Property Type

The Meyers Group to Lead $50M Renovation of Historic Hotel Paso del Norte in El Paso

by Amy Works January 6, 2017

EL PASO, TEXAS — The Meyers Group has selected Kobi Karp Architecture and Interior Design for the $50 million renovation of the historic Hotel Paso del Norte, which is currently named Camino Real. Located at 101 S. El Paso St. in downtown El Paso, the 356-room hotel was originally built in 1912. Renovations are slated to begin in March and include upgrades to all rooms, as well as the second-floor grand ballroom and conference rooms. El Paso-based in’situ Architecture is also collaborating on the project. Renovations are scheduled for completion in 2018.

January 6, 2017

Marcus & Millichap Brokers Sale of 20,000 SF Industrial Park in Converse, Texas

by Amy Works January 6, 2017

CONVERSE, TEXAS — Marcus & Millichap has arranged the sale of Converse Business Park, an industrial property located at 9314-9318 Converse Business Lane in Converse. The park features 20,000 square feet of industrial space. The facility has performed at a near zero vacancy rate since its construction in 2006. Joshua Murphy of Marcus & Millichap represented the seller, a private investor, in the deal. The name of the buyer and acquisition price were not released.

January 6, 2017

Restaurant Retail Texas

Baker Katz Arranges Two Leases for Snooze Eatery in Houston

by Amy Works January 6, 2017

HOUSTON — Baker Katz has completed two leases for Snooze, an A.M Eatery, at Town & Country Village and Houston Heights Lowell Street Market in Houston. A 3,185-square-foot eatery is slated to open this summer at Town & Country Village, and a 3,785-square-foot second location is scheduled to open in late summer at Houston Heights Lowell Street Market. Since opening its first restaurant in 2006, the Denver-based eatery has grown to 17 locations across Arizona, California, Colorado and Texas. Snooze delivers a menu creative twists on breakfast dishes, as well as a selection of local craft beers and morning cocktails.

January 6, 2017

Retail Texas

Colliers International Brokers Sale of 1.8-Acre Land Parcel in Metro Houston

by Amy Works January 6, 2017

PASADENA, TEXAS — Colliers International has arranged the sale of a 1.8-acre land parcel located at the southwest corner of Sam Houston Parkway East and Spencer Highway in Pasadena. Frost Bank acquired the site for an undisclosed price and plans to develop a bank branch on the property. Marshall Clinkscales of Colliers represented the seller, Latour Partners, while Scott Gardner of UCR Houston Retail represented the buyer in the deal.

January 6, 2017

Office Texas

Bradford Commercial Real Estate Negotiates Two Office Leases in Metro Dallas Totaling 15,595 SF

by Amy Works January 6, 2017

DALLAS AND IRVING, TEXAS — Bradford Commercial Real Estate Services has brokered two leases totaling 15,595 square feet of office space in the Dallas metro area. In the first lease, Kingdom Resources LLC, a provider of oil and gas services, leased 8,791 square feet of office space at Freeport Corporate Center, located at 8650 Freeport Parkway South in Irving, from Slate Freeport Holdings. Kevin Brookmole of Bradford Commercial represented the tenant, while Geoff Shelton and Marshall mays of Holt Lunsford Commercial represented the landlord. In the second lease, Keaton Interiors Inc., an interior design and architecture firm, leased 6,804 square feet of office and showroom space at 4444 Spring Valley Road in Dallas from SV Associates Partnership. Susan Singer and Brian Pafford of Bradford Commercial represented the landlord, while Cole Horowitz of NAI Robert Lynn represented the tenant.

January 6, 2017

Loans New York Northeast Office Retail

RM Capital Arranges $57.5M in Construction Financing for Redevelopment of Tammany Hall in NYC

by Amy Works January 6, 2017

NEW YORK CITY — RM Capital has arranged $57.5 million in first mortgage and mezzanine construction financing for the redevelopment of the Tammany Hall building at 44 Union Square in New York City. The borrower, Reading International, will use the financing to renovate and repurpose the six-story 73,322-square-foot retail and office building. Upon completion, the building will feature three contiguous lower levels of retail space and three floors of office space. The historic property is the former headquarters for the Tammany Hall political organization and required a variance and Landmarks Commission to move forward with the redevelopment. Tammany Hall was a New York City political organization founded in 1786 and planned a major role in controlling city and state politics and helping immigrants rise up in American politics. Bank of the Ozarks provided the $50 million senior construction loan, and an affiliate of Fisher Brothers provided the $7.5 million mezzanine loan. Marc Sznajderman, Romano Tio and Bo Diamond of RM Capital secured the financing for the borrower.

January 6, 2017

New Jersey Northeast Office

Alexander Property Holdings Acquires 135,000 SF Office Building in New Jersey for $20M

by Amy Works January 6, 2017

LYNDHURST, N.J. — Alexander Property Holdings has acquired CityView Corporate Center, an office building located at 160 Chubb Ave. in Lyndhurst. Rugby Realty Co. sold the 135,000-square-foot property for $20 million. Situated on 8 acres, the property was constructed in 1979 and renovated in 2006 and 2012. Gary Gabriel, Andrew Merin, David Bernhaut, Brian Whitmer, Ryan Larkin and Curtis Foster of Cushman & Wakefield brokered the transaction.

January 6, 2017

Loans Multifamily Northeast Pennsylvania Student Housing

Colliers Secures $12M Loan for 276-Bed Student Housing Complex Near Penn State

by Amy Works January 6, 2017

STATE COLLEGE, PA. — Colliers International has arranged $12 million in financing for the acquisition and completion of Blue Course Commons, a 276-bed student housing complex in State College. John Banas and Kris Wood of Colliers Philadelphia Capital Markets arranged a three-year, fixed-rate loan with a two-year interest-only payment period for the undisclosed borrower.

January 6, 2017

New Jersey Northeast Retail

The Blau & Berg Co. Arranges Sale of 54,126 SF Retail Property in Newark, New Jersey

by Amy Works January 6, 2017

NEWARK, N.J. — The Blau & Berg Co. has brokered the sale of a retail property located at 237-249 S. Orange Ave. in Newark. JJ Operating Inc., a family-owned real estate investment and management company, acquired the 54,126-square-foot property for an undisclosed price. The free-standing building is currently occupied by a 2,100-square-foot Dunkin’ Donuts. The buyer plans to redevelop the property. Alex Conte, Jason Crimmins and Peter Murano of The Blau & Berg Co. represented the seller and buyer in the deal.

January 6, 2017

Connecticut Industrial Northeast Office Retail

O,R&L Commercial Negotiates $2.1M Sale of Two Properties in Cromwell, Connecticut

by Amy Works January 6, 2017

CROMWELL, CONN. — O,R&L Commercial has arranged the sale of a two-property investment asset totaling 38,800 square feet at 50 Sebethe Drive in Cromwell. O&G Industries acquired the properties for $2.1 million. The sale includes a net-leased 28,800-square-foot warehouse and office building and an on-site 10,000-square-foot self-storage facility. Frank Hird and Luke Massirio of O,R&L Commercial represented the seller, Sebethe Drive Partners LLC, in the deal.

January 6, 2017

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