LEANDER, TEXAS — Randalls Food Markets and Cypress Equities will host a ground breaking ceremony for Crystal Falls Town Center, a 94,000-square-foot shopping center, on Thursday, Oct. 15. The center will be anchored by a new Randalls grocery store in the master-planned community of Crystal Falls in Leander, and is projected to open in fall 2016. Randalls president Sidney Hopper, Cypress Equities senior vice president Stephen Schmidt, Leander Mayor Chris Fielder and Leander Chamber of Commerce president and CEO Bridget Brandt will be on hand at the ceremony. The center will be located at 3501 N. Lakeline Blvd.
ARLINGTON, TEXAS — Cityspace Real Estate, Inc. has purchased a 28,862-square-foot flex building in Arlington from Praktek Associates Brookhollow Associates. Zane Marcell and Hahn Franklin-Mitchell of Younger Partners represented the seller.
BEAUMONT, TEXAS — Marcus & Millichap has arranged the sale of Jefferson House, a 42-unit apartment property located in Beaumont. Jeffrey Fript and Christian Mazzini of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, a developer. Mazzini and Fript also represented the buyer, a limited liability company. Jefferson House is located at 2450 W. Lucas Drive.
NAPLES, FLA. — HFF has brokered the $74.4 million sale of a seven-building portfolio on 5th Avenue in Naples. The portfolio totals 122,276 square feet and comprises 73,523 square feet of street-level retail space, 48,753 square feet of office space and a 1.1-acre, 115-space parking lot at the corner of 4th Avenue and 4th Street. The buildings are 86.2 percent leased, in aggregate, to tenants including Wells Fargo Bank, TD Bank, TD Ameritrade, Berkshire Hathaway Real Estate, PNC Bank, SunTrust Bank, Starbucks Coffee, Tervis Tumbler and Provident Jewelry. Hoffman Commercial Real Estate purchased the assets free and clear of existing debt. Manuel De Zarraga, Daniel Finkle, Luis Castillo and Nat Scarmazzi of HFF represented the seller, Naples Fifth Avenue Holdings LLC, in the transaction. Rod Castan of Courtelis Co., which provided leasing and management services for Naples Fifth Avenue Holdings, assisted HFF in the marketing process.
COLUMBIA, S.C. — The University of South Carolina is seeking a private developer to build and operate a residential village on the south side of its campus that includes new student housing towers, according to Wes Hickman, a spokesman for the school. The developer would have the ability to lease the property for up to 40 years, and the school would share in the profits from renting rooms to students. To build the towers, four residence halls with 1,200 beds — Bates House, Bates West, Cliff Apartments and Carolina Gardens — would need to be demolished. Plans call for replacing these halls with three- to six-story towers that could have as many as 4,000 beds. USC hopes to have 1,500 beds on line by July 2018. According to Hickman, the school would likely put little to no money upfront toward the project. The 18-acre village would also include dining facilities, recreation space and parking.
JACKSONVILLE, FLA. — International Management Co. (IMC) will break ground this week on a three-story, 62,751-square-foot office building located at 203 Fort Wade Road in Jacksonville. The property will be situated within the Fort Wade Road Office Park in Jacksonville’s Ponte Vedra/Nocatee submarket. Jacksonville-based IMC has selected CBRE as the landlord representative for the new building. Lou Nutter of CBRE will oversee the listing. IMC expects to complete the property by July 2016.
ORLANDO, FLA. — ARA Newmark has brokered the sale of Regency Oaks, a 343-unit, value-add apartment community located in Casselberry, roughly 10 miles north of downtown Orlando. The property was 95 percent occupied at the time of sale. Common area amenities include a barbecue and picnic area, dog park, carports, a lighted tennis court, playground, three laundry facilities, three swimming pools with sundecks, a 24/7 fitness center and a self-serve car wash. Kevin Judd, Patrick Dufour, Richard Donnellan, Marc deBaptiste and Scott Ramey of ARA Newmark represented the Norfolk, Va.-based seller, Harbor Group International LLC, in the transaction. Jacksonville-based Michaelson Real Estate Group LLC purchased the asset for an undisclosed price.
LAKE CHARLES, LA. — Marcus & Millichap has brokered the sale of The Gardens and The Guardian, a 108-bed seniors housing property located at 1401 Country Club Road in Lake Charles. The sales price was undisclosed, but the list price was $9.6 million. Rod Llanos and Doug O’Toole of Marcus & Millichap’s Houston office represented the seller, a limited liability company, in the transaction. Llanos and O’Toole also secured the buyer, also a limited liability company. William Hoffpauir of Marcus & Millichap assisted in the transaction.
NEW YORK CITY — Construction has topped out for 252 East 57th Street, a 65-story condominium tower in New York City. Developed by World Wide Group and Rose Associates, the tower has reached its highest point of more than 700 feet. Designed and constructed by SOM, DeSimon, Flack + Kurtz, SLCE Architects and Lend Lease LMB Inc., the tower features a curved glass façade that amplifies the residential surface areas and offers views of Manhattan, Central Park and the East River. Upon completion the tower will feature 93 condominiums in two-, three-, four- and five-bedroom configurations. On-site amenities include a gated porte-cochere and a residents’ club with a terrace, pool and spa. Occupancy is slated for late 2016, with residences starting at $4.5 million.
ELIZABETH, N.J. — HFF has arranged $23.8 million in construction financing for the development of a freezer warehouse at 900 Fairmont Ave. in Elizabeth. The financing was provided by The Provident Bank for the developer, a partnership between Elberon Development Group and The Avidan Group LLC. The 138,642-square-foot build-to-suit facility will feature 60-foot ceiling clear heights, 18 temperature-controlled loading doors and 4,800 square feet of office space. Slated for completion in June 2016, the property will be 100 percent occupied by Seafrigo NA Cold Storage Inc. Michael Klein and Jon Mikula of HFF represented the borrower in the financing transaction.