SAN MARCOS, TEXAS — HDR has opened an office in San Marcos to serve Hays County and nearby cities including San Marcos, Kyle, Buda and Dripping Springs. The employee-owned engineering firm has leased space in the Red Oaks shopping center, located at 1290 Wonder World Drive, near the Hays County Government Center. Allen Crozier has been named manager of HDR’s San Marcos office. Crozier has been with HDR since 2005 and previously worked with the Texas Department of Transportation.
FORT WORTH, TEXAS — Marcus & Millichap has negotiated the sale of a 2,820-square-foot net leased retail property located at 4217 Bridge St. in Fort Worth. Lisa Estrada of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, an individual/personal trust. Estrada also secured the buyer, another individual/personal trust. The property is located two miles from downtown Fort Worth along I-30.
CYPRESS, TEXAS — Lee & Associates’ Houston office has brokered the sale of 1.7 acres at Barker Cypress Road near Highway 290 in Cypress. Patrick Wolford of Lee & Associates represented the seller, Rileigh LLC. Hunington Properties Inc. represented the unnamed buyer, and will be retained for the leasing and management of a planned 15,000-square-foot retail center at the site. The center will be known as Barker @ 290 Center.
NEW YORK CITY — 60 Guilders, a New York-based real estate investment and operating firm, has partnered with The Carlyle Group to convert three buildings in Midtown South to office condominiums. The three properties include The Corinthian, a 105,640-square-foot medical office building in Midtown South; 20 West 33rd Street, a 176,700-square-foot office building near the Empire State Building; and the adjacent 18 West 33rd Street, a 18,234-square-foot boutique office building. Rudder Property Group is marketing the units at the buildings. The conversions will add 300,000 square feet of available office condominium space to the Midtown South and Penn Plaza submarkets.
HOLMDEL, N.J. — Somerset Development has chosen Structure Tone Inc. to oversee construction plans, renovations and subcontractor management at Bell Works, the complete revitalization of the former Bell Labs campus in Holmdel. Structure Tone will assume management of all ongoing construction projects in the 2 million-square-foot property. Immediate renovations include the implementation of a new safety infrastructure along with a skylight replacement initiative, which will implement photovoltaic panels that will convert solar energy into electricity, reducing Bell Works’ environmental footprint while maximizing the building’s energy efficiency. Earlier this year, the Bell Works team executed a lease with anchor commercial tenant iCIMS, a leading provider of Software-as-a-Service (SaaS) talent acquisition solutions.
PHILADELPHIA — Breslin Realty Development Corp. has announced the opening of a new 58,980-square-foot ShopRite Supermarket at 330 Oregon Ave. in south Philadelphia. The store occupies a former Pathmark store and is operated by Colligas Family Markets, members of the Keasbey, N.J.-based Wakefern Food Corp., a co-operative of more than 250 independently owned stores. The store is located at Whitman Plaza, which has recently undergone an $8 million renovation. The new supermarket was renovated to include a fresh bake shop; full-service meat and seafood departments; prepared foods and catering; and grab-and-go meals such as sandwiches, heat-and-eat entrees and Asian cuisine. The store also features a specialty cheese department, an in-store café, and a shop-at-home delivery service. It employs around 300 workers. Other tenants at the community shopping center include Burlington Coat Factory, Ross Dress for Less, Pet Valu, PennDOT, Club Metro USA, Citizens Bank, Rainbow Shoppes, GameStop, GNC, Payless Shoe Source, and Party City. Breslin Realty Development Corp. manages the center, which was built in 1980 by the Breslin organization, and was previously renovated in 2003. It now sports a new façade and more than 20,000 square feet of updated interior space. Frankie Campione of CREATE Architecture Planning & Design …
MELVILLE, N.Y. — Merrill Lynch Wealth Management has signed a five-year renewal for its 28,522-square-foot lease at the Melville Square Corporate Center at 1305 Walt Whitman Road in Melville. The Feil Organization owns the building, which is located in the heart of Long Island’s corporate headquarters corridor on the border of Nassau and Suffolk counties. Merrill Lynch has been a tenant in the building since the property’s renovation in 1999. Feil acquired the three-story, 165,310-square-foot building in September 2015 and plans major upgrades including the relocation and installation of a full-service café, creation of a high-tech conference center, and renovation of the fitness center. David Turino and Nicholas Forelli of Feil represented the landlord. Vince LaManna and Richard Freel of CBRE represented Merrill Lynch.
SOUTH MIAMI, FLA. — TREO Group plans to build an eight-story office building at the corner of US 1 and Sunset Drive in South Miami. The Class A, transit-oriented project will connect directly to the Metrorail at the South Miami station. TREO Group has selected Tony Puente and Jose Juncadella of Fairchild Partners to handle leasing the building, known as SoMi Station. Perkins + Will designed the property to feature ground-floor shops and restaurants. TREO Group plans to deliver the office building in the fall of 2018.
ORLANDO, FLA. — Pembrook Capital Management LLC has closed $20.5 million in acquisition financing for Silver Oak Apartments, a 320-unit apartment community in Orlando. The financing includes a $17 million bridge loan and a $3.5 million preferred equity investment. The unnamed borrower plans to use the financing to purchase the property and renovate 115 units over the next two years. The borrower will also upgrade the community’s exterior, swimming pools, clubhouse and fitness center.
JACKSONVILLE, FLA. — Berkadia has arranged the $13.1 million sale of Deer Meadow, a 200-unit affordable housing community located at 8859 Old Kings Road South. Built in 2000, Deer Meadow includes one-, two- and three-bedroom floor plans with walk-in laundry rooms, bonus rooms, solariums and kitchen appliances. Community amenities include lake views, a fitness center, clubhouse and a swimming and wading pool. Cole Whitaker of Berkadia’s Orlando office, Greg Rainey of the firm’s Jacksonville office and Jason Stanton of the firm’s Tampa office brokered the sale. Springfield, Mass.-based Aspen Square Management Inc. purchased the property from Rockville, Md.-based Deer Meadow Associates Ltd.