VERNON, CONN. — Chozick Realty Inc. has negotiated the $5 million sale of a portfolio of commercial properties in Vernon, a northeastern suburb of Hartford. The portfolio included the 65-unit Westar Apartments, an 8,600-square-foot warehouse, a 2,400-square-foot office building, a 1,700-square-foot retail property and an eight-unit apartment building. Tom Boyle of Chozick Realty represented the undisclosed seller in the transaction. Boyle also procured the buyer, a regional multifamily investor.
HOUSTON — JLL has arranged a loan for the refinancing of Two CityWestPlace, a 443,549-square-foot office tower located in Houston’s Westchase neighborhood. The building is situated within the 29-acre CityWestPlace complex, which offers amenities such as conference space, a dry cleaner, salon, dentist, car detailing and auto service, multiple food and beverage options, two fitness centers, jogging track, soccer field, basketball court, sand volleyball and bocce ball courts. Susan Hill, Jett Lucia and Sherri Rollins of JLL arranged the five-year, floating-rate loan through Regions Bank and Citizens Bank on behalf of the borrower, Parkway.
PLANO, TEXAS — NRG Energy, a nuclear electric power generation firm based in Houston and Princeton, New Jersey, has signed a 24,555-square-foot office lease renewal at Parkway Center III in the northern Dallas suburb of Plano. The 153,314-square-foot, Class A building offers a deli, conference centers and two structured garages. Kim Lyon and Scott Hobbs of Cushman & Wakefield represented NRG Energy in the lease negotiations. Matt Weiser of Stream Realty Partners represented the landlord.
NEW YORK CITY — Paramount Group Inc. (NYSE: PGRE) has agreed to sell a 10 percent interest in 1633 Broadway, a 2.5 million-square-foot office tower located on Broadway between 50th and 51st streets in Manhattan. While the price and buyer were not disclosed, the seller says the transaction values the property at $2.4 billion and netted a profit of $114 million for the company. The transaction is scheduled to close in the second quarter. Floor plates at the 48-story building range from 37,000 to 54,000 square feet. The property features a newly renovated lobby, 40 elevators, direct access to the New York City subway system and a 250-space parking garage. The property is located in the heart of Manhattan’s Theater District, with both Gershwin Theater and Circle In The Square Theater located in the building. The location is two blocks from Radio City Music Hall and Rockefeller Center, four blocks from Times Square and seven blocks from Central Park. “With this pending sale of a joint venture interest in 1633 Broadway, we have successfully proven the value of this enormous trophy asset at levels well above what is implied by our stock price,” says Albert Behler, chairman, CEO and president …
CONROE, TEXAS — Houston-based developer Gordon Partners is nearing completion of its expansion of Waterpoint Center, a lifestyle center that fronts Lake Conroe, about 40 miles north of Houston. The project will add roughly 40,000 square feet of retail, restaurant and office space, as well as 60 new boat slips. Restaurants that have signed new leases at the property include Akashi Asian Bistro and Kenz Mediterranean. Several office users, Gary Greene Realtors and Optimus Med Spa have also signed leases. Construction is scheduled to be complete in August.
HUNTINGTON BEACH, CALIF. — Manhattan Real Estate Holdings has acquired Bella Terra Medical Plaza, a medical office building located at 7677 Center Ave. in Huntington Beach. Vibe Boutique Office Properties sold the asset for $20 million. Situated on 1.8 acres, the four-story property features 59,354 square feet of recently renovated, Class A medical office space. At the time of sale, the building was 90 percent leased to a variety of medical facilities and providers. Derek Landry, Bob Prendergast, Sach Kirpalani and Lynn LaChapelle of JLL Capital Markets, along with Kellie Hill, Chris Isola and Bryan Lewitt of JLL Healthcare, represented the seller and procured the buyer in the deal.
LOWELL, MASS. — Legacy Real Estate Ventures has acquired 55 Technology Drive, an 84,000-square-foot office and healthcare building in Lowell, located approximately 30 miles north of Boston. At the time of sale, the property was 100 percent leased to Lowell General Hospital, Borrego Solar, the Commonwealth of Massachusetts, software developer Contract Logix and tech company Diagnosys. Anthony Biette of Peak Real Estate Partners represented the seller, a joint venture between Novaya Real Estate Ventures LLC and Hawk Properties. Biette also procured Legacy as the buyer. The sales price was undisclosed.
WORCESTER, MASS. — Kelleher & Sadowsky Associates Inc. has negotiated the $13 million sale of an 85,000-square-foot office building in Worcester, located approximately 45 miles west of Boston. Located at 324 Clark St., the building was 100 percent leased at the time of sale. Tenants include the Department of Developmental Services, Department of Early Education and Care, South Bay Community Services and Nouria Energy Corp. Donald Mancini and James P. Cozza of Kelleher & Sadowsky represented the seller, Worcester Investment Group, in the deal. The team also procured the buyer, Lowfield Realty Group. Cornerstone Bank provided acquisition financing for the buyer.
NEW YORK CITY — Avison Young has negotiated the $16.7 million sale of a seven-story office building in the Tribeca neighborhood of Manhattan. The 13,667-square-foot building is located at 177 Franklin St., between Greenwich and Hudson streets and was 80 percent leased at the time of sale. The flagship store of watch retailer Shinola occupies the ground floor. James Nelson and Charles Kingsley led an Avison Young team that represented the seller, Bedrock Real Estate Partners. The buyer was undisclosed.
NEW YORK CITY — Apollo Electric has acquired a 5,650-square-foot office condo in the Chelsea neighborhood of Manhattan for $3.6 million. The suite includes the entire fifth floor of a seven-story building, which is located at 127 W. 24th St. The building was constructed in 1904. Brock Emmetsberger, Ryan Kossoy and Reed Waggoner of JLL represented the seller, a private owner. The team also procured Apollo as the buyer.