KANSAS CITY, MO. — JDA Software Group has opened a new data center in Kansas City. The software company has signed a lease for 15,000 square feet in a data center center owned and operated by Layered Technologies Inc. The center will serve the company's online services and allow JDA to expand its cloud business. The facility will be the company's second data center in the U.S.
NEW YORK CITY — Cushman & Wakefield's Equity, Debt & Structure Finance team has arranged a $100 million for the financing of 590 Fifth Ave. in Manhattan. The loan features a floating interest rate and includes both senior and mezzanine components. The property is a 100,000-square-foot retail and office building, located just one block from the Rockefeller Center. The NBA store and AT&T occupy the retail portion of the building. Dave Karson, Steve Kohn, Alex Hernandez, Kate Pelet and John Spreitzer of Cushman & Wakefield negotiated the transaction for the borrower, an affiliate of Thor Equities.
NEW YORK CITY — Marcus & Millichap has arranged the $2.9 million sale of 1023 Lafayette Ave, a 22,500-square-foot mixed-use property in Brooklyn. Naomi Shu of Marcus & Millichap represented the buyer, a private investor. Terra Firma International represented the seller, a developer.
GAITHERSBURG, MD. — JBG Rosenfeld Retail and The Bozzuto Group have closed on the $28 million acquisition of 20 acres of land within the 182-acre Crown mixed-use development, located in Gaithersburg, to build the retail and multifamily project Downtown Crown. The property will include 260,000 square feet of retail space with 538 apartments. Harris Teeter has pre-leased 53,000 square feet of retail space and LA Fitness signed a 40,000-square-foot lease. The apartment units will be known as The Cadence at Crown, and amenities will include five courtyards, three outdoor kitchens, a pool, fitness center, yoga studio, business center, conference room and media theater. The first units are slated to open summer 2014. Northwestern Mutual is providing both an equity and a construction and permanent loan for the development of the apartment units. The companies plan to break ground later this summer.
TAMPA, FLA. — Canyon Capital Realty Advisors has provided a $27.4 million senior loan to refinance GCAK Tampa’s assets in Grand Central at Kennedy, a mixed-use property located in Tampa. The property includes 392 residential condominium units, 110,000 square feet of ground-floor retail space and 70,000 square feet of office space. Robert Hernandez and Alison Williams of NorthMarq Capital arranged the loan, which will enable GCAK to complete the sales and marketing of the remaining condominium units and continue to lease up and build-out the remaining first-generation office and retail space.
NEW YORK CITY — TreeTop Development has purchased a 52-unit apartment building with 12,000 square feet of retail and commercial space in Manhattan for $8.8 million. TreeTop plans to invest $2.5 million in upgrades to the property, which is located at 165 West 127th St. Apartment rents at the property will start at $1,600 for one-bedroom units and $1,800 for two-bedroom units. Three-bedroom units will be priced at $2,200.
THE WOODLANDS — The Woodlands Development Company, a subsidiary of The Howard Hughes Corporation, has plans to break ground on a 66-acre mixed-use property called Hughes Landing at Lake Woodlands, located in The Woodlands. The mixed-use property is slated to have eight office buildings, a boutique hotel, retail and entertainment venues and multifamily housing. Construction of the first office building, the 195,227-square-foot One Hughes Landing, is expected to begin this fall and finish in the fourth quarter of 2013. Houston-based Gensler designed the facility to achieve LEED Silver certification.
KANSAS CITY, KAN. — Two major healthcare tenants have signed lease agreements to anchor the second phase of the $59 million 39Rainbow, a mixed-use development in Kansas City. The development is located near The University of Kansas Hospital and the University Kansas Medical Center at the southwest corner of 39th Street and Rainbow Boulevard. The first phase of the project is slated to open later this month and will include an 83-room Holiday Inn Express and Suites, Five Guys Burgers & Fries and additional retail shops. For the second phase, The University of Kansas Hospital will operate an inpatient acute rehabilitation center in 27,800 square feet on the second floor. Kansas City Transitional Care Center, a subsidiary of Skilled Healthcare Group, has signed a lease for 55,600 square feet on the third and fourth floors. The company plans to operate a post-acute skilled nursing rehabilitation facility. Site demolition has already begun on the 100,000-square-foot second phase and the building is scheduled to open in the fall of 2013. LANE4 Property Group is the project developer.
NEW YORK CITY — HH Realty Equities has purchased a 30,000-square-foot office and retail property at 1308 East 13th St. in Brooklyn for $6.5 million. The building is fully occupied, with Valley National Bank as the main retail tenant. Additional tenants include medical billing and insurance companies. Robert Klein of Kalmon Dolgin Affiliates represented the buyer in the transaction. He also represented the seller, Avenue M Associates.
NEW YORK CITY — Hudson Realty Capital has funded a $5.9 million first-mortgage loan for a 50,400-square-foot apartment and retail property on Woodhaven Boulevard in Queens. The borrower, a real estate owner and investor, plans to use the proceeds for a discounted first-mortgage payoff and to establish reserves to stabilize the property. The six-building property includes 42 apartment units and 11,250 square feet of retail space. Occupancies are 83 percent and 20 percent for the residential and commercial units, respectively.