DALLAS — A joint venture between Dallas-based Pillar Commercial and New York-based Ascent Real Estate Advisors has acquired Rambler Park, a 310,943-square-foot office building in North Dallas. The 14-story building is located within a medical district that is anchored by Texas Health Presbyterian Hospital and is home to multiple healthcare tenants. Brian Carlton and De’On Collins of JLL arranged an undisclosed amount of acquisition financing for the deal through First Bank. The seller was not disclosed.
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HOUSTON — Gutor Electronics America has signed an approximately 90,000-square-foot industrial lease in northwest Houston. The U.S. affiliate of the Swiss provider of electrical components and power solutions is taking space at Houston Point 290, a three-building, 383,076-square-foot development. Robert Johnson IV and Charles Fertitta Jr. of Hughes Marino represented the tenant in the lease negotiations. The landlord, Creation, was self-represented. The deal brings Houston Point 290 to full occupancy.
STAMFORD, CONN. — CBRE has arranged the sale of a portfolio of three medical office buildings in the southern coastal Connecticut city of Stamford. The portfolio’s square footage was not disclosed. The buildings at 945, 999 and 1275 Summer Street are home to 15 different medical and dental practices in fields such as orthopedics, pediatrics, orthodontics and female reproductive health. Jeff Dunne, Steve Bardsley, Travis Langer, Brannan Knott and Chris Bodnar of CBRE represented the seller, Summer Street Properties, in the transaction. CBRE also procured the buyer, an affiliate of Albany Road Real Estate Partners.
NEW YORK CITY — North Bridge, a provider of commercial credit solutions, has provided an $8.5 million C-PACE (Commercial Property Assessed Clean Energy) loan for Herald Towers, a three-building apartment complex located at 50 W. 34th St. in Midtown Manhattan. The borrower, JEMB Realty, will use the loan proceeds to fund infrastructural upgrades and modernize building systems across the 690-unit complex. According to North Bridge, the transaction represents the first multifamily C-PACE deal to close in New York City.
WOODCLIFF LAKE, N.J. — Locally based brokerage firm The Kislak Co. Inc. has negotiated the $8.8 million sale of a 14-unit apartment building in Woodcliff Lake, located near the New York-New Jersey border. The three-story building at 62 Broadway was completed in 2019 and includes five retail spaces. According to Apartments.com, the building houses one- and two-bedroom units that range in size from 755 to 1,150 square feet. Jason Pucci and Barry Waisbrod of Kislak represented the seller in the transaction, and Michael Todaro of Serhant Real Estate procured the buyer. Both parties requested anonymity.
SEATTLE — Cushman & Wakefield has arranged $53 million in refinancing for 110 Roy Street, an apartment property in Seattle. Dave Karson, Chris Moyer, Alex Lapidus and Zarif Hasan of Cushman & Wakefield represented the borrower, Low Tide Properties, in securing the five-year financing, provided by Northwestern Mutual. Situated in Seattle’s Queen Anne neighborhood, 110 Roy Street features 167 studio, one- and two-bedroom apartments. Community amenities include a rooftop terrace, 24-hour fitness studio, pet spa and a resident lounge. Additionally, the property features 6,700 square feet of ground-floor retail space along Roy Street. The asset was developed by Continental Properties in partnership with Low Tide Properties.
NEW YORK CITY — StoneX has signed a 21,904-square-foot office lease expansion in Midtown Manhattan. The global financial services firm is taking additional space on the 32nd floor at 230 Park Avenue, bringing its total footprint to 94,742 square feet. Mark Weiss, Scott Shelbourne and Melissa Rubenstein of Cushman & Wakefield represented StoneX in the lease negotiations. Brian Waterman, Scott Klau, Erik Harris, Zach Weil and Cole Gendels of Newmark, along with internal agents Andrew Ackerman and Walter Rooney, represented the landlord, RXR.
LAS VEGAS — Lucescu Realty has arranged the sale of Peccole Plaza, a shopping center in Las Vegas. Peccole Enterprises sold the asset to a privately held, Las Vegas-based development and investment company for $38.6 million. Peccole Plaza features 161,978 square feet of gross leasable area that is fully leased to a variety of tenants. Current tenants include Kohl’s, Guitar Center, Golf Galaxy, Walgreens, Jack in the Box, Dotty’s, Green Valley Grocery and Desert Orthopaedic. Mark Lucescu and Tanner Englelage of Lucescu Realty were the sole brokers for the transaction. The Lucescu Realty team represented the seller and procured the buyer in the the deal.
Progressive Real Estate Brokers $13.5M Sale of Multi-Tenant Retail Center in Walnut, California
by Amy Works
WALNUT, CALIF. — Progressive Real Estate Partners has negotiated the sale of The Shops at Walnut Hills Plaza, a fully leased shopping center located at 18718-18766 Amar Road in Walnut. Portola Real Estate Partners acquired the asset from a Los Angeles-based private investor for $13.5 million. Roxy Klein and Greg Bedell of Progressive Real Estate Partners represented the seller in the deal. Built in 1983, The Shops at Walnut Plaza features 19 e-commerce-resistant tenants, including restaurants, medical, beauty and daily-needs operators. O’Reilly Auto Parts, Little Elephants Kids Place, Osuna’s Mexican Restaurant, Papa John’s Pizza, Native Fields Restaurant, Walnut Hills Family Dentistry, Pediatric Dentistry and Sky Nails are tenants at the 37,173-square-foot property.
LOS ANGELES — Los Angeles-based Dunleer has purchased a multi-tenant industrial building located at 7502-7536 Tyrone Ave. in the Van Nuys neighborhood of Los Angeles for $10.5 million, or $307 per square foot, in an off-market transaction. The name of the seller was not released. Built in 2009, the 34,366-square-foot property features eight units with a clear height of 20 feet, fire sprinklers, 12-foot-by-12-foot loading doors, reserved and gated parking, air conditioning and high-finish space and bathrooms. At the time of acquisition, the property was fully occupied.