EL PASO, TEXAS — Newmark has arranged a 24,787-square-foot lease renewal at Vista Del Sol Industrial Park in El Paso. According to LoopNet Inc., the building at 12135 Esther Lama Drive was built in 1994 and totals 189,025 square feet. Reid Blynn, Blake Anderson, Nick Pickard, Thomas McDugall, Jim Belcher, Stephen Cook and Mike Spaeder of Newmark represented the tenant, packaging company SupplyOne Tucson, in the lease negotiations. PIRES International represented the undisclosed landlord.
SUGAR LAND, TEXAS — Partners Real Estate has brokered the sale of a 14,000-square-foot ambulatory surgery center in the southwestern Houston suburb of Sugar Land. According to LoopNet Inc., the building 2121 Williams Trace Blvd was constructed on roughly two acres in 1995 and was renovated in 2007. Ryan McCullough and Davis Amanyisye of Partners represented the seller, an entity doing business as SNA Medical Center LLC, in the transaction. The buyer and sales price were not disclosed.
NEW YORK CITY — Locally based investment firm Williams Equities has received a $155 million CMBS loan for the refinancing of 28-40 West 23rd Street, a 578,105-square-foot mixed-use property in Manhattan. The two-building complex, which originally housed the Ladies Mile department store, is located between Fifth and Sixth avenues in the Flatiron District. Home Depot serves as the property’s longtime retail anchor tenant and recently signed a renewal. Office tenants include digital credit card company Ramp and Estee Lauder brand Aramis. Citi Real Estate Funding provided the five-year loan, and Williams Equities will use a portion of the proceeds to fund capital improvements.
OXNARD, CALIF. — Los Angeles-based Primestor Development has acquired Esplanade Shopping Center, a grocery-anchored retail center in Oxnard, for $90 million. The 357,000-square-foot center was 94 percent leased at the time of sale. Current tenants include Home Depot, Nordstrom Rack, Staples, Dick’s Sporting Goods, TJ Maxx, Walmart Neighborhood Market, Cost Plus World Market, Tilly’s, Boot Barn, In-N-Out Burger and BJ’s Brewery and Restaurant.
SCOTTSDALE, ARIZ. — Houston-based Whitestone REIT (NYSE: WSR) has purchased Scottsdale Commons, a retail center at 7119 E. Shea Blvd. in Scottdale. Trojan Development Associates III LLC sold the asset for $22.2 million. Additional terms of the transaction were not released. Situated on 6.2 acres, the 69,482-square-foot Scottsdale Commons was 96.6 percent occupied at the time of sale. Current tenants include Rosati’s Chicago Pizza, Rusty Nail Meats, U.S. Egg, Companion Pet Partners, Prep Kitchens, BevMo, Black Rifle Coffee, Mountain View Pharmacy, H&R Block, Green Corner Mediterranean and Habanero’s Restaurant. Joseph Compagno and Benjamin Farthing of CBRE represented the seller and the buyer in the transaction.
NEW YORK CITY — Harbor Group International has completed the $128 million renovation of an office building located at 51 W. 52nd Ave. in Midtown Manhattan. The building now features updated lobbies and tenant amenities, including a fitness center, lounges and conference facilities, as well as new elevators and furniture. Vocon and MdeAS Architects served as the project architects. Harbor Group acquired the 38-story, 900,000-square-foot building, which houses the headquarters of CBS, in late 2021. The owner also has its 25,000-square-foot headquarters office on the 19th floor of the building.
BEND, ORE. — Dwight Mortgage Trust, an affiliate REIT of Dwight Capital, has provided $58.8 million in bridge financing for Solis at Petrosa, an apartment complex in Bend. McBride Capital brokered the transaction for the borrower, Pahlisch Commercial. Proceeds from the loan will go towards refinancing the borrower’s existing construction debt and fund an operating reserve to facilitate lease-up. Situated on 10 acres, the community features 260 apartments spread across eight three-story buildings. Community amenities include a pool, community lounge with a full kitchen, fitness room, golf simulator room and pet wash station.
CHICAGO — McHugh Construction has completed Flyover, an immersive flight ride attraction at the west entrance of Chicago’s Navy Pier. The upwards of $40 million project involved the demolition of the former IMAX theater and the build-out of an approximately 48,000-square-foot space into three separate rooms as well as ancillary space. The ride space includes a 65-foot spherical screen and 61 suspended seats that dip and tilt to give riders the feeling of soaring over Chicago’s neighborhoods. Riders also experience wind, mist and scents. The project team included developer Pursuit, an attractions and hospitality company. Chicago-based Epstein was the architect.
WOBURN, MASS. —Mesa West Capital has provided an $81 million loan for the refinancing of Emblem 120, a 289-unit apartment complex in the northern Boston suburb of Woburn. Developed by a joint venture between Toll Brothers and Carlyle Group in 2022, Emblem 120 rises six stories and offers studio, one-, two- and three-bedroom floor plans. Amenities include a central courtyard, work-from-home space, rooftop terrace and lounge, pool with cabanas and a fitness center. The property also includes 9,390 square feet of street-level retail space. David Douvadjian, Timothy O’Donnell and David Douvadjian Jr. of Newmark arranged the debt through an undisclosed direct lender on behalf of the joint venture.
LOS ANGELES — CBRE has secured $36.4 million in post-acquisition financing for TRC to recapitalize the purchase of La Canada Flintridge Town Center in Los Angeles. Target anchors the 115,939-square-foot property. At the time of financing, the center was 96.7 percent occupied by a mix of tenants, including HomeGoods, Panera Bread, Habit Burger and Taylor’s. Shaun Moothart, Bruce Francis, Bob Ybarra, Doug Birrell, Nick Santangelo and Jim Korinek of CBRE’s Capital Markets Debt and Structured Finance assisted in securing the seven-year, full-term interest-only loan on behalf of TRC.