COCONUT CREEK, FLA. — Alliance Residential has broken ground on the $58 million, 396-unit Broadstone Cypress Hammocks, a luxury apartment community located at 5201 W. Hillsboro Blvd. in Coconut Creek. Amenities will include a two-story clubhouse with a cyber cafe and fireplace, a fitness center with a studio, a spa treatment room, an entertainment room with billiards, video games and gaming tables, a pool with cabanas and a pool pavilion with a bar, fireplace and pool table, a playground and a dog park. The first units are slated for completion in the first quarter of 2013 with full completion scheduled for April 2014.
MORRISVILLE, N.C. — Wood Partners has started construction on the $34 million, 260-unit The Bristol, an apartment complex located at 3016 Bristol Creek Dr. in Morrisville. The complex will be located in the 100-acre Park West Village, a mixed-use development that will include up to 550,000 square feet of retail space and 120,000 square feet of office and/or hotel space. WP East Builders is the general contractor for the project, Cline Design Associates is the architect and Prudential Real Estate Investors is the equity partner. Amenities will include a clubhouse with a cyber cafe, a fitness center, a billiards/game room, a salt water pool, cabanas with grilling stations, a dog park and a car care center. The first units are slated for completion in February 2013 with full completion scheduled for the end of 2013.
ATHENS, ALA. — The 79,700-square-foot Eastside Junction, located in Athens, has sold for $11.45 million. Publix anchors the center, which is 95 percent leased. Drew Fleming and Mark Joines of Cassidy Turley's Atlanta office represented the seller, a private developer, and procured the buyer, Inland Real Estate.
CORAL GABLES, FLA. — The 35,313-square-foot Gables Granada Plaza, an office building located at 770 S. Dixie Hwy. in Coral Gables, has sold for $7.5 million. Stephen Heim of Fort Lauderdale, Fla.-based NAI Rauch Weaver Norfleet Kurtz & Co. represented the seller, Gables Granada Plaza, Inc., in the transaction. Bill Bailey and Thad Adams of The Allen Morris Company represented the buyer, Steiner Management Services.
DULUTH, GA. — Studio Movie Grill has signed a 44,945-square-foot lease to build a 10-screen, in-theater dining concept at Venture Pointe Shopping Center, located at 3900 Venture Pointe in Duluth. Kyle Luby and Ben Hautt of Atlanta-based Stream Realty Partners represented the tenant in the transaction. Brixmor Property Group, the landlord, was self-represented by Tracey Lojek. The theater is scheduled to open in late summer 2012.
CHICAGO — Jeff Cherner of NorthMarq Capital's Chicago office has arranged $58.5 million in mortgage financing for 400 S. Jefferson in Chicago. Sterling Bay Cos. is renovating the office property, which is located at the southwest corner of Jefferson and Van Buren streets. Bank of America provided the three-year, floating-rate loan. Funds from Heitman Capital Management and the ownership were used to close the acquisition of the existing facility in February. Bank of America is providing the construction loan. The renovation of the building, which is slated for completion later this year, will include a new exterior, new building systems and a green rooftop deck.
CARMEL, IND. — Lakes of Carmel, a 324-unit apartment community located on Arbor Drive in Carmel, has sold to a private entity for an undisclosed amount. Carmel is located immediately north of Indianapolis. Steve LaMotte, Dane Wilsona and Dave Lockard of CBRE's Indianapolis office represented the seller, a private entity, in the deal.
JENNINGS, MO. — City Gear, an apparel retailer, has signed a lease for 9,000 square feet at Buzz Westfall Plaza on the Boulevard, located at 8005 West Florrisant in Jennings. Grant Mechlin of Sansone Group represented the landlord, Sansone Plaza on the Boulevard LLC, in the deal.
WESTFORD, MASS. — Red Hat has signed a build-to-suit development and lease extension at Westford Technology Park in Westford. The Gutierrez Co. will expand the software company's existing 75,000-square-foot building at 314 Littleton Rd. by an additional 100,000 square feet. The new addition will include four floors of office space. Construction is slated for completion in 2013. John Wilson, Brian McKenzie and James Lipscomb of Richards Berry Joyce & Partners represented the building owner, Gutierrez Co., in the deal. Jones Lang LaSalle represented the tenant.
MANCHESTER, N.H. —Linear Retail Properties has acquired a 9,870-square-foot shopping center at 926-952 South Willow St. in Manchester for $4.3 million. The center is fully leased to four tenants: Chipotle Mexican Grill, Mattress Giant, U.S. Cellular and Hannoush Jewelers. Rich Rostoff of Spectra Realty represented Linear Retail in the deal. Martin O'Boyle was the seller.