Office

HFF Arranges $60.7M Acquisition Financing for Galleria Place in Houston

by Haisten Willis January 5, 2016

HOUSTON — HFF has arranged $60.7 million in post-closing acquisition financing for Galleria Place, two Class A office buildings totaling 401,000 square feet, plus a standalone retail site across from the Galleria Mall in Houston. HFF arranged the loan on behalf of the borrower, LPC Realty Advisors I, an affiliate of Lincoln Property Co. LPC Realty Advisors closed the loan on behalf of a pension fund client. HFF placed the three-year, floating-rate, interest-only loan with ACORE Capital. HFF also arranged the sale of the property earlier in 2015. Galleria Place consists of Galleria Place I, an 11-story, 217,006-square-foot office building; Galleria Place II, a 10-story, 178,468-square-foot office building; Sage Plaza, a 5,797-square-foot retail building fully leased to a local high-end salon and tailor; Regions Bank, a single-story bank branch and drive-thru connected to Galleria Place I and included in its square footage; and two parking garages totaling 1,361 spaces. Galleria Place is 53 percent leased to tenants including Just Energy and IHS. The properties occupy six acres bounded by Sage and Westheimer roads and West Alabama Street directly across from the Houston Galleria shopping and dining district. Susan Hill led HFF’s debt placement team representing the borrower.

January 5, 2016

Office Texas

CBRE Negotiates Office Expansion in Austin

by Haisten Willis January 5, 2016

AUSTIN, TEXAS — CBRE has negotiated a 10,534-square-foot lease expansion for GateHouse Media, one of the largest publishers of newspapers in the country. The company’s Center for News & Design will expand its existing 18,444-square-foot office at Northview Business Center, which is located at 9001 N. Interstate Highway 35 in Austin. Opened since May 2014, the center offers a range of content services to GateHouse Media newspapers and commercial clients, including centralized copy editing and page design, web development and training. Today, the print editions of more than 200 GateHouse Media newspapers are designed and edited at the center, alongside product development for their companion web and mobile sites. More than 225 people work at the center. W. Gaines Bagby with CBRE’s Austin office represented GateHouse Media in the lease transaction. Luke Wheeler with Transwestern represented the landlord.

January 5, 2016

Colorado Office Western

Pinnacle Real Estate Advisors Arranges $3M Sale of Woodlake Center

by Nellie Day January 5, 2016

LAKEWOOD, COLO. — Pinnacle Real Estate Advisors has arranged the $3 million sale of Woodlake Center, a 37,741-square-foot, five-building retail and office complex located in Lakewood. Justin Krieger of Pinnacle represented the undisclosed seller, and Josh Newell of Pinnacle represented the undisclosed buyer in the transaction.

January 5, 2016

Industrial New York Northeast Office

Heritage Equity Partners, Rubenstein Partners to Develop 480,000 SF Project in Brooklyn

by Amy Works January 5, 2016

NEW YORK CITY — Heritage Equity Partners and Rubenstein Partners are co-developing 25 Kent Avenue, a 480,000-square-foot project in Brooklyn. The ground-up property will be Brooklyn’s first speculative commercial building in 40 years. Designed by Gensler and HWKN, the building will feature office and light industrial space for creative arts, makers and technology firms. While site preparation is underway, the project has entered the official land use review process known as Uniform Land Use Review Procedure (ULURP) with construction slated to begin later this year.

January 5, 2016

Mixed-Use New York Northeast Office Retail

Joint Venture Buys 48,000 SF Loft Building in NYC’s Flatiron District

by Amy Works January 5, 2016

NEW YORK CITY — Manhattan-based George Comfort & Sons Inc. has partnered with ASB Capital Management to acquire a 48,000-square-foot mixed-use building at 7 W. 18th St. in Manhattan’s Flatiron District for an undisclosed price. The fully occupied nine-story building is tenanted by homenature, a home furnishing retailer, on the ground floor and a variety of office tenants on the upper floors. The name of the seller was not released.

January 5, 2016

174-Newbury-St-471-475-Commonwealth-Ave-Boston

Loans Massachusetts Mixed-Use Multifamily Northeast Office Retail

Fantini & Gorga Arranges Three Loans Totaling $12.3M for Three Properties in Boston

by Amy Works January 5, 2016

BOSTON — Fantini & Gorga has arranged three loans totaling $12.3 million in permanent financing for three properties in Boston. The properties include a mixed-use property at 174 Newbury St. and two multifamily assets located at 471 and 475 Commonwealth Ave. within Kenmore Square. The Newbury Street property features four stores with a lower level retail space occupied by Ben & Jerry’s and Vans, and five apartment units on the upper levels with direct access to the sidewalk. 471 Commonwealth is a four-story building with 10 apartment units and 475 Commonwealth is a seven-story property with 42 apartments and one office suite. Derek Coulombe, Tim O’Donnell and Chris Miller of Fantini & Gorga arranged the financing for the undisclosed borrower.

January 5, 2016

Industrial Multifamily Office Retail Texas

NAI Wheeler Becomes Wheeler Commercial

by Haisten Willis January 4, 2016

BEAUMONT, TEXAS — NAI Wheeler has changed its name to Wheeler Commercial. This change represents a DBA (Doing Business As) change only. KenWheel Inc. remains unchanged. The president of the company, Lee Wheeler, has been serving southeast Texas for more than 16 years and has been in the commercial real estate business for more than 18 years. The structure and personnel of the company has not changed. Wheeler Commercial specializes in commercial real estate and brokerage services including sales, leasing, consulting and property management.

January 4, 2016

Industrial Multifamily Office Retail Texas

Steve Jarvie Named President of E Smith Realty Partners

by Haisten Willis January 4, 2016

DALLAS — Steve Jarvie has joined E Smith Realty Partners as president. Jarvie will lead the growth initiative for Dallas tenant representation services and will serve on the company’s executive committee, assisting with strategic direction for the company. Prior to joining E Smith Realty, Jarvie served as executive vice president at Jones Lang LaSalle (JLL) and The Staubach Co., focusing on the development of new business and management of client transactions. Jarvie has accounted for more than 10 million square feet of leases during his career. Jarvie earned his Bachelor of Arts degree from Baylor University in Waco.

January 4, 2016

New Hampshire Northeast Office

Brady Sullivan Properties Signs Two New Office Tenants in New Hampshire

by Amy Works January 4, 2016

BEDFORD, N.H. — Brady Sullivan Properties has arranged the leases for two office tenants at 2 Commerce Drive in Bedford. PeopleNet Communications Group, a subsidiary of Trimble, leased 5,253 square feet of office space, and SnapDragon Associates has leased 2,300 square feet of office in early 2016. Charles Panasis and Benjamin Kelley of Brady Sullivan arranged the transactions. Terms of the leases were not disclosed.

January 4, 2016

California Office Western

Powder Days Buys Encinitas Medical Office Building for $3.8M

by Nellie Day January 4, 2016

ENCINITAS, CALIF. — Powder Days LLC has acquired a 10,040-square-foot medical building in the San Diego submarket of Encinitas for $3.8 million. The two-story building is located at 135 Saxony Road. The buyer plans to occupy the second floor of the building, while the ground-floor tenant, California Bank & Trust, will remain in place. Michael Mahoney and Peter Curry of Cushman and Wakefield represented the undisclosed seller.

January 4, 2016

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