NEW YORK CITY — HKS Capital Partners has arranged a $19 million loan to refinance a three-building commercial portfolio in the Chinatown neighborhood of Manhattan. The loan included a seven-year term with a 4 percent fixed rate. The lender and borrower were not disclosed. The properties include an eight-story building with nine commercial condos; a three-story building with seven retail units and 14 office units and a four-story property with two retail units and five office units. The addresses of the properties were not disclosed. Refinancing proceeds will be used to replace the existing mortgage and term.
NEW YORK CITY — Fisher Brothers has signed the Turkish Consulate General in New York to a nearly 20,000-square-foot lease at 605 Third Ave., a 1.1 million square-foot office tower in Manhattan. The Turkish Consulate will occupy the entire 30th floor of the building. Louis D’Avanzo and Maria Travlos of Cushman & Wakefield represented the Turkish Consulate in the transaction. Since completing a $25 million capital improvement program at 605 Third Avenue, Fisher Brothers has executed 260,000 square feet of leases at the tower. Originally built by Fisher Brothers in 1963, the 44-story building is certified LEED Gold by the U.S. Green Building Council with a tenant roster that includes Univision, AECOM, David Hutcher & Citron LLP and the United Nations Population Fund.
DALLAS — CBRE has arranged the sale of Lakewood Towers, two office/medical buildings totaling 170,111 square feet in East Dallas. The property, which includes a five-level parking garage, was recently renovated and includes a tenant lounge and a conference center. John Alvarado, Gary Carr, Robert Hill, Eric Mackey, Evan Stone and Jared Chua of CBRE represented the seller, Highland Lakewood LLC, in the sale. An affiliate of Dallas-based Caddo Holdings acquired the property for an undisclosed price. Lakewood Towers was 99 percent leased at the time of sale to tenants such as Wells Fargo, Texas Neurology and Health Texas.
BETHLEHEM, PA. — SVN Imperial Realty has negotiated the sale of 95 Highland Ave., a three-story office building in Bethlehem. The 72,923-square-foot property was constructed in 1985 and is currently 75 percent occupied. Tom Skeans of SVN Imperial Realty represented the undisclosed seller, in the transaction. DLP Realty represented the undisclosed buyer. The property was sold through online CRE auction marketplace Ten-X.
TEMPE, ARIZ. — El Segundo, Calif.-based Dunbar Real Estate Investment Management purchased Mill Avenue Business Park, located at 40 E. Baseline Road, 5030 S. Mill Ave. and 5005-5025 S. Ash Ave. in Tempe. San Juan Capistrano, Calif.-based Birtcher Anderson Realty sold the property for $14.2 million. Bob Buckley, Steve Lindley and Tracy Cartledge of Cushman & Wakefield Phoenix negotiated the transaction on behalf of the seller. Built in 1983, Mill Avenue Business Park features 134,886 square feet of office, industrial and retail space. The property recently underwent a $1.3 million renovation. At the time of sale, the asset was 87.7 percent occupied.
SCHAUMBURG, ILL. — Core Acquisitions has unveiled plans to complete a $7 million renovation of Chatham Centre in Schaumburg. The 10-story, 205,000-square-foot office building is located at 1901 N. Roselle Road. Core plans to upgrade the lobby and outdoor terrace spaces, enhance the onsite food service operations and complete tenant build-outs. The lobby will feature a bleacher-style seating area where employees can work, eat or socialize. Construction of the new improvements is scheduled to begin immediately and be completed by year-end. Chatham Centre is currently 70 percent leased. Colliers International is the leasing agent and property manager. D+K Architects is the design and architecture firm. Core financed its acquisition of the property with New York-based Prime Finance.
CHICAGO — Strive Logistics has signed a 20,033-square-foot office lease for its headquarters at 1457 N. Halsted St. in Chicago. The third-party logistics provider will move into its space in the NEWCITY development in November. The company will relocate from 3008 N. Lincoln Ave. Kevin McLennan and David Saad of CBRE represented Strive in the lease transaction. Jake Ehrenberg and Scott Brandwein of CBRE represented the landlord, Bucksbaum Retail Management. NEWCITY is a mixed-use development located at the intersection of Halsted Street and Clybourn Avenue in the Lincoln Park neighborhood.
DES PLAINES, ILL. — Morgan/Harbour Construction has completed an office and lab space renovation for Riddell Sports in Des Plaines, a suburb of Chicago. Riddell is a manufacturer of football helmets, pads and other football-related equipment. The scope of the project included a 19,640-square-foot interior office build-out on the fifth floor, including 3,325 square feet of testing laboratory space. New partitions, doors and ceilings as well as upgraded finishes and new furnishings were part of the renovation. Partners by Design provided architectural services. CBRE is the property manager. Riddell moved its corporate headquarters from Rosemont to 1700 Higgins Centre in Des Plaines.
FRANKFORT, KY. — Rainier Realty Investments has acquired two office buildings totaling 178,300 square feet in Frankfort, roughly 25 miles northwest of Lexington. The adjacent buildings are located at 1024 and 1025 Capital Center Drive, five miles from the Kentucky State Capitol. The buildings are fully leased to agencies of the State of Kentucky. The seller and sales price were not disclosed.
GREENVILLE, S.C. — Dominion Realty Partners (DRP), a full-service real estate firm, has acquired The Ogletree Building, a 61,047-square-foot office property located at 300 N. Main St. in downtown Greenville. The seller and sales price were not disclosed. The property underwent renovations and updates in 2016, and was fully leased at the time of sale to financial services and law firms. The Ogletree Building features a dedicated, adjacent parking garage and is located near various hotels, restaurants, retailers, entertainment venues and public parks.