OLDMANS TOWNSHIP AND FLORENCE TOWNSHIP, N.J. — NFI, a supply chain solutions provider, has added two new facilities to its industrial portfolio in New Jersey. In Oldmans Township, the company completed the development of a distribution center spanning more than 1 million square feet. The build-to-suit for Five Below broke ground in September 2014. The facility serves as Five Below’s core eastern U.S. distribution center, servicing more than 300 retail store locations in the region. Additionally, NFI recently broke ground on a 504,000-square-foot expansion project in Florence Township. Subaru of America will occupy 189,000 square feet of the expansion, while the remaining 315,000 square feet is available for lease.
LITTLETON, MASS. — Rockland Trust has provided $27 million in financing to Boston-based Sam Park & Co. for the completion of the first phase of The Point, a 540,000-square-foot mixed-use project currently under construction in Littleton. Located at the intersection of Interstate 495 and Route 119, the project will feature 400,000 square feet of retail space, an entertainment complex, office space, a health club and a 115-room Courtyard by Marriott. Retail tenants will include Market Basket, Starbucks, AT&T, O’neil Cinemas, The Paper Source, Tavern in the Square and Pet Source, among others.
BEDFORD, N.H. — Encore Retail LLC, a subsidiary of Dallas-based Encore Enterprises Inc., has acquired land in Bedford to develop a high-density mixed-use development on more than 16 acres. At greater than 200,000 square feet, the Class A property will feature fashion, recreation, fitness, dining and office space on South River Road. A Whole Foods is currently under construction contiguous to this site and is scheduled to open in spring 2016. Construction on the mixed-use project is slated to begin in the fourth quarter of 2016. Prellwitz Chilinski Associates is providing architectural services for the project. Theodore Chryssicas of Newmark Grubb Knight Frank brokered the land transaction. Terms of the transaction were not released.
ARLINGTON, TEXAS — Trammell Crow Co. has been appointed by the city of Arlington to serve as the master developer of an 18-acre site located at I-30 and North Collins Street near the Dallas Cowboys’ AT&T Stadium. The site is known as Stadium View and has the ability to accommodate up to 1 million square feet of Class A office space. Trammell Crow has appointed CBRE to market the site.
PHILADELPHIA — Colliers International’s Philadelphia Capital Markets Group has secured a $10.8 million construction loan for Green Street Townhomes, a for-sale townhome development in Philadelphia. The loan features an 80 percent loan-to-cost ratio, a 4.5 percent floating rate, 24 months of interest-only payments and a 12-month extension option. Kris Wood, John Banas and Alex Hails of Colliers arranged the financing for the undisclosed borrower.
CHICAGO — U.S. Bank has provided a $73.5 million construction loan to the Onni Group, a Canadian-based firm that is developing The Hudson, a 25-story, 240-unit luxury apartment project located at 750 N. Hudson St. in downtown Chicago’s River North district. U.S. Bank served as lead left and administrative agent for the loan, with PNC Bank, N.A. as a participant. The Hudson will feature a mix of one-, two- and three-bedroom units, each of which will include a balcony or terrace, granite countertops, designer cabinets, a washer/dryer and more. Common amenities include a pool and hot tub, fitness business centers, resident lounges, an outdoor terrace and more. The Hudson will also include ground-floor retail space. Onni broke ground on the project this summer. The target date for completion is mid-2017.
SAN ANTONIO — American Freight Furniture and Mattress has opened its first location in Texas. The 45,000-square-foot store is located at 639 Lanark Drive in San Antonio, an industrial area commonly known as the Alamo Industrial Center. American Freight Furniture and Mattress is a discount furniture warehouse open to the public. Home furnishings and furniture are received from manufacturers due to factory closeouts, liquidations, dealer cancellations and retail chain buyouts. American Freight orders directly from the product manufacturer and utilizes warehouses rather than showrooms. Furniture brands sold at American Freight include Simmons, Serta and NordicRest.
SAN ANTONIO — Laurus Corp., a Los Angeles-based real estate investment and development firm, has completed a reposition project for the Hilton San Antonio Airport hotel. The full-service hotel, located two miles from the San Antonio International Airport, has undergone a $12 million update, including a new restaurant, the Asado Seafood & Grill, and lounge. The hotels 384 guest rooms were also remodeled. Laurus’ hospitality portfolio also includes The Hunt Valley Inn in Baltimore, The Hilton Garden Inn in Philadelphia, The Marriott San Antonio Hotel and the 16-story, 474-room Warner Center Marriott Hotel in Los Angeles.
CYPRESS, TEXAS — Three new tenants have signed leases at Caldwell Cos.’ Boardwalk at Towne Lake development, including Jaxton’s, Taisho and Copper Creek Orthodontics. The Boardwalk at Towne Lake is a 150,000-square-foot, waterfront development that is accessible by car and boat. The development will provide 40,000 square feet of waterfront office space and 60,000 square feet of retail space across four buildings. Jason Howard, the maître d’ at Tony’s Restaurant for the last eight years, is founding Jaxton’s, a new restaurant concept that will combine French and Italian cuisine. The team that has opened 11 Shogun Grill restaurants around Texas will open Taisho, a Japanese establishment that specializes in the hibachi and teppanykai style of cooking. Copper Creek Orthodontics will be relocating to a second-floor waterfront office in The Boardwalk at Towne Lake, set to open in spring 2015.
GRAND PRAIRIE, TEXAS — AutoWash Services has purchased a 29,480-square-foot office/warehouse space in Dallas’ Great Southwest Industrial District to relocate its headquarters and operations center from downtown Arlington. Casey Tounget and Theron Bryant of Coldwell Banker Commercial Alliance DFW represented the buyer, whose current location at 1305 E. Abrams Road is being impacted by a city project to widen the east-west thoroughfare. Upon completion of the transaction, AutoWash Services will immediately relocate to 2925 114th St. in Grand Prairie, ending nearly one year of searching for a new location in the greater Arlington area. AutoWash Services is a wholesale supplier of car wash equipment and supplies and provides construction/design services. Michael Stanzel of NAI Robert Lynn represented the seller, Ralph McMillan, who owns RAMCO Laundry Machinery Inc. Situated on 1.6 acres, the light-industrial structure features a 3,504-square-foot office space, 24-foot clear heights, four dock doors, one drive-up ramp, a staging bay, 120-foot truck court and 37 parking spaces. The infrastructure includes heavy power and a sprinkler system.