MARLTON, N.J. — RD Management LLC is developing Sunbird Plaza, a shopping center located at the intersection of Route 73 and Sunbird Drive in Marlton. The shopping center will feature 26,016 square feet of retail space. Additionally, RD Management has signed its first tenant to the to-be-built property. Royal Farms will occupy 5,166 square feet of space at the center, which is slated to open in spring 2017. The Maryland-based chain offers gasoline and diesel fuel, breakfast, lunch, dinner and snacks for customers’ sit-down or take-out convenience. The chain currently operates 167 stores and is expanding to the South Jersey market. The property also offers 19,200- and 1,650-square-foot retail spaces and a potential pad site is available for lease.
HASBROUCK HEIGHTS, N.J. — G3 Communications Inc. has leased office space at Heights Plaza, located at 777 Terrace Ave. in Hasbrouck Heights. The digital media company, which specializes in B2B marketing, will occupy 6,400 square feet at the six-story 200,000-square-foot office building owned by Alfred Sanzari Enterprises. Stephen Jennings provided in-house representation for the landlord, while Joe Tormen of Lee & Associates represented the tenant in the transaction.
HOUSTON — Post Properties has opened Post at Afton Oaks in Houston. Located in Houston’s Afton Oaks neighborhood, the property is the Atlanta-based company’s third Houston-area development and offers one- and two-bedroom apartments available for move-in Oct. 1. Rates start at $1,200 per month. Unit interiors feature stainless steel oven ranges, Whirlpool appliances, wood plank flooring, bathrooms with porcelain tile floors and AT&T U-Verse and Comcast Fiber capabilities. Community amenities include a pool and 2,000-square-foot fitness center. The community is pet-friendly, offering a dog run and washing station.
GRAND PRAIRIE, TEXAS — Environmental consultant ES&H has acquired an 11-acre tract across the street from its north Texas hub to develop a warehouse and water treatment facility. The company will break ground in the first quarter of 2017 at 3405 Gilbert Road in Grand Prairie. Will Dillard of Dallas-based Bradford Commercial Real Estate Services represented the buyer in a direct deal with the seller, Lawrence Watts of Dallas. ES&H has received tentative approval from the city for the expansion project. The warehouse will span roughly 20,000 square feet.
LA GRANGE, TEXAS — Rainier Realty Investments LP has purchased the St. Mark’s Medical Office Building situated on 3.2 acres on St. Mark’s Medical Center campus in La Grange, located halfway between Austin and Houston. Built in 2006, the 31,200-square-foot, single-story medical office building sits is 100 percent leased. Rainier Realty Investments is an affiliate of The Rainier Cos. in Dallas.
MIDWEST CITY, OKLA. — Metropolitan Capital Advisors Ltd. (MCA) has arranged a $6.8 million, fixed-rate loan for Huntington Place Apartments, a 288-unit multifamily complex. The 88 percent-occupied property is located at 1401 N. Midwest Blvd. in Midwest City, a suburb of Oklahoma City. RREAF of Dallas purchased the property. The company plans to make capital improvements to the property, enhance management and improve operations. Scott Lynn of MCA was responsible for arranging the Fannie Mae DUS loan with a fixed 3.2 percent interest rate through Arbor Commercial Mortgage.
HOUSTON — NAI Partners has represented the landlord in a 22,400-square-foot industrial lease at 2906 Holmes Road in Houston. Chris Caudill and Joel Michael of NAI Partners represented owner KRP Ventures LP during lease negotiations. Mike Easley of Waterman Steel represented the tenant, Premier Auto Transport, a trucking and transportation company.
GRAND RAPIDS, MICH. — JLL has opened a new brokerage office located at 15 Ionia Ave. in downtown Grand Rapids to broaden its existing presence in Michigan. Jeffrey Karger and Robert Horn will lead the new office. Karger most recently served as senior advisor/director of office services for CWD Real Estate Investments, and Horn has completed more than 11 million square feet of industrial transactions during his career. JLL employs more than 800 professionals in Michigan, with dedicated teams in Detroit and Ann Arbor, Mich., specializing in project management, corporate solutions and public institutions.
BRADENTON, FLA. — KeyBank Real Estate Capital has provided a $48.8 million Fannie Mae loan for ParkCrest Landings, a 400-unit property located at 5725 1st Ave. in Bradenton. Built in 2015, ParkCrest’s amenities include a theater, catering kitchen, cyber café, fitness center, game room, heated whirlpool spa, two lakefront swimming pools, two playgrounds, tennis courts, fenced dog parks, volleyball court, lakeside gazebo and four lakes with multiple fountains. Chris Black and Caleb Marten of KeyBanks’s commercial mortgage group arranged the financing, which facilitated the acquisition of the property.
VIRGINIA BEACH, VA. — The Franklin Johnston Group has opened Southern Pine, a 240-unit apartment community located at 2520 Allie Nicole Circle in Virginia Beach. The property is situated along the Virginia Beach National Golf Club and behind the Courthouse Market Place Shopping Center. The one-, two- and three-bedroom apartments feature stainless steel appliances and balconies. The gated community’s amenities include an outdoor infinity-style swimming pool, two-story clubhouse, fitness center and a two-lane bowling alley.