Property Type

Hotel-ZaZa-Memorial-City-Houston-MetroNational[3]

MetroNational to Break Ground on Hotel Zaza Memorial City in Houston

by Haisten Willis October 5, 2015

HOUSTON — MetroNational, a Houston-based real estate investment, development and management company, has partnered with Z Resorts to construct Hotel ZaZa Memorial City at the intersection of I-10 and Bunker Hill Road in Houston. Hotel ZaZa Memorial City is the brand’s second Houston location. Kirksey Architecture will oversee the design and Anslow Bryant Construction is the general contractor of the property, which is slated to open in summer 2017. Hotel ZaZa Memorial City will include 159 guest rooms, along with 10,000 square feet of event and meeting spaces. Amenities will include a pool with bar and cabanas, a restaurant and lounge. MetroNational and Z Resorts are dedicating four levels of the 17-story hotel to 130 apartment units, with guests having access to all ZaZa amenities. Hotel ZaZa Memorial City will be located at 9787 Katy Freeway and will be the third property opening for the brand in 2017, joining Hotel ZaZa Austin in downtown Austin and Hotel ZaZa Wade Park in the north Dallas suburb of Frisco.

October 5, 2015

SL Green Sells $115M Stake in NYC Office Asset

by Amy Works October 5, 2015

NEW YORK CITY — SL Green Realty Corp. has sold its interest in a commercial office condominium located at 315 W. 36th St. in New York City. Walter & Samuels Inc. acquired the 35.5 percent stake for a gross asset valuation of $115 million, or $779 per square foot. The 17-story property features 14 loft condominiums across the upper seven floors and 132,945 square feet of office space across the lower nine levels. Designed by George and Andrew Blum in 1925, the building is listed in the National Architectural Trust. SL Green acquired its interest in the property in late 2012 at a gross asset valuation of $45 million. Woody Heller of Savills Studley advised SL Green in the transaction.

October 5, 2015

Multifamily New Jersey Northeast

763-Unit Residential Tower Tops Outs on Jersey City Waterfront

by Amy Works October 5, 2015

JERSEY CITY, N.J. — Mack-Cali Realty Corp. and Ironstate Development Co. have topped out Urban Ready Life (URL) Harborside 1, a multifamily tower on the Jersey City waterfront. With views of the Manhattan skyline, the 69-story, 763-unit tower, which reaches 713 feet, is the tallest residential building in New Jersey. The tower is the first of three phases of a $330 million development, which will bring 2,358 residences to Jersey City upon completion. The first phase is expected to open for leasing in the fourth quarter of 2016. Dutch-based architectural firm Concrete is providing architectural services for the project.

October 5, 2015

Multifamily New Jersey Northeast

Woodmont Properties Breaks Ground on Transit-Oriented Apartment Community

by Amy Works October 5, 2015

METUCHEN, N.J. — Woodmont Properties has broken ground for Woodmont Metro at Metuchen Station, a transit-oriented apartment community located in downtown Metuchen. The 273-unit property will feature an open piazza, 11,500 square feet of retail space and a six-level parking deck with 750 parking spaces. The first phase of construction will consist of the parking deck, which will be built and managed by Nexus Properties.

October 5, 2015

Office Texas

Construction to Begin on New Capital One Office Building in Metro Dallas

by Haisten Willis October 5, 2015

PLANO, TEXAS — Capital One will begin construction this week on a new office building expected to house between 1,000 and 1,200 employees. The new building is an expansion of Capital One’s corporate campus located at 8058 Dominion Parkway in Plano, and will be the seventh office building on the campus. The four-story building will include six training rooms, a cafeteria, collaboration spaces and a game room. The Capital One Plano campus is located on 75 acres, with six current office buildings, three parking garages and a multi-purpose conference center. The combined space covers 1.3 million square feet and houses 5,900 employees. Construction of the new building is scheduled to be complete in the first quarter of 2017.

October 5, 2015

Loans Mixed-Use Multifamily New York Northeast Retail

Meridian Capital Arranges $4M in Financing for Mixed-Use Property in Hell’s Kitchen

by Amy Works October 5, 2015

NEW YORK CITY — Meridian Capital Group has arranged $4 million in financing for a mixed-use property in the Hell’s Kitchen neighborhood of Manhattan. Provided by JPMorgan Chase, the seven-year loan features a fixed-rate of 3.8 percent. Located at 755 Ninth Ave., the five-story property features 20 apartments and 2,000 square feet of retail space. Brian Flax and Blake Orman of Meridian’s New York City headquarters office negotiated the financing for the undisclosed borrower.

October 5, 2015

Multifamily New York Northeast

Thor Equities Acquires 43,000 SF Apartment Building in Manhattan

by Amy Works October 5, 2015

NEW YORK CITY — Thor Equities has purchased a 43,000-square-foot apartment building located at 526 W. 111th St. in Manhattan’s Morningside Heights neighborhood. Situated between Broadway and Amsterdam Avenue, the six-story property features 45 residential rental units. The purchase price and name of the seller were not disclosed. Aaron Jungreis of Rosewood Realty brokered the $30 million transaction.

October 5, 2015

Office Texas

Q10 KDH Leases Office Space in Houston

by Haisten Willis October 5, 2015

HOUSTON — Q10 | Kinghorn, Driver, Hough & Co. has leased 8,992 square feet at the 2000 West Loop South building in Houston. Bob Cromwell and Kevin Nolan of Moody Rambin represented the building owner, SRI Nine 2000 WL LP, in the lease transaction. John Parsley and Jay Kyle with Colliers International represented the tenant in negotiations.

October 5, 2015

Hospitality Texas

NewcrestImage to Repurpose Mercantile Commerce Building in Dallas into Hotel Space

by Haisten Willis October 5, 2015

DALLAS — After sitting vacant for 25 years, the 22-story Mercantile Commerce building located at 1712 Commerce St. in downtown Dallas, along with the neighboring building 1700 Commerce, are being redeveloped into three new downtown hotels with more than 425 rooms. NewcrestImage is the developer for the project. Phill Geheb of Munsch Hardt arranged financing for the redevelopment project. Construction is slated to begin next week for the hotels, whose brands include Residence Inn and Dallas’ first AC Marriot Hotel. The project received three forms of funding. The financing includes a $35.6 million construction loan, $7.8 million in federal tax credit equity and $8 million in state historic tax credit equity.

October 5, 2015

Industrial Texas

NAI Partners Represents Jones McClure Publishing in 6,195 SF Industrial Lease

by Haisten Willis October 5, 2015

HOUSTON — NAI Partners represented Jones McClure Publishing in leasing 6,195 square feet of warehouse space located at 9364 Wallisville Road in Houston. Jones McClure Publishing is the publisher and distributer of O’Connor’s Texas Law Books. Jake Wilkinson of NAI Partners represented the tenant during the lease negotiations, while Holt Lunsford represented the landlord, MacArthur 4500.

October 5, 2015

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