WILLIAMSPORT, PA. — HFF has negotiated the sale of Loyal Plaza, a 293,607-square-foot shopping center in Williamsport. The sales price was undisclosed. Located at 1915-1965 E. 3rd St., the property is currently 94 percent leased to a tenant roster that includes Giant Food Stores, Dollar Tree, Verizon Wireless, Staples, Great Clips, BB&T Bank and Red Lobster. Chris Munley and Michael DiCosimo of HFF represented the undisclosed seller in the transaction. The buyer was PAG Investments.
CORPUS CHRISTI, TEXAS — MIMCO, a retail investment and development firm based in El Paso, has acquired Five Points Shopping Center, a 276,593-square-foot retail power center in Corpus Christi. The property was 99 percent leased at the time of sale to several national tenants, including anchors Ross Dress for Less, Hobby Lobby, Party City and Petco. Chris Gerard, Chris Cozby, Mark Witcher and Blaine Dozier of CBRE represented the seller, Brixmor Property Group, in the transaction. The sales price was not disclosed.
ARLINGTON, TEXAS — Marcus & Millichap has brokered the sale of Park Row East, a 205-unit multifamily community in Arlington. The property offers one- and two-bedroom units and a pool, outdoor picnic area, dog park, sport court and playground. Al Silva of Marcus & Millichap represented the seller, a Dallas-based investment group, in the transaction. Silva also procured the buyer, a Dallas-based partnership. The new ownership will rebrand the community as The Junction.
KINGWOOD, TEXAS — Comerica Bank has provided a $32.9 million loan to Stratus Properties Inc. (NASDAQ: STRS) for the construction of Kingwood Place, a mixed-use project in Kingwood, a master-planned community located north of Houston. The project will deliver a 103,000-square-foot H-E-B grocery store, 41,000 square feet of additional retail space, six retail pads and 300 multifamily units. The financing was structured at approximately 70 percent loan-to-cost. Construction is expected to begin this month, and the H-E-B is expected to open during the third quarter of 2019.
SAN ANTONIO — Worth & Associates has broken ground on Farinon Business Park III, an 84,890-square-foot office building in San Antonio. The two-story, Class A property is located within Worth’s master-planned business community at 5818 Farinon Drive on the city’s northwest side. Completion is slated for the third quarter of 2019.
DALLAS — MedCore Partners, a Dallas-based developer specializing in healthcare and seniors housing properties, will develop a 65,000-square-foot medical office building in Dallas. The Class A property will be located on the Texas Health Harris Methodist Hospital Alliance campus and will house an ambulatory spine surgery center operated by Spine Team Texas. The building is expected to be ready for occupancy during the first quarter of 2020.
CHICAGO, CINCINNATI AND COLUMBUS, OHIO — Westmount Realty Capital LLC has acquired a 1.4 million-square-foot industrial portfolio in Chicago, Cincinnati and Columbus. The portfolio consists of 12 buildings constructed between 1970 and 1994 with clear heights ranging from 20 to 26 feet and an average office finish of 7 percent. Some of the larger tenants within the portfolio include Pactiv, Sonoco Products, Graham Packaging, SAF-Holland USA and FedEx. In the Chicago area, the portfolio consists of a 123,986-square-foot single asset in Alsip that is currently fully leased to four tenants. The Cincinnati portion of the portfolio includes a collection of seven assets. Five of the buildings are in the West Chester submarket on the north side of the Cincinnati metro area. The remaining two buildings are located off I-71 just east of the Cincinnati/Northern Kentucky International Airport. The Columbus portion consists of three infill properties in the West submarket and one 289,491-square-foot asset located south in the Rickenbacker submarket. This portion of the portfolio is currently 78 percent leased. The seller was not disclosed.
MINNEAPOLIS — The Opus Group has broken ground on a six-story, 218-unit apartment building in the North Loop neighborhood of Minneapolis. Located at the intersection of West River Parkway and Plymouth Avenue, the development will include a mix of studios, alcoves, one- and two-bedroom units and penthouses. Completion is slated for summer 2020. This project is the third in the North Loop for Opus.
MONTGOMERY, ILL. — Jameson Commercial has brokered the $4.7 million sale of Season’s Ridge Plaza in Montgomery, a western suburb of Chicago. The retail center sits on 3.8 acres at 1779-1799 Douglas Road and includes a freestanding Walgreens and Pet Supplies Plus. Esther Berman and Mark Jones of Jameson represented the seller, a local retail developer. A California-based buyer purchased the asset.
HARVARD, ILL. — Marcus & Millichap has arranged the sale of Harvard Park Apartments in northern Illinois for $2.8 million. Built in 1975, the 40-unit apartment property is located at 108-124 W. Brink St. The five-building property features two-bedroom units with private patios. David Tarnoff of Marcus & Millichap brokered the transaction on behalf of the undisclosed parties.