AKRON, OHIO — Co-developers, Akron-based LRC Realty and Hallmark Campus Communities, are developing University Edge, a 578-bed community focused on the students of the University of Akron.Delivering fall 2014, University Edge is located across the street from campus and will feature many amenities and two-bed, two-bath, three-bed, three-bath, and four-bed, four-bath furnished floor plans. University Edge will also include several thousand square feet of ground floor retail consisting of national and local retailers and restaurants. Peak Campus Management will manage the project. The University Edge leasing center will open early fall 2013.
OMAHA, NEB. — Promontory Healthcare Cos. and Lund-Ross Constructors broke ground on a $6.3 million transitional care center in the Old Mill area of Omaha. Construction on Old Mill Rehabilitation is expected to last 12 months, with an opening scheduled for spring 2014. Once complete, the facility will provide transitional rehabilitation services and be a licensed skilled nursing facility. The 40,000-square-foot facility will feature 44 private suites and common areas including a great room, dining room, library and chapel. Physical therapy rooms, nursing stations and administrative space will also be located on the grounds. Mainland Healthcare Development LLC will be in charge of development. Ankrom Mosian Architects is serving as the project architect. Lamp Rynearson & Associates is serving as civil engineer. Great Western Bank will provide construction financing. Lund-Ross Constructors will act as general contractor, and Promontory Healthcare Cos. will operate Old Mill Rehabilitation.
ELMHURST, ILL. — NAI Hiffman represented Bridge Development Partners in securing two lease renewals totaling 14,903 square feet of office space at 501 W. Lake St. in Elmhurst. Anderson Pest Control has renewed its 9,829-square-foot lease, and Patterson Medical, a provider of rehabilitation products, renewed its lease for 5,074 square feet. The offices are located within the Corporate Plaza of Elmhurst, which is 96 percent leased. The building offers docks and drive-in doors and tenant-controlled HVAC and security. Dan O’Neill, Steve Connolly and Jeff Fischer of NAI Hiffman represented the landlord in both transactions, while Tim Carlson of Cresa represented Patterson Medical.
NEW YORK CITY — Clarion Partners LLC has acquired 100-104 Fifth Ave., a 277,412-square-foot Midtown South property, from the Kaufman Organization and Invesco Real Estate for $225 million, according to Bloomberg News. Kaufman Organization will serve as the property’s exclusive leasing and management agent. Studley’s capital transaction group brokered the sale. Currently 100 percent leased, the property is in close proximity to Union Square, public transportation, green space, entertainment and an array of services.
NEW YORK CITY — RFR Holding LLC has closed $100 million in financing for 345 Park Avenue South in New York City. Citibank arranged the 10-year CMBS transaction. Located in Midtown South, 345 Park Avenue South is completely occupied by Digitas, a digital marketing firm owned by Publicis Groupe, which has leased the property through 2021. The property offers street-level retail space, which is currently occupied by two bank branches and a restaurant.
NEW YORK CITY — Marcus & Millichap has arranged the sale of a 7,320-square-foot, mixed-use property located at 5902 5th Ave. in Brooklyn for $1.7 million. Erik Lundberg and John Brennan of Marcus & Millichap’s Brooklyn office represented the seller, a private investor, in the transaction. Dolly Amigon of Marcus & Millichap’s Brooklyn office represented the buyer, also a private investor.
NEW YORK CITY — Hudson Realty Capital LLC has provided a $14.5 million construction loan for a project in the SoHo neighborhood of New York City. The loan is being used for the construction of an eight-story, 24,274-square-foot multifamily building located at the Broome Street and Sixth Avenue intersection. The property will feature a total of 12 luxury two-bedroom units, averaging 1,406 square feet per unit and spanning across 16,870 square feet. Additionally, the building will include 7,404 square feet of community space on the basement, first- and second-floor levels, which is ideal for a school. The residential units will have their own lobby.
TEXAS — Gander Mountain, an outdoor equipment retailer based in St. Paul, Minn., has plans to open four new stores in Texas this fall. The four stores will be located in Lewisville, Mesquite, Round Rock and San Antonio. The Lewisville store will be located at 723 Hebron Parkway in the Lakepointe Towne Crossing Shopping Center and will span 45,000 square feet. The Mesquite store will be home to the first Gander Mountain Firearms Super Center in Texas. The 31,000-square-foot store will be located at 3775 Childress Ave. The Round Rock store will span 49,000 square feet and be located in the Round Rock Shopping Center at 3021 S. Interstate 35. The San Antonio store will also span 49,000 square feet and be located in the Westover Marketplace Shopping Center at 8203 State Highway 151. The retailer expects to create approximately 350 jobs with the new stores.
COLLEGE STATION, TEXAS — CBRE'S National Retail Investment Group has arranged the sale of Bryan Towne Center, a 52,268-square-foot retail center in College Station. New Jersey-based Lamar Cos. purchased the property, which is 66 percent leased to retailers such as Dollar Tree, Rack Room Shoes, Maurice's and rue21. The center is also shadow-anchored by Target. Chris Cozby, Chris Gerard and Kevin Holland of CBRE represented the seller, a subsidiary of BMO Harris Bank N.A., in the transaction.
MARBLE FALLS, TEXAS — The Scott & White Specialty Clinic-Marble Falls, a 66,000-square-foot medical office building (MOB) in Marble Falls, has opened for business. Scott & White Healthcare partnered with the Dallas office of Duke Realty to develop the three-story medical office building, which is located on the campus of a planned 46-bed hospital in Marble Falls. The MOB will house multiple primary care and specialty and diagnostic clinics. Duke Realty Limited Partnership owns the property. The project team includes architect Jacobs Engineering Group and general contractor DPR Construction.