NEW YORK CITY — Eastern Consolidated has arranged the sale of a block-front development site at 286-298 and 300-306 Wythe Ave. in the Williamsburg section of Brooklyn. Tri-Boro Shelving & Partition Corp. sold the site to Brooklyn-based North Development Group for $27 million. The site consists of two contiguous lots that together can support construction of up to approximately 51,200 buildable square feet of residential or commercial space with a community facility. Current zoning for the properties allows for residential and commercial development. Nicole Rabinowitsch and Gabriel Saffioti of Eastern Consolidated represented the seller and buyer in the transaction.
RALEIGH, N.C. — Lincoln Harris has brokered the $7.5 million sale of Cypress and Cedar East, two office buildings in Raleigh totaling 79,186 square feet. The properties are located at 3117 and 3101 Poplarwood Court and were 73 percent leased at the time of sale. Kaler Walker of Lincoln Harris represented the seller, Cedar East & Cypress LLC, in the transaction. Carter Worthy of Worthy Commercial represented the buyer, Debnam Properties, which owns two other buildings in the neighborhood. The buyer plans to occupy a portion of the buildings and continue leasing the rest.
CHARLOTTE, N.C. — HFF has closed the $6.7 million sale of and arranged acquisition financing for One University Place in Charlotte’s University Place mixed-use development. The four-story, 80,891-square-foot office building is located at 8801 JM Keynes Drive within 1.5 miles of I-85. Originally built in 1986, One University Place is 66 percent leased to a mix of healthcare, technology, consulting and business services tenants. The largest tenants at the property are Bayada Home Health Care and University Radio. Origin Capital Partners purchased the asset free and clear of debt. Ryan Clutter led the HFF investment sales team in representing the seller, Financial Enterprises III, in the transaction. Travis Anderson and Cory Fowler led HFF’s debt placement team in placing acquisition financing through First Tennessee Bank on behalf of Origin Capital Partners.
PHOENIX — The U.S. Department of Veterans Affairs has leased 20,000 square feet of space at Estrella Health Center in Phoenix. The center is located at 9250 W. Thomas Road. The VA will occupy the 4th floor of the building. It plans to utilize this space as an outpatient clinic for the Southwest community. Matt Fitzgerald of Colliers and Elena K. Safaei of Legend Real Estate Management served as consultants for the landlord, Legend Real Estate Management.
NEW YORK CITY — Construction manager Ensign Engineering and architect John Ciardullo Associates have completed the Aeronautical and Academic Library and Teaching and Learning Center at Vaughn College of Aeronautics and Technology, located at 86-01 23rd Ave. in Flushing. The $2.6 million library and learning center was the final phase of the $40 million expansion, renovation and sound mitigation construction program at the college’s main campus. The 11,000-square-foot library is designed to hold a collection of 26,300 items and features four enclosed classrooms with 70 computer stations, reading and studying rooms, and a flexible seating area with seven large tables that seat up to 42 patrons. The renovations were financed through grants, totaling $32 million, from the Federal Aviation Administration and The Port Authority of New York and New Jersey. Additionally, Vaughn invested $7 million from its own funds. The design and construction team included Ensign Engineering, John Ciardullo Associates, Library Interiors Inc., Langan Engineering and Environmental Services, DVL Consulting Engineers and Peter George Associates.
DORAL, FLA. — Marcus & Millichap has arranged the $13 million sale of Doral Commons, a four-story, 59,727-square-foot office building located at 8550 N.W. 33rd St. in Doral, a suburb of Miami. Built in 1999, the office building was 98 percent leased at the time of sale. Douglas Mandel and Benjamin Silver of Marcus & Millichap’s Fort Lauderdale office represented the seller, a private investor from Boston, and the buyer, a limited liability company from Aventura, Fla., in the transaction.
DEERFIELD BEACH, FLA. — Fairlead Capital Partners and equity partner Bridge Investment Group Partners have acquired a four-story, 172,357-square-foot office building located at 800 Fairway Drive in Deerfield Beach, a city in Broward County. Fairlead purchased the asset for an undisclosed price through its second investment fund, Mandalay-FCRE SV II. Built in 1987, the office building was 78 percent leased at the time of sale. The property features a fitness center, café, secured parking deck and walking paths. Fairlead plans to upgrade the property’s building systems, improve tenant amenities and renovate common areas and restrooms. In addition to the office building and parking deck, the acquisition includes a two-acre parcel of land adjacent to the building that Fairlead will use to expand parking for tenants. CBRE represented the seller, American General Life Insurance Co., in the transaction. The buyers have retained Stiles Realty for on-site property management and engineering services. Travis Herring, Deanna Lobinsky and Katherine Ridgeway of Cushman & Wakefield’s South Florida office will market 800 Fairway Drive to prospective tenants.
HOUSTON — CBRE and Unilev Management Corp. are now in the final phase of a multimillion-dollar renovation project at One Riverway in Houston. The 481,000-square-foot, 25-floor, Class A office building is located on the north side of the Galleria/Uptown area, directly adjacent to the Omni Hotel at Woodway Drive and South Post Oak Lane. Renovations include a new backup power generator, cooling towers, restaurant/deli, conferencing center, fitness facility, interior elevator cab upgrades and corridor upgrades. A lobby renovation will include a coffee/smoothie bar. Tenants at One Riverway include Northwestern Mutual, Texas Capital Bank, Regus Group, Thompson Coe Cousins, Wright & Close, EMC and PLS. Steve Rocher, Kristen Rabel and Parker Duffie with CBRE’s Houston office are the leasing representatives for One and Three Riverway. Unilev Management Corp. owns One and Three Riverway, provides on-site management and is also a tenant in the building.
PEARLAND, TEXAS — NAI Partners represented Tool-Flo Manufacturing in the acquisition of 15 acres to build an 80,000-square-foot metal machining facility and office located in the Spectrum Business Park in Pearland. Tool-Flo Manufacturing began operation in Houston in January 1978. The company serves the carbide threading and grooving market globally. Tool-Flo employs manufacturer’s representatives to cover the United States and to service the U.S. distributor network. The markets Tool-Flo serves include automotive, aerospace and medical and oil industry products and basic domestic manufacturers. Dan Boyles Jr. and Lane Morgan of NAI Partners represented the buyer, Tool-Flo Manufacturing, during the negations, while Justin Patchen of Urban Meridian Group represented the seller, Spectrum 86 Partners.
MOUNT PROSPECT, ILL. — Entre Commercial Realty LLC has arranged a 51,211-square-foot lease of flex space in Mount Prospect, approximately 25 miles northwest of Chicago. Novomatic Americas Sales, a manufacturer and distributer of casino gaming machines, is leasing the property located at 1050 E. Business Center Drive. The lease term is for three years. The building will be the site of Novomatic’s corporate headquarters and features 15,000 square feet of office space. Mike DeSerto, Dan Benassi and Dan Jones of Entre Commercial represented the tenant in the transaction. Kelly Joyce and Jonathan Kohn of Colliers represented the landlord, Colony Capital Inc.