WAYNE, PA. — The Davis Cos. and MIM-Hayden Real Estate Funds plan to invest $16 million in building renovations to redesign two existing buildings at 530 and 580 E. Swedesford Road in Wayne. The owners plan to transform the property into 272,000 square feet of trophy-class office space known as CrossPoint at Valley Forge. CrossPoint will feature a conference center, 4,000-square-foot fitness center and a full-service cafe. Construction will begin this fall.
PLAINVIEW, N.J. — NorthMarq Capital has arranged $6 million for the first mortgage refinancing of Morton Village Plaza, a shopping center located at 998-1064 Old Country Road Plainview. Tenants at the 115,976-square-foot center include Shop Rite, CVS/pharmacy and Chase Bank. Melissa Quinn and Robert Rothaug of NorthMarq arranged the 10-year loan through a life insurance company.
DALLAS — McCarthy Building Cos. has been awarded a $23 million, design/build facilities project at the U.S. Department of Veterans Affairs (VA) Dallas Medical Center. The project is the company's first stand-alone, combined heat and power (CHP) cogeneration (COGEN) facility.The project will include a new electrical building and turbine shelter.
FORT WORTH — The UNT Health Science Center and Brookdale Senior Living have been awarded a $7.3 million Health Care Innovation award from the U.S. Department of Health and Human Services for a program to reduce hospital re-admissions of seniors housing residents. The Brookdale Senior Living Transitions of Care Program, a partnership between the UNT Health Science Center, Florida Atlantic University and Brookdale Senior Living, will begin in Brookdale's Texas and Florida facilities. The program could reduce hospital re-admissions by 11.2 percent and save Medicare $9.3 million.
NORTH RICHLAND HILLS — Dallas-based Realty Capital Management has brokered the sale of 13 acres in HomeTown, a mixed-use Traditional Neighborhood Development in North Richland Hills, to Dolce Living Hometown. Dolce plans to build a 315-unit multifamily community on the site.
FORT WORTH — The Laundry, a dry-clean drop-off station owned and operated by Fort Worth businesswoman Marilyn Bevan, has plans to open a 963-square-foot location at West 7th, a mixed-use development located at the southeast corner of University Drive and West 7th Street in Fort Worth. The facility will also house a tailoring shop that will be managed by Reata Alterations owner Brian Overstreet. Frank Bullock and Carey Shagets of SRS Real Estate Partners represented the landlord, Cypress Equities, in the lease transaction. Rodger Chieffalo of Chieffalo Realty represented the tenant.
REDLANDS, CALIF. — Continental Tire North America has signed a 24-month lease renewal for 497,714 square feet of industrial space in Redlands. The facility is located at 27223 Pioneer Ave. Continental Tire has fully occupied this site since 2009. The company was represented by Frank Geraci, Walt Chenoweth, Juan Gutierrez and Patrick Wood of Voit Real Estate Services’ Inland Empire office. The landlord, Prologis, represented itself in this lease transaction.
MOORPARK, CALIF. – A 21,505-square-foot industrial property in Moorpark has sold to Cosaro and Tagliati Trusts for $3 million. The property is located at 5245 Maureen Lane. It was constructed within a master-planned business park built in the 1990s. The trusts were represented by Timothy Foutz of NAI Capital’s Encino office. The seller was F&B Industrial Investments, and LLC.
SAN FRANCISCO — A four-unit apartment building in San Francisco has sold to a partnership for $1.55 million. The community was built in 1900 and is located at 1201 Guerrero Street. John Antonini of Marcus & Millichap’s San Francisco office represented both the buyer and the seller, an individual/personal trust, in this transaction.
MARGATE, FLA. — North American Development Group (NADG) has acquired the 236,679-square-foot Lakewood Shopping Center, located on West Atlantic Boulevard in Margate, for $31.5 million. Marshalls, Ross Dress For Less and Staples anchor the center. Also included in the sale were outparcels occupied by Walgreens, Burger King, Applebee's and Bank of America. A Walmart Supercenter, TD Bank, Boston Market, Denny's and a McDonald's on the property are separately owned and were not included as part of the sale. Casey Rosen, Dennis Carson and Nikolas Kozy of CBRE Group's Atlanta office represented the seller, a wholly owned subsidiary of Inland American Real Estate Trust, in the transaction.