HOUSTON — Poynter Commercial has secured five office leases totaling 40,000 square feet at a 325,000-square-foot office building located at 11700 Katy Freeway in Houston. The two largest leases include Enterprise Offshore Drilling LLC taking 12,629 square feet and Helm U.S. Corp. taking 9,637 square feet. Kevin Poynter and Peyton Poynter of Poynter Commercial represented the landlord, FSP Energy Tower I Ltd., the lease negotiations with Enterprise Offshore Drilling. Kevin Poynter also represented the landlord in the lease negotiations with Helm U.S. Sean Durkin of The J. Beard Real Estate Co. represented Helm U.S.
FAIRFAX, VA. — HFF has arranged $115.4 million in construction financing for Scout on the Circle, a 551,000-square-foot residential and retail project in Fairfax, roughly 20 miles west of Washington, D.C. Susan Carras, Walter Coker, Brian Crivella, John Owendoff and Jordan Lex of HFF arranged a $100 million floating-rate loan and $15.4 million in preferred equity on behalf of the developer, Washington, D.C.-based Combined Properties Inc. Scout on the Circle will feature a 54,000-square-foot, single-story grocery store, two five-story apartment towers totaling 400 units and 29,000 square feet of ground-floor retail. Apartment units will feature stainless steel appliances, quartz countertops, plank flooring and private outdoor terraces or balconies. Community amenities will include a coffee bar, business center, clubroom, screening room, pool table, fitness center, dog park and two outdoor courtyards with a swimming pool, grilling areas, shuffleboard and a ping pong table. The transit-oriented property will be located one mile from the Vienna Metrorail station and less than four miles from George Mason University’s campus. Combined Properties expects to complete Scout on the Circle in 2021.
NEWPORT NEWS, VA. — Walker & Dunlop has provided a $34.4 million loan through the United States Department of Housing and Urban Development (HUD) for the refinancing of Meridian Parkside, a 308-unit multifamily community in Newport News in Virginia’s Hampton Roads region. Hal Reinauer, Tom Toland and Chris Rumul of Walker & Dunlop worked with HUD’s Baltimore office to originate the 35-year HUD 223(f) loan on behalf of the borrowers, Bonaventure Realty Group and Phillip Roper III. The partnership originally acquired the property in 2016. Constructed in 2008, Meridian Parkside offers one- to three-bedroom units and features a 24-hour fitness center, business center, game room, grilling stations, resort-style pool and a sundeck. Section 223(f) insures mortgage loans to facilitate the purchase or refinancing of existing multifamily housing.
MIAMI — Houston-based developer Morgan, in conjunction with Mesirow Financial, has opened Midtown 29, a 309-unit apartment tower located at 180 N.E. 29th St. in Midtown Miami. Designed by Stantec, the community is situated at the entrance to the 645,000-square-foot The Shops at Midtown Miami. Wells Fargo provided construction financing for the 20-story project, which comprises studio to three-bedroom units, averaging 837 square feet. The seventh floor amenity deck features a resort-style swimming pool with private cabanas, an outdoor bar, grilling stations and a fitness center with a yoga/spinning studio. The development also includes 12,000 square feet of ground-floor retail and an adjacent six-story parking garage. In addition to delivering Midtown 29, Morgan plans to open the 350-unit Pearl Flagler Village in Fort Lauderdale at the end of the year.
CHARLOTTE, N.C. —CBRE has arranged a 41,716-square-foot lease for Curvature, an IT support, products and services provider, at Coliseum Centre Five in Charlotte’s Airport submarket. Curvature will move its global headquarters to the 152,000-square-foot, six-story building in the second quarter, relocating from its current location at 10420 Harris Oaks Blvd. in north Charlotte. The company will occupy the entire sixth floor and most of the fifth floor. Joe Franco and Stephanie Spivey of CBRE arranged the lease on behalf of the landlord, Americas Capital Partners. Colin Reed, Mary Ayers and Virginia Luther of Savills Studley represented Curvature. Coliseum Centre Five — part of a master-planned, six-building office park — is located less than five miles from Charlotte Douglas International Airport and within walking distance to more than 30 restaurants and shops. Americas Capital Partners is currently underway on renovations to the property, including a new fitness center and conference facility.
JACKSON, TENN. — Peachtree Hotel Group (PHG) has opened the 98-room Hilton Garden Inn Jackson, located at 1324 Vann Drive in Jackson. The city serves as a regional hub for five major transportation companies, including FedEx, UPS and Old Dominion. The hotel features a heated outdoor swimming pool, 24-hour fitness center, complimentary breakfast, convenience store and hotel dining at the Garden Grille & Bar. In addition, the hotel includes 2,300 square feet of flexible event space and a boardroom for smaller meetings of up to 12 people.
LAS VEGAS — Vestar has acquired Best in the West, a 465,000-square-foot shopping center in Las Vegas. The price was $87 million, according to The Las Vegas Review-Journal. Bryan Ley and Jules Sherwood of HFF arranged the transaction on behalf of the seller, Weingarten Realty Investors. At the time of sale, Best in the West was 94 percent leased to tenants such as Best Buy, T.J Maxx, Stein Mart, PetSmart, DSW, Bed Bath & Beyond, JoAnn Fabrics, Office Depot, Ulta Beauty, Old Navy and Marshalls.
SANTA CLARITA, CALIF. — Colliers International has facilitated the sale of a retail center located at 23300-23314 Valencia Blvd. in Santa Clarita. A private investor acquired the property, situated on 3.5 acres, from DP Santa Clarita LLC for $9.8 million. Built in 1973 and renovated in 2012, the 45,429-square-foot property is fully leased to 99 Cents Only and Harbor Freight Tools. David Maling and Chris Maling of Colliers represented the seller in the transaction.
LOS ANGELES — Charles Dunn Co. has arranged the sale of a retail and industrial building located at 437-441 S. Los Angeles St. in downtown Los Angeles. JVS Real Estate Investment purchased the property from 441 Los Angeles Street LLC for $3.7 million. The buyer plans to renovate the vacant, three-story, 15,538-square-foot building for its retail and wholesale business. Chris Runyen of Charles Dunn Co. represented the seller, while interPres Realty represented the buyer in the deal.
VAN NUYS, CALIF. — Marcus & Millichap has brokered the sale of a retail property located at 6650 Van Nuys Blvd. in Van Nuys. An individual/personal trust sold the property to a private investor for $1.4 million. The property features 6,253 square feet of retail space. Brandon Michaels and Justin Rappel of Marcus & Millichap represented both the seller and buyer in the deal.