SPRING, TEXAS — Rob Banzhaf and David Alexander with Newcor Commercial Real Estate represented Dr. Larry Richardson with Woodlands Pharmacy in an 8,000-square-foot single-tenant, build-to-suit lease on Rayford Rd. in Spring. The building is for a medical practice facility and the estimated completion is January 2015. Lewis Walker with RE/MAX represented the landlord, Dr. Sokhon, in the lease negotiations.
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HOUSTON — Rosemont Realty has secured a lease expansion and extension for Inspectorate America Corp.’s headquarters. The company’s corporate headquarters office has been located at 12000 Aerospace Ave. in Houston since August 2004. The new lease is for 30,236 square feet, an increase of 8,387 square feet. Rosemont Realty’s Carrie Powledge represented property owner Rosemont Realty in the transaction. John Parsley and Don Schmidt with Colliers International represented Inspectorate America in the lease expansion.
DENVER — One Dartmouth Place Apartments has sold to a joint venture between Oak Coast Properties and Redhill Realty Investors for $30.6 million. The 418-unit community is located at 11100 E. Dartmouth Ave. The JV plans to invest $2.6 million to upgrade the Class C community. These improvements are intended to augment the $3.6-million worth of unfinished enhancements that commenced in a few units and common areas prior to the sale. The seller was Angelo, Gordon & Co.
PORTLAND, ORE. — The Boathouse, a 133-unit apartment project in Portland, has received a $23.4-million construction loan. The community will be located on SW Boundary, east of Macadam, in Johns Landing along the Willamette River. Paradigm Properties is scheduled to break ground on the project this summer. The loan was provided by HomeStreet Bank Commercial Real Estate.
LOS ANGELES – Deloitte has leased 113,000 square feet at the Gas Company Tower in Downtown Los Angeles. The tower is located at 555 West Fifth Street. It is about 80 percent occupied. The professional services organization will have its logo prominently displayed at the top of the building. Tenant improvements are underway, and Deloitte is scheduled to take occupancy by the end of the year. Deloitte was represented by Lexis Livengood of DTZ. The landlord, Brookfield Office Properties, was represented in-house.
SAN FRANCISCO – NerdWallet has signed a seven-year lease for 45,739 square feet of office space at 901 Market in San Francisco. The 212,319-square-foot historic building sits adjacent to the Westfield San Francisco Shopping Centre and Union Square BART entrance. The consumer-focused financial start-up will occupy its new space in the fourth quarter of this year. The landlord is Hudson Pacific Properties.
BOCA RATON, FLA. — ARA has arranged the $80.3 million sale of San Marco at Broken Sound, a 336-unit luxury villa and townhome community in Boca Raton. The asset was 96 percent occupied at the time of the sale. Hampton Beebe and Avery Klann of ARA represented the seller, Chicago-based Capri Capital Partners LLC, in the transaction. Marc deBaptiste and Richard Donnellan of ARA assisted in the sale. The buyer was Miami-based BC Property Investments.
WEST PALM BEACH, FLA. — New England Development plans to open Marketplace at the Outlets, a 300,000-square-foot retail center currently under construction, in the fall. The center is located adjacent to the recently opened Palm Beach Outlets in West Palm Beach. The center will feature 20 stores, including Bed Bath & Beyond, DSW Designer Shoe Warehouse, Nordstrom Rack, Old Navy, PetSmart, Pier 1 Imports, Sports Authority, T.J. Maxx, Ulta Beauty and Whole Foods. New England Development, also the developer of Palm Beach Outlets, partnered with Eastern Real Estate in the development of Marketplace at the Outlets.
NASHVILLE, TENN. — Southeast Venture has purchased a 20,000-square-foot mixed-use building located at 714 8th Ave. in Nashville for approximately $4.3 million. The asset sits at the northeast corner of 8th Avenue and Division Street in Nashville’s Gulch East submarket. The property’s tenant roster includes Alfred Williams & Co., Studio Eight Design and Flyte, an upscale restaurant and wine bar. Southeast Venture was represented internally by Tarek El Gamel. The seller, AWC Partners, worked directly with the buyer without a broker.
WASHINGTON, D.C. — The Greysteel Co. has arranged the sale of a government-leased, five-floor office building on Embassy Row in Washington, D.C. The Embassy of the Republic of Georgia has leased the asset, located at 2209 Massachusetts Ave. N.W., since 2007. Ari Firoozabadi, Gil Neuman, Kyle Tangney, John Mullen, Henry Schuldinger and Caleb Brown of Greysteel represented the seller, Delshah Capital, in the transaction. The buyer, RezRoss Investment Group LLC, purchased the building for an undisclosed price.