OAKLAND, CALIF. — Quik Pick Express has leased a 42,000-square-foot warehouse in Oakland. The facility is located within the Elmhurst Business Park at 745 85th Ave. The third-party logistics company plans to expand its operation at the new facility. Harvest Properties, the asset manager for owner Principal Real Estate Investors, was represented by John McManus and Andrew Briner of Cushman & Wakefield’s Oakland office.
MIAMI — Newgard Development Group has started construction on the $170 million, 374-unit BrickellHouse, a 46-story condominium high-rise located at 1300 Brickell Bay Drive in Miami. Amenities will include a 46th-floor rooftop pool deck, luxury health spa, fitness center and a robotic parking garage system. The property is 94 percent pre-leased. Completion is slated for 2014.
DANIEL ISLAND, S.C. — Spectrum Properties Residential plans to build the 260-unit Simmons Park, a luxury apartment community located on Daniel Island. Amenities will include a pool area with a hot tub overlooking a lake, grilling area, fitness center, community room, yoga studio, covered parking, a cyber café, coffee bar and a business office. Completion is slated for 2014.
GAITHERSBURG, MD. — JBG Rosenfeld Retail and The Bozzuto Group have closed on the $28 million acquisition of 20 acres of land within the 182-acre Crown mixed-use development, located in Gaithersburg, to build the retail and multifamily project Downtown Crown. The property will include 260,000 square feet of retail space with 538 apartments. Harris Teeter has pre-leased 53,000 square feet of retail space and LA Fitness signed a 40,000-square-foot lease. The apartment units will be known as The Cadence at Crown, and amenities will include five courtyards, three outdoor kitchens, a pool, fitness center, yoga studio, business center, conference room and media theater. The first units are slated to open summer 2014. Northwestern Mutual is providing both an equity and a construction and permanent loan for the development of the apartment units. The companies plan to break ground later this summer.
FREDERICKSBURG, VA. — KeyBank Real Estate Capital has arranged two loans totaling $66.6 million through Fannie Mae for two multifamily properties, the 476-unit Manor at England Run and the 200-unit The Greens at Falls Run, located in Fredericksburg. The loans were used to repay two bridge loans totaling $62.55 million. Jeff Aycock of KeyBank arranged the seven-year, fixed-rate loans through Fannie Mae on behalf of the borrower, BPG Properties.
TAMPA, FLA. — Canyon Capital Realty Advisors has provided a $27.4 million senior loan to refinance GCAK Tampa’s assets in Grand Central at Kennedy, a mixed-use property located in Tampa. The property includes 392 residential condominium units, 110,000 square feet of ground-floor retail space and 70,000 square feet of office space. Robert Hernandez and Alison Williams of NorthMarq Capital arranged the loan, which will enable GCAK to complete the sales and marketing of the remaining condominium units and continue to lease up and build-out the remaining first-generation office and retail space.
BARBERTON, OHIO — Marcus & Millichap has arranged the $1.1 million sale of Heritage Place Senior Apartments in Barberton. The 66-unit property is located at 39 and 41 30th Street NW. Dan Burkons, Josh Wintermute, Michael Barron and Kurt Shoemaker of Marcus & Millichap represented the seller, a private partnership. Barron, Burknos and Wintermute also secured the buyer, a limited liability company.
MACEDONIA, OHIO — Goodman Real Estate Services Group has arranged the sale of The Crossings at Golden Link, a 254,848-square-foot shopping center along Aurora and Northfield roads in Macedonia. The property is anchored by Target and Lowe's Home Improvement. Kyle Hartung of Goodman Real Estate represented the seller in the transaction. The buyer was a private real estate investment company.
BEDFORD, IND. — Chase Properties has acquired Williams Crossing, a 50,000-square-foot shopping center in Bedford, located 25 miles south of Bloomington. Tenants at the center include Dollar Tree, Maurices and Shoe Show. Josh Caruana of Marcus & Millichap represented the seller, Horne Properties, in the transaction.
NEW YORK CITY — SBE and Moin Development Corp. are teaming up to build a new SLS Hotel in New York, the first in the city for the luxury brand. Crews will convert an existing office building into a 190-room hotel located at 444 Park Ave. South in Manhattan. The hotel will also feature bar venues in the lobby and a restaurant concept on the rooftop. It will be the third SLS Hotel in the U.S. and is slated to open by 2013. The reported cost of construction is $85 million