PHOENIX METRO — Sunbelt Holdings has acquired from SunCor Development Co. more than 1,900 acres of commercial and industrial land, a 440,000-square-foot industrial building, a 2,500-space parking garage, an office/retail building and office condominiums, as well as two 18-hole golf courses, in Arizona’s Valley of the Sun. The independent purchases include commercial land at Hayden Ferry Lakeside in Tempe; commercial and industrial land at Palm Valley in Goodyear, Avondale and Litchfield Park; Sanctuary Golf Course in Scottsdale and SunRidge Canyon Golf Course in Fountain Hills. Scottsdale-based Sunbelt Holdings began managing the properties on July 15.
CHICAGO — Sue Blumberg of NorthMarq Capital’s Chicago Regional office has arranged $28.87 million in fixed-rate financing for Pensacola Place, which is located at 4334 N. Hazel in Chicago. The property consists of 79,000 square feet of commercial space and 264 renovated multifamily units. Commercial tenants include Jewel-Osco grocery store and World Gym. Financing was based on a 7-year term with a 30-year amortization schedule. The loan was arranged for the borrower, Pensacola Place, through NorthMarq’s seller-servicer relationship with Freddie Mac.
NORTHPORT, N.Y. — Construction is complete for Northport Commons, a 19,000-square-foot multi-use center located in Northport. Situated at the intersection of Fort Salonga and Rinaldo roads, the two-story project contains 9,000 square feet of retail space on the first floor. Tenants include Subway, La Casa Pizza, Happy Farms Fruit, a yoga center, a coffee shop and a convenience store. The 10,000-square-foot top level of the building is leased to chid care center The Learning Experience. The project architect for Northport Commons was Livingston, N.J.-based Jarmel Kizel Architects & Engineers.
NEW YORK CITY — The Moinian Group has received a temporary certificate of occupancy for the W New York – Downtown Hotel & Residences that will allow the hotel and restaurant portions of the mixed-use project to open later this month. Located at 123 Washington St. in Manhattan's Financial District, the 58-story tower contains a 217-room W Hotel, 223 residential condominiums, the BLT Bar & Grill and the Living Room Bar & Terrace lounge. Amenities of the project include a fitness center and a rooftop deck garden.
DALLAS — Parmenter Realty Partners has purchased the 326,000-square-foot VHA Place mixed-use property from a private buyer for less than $50 per square foot in a distressed transaction. The property, which is located in the Las Colinas submarket of Dallas, was purchased using the Parmenter Realty Fund III. VHA Place contains 256,000 square feet of office space, which is 82 percent leased. Parameter also owns the adjacent properties, Las Colinas Towers I & II, and plans to reposition VHA Place and synergize the three properties. Gary Dunkum and Suzanne Saunders of Grandbridge Real Estate Capital arranged the financing, which was provided by American National Insurance Co.
MIAMI — South Florida-based Link Construction Group has completed the 168,194-square-foot Causeway Square mixed-use building in Miami. The four-story structure, designed by Saltz-Michelson, has 29,374 square feet of restaurant and retail space on the ground floor. A 46,000-square-foot LA Fitness takes up the second floor, and 81,170 square feet of Class A office space span the third and fourth floors. TAUBCO designed the project.
WASHINGTON, D.C. — Skanska USA has broken ground on a mixed-use project located at 733 10th St. in Washington that will house eight floors of Class A office space, a worship space for First Congregational United Church of Christ and ground-level retail. The project, designed by Cunningham & Quill Architects and Tod Williams Billie Tsien Architects, will be built to LEED Gold standards. Delivery is expected during the latter half of 2011.
WASHINGTON, D.C. — Skanska USA Commercial Development has broken ground for the development of 733 10th & G, a mixed-use project located at 733 10th St. in Washington. The project will consist of eight stories of office space, 165,000 rentable square feet, ground-level retail space and worship space for First Congregational United Church of Christ. The project is seeking at minimum LEED Gold certification and will feature green elements, including a green roof, energy-efficient floor-to-ceiling windows, green housekeeping and improved indoor air quality. Cunningham & Quill Architects and Tod Williams Billie Tsien Architects are providing architectural services for the project, which is scheduled for completion in late 2011. Last year, Skanska acquired the development rights for project, which was originally being developed by PN Hoffman.
DALLAS — USAA Real Estate Co. has purchased The Mondrian at CityPlace, a mixed-use property in Dallas, from ZOM Cityplace for an undisclosed amount. The 5-year-old, transit-oriented development, which is located at 3000 Blackburn St., contains 218 apartment units and 19,497 square feet of retail space. The street-level retail space is populated by Med-Health, Toscana Pizza, The Cupcake Factory and others. Apartment amenities include a wireless cyber café and a resort-style pool.
PASCO COUNTY, FLA. — Dallas-based CoastOak Group has acquired Connerton from Terrabrook, the previous developer, for an undisclosed price. Located in central Pasco County, the 4,800-acre, mixed-use master planned community is the only “New Town” currently under construction in the greater Tampa Bay area. As planned the community will feature approximately 8,500 residential units and more than 3 million square feet of commercial space for office, industrial and retail uses. The community currently features onsite shopping, a long-term acute care facility, a soon-to-open elementary school, Club Connerton, neighborhood parks and conservation areas.