LAKEWOOD, COLO. – A trio of apartment buildings located on Allison Street in Lakewood have sold to an unnamed buyer for $1.7 million. The communities are located at 1160, 1180, & 1198 South Allison Street. They comprise a total of 19,656 square feet, and all three were built in 1962. The buyer was represented by Matt Lewallen and Kevin Calame of Pinnacle Real Estate Advisors. The unnamed seller was represented by Matt Ritter, also of Pinnacle.
CONCORD, N.C. — The Silverman Group, a New Jersey-based real estate investor and developer, is constructing a 400,000-square-foot speculative industrial building within Concord Airport Business Park in Concord. The cross-dock building will be located on 56 acres and feature 36-foot ceiling heights, 40 docks, 100 trailer parking spaces, an ESFR sprinkler system, T5 lighting and office space. Construction is slated to begin in the first quarter of 2014 with completion slated for late summer. The site will also feature a pad-ready, 125,000-square-foot industrial building adjacent to the main building. Christopher Skibinski of Avison Young’s Charlotte office has been retained as the leasing agent for the project.
LARGO, FLA. — Pollack Shores Real Estate Group has broken ground on Gateway North, a new luxury apartment community at 2681 Roosevelt Blvd. in Largo. The 342-unit community is within walking distance to retail, dining and transportation. The community will feature a lake, walking trail, resort-style clubhouse, pool, cabanas, fitness center, business center and an outdoor grilling/entertainment area. Occupancy will begin in spring 2014 with final completion slated for fall 2014. Matrix Residential will lease and manage the community.
ORLANDO AND COCOA BEACH, FLA. — The Shopping Center Group has finalized the sale of two central Florida shopping centers totaling $10.8 million. The properties include a Starbucks Coffee-anchored retail center near Walt Disney World Resort that sold for $3.3 million. The property is fully leased to tenants such as Subway, Tennis Plaza and three local businesses. The Shopping Center Group represented the seller, an affiliate of Tiforp Development, in the sale to a foreign investor. The Cocoa Beach property is a Publix-anchored neighborhood center that sold for $7.5 million. The property, known as Banana River Square, is 89 percent leased and is located in Cocoa Beach’s Space Coast neighborhood. The Shopping Center Group represented the seller, an affiliate of Columbus, Ga.-based Victory Real Estate Investments, in the transaction. An affiliate of Publix Supermarkets Inc. purchased the property. The two transactions bring The Shopping Center Groups’s Florida investment division’s total aggregate volume for 2013 to $130 million.
TAMPA, FLA. — HFF has arranged a $16.4 million refinancing for Wildwood Acres, a 340-unit multifamily community located at 13418 Dottie Drive in Tampa. The community is 99 percent occupied and includes one-, two-, three- and four-bedroom layouts. The complex’s amenity package includes two swimming pools, a laundry facility, picnic areas and a dog park. Elliott Throne, Todd Adams and Matt Mitchell of HFF arranged the seven-year loan through Freddie Mac’s CME program.
ROCKVILLE, MD. — Federal Realty Investment Trust has received approval from the Montgomerty County Planning Board for additional development at Pike & Rose, a 3.4 million-square-foot mixed-use, transit-oriented development under construction. Pike & Rose is located in the White Flint District of Montgomery County in Maryland. The approval will allow Federal Realty Investment Trust to add about 1.6 million square feet of commercial space to the 170,000 square feet of retail, 80,000 square feet of office space and 493 residential units currently underway, set to open in mid-2014. The approval includes six new city blocks, Rose Park, a boutique hotel with 200-300 rooms, about 200,000 square feet of additional retail space, more than 460 residential units and 1.4 million square feet of Class A office space. Federal Realty expects to break ground on some of the additional approved buildings in 2014.
CLEVELAND, OHIO — Cuyahoga County has selected Hilton Worldwide to operate a 600-650 room convention center hotel that is currently under development in downtown Cleveland. The hotel will feature subterranean links to the Global Center for Health Innovation and the new convention center, which is also under development. The hotel will also feature approximately 55,000 square feet of meeting space, a full-service restaurant, lobby bar, an indoor pool and fitness center. The new convention center hotel is scheduled to open by 2016. Cuyahoga County is the owner of the hotel, which financed the project through a combination of tax-exempt bonds and other tax-revenue sources. VOA Associates and Atlanta-based Cooper Carry are the joint architectural firms involved in the project and New York City-based Andersen-Miller is managing the interior design.
LAKE FOREST, ILL. — Balfour Beatty Campus Solutions has completed the new $16 million Moore Hall redevelopment at Lake Forest College in suburban Chicago. The project began in August 2012 with the demolition of the previous Moore Hall structure. Construction on the new 62,000-square-foot building began in September 2012 and was completed in August. The 165-room student housing property includes two-bedroom, two-bath suites, as well as single-bedroom with bath floor plans. The north and south wings are connected by a midsection that contains a central lobby, laundry room, kitchen, multipurpose rooms and two elevators. Chicago-based architect Solomon Cordwell Buenz designed the new Moore Hall. Walsh Construction, also out of Chicago, was the construction and demolition partner on the project.
CHICAGO — Reed Construction has completed a 32,000-square-foot build-out for the Academy of General Dentistry (AGD) in Chicago. AGD purchased the building at 560 W. Lake St. in Chicago’s West Loop and is relocating its headquarters from 211 E. Ave. Reed Construction was selected to complete an interior build-out for AGD on the sixth and seventh floors of the property. The new space features include an open wood beam and column loft space with glass-front, private offices. The office also includes eight conference rooms, four team collaboration areas, a video production area and a design production room. AGD is a professional association of more than 38,000 general dentists providing dental care and oral health education to the public. IA Interior Architects provided the architectural services for the project.
CHICAGO — Kiser Group has arranged the sale of four apartment properties in Chicago totaling $9.2 million. The properties include a 14-unit building in Humboldt Park, a five-unit property in Lakeview, a 32-unit building in Old Irving Park and a 35-unit building in Rogers Park. The building at 1713-15 N. Humboldt Blvd. sold for $1.9 million and includes a mix of two- and three-bedroom units. The property located at 3437 N. Paulina St. sold for $1 million, and 4014-22 W. Melrose St. sold for $1.9 million. The 35-unit apartment building at 7522 W. Greenview Ave., which includes 25 parking spots, sold for $2.4 million.