Property Type

Core5 Industrial Partners Acquires Site in Hutchins, Texas, for 754,897 SF Industrial Facility

by Amy Works January 13, 2017

HUTCHINS, TEXAS — Core5 Industrial Partners has acquired two adjacent land sites totaling 41.5 acres at 1200 W. Wintergreen Road in Hutchins. The buyer plans to construct a speculative 754,897-square-foot distribution and warehouse facility on the site. The location provides convenient access to interstates 45, 20, 30 and 35E. John Leinbaugh and Matt Elliott of NAI Robert Lynn, along with Brent Wicker and Randy Church of Wicker & Associates, represented the buyer in the deal. The name of the seller and acquisition price were not released.

January 13, 2017

Berkeley Partners Refinances Five-Property Industrial Portfolio in Metro Dallas, Houston

by Amy Works January 13, 2017

DALLAS AND HOUSTON — Berkeley Partners has refinanced its five-property industrial portfolio in the metro Dallas area and Houston totaling 440,473 square feet. Jeff Sause, Kevin Mackenzie and Adam Herrin of HFF placed the $14.1 million, five-year, fixed-rate loan with LegacyTexas Bank on behalf of Berkeley Partners. The portfolio comprises 13 buildings at five properties in Beltwood Tech Center in Farmers Branch; Center Point Business Park in Mesquite; Glenville Business Center in Richardson; and Valpointe Business Park in Carrolton; and Cypress II Building Center in Houston. The multi-tenant properties are leased to companies such as Turn Around Communications, Security Control System, Arsham Gymnastics, Texas Metals Industrials, Murray Drywall and InterFET Corp.

January 13, 2017

Loans Multifamily Texas

Dougherty Mortgage Closes $3.8M Loan for 64-Unit Multifamily Property in Metro Dallas

by Amy Works January 13, 2017

IRVING, TEXAS — Dougherty Mortgage has closed a $3.8 million Fannie Mae loan for the refinancing for Woodwind Apartment Homes, a 64-unit multifamily property located in the Dallas suburb Irving. The 10-year loan features a 30-year amortization schedule. The loan was arranged through a partnership with Old Capital Lending and Dougherty’s Vienna, Va., office for the borrower, DCP 3947 Pleasant Run Road LLC.

January 13, 2017

Industrial Office Texas

Colliers Facilitates Sale of 41,170 SF Office, Warehouse Property in Houston

by Amy Works January 13, 2017

HOUSTON — Colliers International has arranged the sale of an office and warehouse building located within Park 10 at 16337 Park Row in Houston. Plano Vistas Ltd. sold the 41,170-square-foot property to 16337 Park Row LLC for an undisclosed price. Marshall Clinkscales of Colliers International represented the seller, while Marc Drumwright of Southwest Realty Advisors represented the buyer in the deal. Tom Hamilton of Alamo Title Co. handled the closing.

January 13, 2017

New Jersey Northeast Office

LNR Property Sells 450,000 SF Office Tower in Downtown Newark

by Amy Works January 13, 2017

NEWARK, N.J. — LNR Property, a subsidiary of Starwood Property Trust Inc., has completed the sale of 33 Washington Street, an iconic office tower located in downtown Newark. Berger Organization acquired the 450,000-square-foot property for an undisclosed price. Situated on 1.6 acres, the 18-story property features a fitness center, shared conference rooms, on-site parking, a lobby and views of the Manhattan skyline. Audible and DHL, among other tenants, occupy the multi-tenant building. Jose Cruz, Kevin O’Hearn, Stephen Simonelli and Michael Oliver of HFF represented the seller in the deal.

January 13, 2017

Hospitality Loans New Jersey Northeast Pennsylvania

Sonnenblick-Eichner Co. Arranges $92M in Refinancing for Four Hotels

by Amy Works January 13, 2017

BEVERLY HILLS, CALIF. — Beverly Hills-based Sonnenblick-Eichner Co. has arranged $92 million in first mortgage debt to refinance a portfolio of four hotels totaling 592 rooms. The financing consists of four separate non-recourse, non-cross collateralized loans from three different lenders. Sonnenblick-Eichner Co. was able to arrange for a money center commercial bank to provide 10-year, fixed-rate financing on each of the Hyatt House properties and LIBOR-based floating rate financing from two regional banks for the remaining properties. The properties are the 147-room Hyatt House Philadelphia/King of Prussia in King of Prussia, Pa., the 126-room Hilton Garden Inn Albany/SUNY in Albany, N.Y., the 171-room Archer Hotel in Austin, Texas, and the 148-room Hyatt House Falls Church/Merrifield in Falls Church, Va.

January 13, 2017

Loans New Jersey Northeast Office

CBRE Secures $24M in Refinancing for 154,776 SF Office Building in Hanover, New Jersey

by Amy Works January 13, 2017

HANOVER, N.J. — CBRE Capital Markets has arranged a $24 million bridge loan for the refinancing of 10 Park Avenue, a vacant office building located in Hanover. The borrower was Ravine Development Co. Built in 2001, the 154,776-square-foot Class A office building features a 376-person full-service cafeteria, fitness center and multi-media room. The property housed Metropolitan Life’s international fixed-income investment division for 13.5 years until the tenant move to MetLife’s new global headquarters at the end of October 2016. James Gunning, Donna Falzarano and Stephen Joseph of CBRE secured the loan, which was provided by The Provident Bank of New Jersey.

January 13, 2017

New York Northeast Office

JV Completes $12M Modernization of 172,000 SF Office Building in the Bronx

by Amy Works January 13, 2017

NEW YORK CITY — Savanna, in a joint venture with Hornig Capital Partners, has completed a $12 million capital improvement project at The Bruckner Building in the South Bronx neighborhood of Mott Haven. Located at 2417 Third Ave., the eight-story property features 172,000 square feet of office and light industrial space. With completion of the improvements, the building now offers commercial space for tenants as small as 1,000 square feet to as large as 21,000 square feet. Additionally, the property offers three billboard signage opportunities.

January 13, 2017

Industrial Northeast Pennsylvania

Hinerfield Commercial Brokers Sale of 51,000 SF Industrial Building in Scranton, Pennsylvania

by Amy Works January 13, 2017

SCRANTON, PA. — Hinerfield Commercial Real Estate Co. has arranged the sale of an industrial building, located at 1350 Von Storch Ave. in Scranton. 1350 Von Storch Avenue LLC acquired the property for an undisclosed price. Situated on three acres, the building features 50,000 square feet of industrial space and 1,000 square feet of office space. Richard Levy of Hinerfield represented the seller, Von Storch Avenue LLC, while Steve Farrell of Classic Properties represented the buyer in the transaction.

January 13, 2017

California Office Top Stories Western

Cushman & Wakefield Arranges $130M Sale of Office Portfolio in San Francisco

by Kristin Harlow January 13, 2017

SAN FRANCISCO — Cushman & Wakefield has arranged the sale of a portfolio of Sleepy Hollow Investment Co. office properties for $130 million. The portfolio consists of multi-tenant office buildings located in several markets throughout the San Francisco Bay Area. The portfolio was sold in components to five buyers that included Eagle Canyon Capital, Square I, STG Group, James Lindsey and Long Market Property Partners. Totaling 661,319 square feet, the portfolio spans 10 properties comprising 14 office buildings located on over 32 acres. The assets are located in Pleasant Hill, Walnut Creek, Orinda, San Ramon, Dublin, Santa Rosa and Santa Clara, all in the East Bay, Silicon Valley and North Bay regions. The full list of properties was not disclosed, but two Class A office buildings in the portfolio are The Terraces in Pleasant Hill and Riviera Plaza in Walnut Creek. The portfolio is currently 92 percent occupied by 132 tenants. Eric Fox, Michael Speers and Steve Hermann of Cushman & Wakefield represented the seller. Whiff Collins of Cushman & Wakefield provided local market advisory services. Pleasant Hill-based Sleepy Hollow Investment Co. invests in and manages commercial property throughout the Bay Area. — Kristin Hiller

January 13, 2017

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