SPRINGFIELD, MO. — Denver-based Beacon Student Housing, which is partnering locally with developer Tim Roth, has broken ground on a 200-bed student housing project near Missouri State University. The 100,000-square-foot apartment development is comprised of two, four-story buildings, which will include one-, two- and four bedroom units. The design team includes Buxton Kubik Dodd Architects and General Contractor Build LLC. The project is slated for a summer 2014 opening.
EVANSTON, ILL. — Sporting two wind turbines, nearly 850 solar panels and a geothermal system burrowed 550 feet into the ground, Walgreens has opened what it believes is the nation’s first net-zero energy retail store in metro Chicago. The store is expected to produce energy equal to or greater than it consumes. Walgreens plans to achieve a net-zero energy building by utilizing solar panels, wind turbines, geothermal technology, energy-efficient building materials, LED lighting and ultra-high-efficiency refrigeration. The store is located in Evanston, at the intersection of Chicago Avenue and Keeney Street. The Chicago-area location allows easy access for Walgreens engineers based at the company’s headquarters in Deerfield, to measure the store’s performance for an entire year to determine if the store reaches its goal of net-zero energy use.
CHICAGO — The Boulder Group has arranged the $1.6 million sale of a single-tenant, net-leased 7-Eleven property in Chicago. The 3,200-square-foot retail building, located at 3005 N. Pulaski Road, was developed in 2013. The property is fully leased to 7-Eleven, which has 10 years of lease term remaining and a 10 percent rental escalation in 2018. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Midwest-based developer, in the transaction.
PHILADELPHIA — Radisson Blu has completed the $20 million renovation and conversion of the Radisson Blu Warwick Hotel in Philadelphia. The hotel marks the third Radisson Blu hotel in the United States, joining Radisson Blu Aqua Hotel in Chicago and the Radisson Blu Mall of America in Bloomington, Minn. The renovation of the 301-room historic hotel, situated in the Rittenhouse Square district, includes a redesign of all guestrooms and corridors, a new business class floor with a private lounge, as well as a new lobby. Jim Hamilton of interior design and graphics firm Graven Images designed the hotel. Originally opened in 1926, the hotel is listed on the National Register of Historic Places.
WARWICK, R.I. — Seavest Healthcare Properties LLC has completed the new $13.9 million, 62,724 square-foot Kent Ambulatory Services Pavilion in Warwick, about 15 miles south of Providence. The facility is located at 455 Toll Gate Road on the campus of Kent Hospital, part of the Care New England Health System. It houses a 31,000-square-foot ambulatory surgery center and medical office space for physicians. White Plains, N.Y.-based Seavest Properties III healthcare real estate fund owns the building, which is leased to Kent Hospital. The Washington, D.C., office of Trammell Crow Co. developed the building for Seavest. Steffian Bradley Architects of Boston designed the facility. Providence-based Dimeo Construction Co. was the general contractor.
PHILADELPHIA — Marcus & Millichap Capital Corp. (MMCC) has arranged a $5.3 million loan for the construction of a 40-unit apartment property in Philadelphia. The Mount Vernon Apartments development will convert a former industrial building into a multifamily property. MMCC arranged a five-year loan that includes a fixed interest rate of 4.75 percent.
BRUNSWICK, MAINE — New England Hotel Realty (NEHR) has arranged the sale of the 30-room Captain Daniel Stone Inn in Brunswick. The buyer, a global investment company, plans to renovate the property and develop additional guest rooms and an 1,800-square-foot health spa. The new owner, who owns the Troca Hotels collection, will also rebrand the Captain Daniel Stone Inn as part of his luxury collection after renovations are completed. NEHR represented the seller, a local lender, in the transaction.
THE WOODLANDS, TEXAS — A fund advised by CBRE Global Investors has acquired The Retreat at The Woodlands, a 240-unit multifamily property in The Woodlands. The Class AA, garden-style apartment complex is located at 4400 College Park Drive and features a clubhouse and units with granite countertops and stainless steel appliances. Houston-based development firm Allied-Orion sold the property, which was 95 percent occupied at the time of the sale.
WACO, TEXAS — Marcus & Millichap has brokered the sale of Woodland Springs Nursing Center, a 132-bed skilled nursing facility in Waco. The asset, located at 1010 Dallas St., sold for a price of $6.4 million. Rod Llanos of Marcus & Millichap marketed the property on behalf of the seller, a partnership. Llanos also secured the buyer, a limited liability company.
HOUSTON — Q10 | Kinghorn, Driver, Hough & Co. (KDH) has arranged $2.5 million in construction financing for a 37,000-square-foot office/warehouse development in Houston. The single-tenant property, to be located on three acres immediately south of George Bush Intercontinental Airport, will feature concrete tilt-wall panels, pre-engineered steel frame and 120-foot truck apron with loading docks and two 18 feet-by-18 feet doors. Matt Franke and Larry Peters of Q10 | KDH originated the loan through a regional bank.
