NEW YORK CITY — Eastern Consolidated has arranged the sale of a retail center located at 1257-1267 Forest Avenue in Staten Island for $5.25 million at $200 per square foot with an 8 percent cap rate. The two-story, 25,860-square-foot property features 12 fully leased retail spaces and a 41-car parking lot. Current tenants include Avon, Papa John’s Pizza, Payless Uniforms and CKO Kickboxing. Adelaide Polsinelli and Carlos Olson of Eastern Consolidated represented the seller in the transaction.
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NEW YORK CITY — Marcus & Millichap has brokered the sale of 147 Leonard Street in Brooklyn. The eight-unit apartment building sold for $2.3 million or approximately $411 per square foot. James Saros, Michael Salvatico and Shaun Riney of Marcus & Millichap’s Brooklyn office represented the seller, a private investor, and the buyer, a private investor, in the transaction.
DALLAS — CBRE has brokered the sale of Galleria North Tower I, a Class A office tower located at 13737 Noel Road in north Dallas. The 16-story, 379,518-square-foot office tower is 87 percent occupied, and includes an executive parking level beneath the building, as well as an adjoining parking garage. CBRE’s Gary Carr, John Alvarado, Eric Mackey and Robert Hill arranged the transaction on behalf of FSP Galleria North Limited Partnership. Deutsche Asset & Wealth Management acquired the tower on behalf of one of its institutional clients for an undisclosed price. Galleria North Tower I’s tenant mix includes Dealertrack Technologies, EmCare Holdings, Insperity and U.S. Bank.
OKLAHOMA CITY —The LaSalle Group has broken ground on a 30,000-square-foot, $9.5 million memory care facility in southwest Oklahoma City. Autumn Leaves of Southwest Oklahoma City will accommodate nearly 50 residents with Alzheimer’s and other forms of dementia. LaSalle recently opened Autumn Leaves of Edmond and currently has 36 communities open or under construction across the country. Autumn Leaves of Southwest Oklahoma City is a partnership between The LaSalle Group, Silverado Interests and Prosperity Bank. The community is expected to open during the first quarter of 2015.
HOUSTON — Boxer Property has acquired Northwest Crossing II, a three-story, multi-tenant office building of approximately 135,571 square feet, located at 7676 Hillmont Street in the Northwest submarket. Boxer Property plans to renovate the property with updates to all of the common areas, lobby, restrooms and lounge space, as well as offering Boxer Workstyle space, which caters to businesses looking for collaborative workspace.
AUSTIN, TEXAS — Dougherty Mortgage LLC has closed a $5.5 million Fannie Mae refinance loan for the Triple Crown Apartments, a 182-unit multifamily housing property in Austin, located at 7020 Grand Canyon Drive. The 10-year term, 9.5-year yield maintenance loan was arranged by Dougherty’s Dallas office on behalf of a local ownership group, 7020 Grand Canyon LLC.
TEXARKANA, TEXAS — Marcus & Millichap has brokered the sale of Cash America Pawn, a 22,080-square-foot, net-leased property located at 3501 North Stateline Avenue in Texarkana. Vincent Knipp, associate vice president of investments and Chance Hales, an associate in Marcus & Millichap’s Fort Worth office, marketed the property on behalf of the seller, a private investor. Knipp and Hales also secured the buyer, a private investor.
SAN DIEGO — An entity of NBC 7 San Diego has acquired a 52,347-square-foot office building in San Diego for $9.6 million. The Class A building is located at 9680 Granite Ridge Drive in the StoneCrest office complex of Kearny Mesa. The NBC station plans to use the space for a new television studio and administrative offices. NBC 7 San Diego is an NBCUniversal Owned Television Station. The entity that acquired the asset was KNSD Granite Ridge LLC. It was represented by Tim Cowden, Jay Arnett and David Kim of Colliers International. The seller, T-C Stonecrest LLC, was represented by CBRE’s Brad Black and Mike Hoeck.
COSTA MESA, CALIF. — Bristol Village Plaza, a 125,000-square-foot shopping center in Costa Mesa, has received $7.7 million in CMBS financing. The plaza is located at 270 Bristol Street. Notable tenants include McDonalds and Del Taco. Starbucks is in the process of building out its store and obtaining final city approvals as well. The 10-year CMBS loan features a fixed rate of 4.74 percent and full-term, interest-only payments. It will be used to refinance the property. The loan was negotiated by Seth K. Grossman and Andy Strauss of Meridian Capital Group on behalf of The Festival Companies.
HAWTHORNE, CALIF. – ThinKom Solutions has signed a seven-year lease at OceanGate Business Park in Hawthorne. The park is located at 4881 W. 145th Street. The broadband antenna and product solutions provider will be expanding and relocating from its current headquarters in Torrance. ThinKom was represented by JLL’s Chris Strickfaden and Mark Mattis of PM Realty Group. The landlord, St. Paul Fire and Marine Insurance, a division of the Travellers Insurance, was represented by Britt Shuford of SCO Advisors.