TULSA, OKLA. — BOK Financial has provided a $45 million acquisition loan for 222 North Detroit, a 260,283-square-foot office building in Tulsa. Completed in 2022, the 11-story building is located within the city’s central business district and was 95 percent leased at the time of the loan closing to tenants in the energy, legal, financial services and construction materials industries. Greg Napper, Blake Morrison and Brody Rule of JLL arranged the loan on behalf of the borrower, Fenway Capital Advisors.
Property Type
ARLINGTON, TEXAS — Houston-based investment firm Welcome Group has purchased a 100,129-square-foot industrial building in Arlington. The single-tenant building at 3101 Pinewood Drive was constructed on 4.6 acres in 1977 and renovated in 2021. According to LoopNet Inc., building features include 22-foot clear heights, 13 dock-high loading doors and four grade-level doors. The seller and sales price were not disclosed.
AUSTIN, TEXAS — EōS Fitness will open a 40,000-square-foot gym at 12707 N. MoPac Expressway in North Austin. The Dallas-based operator is backfilling a space previously occupied by Fry’s Electronics. Rise Commercial Partners represented the tenant in the lease negotiations. Global Commercial Real Estate Services represented the undisclosed landlord. The opening is set for 2027.
KELLER, TEXAS — Locally based brokerage firm LanCarte Commercial has arranged the sale of two industrial buildings totaling 9,800 square feet and a 2.9-acre land parcel in Keller, located north of Fort Worth. The properties are all located along South Main Street. Mark Boone and Matt Murff of LanCarte Commercial represented the buyer and seller, both of which requested anonymity, in the transaction.
CAMBRIDGE, MASS. — Los Angeles-based Thorofare Capital has provided a $50.5 million bridge loan for the refinancing of Cambridgeport Labs, a two-building life sciences development located across the Charles River from Boston. Located at 99 Erie St. and 167 Sidney St. near the Massachusetts Institute of Technology campus, the buildings total 56,351 square feet. The borrower, a partnership between Barings and Greatland Realty Partners, acquired the buildings in September 2022 and subsequently implemented a redevelopment to support lab and life sciences uses. Andrew Kim led the transaction for Thorofare.
INGLEWOOD, CALIF. — KPC Development Co. has topped out the construction of Kali Hotel and Rooftop, Autograph Collection, a $300 million hotel in Inglewood’s 300-acre Hollywood Park mixed-use development. Crescent Hotels & Resorts will manage the hotel, which will be part of Marriott Bonvoy’s global portfolio. Slated to open in September 2026, Kali Hotel and Rooftop will offer 300 guest rooms, including 34 suites, an all-day dining concept, lobby bar, pool and yoga deck, spa, fitness center and nearly 20,000 square feet of meeting and event space. The project team includes Clayco as general contractor, Lamar Johnson Collaborative as architect and Sixteenfifty Creative Intelligence and Gensler as interior designers.
STOCKTON, CALIF. — CBRE has secured $50 million in refinancing for Park West Place, a retail power center in Stockton. The loan was arranged on behalf of Raider Hill Advisors and Farallon Capital Management with financing provided by a national bank. Richard Henry, Mike Ryan, Brian Linnihan and Shaun Moothart of CBRE represented the sponsorship in the transaction. Built in 2008 on 58.6 acres, Park West Place offers 554,438 square feet of retail space. At the time of financing, the property was 96.4 percent leased to 46 tenants, including Lowe’s, Kohl’s, Sportsman’s Warehouse, Ross Dress for Less and TJ Maxx, with more than 40 percent of the net rentable area leased to investment-grade tenants.
Gantry Arranges $25.5M in Acquisition Financing for Power Commerce Center in Gilbert, Arizona
by Amy Works
GILBERT, ARIZ. — Gantry has secured a $25.5 million permanent loan to provide funds for the acquisition of Power Commerce Center in Gilbert. Situated on 14.2 acres at 3380 S. Power Road, the master-planned industrial park was delivered in 2023 and features 11 buildings offering 20 units totaling 146,000 rentable square feet. Additionally, the asset includes fenced outdoor yard spaces for each building. Patrick Barkley, Chad Metzger and Andrew Christopherson of Gantry represented the borrower, a private real estate investor, in the financing. The fixed-rate loan, which features a 30-year amortization, came from one of Gantry’s correspondent life company lenders. Gantry will service the loan.
PHOENIX — Regent Properties has completed the sale of a two-building flex industrial and office portfolio in Phoenix’s Deer Valley submarket to a private investor for $22.5 million. Geoffrey Turbow, Anthony DeLorenzo and Ashley Brooks of CBRE represented the seller in the transaction. Located within the North Loop 101 Business Center, the single-story buildings were constructed in 2001. The portfolio includes:
NORWALK, CONN. — Atlantic Capital Partners, the capital markets advisory division of regional brokerage firm Atlantic Retail, has arranged a $23 million loan for the refinancing of a retail building located in the southern coastal Connecticut city of Norwalk. The building at 100 Connecticut Ave. is ground-leased to Lowe’s Home Improvement on a long-term basis. Stephen Joseph and Stephen Hassenflu arranged the fixed-rate loan on behalf of the owner, Hall Investments. The direct lender was not disclosed.