BOSTON — Cambria Hotels has opened the 159-room Cambria Hotel Boston, Downtown-South Boston. The hotel offers close access to the Massachusetts Bay Transportation Authority red line. Amenities include a rooftop restaurant, lobby lounge, fitness center and 160-person event space. RODE Architects designed the building, the first Cambria Hotel in Massachusetts.
NORTH HAVEN, CONN. — Hartford HealthCare Corp. will open a new 40,700-square foot facility in the 273,452-square-foot North Haven Pavilion retail center in North Haven, a northern suburb of New Haven. Hartford HealthCare provides a range of medical services including air ambulance, behavioral health and rehabilitation, and skilled nursing and home health services. The facility will occupy space in the former Sports Authority building, joining tenants including Target and Michaels. National Realty & Development Corp. is the owner of the retail center. The facility is slated to open this summer.
WESTPORT, CONN. — Flexible workspace provider Serendipity Labs has opened a 23,000-square-foot coworking office space in Westport, an eastern suburb of Stamford. The space is located at 55 West Boston Post Road Homeclear Serendipity Westport LLC owns the office building.
ELMWOOD PARK, N.J. — NAI James Hanson has negotiated a 3,005-square-foot lease expansion for roofing contractor Peck Brothers LLC in Elmwood Park, a western suburb of New York City. The company originally leased 4,970-square-feet at Elmwood Park Plaza beginning in 2018, and its headquarters now occupies a total 7,973 square feet. Located at 475 Mark Street, the total square footage of the building is 68,000 square feet. Randy Horning and Darren Lizzack represented Peck Brothers in the lease negotiations. Alfred Sanzari Enterprises is the landlord.
ATLANTA AND WASHINGTON, D.C. — Pebblebrook Hotel Trust has entered into agreements to sell both InterContinental Buckhead Atlanta and Sofitel Washington DC Lafayette Square for a combined $331 million. InterContinental Buckhead Atlanta is a 422-room hotel in Atlanta’s Buckhead district, situated 10 miles north of downtown Atlanta. The hotel sold at a 6.4 percent cap rate. Sofitel Washington DC Lafayette Square is a 237-room hotel situated a block north of The White House. The property sold at a 5.7 percent cap rate. An undisclosed third-party buyer will acquire both properties. Pebblebrook expects to close both sales by the end of the first quarter.
ORLANDO, FLA. — Unicorp National Development Inc. will construct a nine-story, 300,000-square-foot building that will house Marriott Vacations Worldwide Corp.’s headquarters in Orlando. The building will be situated within Unicorp’s O-Town West development, a $1 billion mixed-use project that will include restaurants, offices, entertainment, retail stores, hotels, apartments and residential homes. HuntonBrady Architects is the designer and Finfrock Construction will serve as the general contractor of the office project. Construction of the new campus is scheduled to begin in early 2020 with a 2021 anticipated completion date. Additional details and features of the global headquarters are yet to be determined. Marriott Vacations Worldwide operates under Marriott International while offering vacation ownership, exchange, rental and resort and property management.
RALEIGH, N.C. — Jamestown and Grubb Ventures will develop Phase I of Raleigh Iron Works, a planned mixed-use project that will feature 500,000 square feet of office space, 90,000 square feet of retail space and 220 multifamily units. Phase I is expected to cost more than $150 million to develop and will include a new seven-story multifamily building and the renovation of historic steel mills and warehouses that were once part of Peden Steel. The new residential building will pay homage to historic Raleigh. The historic buildings will be repurposed into office and retail spaces, featuring original architectural details and distinctive finishes. Construction will begin this year and continue through 2023 with plans for additional development. The project site is situated at Raleigh’s Five Points, Person Street and Mordecai neighborhoods, about three miles north of downtown Raleigh.
ATLANTA — North American Properties (NAP) will break ground Wednesday on Building 500, a six-story, 135,600-square-foot office building within Colony Square in Atlanta’s Midtown district. Jones Day, a Cleveland-based law firm, will lease the entire office component of the building, which will feature ground-level retail space and an outdoor terrace on the fourth floor overlooking Peachtree Street. Hoar Construction is the general contractor. A timeline for completion was not disclosed. NAP began vertical construction of Colony Square in April 2019. Colony Square at full buildout will include 912,000 square feet of Class A office space, 160,000 square feet of retail and restaurants, a 466-room W hotel, outdoor space and 262 luxury residences.
NASHVILLE, TENN. — PNC Bank and CIT have jointly provided an $81.4 million acquisition loan for the DoubleTree by Hilton Nashville Downtown, a 341-room hotel that is situated less than a mile from Nissan Stadium and Bridgestone Arena, home to the NFL’s Tennessee Titans and the NHL’s Nashville Predators, respectively. Walton Street Capital LLC sold the hotel to AWH Partners. The hotel, which was originally built in 1979, offers an upgraded lobby; 20,000 square feet of meeting and event space; Fourth & U restaurant and bar; Patio 315, a seasonal outdoor bar and grill; an indoor pool; onsite Starbucks; a fitness center; and valet parking. Jordan Roeschlaub, Dustin Stolly, Ben Greazel, Joel Simmons Nick Scribani, Chris Kramer and Drew Ahlers of Newmark Knight Frank (NKF) arranged the loan on behalf of the borrower, New York-based AWH Partners. Mark Schoenholtz, also with NFK, brokered the sale.
GRAPEVINE, TEXAS — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of The Asher, a 450-unit apartment community in the Fort Worth suburb of Grapevine. The property was built on 19 acres in 2019 and features studio, one-, two- and three-bedroom units. Amenities include a pool, fitness center, business center, resident lounge with a coffee bar, children’s play room, conference room, two dog parks and a demonstration kitchen. Will Balthrope, Drew Kile, Joey Tumminello and Grant Raymond of IPA handled the transaction. The seller and buyer were not disclosed, but the property page indicates that the community has been rebranded as Bexley Grapevine, a brand of Virginia-based Weinstein Properties.
