Property Type

Principal Real Estate Investors Buys 216,000 SF Industrial Facility

by Amy Works October 17, 2014

MOONACHIE, N.J. — Principal Real Estate Investors has acquired One Lladro Drive, an industrial facility located in Moonachie, for an undisclosed price. The 216,000-square-foot industrial facility will undergo a major capital improvements program, including improved sprinkler systems, lighting and loading capabilities, to ensure the property as an institutional-quality asset. Principal Real Estate Investors has selected the CBRE team of William Waxman, Mindy Lissner, Matthew Corpuel, Thomas Tucci and Jamie Dennison to rebrand and reposition the property, which will be renamed Tri-State Commerce Center.

October 17, 2014

Loans Multifamily New York Northeast

Eastern Union Funding Arranges $26M in Refinancing for 333 Greene Ave.

by Amy Works October 17, 2014

NEW YORK CITY — Eastern Union Funding has arranged $26 million in refinancing for 333 Greene Ave., a 12-story residential building located in New York City. The 56-unit project, which was bought out of foreclosure in 2013 by Bonjour Capital, is now 99 percent leased. When originally purchased, 333 Greene was an unfinished skeleton of a building. Now the property features lofts and apartments with floor-to-ceiling windows, stainless steel appliances and Caesarstone countertops. Shaya Sonnenschein of Eastern Union Funding arranged and underwrote the loan, which features a fixed 3.45 percent interest rate on a seven-year term. Mercantile Bank provided the loan.

October 17, 2014

New Jersey Northeast Retail

The Fresh Market Opens at The Village of Livingston

by Amy Works October 17, 2014

LIVINGSTON, N.J. — The Fresh Market has opened its third location in New Jersey at The Village at Livingston in Livingston. The store has signed a long-term lease to occupy 23,000 square feet at the 93,000-square-foot shopping center, which is owned and managed by Eastman Cos. Located at 277 Eisenhower Parkway, the shopping center serves a growing residential population of more than 185,000 people within a five-mile radius. The Fresh Market was founded in 1982 and provides a product selection and expert customer service in an atmosphere that is reminiscent of European-style markets. The company currently operates 155 stores in 26 states.

October 17, 2014

New York Northeast Office

FilmRise Acquires 5,000 SF Office Space in Brooklyn

by Amy Works October 17, 2014

NEW YORK CITY — FilmRise, a digital distribution company, has acquired office space at Industrial City in Brooklyn’s Sunset Park neighborhood. Located at 34 35th St., the 5,000-square-foot space was designed by Lester Evan Tour and features a large open floor space, bare ceilings, the original restored 100-year-old wood floors and more than 30 windows overlooking the New York City Harbor and the Statue of Liberty.

October 17, 2014

Office Texas

DivcoWest Purchases Office Portfolio in Northwest Austin

by Haisten Willis October 17, 2014

AUSTIN — DivcoWest has purchased Lakewood Center and The Park, two office complexes located in Austin’s northwest submarket. The projects contain three buildings totaling 185,000 square feet of Class A office space. Lakewood Center consists of two buildings located on Highway 360, one with 48,000 square feet and the other with 44,000 square feet. The Park, located on Highway 1, consists of one building with 93,000 square feet.

October 17, 2014

Office Texas

Lewis Brisbois Bisgaard & Smith Leases 30,000 Square Feet in Dallas

by Haisten Willis October 17, 2014

DALLAS — Law firm Lewis Brisbois Bisgaard & Smith LLP has leased 30,073 square feet at 2100 Ross Ave. in Dallas. Randy Cooper, Craig Wilson, Frank McCafferty and Jonathan Larsen of Cassidy Turley represented the law firm. The property is owned by Atlanta-based Cousins Properties. Cynthia Cowen and William Brokaw of Cushman & Wakefield represented the landlord. The building consists of 33 stories and includes a conference center that seats 175, cafes, a fitness center and sky bridge pedestrian system.

October 17, 2014

Industrial Texas

HFF Arranges $18.8M Financing for Industrial Portfolio in Metro Dallas

by Haisten Willis October 17, 2014

RICHARDSON AND CARROLLTON, TEXAS — HFF has arranged $18.8 million in acquisition financing for a six-property, 16-building industrial portfolio totaling 462,618 square feet in the north Dallas area. HFF worked on behalf of the borrower, Red Tail Acquisitions, to secure the 10-year, fixed-rate loan through a correspondent life insurance company. Loan proceeds were used to purchase the portfolio. HFF also represented the seller. The portfolio consists of 1360-1420 Presidential Drive and 850-890 North Dorothy Drive in Richardson, along with 1420 Halsey Way, 1406 Halsey Way, 2122 Country Club Drive and 2855 Trinity Square Drive in Carrollton, Texas. The properties are located near I-635 and Highway 75. The properties are 87 percent leased overall to 41 tenants, including NOW Specialties Inc., Optex Systems Inc., Laboratory Corp. of America, SKH Beauty Inc. and All Sorts Mailing Services Inc.

October 17, 2014

California Loans Multifamily Western

Greystone Funds $46.5M in Western-Based Multifamily Loans

by Nellie Day October 17, 2014

SAUSALITO, CALIF. – Greystone’s recently expanded West Coast operations team has funded three Western-based multifamily loans totaling $46.5 million. The loans include a $23.4-million refinance for a 90-unit community in Sausalito, Calif.; a $10.4-million refinance for a Class A multifamily project in Mountain View, Calif.; and a $12.7-million acquisition loan for a Class A multifamily property in Goodyear, Ariz. The Sausalito loan features a 12-year term with five years of interest-only. The other two loans feature 10-year terms. Financing was originated by Tim Thompson of Greystone’s San Francisco office under the Fannie Mae Delegated Underwriting and Servicing (DUS) program include.

October 17, 2014

Office Texas

Cousins Properties to Begin Construction of Office Property in Austin

by Haisten Willis October 17, 2014

AUSTIN — Cousins Properties Inc. is set to begin construction on Research Park V in Austin. The 173,000-square-foot office development is the last in a five-building complex Cousins is developing. Construction is projected to start later this year and be completed in the fourth quarter of 2015. Cousins anticipates the total development cost for Research Park V will be $44 million.

October 17, 2014

Multifamily Nevada Western

Las Vegas Apartment Portfolio Sells for $40M

by Nellie Day October 17, 2014

LAS VEGAS – The Bascom Group and funds managed by Carlyle Realty VII L.P. have acquired a two-property Las Vegas apartment portfolio for $39.9 million. The properties included in this transaction are Summerhill Villas at 2150 North Tenaya Way and Bayshore Club at 4975 South Duneville Street. “We are excited to be acquiring two very well-located properties in the Las Vegas metro,” says Scott McClave, principal transactions for Bascom. Summerhill Villas was built in 1990, while Bayshore Club was constructed in 1989.

October 17, 2014

Newer Posts

Older Posts

Upcoming Events

Aug
26