HUMBLE, TEXAS — NAI Partners has arranged the sale of a 13,361-square-foot industrial property located at 6425 and 6435 Storey Drive in the northeastern Houston metro of Humble. Joel Michael of NAI Partners represented the buyer, industrial contractor Persons Development & Construction Services LLC, in the transaction. Other terms of sale were not disclosed.
SEATTLE — Ziegler has closed $75 million in bond financing for Horizon House, a 482-unit continuing care retirement community (CCRC) in downtown Seattle. Horizon House is a nonprofit community affiliated with the Pacific Northwest Conference of the United Church of Christ. The property is home to more than 540 residents in 378 independent living apartments, 80 assisted living apartments and 25 memory care apartments. Horizon House will use the proceeds of the bonds to pay off $56.5 million in outstanding bonds from 2014 and fund renovations.
FULLERTON, CALIF. — Independent Trading Co. has purchased a 181,069-square-foot industrial property in Fullerton for $32.5 million. The building is located at 4150 N. Palm St. The asset features amenities like 6,984 square feet of office space, 32-foot clear height, dock-high loading, a large truck court and ESFR sprinkler system. Independent Trading Co. is relocating to North Orange County from Whittier. DAUM Commercial Real Estate Services represented the buyer, while CBRE represented the seller, Western Realco, in this transaction.
PORTLAND, ORE. — A joint venture between Goldman Sachs Asset Management Private Real Estate and HP Investors has acquired a two-property office portfolio in Portland for an undisclosed sum. The properties included in the transaction are Block 90 and 300 Building. The portfolio contains a total of 85,753 square feet. The assets are situated adjacent to one another. They comprise an entire block in the Pearl District and are listed on the National Historic Register. The JV plans to maintain the boutique creative office space that caters to demand from a wide range of tenants in the marketplace looking for authentic, repurposed office space.
PEMBROKE PINES, FLA. — Aztec Group Inc. has secured a $56.8 million construction loan for the development of a 387-unit apartment community at Pembroke Pines City Center, a 325,000-square-foot mixed-use project under development in Broward County. The site is located at the southwest corner of Palm Avenue and Pines Boulevard in Pembroke Pines. Jason Shapiro and Sean Harrington of Aztec Group arranged the loan through Florida Community Bank on behalf of the borrower and project developer, Terra City Center MF LLC. The community will feature a resort-style pool, fitness center and clubhouse. Terra is currently underway on the retail portion of Pembroke Pines City Center, which is more than 70 percent preleased to tenants including Publix, Carl’s Patio, Cooper’s Hawk, BurgerFi, Smoothie King, PizzaRev, Bento Café and The Halal Guys. In addition, the project is located adjacent to the city’s recently completed civic center, which includes a 3,500-seat performing arts center and conference hall, outdoor plaza, 10,000-square-foot art gallery and a new city hall. Pembroke Pines City Center is expected to complete in 2019, according to the South Florida Business Journal.
ATLANTA — CBRE has arranged the sale of University Office Park, a 1.2 million-square-foot office park situated on 78 acres in Atlanta’s Northeast office submarket. Jason Parsonnet, Will Yowell, Jay O’Meara and Ryan Reethof of CBRE arranged the transaction on behalf of the seller, DRA Advisors. An Atlanta-based investment group acquired the 21-building campus for an undisclosed price. The Centers for Disease Control, FEMA and the IRS anchor University Office Park. In addition, the park is home to information technology services firm WiPro Limited’s operations hub and training center. CBRE has been retained by the new ownership to lease and manage the office park.
ATLANTA — London-based GSMA, a trade organization that represents the interests of more than 800 mobile operators worldwide, has opened its new North American regional office at 165 Ottley Drive in Atlanta’s Armour Yards development. GSMA operator members in the North American region include companies such as AT&T, Bell Mobility, Digicel, Rogers Communications, Sprint, T-Mobile, Telus and Verizon. GSMA held a ribbon cutting ceremony for the grand opening on Friday, Jan. 11. The new office space features flexible work areas, open collaboration and meeting facilities and access to amenities within the Armour Yards campus. The building will house roughly 90 GSMA employees. Situated near the BeltLine, Armour Yards comprises 28 buildings and is home to companies including Sweetwater Brewing Co., American Sprit Works, Fox Bros. Bar-B-Q and East Pole Coffee Co. The loft-office portion is housed within four former industrial buildings and features creative office space.
LAKELAND AND WINTER HAVEN, FLA. — JLL has arranged the $28.8 million sale of a four-building, 426,000-square-foot industrial portfolio in Central Florida. Three of the facilities are located within Parkway Corporate Center at 4070, 4035 and 4150 S. Pipkin Road in Lakeland. The fourth building is located at 750 42nd Ave. in Winter Haven. Ryan Vaught and Robyn Hurrell of JLL arranged the transaction on behalf of the seller, Parkway Partners. Dalfen America Corp. acquired the properties as one portfolio. All of the facilities in the portfolio were built within the last 10 years and feature tilt-wall construction, ESFR sprinkler systems, rear-load facilities, oversized truck courts and on-site trailer storage. At the time of sale, the portfolio was 85 percent leased to multiple tenants, including Packaging Corp. of America, one of the largest producers of containerboard and corrugated packaging products in the country.
ALEXANDRIA, LA. — Franklin Street has arranged the $3.2 million sale of The Bulls Eye, a newly constructed, 6,400-square-foot strip retail center located at 3504 Jackson St. in Alexandria. John Tennant and Bryan Belk of Franklin Street arranged the transaction on behalf of the seller, Nashville-based D3 Alexandria LLC. Boise, Idaho-based Latta Properties LLC acquired the asset. At the time of sale, The Bulls Eye was home to Mattress Firm and Verizon Wireless.
NEW YORK CITY — ATCO Properties & Management has closed a $72.7 million refinancing for an office building located at 240-246 W. 35th St. in Manhattan’s Garment District. MetLife Investment Management provided the five-year, fixed-rate loan. Jordan Roeschlaub and Dustin Stolly of Newmark Knight Frank arranged the financing. ATCO acquired the 165,000-square-foot building in 2016 and has executed new leases and implemented capital improvement projects at the 18-story property. The company executed 47,000 square feet of new leases and renewals during 2017 and completed several improvement projects, including a new lobby renovation, common corridor upgrades and sidewalk improvements. Newsday, Fidelus Technologies, Jason Wu, Carrier Enterprises Northeast, Nexguard Labs and Café Metro are tenants at the building.