WATERTOWN, MASS. — Biopharmaceutical company LifeMine has signed a 56,465-square-foot life sciences lease in the western Boston suburb of Watertown. The building at 66 Galen St. is a newly completed, 225,000-square-foot facility that is part of a larger, 450,000-square-foot campus. Evan Gallagher and John Carroll of Colliers represented LifeMine in the lease negotiations. Duncan Gratton, Connor Barnes and Joe Pearce of Cushman & Wakefield represented the landlord, a partnership between two locally based firms, Davis Cos. and Boston Development Group.
LOS ANGELES — JEBS Hollywood Entertainment LLC has acquired Dolby Theatre, an iconic live performance entertainment auditorium in Los Angeles’ Hollywood neighborhood. Terms of the transaction, which included two surface parking lots totaling 1.45 acres, were not released. Built in 2001 and home of the Academy Awards since 2002, the 180,000-square-foot theater offers 3,400 seats. The asset is located at 6801 Hollywood Blvd. within the Ovation Hollywood retail complex. Chris Bonbright of Avison Young represented the buyer, while Will Poulsen and Peter Hajimihalis of JLL and Carl Muhlstein of Muhlstein CRE represented the undisclosed seller in the deal. Slatt Capital’s Antonio Hachem, Cornelius Baliukonis and Wendy Wang arranged debt financing, which was provided by Castellan Real Estate Partners. JEBS Hollywood Entertainment is led by Elie Samaha and includes Sherwin Jarol, Jeff Sagansky, Jonah Lazowski, Two Girls Holdings LLC and Sheikh Abdulla Bin Mohamed Al Qasimi through his investment firm, Master Investment Group.
CARLSBAD, CALIF. — Berkadia has arranged $92.5 million in refinancing for two hotels in Carlsbad — Cape Rey Carlsbad Beach, a Hilton Resort & Spa and Hilton Garden Inn Carlsbad Beach. Scott Hall and Aaron Lapping of Berkadia Hotels & Hospitality secured the loan through MetLife Investment Management on behalf of the borrower, California-based Wave Crest Hotels and Resorts. The five-year loan features a half-term interest-only provision and a 65 percent loan-to-value ratio. The 215-key Cape Rey Carlsbad Beach and the 161-key Hilton Garden Inn Carlsbad Beach both offer access to beaches, shopping, golf, Legoland and the Flower Fields. The hotels feature ocean views, outdoor pool areas and meeting and event venues.
ALLENTOWN, PA. — NAI Summit has brokered the sale of a 32,329-square-foot warehouse located at 801 W. Greenleaf St. in the Lehigh Valley city of Allentown. According to LoopNet Inc., the property was originally built in 1925 and renovated in 1990 and features a clear height of 18 feet. Mike Adams and Sarah Finney Miller of NAI Summit represented the seller, personal care products manufacturer Spartan Brands, in the transaction. The Allentown Economic Development Corp. purchased the building for $1.4 million.
SAN FRANCISCO — Forge Development Partners has started its project to convert the historic Humboldt Bank, an office building located at 785 Market St. in San Francisco into workforce housing. Forge plans to begin construction on 785 Market Street in early 2025, contingent on pending legislation. Planned renovations will preserve the 19-story building’s historic façade, ground-floor retail space and Baroque-style dome, while upgrading the infrastructure of the building to provide a high-quality scaled living experience for middle-income residents. Upon completion, 785 Market Street, which was originally built in 1908, will feature 124 apartments. The project aligns with the city’s housing production initiative to bring 30,000 new residences and students to downtown San Francisco by 2030 and targets a zero net carbon and energy solution. Forge is partnering with Cordia, a San Francisco-based energy solution company that purifies groundwater, to produce steam that will be piped through 785 Market Street and used for space heating, domestic hot water and air conditioning.
BELGRADE, MONT. — Rimrock Cos. has developed the first Extended Stay America-branded hotel in Montana. Located at 101 Abby St. in Belgrade, the four-story Extended Stay America Premier Suites Belgrade – Bozeman – Yellowstone Airport offers 124 guest rooms and convenient access to the area’s top attractions and businesses. The hotel features free Wi-Fi, complimentary breakfast, premium cable, a 24-hour fitness room, on-site guest laundry, a dedicated pet area, and a grill and picnic area, as well as the Extended Stay America Premier Suites’ signature lobby with vending options. Each suite includes signature bedding, recliner, workspace and a fully equipped kitchen with a full-size refrigerator, microwaves, stovetops, cookware, utensils and dishes. Hotel Management & Consulting will manage the hotel.
LAS VEGAS — CommCap Advisors has arranged $7.2 million in refinancing for Spencer Street Industrial in the Las Vegas Airport submarket. The borrower was Spencer Street Investors LLC. The property consists of two single-story multi-tenant warehouse and distribution facilities totaling 162,342 rentable square feet. CommCap Advisors secured the full-term interest-only loan through one of CommCap’s correspondent life insurance companies.
WARMINSTER, PA. — Kids Empire has opened a 12,000-square-foot indoor playground in Warminster, a northern suburb of Philadelphia. The space is located within the 266,000-square-foot Center Point Place shopping center and features floor-to-ceiling climbing walls, play structures, ball pits, slides and interactive games. Rob Samtmann of Equity Retail Brokers represented Kids Empire in the lease negotiations. Westover Commercial owns Center Point Place.
GRAND RAPIDS, MICH.— Grand Rapids-based food solutions company SpartanNash has acquired Fresh Encounter Inc. (FEI), a 49-store supermarket chain with locations in Ohio, Indiana and Kentucky. This move expands SpartanNash’s retail footprint by 33 percent and marks the company’s second retail acquisition this year, following its purchase of Metcalfe’s Market in April. FEI operates stores under the banners Community Markets, Remke Markets, Chief Markets and Needler’s Fresh Market, and has been a food distribution customer of SpartanNash for 58 years. The transaction is expected to close in late November, subject to customary conditions.
GENEVA, ILL. — Mid-America Real Estate Corp. has arranged the sale of Randall Square Shops in Geneva, about 40 miles west of Chicago. The sales price was undisclosed. The 54,147-square-foot retail center is home to McAlister’s Deli, Hand and Stone Massage, For Eyes, Men’s Wearhouse, Golf Tec, Milan Laser and Popeye’s. Joe Girardi and Emily Gadomski of Mid-America represented the seller, Viking Partners. Chicago-based Northpond Partners was the buyer.