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.
NEW YORK CITY — HFF has closed the $35 million sale of a 9,875-square-foot development site in Manhattan’s Hudson Yards neighborhood. HFF worked on behalf of the seller, a subsidiary of Lehman Brothers Holdings Inc. New York-based real estate developer David Marx purchased the land parcel, located at 448-452 11th Ave. and 556 W. 37th St. Andrew Scandalios and Jose Cruz, senior managing directors, and Jeffrey Julien and Kevin O’Hearn, managing directors, led the HFF team representing the seller.
LIVINGSTON, N.J. — Marcus & Millichap has arranged the $6.3 million sale of a 38,864-square-foot office property in Livingston. David Kelso, an associate director at Marcus & Millichap, marketed the property on behalf of the seller and represented the buyer in the transaction. The office building is located at 301 S. Livingston Ave. and is within walking distance to area amenities, including restaurants, dry cleaners and Kings Supermarket.
CHELMSFORD, MASS. — The RAM Cos. has acquired a 91,476-square-foot office/lab property in Chelmsford, located about 30 miles northwest of Boston. The purchase price was undisclosed. Medical device company Arrow Interventional Inc., a wholly owned subsidiary of Teleflex Inc., fully occupies the property. Renovated in 2013, the building is situated on 5.7 acres at 16 Elizabeth Drive.
HOUSTON — NAI Houston has brokered the sale of a 302,800-square-foot industrial property at 6501 Navigation Blvd. in Houston’s Downtown Eastside Industrial submarket. The building, a warehouse facility situated on 21.5 acres, houses multiple tenants. Clay Prichett of NAI Houston represented the buyer, Quasar Navigation LTD. Jim Foreman and Beau Kaleel of Cushman & Wakefield represented the seller, GSL Navigation SUB 34 LLC.
MESQUITE, TEXAS — ARA has brokered the sale of Trinity Place Apartments, a 267-unit, Class B multifamily community in Mesquite, a suburb approximately 12 miles east of downtown Dallas. The apartments, which average 987 square feet each, were 92 percent occupied at the time of the sale. Originally constructed in 1985, the property features elevators in each of its residential buildings. Richard Furr, Brian O’Boyle Sr. and Brian Murphy of ARA marketed the asset on behalf of the seller, the name of which was not disclosed.