WALTHAM, MASS. — Locally based construction management firm J. Calnan & Associates has delivered a 37,000-square-foot life sciences project in the western Boston suburb of Waltham. The space, which is a build-to-suit for Biocytogen Pharmaceuticals, is located at 300 Third Avenue, a 143,533-square-foot building that is owned by Dallas-based Lincoln Property Co. The facility features an open-floor design, climate-controlled vivarium and advanced cell culture and procedure suites.
NEW YORK CITY — Curtis + Ginsberg Architects has signed an 11-year, 12,602-square-foot office lease at One Battery Park Plaza in Lower Manhattan. The design firm is relocating its headquarters from 55 Broad St. to the 27th floor of the 35-story, 870,000-square-foot building. Ruth Colp-Haber of Wharton Property Advisors represented the tenant in the lease negotiations. Kevin Daly internally represented the landlord, Rudin, which originally developed the building in 1971.
LOS ANGELES — Hudson Pacific Properties has completed the sales of 604 Arizona and 3401 Exposition, two office buildings in Los Angeles, for aggregate gross proceeds of $72.5 million before prorations and closing costs. Combined, the two transactions will result in approximately a $22 million gain to be recognized in the third quarter. The company used the net proceeds to repay amounts outstanding on its unsecured revolving credit facility. The buyer was not disclosed. Hudson Pacific Properties is a provider of end-to-end real estate solutions for tech and media tenants.
TEMECULA, CALIF. — Saed Investments has completed the disposition of an industrial facility located at 43195 Business Park Drive in Temecula. Brennan Investment Group acquired the asset for an undisclosed price. Situated on 11.5 acres, the 160,561-square-foot building features a secure fenced yard, ample outdoor space, 4,000 amps at 480 volts, 15,000 square feet of office space and an additional 15,000 square feet of HVAC production area. Additionally, the facility offers 246 parking spaces, eight docks and three grade-level doors. Kelly Nicholls and Zack Martinez of Lee & Associates represented the seller in the deal.
ALBUQUERQUE, N.M. — Senior Living Investment Brokerage (SLIB) has arranged the sale of two assisted living communities in Albuquerque. The communities were built in 1972 and 1982, with renovations in 2011 and 2015. The properties are 3,176 and 7,880 square feet and are situated on approximately 0.38 and 0.6 acres of land. The seller was a mom-and-pop owner divesting to retire from the industry. The buyer is an owner-operator expanding its presence in the West. This is the buyer’s first acquisition in New Mexico. The price was not disclosed. Vince Viverito and Matthew Alley of SLIB handled the transaction.
SACRAMENTO, CALIF. — Red Oak Capital Holdings has provided $8 million in financing under its opportunistic bridge loan program to a partnership between Frank Kimball and Scott D. Greenberg for an office building located at 1300 U St. in Sacramento. The borrower will use the loan to pay off outstanding debt and complete space planning and permitting on the property. The loan was structured with a fixed rate of 11 percent and a two-year term with two six-month renewal options. The interest-only loan represents 33.47 percent of the asset’s “as-stabilized” value of $23.9 million. Situated on 1.7 acres, the single-story 47,456-square-foot building is currently in shell condition and will be built out for the California Highway Patrol, which signed a long-term lease for the space. The property provides surface parking for 77 vehicles.
LOS ANGELES — Developer Jeff Appel has completed the redevelopment of a 40,000-square-foot retail center located in Los Angeles. Matt Saker and Richard Rizika of Beta Agency will lead retail leasing efforts at the property, dubbed The Now.
OMAHA, NEB. — Marcus & Millichap has arranged the $7 million sale of Plaza Q36, an 81,592-square-foot shopping center in Omaha. The fully occupied property is located at 5101 S. 36th St. Alex Perez of Marcus & Millichap and his team represented the seller, a limited liability company. The undisclosed buyer purchased the center above asking price. Jon Ruzicka, Nebraska broker of record, assisted in closing the transaction.
ST. CHARLES, MO. — Gabe’s has opened a 76,000-square-foot store at Mark Twain Village in the St. Louis suburb of St. Charles. First National Realty Partners (FNRP) owns the property. The lease marks the first Gabe’s location within FNRP’s portfolio and the first Gabe’s store in the state of Missouri. Gabe’s is an off-price retailer offering fashion and footwear, essentials, beauty, accessories and home merchandise. Gabe’s occupies the space formerly home to Gordman’s. The center is now 97 percent leased. Other tenants include Bass Pro Shops, Duluth Trading Co., Dungarees and Aldi.
CHICAGO — Through a partnership with lulafit, Sterling Bay has opened The Factory, a new fitness and wellness space at its office building located at 600 W. Chicago Ave. The Factory totals 30,000 square feet. Users pay $35 per month and have access to a variety of offerings, including a yoga studio and meditation suite; recovery room with Therabody technology; spaces designed exclusively for HIIT, cardio, heavy bag workouts and group exercises; a sauna; steam room; and large turf installation. Built in 1908, the eight-story building formerly served as the Montgomery Ward catalog building until 2000. In 2021, with the building under the ownership and management of Sterling Bay, lulafit started designing a complete overhaul of the property’s fitness center. The Factory received more than 100 membership sign-ups on its first day, and almost 200 in its first two weeks. During its initial six months of operations, The Factory added 460 members. Data shows members utilize the space three to five times per week.