DALLAS — Duro Hospitality, the group behind brands such as The Charles, Mister Charles, Café Duro, Casa Duro and El Carlos Elegante, will open a new, 7,500-square-foot restaurant in the Preston Center area of North Dallas. The name and concept behind the restaurant were not disclosed, but the space is located on the ground floor of 8111 Douglas, a 225,000-square-foot office building owned by Lincoln Property Co. The restaurant opening is slated for late 2025.
DELRAY BEACH, FLA. — A joint venture between Certares and TMGOC Ventures has purchased The Ray Hotel, an upscale, 141-room hotel in Delray Beach, a coastal city in South Florida’s Palm Beach County. The seller and sales price were not disclosed. Alexandra Lalos Church, Zak Brodstein and Lauren Habig of Hodges Ward Elliott represented the seller in the transaction. Delivered in September 2021, The Ray is part of Hilton’s Curio Collection of high-end hotels. The property offers amenities including a rooftop restaurant and bar, rooftop pool deck, 1,800-square-foot fitness center and a modern event space. The Ray’s three full-service eateries include restaurants from Michelin-star chef Akira Back and Campi Italian, a concept from New York-based Host Restaurants.
ATLANTA — The Athlete’s Foot, a shoe and sports apparel retailer with 400 stores in 24 countries, has opened its corporate headquarters and flagship store in Midtown Atlanta. The retailer’s new home at 931 Monroe Drive also includes a community center component that will serve as “cultural hub” for community engagement. The Athlete’s Foot’s new headquarters and flagship store is situated along the Atlanta BeltLine adjacent to Piedmont Park. Project partners included prominently Black-owned companies, including T. Dallas Smith & Co. (real estate advisor), J.M. Lee Construction Co. (general contractor) and Aysha Pennerman (mural artist).
APEX, N.C. — Madison Capital Group has obtained $34.3 million in construction financing for a new apartment development in the metro Raleigh-Durham area. Affiliate firm Madison Communities is planning the 218-unit community, which will be named Madison Aquiline and will be located in Apex. Warren Johnson and Travis Anderson of JLL arranged the loan through Centennial Bank on behalf of Madison Capital. Madison Aquiline will feature an integrated clubhouse with a fitness center and a resort-style pool and pool deck with grilling stations and a fire pit. Other amenities will include a café island with a wet bar, cyber lounge, flexible workspaces and a coffee bar. The construction timeline was not disclosed.
JACKSONVILLE, ALA. — Marcus & Millichap has brokered the sale of Jacksonville Crossing, a 56,401-square-foot shopping center located at 1555 Pelham Road S in Jacksonville, a city in northeast Alabama. The sales price was not disclosed. Philip Levy and Zach Taylor of Marcus & Millichap represented the seller and secured the buyer, both of which are private investors that requested anonymity. Eddie Greenhalgh served as Marcus & Millichap’s broker of record in Alabama for the transaction. Situated about 36 miles from Talladega Superspeedway, Jacksonville Crossing was 67 percent leased at the time of sale to tenants including Dollar Tree, Baja California Grill, Cricket Wireless and Five Below, which recently signed a new 10-year lease at the center.
MIAMI BEACH, FLA. — Women’s undergarment apparel retailer Victoria’s Secret has signed a lease to occupy 8,000 square feet on Lincoln Road, a high street retail corridor in Miami Beach. Jonathan Carter and Ryan Brodsky of Colliers represented the landlord, ALTO Real Estate Funds, in the long-term lease negotiations. Brandon Nocella of Strategic Retail Advisors represented the tenant. The store at 900-904 Lincoln Road will serve as the new flagship location in the city for Victoria’s Secret, which is relocating from an adjacent location at 901 Lincoln Road. The specialty retailer is backfilling space formerly occupied by Aerie and Express.
NEW YORK CITY — SCALE Lending, the debt financing arm of Slate Property Group, has provided a $135 million construction loan for 261 Grand Concourse and 315 Grand Concourse, two adjacent multifamily projects that will be located in the Mott Haven area of The Bronx. The two buildings will rise 14 stories and house 405 units between them. Residences will come in studio, one- and two-bedroom floor plans, and the development will also include 136 parking spaces and a 5,100-square-foot shared recreation space. Landstone Capital arranged the 24-month loan on behalf of the developer, Beitel Group, which acquired the sites in April 2022 and subsequently demolished existing structures. Completion is slated for late 2025.
GLASSBORO, N.J. — Inland Private Capital Corp. and Devon Self Storage, which are both part of The Inland Real Estate Group of Cos., have completed an 870-unit facility in Glassboro, about 25 miles south of Philadelphia. The site at 124 Delsea Drive S formerly housed the facilities of Liscio’s Bakery. The two-story, elevator-served facility features 86,700 net rentable square feet of 100 percent climate-controlled space and includes a vehicle drive-thru area with high-speed roll-up doors, as well as multiple unloading locations and epoxy finished flooring.
WESTPORT, CONN. — Marcus & Millichap has brokered the sale of a 28-unit apartment complex located about 50 miles northeast of New York City in Westport. The Westporter was built in 2019 and includes both flat- and townhouse-style units, as well as four ground-floor retail spaces. Eric Pentore, Victor Nolletti, Wes Klockner and Ross Friedel of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
NEW YORK CITY — CBRE has arranged a 22,530-square-foot office lease at 111 Fifth Avenue in Manhattan’s Flatiron District. The tenant, beverage provider Vita Coco (NASDAQ: COCO) will relocate its corporate headquarters from 250 Park Avenue to the entire second floor of the 13-story building, which was originally constructed in 1895. Jason Frazier and Jesse de la Rama of CBRE represented Vita Coco in the lease negotiations. The Winter Organization owns the building.