THE WOODLANDS, TEXAS — JLL has negotiated the sale of Parkwood II, a five-story, 101,056-square-foot office building located north of Houston in The Woodlands. Kevin McConn led the JLL team that represented the undisclosed seller in the transaction. Bryant Lach and Jeff Horton, also with JLL, represented the buyer, The Woodlands Financial Group, which plans to renovate the building to serve as its new headquarters.
BRYAN, TEXAS — Colliers Mortgage has arranged a $38 million loan for the refinancing of an undisclosed seniors housing property in the Central Texas city of Bryan. The property, which is situated within a larger master-planned community, offers 159 assisted living, independent living and memory care units. Corley Audorff, Troon Dowds and Josh Williams of Colliers Mortgage arranged the three-year loan on behalf of the undisclosed borrower.
DALLAS — Marcus & Millichap has brokered the sale of Eastside Business Park, a 66,385-square-foot industrial property located at 4343 Sigma Road in North Dallas. The property was built on 5.3 acres in 1972. Adam Abushagur and Davis Cagle of Marcus & Millichap represented the seller, a private investment group, in the transaction. The duo also procured an undisclosed, Tennessee-based investor as the buyer. Eastside Business Park was 97 percent leased at the time of sale.
AUSTIN, TEXAS — iBorrow, a Los Angeles-based commercial bridge and direct lender, has provided an $11.2 million acquisition loan for a 140-bed student housing property located at 900 W. 23rd St. near the University of Texas at Austin. According to Apartments.com, the property features three-bedroom units with an average size of 1,104 square feet. The borrower, Hawkwood Ventures LLC, plans to use a portion of the proceeds to fund capital improvements.
BOSTON — Blueprint Healthcare Real Estate Advisors has arranged the sale of Advocate Healthcare of East Boston, a 165-bed skilled nursing facility. The five-story building was originally constructed in 1952 and expanded in 1965. The exiting owner-operator invested in a substantial renovation of the adult day care services wing as well as general improvements throughout the facility. The name of the New York-based buyer was not disclosed.
MANCHESTER, CONN. — Colliers has brokered the sale-leaseback of a 21,940-square-foot office building located at 160 Chapel Road in Manchester, an eastern suburb of Hartford. The property traded for $1.4 million. Bob Pagani and Christian Dietz of Colliers represented the seller, MMNT Certified Public Accountants, in the transaction. Nick Morizio of Colliers represented the buyer, private investor Dan Sullivan.
MARLBORO, N.J. — Locally based firm Private Lender Law has acquired a 20,000-square-foot office building in the Northern New Jersey community of Marlboro with plans to relocate from nearby Freehold. The firm will occupy approximately half of the two-story building, which was constructed in 1988 and previously housed the Marlboro Medical Annex. The relocation will begin in December. The seller and sales price were not disclosed.
NEW YORK CITY — CBRE has negotiated five office leases totaling 17,687 square feet at 424 Madison Avenue in Midtown Manhattan. The new tenants are Japanese Medical Care, Alignage Fertility, Vaerstandig & Sons, Yehuda Diamond Co. and JKB2 Medical Management. Paul Walker and Jordan Donohue represented the landlord, BLDG Management, in the lease negotiations. The tenant representatives were not disclosed.
NEW YORK CITY — The Jewish Board of Family & Children’s Services Inc. has signed a 12,230-square-foot office sublease at 463 Seventh Avenue in Manhattan. The 22-story building was originally constructed in 1925. David Levy of Adams & Co. represented the landlord, The Arsenal Co., in the lease negotiations. David Lebenstein of Cushman & Wakefield represented the tenant.
LIBERTY, MO. — The Opus Group has begun construction of two additional speculative buildings within Liberty Heartland Logistics Center in Liberty, a northeast suburb of Kansas City. The two-building project is a joint venture between Opus and Washington Capital Management Inc. A 572,000-square-foot building at 1401 Shepherd Road will feature a clear height of 36 feet, four drive-in doors, 76 dock doors, 152 stalls for trailer parking and 547 vehicle parking stalls. A 240,000-square-foot building at 1501 Shepherd Road will feature a clear height of 32 feet, two drive-in doors, 32 dock doors, 67 trailer parking stalls and 259 vehicle parking stalls. Completion is slated for summer 2023. Opus is the developer, design-builder, architect and structural engineer. Michael VanBuskirk, Mark Long, John Hassler and Scott Bluhm of Newmark Zimmer are marketing the buildings for lease.