FLORHAM PARK, N.J. — Concordia Care Inc. has signed a 12,494-square-foot lease at 25 Hanover Road Corporate Center in Florham Park. Peter Shikar of CBRE arranged the transaction on behalf of property owner, The Silverman Group. At 134,458 square feet, 25 Hanover Road Corporate Center is located approximately 16 miles west of Newark. The Silverman Group recently completed capital improvements that included a new fitness center, conference center, a new café and renovated common areas.
CAMBRIDGE, MASS. — Nauset has started construction on additions to Crimson Galeria in Cambridge that will add 18,000 square feet of office space to the mixed-use property. Located at 57 JFK St. in Harvard Square, the redevelopment is being undertaken by Needham, Mass.-based Nauset Construction for owner Crimson Galeria LP. The Harvard Square submarket of Cambridge is experiencing lows of less than 2 percent in office vacancy, according to Nauset.
HUNTERSVILLE, N.C. — Trez Forman Capital Group has provided a $42 million construction loan for a new 297-unit apartment community located at 17355 Old Statesville Road in Huntersville, roughly 15 miles north of Charlotte. Brett Forman of Trez Forman originated the loan on behalf of the project developer, Caldwell Station NC LLC. The 20-building community will include a mix of garden-style apartment units and for-rent townhomes. Community amenities will include a saltwater pool, clubhouse, fitness center, lounge area and a dog park. A construction timeline for the project was not disclosed.
DORAL, FLA. — Trammell Crow Residential, in partnership with AvalonBay Communities Inc., has unveiled plans to develop a 350-unit apartment community located at the corner of N.W. 36th Street and N.W. 79th Avenue in Doral, roughly 16 miles northwest of Miami. The residences will be part of a horizontally integrated mixed-use development that will feature 80,000 square feet of retail, which is under development by the Terra Group. The site currently houses the 139,000-square-foot Atrium Office space. Demolition of the property is scheduled for later this month. The community will include a mix of one- to three-bedroom apartment units and will feature a pool, park and bike path. Trammell Crow and AvalonBay expect to wrap up construction in 2020.
CHARLOTTE, N.C. — NorthMarq Capital has secured a $28 million construction loan for a new EVEN Hotel in Charlotte’s Central Business District. Mark Ebersold of NorthMarq arranged the financing through a local bank and a New York-based mezzanine lender on behalf of the borrower. According to local media reports, Mayfair Street Partners acquired the hotel site in 2017 with plans to develop the 176-room property. The hotel is part of Stonewall Station, a mixed-use project under development by Crescent Communities. The development includes a Whole Foods, 458 multifamily units, a 1,350-space parking deck and a 180-room Home2Suites hotel. A construction timeline for the EVEN Hotel was not disclosed. EVEN Hotels is an InterContinental Hotels Group brand.
ROGERS, ARK. — CBRE has arranged the sale of a 17-acre parcel of land located at 5911 W. Myers Ranch Blvd. in Rogers, roughly eight miles southeast of Bentonville. David Erstine of CBRE arranged the transaction on behalf of the buyer, Venture Park LLC, which acquired five of the six available lots for the development of Class B office/flex space. A separate party acquired the sixth lot for the development of a restaurant. The land, formerly known as Myers Ranch, will be rebranded as Venture Park. The office/flex space will range from 20,000 to 60,000 square feet and will offer open, collaborative workspaces. A construction timeline for the project was not disclosed.
DELRAY BEACH, FLA — NKF Capital Markets has arranged the $9.8 million sale of a 32,987-square-foot medical office building located at 4675 Linton Blvd. in Delray Beach. Adam Greenberg, Michael Lapointe and Michael Lohmann of NKF Capital Markets arranged the transaction on behalf of the seller, Delray Outpatient Properties LLC. Flagler Investment Healthcare LLC acquired the asset. The two-story, Class A building was constructed in 2005 and was 75 percent leased at the time of sale. ASC, an affiliate of Tenet Health, occupies approximately 10,000 square feet at the building. Additional tenants include South Palm Gastro Health, Total Vein & Skin Dermatology and the South Florida Gastro Association. The building is located across from Delray Medical Center, a 493-bed acute care hospital that serves the southern Palm Beach County region and staffs roughly 1,600 employees and 600 doctors.
CHICAGO — Baker Development Corp. has completed ELEVATE Lincoln Park located at 930 W. Altgeld St. in Chicago. The 11-story luxury apartment building includes 191 units. The property features a pool, grill area, demonstration kitchen, fitness center and dog run. Floor plans include studios, one- and two-bedroom units, as well as penthouse units. Monthly rents start at $1,985.
HUTCHINSON, MINN. — Kraus-Anderson has completed a $2.1 million expansion for Hutchinson Health. The 9,600-square-foot project includes a new 5,103-square-foot cancer center as well as a cardiac rehab area and on-call suites. The property is located at 1095 Highway 15 South in Hutchinson, about 60 miles west of Minneapolis. Designed by Wold Architects and Engineers, the expansion triples the size of the existing center and integrates all of Hutchinson Health’s cancer services into one location. The project includes three additional exam rooms, six infusion therapy rooms and a procedure room.
NORTH SAINT PAUL, MINN. — Marcus & Millichap has arranged the sale of Division Street Apartments in North Saint Paul for $1.5 million. The three-building apartment property is located at 2633 Division St. All of the property’s 21 units are one-bedroom units averaging 400 square feet. Evan Miller of Marcus & Millichap marketed the property on behalf of the undisclosed seller. He also procured the buyer.