HOUSTON — Marcus & Millichap has arranged the sale of Village Real shopping center, a 94,259-square-foot retail center in Houston. Jerry Goldstein of Marcus & Millichap’s Houston office arranged the sale on behalf of the seller, a local partnership. Goldstein also sourced the buyer, Dallas-based Dunhill Partners. The property is located at the intersection of Nasa Parkway and El Camino Real at 961 Nasa Parkway. It was built in 1976 on 4.4 acres and was renovated in 2008. Tenants include Office Depot, Half Price Books, Eduardo’s Mexican Restaurant, Subway, Nasa Liquor, Value Furniture, Masa Sushi, J.C. Jewelers and Hollywood Hair.
HOUSTON — Coldwell Banker Commercial United Realtors has arranged the sale of two retail centers in Houston in separate transactions. The first is a 4,800-square-foot building located at 3014 Scott Street near the University of Houston. Daniel Bekele of Coldwell Banker represented the seller, a law firm. Oscar Hoang of Annam Realty represented the buyer, an investor. The second is a 16,450-square-foot strip center located at 3922 Old Spanish Trail. Mark McGinley of Coldwell Banker represented the seller. Van Pham of Champions Real Estate Group represented the buyer, an investor.
BOSTON — New Boston Fund Inc., Asian Community Development Corp. (ACDC), New Boston’s Urban Strategy America Fund and Suffolk Construction have topped off the North Building of One Greenway, a mixed-income residential development located in Boston’s Chinatown neighborhood. The property, which is revitalizing an entire city block on Hudson Street, consists of two buildings bookended by an open space and new pedestrian connection between Hudson and Albany streets. Upon completion in summer 2015, the 312-unit North Building will offer 217 market-rate rentals and 95 affordable rental units. The second building, South Building, will offer 51 middle-income home ownership opportunities within a transit-oriented location. One Greenway received significant public support for its 146 affordable units from the Massachusetts Department of Transportation, the Department of Housing and Community Development, Department of Neighborhood Development and various other city and state agencies. Private investors and lenders include National Real Estate Advisors, PNC Bank, People’s United Bank, Property and Casualty Initiative, Boston Private Bank and RBC Capital Markets. Suffolk Construction is serving as general contractor for the project.
HUMMELSTOWN, PA. — A joint venture partnership between Heidenberg Properties Group, Norse Realty and Strategic Real Estate Partners has acquired Hershey Square Shopping Center in Hummelstown. Hershey Trust Company sold the property for $28.5 million. Developed in 1994, the 218,290-square-foot, supermarket-anchored center includes 30,600 square feet of in-line retail space and six outlots, including Applebee’s, Panera Bread and Verizon. Heidenberg Properties and its partners own and manage approximately 3.5 million square feet of retail, including several locations throughout Pennsylvania.
BOSTON — CBRE/New England’s Debt & Structured Finance group has secured acquisition financing for 100 High Street, a 28-story office building located in Boston’s Financial District. The 546,336-square-foot property is currently 64 percent leased to a variety of tenants, including technology companies, law firms and insurance companies. The borrower, CBRE Global Investors, plans to upgrade the property’s building systems and add its signature service and amenity program, including conference facilities and outdoor meeting areas. Carlos Febres-Mazzei, Kyle Juszczyszyn, Alex Bradley and Taylor Shepard of CBRE/NE secured the financing through GE Capital Real Estate.
CORTLAND, N.Y. — Binswanger has arranged the sale of a single-story industrial facility located at 3690 Luker Road in Cortland. Situated on approximately 24 acres, the 131,580-square-foot facility features an open floorplan, clear ceiling heights to more than 21 feet, wide-column spacing and heavy infrastructure loading, including 12,500-amp electrical service. Forkey Construction and Fabricating Inc. purchased the property, which was constructed in 1989, from BorgWarner Inc. for an undisclosed price. Jim Panczykowski of Binswanger’s New Haven, Conn., office brokered the transaction.
RAHWAY, N.J. — Terreno Realty Corp. has acquired an industrial property located in Rahway for approximately $7.2 million. Situated on 4.3 acres at 900 Hart St., the 84,000-square-foot building features eight dock-high and one grade-level loading positions. Additionally, the property is 52 percent leased to one tenant. Terreno Realty Corp. is an acquirer, owner and operator of industrial real estate in six major coastal U.S. markets: Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami and Washington, D.C./Baltimore. Additional details of the transaction were not disclosed.
ARLINGTON, VA. — Kettler is planning to develop an 11-story, 198-unit high-rise apartment community in Arlington’s Crystal City neighborhood known as m.flats Crystal City. Capital One is providing construction financing for the project. KTGY Group Inc. has designed m.flats Crystal City to meet LEED Silver certification. The transit-oriented development will be located one block from the Crystal City Metro station and will feature a resident lounge with a gaming area, fitness center, street-entry bike room, landscaped courtyard with fire and water features, outdoor seating and dining areas, outdoor kitchens and a swimming pool with a sundeck and cabanas. The project team includes civil engineer Bohler Engineering and general contractor John Moriarty & Associates. The property will be Kettler’s sixth multifamily project in the Crystal City/Pentagon City market. Kettler is expecting to break ground this month and wrap up in October 2016.
CHARLOTTE, N.C. — Batson-Cook Construction breaks ground on The Gibson, a 250-unit apartment community located at 1000 Central Ave. in Charlotte. The developer on the $25 million project is Pollack Shores Real Estate Group and the architect is Poole and Poole Architects. The apartment development will neighbor the historic Plaza Midwood and Elizabeth neighborhoods. Batson-Cook expects to deliver the mid-rise, infill apartment community in the fourth quarter of 2015.
SUNSET BEACH, N.C. AND NORTH MYRTLE BEACH, S.C. — Multi Housing Advisors (MHA) has brokered the sales of the 168-unit Tides at Calabash in Sunset Beach and the 172-unit Cherry Grove Commons in North Myrtle Beach. Hamilton Point Investments LLC acquired Tides at Calabash from Berkadia for $12.6 million and Cherry Grove Commons from Aspen Square Management for $15.1 million. Marc Robinson, Jordan McCarley and Watson Bryant of MHA’s Charlotte office represented the sellers in both transactions. The buyer didn’t use a broker in either transaction. The two properties are approximately 15 miles apart.