AUSTIN, TEXAS — Locally based multifamily and student housing developer LV Collective, formerly known as Lincoln Ventures, will open a 59-room hotel within its Paseo mixed-use tower in downtown Austin’s Rainey Street district. The hotel will be known as ROOST Rainey and will occupy the building’s 14th through 17th floors. ROOST Rainey, which is scheduled to open before the end of the year, will offer apartment-style rooms in studio, one-, two-, three- and four-bedroom formats. Guests will have access to Paseo’s amenities.
TOMBALL, TEXAS — SVN | J. Beard Real Estate has brokered the sale of a vacant quick-service restaurant (QSR) building in Tomball, located northeast of Houston. The building was formerly home to Krispy Kreme. Jackson Cain and Brigham Hedges of SVN | J. Beard represented the seller, Wave Crest Development, in the transaction. The buyer and future occupant, a Dairy Queen franchisee, was self-represented.
WILTON, CONN. — CBRE has negotiated the $24.7 million sale of a 221,070-square-foot office building in the southern coastal Connecticut city of Wilton. The two-story building at 50 Danbury Road is home to tenants such as AIG, ASML and Hartford Health Care. Jeff Dunne, Steve Bardsley and Travis Langer of CBRE represented the seller, a partnership that includes an entity managed by Taconic Capital Partners, in the transaction. Shawn Rosenthal and Jason Gaccione, also with CBRE, arranged acquisition financing on behalf of the buyer, Melrose Pfeiffer Holding LLC.
JERSEY CITY, N.J. — Locally based financial intermediary Cronheim Mortgage has arranged $17.8 million in financing for Old Colony Square, a 100,760-square-foot shopping center in Jersey City. Asian grocer 99 Ranch Market anchors the center, which was fully leased at the time of the loan closing. Other tenants include McDonald’s, Advance Auto Parts and Dunkin’. Brandon Szwalbenest, Andrew Stewart and Dev Morris of Cronheim arranged the fixed-rate loan through an undisclosed life insurance company on behalf of the owner, National Realty & Development Corp.
STAMFORD, CONN. — Zelco Properties, the development and acquisition arm of Charter Realty, has purchased a 153,000-square-foot shopping center in the southern coastal Connecticut city of Stamford. Whole Foods Market and Saks Off Fifth anchor the center. Zelco acquired the center along with undisclosed institutional and operating partners. The seller and sales price were not disclosed. Charter Realty will also be the leasing agent. Approximately 74,000 square feet of space remains available.
NEW YORK CITY — Moroccanoil has signed a 39,799-square-foot office lease at 1185 Avenue of the Americas in Midtown Manhattan. The cosmetics company will occupy part of the 32nd and all of the 33rd floor at the 42-story building. Deborah Van Der Heyden, Yarden Drimmer, Tamar Wartanian and Andrew Chase of Cushman & Wakefield represented the tenant in the lease negotiations. Brian Waterman, John Fanuzzi, Brent Ozarowski, David Waterman and Kevin Sullivan of Newmark represented the landlord, SL Green.
BOHEMIA, N.Y. — Uncle Giuseppe’s Marketplace has opened a 39,000-square-foot store in the Long Island community of Bohemia. The caterer and provider of Italian food and shopping experiences has backfilled a former Babies ‘R’ Us space at Sayville Plaza. Robert Delavale of Breslin Realty represented the landlord in the lease negotiations on an internal basis.
BOCA RATON, FLA. — BH Group and PEBB Enterprises have secured $89.9 million in financing for The Eclipse, a 29-acre mixed-use redevelopment in Boca Raton. City National Bank and Abanca provided the new financing, which grew the loan proceeds for the construction financing from $47 million to nearly $90 million. BH Group and PEBB are partnering on the office and retail components of The Eclipse. The companies are also co-developing the 500-unit residential component in partnership with Related Group. The redevelopment includes a Class A overhaul of the project’s existing 405,000 square feet of office space across two buildings, which were formerly the corporate headquarters for retailer Office Depot. Notable office tenants include Atlantic | Pacific Cos., Kanner & Pintaluga, MN8 Energy and ODP Corp. The Eclipse also includes two ground-up retail and restaurant outparcel buildings totaling approximately 21,500 square feet, as well as a nearly 37,000-square-foot Equinox gym.
WESLEY CHAPEL, FLA. — SJC Ventures has broken ground on Wesley Chapel Station, a 75,968-square-foot shopping center in metro Tampa. A 35,518-square-foot Whole Foods Market will anchor the center, which will be located at the corner of Bruce B Downs and Aronwood boulevards. Other committed tenants include PopUp Bagels, CAVA, Naked Farmer, Petfolk, The Tox and a nail salon. The center has approximately 15,000 square feet of available vacancy, according to SJC Ventures. Adjacent to the shopping center, the Atlanta-based firm is underway on an 85,000-square-foot Life Time Fitness club. The developer expects to open the first stores at Wesley Chapel Station in second-quarter 2027.
RINCON, GA. — Transwestern Development Co., along with joint venture partner Transwestern Investment Group, has purchased a 30.7-acre site in Effingham County on behalf of a separately managed account. The ownership group plans to develop two Class A industrial buildings on the site, which is situated within North Gate Industrial Park. The project will include a 240,560-square-foot rear-load building and a 288,000-square-foot front-load building, each designed with 36-foot clear heights, ESFR systems, dock-high doors, multiple points of ingress and egress, 2,500 square foot office suites and ample car parking and onsite trailer storage. Situated near the intersection of Ga. Highway 21 and Old Augusta Road in Rincon, the development will provide direct access to interstates 95 and 16 and offer drayage routes from the Garden City Terminal at the Port of Savannah. The project team includes The Conlan Co., Randall-Paulson Architects and Kern & Co. JLL will provide leasing services. Transwestern plans to begin construction before the end of the year and complete the shell of the two buildings by year-end 2026.