FORT WORTH, TEXAS — Fort Capital has begun work on The Palmer, a 46-unit apartment complex that will be located in Fort Worth’s River District. All units will be integrated with IOTAS smart home technology, which allows residents to control lighting and thermostats and set home entry alerts from their smartphones or tablets. Communal amenities will include a rooftop lounge, coffee bar with co-working areas, package concierge services and bike storage. Completion is slated for early 2019.
NEW YORK CITY — Caspi Development and Mactaggart Family & Partners LP have acquired 134-136 Broadway, a 23,064-square-foot, six-story office building in the Williamsburg neighborhood of Brooklyn. The sales price was $18.8 million. Michael Sherman of The Manhattes Group represented the buyers in the transaction. The seller was 134-136 Broadway LLC. Caspi and Mactaggart intend to turn the property into a boutique office building for high-tech and creative office tenants.
FRISCO, TEXAS — Food, drink and movie concept Alamo Drafthouse will open an eight-screen theater at Frisco Station, a 242-acre mixed-use development in the northern Dallas metro of Frisco. The theater, which is expected to open in 2020, will be able to accommodate up to 1,200 guests. This location will also include a Video Vortex concept, which provides craft cocktails and beer for customers looking to rent older movies. The Frisco venue will be the company’s seventh location in North Texas.
NEW YORK CITY — Marcus & Millichap has brokered the sale of a four-story apartment building in the Park Slope neighborhood of Brooklyn. The 17-unit property, which is located at 400 6th Ave., sold for $6.5 million at a capitalization rate of 3.4 percent. The sales price equates to $604 per square foot. Matt Fotis and Matthew Shapiro of Marcus & Millichap represented the seller, a private investor, in the transaction. The buyer was also a private investor.
FORT WORTH, TEXAS — Urban Air Adventure Park, a Texas-based entertainment concept that features climbing walls, ropes courses and trampoline pits, will open a 31,000-square-foot venue in Fort Worth. The property will be located within Summer Creek Station, a 26-acre retail development on the city’s south side, and will open during the fourth quarter. Steve Williamson, Larry Jordan and Mason Bishop of Transwestern represented the landlord and developer, Wilson & Stonaker LLC, in the lease negotiations.
PISCATAWAY, N.J. — Bussel Realty Corp. has negotiated the $4.1 million sale of 150 Ethel Road West, a 33,000-square-foot industrial buildingin Piscataway. The property features 20-foot ceiling heights, 3,000 square feet of offices and one oversized drive-in door for loading. Steve Bussel and Anthony Mircovich of Bussel Realty represented the seller, Preferred Management, in the transaction. Resource Realty of North Jersey represented the buyer, East Coast International Tire Group.
ELMWOOD PARK, N.J. — NAI James E. Hanson has arranged the sale of a 45,000-square-foot industrial and flex building at 475 Mola Blvd. in Elmwood Park. The sales price was undisclosed. NAI James E. Hanson represented the seller, 475 Boulevard LLC, in the transaction. The buyer was Millstein Acquisitions. The property includes 7,000 square feet of office space, six loading docks, one drive-in and 165 parking spaces. Achieve 24 Fitness currently operates 13,000 square feet of the building as a fitness center. The buyer plans to divide the building’s remaining vacant space into two 5,000 square feet units and one 23,000-square-foot unit.
MILWAUKEE — Spaces has signed a 43,000-square-foot office lease at 1433 N. Water St. in downtown Milwaukee. This will be the first Milwaukee location for the co-working company. The fourth- and fifth-floor space will feature a business club, private offices and desks. Members will also have access to a rooftop patio, meeting rooms and other amenities. A project of Wangard Partners, the 115,600-square-foot property is a redevelopment of the former Laacke & Joys building. John Mazza and Alyssa Geisler of CBRE represented Wangard Partners in the lease transaction. Michael Streit and Patrick Savoie of JLL represented Spaces.
INDIANAPOLIS — Walker & Dunlop Inc. has arranged a $17.3 million loan for the construction of Oasis at 56th in Indianapolis. The 124-unit affordable assisted living facility will be located on three acres at 4940 W. 56th St. The property will feature 73 one-bedroom units and 51 studios. Amenities will include a dining area, exercise room, café and laundry facilities. Jeff Lawrence and Matt Baptiste of Walker & Dunlop arranged the 40-year HUD loan on behalf of the borrower, Integral Community Development.
TOLEDO, OHIO — Hunt Mortgage Group has provided a $9.7 million Freddie Mac loan for the acquisition of Jamestown of Toledo Apartments. Constructed in 1965, the 204-unit multifamily property comprises 19 buildings. The property features a mix of one-, two- and three-bedroom units. Jamestown Apartments 17 LLC, an entity fully owned by Watermark Partners Fund IV LLC, was the borrower. Watermark is a Michigan-based firm that owns and operates multifamily properties throughout the Midwest.
