VALENCIA, CALIF. — PPG Aerospace has renewed its lease for 83,000 square feet of specialized industrial space in Valencia. The highly customized space is located at 24811 Ave. Rockefeller. PPG uses the property as its aeronautics manufacturing, design and office space. PPG Aerospace is a division of PPG Industries. The company was represented by Mark Evanoff and Andrew Berk of Avison Young. The landlord, Krausz Company, represented itself in this transaction.
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SALT LAKE CITY – MasteryConnect has leased 17,353 square feet at a Class A office building in Salt Lake City. The building is located at 222 Main in the city’s Central Business District. The property was built in 2009. It was Utah’s first LEED-Gold certified building, according to the landlord, KBS Real Estate Investment Trust III. MasteryConnect was represented by JLL’s Jim Balderson and Jesse Mangum. KBS REIT was represented by CBRE’s Scott Wilmarth and Nadia Letey.
PLANO, TEXAS — Jones Lang LaSalle will provide management services for Toyota’s planned new North American headquarters in Plano, a suburb of Dallas. Toyota has also hired developer KDC and design firm Corgan for the project. JLL previously assisted Toyota in analyzing potential sites before the company chose Plano. Toyota plans to move into its new headquarters at the southwest corner of State Highway 121 and Legacy Drive in either late 2016 or early 2017. The headquarters is expected to employ 4,000 workers in a 1 million-square-foot property.
HOUSTON — Houston-based Baker Katz has negotiated 9,000 square feet of leases for Nothing Bundt Cakes in the Houston area. Lunden McGill of Baker Katz negotiated the leasing of the five locations with a number of different brokers. Each location is about 1,800 square feet. Nothing Bundt Cakes is known for its desserts, with locations throughout the country.
PLANO, TEXAS — HFF has arranged financing for The Preserve at Arbor Hills in Plano. HFF worked on behalf of the borrower, Pure Multi-Family REIT LP, to secure the seven-year loan through Northwestern Mutual. Loan proceeds were used to acquire the property. The Preserve at Arbor Hills is located at 7001 W. Parker Road next to the Arbor Hills Nature Preserve and 21 miles north of downtown Dallas. The property is 97 percent leased and includes 330 one-, two- and three-bedroom units averaging 1,006 square feet. The complex was built in 1998. Amenities include a pool, spa, gym, picnic areas, business center and coffee bar. John Brownlee led the HFF team representing the borrower.
HOUSTON — Boyd Commercial/CORFAC International has completed a trio of transactions for Jetco Delivery Inc., a trucking and logistics company. The transactions include the acquisition of a new property, sale of an existing property and lease of a third property. Bo Pettit and David Boyd of Boyd Commercial arranged the transactions for Jetco, which has been on an extended search for the right place to expand and consolidate their business. Upon completion, the company’s new headquarters, located at 3010 Aldine Bender drive in Houston, will have 30,000 square feet of office, warehouse and truck maintenance space.
COPPERAS COVE, TEXAS — Dougherty Mortgage LLC has arranged a $1.5 million Fannie Mae loan for the refinancing of Brookview Village, a 96-unit multifamily affordable housing property in Copperas Cove, near Fort Hood in central Texas. The complex offers one- and two-bedroom floor plans for seniors aged 55 or older. Dougherty’s Austin office arranged the 15-year loan with a 30-year amortization schedule for the borrower, Copperas Cove Brookview Village Apartments LP.
WASHINGTON, D.C. — The 217,070-square-foot office tower at 1800 K St. N.W. in Washington, D.C., is set to undergo a $40 million transformation. Completion is scheduled for the first quarter of 2016. The renovation will include a new floor-to-ceiling glass façade along both K and 18th streets, as well as upgrades to the elevators and mechanical systems. The lobby will also undergo a redesign, with the floor being moved to street grade. The transformation will also include the addition of a tenant-only fitness center and rooftop terrace. Scott Frankel, Andrew Felber, Mark Klug and Max Friedman of CBRE provide landlord representation and leasing services for the office tower. The design team includes DRI Development Services, Forrester Construction and VOA.
LARGO, FLA. — Dockside Investors VII will break ground this month on The Boulevard, an upscale, mid-rise apartment community in Largo, part of the Tampa Bay metro area. The property will be comprised of 260 units in one- to three-bedroom floorplans. The Boulevard’s amenity offerings will include a wellness center, yoga studio, resort-style outdoor pool, indoor lap pool, pet park, resident services gallery, concierge services and a gaming room. Balfour Beatty Communities has been awarded the management contract for the property. Balfour Beatty expects to begin pre-leasing the property in November with the apartments ready for move-in by spring 2015.
CONYERS, GA. — Cushman & Wakefield has brokered the sale of the Hillphoenix Global Warehouse, a 500,000-square-foot build-to-suit industrial facility at 2016 Gees Mill Road in Conyers, part of Atlanta’s 1-20 East industrial submarket. The property features 33-foot clear heights, cross-dock design, T-8 lighting, LED wall packs/pole lights and ESFR fire protection. Hillphoenix fully leases the property and recently signed a new 15-year lease at the facility, which serves as its global headquarters. New York-based Ladder Capital purchased the property from Ashley Capital for an undisclosed amount. Stewart Calhoun, David Meline, Samir Idris and Casey Masters of Cushman & Wakefield’s Atlanta office represented Ashley Capital in the transaction.