FLOWER MOUND, TEXAS — Yeager Properties has been approved by The Town of Flower Mound to bring new office suites to the town, which is situated on the outskirts of Dallas. The designated location at 3611 Cross Timbers Road will feature roughly 40,000 square feet of office space capable of accommodating as many as 400 people. An additional plot of 8,665 square feet has been reserved as add-on space for two unnamed restaurants. Yeager, which already has a presence in Plano, Frisco and Allen, plans to deliver the new office space this November
PHILADELPHIA — Harrison Street Real Estate Capital has purchased two medical office buildings, located at 8001 and 8040 Roosevelt Blvd. in Philadelphia. An affiliate of George Comfort & Sons sold the properties, which total 86,000 square feet, for $17 million. The properties recently underwent renovations and were 94.7 percent leased at the time of sale. Thomas Jefferson University Hospital anchors the facilities. Ben Appel, Philip Mahler, Evan Kovac and Eric Anton of HFF represented the seller in the transaction.
BILLERICA AND MARLBOROUGH, MASS. — The RAM Cos. has acquired two industrial and flex buildings, located at 35 Dunham Road in Billerica and 734 Forest St. in Marlborough, for $10.1 million. The Billerica property offers 65,912 square feet of space and is located within Middlesex Corporate Park. Tark Inc., SciSafe and Microchips Biotech are tenants at the property. Situated within Cedar Hill Business Park, the Marlborough property features 54,884 square feet of industrial space. At the time of sale, the property was fully leased to a variety of tenants, including CeQur Corp., Sunrun, Chroma Systems Solutions and Commonwealth Financial Network. The name of the seller was not released.
WHITE PLAINS, N.Y. — Houlihan-Parnes Realtors has arranged a $12.5 million first mortgage for an office building located at 4 W. Red Oak Lane in White Plains. Christie Houlihan of Houlihan-Parnes secured the non-recourse loan, which features a fixed rate for seven years and a five-year extension option, for the undisclosed borrower. The 132,995-square-foot building was 99 percent leased at the time of financing.
NEW YORK CITY — CTA Architects, as architect, and Brend Renovation, as general contractor, have completed a $10 million exterior renovation of Morningside Gardens, a six-building, 980-unit apartment complex in Manhattan’s West Harlem section, for Morningside Heights Housing Corp. The project repaired 560,000 square feet of façades and 80,500 square feet of roofs. Renovations included repairs to and repointing of the brick façade; replacement and repairs of deteriorated and delaminated metal-clad blue stone window sills; renovations to selection flashings, lintels and concrete balconies and rails; gutter and scupper drain repairs; waterproofing of roofs; replacement of all roof rails; and repairs to rooftop elevator bulkheads. Morningside Heights Housing Corp. manages the apartment complex and support facilities.
RIDGEFIELD, N.J. — KW International has signed a long-term lease for an industrial building located at 2 Bell Drive in Ridgefield. The Carson, Calif.-based company will occupy the entire 83,000-square-foot speculative building. Mike Markey, Jon Tesser and Reid Wilbraham of Colliers International represented the tenant, while Stephen Elman of Cushman & Wakefield represented the landlord, Sitex Group, in the deal.
ONTARIO, CALIF. — MGR Services has acquired Empire Towers I through IV, a four-building, 400,976-square-foot office campus in Ontario, for $78.5 million. The Class A campus is located at 3633 and 4141 Inland Empire Blvd. and 3800 and 4200 Concours St. The property is 88 percent leased to Liberty Mutual, Wells Fargo, City National Bank, Merrill Lynch and Allstate, among others. The property was built between 1991 and 2005. The common areas underwent a renovation between 2014 and 2016. David Milestone and Brett Green of NGKF Capital Markets secured acquisition financing on behalf of MGR Services, which represented itself in the transaction. The firm’s Kevin Shannon, Ken White, Michael Moore and Brunson Howard represented the seller, a joint venture between CIP Real Estate and Guggenheim Partners.
LOS ANGELES — CityView has sold the 204-unit Solimar apartment community in Los Angeles to a private investor for $75 million. The community is located at 1500 W. Pacific Coast Highway. Solimar sits adjacent to the Harbor Park Municipal Golf Course and the Ken Malloy Harbor Regional Park, where a $90 million renovation is nearing completion. It is the final property from CityView Los Angeles Fund I, which built or renovated more than 2,500 housing units in 21 projects throughout the greater Los Angeles area.
DETROIT — The Griswold, a $24 million apartment community, has opened in Detroit. The apartments, which sit atop a 10-story parking garage and retail structure, occupy floors 11 through 15 and consist of 80 one-, two- and three-bedroom units. The apartment homes feature open floor plans with nine-foot ceilings, floor-to-ceiling windows, granite countertops, stainless steel appliances and concrete floors. Apartments range from 750 to 1,600 square feet with rental rates from $1,030 to $3,500. The community is located at 1117 Griswold St. The Griswold is Detroit’s first new residential downtown construction project in 25 years, according to Fourmidable, which is managing the property. Roxbury Group was the developer, Walbridge was the construction manager and Kraemer Design Group served as the architect.
DENVER — Camden Property Trust has opened Camden Lincoln Station, an upscale, transit-oriented apartment community in the Denver submarket of Lone Tree. Units include stainless steel appliances, electric cooktops, quartz countertops and islands. Camden Lincoln Station also features a fitness center, yoga studio and two large courtyards with fire pits, gas grills, seating, lawn games and outdoor table tennis. This is Camden’s eighth community in the Denver metro area.