BOERNE, TEXAS — National Cooperative Bank (NCB) has provided a $4.8 million construction loan to the Congregation of Benedictine Sisters of Boerne, located 30 miles northwest of San Antonio. The financing will be used for the construction of a new monastery and administrative offices. In February 2012, the congregation informally subdivided its 42-acre property and listed 14 acres for sale. The new monastery facilities will be built closer to the existing Boerne ministries and will provide prayer, meeting and work spaces, as well as community and private living spaces. The Benedictine Sisters are monastic women committed to community and a life of work and prayer. The Congregation of Benedictine Sisters is a 501(c) (3) nonprofit corporation.
FREMONT, CALIF. – Rooflifters USA has just completed a 30,000-square-foot roof raising on a building near San Jose. The building, newly owned and occupied by ProExhibits, will be the location of its new main office and manufacturing operation. Originally constructed with a 16-square-foot clear height, the roof was raised fully intact to a 27-square-foot clear. The renovation process added more than 300,000 usable cubic feet to the structure. Toeniskoetter Construction served as the general contractor.
RALEIGH, N.C. — Dominion Realty Partners has opened Charter Square, a Class A, 242,969-square-foot office tower in downtown Raleigh. Situated on the south end of Fayetteville Street, the 11-story building is located in the city’s growing technology hub immediately adjacent to the Duke Energy Performing Arts Center, Raleigh Convention Center and Raleigh Marriott City Center. The property opened at 56 percent occupancy with tenants such as Womble Carlyle Sandridge & Rice LLP, HDR Engineers, Industrious, CBRE Raleigh, JDavis Architects, Intelligent Office, Dominion Realty Partners, Yadkin Bank and a restaurant by Eschelon Hospitality. When construction began in spring 2014, the property was 100 percent speculative. Charter Square features a blue glass exterior, outdoor plaza, card access control systems, direct underground parking and on-site security. Dominion Realty Partners teamed up with Prudential Real Estate Investors to develop the office building.
SWANSEA, ILL. — BARBERMurphy Group has arranged the sale of a retail and office property, located at 1704 N. Belt West in Swansea, located about 17 miles southeast of St. Louis, Mo. Welzbacher Land Trust sold the 6,012-square-foot property to JHK LLC for an undisclosed price. BARBERMurphy Group represented the seller in the transaction.
DALLAS — Frontier Equity has acquired The Addison, a recently renovated 206,000-square-foot office property located just south of Belt Line Road in Dallas. The building has been occupied by a few large users since its original construction, and now has roughly 60,000 square feet of space available for rent. It is located near the Addison Walk retail center, which includes a Starbucks Coffee, Kenny’s Wood Fired Grill, Jason’s Deli, Smoothie King and other retailers. In addition, the property has an on-site deli, 24-hour security, a full-service gym and a 536-room Marriott hotel next door. The Addison is privately owned and operated by a joint venture between Artemis Real Estate Partners and Frontier Equity. Holt Lunsford Commercial will handle leasing and management duties for the property on behalf of the ownership.
HOUSTON — Houston-based Mattress Firm Inc. plans to consolidate the company’s two Houston offices into one corporate campus with more than 350 employees. The company will move into a 130,000-square-foot property at 10201 S. Main St. in June 2016, providing more space and growth opportunities for the specialty bedding retailer. The new corporate campus will include an on-site cafeteria, meeting spaces and conference centers. The property is in close proximity to several of the area’s retail, dining and entertainment destinations. The campus will also provide access to Loop 610, US 59, SH 288 and US 90. Future plans for the campus may include an on-site gym, wellness center, walking trails and sleep centers. The new Mattress Firm headquarters will occupy the entire building, currently leased by Stage Stores Corporate.
DALLAS — RAA Investments Inc. has sold a commercial property fronting West Lovers Lane to a local investor in an all-cash transaction. The existing business, Foster Cleaners, will close at the end of this month. The structure, totaling 5,100 square feet, sits on nearly 0.3 acres at 4931 W. Lovers Lane in Dallas. MSM Trust was the buyer. The property is located directly across the street from Providence Christian School of Texas and close to Love Field, Inwood Village and the Pavilion on Lovers Lane.
ONTARIO, CALIF. – Airport Wineville Business Park has sold to Wohl Investment Company for $4.5 million. The 53,937-square-foot park is located at 5140 Airport Dr. and 151-181-201 S. Wineville Ave. It was built between 1988 and 1990. The seller was McLellan Estate Company. It was represented by Patrick Barnes of Colliers and GM Properties’ Jason Jamison and Dustin Wheelan.
NASHVILLE, TENN. — Grandbridge Real Estate Capital has arranged an $18.5 million first mortgage loan on a five-story, 152,216-square-foot office building in Nashville. Chris Caison and C.J. Webb of Grandbridge’s Charlotte office arranged the fixed-rate loan through one of Grandbridge’s insurance correspondent lenders. The loan is a seven-month forward financing commitment, according to Grandbridge.
MORRISTOWN, N.J. — Atlantic Health System (AHS) has purchased a two-property, 128,000-square-foot medical office and office building portfolio in Morristown from Ivy Realty and CenterSquare Investment Management for $22.5 million. The acquisition includes properties at 55 Madison Avenue and 101 Madison Avenue, both of which are located directly across from the Morristown Medical Center, which AHS also owns. 55 Madison Avenue is an 89,000-square-foot office building; 101 Madison Avenue is a 39,000-square-foot medical office building, which was renovated in 2008. Major tenants include Regus, Keller Williams, Fresenius Medical Care and BioReference Laboratories. The Colliers International team of Jacklene Chesler, Bryn Cinque, and James Bailey represented AHS in the transaction. The HFF investment sales team representing the seller was led by Jose Cruz, Kevin O’Hearn and Robert Borny.