SHELTON, CONN. — Gexpro, an electrical product distributor, has signed a lease for 30,132 square feet at 1000 Bridgeport Ave. in Shelton. Kevin Foley and Torey Walsh of Cushman & Wakefield represented the building owner, 1000 Bridgeport Associates LLC, a joint venture of Abbey Road Advisors, Westport and The Praedium Group, in the transaction. Peter Buckey and Andy Arrick of Cassidy Turley represented the tenant.
FORT MILLS, S.C. — Marcus & Millichap has arranged the sale of a 74,844-square-foot office building, located at 1830 MacMillian Park Dr. in Fort Mill. The property is fully leased to corporate headquarters of Continental Tire the Americas. David “Britton” Burdette of Marcus & Millichap's Atlanta office represented the seller, Charlotte, N.C.-based Forsite Development, in the transaction. Jamie Medress and Mark Ruble of Marcus & Millichap's Phoenix office represented the buyer, Milwaukee-based Investor Associated, which acquired the property as part of a 1031 exchange. Hendrick Construction will complete a $3 million, 90,994-square-foot expansion on behalf of the buyer.
MINNEAPOLIS, MINN. — NorthMarq Capital's Minneapolis regional office arranged first mortgage refinancing of $7.1 million for the Stadium Village Apartments, a 121-unit multifamily property located in Minneapolis. Daniel Trebil of NorthMarq arranged the financing for the borrower through NorthMarq's correspondent relationship with a bank. The 5-year loan has a 30-year amortization schedule.
FLORHAM PARK, N.J. —Bergman Real Estate Group has arranged two lease expansion deals at Florham Park Corporate Center in Florham Park, N.J. Managed Health Care Associates Inc. signed a lease for 39,060 square feet, which includes an additional 17,550 square feet of space. Eric Ladden of Cornerstone Real Estate Group represented Managed Health Care in the transaction. Veritext Corp. signed a 33,000 square foot lease, expanding by 16,560 square feet. Greg Barkan and Remy deVarenne, Jr. of CB Richard Ellis represented Veritext in the transaction.
HOUSTON — MetLife has completed the sale of a 50 percent interest in the 1.7 million-square-foot Wells Fargo Plaza, a 71-story office building located at 1000 Louisiana St. in Houston's CBD, to New York State Common Retirement Fund. MetLife will retain asset management responsibilities and the remaining 50 percent interest. The property is 96 percent leased to 37 tenants. Robert Williamson and Scott Galloway HFF's Houston office and Mark Gibson of the firm's Dallas office represented MetLife in the transaction, and Clarion Partners represented New York State Common Retirement Fund.
EAST HARTFORD, CONN. — H&H Linens Services Inc. has signed a 23,000-square-foot lease at 45 Belden St. in East Hartford, Conn. from 45 Belden Street Co. LLP. Carl Zoephel and Nicholas Morizio of Colliers International's New Haven, Conn. office represented the landlord in the transaction. Delia Realtors represented the tenant.
ESCONDIDO, CALIF. — Cypress Office Properties, LLC has purchased a 78,367-square-foot, Class A office building in Escondido for an undisclosed sum. The three-story property was built in 2008 and is 38 percent leased. This is the third office building that Cypress has purchased in the past 12 months. The transaction is part of the company’s overall investment strategy, which is to acquire quality, value-add assets in San Diego, Orange County, Calif., and Phoenix. CBRE’s Gary Stache, Louay Alsadek, Pat Scruggs, Evan August and Anthony Delorenzo represented both the buyer and the seller in this transaction. Cypress also retained Larry Cambra and Dan Yielding from CBRE to handle the property’s leasing. CBRE’s Property Management group will manage the property.
LONG ISLAND CITY, N.Y. —H&R REIT has acquired the 670,000-square-foot Two Gotham Center in Long Island City, closing the deal with a $250 million loan from two life companies. Michael Strober of CB Richard Ellis' Tampa office arranged the financing in a 10-year note at a 4.25 percent interest rate. Darcy Stacom and William Shanahan, with CBRE's investment properties institutional group in New York represented the seller in the transaction.
NEW YORK — Law firm Baker & McKenzie has signed a 15-year lease for 105,803 square feet on seven floors of the trophy tower, owned by IDB Group. Mitchell Steir, John Mambrino, David Goldstein and Matthew Barlow of Studley represented Baker & McKenzie in the transaction. Craig Reicher, Howard Fiddle, James Ackerson, Zachary Freeman, Sinclair Li and Greg Maurer-Hollaender of CB Richard Ellis represented the building owner.
SAN DIEGO – DivcoWest and Stockbridge Capital Group have formed a joint venture to purchase the Genesee Executive Plaza, a 159,425-square-foot, Class A commercial and medical office complex in San Diego, for an undisclosed sum. Genesee Executive Plaza was built in 1984 and resides within San Diego’s University Town Center submarket. It recently received $1.2 million in capital improvements. The plaza is currently 69 percent leased, and has been approved for an additional 22,500 square feet of medical office space. The property was marketed by Fred B. Cordova, Mark A. McEwen, Tom Mercer, Paul Braun, Chris Ross and Ryan Eddy of Colliers International.