MONTICELLO, MINN. — Upland Real Estate Group has brokered the $20 million sale of a 188,000-square-foot retail property occupied by Fleet Farm in Monticello, about 40 miles northwest of Minneapolis. The single-tenant, net-leased building is situated near I-94. Fleet Farm has 19 years remaining on its lease. The retailer operates 45 stores in five states and sells a variety of sports and outdoor equipment, appliances, automotive goods, apparel, hardware, tools and farm supplies. Keith Sturm, Deborah Vannelli, Amanda Leathers and Ed Engler of Upland brokered the sale. Buyer and seller information was not disclosed.
FISHERS, IND. — Mortgage banking company Merchants Capital has provided $11 million for the construction of SouthPointe Village, a 62-unit affordable housing community in Fishers, a suburb of Indianapolis. Located at 11144 Lantern Road, the project will be available for renters who earn 50 to 80 percent of the area median income. In addition to the 30-month loan, there are $1.2 million in low-income housing tax credits, enabling the development to be constructed with rents lower than market value. Rents at SouthPointe Village will range from $650 to $950 per month for a one-bedroom unit and $760 to $1,100 per month for two-bedroom units. Additionally, 25 percent of units will be set aside for the developmentally disabled, with the help of local organizations such as Janus Development Services, Outside the Box, Opportunities for Positive Growth and Insights Consulting. Merchants provided the construction loan on behalf of RealAmerica Cos.
BRUNSWICK AND NILES, OHIO — United Church Homes, an Ohio-based nonprofit provider of senior living residential and healthcare services, has acquired two active adult communities in Northeast Ohio for an undisclosed price. Harbor Woods Living at Brunswick and Harbor Woods Living at Niles were each built in 2016. The four-story, rental properties consist of 127 units each and cater to active adults over age 55. Amenities include a fitness center, salon, library, game room and gathering spaces. Harbor Woods Living was the seller. United Church Homes says the acquisition is aligned with its strategy of expanding its portfolio of market-priced housing for middle-income, older adults.
COLUMBUS, OHIO — Herman & Kittle Properties Inc. has opened Whispering Creek, a $5 million apartment community in Columbus. The property is located at 2960 Gooden Way and features 188 units. Floor plans range from one-bedroom to four-bedroom units. Amenities include a business center, dog park, fitness center, laundry facility, play area and barbecue grills. The development is situated near Hoover Park and the Scioto Country Club on the Scioto River. Monthly rents start at $811.
PFLUGERVILLE, TEXAS — Cowboys Fit, a concept that brings the fitness equipment and programs of the Dallas Cowboys to regular users, has opened a 57,000-square-foot facility in the northern Austin suburb of Pflugerville. The space is located at 1401 Town Center Drive and features a basketball court, indoor pool, outdoor training area and a childcare area. Members also have access to boutique-style fitness classes like yoga, spin, barre and circuit training.
AUSTIN, TEXAS — Austin-based Greenstar Development has completed 49 Street Office Park, a 32,900-square-foot adaptive reuse project in the Rosedale neighborhood of Austin. Designed by Mark Odom Studio, the two-story building features three office spaces connected by outdoor work areas. Franklin-Alan served as the general contractor for the project. Architecture firms Britt Design Group and Thirteen23 have committed as tenants to the building.
HAUPPAUGE, N.Y. — CBRE has negotiated the sale of Devonshire Hills, a 656-unit apartment community located in the Long Island city of Hauppauge. The community was developed as two separate properties in phases between 1966 and 1969 and combined in 2001. Units feature studio, one-, two- and three-bedroom floor plans, and amenities include two pools, tennis courts and two playgrounds. David Gavin and Eric Apfel of CBRE represented the seller, Bainbridge Cos., in the transaction. The duo also procured the buyer, Renaissance Management, a family office based in metro New York.
MANSFIELD, MASS. — Newmark has arranged the $25 million sale of a 74,383-square-foot shopping center located at 377 Chauncy St. in Mansfield, a southern suburb of Boston. Grocer Stop & Shop anchors the property, which is situated on nine acres along Route 140. Robert Griffin, Geoffrey Millerd, Paul Penman and Mat Adler of Newmark represented the undisclosed seller and procured the buyer, Bailard Real Estate Fund, in the transaction.
LEBANON, PA. — Walker & Dunlop has provided $20.4 million in Fannie Mae permanent financing for Fox Ridge Apartments, a 170-unit multifamily community in Lebanon, located in between Harrisburg and Reading. The property features one- and two-bedroom units and amenities such as a clubhouse, fitness center and common outdoor green space. John Banas, Kris Wood. John Wilson, Rhett Saltiel, and Erik DiGirolamo of Walker & Dunlop provided the 10-year, fixed-rate loan to the borrower, multifamily owner-operator Boyd/Wilson.
NEW YORK CITY — Falcon Pacific Builders has completed renovations of the lobby at 83 Maiden Lane, a 180,000-square-foot office building in Manhattan. The project added a new reception desk, turnstiles and building card access system, as well as LED lighting and a new digital camera system throughout. Nonprofit organization AHRC New York City owns the building, where it houses its headquarters. Helmsley Spear leases and manages the property. Architecture firm EVN designed the project.