AGAWAM, MASS. — OMG Inc., a commercial roof fastening product manufacturing and supply company, has leased 86,031 square feet of warehouse and office space at 101 Almgren Drive in Agawam. Situated on 14.6 acres, the 187,900-square-foot industrial facility is owned by California-based Four Cities Partner LTD and master leased, as well as substantially occupied by Seattle-based Vaupell Holdings Inc. Sentry Commercial, in association with Hart Corp., represented Vaupell in the transaction.
LOS ANGELES — NorthMarq Capital has arranged a $48 million refinancing for Olympic Plaza, a 244,448-square-foot office property in Los Angeles. The property is located at 11500 West Olympic Blvd. The loan features a 10-year term and 25-year amortization schedule. Blake Melstrom of NorthMarq Capital’s Los Angeles office arranged the financing through a life insurance company.
NORTHRIDGE, CALIF. — FSC Realty has purchased The Village at Granada Hills, a 152-unit luxury apartment community in the San Fernando Valley submarket of Northridge, for $34.1 million. The community is located at 10435 Lindley Ave. The property was built in 1970 and renovated in 2008. The seller was Starpoint Properties. Darin Beebower and Bob Safai of Madison Partners brokered the transaction.
RICHMOND, CALIF. — The Pacific Cos. has opened the doors on Harbour View Apartments, a 61-unit affordable seniors housing community in Richmond, just north of Oakland along San Francisco Bay. The four-story property features 50 one-bedroom units and 12 two-bedroom units. It cost $17 million to develop. Financing for the project came from low-income housing tax credits, a forward interest rate swap, and $13 million in tax-exempt bonds. The bonds were issued in two series with Mechanics Bank directly purchasing $9 million of the senior series and a private investor purchasing $4 million of the junior series. Wells Fargo Affordable Housing Community Development Corporation committed to purchasing the LIHTCs. The Pacific Cos. is an Idaho-based developer of multifamily communities. Mechanics Bank is a California-based lender.
EL MONTE, CALIF. — Vibe Base has signed a five-year lease renewal for its 60,000-square-foot facility in the San Gabriel Valley submarket of El Monte. The lease is valued at $2 million. The space is located at 9328 Telstar Ave. Barry Saywitz of the Saywitz Company represented the international designer, manufacturer and importer of clothing product. Mickey Isen of Kennedy Wilson Properties represented the landlord, KW Telstar, in this transaction.
CHANDLER, ARIZ. — CSW Land Co Riggs has purchased a 25,234-square-foot office and warehouse property in Chandler for $3.1 million. The asset is located at 11237 E. Riggs Road. It was formerly home to telecommunications contractor Stewart Electric & Communications. CSW Contractors plans to relocate to the space. CBRE’s John Werstler represented the buyer. Gail Brown of GPE represented Stewart Electric.
AUSTIN, TEXAS — The Kor Group has purchased land for the future home of Austin Proper Hotel and Residences. The development will be a 32-story mixed-use building containing 99 for-sale residences, 244 hotel guest rooms, four food and beverage outlets, 11,500 square feet of meeting space, a spa, fitness center and two outdoor swimming pools. Construction is scheduled to begin in spring 2016 and end in early 2018. In addition to the land acquisition, the Austin Proper Residences sales gallery, located nearby at 208 Colorado St., debuted on Jan. 21, 2016, with a grand opening celebration scheduled for Feb. 5 and 6. Will Steakley of DEN Property Group will manage sales for the Austin Proper Residences, which will begin taking contracts this month. Proper Hospitality will operate the Austin Proper Hotel as part of the Proper Hotels brand. Designer Kelly Wearstler is creating the interior design for the project, McGuire Moorman Hospitality is developing and operating the food and beverage concepts and Handel Architects is responsible for the design of the 32-story high-rise.
STAFFORD, TEXAS — Dallas-based StreetLevel Investments and joint venture partner Provident Realty Advisors have purchased 192 acres in Stafford, including the former Texas Instruments (TI) campus. The firms plan to create a mixed-use development at the site that will feature 350,000 square feet of destination retail space, 2,400 residential units, Class A office space, two hotels, a health club, entertainment and green space in a walkable urban center. The finished product will include parking garages as well as street parking. Portions of the original TI buildings will be preserved and repurposed. Houston-based Gensler and TBG are project consultants. The first phase of the $500 million, multi-phase project is slated to open summer 2017.
FORT WORTH, TEXAS — Hunt Southwest Real Estate Development has acquired a 16.7-acre site in the Riverbend West Business Park in northeast Fort Worth and will develop a 301,500-square-foot spec warehouse and distribution facility at the site. Construction on Riverbend West Distribution Center, located at 2101 Reeves Place, will commence immediately with completion expected in the third quarter of 2016. The facility will feature 32-foot clear heights, cross-dock configuration, an ESFR sprinkler system and dedicated trailer parking positions. Holt Lunsford Commercial’s Donnie Rohde, Chance Olin and George Jennings will lease the industrial property to prospective tenants.
IRVING, TEXAS — Transwestern has represented MultiView Inc. in a 109,610-square-foot lease renewal for the digital marketing company’s corporate headquarters at One Panorama Center, located at 7701 Las Colinas Ridge in Irving. Transwestern’s John Fulton represented MultiView in the transaction, while Duane Henley and Nathan Durham, also of Transwestern, represented the building owner, Regent Properties. One Panorama Center is an eight-story, Class A office tower. The property is 10 minutes from Dallas/Fort Worth International Airport and near MacArthur Boulevard. Regent acquired the property in October 2014 and has implemented interior and exterior improvements since the purchase.
