Property Type

Maplewood Senior Living Breaks Ground on Seniors Housing Community in Connecticut

by Amy Works December 20, 2017

SOUTHPORT, CONN. — Maplewood Senior Living has started construction of Maplewood at Southport, a 98-unit assisted living and memory care community in Southport, located between Hartford and New York City. Maplewood is building the 93,000-square-foot community on a 27-acre plot. Stein Troost Architecture of Norwalk is the architectural firm on the project. Milone & McBroom of Cheshire will serve as the landscape architects, with Landtech of Westport as civil engineers and KBE Building Corporation of Farmington as the construction manager. The project is scheduled to open in 2019. Based in nearby Westport, Maplewood currently owns and operates 15 communities in Connecticut, Massachusetts and Ohio. The company is expanding to New Jersey and has a high-profile project under construction on the Upper East Side of Manhattan.

December 20, 2017

Loans Maine Multifamily Northeast Seniors Housing

Lancaster Pollard Arranges $15.3M Bridge Financing for Assisted Living Community in Portland, Maine

by Amy Works December 20, 2017

PORTLAND, MAINE — Lancaster Pollard has arranged $15.3 million in bridge financing for Portland Center for Assisted Living, an 85-unit assisted living and memory care community in Portland. The borrower is First Atlantic Healthcare Corp., which sought to refinance existing debt. The financing will also fund repairs and reserves for the property, which was built in 1964. Aaron Becker led the transaction for Lancaster Pollard.

December 20, 2017

Industrial Texas

HFF Arranges Sale of 301,500 SF Industrial Facility in Fort Worth

by Taylor Williams December 20, 2017

FORT WORTH, TEXAS — HFF has arranged the sale of Riverbend West Distribution Center, a 301,500-square-foot, Class A industrial facility in Fort Worth. Completed in 2016, the cross-dock facility features 32-foot clear heights, LED warehouse lighting, 76 overhead dock doors and four drive-in doors. Hunt Southwest Real Estate Development sold the property, which was 86 percent leased to Ecolab and PODS at the time of sale, to Pure Industrial Real Estate Trust for an undisclosed price. Adam Herrin and Stephen Bailey of HFF led the investment advisory team.

December 20, 2017

Restaurant Retail Texas

Signorelli to Welcome Nine Restaurants to Houston’s Valley Ranch Town Center by Summer 2018

by Taylor Williams December 20, 2017

HOUSTON — Signorelli Co., the developer of the 240-acre Valley Ranch Town Center (VRTC) mixed-use development in northeast Houston, will welcome nine new restaurants to its tenant roster by summer 2018. Breakfast and lunch eatery The Toasted Yolk Café and frozen yogurt franchise Menchies are both scheduled to open in the spring of 2018, along with a third location at VRTC for Italian restaurant Pizza Cucinova. Japanese restaurant Airi Poke and Ramen is slated to open next summer. Other dining options opening soon include Gringo’s Mexican Kitchen, Buffalo Wild Wings, RC’s NYC Pizza & Pasta, Shogun Japanese Grill & Sushi Bar and Schlotzky’s.

December 20, 2017

Office Texas

Colvill Secures Two Office Leases Totaling 43,864 SF in Houston

by Taylor Williams December 20, 2017

HOUSTON — Colvill Office Properties has secured two leases totaling 43,864 square feet at Galleria Office Tower 1, a 493,456-square-foot, Class A building in Houston. Accounting firm BKD LLP leased 29,960 square feet and recruiting firm Lucas Associates Inc. leased 14,174 square feet. Brad Beasley and Win Haggard of Colvill Office Properties represented the landlord, a partnership between Azrelli Group and Unilev Capital Corp., in both lease negotiations. Lucian Bukowski and Nicholas Bockhorn of CBRE represented BKD; Bill Boyer and Collin Grimes, also of CBRE, represented Lucas Associates.

December 20, 2017

Retail Texas

H-E-B to Open Store in Metro Fort Worth in 2019

by Taylor Williams December 20, 2017

HUDSON OAKS, TEXAS — Texas-based grocer H-E-B will open a new store in Hudson Oaks, a western suburb of Fort Worth, in 2019. The store will be located at the corner of U.S. Highway 180 and Hudson Oaks Drive. The Hudson Oaks store, the size of which has not yet been determined, will be the company’s fourth location in North Texas.

December 20, 2017

Office Texas

SVN Trinity Brokers Sale of 40,288 SF Office Building Near Fort Worth

by Taylor Williams December 20, 2017

HURST, TEXAS — SVN Trinity Advisors has brokered the sale of a 40,288-square-foot office building located at 1550 Norwood Drive in Hurst, a northeastern suburb of Fort Worth. Steve Fithian and Clint Montgomery of SVN Trinity represented the seller, AREI LLC, in the transaction. John Fegan of Compass Realty represented the buyer, 1550 Norwood LLC. The multi-tenant building was constructed in 1985.

December 20, 2017

Midwest Missouri Mixed-Use

St. Louis Cardinals, Cordish Cos. Break Ground on $260M Second Phase of Ballpark Village in St. Louis

by Kristin Harlow December 20, 2017

ST. LOUIS — The St. Louis Cardinals and The Cordish Cos. have broken ground on the $260 million second phase of Ballpark Village. The 700,000-square-foot mixed-use expansion project will complete a full build-out of Clark Street. New buildings will be constructed on both the east and west sides of the existing Phase I development. A new street, running from 8th to Broadway streets, will be called Cardinal Way. On the east end of Cardinal Way will be a 29-story luxury residential tower called One Cardinal Way. On the west end will be a Class A office building, anchored by PricewaterhouseCoopers, and a convention hotel, Live! by Loews-St. Louis. In addition, a three-story retail pavilion just north of the existing Busch II Infield and event plaza will connect everything together. This glass pavilion will be anchored by a 31,000-square-foot Onelife Fitness. Designed by Hord Coplan Macht, the 29-story One Cardinal Way will feature 297 apartment units and 10,000 square feet of restaurant and retail space on the first floor. The building will also feature 25,000 square feet of amenity space, including an infinity edge pool, demonstration kitchen, club room, entertainment room, fitness center and conference room. Designed jointly by HKS Architects, HCM and Tao & …

December 20, 2017

Hospitality Kansas Midwest

Choice Hotels to Acquire WoodSpring Suites Brand and Franchise Business for $231M

by Kristin Harlow December 20, 2017

WICHITA, KAN. — Choice Hotels International Inc. (NYSE: CHH) has reached a definitive agreement to acquire the brand and franchise business of WoodSpring Suites from WoodSpring Hotels Holdings LLC, a portfolio company of Lindsay Goldberg, for approximately $231 million. The acquisition will add nearly 240 extended-stay hotels in 35 states to the Choice Hotels portfolio, creating an extended-stay portfolio of more than 350 properties with existing brands MainStay Suites and Suburban Extended Stay. Wichita, Kansas-based WoodSpring Hotels is an extended-stay hotel company, with nearly 240 properties in 35 states nationwide. Over the past few years, the company has executed a brand relaunch and repositioning, resulting in WoodSpring Suites unit growth of more than 25 percent and franchise fee revenue growth of 45 percent in the last three years, according to Choice Hotels. More than 25 Woodspring hotels are expected to open in 2018. The transaction is expected to close in the first quarter of 2018. Moelis & Co. LLC is serving as financial advisor to Choice Hotels on the transaction, while Willkie Farr & Gallagher is serving as legal advisor. Morgan Stanley & Co. LLC is serving as financial advisor to WoodSpring, while Weil, Gotshal & Manges LLP is serving as legal advisor. Lindsay …

December 20, 2017

Midwest Missouri Retail

Knoebel Completes Construction of $54M Shopping Mall in St. Peters, Missouri

by Kristin Harlow December 20, 2017

ST. PETERS, MO. — Knoebel Construction has completed The Shoppes at Mid Rivers in St. Peters, a suburb of St. Louis. The project is the largest mall to be built in St. Charles County since 2008. The 270,000-square-foot shopping center includes 14 buildings on 28 acres just north of I-70. Academy Sports + Outdoor, Burlington, Marshalls, Home Goods, Ulta Beauty, OshKosh B’gosh, Five Below, Famous Footwear and Aspen Dental have opened at the property. Ross Dress for Less, Sleep Number, Sprint and World Financial are slated to open in early 2018. Approximately 50 subcontractor companies worked on the project. The shopping center will employ 750 full- and part-time employees, according to developer GBT Realty Corp.

December 20, 2017

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