AUSTIN, TEXAS — CBRE Global Investors’ U.S. Managed Accounts Group has acquired The Mosaic at Mueller, a Class A, 441-unit apartment community in Austin, on behalf of Allstate. The Mosaic was 96 percent occupied at the time of sale. The community is located at 4600 Mueller Road in East Austin, a residential area two miles from the University of Texas and four miles from Austin’s central business district. Mosaic is part of the 711-acre mixed-use Mueller Redevelopment. When completed, Mueller Redevelopment will consist of more than 4 million square feet of office and retail, 5,700 residences and 140 acres of recreational amenities. The Mosaic at Mueller’s interiors include granite countertops, stainless steel appliances, faux wood flooring and tile backsplashes. Property amenities include an 1,800-square-foot fitness center, two pools, five courtyards with grilling areas, garage parking and 8,669 square feet of fully leased ground-floor retail. Minor cosmetic updates are planned for the common areas.
PLANO, TEXAS — Mainstreet, a skilled nursing developer based in Indiana, has opened The Healthcare Resort of Plano, a 100-bed skilled nursing and rehabilitation facility in the Dallas suburb of Plano. Construction started in March 2014. Mainstreet developed the property and The Ensign Group Inc. will operate it. The 68,203-square-foot project costed $16 million to develop.
SAN ANTONIO — Marcus & Millichap has arranged the sale of Marbach Business Center, a 33,175-square-foot industrial property located in San Antonio. Joshua Murphy and Jon Danklefs of Marcus & Millichap’s San Antonio office marketed the property on behalf of the seller, a limited liability company. Danklefs secured the buyer, a private investor. Marbach Business Center is located at 9207 Marbach Road in a growing corridor of western San Antonio. Built in 2006, the facility includes three buildings with stucco exteriors, garage-style roll-up doors and asphalt drives. There are 22 total units that range in size from 559 to 1,602 square feet.
KATY, TEXAS — Preparations are underway to launch a new concept of Hungry’s Café & Bistro, a dining venue with locations around Houston. Neima Sharifi and Sherbim Sharifi, nephews of Hungry’s original founder, are planning a mid-March opening for Local Table by Hungry’s in Villagio Town Center, where the company has leased 4,558 square feet of restaurant space. The Sharifi brothers have leased the last retail vacancy in Villagio Town Center, which is located at 22756 Westheimer Parkway in Katy. The 107,119-square-foot project’s office component is nearly 100 percent leased, with just 2,000 square feet of shell space available. Rachael Keener of NewQuest Properties represented the landlord, Villagio Investment Holdings, and also served as Hungry’s tenant representative. The prototype restaurant will include an inside bar plus a patio that opens to the courtyard. The Local Table site search had concentrated on Katy and The Woodlands. Local Table will include take-out and delivery service at lunch and casual dinner dining.
NEWTON, MASS. — R.W. Holmes Realty has brokered the sale of an office/manufacturing building located at 55 Border St. in Newton. Border Realty Trust sold the property to Quarter Realty Trust for $2.7 million. The 18,000-square-foot building features a tailboard dock, a drive-in door and heavy power. Garry Holmes of R.W. Holmes Realty represented the seller, while Dean Blackey, also of R.W. Holmes Realty, represented the buyer in the transaction.
WILTON, CONN. — JRT Realty Group, working in conjunction with Cushman & Wakefield, has arranged four leases totaling 23,595 square feet at Wilton Woods Corporate Campus, located at 10 and 20 Westport Road in Wilton. The two-building, Class A office park is owned by TIAA-CREF. Property Group Partners has signed a five-year, 6,874-square-foot lease on the third floor of the 341,207-square-foot building at 20 Westport Road, and Stonebridge Advisors has inked a 10-year deal for 6,642 square feet of first-floor space at the 197,512-square-foot building at 10 Westport Road. Property Group Partners, which serves as property manager of the complex, represented itself in transaction, while Stonebridge Advisors was represented by Thomas Pajolek of CBRE. Additionally, at the 10 Westport Road building, Sierentz Fund renewed its 5,879-square-foot lease and Louis Dreyfus Family Office renewed its 4,200-square-foot lease. TIAA-CREF was represented by Greg Smith of JRT Realty Group and Kevin Foley and William Montague of Cushman & Wakefield in the transactions.
STAFFORD TOWNSHIP, N.J. — Walters Group is constructing a Five Below store at Stafford Park Shopping Center in Stafford Township. Slated for completion by mid-2016, the 8,176-square-foot retail space will be leased to Five Below under a 10-year contract. The 400,000-square-foot Stafford Park Shopping Center is occupied by Costco, Target, PetSmart, Dick’s Sporting Goods, Best Buy, Olive Garden, AT&T, The Vitamin Shoppe and Ulta Beauty, among others. Walters Group developed the center in 2008.
KEENE, N.H. — Brady Sullivan Properties has signed leases with five new tenants at its Colony Mill Marketplace and Center at Colony Mill in Keene. Curry Restaurant, Southern NH Services and Bruce Carey Insurance opened a total of 3,600 square feet at Colony Mill Marketplace, while Adecco and Prospect Place joined Center at Colony Mill with a total of 2,500 square feet. Benjamin Kelley and Charles Panasis of Brady Sullivan Properties brokered the transactions.
ITHACA, N.Y. — STREAM Capital Partners has arranged the sale of a 2,480-square-foot two-tenant retail property in Ithaca. A private investor purchased the property for $640,000 at a 6.25 percent cap rate. The property was under a short-term existing ground lease to the current tenants, Tim Hortons and Cold Stone Creamery. Susan Harris of STREAM Capital Partners represented the undisclosed seller in the transaction.
HAYWARD, CALIF. — Meta Housing Corp. has broken ground on the Downtown Hayward Senior Apartments, a 60-unit affordable seniors housing development in Hayward, 15 miles southeast of Oakland. The new development will include approximately 6,000 square feet of retail space on a nearly one-acre lot in the city’s downtown. Development costs are estimated at $26 million. Meta will develop the new apartment community in partnership with Community Home Builders and Associates. Redstone Equity Partners, Enterprise Community Partners Inc., Citibank, CalHFA, Federal Home Loan Bank of San Francisco, the State of California Department of Housing and Community Development (HCD), Alameda County Housing and Community Development Department, California Community Reinvestment Corporation, and the California Tax Credit Allocation Committee all provided financing for the project. Meta is a multifamily developer based in California that has developed more than 6,000 units.