HOUSTON — Rick Clark will join BMC Capital’s Houston office as a vice president. Clark brings over 20 years of commercial real estate financing experience to the job, all of it in the Southwest. Prior to joining BMC Capital, Clark worked for Realty Mogul, Integrity Bank and Washington Mutual. Clark is a key contributor on various panels and industry events, holds a CCIM designation and is a graduate of Texas Christian University.
MINNEAPOLIS, MINN. — Investor WNC has completed the conversion of a 106-year-old warehouse building to a 44-unit affordable housing community in Minneapolis. WNC provided nearly $4 million in low-income housing tax credit equity and historic tax credit equity to fund the adaptive reuse project. The Cameron Apartments, located at 756 N. Fourth St., features 23 studio units, 17 one-bedroom units and four two-bedroom units. The four-story building was originally constructed in 1910. Amenities at the apartment property include a fitness center, picnic and grilling area, laundry facility and bike storage. Unit amenities include appliances, secure intercom entry and a patio or balcony. SR Development LLC is the project developer.
FORT WORTH, TEXAS — Trademark Property Co. has signed two new tenants at WestBend, a 278,000-square-foot mixed-use development in Fort Worth’s University District. The two tenants, Ascension and Dear Hannah, will open this fall. Trademark has also closed on the acquisition of a 3.5-acre tract contiguous to WestBend. The acquired parcel is located on University Drive immediately south of WestBend, along the Trinity River. Conceptual planning is underway to develop additional mixed-use space featuring added ground floor retail, a hotel and multifamily units. A Hawthorn Suites occupies the site. Ascension, a Dallas Design District coffee and wine bar, will open a 2,420-square-foot store overlooking the Trinity River and Trinity Trails. Women’s clothing and accessories boutique Dear Hannah will open its third location in a 1,354-square-foot space. WestBend will be the first Fort Worth location for both tenants.
ST. PETERS, MO. — GBT Realty Corp. has unveiled plans to develop a $54 million retail center, the largest project of its kind in the St. Louis metro area since 2008. The Shoppes at Mid Rivers, which will be located on 28 acres in St. Peters, a northwestern suburb of St. Louis, is slated to open in late 2017. Current plans for the 300,000-square foot regional center include three anchor tenants, five to seven junior anchors, small shop space and four, one-acre outparcels. Demolition of existing buildings will start immediately upon acquisition of the site later this year.
MILTON, N.H. — Bedford, N.H.-based Eckman Construction Co. has begun site work and will soon commence construction on a new 9,000-square-foot fire and rescue station in Milton. Designed by Cowan-Goudreau Architects, the facility will include four apparatus bays and will be designed to accommodate a full-time staff with living quarters. Situated on a plot of land donated by the Downs family, the property will replace the 65-year-old current station.
SPRING, TEXAS — Cypressbrook Co. has selected Jim Cooper to lead the firm’s third-party property management and leasing division. Cooper was previously a broker and principal for Cypressbrook. He continues to be responsible for generating and executing opportunities for office and industrial clients. In his new role, Cooper will oversee both company-owned and other third-party office and industrial buildings. Prior to joining the Cypressbrook team, Cooper worked for Big City Properties where he solicited and executed direct residential and commercial listings for Freddie Mac, Fannie Mae, HUD and several area banks. Prior to that, Jim served as a business development representative at First American Title Co. in Houston.
CHALFONT, PA. — J.G. Petrucci Co. is breaking ground on Patriot Station at Chalfont, a luxury apartment community located at 14 Park Ave. at Chalfont. Slated to open in spring 2017, the property will feature 69 one- and two-bedroom apartment units with stainless steel kitchen appliances, quartz countertops and full-size washers and dryers in each unit. Additionally, the complex will feature on-site surface parking and a state-of-the-art fitness center. Minno & Wasko is serving as architect for the project.
LITHONIA, GA. — Wendover Housing Partners plans to begin construction in August on Granite Crossing, a $14.7 million, 75-unit apartment community that will anchor Lithonia Plaza in downtown Lithonia, a southern suburb of Atlanta. According to Wendover, the multifamily property will be the first major construction in the city since 2009. To make way for Granite Crossing, demolition has begun on an 80,000-square-foot, city-owned building that has been vacant since 2009. Wendover Housing partnered with the state of Georgia, Lithonia Downtown Development Authority, the city of Lithonia and Bainbridge GP LLC on the project. Residents are expected to occupy Granite Crossing next summer. The property will comprise one-, two- and three-bedroom apartments with monthly rents ranging from $620 to $800. Amenities will include a clubhouse with a fitness center, computer lab and an activity room for after-school programming. Other amenities include an outdoor splash park and playground equipment.
BOERNE and THE COLONY, TEXAS — Scooter’s Coffee will open two new locations in Texas. The coffee franchise has begun construction of an end-cap at 1 FM 3351, Suite 155 in the San Antonio suburb of Boerne. The 1,560-square-foot location will include a drive-thru and is projected to open in mid-August. The chain has also signed a lease for a drive-thru kiosk located on the southeast corner of South Colony Boulevard and Main Street in the Dallas suburb of The Colony. The 480-square-foot location is also projected to open in mid-August. The new locations will be Scooter’s sixth and seventh in Texas. Based in Omaha, Neb, Scooter’s Coffee operates more than 130 stores, with expansion plans for 40 more locations by the end of 2016. The company hopes to operate more than 500 stores by 2021.
FLORENCE, N.J. — NAI Mertz has arranged the sale of an industrial development parcel located at 400 Cedar Lane in Florence. First Industrial Realty Trust acquired the 33-acre site for an undisclosed price. Scott Mertz of NAI Mertz was the sole broker in the transaction. First Industrial Realty Trust has started construction of First Florence Logistics Center, a 577,200-square-foot, cross-docked distribution facility on the site. Slated for completion in the fourth quarter of 2016, the property will feature 36-foot clear ceilings and more than 100 loading docks.