THE WOODLANDS, TEXAS — Liberty Pipeline Services has expanded and relocated its offices from Spring to The Reserve at Sierra Pines in The Woodlands. Liberty increased the size of its space from 3,300 square feet to 9,313 square feet in the new Class A building, which is located at 1585 Sawdust Road. Ryan Dierker and Rob Banzhaf with Newcor Commercial Real Estate represented Liberty Pipeline Services in locating and negotiating the office space lease. Jarrod McQuain of Cushman and Wakefield represented the sub landlord.
SAN DIEGO — The Richman Group of California has announced its plans to build three new residential/mixed-use projects in Southern California. The new communities will be located in Los Angeles, Orange and San Diego counties. They will contain a total of 326 apartment units for a combined value of $150 million. Richman’s first project is a 95-unit, affordable seniors community at 345 Commonwealth Ave. in Fullerton. The six-story, 130,000-square-foot midrise building will contain 3,200 square feet of retail space, as well as a subterranean parking garage. It is scheduled for completion in spring 2016. The group also plans to break ground on a 132-unit luxury apartment community in Cerritos later this year. The firm most recently received approval for F11, a 99-unit apartment community in San Diego. It will front the north side of F Street, between 11th Avenue and Park Boulevard. F11 will feature 5,644 square feet of street-level commercial space, resident and guest parking spaces, and indoor and outdoor recreational amenities. The U-shaped tower will surround a south-facing courtyard and pool area. Other amenities include exercise facilities and a bowling alley. The Richman Group is partnering with Shearn H. Platt, a subsidiary of the Richman Group Development Corp., …
SAN MATEO, CALIF. — Land & Houses USA Inc. has purchased the 111-unit Mode by Alta apartment community in the Silicon Valley submarket of San Mateo for $73.6 million. The community is located at 2089 Pacific Blvd. Mode by Alta was completed late last year. Apartments have above-standard ceiling heights, patios or balconies, oversized windows and high-end contemporary finishes. Community amenities include a fitness center and yoga studio, a contemporary lounge with a chef’s kitchen and resident business center, and resort-style courtyards with water features, fire pits and an outdoor kitchen. The community is within walking distance of Caltrain. It is also one mile from San Mateo’s downtown district. The developer and seller, Wood Partners, was represented by Stanford Jones, Philip Saglimbeni and Salvatore Saglimbeni of Institutional Property Advisors.
BEND, ORE. — A joint venture between Tryperion Partners and Vesta Hospitality has acquired the Riverhouse Hotel & Convention Center, a 220-room hotel in Bend, for an undisclosed sum. The full-service hotel is located at 3075 US-97 BUS, along the Deschutes River. The acquisition includes a 53,000-square-foot convention center. The joint venture plans to upgrade the guest rooms and food and beverage outlets. The hotel also has prime access to walking and hiking trails along the river.
OAKLAND, CALIF. — A new food market known as Water Street Market will soon debut at Jack London Square, a mixed-use waterfront development in Oakland. The new market will be developed by Steve Carlin and the Carlin Company, in partnership with Jack London Square Ventures, a joint venture between Ellis Partners and DivcoWest. The market will be located at 55 Harrison Street. Carlin has developed similar projects in the area, including Oxbow Public Market in Napa and the Ferry Building Marketplace in San Francisco. Carlin will serve as master lessor for the 32,000 square feet on the first floor. The second floor will be renovated for additional market-related uses at a later date. The building also contains 110,000 square feet of office space spread among four upper levels. Plank, a food and entertainment venue, opened this past October at Jack London Square, while Steel Rail, a locally owned café, will open this spring. The City of Oakland also recently approved plans for 665 residential units on two parcels near the Market that will help meet the city’s growing demand for urban housing. Jack London Square is Oakland’s only publicly accessible mixed-use waterfront area. It has been a landmark along a …
PORTLAND, ORE. – The 72-unit Connery Place apartment community in Portland has sold to a private investor for $7 million. The community is located at 8110 SE Mill Street in the southeast Montavilla neighborhood. It is 97 percent occupied. The property features a renovated clubhouse and outdoor pool. About 30 percent of the units have been renovated. HFF’s Nick Klein and Tyler Linn represented both the buyer and seller, Cumberland Holdings, in this transaction.
NEW YORK CITY — HFF has arranged $27 million in financing for The Hawthorne, a multifamily property in the Valley Stream submarket of Long Island in New York City. HFF secured the floating-rate loan for the borrower, Zeus Capital Managers, through Prime Finance. Located at 125 South Cottage St., the 90-unit residential community features 33 one- and 57 two-bedroom units averaging 1,115 square feet. Community amenities include a 15,000-square-foot courtyard with a fire pit and outdoor cooking and entertaining areas, a lounge with billiards, a fitness center and garage parking. Christopher Peck, Rob Hinckley, Andrew Scandalios and Christopher Rodriguez of HFF arranged the financing.
MATAWAN, N.J. — Hudson Equities Management Corp. has acquired an office property located at 90 Matawan Road in Matawan. Vision Real Estate Partners sold the property, known as Parkway 120, for an undisclosed price. The five-story building features underground parking, a dual-sided atrium lobby, an onsite café and sundries shop and card-access security. Prior to the sale, Vision Real Estate Partners’ brought the 210,000-square-foot property to full occupancy. At the time of the sale, Vision Real Estate Partners negotiated an expansion for long-term tenant iCIMS, which now occupies 83,900 square feet. The buyer and management team plans to renovate the two-story lobby at Parkway 120. The renovations will include updated finishes, new lighting and carpeting and the addition of a seating area. Vision Management will continue to manage the property under the new ownership.
NEW YORK CITY — Ariel Property Advisors has brokered two sales in Queens totaling $4.8 million. In the first transaction, the firm negotiated the sale of a development site with approved plans, located at 14-23 Broadway in Astoria, for $1.95 million. The 25-foot by 136-foot vacant lot is zoned for 13,620 buildable square feet of mixed-use or residential development. Daniel Wechsler, Michael Tortorici, Howard Raber, Marko Agbaba and Victor Sozio of Ariel Properties represented the seller and procured the buyer, both real estate investment groups, in the transaction. In the second deal, a retail site at 175-42 Hillside Ave in Jamaica sold for $2.85 million. The 100-foot by 100-foot lot includes a 2,054-square-foot building that is leased to KFC Corp. on a triple-net lease basis. Additionally, the site offers a total of 40,000 buildable square feet for future development. Tortorici, Wechsler, Agbaba and Sozio represented the seller, a real estate investment firm, and procured the buyer, a private investor, in the transaction.
PHILADELPHIA — NAI Mertz has arranged the sale of an industrial facility, located at 2729 E. Butler St. in Philadelphia. Crown Poultry purchased the 11,800-square-foot facility from KTKS LLC for an undisclosed price. The property is outfitted for food manufacturing and distribution, complete with refrigerated cooler and freezer spaces. The property features 12- to 24-foot clear ceiling heights, a small office area, three tailgate truck doors with dock levelers and one drive-in door. The buyer plans to use the facility for food manufacturing and distribution. Jeffery Licht and Adam Lashner of NAI Mertz represented the seller in the transaction.