SOUTH MIAMI, FLA. — Construction will begin this summer on Metro South Senior Apartments, a 91-unit independent living community located at the northwest corner of Sunset Drive and S.W. 61st Avenue in South Miami. Beneficial Communities, the developer, recently received approval for the development from the city of South Miami. The seven-story community will include a leasing office and commercial space on the ground floor and tenant amenities on the second floor. Amenities will include a café, game room, theater, fitness center, laundry facility and an integrated four-story parking garage. The design team includes architect and interior designer Forum Architecture & Interior Design Inc., general contractor Siltek Group Inc., structural engineer ONM&J Inc., MEP engineer Joseph Lawrence & Co. LLC and civil engineer Develotec Inc.
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AIKEN, S.C. — JLL has arranged the $28.9 million sale of Hitchcock Plaza, a 252,097-square-foot shopping center in Aiken. Inland Real Estate Group purchased the asset from Hendon Properties. The shopping center’s tenant roster includes Ross Dress for Less, T.J. Maxx, Bed Bath & Beyond, Old Navy and Academy Sports + Outdoors. Margaret Caldwell and Kris Cooper of JLL represented Hendon Properties in the transaction.
SANDY SPRINGS AND CONYERS, GA. — HFF has arranged the $25.8 million sale of The Village at Millers Chapel and Trowbridge Crossing in metro Atlanta. The two Publix-anchored shopping centers total approximately 137,000 square feet combined. BIG Shopping Centers purchased both assets from Atlanta-based Columbia Properties Inc. Richard Reid and Jim Hamilton of HFF led the sales team in representing Columbia Properties in the transaction. HFF also arranged acquisition financing through Lincoln Financial Group for the The Village at Millers Chapel purchase. The Village at Millers Chapel at 2159 GA Highway 20 in Conyers was built in 2012 and is currently 98 percent leased to tenants including Publix and Kauffman Tire. Trowbridge Crossing at 7507 Roswell Road in Sandy Springs was renovated in 2013 and is 96.4 percent leased to Publix and the US Post Office.
SNELLVILLE, GA. — Shane Investment Property Group has brokered the $4.6 million sale of Scenic Square, a 70,060-square-foot shopping center in Snellville, a suburb of Atlanta. The center is 87 percent leased and is anchored by Michael’s, which recently signed a 10-year lease renewal. Elliott Kyle of Shane Investment Property Group represented the buyer, Adams Scenic Square LLC, in the transaction. Dan Cooper of Cooper Commercial Investment Group represented the seller, Cincinnati-based Viking Partners. Sam Perlman of Adams & Co. Real Estate will handle the leasing for Scenic Square going forward.
CINCINNATI — Hybrid Capital, a New York-based full service commercial mortgage brokerage and advisory firm, has arranged $4.6 million in financing for the acquisition of three medical office properties in greater Cincinnati. The 30,000-square-foot Mercy Health Systems portfolio consists of three buildings, located at 10663 Montgomery Road and 12115 Sheraton Lane in Cincinnati and 328 Thomas More Parkway in Crestview Hills, Ky. The portfolio is 100 percent occupied by Mercy Health’s Cincinnati Sports Medicine and Orthopedic Center. The 10-year, fixed-rate loan was arranged through StanCorp Mortgage Investors on behalf of Med Cincinnati 3 LLC. Mercy Health Systems is a subsidiary of Ohio-based Catholic Health Partners.
WEST COLUMBUS, OHIO — Friedman Integrated Real Estate Solutions has arranged the sale of a multifamily community in West Columbus for an undisclosed price. Havenwood Townhomes, an affiliate of The Romney Group, purchased the former Metro West Apartments, a 1,200-unit apartment complex located at 4312 Westport Road. Havenwood has plans for a multi-million-dollar interior and exterior renovation of the apartment site. Barry Swatsenbarg and Rich Deptula of Investment and Loan Sale Advisory Services represented the seller in the transaction.
MILWAUKEE — The Dickman Co. Inc./CORFAC International has brokered the sale of a 42,550-square-foot industrial building in Milwaukee. The property is located at 7221 W. Parkland Court. Empower Properties LLC purchased the building from Parkland Court Enterprises. Samuel M. Dickman Jr., Samuel D. Dickman and Nick Keys of The Dickman Co. represented the seller in the transaction. Rand Wolf of The Boerke Co. Inc. represented the buyer.
CARMEL, IND. — Lee & Associates has arranged a lease of a 2,430-square-foot retail space for Huntington National Bank N.A. The space is in the Providence at Old Meridian building, located at 12505 Old Meridian St. Scot Courtney and Bart Jackson of Lee & Associates represented the tenant. Gary Perel of Newmark Knight Frank Halakar represented the landlord, Providence HUD LLC.
NEW YORK CITY — Tishman Speyer has acquired the rights to develop a 2.85 million-square-foot tower in Midtown Manhattan’s Hudson Yards District through the completion of multiple transactions. The company purchased adjacent, undeveloped parcels from Manhattan-based Sherwood Equities for $200 million. The parcels total an entire block stretching from West 34th to West 35th streets and 10th Avenue to the to-be developed Hudson Park and Boulevard. The assemblage combined with the ability to purchase additional development rights available within Hudson Yards offers Tishman Speyer the opportunity to develop and construct a 2.85 million-square-foot tower in Manhattan’s expanded west side neighborhood and business district. The Hudson Yards district, which was rezoned in 2005, allows for 26 million square feet of office space, 20,000 new residential units, 2 million square feet of retail space and 3 million square feet of hotels.
WESTHAMPTON BEACH, NEW YORK — Rechler Equity Partners has broken ground for the development of The Hampton Business District at Gabreski Airport, a new mixed-used park in Westhampton Beach. Situated on 50 acres, the 440,000-square-foot project kicks off with the construction of 220 Roger’s Way, a 60,000-square-foot industrial building. Additionally, the to-be-built office and medical buildings at 205 and 215 Roger’s Way will total 60,000 square feet. The project will also feature a 145-room hotel, a restaurant, a daycare center, a health club and a bank. Upon completion, the business district will offer space ranging from 1,333 to 100,000 square feet.