ALMA, MICH. — Lamb Net Lease LLC has brokered the sale of a net leased Walgreens pharmacy in Alma in central Michigan for $5.8 million. The 14,820-square-foot property is located at 1420 Wright Ave. The buyer, Riverlawn Properties LLC, completed the deal as part of a 1031 exchange. Joe Patti of Roaring Fork Holdings LLC represented the buyer. Mike Lamb of Lamb Net Lease represented the seller, Retail Development Inc.
COLLEGE STATION, TEXAS — Midway Cos. has opened 100 Park, a 21-and-older luxury apartment community located within Century Square, a mixed-use property in College Station. Situated steps from the campus of Texas A&M University, the property is a residential option for professors, faculty and area professionals. The four-story property features 249 units in a mix of studio, one- and two-bedroom floorplans. On-site amenities include a fitness facility, social lounge and business center with complimentary coffee and Wi-Fi, community pool with outdoor dining and grills and a pet-friendly common green gathering area. Project partners include Mayfield and Ragni Studio, aka MaRS, and STG Design. Century Square is a 200,000-square-foot public-private collaboration between Midway and Texas A&M University.
PHILADELPHIA — TD Bank has invested a total of $20.6 million to convert the long-vacant Spring Garden School in Philadelphia into a 49-unit affordable community for seniors and homeless veterans. The investment includes $11.6 million in tax credit equity and a $9 million construction loan. When completed, the conversion will offer 37 units for low-income seniors and 12 units for homeless veterans. Spring Garden School was built in 1927 and added to the National Register of Historic Places in 1986. The property has been vacant for nearly 40 years. The project will include restoring the interior and exteriors of the building, while intentionally preserving some of the graffiti. HELP USA, a national homeless service provider and low-income housing developer, is developing the project.
NEW YORK CITY — Bestreich Realty Group has brokered the sale of a 38-unit five-building assemblage of multifamily properties located at 255-265 Linden St. in Brooklyn’s Bushwick neighborhood. Linden Street Group acquired the properties from Excelsior Equities for $9.5 million. The assemblage comprises four contiguous eight-unit properties and one six-unit property. The buyer plans to hold the property and maximize value. Derek Bestreich, Luke Sproviero, Steve Reynolds of Bestreich represented the buyer and seller in the deal.
MORRISTOWN, N.J. — NAI James E. Hanson has arranged the acquisition of a 22,000-square-foot retail property located at 110 Washington St. in Morristown. E&H Members LLC acquired the property, which is occupied by Whole Foods Market, for an undisclosed sum. Scott Perkins, Greg James and Chris Todd of NAI Hanson represented the buyer in the deal. The name of the seller was not released.
HOUSTON — McCord Development has topped out 250 Assay St. in Houston, the first multi-tenant office building in Generation Park’s lifestyle district, Redemption Square. The five-story building will feature 86,523 square feet of space, including 15,000 square feet of ground-level retail and restaurant space. Announced tenants include Apache Industrial Services and McCord Development, which will both relocate their corporate headquarters to the building. The property, which was designed by Page Southerland Page Architects in partnership with McCord, is slated for delivery in June 2017. E.E. Reed is serving as the general contractor for the building.
FRISCO, TEXAS — McCathern PLLC has signed a 10-year lease of office space at The Star in Frisco, the new Dallas Cowboys World Headquarters and Training Facility. The law firm will occupy 5,673 square feet at One Cowboys Way. Scott Hobbs and Michelle Donaldson of CBRE represented the tenant, while Jack Young of Lincoln Property Co. represented the landlord, Frisco HQ Operations, in the lease negotiations. McCathern currently has offices in Dallas, Houston and Los Angeles.
HOUSTON — NAI Partners has arranged the acquisition of an office space located on Richmond Avenue in Houston’s Montrose neighborhood. Rob Wiley P.C. purchased the 2,600-square-foot space from WT MAGS LLC for an undisclosed price. Dan Boyles Jr. and Michael Mannella of NAI Partners represented the buyer, while Jane Brennan-Martin of Carnan Properties represented the seller in the deal.
SHELBURNE, VT. — Nedde Real Estate has arranged an office lease at 181 Falls Road in Shelburne. NorthEast Estates and Trusts PLLC and Law Office of Richard J. Fox will occupy 955 square feet at the property. The lease will begin in January 2017 and expire in two years. Fernando Cresta of Nedde Real Estate arranged the lease transaction. The landlord is LaPlatte Partnership.
FAIRFAX, VA. — AIG Investments has provided a $72 million loan for the refinancing of Plaza at Landmark, a 437,299-square-foot, grocery-anchored regional power center located at 6244 Little River Turnpike in Fairfax. Cary Abod and Dana Brome of HFF arranged the 18-year, fixed-rate loan on behalf of the borrower, Landmark HHH LLC. Plaza at Landmark was 98.2 percent leased at the time of financing to tenants such as Shoppers, Marshalls, Ross Dress for Less, LA Fitness, Total Wine & More, Dollar Tree, Verizon Wireless, DFurniture Galleries, BB&T, Five Below, Gamestop and Chipotle Mexican Grill.