NEW YORK CITY — NorthStar Real Estate Income II Inc. has originated a $45.75 million senior loan, which is secured by a portfolio of three full-service hotels in Pennsylvania and Florida. The loan includes a 36-month term and two one-year extension options. The hotel portfolio features a total of 680 rooms and more than 26,000 square feet of total meeting space. Additionally, more than $17 million has been invested in the properties over the past 18 months. Proceeds from the senior loan will be used for additional planned improvements. NorthStar Income II’s portfolio consists of six loans with an aggregate principal amount of $227.8 million as of August 28, 2014. NorthStar Income II is a public, non-traded real estate investment trust sponsored by NorthStar Asset Management Group Inc.
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MILFORD AND STRATFORD, CONN. — Fairfield County, Conn.-based Angel Commercial LLC has brokered two leases totaling 14,000 square feet in Milford and Stratford. In Milford, The Nutty Company Inc. has leased a 5,000-square-foot freestanding building at 19 Seemans Lane. The company is relocating from Derby, Conn. Angel Commercial represented both parties in the transaction. In Stratford, Eastern Connection Inc., a multi-state courier business, has subleased 9,000 square feet of warehouse space at 350 Long Beach Blvd. Jon Angel of Angel Commercial represented the landlord, while Vidal/Wettenstein LLC represented the tenant in the transaction.
BORDENTOWN, N.J. — CBRE Inc. has brokered a 7,861-square-foot lease at 243 Route 30 in Bordentown. New Jersey-based Reconstructive Orthopedics plans to open its 10th location at the space this September. Dan McGovern of CBRE represented the property owner, Apco Petroleum, while Danny Wolf of Rose Commercial represented the tenant.
NEW YORK CITY — Boddewyn Gaynor Architects has designed the major improvements that are now underway at a 400,000-square-foot former industrial building on the waterfront in Brooklyn’s Sunset Park. Located at 14 53rd St. and known as the Brooklyn Whale Building, the seven-floor property is owned and managed by SL Whale Realty LLC, which acquired the building in 2011. The upgrades include canopies to highlight the main entrance and two secondary entrances along the building’s 600-foot façade; a new lobby with concierge desk, newsstand and sweet shop, and restroom facilities for visitors; energy-efficient replacement windows; and infrastructure improvements to support the improved office space.
WEST HOLLYWOOD, CALIF. – Celebrity chef and restaurateur Wolfgang Puck is relocating his corporate headquarters to the Pacific Design Center (PDC) in West Hollywood. The headquarters will be located in the center’s Blue Buildingat 8687 Melrose Ave. Once the move is complete, Puck’s entire operations at PDC will include the corporate offices of Wolfgang Puck Worldwide, a test kitchen, and a filming kitchen and studio. This is in addition to Puck’s already existing catering operation and Red Seven Restaurant inside the Green Building. The corporate headquarters will be relocating from nearby Beverly Hills. The Blue Building was originally built in 1975. It was the first of the three buildings to be constructed at the 1.2-million-square-foot PDC, which is owned by Charles S. Cohen.
HOUSTON — D’Agostino Cos. has broken ground on The Offices at Sam Houston, a four-story office building in Houston. The offices will be located at 10203 Sam Houston Park Drive inside the Sam Houston Crossing Business Park. The project is schedule to be completed in June 2015 and is 60 percent pre-leased to Caterpillar Inc. and Solar Turbines Inc. The remaining 46,000 square feet is available for lease. The Class A, 113,363-square-foot office building will feature tilt-wall construction and a single-level parking structure with covered access to the building. D’Agostino will seek LEED Silver certification for the building. Steve Rocher, Kristen Rabel and Parker Duffie with CBRE’s Houston office are marketing the property on behalf of the landlord. Metzger Construction Co. is the general contractor and Browne McGregor Architects is the architect.
RALEIGH, N.C. — The Dilweg Cos. has acquired a 12-building, 773,000-square-foot portfolio of office and flex properties in Raleigh for $89.5 million. The properties include Park Forty Plaza, RDU Center II and III, NorthPark I and II, five north Raleigh flex properties known as One North Commerce Center and two flex properties in Cary known as MacGregor Place. The acquisition brings Dilweg’s Southeast portfolio to 4.7 million square feet. Ryan Clutter, formerly of CBRE, led the transaction on behalf of the seller along with Ben Kilgore and Patrick Gildea of CBRE.
RICHMOND, VA. — Cushman & Wakefield | Thalhimer has brokered the $40.7 million sale of 11 office buildings in Richmond’s Innsbrook submarket. The 359,000-square-foot portfolio was sold in two separate transactions to two buyers. Westdale Real Estate Investment and Management purchased West Shore I, II and III, as well as Grove Park I in the Concourse at Wyndham development located off of Nuckols Road. Lingerfelt Cos. purchased the remaining assets in Innsbrook Corporate Center, including Vantage Pointe, Vantage Place A-D and Technology Park I and II. Eric Robinson of Cushman & Wakefield | Thalhimer’s Richmond office represented the unnamed seller in both transactions.
PLYMOUTH, MASS. — Burlington, Mass.-based KeyPoint Partners has opened a satellite office at Colony Place in Plymouth. The commercial real estate service firm, which manages Colony Place, has moved its staff and services to the existing management office at the center from its former Middleboro, Mass., office. Located off Route 44 near Route 3, the largest open-air shopping center southeastern Massachusetts offers more than 850,000 square feet of retail space. The tenant roster includes Walmart, Dick’s Sporting Goods, DSW, Best Buy, Bed Bath & Beyond, ULTA, Talbots and LOFT, among others.
NEWARK, N.J. — Newark Regional Business Partnership (NRBP) has relocated its headquarters to The Berger Organization’s Military Park Building in Newark. NRBP has signed a long-term lease to occupy 10,000 square feet at the 21-story, 250,000-square-foot office building. The non-profit organizations sharing NRBP’s space include: Greater Newark Enterprises Corp., The Nicholson Foundation, Newark Alliance and ReServe. Jones Lang LaSalle represented NRBP in the lease negotiations.