FORT WORTH, TEXAS — KWA Construction has completed construction of HIGHPOINT Urban Living, a 400,000-square-foot, 227-unit apartment complex on the site of the former Coca-Cola bottling plant at 650 S. Main St. in Fort Worth’s Medical District. The property features a bike rental station, resort-style pool, cabanas and a fire pit, with one-bedroom units averaging 631 square feet and two-bedroom units averaging 1,257 square feet.
KERRVILLE, TEXAS — Marcus & Millichap has brokered the sale of A-B-C Self Storage, a 40,860-square-foot self-storage facility in Kerrville, a city approximately 65 miles northwest of San Antonio. Situated on 2.2 acres at 1201 Bandera Highway, the property comprises 269 units within 40,700 square feet of net rentable space. Jon Danklefs of Marcus & Millichap represented the seller, a limited liability company. Butch Lagred and Chad Knibbe, also with Marcus & Millichap, represented the buyer, a private investor.
PASADENA, CALIF. — Dog Haus, a Pasadena-based gourmet hot dog, sausage and burger concept, has signed a development agreement with American Development Partners. The agreement includes the construction of over 300 new Dog Haus franchise locations in 12 states over the next seven years. The new locations will be built on land primarily purchased for built-to-suit and standalone Dog Haus Biergarten concepts, and will be operated by franchisees with multi-unit and multi-brand experience. The deal has a projected real estate, construction and design investment value of over $500 million. Dog Haus currently has 21 stores open in five states (Arizona, California, Colorado, Nevada and Utah), which will now grow to 19 states across the country with stores set to open in Alabama, Florida, Georgia, Illinois, Kentucky, Louisiana, Maryland, Michigan, Ohio, New York, Pennsylvania, Texas, Tennessee and Wyoming. American Development Partners’ primary role will be to aid in the development of new locations, and facilitate the acquisition of land and oversee construction of this deal’s new franchise locations.
HOUSTON — Lee & Associates has negotiated a 6,000-square-foot industrial lease at 475 W. 38th St. in Houston on behalf of L&M Installation Solutions, a provider of office furniture and moving services. Preston Yaggi of Lee & Associates represented the tenant in the transaction. Beau Kaleel of Cushman & Wakefield represented the landlord, Prologis Inc.
HENDERSON, TEXAS — Inroads Realty, a Dallas-based brokerage firm, has arranged the sale of a 39,797-square-foot retail property previously leased to Brookshire’s Grocery Store in Henderson, a city roughly two hours east of Dallas. Thad Beckner of Inroads represented the buyer, Brandywine Financial, a Pennsylvania-based real estate investment and management firm, in the transaction
SANTA BARBARA, CALIF. — Integral Senior Living (ISL), a seniors housing operator, has been chosen to manage The Oak Cottage of Santa Barbara, a memory care community in Santa Barbara. This will be the California-based operator’s first community in Santa Barbara.
EAST SETAUKET, N.Y. — HFF has secured an $81.5 million recapitalization for Stony Brook Technology Center, an eight-building medical office portfolio totaling 261,824 square feet in the Long Island community of East Setauket. HFF represented the borrower, TRITEC Real Estate, and procured the lender, a fund advised by UBS Real Estate & Private Markets. Completed between 1987 and 2007, the portfolio is located in a master-planned business park. Stony Brook University occupies more than 65 percent of the buildings. The HFF team representing TRITEC included Andrew Scandalios, Jose Cruz and Michael Gigliotti.
BOSTON — Colliers International has negotiated the $41 million sale of an office property located at 148 State St. in Boston. Colliers also arranged $26.7 million in acquisition financing for property, which is the corporate headquarters of Public Consulting Group (PCG), a public sector management and technology consulting firm. Colliers marketed the property on behalf of the seller, an entity controlled by principals of PCG, and procured the buyer, a joint venture controlled by Harbor Trading USA. Totaling 64,500 square feet, 148 State St. is a Class B office asset anchored by PCG, which occupies 87 percent of the building on floors two through 11. The Ginger Man, a craft beer bar, occupies the remaining 9,000 square feet. Colliers International’s Doug Jacoby, Scott Dragos, Tony Hayes, Tim Mulhall and Dan Hines led the sales team. Colliers’ Jeff Black secured the 10-year, fixed-rate loan through Blue Hills Bank.
WOODBURY, N.J. — NAI Mertz has brokered the sale of Lakeside Professional Campus, a 45,000-square-foot office building located at 190 N. Evergreen Ave. in Woodbury. The NAI Mertz team of Rebecca Ting and Julie Kronfeld represented the seller in the transaction. The buyer, First National Realty Partners LLC, will retain NAI Mertz as the leasing agent for the complex. Lakeside Professional Campus is located near Interstate 295 and the New Jersey Turnpike.
NEW YORK CITY –– Equity Office has signed a lease with investment advisory firm Cyrus Capital Partners to move the Cyrus headquarters to a 23,356-square-foot space at the 36-story Park Avenue Tower in Manhattan. Cyrus Capital, an SEC-registered investment advisor, will occupy 15,048 square feet across the 34th floor and 8,308 square feet on the 35th floor. Equity Office will build out the space for the tenant, including construction of an internal staircase to connect the two floors, with completion slated for the fourth quarter of 2017. While the buildout of Cyrus Capital’s new space is occurring, the firm will occupy space on the sixth floor, relocating from 399 Park Ave. in May. Ben Friedland and Silvio Petriello of CBRE represented Cyrus Capital in the transaction. Zach Freeman and Scott Silverstein internally represented Equity Office, along with Brian Waterman, Jared Horowitz, Ben Shapiro, Brent Ozarowski and Lance Korman of Newmark Grubb Knight Frank.