DALLAS — DoubleTree by Hilton Dallas — Love Field, located one-quarter mile from Dallas Love Field Airport, is now open. The 244-room property, formerly a Wyndham hotel, recently underwent a $2 million renovation that includes upgrades to the north entrance, parking lot and various public areas of the hotel. DoubleTree by Hilton Dallas – Love Field is owned by Mockingbird Partners LP and managed by Viceroy Investments LLC. Amenities include Wi-Fi throughout the hotel’s public areas and guest rooms, laundry and valet services, a 24-hour fitness center, outdoor pool and complimentary 24-hour shuttle service to Love Field Airport. The hotel also features 14,000 square feet of flexible meeting space. DoubleTree by Hilton Dallas — Love Field is located at 3300 W. Mockingbird Lane.
TULSA, OKLAHOMA — TGC Development Group of Wichita, Kan., has broken ground on a four-story, 124-unit Value Place extended stay hotel at 11000 E. 45th St. in Tulsa near Broken Arrow Expressway and U.S. Highway 169. This will be the second extended stay hotel for TGC in the Tulsa area. The hotel will feature three room layouts with modified kitchens. Amenities include on-site laundry, vending and Wi-Fi. Wichita-based Ink Construction will begin construction immediately on the 45,000-square-foot hotel, which is slated to be completed in the fall.
WESTERVILLE, OHIO — Marcus & Millichap has brokered the $10.75 million sale of a 99,380-square-foot Kohl’s department store in Westerville. The triple-net-leased asset is located off I-270 in a shopping plaza with an Office Max, a Marc’s discount drugstore and a grocery store. Other nearby retailers include Walmart, Kroger and Tuesday Morning. SPMC Urban Properties purchased the property in a 1031-tax-deferred exchange. Dean Zang of Marcus & Millichap’s Washington D.C. office and Craig Fuller of the firm’s Cleveland office represented the buyer. Zang, Fuller and Scott Wiles, of the firm’s Cleveland office, along with Erin Patton of the firm’s Columbus office, represented the seller, Garrison Central II LLC.
OAK PARK, ILL. — Interra Realty has arranged the sale of two multifamily properties in Oak Park for a total of $2.1 million. An 11-unit apartment building at 426 S. Wesley Ave. sold for $1.2 million. Patrick Kennelly, James Clough and Joe Smazal of Interra Realty represented both the undisclosed seller and buyer in the transaction. The property features an elevator and a 12-car parking lot in the rear of the property. The unit mix includes one and two bedroom apartments with most featuring granite countertops, stainless steel appliances and cherry cabinets. The other mixed-use property at 113 N. Oak Park Ave. sold for $865,000. Smazal, Clough and Kennelly also represented the undisclosed seller and buyer in this transaction. The property features four apartments above a first floor retail space occupied by a restaurant tenant.
FLORISSANT, MO. — Mid-America Real Estate Corp. has brokered the sale of Shackelford Center located in Florissant, a suburb of St. Louis. Fair Oaks, Calif.-based The Carrington Co. purchased the 49,635-square-foot grocery-anchored shopping center. Shackelford Center is located at the southeast corner of Shackelford Road and Mullanphy Lane. Schnucks anchors the shopping center. Ben Wineman and Carly Gallagher of Mid-America Real Estate Corp. were the exclusive brokers in the transaction on behalf of a joint venture between San Antonio, Texas-based USAA Real Estate Co. and Clayton, Mo.-based The DESCO Group.
INKSTER, MICH. — Colliers International has arranged the sale of a 24,775-square-foot industrial building in Inkster, approximataely 21 miles southwest of Detroit. The property is located at 2830 Beech Daly Road. Jim Roberts and Christian Hill from Colliers International represented the seller, Thomas A. Depres Inc., and the buyer, Gold Wind Logistics LLC, a trucking company.
FORT LAUDERDALE, FLA. — Newgard Development Group and Menin Hospitality have launched Gale Boutique Hotel & Residences located at 2900 Riomar St. in Fort Lauderdale. The $120 million project will include the restoration of a historic 96-room hotel and the construction of an adjacent 128-unit condominium building. Newgard and Menin have partnered with Dev Motwani’s Merrimac Ventures in a joint venture arrangement for the development, which is slated to open in late 2016. Units are now available for reservation and priced from $385,000, with Newgard Realty overseeing the project’s sales and marketing efforts. The development will feature a roof-top sky deck, private lobby, fitness center and spa, concierge service, 24-hour valet parking and multiple resort-style pools. Individual condos will range in size from 780 square feet to nearly 2,000 square feet. All units will be delivered fully-finished, with gourmet kitchens, designer fixtures and cabinetry, spa-style bathrooms, customized flooring and walls and walk-in closets. Each residence will have floor-to-ceiling, impact-resistant glass doors and balcony space.
ATLANTA — Mercedes-Benz USA (MBUSA) has announced the permanent and interim locations for its new corporate headquarters in Atlanta. MBUSA, which is currently headquartered in Montvale, N.J., will construct a new headquarters facility on a 12-acre greenfield site located at the corner of Abernathy and Barfield roads in Sandy Springs, expected to be completed in early 2018. As part of the relocation, the automaker plans to hire hundreds of new employees from the Atlanta area at its new headquarters, which is set near the intersection of Georgia 400 and I-285. Beginning July 2015, the company will move into temporary office space at Sterling Pointe II, a 186,000-square-foot, Class A office building at the Perimeter Center complex in the neighboring city of Dunwoody.
ATLANTA — Novare Group and Batson-Cook Development Co. have broken ground on Atlantic House, a new 32-story luxury apartment tower located on the corner of 14th and West Peachtree streets in Midtown Atlanta. Designed by the architectural firm Smallwood, Reynolds, Stewart and Stewart, Atlantic House will feature elements of natural stone, precast concrete and glass. Atlantic House will feature two rooftop pools, a fitness center, clubroom, business center and outdoor patio space as well as a grilling area, tennis court and dog park on top of the attached parking garage. The project will also have 13,124 square feet of retail along 14th and West Peachtree streets. The luxury tower will have 407 units, ranging from studio to two-bedrooms that will feature nine-foot ceilings with floor-to-ceiling glass, granite countertops, hardwood floors, stainless steel appliances and ceramic tile. The top six floors will feature 68 one- and two-bedroom apartment homes featuring larger floor plans, 10-foot ceilings, quartz countertops, double-sink vanities and half baths. Novare Group and Batson-Cook Development are partnering with UBS Global Realty Advisors for Atlantic House. Wells Fargo is providing construction and permanent financing for the project, and NGI Investments LLC is providing equity. Batson-Cook Construction is the general contractor. …
GREENSBORO AND WINSTON-SALEM, N.C. — Greystone has provided $30.5 million in acquisition financing for four multifamily properties in the Piedmont Triad region of North Carolina. Vincent Langan of Greystone arranged the four Fannie Mae DUS loans on behalf of the borrower, Varden Capital Properties. The loan terms for all four properties include 10-year financing with 30-year amortization schedules and one year of interest-only payments. The apartment communities comprise a total 941 units and all offer amenities such as swimming pools, fitness centers, clubhouses and tennis courts. The properties in this portfolio include: Ashland Apartments in Greensboro; The Lakes on Meadowood in Greensboro; Ambercrest Apartments in Winston-Salem; and The Hunt Club Apartments in Winston-Salem.