WALTHAM, MASS. — Transwestern has arranged the sale of a three-building portfolio totaling 65,200 square feet of office, laboratory and research and development space in Waltham. Taurus Investment Holdings sold the portfolio to a joint venture between Parsada Ventures and KHS Management for $14 million. The buildings are located at 150 and 335 Bear Hill Road and 300 Second Ave. within the Bear Hill Business Park. Chris Skeffington and Roy Sandeman of Transwestern represented the seller and sourced the buyer in the transaction.
NEW YORK CITY — TerraCRG has arranged the sale of a former daycare facility, located at 1057 Fulton St. in the Clinton Hill neighborhood of Brooklyn. An undisclosed buyer acquired the building for $5.1 million, or $493 per square foot. The buyer plans to convert the 10,337-square-foot property, which was vacant at the time of sale, into a mixed-use building. Ofer Cohen, Dan Marks and David Algarin of TerraCRG were the sole brokers in the transaction.
DALLAS — Balfour Beatty has been selected by Highland Park Independent School District (HPISD) to serve as the district’s construction partner for a $110 million elementary construction and renovation program. A result of HPISD’s 2015 bond election, the program includes the construction of four elementary schools and renovation of a fifth elementary school. The project’s first phase is underway as Balfour Beatty manages construction of a 100,000-square-foot campus, which is the district’s first new elementary school since 1948. Situated on 4.6 acres, the new elementary school will provide flexible learning spaces, outdoor classrooms and a one-story underground garage with 90 parking spaces. This facility will serve as the “swing” school to accommodate the faculty and students who are subsequently displaced while their new schools are constructed over the following three years. Upon completion of the first school in summer 2017, Balfour Beatty will commence with the demolition and construction of replacement campuses for the three remaining schools. As each new school is completed in 13-month windows, the project team will move to the next campus. Each of the 100,000-square-foot replacement campuses will also include underground parking garages. In addition to the four new elementary schools, the district’s fifth elementary school …
KATY, TEXAS — The first round of retailers will open Oct. 28 in the 89-acre Grand Morton Town Center, including a 125,531-square-foot Kroger Marketplace. The NewQuest Properties project, being developed in phases, ultimately will bring 600,459 square feet of retail, restaurants and medical offices to the neighborhood. Opening in tandem with Kroger Marketplace will be Ideal Dental, Supercuts, T-Mobile and Today’s Vision, totaling 7,700 square feet. Rebecca Le and Josh Friedlander of Houston-based NewQuest will handle leasing. Grand Morton Town Center includes more than three-quarters of a mile of frontage along Grand Parkway. About 60 percent of the project is pre-leased, leased or under negotiation for a lease. The project also includes 16 pad sites, four of which will be occupied by McDonald’s, Taco Bell, Chick-fil-A and Whataburger.
DALLAS — Invesco will rebrand the 1920 McKinney office tower in Dallas as Parkview at 1920 McKinney, emphasizing the property’s location overlooking Klyde Warren Park. The 12-story, Class A office and retail property is located in the Uptown submarket. The building spans more than 141,000 square feet of rentable office space, with balconies on every office level and views of both the downtown Dallas skyline and the park. Over 50 percent of the property has been leased with 66,000 square feet of contiguous office space available. JLL’s Daryl Mullin, James Esquivel and Ashley Curry are leading the leasing and marketing efforts. The location also offers on-site dining at Water Grill, which is scheduled to open in December, a full-service fitness center, access to the Katy Trail and Klyde Warren Park, 100 percent covered parking and on-site management.
GREENVILLE, S.C. — CBRE has brokered the sale of two multi-tenant office buildings located at 201 and 651 Brookfield Parkway in Greenville. Atlanta-based Fairlead Capital Partners purchased the two properties from Garrison Investment Group for a combined $25 million. Fairlead funded the purchase with its proprietary capital and equity from Bridge Investment Group Partners, manager of the ROC funds. Totaling 238,175 square feet, the assets are leased to tenants such as MetLife, GE Gas Turbines and Ahold USA. Patrick Gildea and Tripp Sellers of CBRE represented Garrison Investment Group in the transaction.
PORTLAND, MAINE — Montecito Medical Real Estate has acquired Maine Eye Center’s Lowell Street campus in Portland for an undisclosed price. The 34,000-square-foot Class A medical office building is minutes from downtown Portland, Portland Harbor and the region’s two major hospitals, including Maine Medical Center. The Maine Eye Center has a practice lineage of more than 100 years and offers comprehensive eye specialty services. Including this transaction, Montecito has acquired 20 medical office buildings during the past 12 months and expects to close on the acquisition of eight additional medical real estate assets before the end of this year.
CAMBRIDGE, MASS. — CBRE/New England has arranged the sale of an office and retail building located at 1050 Massachusetts Ave. in Cambridge. Putnam Circle Associates sold the 62,474-square-foot property to L&B Realty Advisors for an undisclosed sum. The property is currently leased to several long-term office tenants, including Cambridge 7 Associates, the National Bureau of Economic Research and Northstar Project & Real Estate Services. Pyara Spa & Salon is currently the sole retail occupier in the first-floor retail space. Dave Pergola, Brian Doherty and Chuck Kavoogian of CBRE/NE represented the seller and procured the buyer in the transaction.
CHERRY HILL, N.J. — Markeim Chalmers Inc. has arranged the sale of an office building located at 499 Cooper Landing Road in Cherry Hill. The Guidance Center of Camden County Inc. sold the property to 409 ROPA Realty LLC for $1.6 million. The buyer plans to convert the 12,000-square-foot property into a state-of-the-art medical office building. Kevin Burns of Markeim Chalmers represented the seller in the deal.
SANTA MONICA, CALIF. — Douglas Emmett has purchased a 128,935-square-foot office building in downtown Santa Monica. The sales price was $139.5 million according to the seller, Blackstone Group. The asset is located at 233 Wilshire Blvd. The building is 91 percent leased to tenants like Luther Burbank Savings, Tunnel, Hirschfeld Kraemer LLP, GoodRX and Enenstein & Ribakoff. It sits adjacent to the Third Street Promenade, which features retailers like Nike, Nordstrom, Bloomingdale’s, Apple, Tesla and Lululemon. HFF’s Ryan Gallagher, Michael Leggett, Andrew Harper, Tim Geiman and Michael Matchett represented both the buyer and seller in this transaction.