LAWRENCE, KAN. — The BA Green / Weitz joint venture team has broken ground on two new Daisy Hill Residence Halls for the University of Kansas at 1600 Stewart Drive in Lawrence. The new $41 million residence halls will replace the 50-year-old McCollum Hall, which will be demolished following the completion of the new halls. The new buildings will feature a two-story common area and be flanked by two five-story residence towers with two- and four-person suites. The new residence halls are slated for a August 2015 opening. The University of Kansas Design Construction Management department in collaboration with KU Student Housing will manage the design and construction process along with project architect Treanor Architects.
Property Type
CIRCLEVILLE, OHIO — Marcus & Millichap has arranged the $2 million sale of Twin Oaks Apartments, 60 apartment units and four retail spaces in Circleville, a southern suburb of Columbus, Ohio. The 61,208-square-foot property, built in 1978, is located at 935 S. Court St., about 30 minutes south of Columbus. A local group purchased the property. Michael Barron, Dan Burkons, Josh Wintermute, Jordan Marshall and Richard Lattro of the Barron, Burkons, Wintermute Group of Marcus & Millichap, as well as Mark Lovering and Brett Hatcher, also with the firm, marketed the property on behalf of the seller.
BROADVIEW, ILL. — Reliable Industries has sold its 16,600-square-foot manufacturing facility at 1920 Beach St. in Broadview. Indian Joe Properties purchased the building, which is now fully leased by custom closet designer Crooked Oak. Duke Botthof and Steve Sullivan with NAI Hiffman’s industrial services group represented Reliable Industries in the transaction. Dave Prioletti of CBRE represented the buyer.
FAIRFIELD, CONN. — Regency Centers Corp. has closed on a $150 million, three-property acquisition in Fairfield. As previously reported in December, the company has acquired an 80 percent majority stake in a portfolio of centers — Black Rock Shopping Center, Brick Walk, and Fairfield Center — as a part of a joint venture with local real estate developer Kleban Properties. Together, the three centers feature 315,000 square feet of mixed-use space, with the retail portion representing 73.5 percent of portfolio revenues. The largest center, Brick Walk, boasts 121,000 square feet of retail, office and residential space. The 92,000-square-foot Fairfield Center is located one block from the Metro North rail station on the New Haven line into New York City. The third property, Black Rock Shopping Center, includes 98,000 square foot of retail space and is anchored by Old Navy, GAP, Massage Envy, and Carter’s stores. All properties are currently fully leased.
PHILADELPHIA — Harbor Group International has funded an $8 million mezzanine loan for the purchase of Charter Court Apartments in Philadelphia. An affiliate of Treetop Development purchased Charter Court, a 496-unit apartment property that includes two 11-story buildings, for $47.3 million. The multifamily community amenities include a resort-style pool area, business center, fitness center, pet spa and a doorman.
NEWTON, MASS. — Bierbrier Development Inc. has broken ground on Needham Street Village Shops, a 19,200-square-foot retail development located at 55 Needham St. in Newton. Needham Street Village Shops will be LEED Silver-certified and ready for occupancy by this summer. The retail center will also feature 79 parking spaces. Bowdoin Construction is serving as the general contractor, Prellwitz Chillinski Associates is the project architect and Atlantic Retail Properties is the leasing agent for the property.
DREXEL HILL, HAVERTOWN AND LANDSDOWNE, PA. — Marcus & Millichap Capital Corp. (MMCC) has arranged $4.9 million in financing for four multifamily properties totaling 90 units throughout Pennsylvania. The properties include 4200 Woodland Ave. and 3823 Garrett Road in Drexel Hill; 1333 East Darby Road in Havertown; and 4-8 Owen Ave. in Lansdowne. The loan-to-cost ratio was 80 percent.
COLLEGE STATION, TEXAS — Satterfield & Pontikes Construction (S&P) will begin this month on the $46 million expansion and renovation of the Student Recreation Center at Texas A&M University’s College Station campus. The project will add more than 113,000 square feet — including additional weight room space, two basketball courts and a lap pool — to the current facility. S&P will also upgrade the existing natatorium, activity spaces and office areas, which total 55,000 square feet. The center, which serves nearly 1.5 million users annually, will remain open during construction. Marmon Mok Architecture is providing design services.
LEWISVILLE, TEXAS — Bob Moore Construction has broken ground on a new 421,000-square-foot flex space complex in the Dallas suburb of Lewisville. Flooring Services Inc., a family of companies that has provided flooring and other interior building products in Texas, Oklahoma and Louisiana since 1983, will consolidate its various businesses at the property, which also includes room for future growth. The two-building development comprises 204,350 square feet of warehouse space, 57,688 square feet of corporate offices and a 54,350-square-foot showroom, all within Building A; and 105,400 square feet of manufacturing space in Building B. The facilities are slated for completion in the first quarter of 2015. Pross Design Group, based in Dallas, is serving as architect on the project.
HOUSTON — HFF has brokered the sale of Gulf Plaza, a 120,651-square-foot office building in Houston’s Energy Corridor. Located at 16010 Barkers Point, in proximity to State Highway 6 and I-10, the property is fully occupied by Gulf Interstate Engineering. The six-story structure underwent nearly $1 million in renovations in 2012, when the tenant renewed its lease. Dan Miller and Martin Hogan of HFF represented the seller, Hartman Gulf Plaza Acquisitions LP. The buyer, Hartman Income REIT, was represented internally by Julian Kwok and Dave Wheeler.