DALLAS — CBRE | UCR has brokered the sale of 94 acres at the northwest corner of Lancaster Road and I-20 in southern Dallas. Centurion American, based in Farmers Branch, purchased the tract from Sun NLF for an undisclosed price. The parcel will be added to an assemblage of land, currently spanning 294 acres, for a proposed mixed-use development called University Hills. The development will include townhomes, multifamily units, entertainment and retail. Lots should be available beginning in summer 2017. Thurston Witt of CBRE | UCR represented the seller in the transaction. Robert Maxey of MetroCom Properties represented the buyer.
LOWER NAZARETH, PA. — Joint venture partners Trammell Crow Co. and Clarion Partners have acquired a 90-acre site located at 4815 Hanoverville Road in Lower Nazareth for the development of Lehigh Valley Trade Center. Construction is slated to begin later this month for two Class A speculative warehouse/distribution buildings totaling more than 1.2 million square feet. Building A will comprise 947,000 square feet with cross-dock loading, 36-foot clear heights, the capacity for more than 240 loading dock doors, and ample car and trailer parking. The second building will total 297,000 square feet and will feature rear loading and 32-foot clear heights. Clarion Partners acquired the property on behalf of a commingled fund that it manages.
NEW YORK CITY — A joint venture between Savanna and Atom Assets, a Hong Kong-based family office real estate investment platform, has received a $40 million acquisition loan for a development site located at 106 W. 56th St. in Midtown Manhattan. The loan was provided by Singapore-based United Overseas Bank Ltd. The partnership plans to develop the site into a 26-story, Class A boutique office building. Located in Manhattan’s West Fifties neighborhood, the new building will offer 90,000 square feet of Class A boutique office space. Kelly Gaines and Aaron Niedermayer of JLL arranged the financing.
SOMERVILLE AND TAUNTON, MASS. — Fantini & Gorga has arranged two loans totaling $7.3 million in permanent financing on two retail properties in Massachusetts. In the first transaction, Fantini & Gorga arranged $2 million in refinancing for a 17,500-square-foot strip center in Somerville. The borrower was a long-term client of Fantini & Gorga. The 20-year fixed-rate loan, which was provided by a regional financial institution, features a 25-year amortization schedule. In the second deal, Fantini & Gorga secured $5.3 million in refinancing on an existing CMBS loan for a 30,000-square-foot strip center in Taunton. The new 10-year loan was originated with another CMBS lender. Mark Whelan and Wayne Clough of Fantini & Gorga arranged the financing for both transactions.
NEW YORK CITY — Eastern Consolidated has arranged the sale of a retail condominium located at 4 W. 19th St. in Manhattan’s Flatiron district. A private real estate investor acquired the ground-floor 1,574-square-foot retail asset from a corporate entity for $6.4 million. The property is currently leased to Zuber, a luxury wallpaper and fabric firm. Ron Solarz of Eastern Consolidated represented the seller, while Roberto Ortiz and Rhonda Rogovin, also of Eastern Consolidated, represented the buyer in the transaction.
NEW YORK CITY — Cushman & Wakefield has arranged the sale of a mixed-use building in Brooklyn’s Greenpoint neighborhood. Ben Franklin LLC acquired the 4,133-square-foot property for $3.1 million, or $762 per square foot. The four-story building features three residential units and a ground-floor retail space, which is occupied by a neighborhood bar. Brendan Maddigan of Cushman & Wakefield handled the transaction. The name of the seller was not released.
SAN ANTONIO AND CHICAGO — San Antonio-based USAA Real Estate Co. and HSA PrimeCare, a division of Chicago-based HSA Commercial Real Estate, have formed a joint venture to acquire and develop outpatient healthcare real estate assets across the Midwest. Along with the announcement, the joint venture also made its first acquisition, a 97,375-square-foot portfolio, for an undisclosed price. The three-property portfolio consists of the Advocate Christ Outpatient Center in Tinley Park, Ill., the Coffee Creek Medical Office Building in Chesterton, Ind. and the APAC Medical Plaza in Crown Point, Ind. The joint venture will acquire an array of medical buildings such as medical office buildings, cancer centers, ambulatory surgery centers, medical wellness centers and other specialty centers. HSA PrimeCare will provide investment analysis, development, leasing and property management services to the partnership.
CARMEL, IND. — Citimark will develop a 60,000-square-foot, Class A office building in Carmel, approximately 20 miles north of Indianapolis. Wagner Reese LLP, a personal injury law firm, and Blue Horseshoe, a software and technology enterprise service provider, will occupy approximately half of the three-story building that will be located at 11939 N. Meridian St. The building is slated for completion in January 2017, and construction will start this spring. Rich Forslund and Matt Langfeldt of Colliers International will serve as the listing agents for the project.
LOCKPORT, ILL. — RJW Logistics has signed a 512,265-square-foot lease for a distribution facility in Lockport, approximately 35 miles southwest of Chicago. ML Realty Partners LLC owns the building located within the Heritage Crossing Corporate Center, a 228-acre business park. The facility is located at 14908 S. Gougar Road and features 32-foot clear heights. There are a total of 12 buildings planned for the Heritage Crossing Corporate Center. Dan Leahy, Mark Moran and John Whitehead of NAI Hiffman represented ML Realty Partners in the transaction. Dominic Carbonari of JLL represented RJW Logistics.
NORTHBROOK AND BARTLETT, ILL. — Brown Commercial Group has brokered the sale of two industrial buildings. In the first transaction, Bill’s Plumbing acquired a 17,290-square-foot building located at 1855 Holste Road in Northbrook, approximately 25 miles northwest of Chicago. The plumber is expanding from a 2,600-square-foot space in Skokie. Trinity Scurto of Brown Commercial represented the buyer, and Juanita Song of Coldwell Banker represented the seller. In the second deal, Care Investments LLC sold a 2,642-square-foot industrial facility to an undisclosed buyer. The building is located at 1292 Humbracht Circle in Bartlett, approximately 35 miles west of Chicago. Brian Lindgren and Dan Brown of Elk Grove, Ill.-based Brown Commercial represented the seller, and Dan Smolensky of Taurus Modal Group represented the buyer. Financial terms of the transactions were not disclosed.