Property Type

FactSet Leases 173,000 SF of Office Space in Norwalk, Connecticut

by Amy Works March 5, 2018

NORWALK, CONN. — FactSet, a global provider of integrated financial information, analytical applications and services, has signed a lease for office space at 45 Glover Avenue, a 264,500-square-foot Class A office building located in Norwalk. The company will relocate its global headquarters from Merritt 7 Office Complex in Norwalk to 173,000 square feet at the building. Building and Land Technology (BLT) owns the property, which is now fully leased. FactSet is slated to move into the new space in the last quarter of 2019. Tim Rorick and Torey Walsh of Newmark Knight Frank represented BLT, while Joseph Cabrera and Michael Gordon of Colliers International represented the tenant in the deal.

March 5, 2018

Loans Multifamily Texas

S2 Capital Refinances 512-Unit Apartment Community in Metro Dallas

by Taylor Williams March 5, 2018

MESQUITE, TEXAS — S2 Capital LLC, an investment firm specializing in Class B multifamily assets, has refinanced Forty200, a 512-unit multifamily community located in the eastern Dallas metro of Mesquite. The property offers one- and two-bedroom units and amenities including a fitness center, pool and tennis and basketball courts. The loan, the amount of which was not disclosed, features a fixed 4.2 percent interest rate, a 75 percent loan-to-value (LTV) ratio and four years of interest-only payments. Nathan Stone, Brad Mason and Guy Griffith of Berkadia secured the financing through Fannie Mae.

March 5, 2018

Multifamily Texas

ARA Newmark Brokers Sale of 230-Unit Apartment Community in Austin

by Taylor Williams March 5, 2018

AUSTIN, TEXAS — ARA Newmark has brokered the sale of Lakeshore Pearl, a 230-unit multifamily community located adjacent to Oracle’s office campus in Austin’s East Riverside area. The property, which features a pool, fitness center, business center, theater room and storage space, was 93 percent occupied at the time of sale. Pat Jones of ARA Newmark represented the seller, an affiliate of Chicago-based Inland Private Capital. Austin-based investment firm Cypress Real Estate Advisors acquired the asset for an undisclosed price.

March 5, 2018

Mixed-Use Texas

Transwestern Brokers Sale of 2.7-Acre Site for Future Mixed-Use Project in Dallas

by Taylor Williams March 5, 2018

DALLAS — Transwestern has brokered the sale of approximately 2.7 acres at 2105 and 2211 W. Davis St. in the Oak Cliff area of Dallas for the development of a mixed-use project. Headed by GroundFloor Development, the project will feature an undetermined amount of retail space and multifamily units. The site is currently zoned for the development of 20 townhomes and a five-story apartment building with ground-floor retail. Other terms of the land sale were not disclosed.

March 5, 2018

Industrial Texas

NAI Partners Negotiates 22,719 SF Industrial Lease Near Houston’s Hobby Airport

by Taylor Williams March 5, 2018

HOUSTON — NAI Partners has negotiated an industrial lease at 8301 W. Monroe Road near William P. Hobby Airport in southeast Houston. The tenant, IPS Pump Services Inc., will occupy 22,719 square feet. Jake Wilkinson and Darren O’Conor of NAI Partners represented the landlord, Lawrence Investments LLC, in the lease negotiations.

March 5, 2018

California Industrial Western

Bixby, AXA Plan $400M Industrial Acquisition Pipeline in Western States

by Nellie Day March 5, 2018

NEWPORT BEACH, CALIF. — A joint venture between Bixby Land Co. and institutional partner AXA Investment Managers has planned to acquire approximately $400 million of core industrial properties in the Western United States. Bixby contributed an initial portfolio of seed assets to the venture as the partners seek to expand the relationship through the pursuit of additional acquisition opportunities. Bixby Land Co. currently owns more than 6 million square feet of office and industrial space in the West. The new venture will pursue middle-market properties, preferably one-off assets, between 100,000 square feet and 400,000 square feet in markets from San Diego to Seattle and as far east as Dallas. HFF’s Kevin MacKenzie, Michael Joseph, Doug Bond, Tom Mizo and Ryan Megowan represented Bixby in the joint venture arrangement.

March 5, 2018

Colorado Industrial Loans Western

Etkin Johnson Obtains $75M to Refinance Industrial Portfolio in Denver

by Nellie Day March 5, 2018

DENVER — Etkin Johnson Real Estate Partners has obtained a $75 million refinancing for the Colorado Technology Center (CTC) II Portfolio in Denver. The portfolio contains five properties inside the Colorado Technology Center, including 1900 Cherry St., 1960 Cherry St., 2000 Taylor Ave., 1900 Taylor Ave. and 633 CTC Blvd., totaling 535,787 square feet. A 109,386-square-foot, built-to-suit building at 2035 Taylor Ave. will be added to the loan once construction is completed this fall. HFF arranged the 10-year, fixed-rate loan with MetLife.

March 5, 2018

Colorado Multifamily Western

Greystar Real Estate Partners Buys 336-Unit Apartment Complex in Thornton, Colorado

by Nellie Day March 5, 2018

THORNTON, COLO. — Greystar Real Estate Partners has purchased the 336-unit Waterford Place apartment complex in Thornton for an undisclosed sum. The community is located at 2801 E. 120th Ave. Waterford Place was built in 1998. Greystar’s value-add strategy will focus on renovating all units and common areas of the asset. Unit updates will include the addition of stainless steel appliances, extended plank flooring, quartz countertops, and new lighting and hardware packages. Renovations to the common areas will feature enhancements to the pool, clubhouse, fitness center, BBQ area, dog park and sport/tennis court.

March 5, 2018

Arizona Multifamily Seniors Housing Western

LCS, Westminster Funds Start Construction of 44-Unit CCRC Expansion in Phoenix

by Nellie Day March 5, 2018

PHOENIX — A joint venture between Life Care Services and Westminster Funds has broken ground on Desert Willow Assisted Living, a 44-unit assisted living building on the campus of Sagewood, a continuing care retirement community (CCRC) in Phoenix. Located within Sagewood’s Acacia Health Center, the assisted living expansion will be available to those currently in the community as well as new residents. The building will add to Sagewood’s current 316 units. The two-story building is scheduled to open in fall 2018. Todd & Associates is serving as the architect on the project. Spellman Brady & Co. is providing interior design. The Weitz Company is the general contractor.

March 5, 2018

Nevada Restaurant Retail Western

DC Building Group Completes Taco Bell in Downtown Las Vegas

by Nellie Day March 5, 2018

LAS VEGAS — DC Building Group, a Las Vegas-based general contractor, has completed a new Taco Bell location on East Charleston Boulevard in Las Vegas, marking the first Taco Bell in downtown Las Vegas. Architect Gary Guy Wilson designed the project. The project is the second of this particular design prototype in the Las Vegas area. DC Building Group used rusted metal on the corner sign façade and horizontal silver aluminum on the slat wall for its metal aesthetics. The wall has back-lit LEDs to illuminate purple EIFS creating a branded purple glow at night. Founded in 2001, DC Building Group is a general contracting firm with a focus on the Western U.S.

March 5, 2018

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