NEW YORK CITY — The Greater Jamaica Development Corp. has selected a joint venture between BRP Cos. and Wharton Properties to purchase and develop a site located at 90-02 168th St. in the Queens’ neighborhood of Jamaica. The open-air parking lot will become an approximately 500,000-square-foot development with more than 300 mixed-income residential units and more than 70,000 square feet of retail space. Construction is slated to begin in the second half of 2018.
WARMINSTER, PA. — J.G. Petrucci Co. has opened Jacksonville Station, a 151-unit apartment community located at 375 Jacksonville Road in Warminster. The eight-building property features 74 one-bedroom and 77 two-bedroom apartment units with high ceilings, stainless steel kitchen appliances, quartz countertops and in-unit washers/dryers. Situated on 10 acres, the multifamily complex features on-site surface parking, a state-of-the-art fitness center, resort-style swimming pool and resident clubhouse with flat-screen televisions, couches and meeting spaces.
HAZLE TOWNSHIP, PA. — Trammell Crow Co. and its partner, Allstate, through real estate investment manager CBRE Global Investors, have broken ground for Humboldt East Trade Center, a speculative warehouse building located within Humboldt Industrial Park in Hazle Township. The 440,504-square-foot building will feature 36-foot clear heights, employee and trailer parking, and a flexible design that can accommodate multiple tenants with separate entrances. Completion is slated for the first quarter of 2018. Sean Bleiler and Bill Wolf of CBRE are handling project leasing and marketing.
ALBANY, N.Y. — The Rosenblum Cos. has opened a ValuSpace Personal Storage facility, located at 40 N. Russell Road in Albany. The $7 million, 88,000-square-foot facility features 630 self-storage units, code-controlled access and security features.
NEW YORK CITY — TerraCRG has arranged the sale of an apartment building located at 440 Senator St. in Brooklyn’s Bay Ridge neighborhood. An undisclosed buyer acquired the four-story building for $4.8 million, or $340 per square foot. The 14,280-square-foot property features 20 apartment units. Peter Matheos and David Algarin of TerraCRG brokered the transaction.
ATLANTA — Houston-based real estate developer Hanover Co. is nearing completion of Hanover Buckhead Village, a 353-unit apartment community in Atlanta’s Buckhead district. The 20-story tower is located next to the historic Buckhead Theatre at the corner of Roswell Road and Irby Avenue N.W., and is situated within walking distance to a Whole Foods Market, West Village and The Shops at Buckhead Atlanta. Community amenities include a screening room, business center, 24-hour TechnoGym, rooftop pool deck and outdoor dining and fireplace areas. Individual units feature oversized glass windows, wood-style flooring and granite countertops. Hanover Buckhead Village also includes 13 penthouse units that will feature wraparound windows and views of the Buckhead and Midtown skylines. In addition, the tower will include approximately 12,500 square feet of first-floor retail space. The property is slated to open this fall.
FORT LAUDERDALE, FLA. — A joint venture between Bridge Development Partners, Akard Street Partners LP (an investment partnership operated by Banner Oak Capital Partners LP) and Elion Partners has secured a $16.6 million construction loan for the development of Bridge Point Riverbend, a 221,542-square-foot industrial building in Fort Lauderdale. Steve Roth of CBRE arranged the loan through Webster Bank. The seller was not disclosed. The joint venture originally acquired the 12-acre property, located at the intersection of Interstate 95 and Broward Boulevard, in July for $10.4 million. Bridge Point Riverbend will feature 32-foot clear heights, rear-dock loading, ESFR sprinkler systems, a 1.4 to 1,000 parking ratio and the flexibility to accommodate tenants from 40,000 square feet to 221,542 square feet.
MCLEAN, VA. — Noble Investment Group has purchased Staybridge Suites Tysons-McLean, a 142-room hotel in downtown McLean, part of the greater Tysons Corner market of Washington, D.C. The seller and sales price were not disclosed. The extended-stay hotel features suites equipped with a full kitchen and flexible work space. In addition, Staybridge Suites features a 24-hour business and fitness center, complimentary breakfast buffet, pool, fire pit and a patio with barbeque grills.
CORAL SPRINGS, FLA. — Cushman & Wakefield has brokered the $14.9 million sale of 4520 Coral Ridge Drive, a 245,000-square-foot manufacturing facility in Coral Springs. Richard Etner Jr., Christopher Metzger, Christopher Thomson and Matthew McAllister of Cushman & Wakefield represented the buyer, Philadelphia-based Exeter Property Group. Hoerbiger Corp. of America sold the asset. Formerly known as the Alliance Building, 4520 Coral Ridge Drive is situated on 38.4 acres within Corporate Park of Coral Springs. Of that land, 17.6 acres is developable. Constructed in 1981 and fully renovated in 1995 to meet Category 5 hurricane safety standards, the building features 196,000 square feet of warehouse and manufacturing space, 63,000 square feet of office space, a data room, auditorium-style theater and 537 parking spaces. In addition, 4520 Coral Ridge Drive offers ceilings heights ranging from 24 to 35 feet, nine dock-high doors and one drive-in door.
CHARLESTON, S.C. — Fort Lauderdale, Fla.-based Stiles has signed Publix to anchor Point Hope Commons, a 90,000-square-foot shopping center located within Cainhoy Plantation, a mixed-use community under development in Charleston. Point Hope Commons will be designed with a low country architectural theme and feature spaces for gathering and dining, with direct frontage along Clements Ferry Road. Stiles’ development team based in the company’s Charlotte office is managing the Point Hope Commons portion of the project, and Eric Meyer and Fritz Meyer of Meyer Kapp & Associates are providing property leasing representation. DI Development Co. is managing Cainhoy Plantation, which is being developed by combination of Guggenheim corporate and family interests. Upon completion, Cainhoy Plantation will include up to 9,000 single-family residences, a 264-unit apartment community and over 500 acres of retail, restaurant and office space.