SAN FRANCISCO — SRS Real Estate Partners has secured a ground lease on a 58,040-square-foot property located at 1501 Harrison St. in San Francisco’s South of Market district. The tenant plans to construct a new BMW Service center on the site. Matt Alexander and Andrew Lindsey of SRS Real Estate Partners, along with Chris Hamey of HC&M Commercial Properties, brokered the transaction. The names of the tenant and landlord were not released.
PHOENIX — NorthMarq Capital has arranged $5.2 million in acquisition financing for Ahwatukee 48, an 87,772 –square-foot office/warehouse property in Phoenix. The space is located at 15905-15915 S. 46th St. and 15920-15930 S. 48th St. The transaction was structured with a 20-year term and 25-year amortization schedule. Shari Stults of NorthMarq arranged the financing through its correspondent relationship with Ohio National. Keller Williams Desert Foothills Realty and Synaptics Inc. are the property’s major tenants.
FLORHAM PARK, N.J. — The Rockefeller Group has secured $70 million in financing on behalf of its joint venture partnership with Korman Communities for the construction of AVE Florham Park. Located within The Green at Florham Park in Florham Park, the flexible-stay community will feature 256 furnished and unfurnished accommodations that are ideal for corporate housing, relocations and long-term stays. The partnership broke ground on the 450,000-square-foot project earlier this year with completion slated for 2017. The property will feature 40,000 square feet of outdoor amenities, including a private courtyard with sitting areas and chess stations, and a community courtyard with a lap pool and sundeck, a ping pong table, bocce ball court, a kitchen with barbecue area, a movie screen, fire pits and an enclave with cabanas. Additionally, the property will feature 24,000 square feet of indoor amenities, including a movie theater, café, conference suites, a business center, a yoga studio and fitness center, a spa and 24-hour resident services.
WHITE PLAINS, N.Y. — Rand Commercial has arranged the sale of an office building located at 10 County Center in White Plains. Ascot Properties NYC sold the 208,000-square-foot building to Bajraktari Realty Management Corp. for $9.2 million. Paul Adler, Ann Silver and Nick Spano of Rand Commercial represented the seller and buyer in the deal.
FRESNO AND MADERA, CALIF. — Retail California has arranged three leases totaling 39,144 square feet of retail space in Fresno and Madera. In the first deal, Lumber Liquidators Inc. leased 8,144 square feet of retail space at 5091 N. Fresno St. in Fresno from 5561 Sultana LLC. Nick Frechou and Mike Arfsten of Retail California worked with Doug Cords and Shane Anderson of Commercial Retail Associates to arrange the transaction. In the second transaction, Dollar Tree leased 10,000 square feet of retail space at 333 W. Olive Ave. within Bethard Square Center in Madera from First Priority Funding. Arfsten along with Cords and Anderson brokered the deal. In the final deal, PF Madera LLC leased 21,000 square feet of retail space at 313 W. Olive Ave. within Bethard Square Center in Madera from First Priority Funding. Arfsten and Anderson arranged the transaction.
PEABODY, MASS. — Fantini & Gorga has arranged $7.5 million in permanent financing for two office buildings located at 100 and 200 Corporate Place in Peabody. Derek Coulombe and Jason Cunnane of Fantini & Gorga secured the financing for the undisclosed borrower through a regional bank. Built in 1984, the five-story building at 100 Corporate Place features 46,000 square feet, and the 48,000-square-foot building at 200 Corporate Place was built in 1983.
HOUSTON — A year after first announcing long-term plans for the redevelopment of the former ExxonMobil Chemical headquarters campus in Houston, Third Palm Capital is repurposing existing buildings on the 35-acre energy corridor site. The planned mixed-use district is located at 13501 Katy Freeway and is being renamed Republic Square. Houston-based Boxer Property has been awarded the leasing and management assignment. Preparations are underway to open Republic Square’s grounds with a central lake. Existing amenities include The Event Center at Republic Square, a 20,000-square-foot event and conference facility, plus Republic Square I, a three-story, 320,000-square-foot office building. Improvements include increasing visibility and accessibility off I-10 and Memorial Drive, adding a surface parking lot along Memorial and landscaping.
OKLAHOMA CITY — CBRE’s U.S. Healthcare capital markets group has brokered the sale of a 62,857-square-foot medical facility in Oklahoma City fully leased to Lakeside Women’s Hospital. Tampa-based Carter Validus Properties II LLC purchased the asset from Physicians of Northwest Oklahoma Investment Group LLC for an undisclosed price. Jason Little of CBRE’s Oklahoma City office teamed with Chris Bodnar and Lee Asher of CBRE’s U.S. Healthcare capital markets group to market the asset on behalf of the seller. Situated on five acres, the inpatient medical facility is located at 11200 N. Portland Ave.
EL PASO, TEXAS — Commercial real estate investment banking firm George Smith Partners has arranged a $10.6 million loan for the acquisition of The Preserve at Mesa Hills, a 100 percent occupied, 248-unit apartment community in El Paso. David Rifkind and Ameet Chagan of George Smith Partners arranged the interest-only loan through a CMBS lender on behalf of the borrower, a private investor, . Located in El Paso’s northwest submarket, The Preserve at Mesa Hills comprises nine two-story and five three-story buildings offering one- and two-bedroom apartments. Units feature mountain and valley views, private patios or balconies and GE appliances, while select units also feature vaulted ceilings and wood-burning fireplaces. Common area amenities in the gated community include landscaped courtyards, a pool with spa and sundeck, fitness center, basketball and volleyball courts, as well as barbecue grills and picnic areas for residents.
KATY, TEXAS — Vigavi West Ten has broken ground on a 22,500-square-foot speculative industrial building at West Ten Industrial Park in Katy, a suburb of Houston. The industrial park offers land sites for sale or build-to-suit opportunities, as well as industrial buildings for sale or lease. At completion, West Ten Industrial Park can accommodate 350,000 square feet on 35 acres. In 2015, Parkside Capital partnered with Vigavi Realty to purchase the land within West Ten Business Park for the new facility. Located at 633 Choctaw Lane, the first building underway at West Ten Industrial Park is scheduled to deliver in November 2016. John Simons and Holden Rushing of NAI Partners are marketing the park.