HOUSTON — Colliers has brokered the sale of Intercontinental Park III, an 89,820-square-foot office building in North Houston. The three-story building sits on 3.6 acres and was originally constructed in 1983, according to LoopNet Inc. David Carter of Colliers represented the seller, Greenspoint Property Management, in the transaction. Bill Ginder of Caldwell Cos. represented the buyer, an undisclosed private investor.
FORT WORTH, TEXAS — Marcus & Millichap has arranged the sale of a 5,912-square-foot medical and retail center in North Fort Worth. The building, which was constructed in 2022, is home to tenants such as Heyday Family Dental, Core Wellness Studio and Texas Family Vision Center. Gus Lagos and Alex Wolansky of Marcus & Millichap represented the seller in the transaction. Marty McAdams of McAdams & Associates represented the buyer.
PHILADELPHIA — Method Co., a development and management firm specializing in apartment hotels, has opened Roost Kelly Drive, a 33-room hotel in Philadelphia’s East Falls neighborhood. The complex is located within The Driftway, a 133-unit residential building. Rooms come in studio, one- and two-bedroom floor plans. Morris Adjmi Architects designed Roost Kelly Drive in conjunction with Method’s in-house team. The company developed the property in partnership with Mexican investment firm Cimbra Partners.
PHILADELPHIA — Greysteel has arranged the $8.3 million sale of Eastern Lofts, an apartment complex in Philadelphia’s Brewerytown neighborhood. According to Apartments.com, the property was built in 2016, totals 37 units in one-, two- and three-bedroom floor plans and houses an onsite daycare and pet play area. Greysteel represented the locally based seller, Mazzarini Real Estate, in the transaction. The locally based buyer requested anonymity.
LOWELL, MASS. — Marcus & Millichap has brokered the $3.1 million sale of a 17-unit apartment building located at 887 Varnum Ave. in the northwestern Boston suburb of Lowell. The property consists of five studios and 12 two-bedroom units as well as onsite parking and laundry facilities. Tony Pepdjonovic, Evan Griffith and Will Sanborn of Marcus & Millichap represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
NEW YORK CITY — Cushman & Wakefield has negotiated a 12,500-square-foot office lease at 277 Park Avenue in Midtown Manhattan. The tenant, ERM Engineering & Consulting Inc., will occupy part of the 20th floor of the 1.8 million-square-foot building. Mark Boisi, Bryan Boisi and Stephen Bellwood of Cushman & Wakefield represented the landlord, The Stahl Organization, in the lease negotiations. Kirill Azovtsev of Savills represented the tenant.
FORT LEE, N.J. — Regional provider Hackensack Meridian Health has opened a 5,550-square-foot primary care office practice in the Northern New Jersey community of Fort Lee. Five physicians who specialize in family medicine, internal medicine and cardiology will staff the facility, which is located at 301 Bridge Plaza North. An undisclosed physician and his family own the building.
FONTANA, CALIF. — A fund sponsored by CBRE Investment Management, in joint partnership with Hillwood Investment Properties, has received a $756 million financing package for the construction of Phase I of Speedway Commerce Center in the Inland Empire city of Fontana. Located at 9300 Cherry Ave., Speedway Commerce Center will be a multi-building logistics project with highly functional, larger scale buildings offering 40-foot clear heights, cross-docked loading, 185-foot concrete truck courts, employee parking, optimal circulation and more than 100 acres for excess trailer parking. Construction is underway at the site, which is entitled for up to 6.6 million square feet of logistics space. The first two buildings are slated for completion in early 2025. Eastdil Secured arranged the financing on behalf of CBRE Investment Management. Dan de la Paz, Eloy Covarrubias and Barbara Perrier of CBRE are handling leasing efforts for the development.
SOUTH GATE, CALIF. — CBRE has secured a $43 million refinancing for El Paseo Shopping Center in South Gate, a suburb of Los Angeles. Located at 8634 Garfield Ave., the property features 300,000 square feet of retail space. Current tenants include Regal Edwards Theatres, Curacao, Planet Fitness, Starbucks Coffee, Union Bank, GNC, Panda Express, T-Mobile and Hooters. Bob Ybarra, Shaun Moothart, Bruce Francis, Doug Birrell, Nick Santangelo and Jim Korinek of CBRE secured the five-year, full-term interest-only, nonrecourse loan for the undisclosed borrower.
COLORADO SPRINGS, COLO. — M&J Wilkow Ltd. and MetLife Investment Management, on behalf of its clients, have acquired Chapel Hills East, a core retail asset in Colorado Springs. Terms of the transaction were not released. Developed in 1995/1996, Chapel Hills East features 225,000 square feet of retail space. The property is currently 100 percent occupied by a variety of tenants, including Whole Foods Market, Nordstrom Rack, Best Buy, DSW, Old Navy, Barnes & Noble and Office Depot. Chapel Hills East is the fifth joint venture co-owned by M&J Wilkow and MetLife Investment Management.