MILWAUKIE, ORE. — Marcus & Millichap has arranged the sale of Westwood Marketplace, a retail asset located in Milwaukie. A limited liability company sold the property to an undisclosed buyer for $4.1 million. Located at 14880 SE Webster Road, Westwood Marketplace features 14,189 square feet of retail space. Safeway anchors the property, which was 100 percent leased to long-term tenants at the time of sale. Joseph Blatner and Scott Logan of Marcus & Millichap’s Portland, Ore., office represented the seller in the transaction.
ATHENS, GA. — A joint venture between Fickling & Co., Novare Group and BCDC has broken ground on Lullwater at Athens, a 252-unit apartment complex in Athens. The property will offer one- through three-bedroom floor plans. Communal amenities will include a clubhouse, swimming pool, community pavilion, car care center and a pet park. It will be located at 225 Jennings Mill Parkway, nine miles west of downtown Athens and six miles west of the University of Georgia. Lullwater at Athens is expected to open in the fourth quarter of 2020.
BOSTON — Shell TechWorks, an entrepreneurial research division of oil and gas giant Shell, has signed a 43,821-square-foot office lease at Two Drydock, an office building currently under construction in Boston’s Seaport district. Skanska is developing and constructing the 230,000-square-foot, Class A office building, which is slated for completion by early 2020. The building will feature an 8,000-square-foot rooftop terrace and a 5,500-square-foot amenity space with a fitness center, lounge and bike space. Shell TechWorks will occupy floors five and six of the building.
BLACKSBURG, VA. — A joint venture between Core Spaces and Kayne Anderson Real Estate is set to break ground on Hub on Campus Blacksburg, a 1,530-bed student housing community serving students at Virginia Tech. The project will be delivered in two phases, with the first scheduled for completion in fall 2021. The second phase of development is set to open in fall 2022. The community will feature amenities such as a swimming pool, fitness center, weight room, study lounges, walking paths and a 1,110-space parking garage. TSB Capital Advisors consulted on the formation of the joint venture. TSB Realty arranged the sale of the development site to the new venture on behalf of the seller, The Reliant Group.
NASHVILLE, TENN. — Hamilton Zanze has acquired Rivertop Apartments, a 224-unit multifamily community in Nashville. The property offers one-, two- and three-bedroom floor plans ranging from 878 to 1,418 square feet. Community amenities include a resident clubhouse, swimming pool, 24-hour fitness center, bocce ball court, dog park, pet spa, outdoor grills and firepits. Rivertop is located at 5800 River Road, nine miles southwest of downtown Nashville. The seller, Birmingham-based LIV Development, opened the property earlier this year. The sales price was not disclosed.
STERLING, VA. — KeyBank Real Estate Capital has provided a $29.4 million acquisition loan for two office buildings in Sterling. Loudoun Gateway II and III span 179,864 square feet. CACI International Inc., a professional services and information technology company, fully leases Gateway II and 67 percent of Gateway III. The remaining space is leased to three other tenants. The property is located at 45195 Business Court, 27 miles west of downtown Washington, D.C. John Ward of KeyBank originated the loan on behalf of the borrower, Sackman Enterprises. Barry Judelson of Uniquities brokered the deal. The seller was not disclosed.
ATLANTA — The National Basketball Association’s Atlanta Hawks have signed a three-story office lease with The Dilweg Cos. to occupy 53,865 square feet. The Hawks plan to renovate the space starting this month. Upgrades will include a new employee lounge and break room that will contain a full-service kitchen with a mix of seating, break-out spaces, flat-screen televisions and several other tech-infused amenities. Other plans include revamped offices for the Hawks sales team that will feature a variety of sales and training areas, open-floor layouts, socializing areas and a coffee bar. In January, WeWork signed a 100,300-square-foot lease, with company signage at the top of the building, at 101 Marietta St.
MONTGOMERYVILLE, PA. — An affiliate of raw materials distributor Panadyne Inc. has acquired an industrial center in Montgomeryville, a northern suburb of Philadelphia. Panadyne will occupy approximately 50 percent of the 22,000-square-foot facility, which features 17-foot ceiling heights and 1,500 square feet of office space. Frank Roddy of Roddy Inc. represented Panadyne in the transaction.
FAIRFIELD, N.J. — CBRE has arranged the sale-leaseback of a 100,000-square-foot industrial facility in Fairfield, located approximately 20 miles west of New York City. EverWest Real Estate Investors LLC acquired the property from Unifoil Corp., which will continue to occupy the industrial property via a long-term lease. Built in 1988, the property at 12 Daniel Road features 27,000 square feet of office space and parking for 188 cars. William Waxman, Kevin Dudley, David Gheriani and Gil Medina of CBRE represented EverWest in the lease negotiations. The sales price was undisclosed.
PHILADELPHIA — NAI Mertz has negotiated an 11,250-square-foot industrial lease in Philadelphia. The tenant, Rodan Enterprises LLC, will use the facility to house its company, SureShade, a designer and manufacturer of innovative marine sunshade systems. The space is located within a 75,000-square foot industrial building with 25-foot ceiling heights, one drive-in door and one tailgate door. Joe Sternberg of NAI Mertz represented the landlord, Onyx Partners, in the lease negotiations.