DALLAS — Keller Williams Realty — North Dallas has signed a 24,971-square-foot office lease at 18333 Preston Road for its new headquarters in the metroplex. Renee Efimoff of SCM Real Estate Services represented Keller Williams in the lease negotiations. Trevor Franke and Andrew Scudder of JLL represented the landlord, Preston North Partners LLC. The move-in is scheduled for late July.
HOUSTON — Archway Properties has broken ground on a 22,016-square-foot build-to-suit retail project in Houston for Northern Tool + Equipment. The building will be situated on a freeway-fronting pad site within the 111-acre Park Air 59 mixed-use development on the city’s northeastern side. The store will be the Minnesota-based retailer’s eighth in Houston and is expected to open in the first quarter of 2021.
DULUTH, GA. — Cushman & Wakefield has arranged the $52 million sale of The Hills on Breckinridge, a 400-unit multifamily community in Duluth. The property was built in 1986 and offers one- and two-bedroom floor plans. The seller, Wilkinson Corp., has implemented recent renovations, including a new clubhouse, pool, sports court, dog park and playground, as well as interior upgrades. The property is situated at 3450 Breckinridge Blvd., 24 miles northeast of downtown Atlanta. Nathan Swenson and Travis Presnell of Cushman & Wakefield represented the seller in the transaction. The buyer was not disclosed.
COLONIAL HEIGHTS, VA. — Extended Stay America Inc. has opened Extended Stay America-Colonial Heights, a 92-room hotel in Colonial Heights. Each room features kitchens with full-size refrigerators, microwave ovens, cooktops, platform beds with storage space beneath, recliners and high-speed Wi-Fi. Amenities include a fitness center, laundry room and a lobby. Kara Hospitality is managing the property. The new building is located at 441 Charles H Dimmock Parkway, 23 miles south of downtown Richmond.
PALM COAST, FLA. — Atlantic Housing Partners LLLP has opened Central Landings Senior Living, a $14.8 million affordable seniors housing community in Palm Coast. The 83-unit facility is reserved for those 62 years of age and older earning between 40 and 80 percent of the area median income. The property offers one- to three-bedroom floor plans. Each unit features granite countertops, CleanSteel appliances and screened-in patios. Communal amenities include a clubhouse with a dedicated senior resident activities center, pool table, business center, Amazon HUB package center, fitness center, walking trails and a dog park. The community is situated within the Palm Coast Town Center, a master-planned development that will include up to 2,500 multifamily units, 1.4 million square feet of office space and 3.4 million square feet of commercial space, including a movie theater and a hotel. The developer received $7.4 million in tax-exempt bonds through the Housing Finance Authority of Volusia County and $5.2 million in equity from the sale of Federal Housing Tax Credits allocated through Florida Housing Finance Corp. ConcordRents is managing the property.
TIMONIUM, MD. — MacKenzie Commercial Real Estate Services LLC has brokered the sale of 1919 Greenspring Drive, a 43,000-square-foot industrial property in Timonium. The facility was originally built in 1962 and sits on 1.8 acres about 13 miles north of downtown Baltimore. The building features both dock and drive-in loading and several mezzanine areas for additional storage space. At the time of sale, the building was fully leased to tenants including Opfer Auctioneering, GSI Corp., Wood Floor Warehouse and H&N Printing. The buyer, 1919 Greenspring LLC, purchased the property as part of a 1031 exchange. Dan Hudak and Andrew Meeder of MacKenzie Commercial represented the seller in the transaction.
CONCORD, CALIF. — Marcus & Millichap’s Levin Johnston team has negotiated the sale of The Lakes, a three-story apartment property located in Concord’s Ellis Lake neighborhood. A real estate investment company sold the community to a Bay Area family trust for $26.8 million. Constructed between 1967 and 1968 on 3.6 acres, The Lakes features 102 garden-style apartments spread across three buildings. The complex is a 10-minute walk from Diablo Valley College and the Concord Bay Area Rapid Transit station. Adam Levin and Robert Johnston of Marcus & Millichap’s Levin Johnston team represented the seller and procured the buyer in the transaction.
SAN DIEGO — Oberlin Realty LLC has purchased a freestanding flex, office and R&D property located at 10179 Huennekens St. in San Diego’s Sorrento Mesa. Pangea Properties sold the asset for $5.3 million. The buyer plans to occupy the entire two-story, 21,278-square-foot building and utilize the facility for its biotech business. Brant Aberg and Ryan Downing of Cushman & Wakefield San Diego represented the seller, while Chris Duncan of Voit Real Estate Services represented the buyer in the deal.
PHOENIX — CBRE has brokered the sales of two multifamily properties in Phoenix to separate California-based investors. NDX Investments II completed the disposition of 34 Arcadia, a newly renovated apartment complex located at 2934 N. 34th Place in Phoenix’s lower Arcadia neighborhood. Champion 34 Arcadia LLC acquired the asset for $5.9 million. The buyer is a first-time Phoenix multifamily investor from California. The community features 45 units in a mix of studio and one-bedroom floor plans, averaging 527 square feet. Interior upgrades include in-suite laundry, stainless steel appliances and upgraded countertops and bathrooms. California-based Goldstein Investment Co. acquired Idle Hours, a multifamily community in Phoenix, from Delaware-based Torino Holdings for $5.8 million in an all-cash transaction. Located at 1501 E. Rovey Ave. in Uptown Phoenix’s North Central Corridor, the 28-unit property was remodeled and repositioned in 2018 and features 800-square-foot, two-bedroom/one-bath floor plans. Interior upgrades include in-suite laundry, stainless steel appliances, quartz countertops and upgraded bathrooms. Brian Smuckler, Jeff Seaman, Derek Smigiel and Bryson Fricke of CBRE’s Phoenix office represented the buyers and sellers in the transactions.
CHICO, CALIF. — Washington, D.C.-based Easterly Government Properties has purchased a Department of Veterans Affairs (VA) outpatient clinic in Chico. Terms of the transaction, including acquisition price and name of the seller, were not released. Chico is home to the largest state veteran population in the country, according to the buyer. The facility is part of the Northern California Health Care System and is a built-to-suit clinic that was completed in mid-2019. The property was designed to achieve a LEED Healthcare Silver certification. The property is leased to the VA for an initial, non-cancelable lease term of 15 years until June 2034. The clinic provides a variety of medical and ancillary services including primary care, audiology, laboratory services, mental health, nutrition, otolaryngology (ENT), a pharmacy, social work and women’s health. The facility is located adjacent to the Chico VA Readjustment Counseling Service Center. Easterly Government Properties is a fully integrated real estate investment trust focused primarily on the acquisition, development and management of Class A commercial properties leased to the U.S. government.
