HOUSTON — NAI Partners has arranged the sale of a crane-served manufacturing facility located at 8550 Telephone Road in Houston. Metal Works Properties sold the 57,360-square-foot property to Durco Ltd. for an undisclosed price. Chris Caudill of NAI Partners represented the seller, while Barrett Gibson and Jeff Peltier of Colliers International represented the buyer in the deal.
NEW YORK CITY — Cushman & Wakefield has arranged the sale of a mixed-use multifamily asset located at 59 Thompson Street in Manhattan’s SoHo neighborhood. Veracity Equities acquired the property from Whistlepig Associates for $21.5 million, or approximately $1,315 per square foot. The six-story, 15,918-square-foot building comprises two ground-floor commercial units and 34 residential apartments. Of the residential units, 27 are free market and seven are subject to rent stabilization. Robert Burton and Keegan Mehlhorn of Cushman & Wakefield brokered the all-cash transaction.
CHERRY HILL, N.J. — NAI Mertz has arranged two office leases at the 102,591-square-foot Two Executive Campus in Cherry Hill totaling 29,050 square feet. In the first deal, Newspaper Media Group signed a lease for 15,127 square feet of space. The company recently acquired Greater Media Newspapers. In the second transaction, an undisclosed tenant leased 12,923 square feet at the building. Rebecca Ting and Julie Kronfeld of NAI Mertz represented the ownership, 1930 NMT Owner LLC, in the transactions.
HOUSTON — NorthMarq Capital has arranged refinancing for Northville Plaza, a retail property located in Houston. Mattress One, Tile Max and Allstate occupy the 14,400-square-foot property. Warren Hitchcock of NorthMarq Capital’s Houston office arranged the non-recourse, 15-year fixed-rate loan on behalf of the undisclosed borrower.
NEWTON LOWER FALLS, MASS. — Margulies Perruzzi Architects (MPA) has completed the design and renovation of the headquarters for National Development in Newton Lower Falls. National Development and its construction affiliate, Cranshaw Construction, currently occupy all four floors of 2310 Washington St. MPA provided space planning and interior design services for the 40,000-square-foot property. The project included updating the office design and relocating amenities to create an open, modern and collaborative space for staff. Cranshaw Construction served as construction manager for the project.
LITTLE ELM, TEXAS — Marcus & Millichap has arranged the sale of Lake Shore Crossing, a retail property located in Little Elm. A developer sold the 16,500-square-foot property to a private investor for an undisclosed sum. At the time of sale, the property was fully occupied to a variety of tenants on triple-net leases. Bill Jordan of Marcus & Millichap represented the seller and secured the buyer in the deal.
AUSTIN, TEXAS — Equitable Commercial Realty (ECR) has facilitated four office and retail leases in Austin. In the first transaction, Herbert J. Sims & Co. leased 966 square feet of office space at 815 Brazos. Patrick Ley and Rebecca Zigterman of ECR represented the undisclosed landlord, while Jon Wheless of Aquila Commercial represented the tenant. In the second deal, Timeless Interiors Inc. leased 9,683 of office square feet at 1110 S RR 620. Ley and Haley Smith of ECR represented the undisclosed landlord. In the third transaction, Berserk Games leased 775 square feet of retail space at 800 Brazos from an undisclosed landlord. Jason Steinberg and Matt Levin of ECR represented the landlord, while Steve Gillespie of Texas Office Advisors represented the tenant. In the final deal, Buildfax leased 3,414 square feet of office space at the Heierman Building, located at 115 E. 5th St. Steinberg and Haley Berry Smith of ECR represented the undisclosed landlord, while Gaines Bagby of CBRE represented the tenant.
BRANFORD, CONN. — O,R&L Commercial has completed a long-term lease for 8,000 square feet of R&D and flex space, located at 4 Pin Oak Drive in Branford. Saphlux LLC will expand its research and development operations in the newly constructed facility. Rich Lee of O,R&L Commercial represented the landlord, Plato Associates, while Rich Guralnick, also of O,R&L Commercial, represented the tenant in the lease.
DENVER — Oak Coast Properties has acquired Pembrooke on the Green Apartments, a 959-unit multifamily community located in Denver, for $129 million. The 37-building property is located at 10700 E. Dartmouth Ave., close to the Denver Technological Center, downtown Denver, Fitzsimons Life Science District and Denver International Airport. The community was 95 percent occupied at the time of sale, and offers a mix of studio, one- and two-bedroom units with fireplaces, frost-free refrigerators and walk-in closets. Shared amenities at the complex include a barbecue and picnic area, a business center, carports, two clubhouses, community kitchen, dog park, fitness center, two heated swimming pools, sauna, laundry rooms, playground, soccer field, splash park and walking path. The company has set aside $1.9 million for capital improvements, which will include upgrades to landscaping and outdoor furniture; concrete and stair repairs; roof and gutter repairs; steel fixes; exterior upgrades to the leasing office, pools, clubhouses and laundry rooms; and mechanical work including electrical and plumbing. Renovations are scheduled to begin immediately. Charles Halladay, Lee Redmond and Brock Yaffe of HFF’s debt placement team assisted in securing a $103 million Freddie Mac loan for the acquisition of the property. Miami-based Pensam Residential provided a portion of the …
PHILADELPHIA — An affiliate of Coretrust Capital Partners has acquired controlling interests in Two Liberty Place, an office and residential tower located in Philadelphia’s Center City, for an undisclosed price. Coretrust Capital Partners will own the 940,000-square-foot office portion, floors one to 37, of the property. The 57-story tower features 1.2 million square feet of office and residential condominium space. The office space is currently 89 percent leased to Cigna, Buchanan Ingersoll & Rooney and Eckert Seamans. Robert Fahey, Jerry Kranzel and Erin Hannan of CBRE Capital Markets represented the undisclosed selling partnership in the deal.