Property Type

Hard Rock International Completes $700M Casino Expansion in Tampa

by Alex Patton October 4, 2019

TAMPA, FLA. — Hard Rock International has completed a $700 million expansion of Seminole Hard Rock Hotel & Casino Tampa. The development added a new 223,900-square-foot casino to the property, which includes an additional 1,000 slot machines and 41 table games throughout its new gaming spaces. The new casino brings the roster of gaming attractions up to nearly 5,000 slot machines, 179 tables and 46 poker tables.The casino now comprises 245,000 square feet of dedicated casino space, according to the Tampa Bay Times. The renovation also included construction of a 14-story hotel with 562 rooms and suites. Amenities of the new hotel include a 26,000-square-foot spa, three pools, two VIP suites, a hair and nail salon, barbershop and lounge. The top floor also features a private gaming parlor for VIP guests. Additionally, the construction included a 1,500-seat Hard Rock Event Center, where completion celebrations were held including performances from Atlanta-based rapper Big Boi and DJ Jazzy Jeff. New food and beverage options at the property include coffee café Constant Grind, the Pool Bar & Grill and Italian restaurant Cipresso. “Seminole Hard Rock Hotel & Casino Tampa is already one of the largest and most profitable casinos in the United States,” says Jim Allen, …

October 4, 2019

Acquisitions Industrial Massachusetts Northeast

Cushman & Wakefield Brokers Sale of 287,856 SF Industrial Property in Chelsea, Massachusetts

by Alex Patton October 4, 2019

CHELSEA, MASS. — Cushman & Wakefield has brokered the sale of 22 Willow Street, a 287,856-square-foot industrial property in Chelsea, a northern suburb of Boston. The asset is situated within an 8.4-acre industrial complex leased to 52 tenants across a variety of industries. Rob Byrne, Scott Gredler, Pete Rogers, Mary Kensinger, Phillip Verre and James Murphy of Cushman & Wakefield represented the seller, Everett Place LLC. The buyer was a joint venture between Berkeley Partners and the Seyon Group.

October 4, 2019

Development Massachusetts Multifamily Northeast Seniors Housing

Callahan Completes 225-Unit Seniors Housing Community Near Cape Cod

by Alex Patton October 4, 2019

BARNSTABLE, MASS. — Callahan Construction Managers has completed construction of The Everleigh Cape Cod, a 225-unit independent seniors housing community in Barnstable. The property comprises a four-story, 338,695-square-foot building with one- and two-bedroom units for residents aged 55 and up. The development features more than 17,000 square feet of recreational space, including a pool, dog park, pickleball and bocce courts, theater and a fitness center. The Architectural Team designed the property, and Greystar owns and manages it.

October 4, 2019

Development New Hampshire Northeast Office

Farley White to Develop 72,000 SF Office Building in Newington, New Hampshire

by Alex Patton October 4, 2019

NEWINGTON, N.H. — Farley White has begun development of 90 Arboretum Drive, a 72,000-square-foot speculative office building in Newington, located approximately 40 miles east of Concord. Farley White will develop the building adjacent to its 100 Arboretum Drive property, a 130,000-square-foot office building anchored by Long Term Care Partners. John Broderick and Stephen Horan of Colliers International secured a $29 million loan from Berkshire Bank to finance the property, which is slated for completion in early 2020.

October 4, 2019

Leasing Activity New York Northeast Retail

Brooklyn Harvest Market Signs 10,000 SF Retail Lease in New York City

by Alex Patton October 4, 2019

NEW YORK CITY — Grocery retailer Brooklyn Harvest Market has signed a 10,000-square-foot lease in the East Williamsburg neighborhood of Brooklyn. The grocer will move into the ground floor of a building at 781 Metropolitan Ave. in mid-2020 for a term of 20 years. In addition to produce and other groceries, the store will offer a full-service butcher, seafood counters and prepared meals. Brooklyn Harvest currently operates three stores, including two others already in Brooklyn and one in Astoria. Garry Steinberg and Richard Kave of Lee & Associates represented Brooklyn Harvest in the lease negotiations. Hymie Dweck of Newmark Knight Frank represented the landlord, Adam America.

October 4, 2019

Leasing Activity New Jersey Northeast Office

CBRE Negotiates 115,000 SF Office Sublease in Bridgewater, New Jersey

by Alex Patton October 4, 2019

BRIDGEWATER, N.J. — CBRE has negotiated a 115,000-square-foot sublease for health information and research company IQVIA in Bridgewater, 35 miles west of New York City. The property, located at 77 Corporate Drive, is a four-story office building with a café, conference center and walking trails. The transaction follows the 2017 merger between IMS Health and Quintiles, which resulted in the creation of IQVIA, and allows the company to consolidate multiple regional facilities. Remy deVarenne and Sean Morley of CBRE negotiated the sublease on behalf of the sublandlord, Legacy Investors.

October 4, 2019

Development Industrial Texas

TDC Breaks Ground on 833,720 SF Distribution Center in Houston

by Taylor Williams October 4, 2019

HOUSTON — Transwestern Development Co. (TDC) has broken ground on Sam Houston Distribution Center, an 833,720-square-foot industrial project in northwest Houston. The Class A development will consist of three buildings and is scheduled for completion in the second quarter of 2020. The front-load and cross-dock buildings will range from 138,720 to 494,800 square feet and can accommodate users from 35,000 to 833,720 square feet. The ceiling heights range from 32 to 36 feet. The property also offers land for added trailer storage or a build-to-suit opportunity, as well as ample car parking and trailer stalls.

October 4, 2019

Loans Multifamily Texas

Stratus Properties Refinances 448-Unit Apartment Community in Austin

by Taylor Williams October 4, 2019

AUSTIN, TEXAS — A subsidiary of Stratus Properties Inc., a publicly traded investment and development firm, has received a $75 million loan for the refinancing of The Santal, a 448-unit apartment community located in the Barton Creek area of Austin. ACRC Lender LLC provided the non-recourse loan, which carries a three-year term with two 12-month extension options and bears a 4.8 interest floor. A portion of the proceeds will be used to retire construction debt. The Santal features one-, two- and three-bedroom units and amenities such as a pool, fitness center, dog park, resident lounge and package handling service.

October 4, 2019

Loans Mixed-Use Texas

JLL Arranges $42M Refinancing for Century Square Mixed-Use Property in College Station

by Taylor Williams October 4, 2019

COLLEGE STATION, TEXAS — JLL has arranged a $42 million loan for the refinancing of Century Square, a mixed-use property in College Station. Built in 2018 and located adjacent to Texas A&M University’s campus, the development features 159,128 square feet of retail space, 57,204 square feet of office space, two hotels totaling 303 rooms and 249 multifamily units, as well as open green spaces. The refinancing did not cover the hospitality and residential components. Ares Management Corp. provided the nonrecourse loan to the borrower, a partnership between Houston-based Midway Cos. and Chicago-based Harrison Street. Colby Mueck, Timothy Joyce, Stephen Skok, Stuart Hepler, Katherine Miller and Charlie Strauss of JLL handled the transaction.

October 4, 2019

Development Florida Loans Multifamily Southeast Walker & Dunlop

Walker & Dunlop Provides $35.4M Construction Loan for Retail-to-Multifamily Project in Florida Panhandle

by Alex Tostado October 4, 2019

MARY ESTHER, FLA. — Walker & Dunlop has provided a $35.4 million Department of Housing and Urban Development (HUD) loan for the construction of Renaissance Santa Rosa in Mary Esther, located on the Florida Panhandle. The borrowers and developers of Renaissance Santa Rosa, Rea Ventures Group LLC and Radiant Partners, will transform a former department store site connected to Santa Rosa Mall into a four-building, 229-unit multifamily community. The property will offer one-, two- and three-bedroom floor plans. Community amenities will include a two-story clubhouse, swimming pool, business center, game room, exercise facility, picnic areas, playground and a dog park. Frank Baldasare, Heather Olson, Al Rex and Marty McGrogan of Walker & Dunlop originated the 40-year loan on behalf of the borrowers.

October 4, 2019

Newer Posts

Older Posts