BEAUMONT, TEXAS — Chicago Pacific Founders (CPF) has acquired Collier Park Senior Living, a 159-unit seniors housing community in Beaumont. The property is located near downtown Beaumont’s shopping, dining and medical offerings. Collier Park’s amenities include a pool, game room, fitness center, library, courtyards with walking paths and a beauty salon. CPF acquired the property from an undisclosed seller through its operating subsidiaries, CPF Living Communities and Grace Management Inc.
VIRGINIA BEACH, VA. — Stihl Inc., a Virginia Beach-based manufacturer of handheld outdoor power equipment, has celebrated the groundbreaking of its new $25 million, 80,000-square-foot office building in Virginia Beach. The company is the U.S. operations arm for German parent company Stihl Group. The property is located at the site of the company’s existing headquarters, which totals more than 1 million square feet. Hourigan Construction is the general contractor for the project, and HBA Architecture Interior Design is the lead architect. Creative Development Partners (CDP) is representing Stihl as the owner’s representative. The new administration space will include a Stihl museum and customer welcome center. In addition, the project will include improvements to an outdoor demonstration area for hands-on training, enhancements to the entry guardhouse and updates to traffic flow and security at the main gate. The expansion will replace the former 21,000-square-foot administration building, which was razed to make way for the new facility. The new building and other campus improvements are slated for completion in mid-2019.
ORLANDO, FLA. — Ability Housing, in conjunction with the City of Orlando, has started construction of Village on Mercy, a 166-unit affordable housing project located along Mercy Drive in Orlando. The Florida Housing Finance Corp., Bank of America NA, Enterprise Community Investment Inc. and the Corporation for Supportive Housing (CSH) provided funding for the $27.4 million project. The community will be certified by the Florida Green Building Coalition and will feature a community center, playground, fitness trail and recreation space along Lake Lawne. All of the apartments will be reserved for residents earning 60 percent or less of the area median income (AMI), and half of the units will provide housing for formerly homeless individuals and families. Construction on the project is expected to last 18 months. Ebert Norman Brady Architects is the architect for Village on Mercy, and Sauer Inc. is the general contractor.
CHARLOTTE, N.C. — Franklin Street has brokered the $5.8 million sale of City View Shopping Center, a 77,550-square-foot retail property located at 1526 Alleghany St., roughly two miles from Uptown Charlotte. John Tennant and Bryan Belk of Franklin Street arranged the transaction on behalf of the seller, City View of N.C. LLC, and the buyer, Dinalli LLC. The buyer plans to hold the asset as a long-term investment. American Freight Furniture and Mattress and Measurement Inc. anchor the center, which was formerly home to a Winn-Dixie.
FLORENCE, S.C. — An 8,500-square-foot Five Below and a 20,000-square-foot HomeGoods will join the tenant mix at PREIT’s Magnolia Mall in Florence. The first-to-region retailers join Burlington, which opened in 2017, backfilling the space formerly occupied by Sears. In addition to these openings, H&M will open later this year, Chick-fil-A is expanding its location to include indoor seating and Texas Roadhouse will lease an outparcel location at the mall. PREIT has also renewed a 10-year lease with Belk, which will undergo a store remodel. Philadelphia-based real estate investment trust PREIT owns and operates more than 22.5 million square feet of retail space located primarily in the eastern United States.
HOUSTON — United General Hospital has signed a 44,569-square-foot medical office lease within the Texas Medical Center in Houston. The healthcare provider will operate out of 7501 Fannin, a 195,000-square-foot, Class A building that was completed in 2004. Zach Leger, Jacob Aldridge and Rani Jones of NAI Partners represented the landlord, Cambridge Properties, in the lease negotiations. David Greenberg of Greenberg & Co. represented United General Hospital.
ATLANTA —Vero Biotech has opened a new 15,585-square-foot headquarters at the Georgia Institute of Technology’s Technology Enterprise Park in Atlanta. The biopharmaceutical company, formerly known as GeNO LLC, designs, develops and commercializes products for patients with pulmonary and cardiac diseases. Vero Biotech will move its administrative, research & development and manufacturing departments from its current office in Cocoa, Fla., to the new space over the next six to 12 months. The company plans to double its operations, hiring up to 40 new employees over the next year. In addition, Vero Biotech will partner with Georgia Tech to provide hands-on experience and internship opportunities for students. Chad Koenig and Ben Jackson of Cushman & Wakefield represented Vero Biotech in the lease negotiations, and Enio Guerra and Dick Bowers of Richard Bowers & Co. represented Georgia Tech.
FORT WORTH, TEXAS — Pinstripes, a Chicago-based food and entertainment concept, will open a 30,000-square-foot, two-story bowling alley and restaurant in Fort Worth. Located within The Shops at Clearfork on the city’s southwestern side, the venue will feature 12 bowling lanes, six bocce ball courts and private event space. Larry Leon of Venture Commercial represented Pinstripes in the lease negotiations. This location will be the company’s ninth in the country and first in Texas.
SAN JOSE, CALIF. — Pacific Retail Capital Partners (PRCP) has reopened Eastridge Center, a 1.4 million-square-foot mall in San Jose. The redevelopment of the property includes a full interior remodel, new family areas, a new look for the food court, vehicle charging stations, new entrances, community gathering spaces and four exterior murals by local artists. Eastridge Center is home to tenants such as Macy’s, JCPenney, Red Robin, a 15-screen AMC IMAX Theater, Round 1 Bowling & Amusements, H&M, Victoria’s Secret and Forever 21 RED.
LACEY, WASH. — Shelter Resources has acquired the 164-unit College Glen Apartments in Lacey for $19.3 million. The community is located at 4870 55th Lane SE. It was built in1996. College Glen is a low-income housing tax credit property. The community contains a playground, community center and indoor sports court. The seller was College Glen Apartments LP. Kidder Mathews brokered the transaction.
