EL PASO, TEXAS — CBRE has negotiated the sale of the Hanson portfolio, a collection of three industrial buildings totaling 213,370 square feet in El Paso. The sale included 35 acres of developable land. Arturo De la Mora of CBRE represented the seller, private investor Russell Hanson, in the transaction. The buyer was a partnership between Massachusetts-based Equity Industrial Partners and New York City-based Raith Capital Partners.
ARLINGTON, TEXAS — NorthMarq has arranged the sale of Jordan Creek Apartments, a 240-unit multifamily community in Arlington. Built in 1984, the property offers one- and two-bedroom units and amenities such as a pool, sports court, fitness center and outdoor grilling and picnic area. Taylor Snoddy, James Roberts and Philip Wiegand of NorthMarq represented the seller, 2505 Burney Oaks Lane LLC, in the transaction. The team also procured the buyer, multifamily investment firm Ashland Greene Capital Partners.
MESQUITE, TEXAS — Sprouts Farmers Market will open a 28,000-square-foot grocery store at 1220 N. Town East Blvd. in Mesquite, an eastern suburb of Dallas, on March 4. Phoenix-based Sprouts is known for its fresh produce, expansive bulk foods section and an extensive vitamin department. The company currently operates more than 300 stores across 20 states.
ATLANTA — Consolidated-Tomoka Land Co. has purchased Perimeter Place, a 269,000-square-foot retail center in Atlanta’s Central Perimeter submarket, for $75.4 million. The property was 80 percent leased at the time of sale to 42 tenants including Ross Dress for Less, Michaels, Fleming’s Prime Steakhouse & Wine Bar, Chipotle, Panera, Outback Steakhouse and Carrabba’s. SuperTarget shadow anchors Perimeter Place, which is located on a 24-acre site less than a mile from Perimeter Mall and 16 miles north of downtown Atlanta. CBRE will manage the property and JLL will lead leasing efforts on behalf of the buyer. Consolidated-Tomoka will finance the acquisition with its line of credit and $65 million in remaining funds from a 1031 tax exchange in November. The seller was not disclosed.
WASHINGTON, D.C. — A joint venture between Lincoln Property Co. and Cadillac Fairview has acquired 1313 L Street, an 84,040-square-foot office building in downtown Washington, D.C., for $34.7 million. The property is situated less than a mile from The White House. The building was formerly the headquarters of the seller, the National Association for the Education of Young Children (NAEYC). The asset was originally built in 1984 and has served at NAEYC’s headquarters since 2006. Dek Potts, Susan Carras, Walter Coker and Brian Crivella of JLL represented the seller in the transaction. West, Lane & Schlager (WLS) is advising NAEYC on its relocation to a new headquarters. The buyers plan to redevelop the building into apartments, but provided few details.
RIVERDALE, GA. — Berkadia has negotiated the $38 million sale of Legacy Riverdale, a 615-unit, garden-style apartment complex in Riverdale. The property offers one-, two- and three-bedroom floor plans averaging 934 square feet. Community amenities include laundry facilities, a playground, a pool and barbecue areas. The asset was renovated in 2019 and is located at 6630 Church St., 13 miles south of downtown Atlanta. Paul Vetter, Andrew Mays, Judy MacManus and Matthew White of Berkadia represented the seller, Atlanta-based DRI Legacy LLC. California-based Northport Realty LLC was the buyer.
MIAMI — JLL has arranged a $34 million construction loan for First-Little Havana, a planned 194-unit multifamily property in Miami. Premium Development Inc. is building the asset, which is situated at Seventh Avenue and SW First Street, one mile west of downtown Miami. First-Little Havana will feature 7,000 square feet of ground-floor retail, 231 garage parking spaces, a pool, fitness center, yoga studio and dog park. The developer plans to open the community in 2021. Brian Gaswirth and Michael DiCosimo of JLL arranged the financing through Man Global Private Markets.
HIALEAH, FLA. — Cargill has signed a 70,000-square-foot industrial lease within Building E in Beacon Logistics Park in Hialeah. The industrial park will span 1.3 million square feet upon completion. A joint venture between Codina Partners and USAA Real Estate is developing the 146,021-square-foot Building E, which features a non-shared truck court and a building depth of 160 feet with a 60-foot speed bay. The Minnesota-based meat and grain supplier is the first tenant to sign a lease within the property, which is situated at NW 145th Place and NW 107th Avenue, 23 miles northwest of downtown Miami. RLC Architects designed the industrial park, and Rycon Construction Inc. is the general contractor for Building E.
BOSTON — Locally based firm National Development has unveiled plans for a mixed-use project at 333 Dorchester Ave. in South Boston, pending approval from the City of Boston. The project will include 256 apartment units, 47,000 square feet of office space, 14,500 square feet of retail space and public green space. The project is part of a larger Dorchester Avenue redevelopment initiative spearheaded by National Development, which includes transformation of industrial buildings including 333 Dorchester Ave. into primarily residential and commercial properties.
NEW YORK CITY — A partnership between Stonehenge NYC, A-Rod Corp. and Modlin Group has acquired a 114-unit multifamily building in the Midtown East neighborhood of Manhattan, for $66.2 million. The London Family constructed the 14-story building, which is located at 340 East 51st St., in 1965. Formerly known as Allen House, the building has been rebranded as Stonehenge 51. David Krantz and Paul Leibowitz of Savills represented the partnership in the transaction. Former Major League Baseball player Alex Rodriguez founded A-Rod Corp.