WESTPORT, CONN. — The Kowalsky family of Westport has sold The Village, a 90,000-square-foot shopping center in Westport, for $54.3 million to Equity One Inc. As one of Westport’s longtime landowners, the Kowalsky family broke ground on the site in 1969 and completed construction on the center in 1974. The Fresh Market anchors the four-building retail center, which is located on 7.5 acres along both sides of Post Road East. Other tenants include Dunkin’ Donuts, Little Gym, The UPS Store, KOKO Fit Club and SweetFrog. Jon Angel, president, and Brett Sherman, senior vice president of Angel Commercial LLC, a Southport, Conn.-based commercial real estate brokerage firm, represented the seller in the transaction.
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NEW YORK CITY — Madison Realty Capital (MRC) has provided a $7.5 million first-mortgage loan to finance the completion and opening of a 60-room boutique hotel in the Bushwick neighborhood of Brooklyn. The partially complete 23,719-square-foot hotel collateralized the loan, which is located at 19 Bogart St. In addition to 60 hotel rooms, the property will feature four ground-floor retail units. Proceeds from the loan will be used to retire existing debt, fund remaining construction costs and cover closing expenses.
THE COLONY, TEXAS — ARA has brokered the sale of Bristol Oaks, a 304-unit, Class A multifamily property in The Colony, a suburb of Dallas approximately 25 miles north of downtown. The community, which includes one-, two- and three-bedroom units plus amenities such as a putting green, playground area and resort-style pool, was 93.5 percent occupied at the time of the sale. Built in 1998, the property is located at 4777 Memorial Drive. Brian O’Boyle Sr., Brian O’Boyle Jr. and Brian Murphy of ARA marketed the asset on behalf of the seller, The Pinnacle Family of Companies. Cortland Partners, an Atlanta-based real estate investment firm, purchased Bristol Oaks.
CIBOLO, TEXAS — Blakeley Commercial Real Estate (BCRE) has brokered the sale of 23.9 acres in Cibolo, a northeastern suburb of San Antonio, to Walmart. The buyer plans to construct a new 189,000-square-foot Walmart Supercenter on the land. The project will break ground in the next few weeks. Lynn Blakeley of BCRE represented the undisclosed seller in the transaction.
HOUSTON — National apartment developer and operator Mill Creek Residential plans to break ground on Premier Medical Center, a 265-unit multifamily property within the Texas Medical Center (TMC) complex, in the next month. The studio, one- and two-bedroom apartments will be built around a concrete parking garage and offer easy access to the MD Anderson Cancer Center and the 51 other medical, academic and research institutions within the TMC, which employ more than 92,000 people. The first move-ins at Premier are expected in April 2015. Mill Creek Residential currently has two other multifamily communities under construction in Houston, Sola Uptown River Oaks and Astor Tanglewood.
ARLINGTON, TEXAS — Brokerage firm Lee & Associates has arranged the lease of 60,812 square feet of industrial space in Arlington for Masco Corp., a manufacturer of household products such as cabinetry, windows and faucets. The warehouse property is located at 841 N. Great Southwest Parkway, approximately 15 miles west of downtown Dallas. Nathan Denton of Lee & Associates represented the tenant in the negotiations, while landlord Prologis was represented internally by Cody Riles.
LOVELAND, COLO. — Healthcare Realty Trust has purchased North and South Medical Office Buildings, a 150,291-square-foot medical office campus in Loveland, for $55 million. The campus is connected to the Medical Center of the Rockies, which is situated at 2500 Rocky Mountain Ave. within the master-planned community of Centerra. Loveland is located in northern Colorado's Front Range region. Healthcare Realty was represented by Rick Calhoun and Henry Wojdyla of NAI Shames Makovsky National Healthcare Acquisitions Group. The seller, MCR-MOB I, LLC and MCR-MOB II, LLC, was represented by McWhinney, the project’s developer.
BELL GARDENS, CALIF. — The Bicycle Casino Hotel in Bell Gardens is set to receive a new $45-million hotel. The 100-roomluxury hotel project will be located at the corner of Bicycle Casino Drive and Eastern Avenue. It is scheduled for completion in the first quarter of 2015. The 117,907-square-foot hotel will feature a bakery/cafe, restaurant, penthouse nightclub, roof-top, open-air gaming area, health spa, fitness center and swimming pool with cabanas. It is being built by R.D. Olson Construction. The Bicycle Casino is currently the largest employer in Bell Gardens.
GLASSELL PARK, CALIF. — Goodwill Industries of Southern California has subleased 102,284 square feet of big-box retail space in Glassell Park from Home Depot. The space is located at 3150 San Fernando Road. It has been vacant for 10 years. The property will be utilized as a central hub for Goodwill once renovations are complete. Home Depot was represented by J. Richard Leyner and Michael Haim Sharon of NAI Capital’s Encino office.
SAN DIEGO – A new 1-million-square-foot Naval Hospital has debuted at Camp Pendleton in San Diego. The new Marine Corps Base hospital is replacing an older facility that was built in 1974 near Lake O’Neil. The $456-million hospital will employ about 1,100 physicians, nurses and support personnel. It will serve about 70,000 active-duty and veteran military members, as well as their families. The hospital was built by Clark Construction Group, LLC, and McCarthy Building Companies. It was designed by HKS Architects.