DALLAS — Lee & Associates has negotiated the sale of a 6,498-square-foot freezer/cooler warehouse located at 210 Oregon Ave. in Dallas. Matthew Thompson and Phil Rosenfeld of Lee & Associates’ Dallas/Fort Worth office represented the seller, Wang Globalnet. Charlie Perdue of Perdue Equities Co. represented the buyer, JC Goodman Investment Group.
DALLAS — Paul Vernon has been hired as executive vice president and head of Henry S. Miller Brokerage’s retail division. Vernon will oversee the retail division’s brokerage services, including landlord and tenant representation, retail and land development and property disposition, as well as income properties and land sales. Vernon brings over 30 years of commercial real estate experience to the Miller team. He started his career with Evans, Birmingham, Williamson, which later became Cornerstone Commercial Real Estate. Most recently, Vernon was executive vice president at John T. Evans Co. and director of retail development at Crest Commercial Real Estate. He began his career in project leasing and pad site sales, then transitioned to tenant representation, later adding property disposition, income sales and retail development to his responsibilities.
NEW YORK CITY — Multi-Employer Property Trust (MEPT), advised by Bentall Kennedy Limited Partnership, and Cove Property Group have acquired Two Rector Street, a 26-story office property located in Manhattan’s financial district. CIM Group and Kushner Companies sold the 476,000-square-foot property for an undisclosed price. The buyers plan to renovate and reposition the building as a Class A office property. Once renovated, the building is expected to cater to technology, advertising, media and information tenants as well as traditional finance, insurance and real estate tenants.
NEW YORK CITY — Tavros Development Partners, in partnership with Charney Construction & Development and 1 Oak Development, has acquired a development site located at 263-277 S. Fifth St. in Brooklyn’s Williamsburg neighborhood. The Dime Savings Bank of Williamsburgh sold the property for $80 million. The development offering consists of a combined four properties (263-277 S. 5th St., 262-272 S. 4th St. and 205 Havemeyer St.) and allows for a buildable envelope of approximately 230,000 square feet. The property’s zoning designation permits both mixed-use and commercial development. James Nelson, Brendan Maddigan and Matt Nickerson of Cushman & Wakefield represented the seller in the transaction.
NEWTON, MASS. — A joint venture between Angelo Gordon & Co. and Jumbo Capital Management has acquired two office buildings, located at 7-57 and 75-85-95 Wells Ave. in Newton, a suburb eight miles west of Boston, for $62.3 million. The properties total 332,194 square feet. Coleman Benedict and Ben Sayles of HFF represented the undisclosed seller and buyer in the sale. Additionally, HFF worked on behalf of the new owner to secure a five-year, fixed-rate first mortgage financing for $47.1 million, which included funds for the acquisition and a facility for future tenanting and capital costs. Lauren O’Neil and Brett Paulsrud of HFF arranged the financing for the borrower, while Mike Terry and Jonpaul Sallese, also of HFF, represented East Boston Savings Bank in the mortgage transaction.
ROCKLEIGH, N.J. — CBRE Group Inc. has arranged the sale of an office/life science building located at 8 King Road in Rockleigh. Marcus Partners, on behalf of its Marcus Capital Partners Fund I sold the property to Charter Realty Group for an undisclosed sum in a 1031 exchange. The 204,495-square-foot building is 100 percent net leased to Spectra Laboratories on a long-term basis and guaranteed by its parent company, Fresenius Medical Care Holdings Inc. The facility serves as Spectra’s mission critical testing facility for the eastern half of the United States. Jeffrey Dunne, Kevin Welsh, Brian Schulz, Lee Asher and Chris Bodnar of CBRE represented the seller and procured the buyer in the transaction.
HOBOKEN, N.J. — Jet.com has agreed to expand its headquarters at Waterfront Corporate Center III in Hoboken. The e-commerce startup will commence its build out of the space that will double the size of its corporate office by an additional 40,000 square feet for a total of 80,000 square feet. SJP Properties in partnership with USAA Real Estate Co. developed the three-building, 1.5 million-square-foot mixed-use development. Launched in 2015, Jet.com is an e-commerce venture led by Marc Lore, former CEO and co-founder of Diapers.com and parent company Quidsi. Scott Peck and Brian Wilson of Resource Realty represented Jet.com, while Peter Bronsnick provided in-house representation for the landlord, SJP Properties, in the transaction.
FERGUSON, MO. — Love Funding has closed a $15.3 million loan for the refinancing of Christian Care Home, an assisted living and skilled nursing senior community in the St. Louis suburb of Ferguson. Christian Care Home offers 178 beds in 92 units and is one of only two nursing homes in the area that provides on-site dialysis services to its residents. Christian Woman’s Benevolent Association owns the facility. Robyn Cunningham and Adrian Hartman of Love Funding’s St. Louis office secured the financing through HUD. This is the second time in less than three years that Love Funding has refinanced the property’s debt. Love originally financed the construction of the facility under HUD’s Section 232 program in June 2009.
ATHENS, OHIO — Construction is currently underway on River Gate, a 232-bed student housing property located near the Ohio University campus in Athens, located in the southeastern part of the state. The complex, developed by Columbus Pacific Properties and Homestead U, will offer fully furnished two-, three- and four-bedroom apartments. Community amenities include a resident life center featuring a bistro with gourmet coffee and a cyber lounge, a resort-style pool, private study rooms, a 24-hour fitness center, gaming room and an underground parking garage.
RACINE, WIS. — Mid-America Real Estate Corp.’s investment sales team has arranged the sale of Regency Point Shopping Center, a 163,252-square-foot retail center located in Racine, approximately 30 miles south of Milwaukee. Bed Bath & Beyond, DSW, Hobby Lobby and T.J. Maxx anchor the center. Rick Drogosz, Ben Wineman and Dan Rosenfeld of Mid-America represented the seller, The Redmond Co., in the sale of the property to Bonnie Management Corp. for an undisclosed price.