NEWTOWN, CONN. — Senior Lifestyle Corp. has broken ground on Church Hill Village, a 71-unit assisted living and memory care community in Newtown, located approximately midway between New York City and Hartford. The community will feature 49 assisted living apartments and 22 memory care apartments. The 66,000-square-foot building will be situated on four acres. Development partners for the project include Teton Capital Co. and JRP Architects. The community is scheduled to open in summer 2019.
MERIDEN, CONN. — Pennrose has opened Meriden Commons I, a 75-unit multifamily community in Meriden. The community is the first of a two-phase transit oriented development that will bring 151 mixed-income apartment units and more than 6,500 square feet of retail space to the City of Meriden. Once completed in the fall of 2019, Meriden Commons II will consist of 76 mixed-income apartments. Located at 161 and 177 State St., Meriden Commons I and II are within close proximity to downtown Meriden and Meriden’s Amtrak Center.
NEW YORK CITY — Cushman & Wakefield has negotiated the $1.6 million sale of a multifamily building in the Jackson Heights neighborhood of Queens. Stephen R. Preuss, Denise Prevete and Kevin Louie of Cushman & Wakefield represented the seller, Tina M. Ng & Katherine Y. Ng, in the transaction. The buyer was Harry Otterman. Located at 35-15 72nd St., the three-story property consists of six units. Recent upgrades to the building include an updated roof, and boiler within the past four years.
ATLANTA — Gateway Ventures and Atlantic Capital Partners have unveiled plans to develop 8West, a mixed-use project located at the corner of Howell Mill Road and 8th Street in Atlanta’s West Midtown district. The project will include 175,000 square feet of office space, 10,000 square feet of retail developed in collaboration with Cartel Properties, 264 apartment units developed by Trammell Crow Residential and a 680-space parking garage. Existing retailers fronting 8West will be integrated into the project, including Bocado, Bartaco, Arden’s Garden and A Ma Maniere. In addition, the project will feature a 4,000-square-foot, west-facing art wall. The project developers will partner with Hathaway Gallery to engage local artists through an outreach program for both public art and building artwork. The nine-story development will feature outdoor terraces with 360-degree views of the city, a fitness center, bike storage, common collaborative spaces and conference facilities, an outdoor public plaza and podcast recording rooms. Harvest Capital Group and Ellis, McQuary & Stanley are the project’s equity investors. BL Harbert International is the general contractor, and MSTSD and ASD/Sky are the architects. Stephen Clifton and Zach Wooten of PMRG are handling the project’s leasing assignment. Gateway and Atlantic Capital expect to wrap up …
SAVANNAH, GA. — Jacksonville, Fla.-based Chesterfield is underway on a three-building, 1.8 million-square-foot industrial project at the Savannah River International Trade Park, located less than six miles from the Port of Savannah. The Georgia Ports Authority selected Chesterfield to develop the site in late 2017. The total development cost is valued at $100 million. The project includes Lot A, a 1.3 million-square-foot facility for JLA Home, a designer, manufacturer and supplier of home furnishings; Lot B, a warehouse under construction for Averitt Express, a supply chain management company; and Lot C, a 420,000-square-foot speculative, cross-dock facility. Stonemont Financial Group is Chesterfield’s capital partner for the project, which is scheduled for completion in March 2019. Thomas & Hutton is the civil engineer for the entire site. For Lots A and C, Wakefield Beasley Architects is the architect, and Omega Construction is the general contractor.
RALEIGH, N.C. — Canyon Partners Real Estate LLC has provided a $16.9 million preferred equity investment to Kane Realty Corp. for the development of Vine North Hills, a 326-unit apartment community in Raleigh’s North Hills submarket. Located on four acres along St. Albans Drive, Vine North Hills is the first phase of the 33-acre, multi-phased North Hills East Expansion. The community will feature a mix of studio to three-bedroom apartment units with quartz countertops, stainless steel appliances, glass walk-in showers and private balconies. Community amenities will include a clubhouse with hospitality kitchen, lounge and game rooms, fitness center, saltwater pool, grills, fire pits, dog washing facility, a bike center and storage units. A construction timeline was not disclosed.
HOLLYWOOD, FLA. — Cushman & Wakefield has arranged the $11.5 million sale of Hollywood Medical Office Building, a 57,815-square-foot facility located on the Memorial Regional Hospital South campus in Hollywood. Scott O’Donnell, Greg Miller, Dominic Montazemi, Miguel Alcivar, Jason Hochman and Donna Kom of Cushman & Wakefield arranged the transaction on behalf of the seller, Miami-based SF Partners. A private real estate investor acquired the asset. The five-story building was constructed in 1975 and was 84 percent leased at the time of sale to tenants such as Oncology Associates of South Florida, Pinnacle Healthcare System, Reyes & Reyes MD, Internal Medicine Specialty and HealthCare Support Administrators.
SMYRNA, GA. — Accesso Partners LLC has sold 7100 Highlands Parkway, a 150,000-square-foot office building in Smyrna, roughly 14 miles northwest of downtown Atlanta. Exeter Property Group acquired the asset for an undisclosed price. Completed in 1997, the single-story building was designed for IBM Corp. as its Atlanta call center. The technology company still occupies the building as its sole tenant. Jay O’Meara of CBRE arranged the transaction on behalf of Accesso.
PHOENIX — Irwin G. Pasternack AIA + Associates PC (Pasternack + Associates) is developing TEN Distribution Center 1, a $300 million, 3.6 million-square-foot industrial park in Phoenix. Graycor Construction Co., serving as general contractor, has lifted and secured 68 of the 182 concrete panels that will make up the 1.1 million-square-foot first-phase building at the park. The concrete tilt panels are all prepared and cast on site by Graycor, which started roofing and fire sprinkler install sequencing this month. Additionally, the company has completed the first portion of the roof structure along with the installation of a 1.5-mile water main. The final panel lift, completing the east side of the building, is scheduled for mid-August. Completion of the first building is slated for December. When completed, TEN Distribution Center 1 will offer modern, cross-docked industrial space, 40-foot clear heights and high-volume trailer storage. The master plan for the industrial park totals more than 3.6 million square feet across six Class A industrial buildings ranging from 175,000 square feet to 1.1 million square feet and 15 retail, restaurant and service tenants.
LACEY, WASH. — HFF has secured an undisclosed amount of financing for The MARQ on Martin, a multifamily community located at 8545 Litt Drive SE in Lacey. Security Properties, the borrower, used the loan to acquire the property, which was completed earlier this year. Charles Halladay, Scott Gilson and Robert Bova of HFF arranged a 10-year, fixed-rate loan with five years of interest-only payments through Freddie Mac for the borrower. HFF will service the securitized loan. The MARQ on Martin features 248 units in a mix of studio, one- and two-bedroom layouts offering stainless steel appliances, in-unit washers/dryers, and walk-in closets. Community amenities include a swimming pool, spa, sundeck and lounging area, courtyard with fire pit and ping pong table, an outdoor grilling and dining area, a 24-hour fitness center, and a clubhouse with fireplace, billiards and entertainment kitchen.