DALLAS — Lee & Associates has negotiated a 21,136-square-foot industrial lease in northwest Dallas. According to LoopNet Inc., the building at 2616 Willowbrook Road was built in 1994 and totals 49,636 square feet. Stephen Williamson of Lee & Associates represented the tenant, Greenpath Mail Operations, in the lease negotiations. Nathan Denton, also with Lee & Associates, along with Brett Owens and Jack Brewer of Transwestern, represented the landlord, an entity doing business as Warehouse Development Ltd.
COMMACK, N.Y. — Connecticut-based life insurance company Voya Investment Management has provided $37.5 million in bridge financing for Mayfair Shopping Center, a 221,000-square-foot retail property located in the Long Island community of Commack. The open-air center sits on a 15-acre site along the Jericho Turnpike and is home to tenants such as Lidl, Planet Fitness and the PGA Superstore. Andrew Stewart and Allison Villamagna of New Jersey-based financial intermediary Cronheim Mortgage arranged the three-year loan on behalf of the borrower, The Livingston Group. A portion of the proceeds will be used to fund capital improvements and additional leasing costs.
NEW HAVEN, CONN. — Locally based brokerage firm O,R&L Commercial has arranged the $7 million sale of York Square Broadway, a 30,262-square-foot mixed-use property in New Haven. The property consists of two buildings that were originally constructed in the early 1900s and house four one-bedroom apartments, 7,300 square feet of recently vacated office space and retail space. Tenants at the property include Campus Customs, which provides Yale-themed apparel and gifts, Mediterranean restaurant Broadway Kitchen, Blue Jay Cleaners and cosmetics chain Blue Mercury. Frank Hird of O,R,&L represented the seller and procured Yale University as the buyer.
NEW YORK CITY — The Hawthorne Country Day School Manhattan, which provides a range of educational and social services for individuals age 18 months to 21 years, will relocate its campus from 156 William Street to 233 Broadway. The new space spans 34,076 square feet within The Woolworth Building, a 28-story landmarked structure that was originally built in the 1920s. The space features classrooms, therapy rooms, a multipurpose room/gym and an expanded sensory gym. Howard Kesseler, Todd Hershman and Alex Kesseler of Newmark represented the tenant in the lease negotiations.
OCEAN TOWNSHIP, N.J. — New Jersey-based investment firm TFE Properties has acquired a 30,230-square-foot industrial building in Ocean Township, located along the Jersey Shore. The building at 42 Cindy Lane was constructed on five acres in 1989. According to LoopNet Inc., the property features a clear height of 18 feet and four drive-in doors. The property was fully leased at the time of sale to tenants such as Cooper Electric and KMSCO Inc. The seller and sales price were not disclosed.
FAIRFIELD, CONN. — Regional brokerage firm Northeast Private Client Group (NEPCG) has negotiated the $3.1 million sale of a five-unit multifamily property in Fairfield, located in southern coastal Connecticut. According to LoopNet Inc., the building at 1903 Post Road was originally constructed in 1924. Brad Balletto, Robert Paterno, Rich Edwards and Jeff Wright of NECPG represented the buyer and seller, both of which requested anonymity, in the transaction.
SANTA ANA, CALIF. — A private seller has completed the disposition of 3 Hutton Centre Drive, an office building in Santa Ana. A high-net-worth investor acquired the asset for an undisclosed price in an all-cash transaction. Situated on 2.47 acres within a 46-acre, master-planned, mixed-use community, 3 Hutton Centre features 200,443 square feet of office space. Built in 1985, the building underwent $3.5 million in capital and tenant improvements in 2018. Property amenities include a state-of-the-art fitness center on the penthouse level. At the time of acquisition, the property was 62.2 percent occupied by seven tenants. Anthony DeLorenzo, Sammy Cemo, Bryan Johnson, Matt Pourcho and Nick Williams of CBRE handled the transaction.
THOUSAND OAKS, CALIF. — NewMark Merrill Cos. has acquired a 172,008-square-foot retail center, which it has renamed the Collection at Janss Marketplace, in the Los Angeles suburb of Thousand Oaks. Seritage Retail Group sold the asset for an undisclosed price. With this purchase, NewMark Merrill is responsible for the oversight of new acquisition and the adjacent 458,000-square-foot Janss Marketplace for a combined 630,000-square-foot regional center. Originally built as a multi-story Sears department store, The Collection was over 60 percent leased to Dave & Buster’s, DSW and Nordstrom Rack at the time of sale. The property shares parking and access points with the adjoining center, including a newly remodeled Regal Cinemas and Gold’s Gym. Sandy Sigal, Jim Patton, Brad Pearl, Sandra Kist and Susan Rorison of Newmark Merrill oversaw the acquisition. Phil Voorhees and Jimmy Slusher of CBRE represented the seller in the deal. Bryna Gortikov with Gortikov Financial secured financing for the deal from Prime Finance.
TRUCKEE, CALIF. — JLL Capital Markets has arranged $22.5 million in acquisition financing for The Hampton Inn & Suites Tahoe-Truckee. The property is located in Truckee, just north of Lake Tahoe and west of the Nevada border. Jordan Angel, Mike Huth and Ethan Habecker of JLL Capital Markets secured the loan from MetLife Investment Management for the borrower, JMA Ventures LLC. The Hampton Inn & Suites Tahoe-Truckee features 109 guest rooms and suites spread across two buildings, a heated outdoor pool, hot tub, fitness center and more than 1,000 square feet of meeting space. The hotel offers access to major transportation routes, including Interstate 80, CA 267 and the Truckee Airport, as well as bike lanes.
FULLERTON, CALIF. — PSRS has arranged $11 million in refinancing for a Sunny Hills Business Park in the Orange County city of Fullerton. Built in 1981, Sunny Hills is a large industrial/flex and office building park comprising nine one- and two-story buildings, totaling 176,475 rentable square feet. Sixty-seven percent of the gross leaseable area is industrial/flex space and the remaining 33 percent is office space. Situated on 10.3 acres, the park offers signalized access to Imperial Highway. Kostas Kavayiotidis and Matthew Farzinpour PSRS arranged the nonrecourse, 10-year loan with a 30-year amortization schedule. One of PSRS’ correspondent life insurance companies provided the capital.