Property Type

Senior Resource Group Opens 232-Unit Seniors Housing Community at The Domain in Austin

by John Nelson January 2, 2020

AUSTIN, TEXAS — Senior Resource Group (SRG) has opened Maravilla at The Domain, the company’s first community in Texas. The project is located in the heart of the residential area of The Domain, a high-density mixed-use development in the North Burnet neighborhood of Austin. The seniors housing community comprises an 11-story south tower, six-story central tower and seven-story north tower, with subterranean parking, courtyards and a swimming pool. The 370,000-square-foot development offers 144 independent living, 54 assisted living and 34 memory care units. Residents have begun moving into Maravilla’s independent living apartments located in the central and south towers, and will start moving into the assisted living and memory care residences in the north tower this month.

January 2, 2020

Leasing Activity Restaurant Retail Texas

Whitestone REIT Signs Two Restaurant Concepts to Join Parkside Village South in Austin

by John Nelson January 2, 2020

AUSTIN, TEXAS — Whitestone REIT has signed two new restaurant concepts to join Parkside Village South, a shopping center located at 5701 W. Slaughter Lane in southwest Austin. The two restaurants, Oasthouse Kitchen + Bar and Keepers, will occupy 8,043 square feet and share a kitchen. Local restaurateurs Amir Hajimaleki and Ali Hajimaleki created the two concepts. The Parkside Village South location will be the second Oasthouse restaurant, while Keepers is a new seafood concept. The brothers also operate District Kitchen in Austin, which opened in 2013. Parkside Village South’s tenant roster includes Alamo Drafthouse Cinema, Chase Bank, Orangetheory Fitness, Kumon Learning Center, ATX Bike Shop, Kid Spa Austin and Burger Fi.

January 2, 2020

Acquisitions Industrial Texas

Marcus & Millichap Brokers Sale of 46,250 SF Industrial Building in The Colony, Texas

by John Nelson January 2, 2020

THE COLONY, TEXAS — Marcus & Millichap has brokered the sale of Riverview Business Center, a 46,250-square-foot industrial building located at 1671 Riverview Drive in The Colony. Situated on a four-acre parcel, the property was built in 2006 and renovated in 2010. Adam Abushagur of Marcus & Millichap’s Dallas office represented the seller, a private investor, in the transaction. Abushagur also procured the buyer, a private investor based in California that used the 1031 program.

January 2, 2020

Leasing Activity Office Texas

Paragon Healthcare Leases 67,000 SF at The Apex Building in Plano

by John Nelson January 2, 2020

PLANO, TEXAS — Paragon Healthcare, a medical firm specializing in infusible and injectable pharmacy services, has leased 67,000 square feet of office space at The Apex Building in Plano. The company will move more than 250 employees from its current headquarters in Dallas to its new offices at 3033 W. President George Bush Highway. Paragon plans to create an additional 75 positions at the office by 2021. Brad Struck, Darren Woodson and Roy Reis of esrp represented Paragon in the lease negotiations, and Susan Arledge of esrp arranged incentives with the City of Plano. Duane Henley of Transwestern represented the landlord, Dallas-based Champion Partners.

January 2, 2020

Leasing Activity Restaurant Texas

Mooyah Burgers Opens New Restaurant at Stonebriar Centre in Frisco Within KidZania USA

by John Nelson January 2, 2020

FRISCO, TEXAS — MOOYAH Burgers, Fries & Shakes, a fast-casual burger chain based in Plano, has partnered with KidZania USA, an interactive 85,000-square-foot indoor “city” for kids ages 6 to 14, to be one of the featured restaurant experiences within KidZania’s first North America location. The indoor family entertainment center, which now has 29 locations in 22 countries, opened at Stonebriar Centre in Frisco. Brookfield Properties owns the mall. Guests at Mooyah can be their own chefs by creating their own hand-cut fries and real ice cream shakes. According to the Brookfield website, there are more than 100 occupations that children can utilize at the KidZania USA location.

January 2, 2020

Acquisitions Life Sciences Massachusetts Northeast Office

NKF Brokers Sale of 224,305 SF Life Sciences Building in Cambridge, Massachusetts

by Alex Patton January 2, 2020

CAMBRIDGE, MASS. — Newmark Knight Frank has brokered the sale of The ARC, a 225,305-square-foot life sciences building in Cambridge, a northern suburb of Boston. The property is 100 percent leased to five biopharmaceutical and biotechnology companies complemented by a burger restaurant. Amenities include a fitness center, indoor solarium and outdoor green space. An NKF team including Robert Griffin, Edward Mahar and Matthew Pullen represented the seller, a partnership of The Davis Cos. and Invesco. The team also procured the buyer, Healthpeak Properties Inc.

January 2, 2020

Development Massachusetts Multifamily Northeast

Callahan Construction Breaks Ground on 331-Unit Apartment Complex in Lynn, Massachusetts

by Alex Patton January 2, 2020

LYNN, MASS. — Callahan Construction Managers has broken ground on Breakwater, a 331-unit apartment complex in Lynn, a northern suburb of Boston. A joint venture of The Dolben Co. and Minco Corp. is developing the two-building waterfront apartment complex on the site of the former Beacon-Bel Chevrolet lot, which had stood vacant for 35 years. Amenities will include a fitness center, game room, pet wash, outdoor firepit and direct access to the waterfront. HDS Architecture is designing the complex.

January 2, 2020

Loans New York Northeast Office

JLL Arranges $20M Refinancing Loan for Office Building in Manhattan

by Alex Patton January 2, 2020

NEW YORK CITY — JLL has arranged a $20 million refinancing loan for 16 West 36th Street, a 67,271-square-foot office building with ground-floor retail in Midtown Manhattan. An undisclosed life insurance company provided the loan to the borrower, Windsor Management Corp., which has owned the building since the 1940s. Windsor recently invested in renovations of the building’s office suites with new glass walls, new bathrooms, polished concrete floors and finished kitchens. Steven Klein and Alex Staikos of JLL arranged the loan.

January 2, 2020

Loans Maine Multifamily Northeast Student Housing

Tremont Mortgage Provides $18.1 Million Refinancing for 576-Bed Student Housing Community Near University of Maine

by Alex Patton January 2, 2020

ORONO, MAINE — Tremont Mortgage Trust has provided an $18.1 million loan for the refinancing of Orchard Trails, a 576-bed student housing community located near the University of Maine in Orono. The floating-rate loan includes an initial funding of approximately $17 million and a future funding allowance of approximately $1.1 million for property improvements. The loan is structured with a three-year initial term and two one-year extension options. Originally built in 2006, the community offers four-bedroom units alongside shared amenities including a study lounge, clubhouse, game room, state-of-the-art fitness center, basketball and volleyball courts and an outdoor grilling station. The borrower was undisclosed.

January 2, 2020

Development Florida Industrial Southeast

Seefried to Develop 1 MSF Amazon Fulfillment Center in Central Florida

by Alex Tostado January 2, 2020

DELTONA, FLA. — Amazon has unveiled plans for a new fulfillment center in Deltona, a city situated nearly 30 miles northeast of Orlando. Atlanta-based Seefried Industrial Properties will develop the more than 1 million-square-foot fulfillment center near Interstate 4, where large items will be picked packaged and shipped. Items will include sports equipment, patio furniture, pet food and large household goods. Amazon is expected to create more than 500 new jobs in Deltona. A timeline for construction of the Deltona facility was not disclosed. Currently, Amazon operates facilities in and around Orlando, Miami, Tampa and Jacksonville.

January 2, 2020

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