VICTORIA, TEXAS — Houston-based Ascension Commercial Real Estate has begun construction of a 240-unit, Class A apartment complex in Victoria. The AcreRidge Victoria Apartments will be located at the intersection of Zac Lentz Parkway and Mallette Street near the Victoria Mall and Victoria Country Club. The complex will offer one-, two- and three-bedroom floor plans ranging from 628 to 1,273 square feet. Amenities will include a pool with outdoor grills, business center and conference room. Occupancy at the new apartments will be available in early 2015. San Antonio-based Galaxy Builders is the general contractor. Houston-based Mucasey & Associates is the architect for the project.
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HOUSTON — D’Agostino Cos. has broken ground on The Offices at Sam Houston, a four-story office building in Houston. The offices will be located at 10203 Sam Houston Park Drive inside the Sam Houston Crossing Business Park. The project is schedule to be completed in June 2015 and is 60 percent pre-leased to Caterpillar Inc. and Solar Turbines Inc. The remaining 46,000 square feet is available for lease. The Class A, 113,363-square-foot office building will feature tilt-wall construction and a single-level parking structure with covered access to the building. D’Agostino will seek LEED Silver certification for the building. Steve Rocher, Kristen Rabel and Parker Duffie with CBRE’s Houston office are marketing the property on behalf of the landlord. Metzger Construction Co. is the general contractor and Browne McGregor Architects is the architect.
RALEIGH, N.C. — The Dilweg Cos. has acquired a 12-building, 773,000-square-foot portfolio of office and flex properties in Raleigh for $89.5 million. The properties include Park Forty Plaza, RDU Center II and III, NorthPark I and II, five north Raleigh flex properties known as One North Commerce Center and two flex properties in Cary known as MacGregor Place. The acquisition brings Dilweg’s Southeast portfolio to 4.7 million square feet. Ryan Clutter, formerly of CBRE, led the transaction on behalf of the seller along with Ben Kilgore and Patrick Gildea of CBRE.
RICHMOND, VA. — Cushman & Wakefield | Thalhimer has brokered the $40.7 million sale of 11 office buildings in Richmond’s Innsbrook submarket. The 359,000-square-foot portfolio was sold in two separate transactions to two buyers. Westdale Real Estate Investment and Management purchased West Shore I, II and III, as well as Grove Park I in the Concourse at Wyndham development located off of Nuckols Road. Lingerfelt Cos. purchased the remaining assets in Innsbrook Corporate Center, including Vantage Pointe, Vantage Place A-D and Technology Park I and II. Eric Robinson of Cushman & Wakefield | Thalhimer’s Richmond office represented the unnamed seller in both transactions.
POMPANO BEACH, FLA. — Marcus & Millichap has brokered the $22.5 million sale of Whispering Isles, a 300-unit apartment community located at 250 W. Sample Road in Pompano Beach. The community’s amenity package includes two swimming pools, a fitness center, clubhouse, laundry facility and on-site management. Tal Frydman, Derek Gibbs and Daniel Cunningham of Marcus & Millichap represented the buyer, a private investor, in the transaction.
ORLANDO, FLA. — The Orlando office of ARA has arranged the $19.5 million sale of Highland Pointe, a 272-unit multifamily community located in Orlando’s Southeast/Airport submarket. The property, completed in 1986, consists of one-, two- and three-bedroom units with an average unit size of 975 square feet. Kevin Judd, Patrick Dufour and Richard Donnellan of ARA represented the seller, TIAA-CREF, in the transaction. Tampa-based Robbins Property Associates purchased the asset for roughly $71,691 per unit.
CARROLLTON, GA. — RCG Ventures’ Fund III has acquired Tower Plaza, an 89,880-square-foot shopping center in Carrollton, roughly 47 miles west of Atlanta. The property’s tenant roster includes Ollie’s Bargain Outlet, Badcock Home Furniture & More, Hibbett Sports and Family Dollar. Kyle Stonis and Pierce Mayson of SRS Real Estate Partners represented the unnamed seller in the transaction. RCG Ventures was represented internally by Scott Tarbet.
NEW YORK CITY — Silvershore Properties, a mid-market investor in Manhattan and Brooklyn, has completed the disposition of 101 Delancey Street. Located on Manhattan’s Lower East Side, the six-story, mixed-use property sold for $17.3 million. The property features 20 rental apartments and five retail spaces with 86 feet of frontage on Delancey Street. The property was delivered to the buyer, 101 Delancey Realty LLC, vacant.
KING OF PRUSSIA, PA. —A fund advised by CBRE Global Investors has acquired a single-tenant grocery property in King of Prussia. Located at One Village Dr., the grocery property is occupied by a 147,456-square-foot Wegmans, which is under a 25-year ground lease. Constructed in 2012, the store is a prototype design for the grocer, which has 83 stores across the Northeast. The Wegmans parcel is the first phase of The Village at Valley Forge, a 101.55-acre mixed-use development that will feature lifestyle retail, apartments and office/medical office properties, as well as a children’s hospital. This is the fund’s second retail acquisition in the Northeast; the fund acquired Porter Square Galleria in Cambridge, Mass., earlier this year.
PLYMOUTH, MASS. — Burlington, Mass.-based KeyPoint Partners has opened a satellite office at Colony Place in Plymouth. The commercial real estate service firm, which manages Colony Place, has moved its staff and services to the existing management office at the center from its former Middleboro, Mass., office. Located off Route 44 near Route 3, the largest open-air shopping center southeastern Massachusetts offers more than 850,000 square feet of retail space. The tenant roster includes Walmart, Dick’s Sporting Goods, DSW, Best Buy, Bed Bath & Beyond, ULTA, Talbots and LOFT, among others.