ST. GEORGE, UTAH — Dixie State University will break ground this month on Campus View Suites, the university’s first student-housing complex on campus in nearly 50 years. The project will feature 350 beds and come online for the 2016-2017 school year. Suites at the 90,000-square-foot Campus View Suites will accommodate six students each and offer each student the option to share a bedroom with another student or have one to themselves. Each suite will include a living room space, larger kitchenette and eating space, and bathroom with sinks separate from shower/toilet rooms to alleviate congestion during heavy usage times. Additionally, the complex will include a large full kitchen, computer area and laundry room on each floor. The facility will also feature a multipurpose room, three activity/lounge areas, an exercise room and a conference room. Outdoor amenities will include volleyball courts, barbecue pits and grassy areas. Nisson Towers, built in 1968, was the last student housing complex added to campus and will remain operational after the opening of Campus View Suites. Method Studio Architects designed the project and Layton Construction will build it.
NEW YORK CITY — Marcus & Millichap has arranged the sale of a five-story, mixed-use building located at 165 W. 23rd St. in New York City’s Chelsea neighborhood. The asset sold for $11.9 million, or $1,471 per square foot. The property features a two-story restaurant and four multifamily units consisting of one studio, two one-bedroom units and one two-bedroom apartment. The apartment units were delivered vacant to the buyer. Peter Von Der Ahe, Shlomo Manne, Joe Koicim and Sean Lefkovits of Marcus & Millichap’s Manhattan office represented the seller and procured the buyer in the transaction. The names of both parties were not released.
NEW YORK CITY — Savanna, a New York-based real estate private equity and asset management firm, has completed the sale of a retail and residential property located at 210 Bedford Ave. in Brooklyn’s Williamsburg neighborhood. An affiliate of Status Capital LLC acquired the three-story, 3,219-square-foot property for an undisclosed price. After purchasing the property in 2013, Savanna leased the ground-floor retail space to Juice Generation and converted the residential space into a luxury duplex townhome.
PHILADELPHIA — Colliers International’s Philadelphia Capital Markets Group has secured a $10.8 million construction loan for Green Street Townhomes, a for-sale townhome development in Philadelphia. The loan features an 80 percent loan-to-cost ratio, a 4.5 percent floating rate, 24 months of interest-only payments and a 12-month extension option. Kris Wood, John Banas and Alex Hails of Colliers arranged the financing for the undisclosed borrower.
TRENTON, N.J. — Segal LaBate Commercial Real Estate has finalized the sale of the former Trenton Times building, located at 500 Perry St. in Trenton. Murray, Utah-based HighMark School Development, in collaboration with the International Academy of Trenton Charter School, acquired the 80,000-square-foot building for an undisclosed price. Situated on six acres, the building will be transformed into a K-12 school and feature outdoor playing fields and recreational areas. Segal LaBate Commercial Real Estate represented the buyer, while Richardson Commercial Real Estate represented the seller, PerTrent LLC, in the transaction.
NEW YORK CITY — Welco Realty Inc., a partner of X Team International, has arranged a 50,000-square-foot leased with Fairway Market at Georgetown Shopping Center in Brooklyn. The store, which will be the second in Brooklyn, will be located on Ralph Avenue. Fairway Market will be replacing Waldbaum’s supermarket. Welco Realty represented both the tenant and the landlord, Astoria Holding Corp., in the transaction.
HOUSTON — Dalfen America Corp. (DAC) has acquired Lockwood International’s corporate headquarters and distribution facilities in Houston in a sale-leaseback transaction. Lockwood International is a privately held supplier of valves and valve automation. The three-building portfolio includes two warehouses and one office building totaling 201,000 square feet. The properties were built in 1998, 2002 and 2004 as a build-to-suit project for Lockwood. Located two miles from Union Pacific’s Englewood and Settagast intermodal terminals, the property is also about 15 miles from downtown Houston. Joseph Smith of CBRE represented Lockwood International in the sale-leaseback transaction to DAC.
FORT WORTH, TEXAS — Monmouth Real Estate Investment Corp. has acquired a 304,608-square-foot industrial building located in the Fort Worth Alliance Airport at 2701 Texas Longhorn Way in Fort Worth for $35.3 million. The property is net leased for 15 years to FedEx Ground Package System. The building is situated on 44.2 acres. Monmouth was founded in 1968 and specializes in net leased industrial properties.
HOUSTON — NAI Partners represented Customform Transportation Systems in the renewal of a 27,000-square-foot industrial lease at the Post Oak Industrial Park located at 1217 N. Post Oak Blvd. in Houston. Clay Pritchett of NAI Partners and Robin Weber of Weber Commercial represented Customform in the renewal, while Jude Filippone of Transwestern Commercial Services represented the landlord, St. Paul Marine Insurance Co.
HOUSTON — Mercantil Commercebank has leased 18,069 square feet at the Town Centre I building located at 750 Town & Country Blvd. in Houston. Bob Cromwell and Kevin Nolan of Moody Rambin represented the building owner, Town Centre Partners Ltd. Bobbie Bozarth of Transwestern represented the tenant in negotiations.