FORT WORTH, TEXAS — Weis Builders has begun construction on a Hampton Inn & Suites in downtown Fort Worth at the former site of the Fort Worth United Way. Located across from Fort Worth Convention Center, the 245-key hotel will feature an indoor fitness area, swimming pool, business meeting and conference areas and a lounge with a bar.
TOMBALL and PASADENA, TEXAS — Colliers International has arranged the sale of two land tracts for the expansion of Restaurant Depot, a wholesale grocery and foodservice supplier, in metro Houston. Restaurant Depot is a division of Jetro Holdings LLC, headquartered in College Point, N.Y. Each tract will house a 60,000-square-foot distribution warehouse store. One of the new locations is a 5-acre site on the west side of SH 249 north of Spring Cypress Road in Tomball. The other location is a 5.4-acre site on the northeast side of Preston Road between East Beltway 8 and Crenshaw Road in Pasadena. The new stores are expected to break ground in the fourth quarter and will be open for business by summer 2017. Marshall Clinkscales of Colliers’ Houston office and Tom Condon Jr. of The Woodlands office represented the buyers, JMDH Real Estate of Tomball LLC and Preston Park LLC, respectively. Keith Edwards with Caldwell Cos. represented the seller of the Tomball location. Alix Fox with Qualified Properties represented Mattie Faye Properties LLC, the seller of the Pasadena location. Kerry Wakefield with Alamo Title Co. coordinated both closings.
MCALLEN, TEXAS — Marcus & Millichap has arranged the sale of an 8,500-square-foot retail building net leased to Mattress Firm in McAllen. Vincent Knipp of the firm’s Dallas office procured the private buyer, which utilized a 1031 tax-deferred exchange. Mattress Firm is situated on 1.3 acres at 1304 E. Expressway 83 northeast of Jackson Avenue.
NEW YORK CITY — Alchemy Properties Inc. has received $220 million in financing for the conversion of the upper floors of the landmark Woolworth Building into luxury condominiums called The Woolworth Tower Residences. Reed Smith LLP represented the lender, United Overseas Bank Limited, New York Agency, in the financing. The luxury condominium conversion will be designed by Thierry Despont. Built in 1913, the Neo-Gothic tower was commissioned by Frank W. Woolworth and designed by Cass Gilbert. The Reed Smith LLP team included Joseph Sarcinella, Gerard Hefner, Crystal Persaud, Konstantinos Melitsanopoulos and Rose Plager-Unger.
NEW PROVIDENCE, N.J. — Bergman Real Estate Group has completed the sale of its four-story office building located at 121 Chanlon Road in New Providence. A private entity acquired the property for an undisclosed sum. Situated on 6.5 acres, the 112,260-square-foot office building is 85 percent leased by a variety of companies in industries such as publishing, technology and healthcare. David Bernhaut, Andrew Merin, Gary Gabriel, Brian Whitmer, Andrew Schwartz and Frank DiTommaso of Cushman & Wakefield’s Metropolitan Area Capital Markets Group brokered the transaction.
NEW YORK CITY — Big City Realty has acquired an apartment building located at 605 W. 151st St. in Manhattan’s Hamilton Heights neighborhood. Waterbury Realty Management sold the six-story, 31,000-square-foot property for $7.6 million. Built in 1920, the property features 25 apartment units and 14,136 square feet of air rights. Peter Vanderpool and Lazer Sternhell of Cignature Realty Group represented the buyer and the seller in the deal.
NEW YORK CITY — GFI Realty Services has arranged the sale of a pair of five-story, walk-up apartment buildings in Brooklyn’s Prospect Heights neighborhood. CSG Equities acquired the properties, which are located at 218-220 Park Place, for $6.6 million. The buyer plans to convert the buildings, which total 7,300 square feet, into luxury condominiums. Isaac Moskowitz and Yosef Katz of GFI Realty represented the seller, while Sasha Berg, also of GFI Realty, represented the buyer.
NEW YORK CITY — Marcus & Millichap has arranged the sale of net-leased property located at 310 E. Houston St. in Brooklyn as part of a 1031 exchange. An undisclosed New York-based purchaser acquired the 4,753-square-foot property, which is 15-year absolute net-leased to Manhattan AltSchool, for $6 million. Arthur Kaplan and Lisa Sickinger of Marcus & Millichap represented the seller, a developer. Barbara Dansker and Matt Fotis, also of Marcus & Millichap arranged the sale of property that was relinquished by the buyer.
NORTH HOLLYWOOD, CALIF. — North Hollywood-based iP2 Entertainment has partnered with National Geographic Partners LLC, a joint venture between National Geographic Society and 21st Century Fox, to develop a series of indoor, interactive exploration centers worldwide. Each National Geographic-branded family entertainment center will offer themed attractions, interactive demonstrations and hands-on workshops. Content will be geared toward families with school-aged children, ages five to 12-years-old. The partnership has teamed with K11 to develop its first location in Shenyang, China. The branded center will occupy 4,013 square meters in the Shenyang K11 Art Mall. The location is set to open in summer 2017. A portion of the proceeds from the entertainment centers will support the National Geographic Society’s work in conservation, exploration, research and education.
TUCSON, ARIZ. — Marcus & Millichap has arranged the $1.97 million sale of SurgCenter of Tucson, a 6,300-square-foot, net-leased property in Tucson. Jamie Medress, Mark Ruble and Chris Lind of Marcus & Millichap represented the seller, an undisclosed developer, in the sale of the property to an undisclosed limited liability company.