CLINTON AND BROCKTON, MASS. — Marcus Partners has acquired the Northeast Logistics Portfolio, a three-building industrial portfolio in Clinton and Brockton. The sales price was undisclosed. The properties, which total 730,000 square feet, include 100 Adams Road in Clinton as well as 525 Campanelli Drive and 1010 West Chestnut Street in Brockton. Edward Maher, Matthew Pullen, James Tribble and Samantha Hallowell of NKF Capital Markets represented the seller, NorthBridge Partners, in the transaction.
LAWRENCEVILLE, N.J. — HFF has negotiated the sale of Steward’s Crossing, a 240-unit apartment community in Lawrenceville. The sales price was undisclosed. Located at 1000 Stewards Crossing Way, the 12-building property is spread across 12 acres. Amenities include a clubhouse, 24-hour fitness center, swimming pool with sundeck, grilling areas, dog park, walking paths and covered parking. HFF represented the seller, Merion Realty Partners and a joint venture partner, in the transaction. Berkshire Group purchased the property.
BROOKLINE, MASS. — Jewish Community Housing for the Elderly (JCHE) has announced plans for a 62-unit affordable seniors housing community in Brookline, a town just southwest of downtown Boston. The community, which has not yet been named, will be located in the densely populated neighborhood of Coolidge Corner. Construction is scheduled to begin in the first quarter of 2019 for completion in summer 2020. JCHE and synagogue Congregation Kehillath Israel (KI) are working together to create a multi-generational village center that simultaneously addresses the issues of social isolation and housing affordability. KI will lease space on its Harvard Street campus to JCHE to develop the property, which will be connected both physically and programmatically to the synagogue. The community, located on a half-acre site, will also offer 1,000 square feet of retail space and a public pocket park. Although the property features no parking, the transit-oriented development is near to the MBTA Green Line and bus line, and also offers transportation via Zip Car, Brookline’s ElderBus service and JCHE’s van service.
MAITLAND, FLA. — Coral Gables, Fla.-based The Allen Morris Co. has completed the development of Maitland City Centre, a $68 million mixed-use property located at 190 Independence Lane in Maitland, a northern suburb of Orlando. Encompassing a full, three-acre city block, the six-story development features 220 one- and two-bedroom rental apartments, 24 live/work units (one-bedroom with an office suite) and 35,000 square feet of commercial space with high visibility. On-site amenities include a rooftop pool deck and lounge, business center and co-working space, individual furnished offices for lease, pet wash and grooming facility, private rooftop dog park, fitness center, group fitness room and courtyard yoga lawn and a private courtyard with grilling stations and outdoor living room. Additional amenities include a clubhouse, lounge and game room, mail room café, high-speed Wi-Fi internet throughout the amenity space, access-controlled covered parking and designated Uber and Lyft pick-up stations. The project team includes LAMM & Co., Millenia Partners and ACi Architecture.
TULSA, OKLA. — Dallas-based R/D Investors has acquired Tulsa Hills, a 700,000-square-foot retail power center located at 7336 S. Olympia Ave. in Tulsa. Completed in 2011, the center houses tenants such as Lowe’s Home Improvement, Target, Dick’s Sporting Goods, Best Buy, Marshalls, PetSmart and Ulta Beauty. The seller was not disclosed, but Tulsa World reports that the sale price was $70 million.
DENTON, TEXAS — Fisher59, a distributor of alcoholic beverages serving Texas and Oklahoma, will open a $35 million distribution center and headquarters in Denton. Designed by HDA Architects, the 218,800-square-foot project will feature a cross-dock configuration for the warehouse component, as well as 22,000 square feet of office space. The office build-out will deliver executive and private offices, a sales training room, fitness center and a café. Completion is slated for fall 2019.
ATLANTA — Floor & Decor, a specialty retailer of hard surface flooring and related accessories, plans to relocate and expand its headquarters to Cobb County from Atlanta. The company’s expansion will create 500 jobs, including administrative and customer service positions, over five years, according to Georgia Gov. Nathan Deal. Additionally, the company will receive a $500,000 grant to help establish the new headquarters and could be eligible for more than $3 million in state tax breaks for five if it creates 500 qualifying new jobs, according to the Atlanta Journal-Constitution. Floor & Decor was founded in Atlanta in 2000 and currently operates 95 warehouse-format stores in 26 states, including seven in Georgia. In February, the company opened a 1.4 million-square-foot distribution center, which employs more than 100 people, outside of Savannah.
CARROLLTON, TEXAS — ML Realty Partners has purchased a 102,012-square-foot industrial building located within Valwood Industrial Park in Carrollton, a northern suburb of Dallas. The property offers access to Interstate 35 and State Highway 161. Greg Nelson of Paladin Partners represented the seller in the transaction and will retain leasing responsibilities for the property.
MISSOURI CITY, TEXAS — CBRE has negotiated the sale of Holiday Inn Express & Suites Missouri City West, an 84-room hotel in Missouri City, a southwestern suburb of Houston. Illinois-based Yeluh, LLC purchased the asset from MC Hotels LLC for an undisclosed price. Michael Yu, Rahul Bijlani and Agrama Mannapperuma of CBRE brokered the transaction, which is the seventh Houston-area hotel sold by CBRE’s South Central Hotel team this year.
VERNON, TEXAS — Marcus & Millichap has arranged the sale of Santa Rosa Retail Center, a 19,464-square-foot retail property in Vernon, a city in northwest Texas. Philip Levy of Marcus & Millichap represented the seller and procured the buyer, both of which were undisclosed private investors. Tenants at the center include Dollar General and Anytime Fitness.