NEW YORK CITY — Strathspey Crown Holdings LLC has signed a 10-year lease to quadruple its space at 570 Lexington Avenue in New York City. The Newport Beach, Calif.-based firm will now occupy 16,000 square feet of office space at the landmark Art Deco building. Comprising the 27th, 28th and 35th floors, the new space will feature high-end finishes and an architecturally distinctive stairwell between the 27th and 28th floors. David Turino provided in-house representation for the property owner and manager, The Feil Organization, while Strathspey was represented in-house for the transaction.
AVON, COLO. — Greystone has provided a $36 million CMBS loan for Chapel Square and Benchmark Shopping Center, two adjoining mixed-use properties comprising 200,000-square feet of retail and office space in the resort community of Avon. The property, located at the base of Beaver Creek ski resort, is currently 99.7 percent leased to 44 tenants. Ted Nasca of Greystone originated the 10-year loan with interest-only payments for the first three years and a 30-year amortization schedule.
ASHLAND, ORE. — An undisclosed buyer has purchased Skylark Assisted Living, a 75-unit assisted living and 34-bed memory care facility in Ashland, for $10.8 million. Skylark Assisted Living, located within the Mountain Meadows age-restricted community, opened in 1997. Skylark was 90 percent occupied at the time of the sale. Dan Mahoney and Tony Cassie, directors of Marcus & Millichap’s National Seniors Housing Group in Portland, represented the sellers and procured the buyer in this transaction.
CLEARFIELD, UTAH — RED Mortgage Capital, the proprietary mortgage banking arm of RED Capital Group LLC, has closed an $11.1M Fannie Mae loan for MBK Senior Living to refinance Chancellor Gardens of Clearfield, an assisted living and memory care community in Clearfield about 25 miles north of Salt Lake City. Chancellor Gardens is a 130-unit community constructed in 1999 and expanded in 2009. Founded in 1986, MBK owns and operates 13 communities across California, Utah, Arizona, Colorado and Washington.
CONCORD, CALIF. — Carlton Senior Living, an operator of 11 seniors housing communities in Northern California, has named industry veteran David Coluzzi as its new president. The company is based in Concord, located between San Francisco and Sacramento, and is looking to expand its portfolio of independent living, assisted living and memory care properties. Serving the industry for over 26 years, Coluzzi most recently was CEO of Esquire Group, a senior living and apartment company with 1,200 units in seven communities in New Jersey. Coluzzi was formerly vice president of operations at Classic Residence by Hyatt (now known as Vi). He directed the management of a portfolio consisting of 10 luxury continuing care retirement communities (CCRCs) while leading the start-up of two new communities and an expansion that resulted in more than 4,000 independent living, assisted living, memory care and skilled nursing units in California, Arizona, Colorado, Illinois, South Carolina and Florida. Coluzzi served in the United States Air Force and holds a Bachelor of Science degree in health care administration from the University of Arizona in Tucson.
RANCHO CUCAMONGA, CALIF. — Progressive Real Estate Partners has inked a new Dollar Tree lease in Rancho Cucamonga. The discount store has leased 8,700 square feet at 11398 Kenyon Way. The store will join Alberstons and CVS in early 2016 at the freeway-adjacent Vineyards Marketplace. Janine Peltier of Progressive Real Estate Partners represented the lessor in this transaction.
MILWAUKEE — Irgens’ 833 East, an 18-story office building in Milwaukee scheduled to open in March 2016, is adding new tenants. Major League Baseball and Commissioner Emeritus Allan H. Selig, Heck Capital Advisors and Grace Matthews Inc. are some of the tenants to recently sign leases at the Class A office building under construction at 833 E. Michigan St. Jason Inc. will be expanding its lease from 12,506 square feet to 26,043 square feet. An undisclosed tenant will occupy 2,758 square feet. 833 East also has letters of intent for two additional tenants totaling more than 37,000. These three undisclosed tenants will comprise 65 percent of the building. Lyle Landowski of Colliers International brokered the deal with Jason Inc. Steve Palec of Colliers International brokered the deal with Heck Capital. David Pudlosky of JLL brokered the deal with Grace Matthews. Previously disclosed tenants include Colliers International, Godfrey & Kahn, Irgens, Catalyst, First American Title and Rare Steakhouse. The general contractor for the project is CG Schmidt. The architect is Kahler Slater Inc. The lenders are Private Bank, Associated Bank, Anchor Bank and Bank Mutual. Colliers International is responsible for the leasing and management of 833 East.
LAWRENCE, KAN. — Inland REIT Inc. has acquired a newly constructed retail center in Lawrence, approximately 25 miles east of Topeka. The 84,981-square-foot property is located at 2727 Iowa St. and was acquired for $20.7 million. Mark Cosenza of Inland REIT facilitated the transaction on behalf of Inland. The center is 100 percent leased. Tenants include Dick’s Sporting Goods, PetSmart, Ulta Beauty and BootBarn. Dick’s Sporting Goods and PetSmart are currently open and operating, while the retail spaces for are Ulta Beauty and BootBarn are undergoing construction with an expected opening in the fourth quarter of this year.
WEATHERFORD, TEXAS — Greysteel, a Washington, D.C.-based real estate investment services firm, has arranged the sale of Country Oaks, a 64-unit multifamily community in Weatherford. Boyan Radic, Doug Banerjee, Andrew Mueller and John Marshall Doss of Greysteel represented the seller, Weatherford Country Oaks LLC, in the sale. The buyer, Mercury Metroplex Real Estate VI LLC, purchased the asset for an undisclosed price. Located on Santa Fe Drive, Country Oaks offers one- and two- bedroom units and has undergone exterior and interior renovations including new vinyl flooring, ceiling fans, resurfaced kitchen and bathroom countertops and new appliances. The property is located one mile from downtown Weatherford.
FORT WORTH, TEXAS — Trademark Property Co. is launching a micro-restaurant program dedicated to attracting unique restaurant concepts to Waterside, a 63-acre mixed-use development under construction at Bryant Irvin Road and Arborlawn Drive in Fort Worth. Trademark will lease three or four micro-restaurant spaces ranging between 600 and 1,000 square feet to local and regional businesses. The micro-restaurants will be located around The Grove, Waterside’s central public space. The Grove will serve as the heart of the development, featuring outdoor seating for restaurants, public art and the re-use of existing playground and amusement ride equipment. Waterside broke ground on its first phase of development in 2014 and later announced its first anchor tenant, a 45,000-square-foot Whole Foods Market, the first in Fort Worth. The Grove and the first 383 multifamily units will be substantially complete by spring 2016 when the retail and restaurants are projected to open.