NEW YORK CITY — ARM Real Estate Group has arranged the sale of 476 Union Avenue in Brooklyn’s East Williamsburg neighborhood. 476 Union Avenue LLC, a local design and development firm, purchased the mixed-use property from a local family for $2.4 million. Constructed in 2004, the two-building, 4,243-square-foot property features three units in the front three-story building and one unit in the rear building. The buyer plans to demolish the rear building and extend the depth of the front building and add an additional floor or two to the existing structure. The property’s zoning allows for a retail use on the ground floor so the new owner plans to convert the ground-floor apartment into retail space. Anand Melwani and Harrisson Zavala of ARM Real Estate Group represented both parties in the transaction.
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TYNGSBORO, MASS. — Senate Construction Corp. has broken ground for an expansion at Jenike & Johanson’s global headquarters in Tyngsboro. Located at 400 Business Park Dr., the 14,000-square-foot expansion will increase the company’s facilities by 75 percent and will accommodate double the current engineering and advanced modeling and simulation staff. The new addition includes enclosed space, which the company plans to use to expand its testing laboratory with new equipment and staff. Enterprise Bank provided financing for the project, which is scheduled for completion in October.
NEW YORK CITY — Rosewood Realty Group has brokered the sale of 795 Flatbush Avenue in Brooklyn’s Flatbush neighborhood. Built in 1931, the three-story, 5,000-square-foot walk-up apartment building sold for $1.2 million. The property, which has 3,400 square feet of air rights, features four apartments and one commercial unit. Michael Kerwin of Rosewood Realty Group represented the buyer, 795 Flatbush Realty LLC, and the seller, Tanya And Angels LLC, in the transaction.
CARROLLTON, TEXAS — Dallas-based Amish Gupta Ventures plans to develop a 120,000-square-foot seniors housing facility on the northeast corner of the service road of Texas State Highway 121 and Creek Valley Boulevard in the Dallas suburb of Carrollton. The property will consist of two separate wings totaling 135 units and will sit on nearly 4.5 acres. Construction is scheduled to begin in late 2014. The first wing is planned to include 100 units in three stories with a mix of assisted living units and possibly some independent living units. The second wing will house 35 units with dedicated memory care services. Pre-leasing will begin in fall 2015, with residents moving into the facility in early spring 2016.
HOUSTON — Developer First Industrial Realty Trust has selected Cadence McShane Construction Co. to provide comprehensive construction services for a new 350,986-square-foot light industrial speculative facility known as First Northwest Commerce Center. Situated within the northwest Houston submarket and located just off of Beltway 8, the development will be constructed on a 24-acre site at 4800 W. Greens Road. First Northwest Commerce Center will feature 32-foot clear heights, 130-foot truck courts, 90 dock doors and available on-site trailer parking. Cadence McShane will incorporate modern features throughout the building, including T5 lighting, an ESFR sprinkler system, clerestory windows and skylights. The project will also feature surface parking areas to accommodate 258 vehicles. Munson Kennedy Partnership is providing the architectural services for this project, which is slated for single- or multi-tenant occupancy as early as fourth quarter 2014.
HOUSTON — Hunington Residential will construct a 352-unit community on an eight-acre site in Wolff Cos.’ Ten Oaks, an 82-acre mixed-use development in Houston’s Energy Corridor. The project will break ground during the third quarter of 2014 and deliver the first units by the summer of 2015. David Hightower, executive vice president of Wolff Cos., says, “The current office space construction in The Corridor translates into more than 25,000 new employees, which creates demand for approximately 5,000 new apartment units. Studies show that new entrants in the job market increasingly look for a residence that is within walking distance or a very short commute of their job. The Hunington Ten Oaks project’s proximity to the Medical Center West Campus, and large employers in Park Ten as well as other major employers in The Corridor, certainly meets that requirement.”
AUSTIN, TEXAS — Woodland Property Group has brokered the sale of a shovel-ready 6.3-acre tract of land with entitlements for a 168-unit garden-style apartment community. Located at 6500 Manchaca Road in the city's' South-Central submarket, the development will consist of seven three-story buildings and a two-story clubhouse. Blair Helgren with Woodland Property Group represented the seller, Whiddon Development Inc., and Brandon Miller with The Brandon Miller Group represented the buyer.
LOS ANGELES — Lev Restaurant Group has purchased four Southern California Jamba Juice stores from the Jamba Juice Company. The purchase price was not disclosed. The outlets are located in Sherman Oaks, Studio City and Encino. The company plans to invest additional capital into the stores, as well as introduce Jamba’s whole food blending and juicing menu. Lev Restaurant Group is the management company of FC Juice Partners LLC. It is the exclusive developer of Jamba Juice throughout the Las Vegas Valley. Juice Partners currently owns and operates 14 Jamba Juice locations, with additional locations under development. The transaction also requires Lev to develop a minimum of 10 additional Jamba Juice stores in adjacent Southern California territories. These include Altadena, Flintridge/La Canada, Van Nuys and North Hollywood. The sale is part of a re-franchising initiative as Jamba Juice moves toward a more franchise-operated business model.
BURBANK, CALIF. — Rexford Industrial Realty has acquired a 130,800-square-foot industrial property in Burbank for $15.4 million. The two-building property is located at 2980-2990 N. San Fernando Blvd. It is triple-net leased to Senior Aerospace. The seller was First Industrial. The buyer and seller were represented by John Minervini, Erik Larson, Robin Dodson, Chris Tolles, Jeff Chiate and James Carpenter of Cushman & Wakefield.
SAN DIEGO — SR Commercial has acquired Morena Business Center, a 62,814-square-foot flex/office project in the San Diego submarket of Rose Canyon/Morena District, for $9.2 million. The three-building property is located at 2620-2640 and 2645 Financial Court. Notable tenants include Destination Concepts, Europen Tile, American Geotechnical, Gemini Energy and Envision. Bryce Aberg, Brant Aberg and Brad Tecca of Cassidy Turley’s San Diego office represented both the buyer and the seller, Feher Family Trust, in this transaction. Holliday Fenoglio Fowler also provided $6 million in financing to SR Commercial.