Property Type

Hillwood Announces New Entertainment Venue at Alliance Texas

by Haisten Willis November 12, 2014

FORT WORTH, TEXAS — Hillwood Properties has finalized an agreement with Dallas-based Entertainment Properties Group Inc. to develop PINSTACK, a 50,000-square-foot entertainment venue at Alliance Town Center in Fort Worth. The planned venue will include bowling lanes and a full-service restaurant and bar that can accommodate up to 2,000 guests. The venue will also include meeting spaces to align with corporate and business needs. PINSTACK is scheduled to open in early 2016 at the intersection of Hillwood Parkway and Heritage Trace Parkway.

November 12, 2014

Retail Texas

Robert Faust Co. Arranges $2.8M Construction Loan in Metro Dallas

by Haisten Willis November 12, 2014

KAUFMAN, TEXAS — Robert Faust Mortgage Co. has arranged a $2.8 million construction loan for the proposed Shops at Kings Fort in Kaufman. The 13,244-square-foot retail center will be located on 1.7 acres on the south side of Kings Fort Parkway. The location is just east of Old Kemp Highway and south of Highway 175. A Walmart opened adjacent to the site in April 2014. Tenants will include AT&T, Texas Dentistry, Roma’s Restaurant, Oasis Nails, Great Clips, Popcorn Paradise and Verizon Wireless. Jim Meara with The Meara Co. is the developer.

November 12, 2014

Industrial Texas

NAI Houston Arranges Sale of 10.4 Acres in Metro Houston

by Haisten Willis November 12, 2014

ANGLETON, TEXAS — NAI Houston has brokered the acquisition of 10.4 Acres at Highway 288 Business and CR 220 in Angleton. The site will be developed into an eight-building industrial park. Joel Michael of NAI Houston represented the buyer, Teal Development, in the transaction. Bob Peltier of Bob Peltier & Associates Real Estate represented the seller, Second Baptist Church of Angleton.

November 12, 2014

Mixed-Use Restaurant Retail Texas

Coal Vines Restaurant to Join CityLine Mixed-Use Development in Metro Dallas

by Haisten Willis November 12, 2014

RICHARDSON, TEXAS — KDC has announced that Coal Vines, a fast-casual restaurant, will join CityLine, the company’s 186-acre mixed-use project in Richardson. The restaurant is scheduled to open in summer 2015. The restaurant is an Italian bistro concept serving individual pizzas, salads, pastas and several whole wheat and gluten-free options. Coal Vines will be located on State Street near CityLine Plaza.

November 12, 2014

Multifamily New Jersey Northeast

Clarion Partners Acquires Parkway Lofts in Bloomfield for More Than $100M

by Amy Works November 12, 2014

BLOOMFIELD, N.J. — Clarion Partners has acquired Parkway Lofts, a multifamily property in Bloomfield, for more than $100 million. The seller was a joint venture comprised of Prism Capital Partners and an institutional investor. Originally built in 1897, the property is an eight-story industrial building that was redeveloped into 136 loft-style apartment units. Units feature gourmet kitchens with stainless steel appliances and quartz countertops, walk-in closets, oversized windows and in-unit washer/dryers. Onsite amenities include a two-story fitness center, rooftop deck with fire pit and ample garage parking. Jeffrey Dunne, Gene Pride and Patrick Carino of CBRE Group’s Institutional Properties team represented the seller in the transaction.

November 12, 2014

Industrial Loans Northeast Pennsylvania

CIT Provides $32.9M in Financing to AEW, Woodmont Industrial Partners

by Amy Works November 12, 2014

MIDDLETOWN, PA. — CIT Real Estate Finance has provided a $32.9 million senior-secured loan to a joint venture between AEW Capital Management and Woodmont Industrial Partners. The financing will be used to redevelop Capital Logistics Center into a Class A, six-building, 1.5 million-square-foot industrial park in Middleton. AEW owns the property on behalf of AEW Partners VI. Financing was provided by CIT Bank, the U.S. commercial bank subsidiary of CIT. Terms of the transaction were not released.

November 12, 2014

Multifamily New York Northeast

Eastern Consolidated Arranges $8.5M Sale of Washington Heights Multifamily Building

by Amy Works November 12, 2014

NEW YORK CITY — Eastern Consolidated has arranged the sale of 720 West 172nd St., known as 121-123 Haven Avenue, in Washington Heights. Barberry Rose Management purchased the asset from David Tseng for $8.5 million. The six-story, 36,125-square-foot multifamily building features 32 apartments. The property is in close proximity to Columbia Presbyterian Hospital, Public School 173, J. Hood Wright Park and Henry Hudson Highway. Matthew Sparks and Abram Bernstein of Eastern Consolidated represented the seller; Sparks also procured the buyer in the transaction. Ari Goodman was the attorney for the seller, while Marc Landis, Brian Beller and Karen Schwimmer of Phillips Nizer LLP served as attorneys for the buyer.

November 12, 2014

Oregon Retail Western

LBG Buys the Medford Center Retail Property in Oregon

by Nellie Day November 12, 2014

MEDFORD, ORE. — An entity sponsored by LBG Real Estate Companies has acquired the Medford Center, a 420,000-square-foot regional shopping center, for an undisclosed sum. The retail center is located off Interestate-5, between the Biddle Road and Crater Lake retail corridors in Medford. The Medford Center was 87 percent leased at the time of sale. Notable tenants include Cinemark, International Fitness, Sears, Safeway, Rite Aid, Red Robin, Coldstone Creamery and Ashley Furniture. LBG plans to redevelop and reposition the center. This will include significant improvements to the center’s configuration, architectural design and the central pedestrian promenade.

November 12, 2014

New York Northeast Office

Swig Equities Completes $1.5M in Capital Improvements at 825 East Gate Boulevard

by Amy Works November 12, 2014

NEW YORK CITY — Swig Equities has completed more than $1.5 million in capital improvements at 825 East Gate Boulevard in Garden City, Long Island. Updates to the 80,000-square-foot office building included renovated lobby and entrance canopy, renovated elevators and mechanicals; upgraded electrical service; backup dual fuel generator; upgraded HVAC systems; new roof; new security and fire/life safety systems; upgraded emergency generator; new outdoor lighting; new signage; new tenant corridors; upgraded bathrooms; and a resurfaced parking area. Property amenities include a café and an on-site building manager. The property is within walking distance of retail and hospitality venues. Current tenants include a variety of law firms, a security consulting company and an insurance brokerage firm, among others. Swig Equities took over management of the property earlier this year.

November 12, 2014

New York Northeast Office

JEMB Leases Nearly 75,000 SF at 75 Broad Street

by Amy Works November 12, 2014

NEW YORK CITY — JEMB Realty has completed 75,000 square feet in new leasing activity at its office property located at 75 Broad St. in Lower Manhattan. The property is now more than 90 percent occupied. Built in 1927 as the headquarters for ITT Corp., the 33-story building offers flexible floor plates, top-tier amenities, 24-hour security and an in-house management team. JEMB acquired the property in 2000. New tenants include Human Rights First (18,000 square feet), represented by Carri Lyon, Robert Lower and Kevin Daly of Cushman & Wakefield; StellaService (10,000-square-foot expansion), represented by Patrice Meagher of CBRE; Toll Brothers; Sun & Moon Marketing (7,000 square feet), represented by Robert Constable and Willard Overlock of Cushman & Wakefied; Design Quadrant (7,500 square feet), represented by Kenneth Beilin of Beilin Commercial Real Estate; Blue Engine, represented by Jordan Rosenlicht and Lindsay Ornstein of Transwestern; Health Corps, represented by Robert Taylor of SRS Real Estate Partners; Cooper Carry, represented by Carri Lyon of Cushman & Wakefield; and Johnson Gallagher Magliery represented by George Keller and Peter Cento of Cushman & Wakefield. Approximately 60,000 square feet of office space remains available at 75 Broad Street.

November 12, 2014

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