ALAMEDA, CALIF. — Wood Partners has broken ground on Alta Buena Vista, an apartment community located at 1501 Buena Vista Ave. in Alameda. Situated on the northern waterfront, the 10-acre community will mix the existing six-acre historic 1920s-era Del Monte Warehouse with new apartments and retail spaces. BAR Architects designed the project. Slated to open in early 2022, Alta Buena Vista will offer 372 apartments in a mix of studio, one- and two-bedroom floor plans, as well as two- and three-bedroom townhomes. Additionally, the property will feature a fitness center, resident lounge, multiple roof decks and 11,000 square feet of ground-floor retail space.
IRVINE, CALIF., AND SALT LAKE CITY — Irvine-based Faris Lee Investments, a national retail advisory and investment sales firm, and Salt Lake City-based MTN Retail Advisors, a grocer-specialized data collection and analytics provider, have entered into a partnership agreement. The collaboration will allow the team to combine Faris Lee’s retail, real estate, finance and investment advisory services with MTN’s predictive analytics and proprietary technology, including artificial intelligence machine learning. “MTN’s retail-specific, fact-based analytics will factor into the valuation, underwriting and assessment of these assets as we examine the real estate in any local market for the benefit of the occupier, investor/developer and lender,” says Rick Chichester, president and CEO of Faris Lee Investments. MTN maintains data records on more than 28,000 active U.S. grocers — a number that will grow to include 40,000 grocers over the next 18 months as the partnership takes shape. “We are not a market research firm, a demographer or an aggregator,” says Doug Munson, principal and founder of MTN Retail Advisors. “We take an analytic approach to retail investment that doesn’t exist anywhere else today. Our methods have been refined over the company’s 15-year history, through physical site visits to every grocery we have on …
HALTOM CITY, TEXAS — Phoenix-based Creation Equity has broken ground on The 820 Exchange, a commercial project located in the Fort Worth suburb of Haltom City that will consist of roughly 1 million square feet of office and warehouse space. LGE Design Build, also based in Phoenix, is the general contractor for the project. According to the Dallas Business Journal, the project is valued at $45 million and is expected to be complete by fall 2020.
TEMPLE, TEXAS — KeyBank Real Estate Capital has provided $19.6 million in financing to Denver-based Steele Properties LLC for the acquisition and renovation of Wayman Manor Apartments, a seniors housing property located in the Central Texas city of Temple. Following the renovation, Wayman Manor, which was built in 1971, will consist of 32 one-bedroom units, 96 two-bedroom residences and 32 three-bedroom units. All units are restricted under low-income housing tax credit (LIHTC) regulations at 60 percent of the area median income. Sarah Geis of KeyBank handled the transaction.
DALLAS — TripActions, a Silicon Valley-based platform that manages corporate travel, has signed an 88,490-square-foot office lease at Renaissance Tower, a 56-story building located at 1201 Elm St. in downtown Dallas. Evan Hammer, David Harris and Jade Scott of Whitebox Real Estate, along with Bo McNally and David Bergeron of T3 Advisors, represented TripActions in the lease negotiations. Dennis Barnes, Clay Gilbert and Ben Davis of CBRE represented the landlord, a joint venture between SMA Equities and Moinian Group.
AUSTIN, TEXAS — Rastegar Property Co. has acquired Plaza 38, a 48-unit multifamily property located at 206 W. 38th St. in Austin’s Hyde Park neighborhood of Austin. The property features one- and two-bedroom units with hardwood floors, full kitchens and brick accent walls. Amenities include a pool and patio area. The seller was not disclosed. Newmark Knight Frank represented Rastegar in the transaction.
COLUMBUS, OHIO — Restoration Hardware has opened RH Columbus, The Gallery at Easton Town Center. The three-story, 60,000-square-foot concept includes a rooftop restaurant, wine and barista bar and landscaped park. On level two, visitors will find RH Modern, an assortment of modern furnishings, lighting, textiles and décor, as well as the RH Interior Design Firm & Atelier. RH Columbus is located at 4120 Worth Ave. within Easton Town Center, a 1,300-acre shopping center and mixed-use destination. “RH Columbus reflects our vision to create architecturally inspiring spaces that blur the lines between residential and retail, indoors and outdoors, home and hospitality — spaces that activate all of the senses and create an immersive experience that cannot be replicated online,” says Gary Friedman, RH chairman and CEO.
OVERLAND PARK, KAN. — MAG Capital Partners LLC has acquired a 43,000-square-foot retail building located at 12100 Blue Valley Parkway in Overland Park for an undisclosed price. The seller, Lukas Wine & Spirits Superstore, will lease back the property. Brendan McPherson of Polsinelli PC and Mary Garnett of Barnes & Thornburg LLP represented MAG Capital Partners, which is led by principals Dax T.S. Mitchell and Andrew Gi. Victor Saponari of Quantum Capital arranged acquisition financing through Deutsche Bank. Michael Kaider of CBRE represented the seller.
CLEVELAND — MCR has purchased the 240-room Hilton Garden Inn hotel in downtown Cleveland for an undisclosed price. Located at 1100 Carnegie Ave., the property is a short drive from the home where the 1983 movie A Christmas Story was filmed. Starring Peter Billingsley, a young boy named Ralphie attempts to get a Red Ryder BB gun from Santa. The Hilton Garden Inn features Harvey’s Sports Lounge and The Garden Grille, as well as a convenience store, fitness center, indoor pool, business center and 11,000 square feet of meeting space. New York City-based Hotel 1100 Carnegie LP sold the hotel for $28.2 million, according to Crain’s Cleveland Business.
ST. LOUIS — NorthMarq has arranged a $3.5 million loan for the acquisition of Balmoral Plaza in St. Louis. The two-story property comprises 12,720 square feet of office space above 12,020 square feet of retail space. It is located at 443-465 N. New Ballas Road. Jeffrey Chaney of NorthMarq arranged the 10-year, fixed-rate loan on behalf of the borrower, Cape-Jackson SLB LP. A life insurance company provided the loan.