EDMOND, OKLA. — Disney Investment Group (DIG) has arranged the sale of Bryant Square shopping center in Edmond, Okla., just north of Oklahoma City. Bryant Square spans more than 275,000 square feet and tenants include Bed Bath & Beyond, Ross Dress for Less, Old Navy, Stein Mart, Famous Footwear and Petco. The center is located at the southeast corner of Bryant Avenue and Second Street in Edmond. David Disney of DIG brokered the sale of Bryant Square to an undisclosed institutional buyer and worked with representatives of CBRE’s office in Conshohocken, Pa.
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SEABROOK AND LA PORTE, TEXAS — JLL has announced the development of an industrial facility for third-party logistics firm Gulf Winds International and a lease expansion at a separate facility for a combined 543,000 square feet. Jeff Venghaus and Ryan Fusellier represented Gulf Winds in both leases. The deals include a new 10-year lease in a 243,000-square-foot build-to-suit on 12 acres in Seabrook, Texas. The facility is slated for delivery at the end of 2014. The other deal is a lease expansion of 300,000 square feet 10 miles away at 359 Old Underwood Road in La Porte, Texas. With the development of the new 243,000-square-foot facility, Gulf Winds will have 460,000 total square feet adjacent to the Bayport Terminal.
AUSTIN — Berkadia Commercial Mortgage LLC has arranged a $56.5 million loan through Fannie Mae for the acquisition of the Retreat at Barton Creek in Austin. Jackson Cloak worked with the principals of the borrowing entity to originate the 10-year, fixed-rate financing. Additional loan terms include three years of interest-only payments and a 30-year amortization schedule. The complex is 97 percent occupied. A partnership of investors with Paydar Cos. and Lankford & Associates purchased The Retreat at Barton Creek. The property is located at 3816 S. Lamar Blvd. and sits on 30 acres along the Barton Springs Greenbelt. The 600 apartments comprise a total rentable space of 426,000 square feet. Amenities include a pool and spa, sundeck, clubhouse and gym.
DALLAS — Trammell Crow Co., along with partners Clarion Partners and Rosewood Property Co., have acquired a 97-acre site in the Southern Dallas industrial submarket. The project will feature two Class A speculative industrial developments comprising more than 700,000 square feet. The project is expected to be completed in the second quarter of 2015. The site is located at the northwest corner of I-20 and I-45, with direct access to the I-20 frontage road. The first building will total 201,600 square feet, while the second building will span 500,000 square feet. Scott Krikorian, Robert Brandt, Jake Marks and Raymond Kieffer of Trammell Crow will lead the development team. Kacy Jones and John Hendricks of CBRE’s Dallas office will handle leasing.
DORAL, FLA. — Miller Construction Co. breaks ground on Gateway Center Doral, an 84,000-square-foot mixed-use development in the metro Miami city of Doral. The $9 million project will feature retail and high-end boutique office space in Doral’s N.W. 87th Avenue retail and restaurant corridor. The project team includes developer DBH Properties Ltd. and architect DYNAMICA ARCHITECTURE + INTERIOR DESIGN. Miller Construction expects to deliver the property in spring 2015.
HYATTSVILLE, MD. — ECHO Realty LP and its partner The Bernstein Cos. have broken ground on The Gateway at University Town Center, an 83,400-square-foot mixed-use property in Hyattsville. The two-story asset will be located at the intersection of East-West Highway and America Boulevard. The property will be anchored by a 54,400-square-foot Safeway and feature tenants such as Unleashed by Petco, Phenix Salon and an undisclosed medical office practice. ECHO has selected Facchina Co. Inc. as the site work contractor for the development and will select a general contractor for the development in the near future.
CHARLOTTE, N.C. — Trinity Capital Advisors has purchased two office buildings in Toringdon Office Park (Toringdon 3 and 5), a six-building office park in south Charlotte. Trinity Capital now owns the entire office park, including 12 acres of land and a three-level parking garage. Trinity Capital purchased Toringdon 3 and 5 in a joint venture with Stockbridge Capital. The 527,392-square-foot park is leased to 16 tenants, including Nationwide Insurance, Ally Bank and Verizon Wireless. Trinity Capital also plans to develop a 175,000-square-foot, Class A office building at the park. Trinity Partners is responsible for the leasing and property management of Toringdon Office Park.
LARGO, FLA. — Marcus & Millichap has arranged the $18 million sale of Bay Pointe Apartments, a 417-unit multifamily community in Largo, part of the Tampa Bay area. The property is located at 2770 Roosevelt Blvd., within two miles of the St. Petersburg-Clearwater International Airport. The property features a tennis court, business center and two swimming pools. Francesco Carriera and Michael Regan of Marcus & Millichap’s Tampa office represented both the buyer and the seller in the transaction.
UNIONDALE, N.Y. — Arbor Commercial Funding LLC has funded six loans totaling $31.1 million for apartment properties in North Carolina and Kentucky. Michael Zysman of Arbor Commercial Mortgage originated all six loans. The loans included: · a 10-year, $7.5 million Fannie Mae DUS loan for the acquisition of the 250-unit Bella Vista Apartments in Gastonia, N.C. · a 10-year, $5 million Fannie Mae DUS loan for the acquisition of the 196-unit Wingate Place Apartments in Charlotte · a 10-year, $5 million Fannie Mae DUS loan for the acquisition of the 176-unit Highlands Apartments in Charlotte · a seven-year, $4 million Fannie Mae DUS ARM loan for the acquisition of the 192-unit Hanover Landing Apartments in Charlotte · a 10-year, $2.3 million Fannie Mae DUS loan for the acquisition of the 98-unit Four Seasons Townhomes in Greensboro, N.C. · a 10-year, $2 million Fannie Mae DUS Small Loan refinance for an unnamed 66-unit asset in Winston-Salem, N.C. · a 10-year, $1 million Fannie Mae DUS Small Loan refinance for an unnamed 48-unit asset in Winston-Salem, N.C. · a two-year, $4.3 million Arbor Realty Trust Bridge Loan for the acquisition of an unnamed 252-unit property in Lexington, Ky.
NEW YORK CITY — Teaneck N.J.-based Treetop Development has completed two transactions in New York City. In the first transaction, Treetop Development, along with its partner, Latus Partners, sold a four-building rental portfolio to E&M Associates for $29 million. The portfolio consists of 82 two- and three-bedroom apartments and 11 commercial spaces located at 1917 Seventh Ave., 110 St. Nicholas Ave., 120 West 116th St. and 100 West 116th St. Aaron Jungreis of Rosewood Realty Group brokered the transaction. Treetop Development utilized the first transaction as a springboard to acquire an apartment portfolio located on Adam Clayton Powell Boulevard in Harlem. The company purchased the portfolio of 41 rental homes and six commercial spaces from Sugar Hill Capital Partners for $11.25 million. The properties are located at 2261 Adam Clayton Powell Blvd., 2267-2269 Adam Clayton Powell Blvd., 2271-2273 Adam Clayton Powell Blvd. and a vacant lot at 2265 Adam Clayton Blvd. Peter Vanderpool of Cignature Realty served as broker for the transaction, while Efram Friedman of Herrick Feinstein provided legal counsel to Treetop Development.