OSSINING, N.Y. — The Independent Development Agency of Westchester County has approved a $94 million affordable housing project in Ossining, about 35 miles north of Manhattan. The site at 30 Water St. formerly housed the operations of Village Department of Public Works. The new development will consist of two buildings with 109 units that will be reserved for households earning between 30 and 80 percent of the area median income. Floor plans will include 40 one-bedroom units, 60 two-bedroom apartments and nine three-bedroom residences, and the property will also house 3,745 square feet of retail space and 3,968 square feet of community meeting space. Amenities will include a rooftop deck, fitness center and onsite laundry facilities. Locally based firm WBP Development LLC will develop the property. Construction is scheduled to begin in October and to be complete in 2027.
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BEDFORD, MASS. — A partnership between Boston-based Camber Development and Connecticut-based Wheelock Street Capital has completed a 147,000-square-foot industrial and life sciences project in Bedford, about 20 miles northwest of Boston. The project represents Phase I of a larger manufacturing campus known as 44 Middlesex, and the second phase will also center on the delivery of a 147,000-square-foot building. Construction of that facility is expected to begin in 2025 and to last about a year. Both buildings will be two-story structures and will have 105,000 square feet on the ground floor and a 42,000-square-foot mezzanine space on the second floor, as well as clear heights of 36 feet. Newmark is the leasing agent for the development.
NEW BRUNSWICK, N.J. — JLL has arranged a $13.6 million acquisition loan for a 35,800-square-foot industrial outdoor storage facility located outside of Trenton in New Brunswick. The site spans 6.4 acres and houses three buildings totaling 10,300, 19,500 and 9,000 square feet. Buildings feature 24- to 28-foot clear heights and a combined 26 dock positions. Michael Klein, Max Custer and Benjamin Morgenthal of JLL arranged the three-year, floating-rate loan through Byline Bank on behalf of the borrower, regional investment firm Ridgecut Road.
TREXLERTOWN, PA. — Colliers has brokered the $5.4 million sale of Shepherd’s Corner, a 9,512-square-foot retail strip center in the Lehigh Valley community of Trexlertown. The center was fully leased at the time of sale to tenants such as Supercuts, The UPS Store, Not Just Bagels and Capriotti’s Sandwich Shop. Derek Zerfass and Jeff Algatt of Colliers represented the undisclosed seller in the transaction. Robbie Stephens of Rudy Amelio Real Estate represented the buyer, a high-net-worth individual who also requested anonymity.
ELLABELL, GA. — VanTrust Real Estate has sold Building C of Interstate West, an approximately 1.2 million-square-foot industrial facility located near the Port of Savannah in Ellabell. Transwestern Investment Group (TIG) purchased the property from VanTrust for an undisclosed price. Britton Burdette, John Huguenard, Matt Wirth, Dennis Mitchell and Jim Freeman of JLL represented VanTrust in the transaction. Located at 77 Logistics Drive, Building C is fully leased to Webstaurant Store Inc., a subsidiary of Clark Associates Inc. Built in 2022, the property features 185-foot truck court depths, 212 dock-high doors, four drive-in doors, 244 auto spaces and 270 trailer spaces. VanTrust is also underway on a 2 million-square-foot build-to-suit project for retailer Burlington within the 515-acre Interstate West industrial park.
WEST CALDWELL, N.J. — NAI DiLeo-Bram has negotiated the sale of a 30,000-square-foot industrial building in the Northern New Jersey community of West Caldwell. The buyer, 85°C Bakery Café, will use the space for warehouse and distribution purposes to support its new retail locations that are opening in Cherry Hill and East Hanover in the coming weeks. David Simon and Kyle Gerace of NAI DiLeo-Bram represented the owner-occupant in the transaction. The seller and sales price were not disclosed.
PANAMA CITY BEACH, FLA. — Topgolf plans to open a new two-level venue in Panama City Beach. The new Topgolf will be situated along Powell Adams Drive adjacent to Pier Park. The location will feature 74 outdoor, climate-controlled hitting bays across two levels, as well as a restaurant, bar, 22-foot video wall, more than 140 TVs and an outdoor patio. Set to open in summer 2025, the new property will be Topgolf’s 10th venue in the state and first in Florida’s Panhandle. Topgolf expects to employ roughly 275 to 300 staffers once fully operational.
NASHVILLE, TENN. — Ascendant Development has delivered Haven at Charlotte, an 11-story apartment tower located at 3025 Charlotte Ave. in Nashville. The 369-unit community is situated adjacent to the HCA headquarters campus and the OneC1ty mixed-use development. Haven at Charlotte features seven residential levels atop a four-story parking podium, with apartments ranging in size from 516 to 1,472 square feet. Monthly rental rates range from $1,605 to $3,800, according to Apartments.com. Amenities include a fitness center, yoga and spin room, outdoor kitchen area, infinity-edge saltwater pool and a rooftop clubroom/lounge.
Smith Hill, Bain Capital Provide $57M Loan for Embassy Suites by Hilton Nashville Airport Hotel
by John Nelson
NASHVILLE, TENN. — A joint venture between Smith Hill Capital and Bain Capital has provided a $57 million loan for Embassy Suites by Hilton Nashville Airport, a 305-room hotel in Nashville. Eastdil Secured arranged the financing on behalf of the borrowers, Affinius Capital and Westmont Hospitality. The hotel sits close to Nashville International Airport, downtown Nashville and the One Century Place Conference Center. Amenities at the hotel include an airport shuttle, fitness center, business center, indoor pool, complimentary evening reception and more than 6,000 square feet of meeting space.
HINESVILLE, GA. — Branch Properties has acquired 9.7 acres for Flemington Village, a 57,851-square-foot shopping center to be developed in Hinesville, approximately 40 miles southwest of Savannah. A 46,791-square-foot Publix will anchor the center, which is scheduled for completion in the third quarter of 2025. The property will also feature 11,060 square feet of inline retail space and an outparcel.