SUGAR LAND, TEXAS — Phoenix-based grocer Sprouts Farmers Market is nearing completion of construction of its 30,000-square-foot store in Sugar Land, a southwestern suburb of Houston. The official opening is slated for Jan. 16, 2019. The store, located at 13550 University Blvd., is expected to create approximately 140 new jobs upon opening.
NEWNAN, GA. — The Praedium Group has acquired Trees of Newnan, a multifamily property located in Newnan, for $79.5 million, or $159,000 per unit. Chris Spain, Robert Stickel and Alex Brown of Cushman & Wakefield represented the seller, Watkins Real Estate Group, in the transaction. The buyer plans to rebrand the 500-unit property as The Willows at Ashley Park. On-site amenities include a fitness facility, resort-style pool, bark park pet playground and walking/jogging paths with natural wooded areas.
SKOKIE, ILL. — W.E. O’Neil Construction is underway on the construction of 8000 North, a 153-unit apartment project in Skokie. The 12-story, 318,000-square-foot property will include 15,000 square feet of retail space as well as a top-floor amenity space and rooftop garden. Units will range in size from 535 square feet for studios to 1,614 square feet for penthouse units. Monthly rents are projected to start at $1,400. The development team, including architect Lucien Lagrange Studio, worked with the village of Skokie to utilize $5.9 million in tax-increment financing for environmental remediation and site preparation of the property. The first residents are expected to move into the property by December 2019.
GAHANNA, OHIO — PEBB Enterprises has purchased Hunter’s Ridge, a 93,743-square-foot shopping center in Gahanna, an eastern suburb of Columbus. The purchase price was not disclosed. The property is located at the intersection of South Hamilton and Morrison roads. Kroger and Planet Fitness anchor the center. Other tenants include restaurants, a beauty salon, dance studio and medical office. PEBB now owns and operates four shopping centers in Ohio.
APPLETON, WIS. — Altitude Trampoline Park has signed a 33,247-square-foot lease to open its first Wisconsin facility in Appleton. The property is located at 4914 Integrity Way. The indoor trampoline park will include a ropes course, ninja course, rock wall, extreme dodge ball, zip lines and foam pits. John Day of The Woodmont Company and Patrick Owens of Transwestern represented the tenant in the lease transaction. Mark Pucci and Adam Figurin of Colliers International represented the landlord, Alliance Development.
FARIBAULT, MINN. — Dougherty Mortgage has provided a $9.3 million Fannie Mae loan for the refinancing of Faribault Senior Living. The 90-unit senior living property is located in Faribault, about 50 miles south of Minneapolis. Built in 2011, the four-story property includes independent living, assisted living and memory care units. Property amenities include an outdoor patio with resident gardens, a hair salon, fitness room, game room, activity room, library, dining hall and lounge areas. The 12-year loan is amortized over 30 years. Faribault Senior Living LLC was the borrower.
OAKDALE, MINN. — Summerhill Commercial Real Estate LLC has arranged the $8 million sale of a 109,444-square-foot warehouse in Oakdale, about 20 miles east of Minneapolis. Built in 1998, the property features a clear height of 24 feet, 13 dock doors and one drive-in door. RR Donnelly and Sky Zone fully occupy the property on net leases. Andy Richards and Peter Kordonowyof Summerhill represented the buyer, STAG Industrial Holdings LLC. Mark Young and John Higgins of Crossroads Properties Inc. represented the undisclosed seller.
TIGARD, ORE. — Los Angeles-based Watt Cos. has purchased Sygnii, a multifamily property located at 13285 SW Hawks Beard St. in Tigard, a suburb of Portland. Vancouver, Wash.-based Holland Partner Group sold the property for $75.2 million. Built in 2017, the property features 240 units in a mix of one-, two- and three-bedroom layouts. The property offers parking for 409 vehicles in 74 garages, 99 carport stalls and 236 surface spaces. Mark Washington, David Young and Corey Marx of JLL represented the seller, which developed the property.
CHATTANOOGA, TENN. — Dougherty Mortgage has closed a $27 million Fannie Mae loan for the acquisition of Elements of Chattanooga, a market-rate multifamily property located at 7310 Standifer Gap Road in Chattanooga. Bentley Place Residential is the borrower. The property features 340 units in a mix of one-, two- and three-bedroom layouts, and community amenities include a fire pit, outdoor kitchen, pool, clubhouse and fitness center. Dougherty Mortgage’s Brentwood, Tenn., office originated the 12-year loan, which utilizes Green Rewards and features a 30-year amortization schedule.
SANDY SPRINGS, GA. — Mimms Enterprises has sold two adjacent shopping centers totaling 334,787 square feet in Sandy Springs, a suburb of Atlanta. Jamestown purchased the portfolio free and clear of existing debt for an undisclosed price. The portfolio includes The Exchange at Hammond, located at 5930-5992 Roswell Road. The 176,376-square-foot property is fully leased to tenants including Whole Foods Market, Marshalls, Office Depot, Petco and Dollar Tree. The other asset is Parkside Shops, located at 5920 Roswell Road. The 158,411-square-foot shopping center is leased to tenants including The Cinema Springs & Taphouse, Battle and Brew, Tuesday Morning, Jump Start Gym, Chipotle Mexican Grill, Egg Harbor Café, Subway and il Giallo Osteria & Bar. Jim Hamilton, Brad Buchanan, Michael Allison and Shea Patrick of HFF represented Mimms in the deal.