and Luke Elliott of Cushman & Wakefield represented the seller, Safe & Sound, in the transaction. A joint venture between two private limited liability companies acquired the property and rebranded it under the CubeSmart brand.
VIRGINIA BEACH, VA. — Montecito Medical Real Estate has acquired Virginia Beach Orthopedic Medical Office, a 31,000-square-foot building in Virginia Beach. At the time of sale, the asset was fully leased to anchor tenant Jordan-Young Institute and Patient First. Jordan-Young Institute, which specializes in orthopedic surgeries, joint replacements and rehabilitations, occupies 85 percent of the building. Patient First operates urgent care and walk-in clinics around Virginia Beach. The property is situated at 5716 Cleveland St., 12 miles west of downtown Virginia Beach and seven miles east of downtown Norfolk. Further details of the transaction were not disclosed.
COLUMBIA, S.C. — DD’s Discounts will open a 22,000-square-foot store within Fashion Place Shopping Center in Columbia Friday, Oct. 24. The property will be located at 2720 Decker Blvd., 10 miles northeast of downtown Columbia and the University of South Carolina. This will be dd’s Discounts third location in South Carolina and 270th overall in 20 states. Jake Dugan of JBL Asset Management represented the undisclosed landlord in the lease negotiations.
HOUSTON — Patrinely Group, in a joint venture with USAA Real Estate and CDC Houston, has topped out the new 440,000-square-foot office building for Hewlett Packard Enterprise (HPE) in North Houston. The building, construction of which began earlier this year, is located within the 2,000-acre Springwoods Village development and is expected to be complete in spring 2022. Amenities include a fitness center, café, kitchen, pharmacy, laboratory and office space, and a large central courtyard with a multi-use basketball pavilion, fitness/yoga lawn, water features, outdoor tables and open green space.
MANSFIELD, TEXAS — A partnership between locally based firm Realty Capital Management and South Florida-based PointOne Holdings has broken ground on Phase II of Main Street Lofts, a project in the Fort Worth suburb of Mansfield that will add 266 apartments to the local supply. Phase II will deliver amenities such as a pool, fitness center, multiple lounges, resident clubhouse and access to walking and biking trails. JHP Architecture is designing the project, and NRP Construction is the general contractor. First United Bank provided construction financing. Completion is scheduled for the first quarter of 2022.
PLANO, TEXAS — Locally based developer Billingsley Co. has completed a 187,100-square-foot project that is the first office building within International Business Park in Plano. The project also included the construction of a 9,000-square-foot amenity center on the campus that houses a fitness center, conference center and grab-and-go food service. Adolfson & Peterson served as the general contractor for the four-story office building, which is situated on 9.2 acres and includes a coffee bar with TVs and complimentary Wi-Fi. GFF Architects designed the building, and JLL is handling leasing.
KATY, TEXAS — LJA Engineering Inc. has signed a 38,357-square-foot office lease extension at 1904 W. Grand Parkway N. in the western Houston suburb of Katy. The employee-owned civil engineering firm is taking an additional 4,893 square feet to accommodate its growth. Anthony Squillante and Dustin Devine of Avison Young represented the tenant in the lease negotiations. Parker Burkett and Eric Anderson of Transwestern represented the landlord, a joint venture between Insite Realty Partners LP and The Urban Companies.
HOUSTON — NAI Partners has negotiated an 8,600-square-foot industrial lease at 4500 N. Sam Houston Parkway W. in northwest Houston. According to LoopNet Inc., the property was built in 2008 and spans, 44,500 square feet. Jorge Martinez and Clare Flesher of NAI Partners represented the tenant, Healthline Medical Equipment, in the lease negotiations. The name and representative of the landlord were not disclosed.
PATERSON, N.J. — KeyBank’s Community Development Lending and Investment (CDLI) team has provided $5 million in acquisition financing for Rosa Parks Apartments, a 50-unit affordable housing property for seniors in Paterson. The borrower was Radiant Property Management LLC, a Newark-based real estate services company that will also manage the property following the acquisition. Eric Steinberg of KeyBank’s CDLI team structured the financing.