BOSTON — Lena New Boston, a partnership between New Boston Fund and Lena Park Community Development Corp., is continuing its $200 million redevelopment of the former Boston State Hospital site with 41 additional two- and three-bedroom units of mixed-income townhomes at Olmstead Green, the first workforce housing/homeowners project in Boston funded by MassHousing’s Opportunity Fund, the Department of Neighborhood Development and the Neighborhood Housing Trust. The project’s overall master plan calls for 514 mixed-income rental and homeownership units. To date, Lena New Boston has completed 210 units of affordable housing and 19 units of homeownership townhouse at Olmstead Green. The first units in the latest phase will be delivered next month with the remaining units delivered in phases through April 2018. Eleven of the units will be priced at $210,000 for first-time homebuyers making at or below 80 percent of the area median income (AMI) and 11 of the units will be priced at $267,500 for first-time homebuyers making at or below 100 percent of AMI. The remaining 19 units will be sold at market rate, ranging between $320,000 to $360,000. Financing for the current phase, including an $8.3 million loan from a bank consortium of Eastern Bank and Boston Private …
MONTGOMERY, N.Y. — Meridian Design Build has completed the construction of a package sortation and distribution center located at 201 Neelytown Road in Montgomery for developer SunCap Property Group. Situated on 44.1 acres, the 248,370-square-foot facility was built for a leading provider of global shipping and information services. The facility features 63 loading docks, seven drive-in doors, 184 interior van loading positions, 451 auto parking stalls and 190 exterior trailer stalls. Cornerstone Architects provided architectural services, while Langan provided civil engineering work for the property.
NEW YORK CITY — Kamber Management Co. has entered into a contract to acquire the Riverside Garage portfolio of parking facilities on Manhattan’s Upper West Side for an $50 million. The 916-parking stall portfolio consists of three parking garages located at the base of five residential towers located at 80, 100-120 and 220-240 Riverside Blvd. The properties are fully leased to Icon Parking Systems, a garage operator in New York City. David Schechtman of Meridian Capital Group represented the undisclosed seller, while Steven Levy of Kamber Management represented the buyer in the deal.
ACTON, MASS. — Atlantic Management has completed the disposition of Powder Mill Plaza, a retail property located in Acton. Medipower acquired the shopping center for $16.3 million. Stop & Shop, Rite Aid, Anytime Fitness, DCU, Papa Gino’s and Dunkin’ Donuts, among other national retailers, occupy the 74,876-square-foot property. Geoffrey Millerd, Justin Smith, Paul Penman and Christopher Peterson of Newmark Knight Frank represented the seller in the deal.
SAN ANTONIO — Drever Capital Management, a Calif.-based holding company, will develop Larkspur at Live Oak, a 213-unit senior living community situated on 15 acres near Interstate 35 and Loop 1604 in San Antonio. Designed by Dallas-based Merriman Anderson/Architects Inc., the four-story property will offer units ranging in size from 691 to 1,221 square feet and an outdoor recreation space with a pool, kitchen and cabanas. A 64-unit memory care community is also being planned as a separate facility within the development. Construction is scheduled to begin later this year and wrap up in early 2019.
AUSTIN, TEXAS — HFF has arranged the sale of a two dual-branded hotel property located at 805 Neches St. and 810 Red River St. in Austin. The asset consists of the 134-room Hotel Indigo Austin Downtown and the 171-room Holiday Inn Express Austin Downtown University. Completed in 2016, the hotels share amenities such as an outdoor pool, bar and lounge and five levels of underground parking. John Bourret and Austin Brooks of HFF represented the seller, Journeyman Group, in the transaction. Nimes Real Estate purchased the property for an undisclosed price.
DALLAS — Warstic, a producer of baseball equipment partially owned by musician Jack White, will open its flagship location, manufacturing facility and headquarters at 2900 Main St. in the Deep Ellum area of Dallas. The property will include a warehouse, bat-fitting room, bat design studio, bar and restaurant and a full batting cage. The opening is scheduled for early 2018.
ARLINGTON, TEXAS — Lee & Associates has negotiated the sale of a 56,841-square-foot industrial property located at 1721 Susan Drive in Arlington. Mark Graybill and Colton Rhodes of Lee & Associates represented the seller, Package Express, in the transaction. Sean O’Grady of Caliber Property Group represented the buyer, CDI-RE Arlington.
HOUSTON — Marcus & Millichap has brokered the sale of Shotwell Shopping Center, a 32,390-square-foot retail center located at 5900 Lyons Ave. in Houston. Derek Hargrove, Justin Miller and Davis Hansen of Marcus & Millichap represented the seller, a Houston-based partnership, in the transaction. Gus Lagos and Nik Kapetanakis, also of Marcus & Millichap, procured the undisclosed buyer.
ATLANTA — San Diego-based OliverMcMillan has unveiled plans to build The Office Buckhead Atlanta, a 17-story, 330,000-square-foot office tower located at 300 E. Paces Ferry Road in Atlanta’s Buckhead district. Designed by San Francisco-based architect Gensler, the Class A building will feature 30,000 square feet of ground-level retail and restaurants. The office tower will be situated adjacent to The Shops Buckhead Atlanta, which OliverMcMillan developed in 2014. Construction will begin with the demolition of the former HiFi Buys building at Peachtree Street and Boiling Way, with completion slated for early 2020. Deming Fish and Scott O’Halloran of Colliers International will handle the building’s leasing assignment.