BOSTON — The Boston Conservatory has opened its new 20,000-square-foot studio building, which is located at 132 Ipswich St. in Boston. Designed by Handel Architects and Utile Inc., the studio features a 3,200-square-foot orchestra rehearsal space, two dance studios, teaching studios, multipurpose rooms and practice rooms for the instruction of movement, voice, instrument and orchestra ensemble. Additionally, the building features a three-story open atrium, natural light and views of the Boston skyline.
Property Type
HOUSTON — Levey Group and TriStar Glass Products have executed an earnest money contract for a design-build facility on more than five acres of land inside IAH Business Park. The development will include a 66,000-square-foot facility featuring a 4,000 amp electrical service, drive-through site plan configuration and additional land for future expansion. The property is adjacent to Bush Intercontinental Airport along Aldine Westfield Road. Nick Peterson and John Ferruzzo of NAI Houston represented Levey Group in the transaction. Blake Anderson and David Eseke of Cassidy Turley’s Dallas office represented TriStar.
CARLSBAD, CALIF. — Regent Properties has acquired Fairway Corporate Center, a 115,414-square-foot office property in Carlsbad, for $23.5 million. The two-building, Class A center is located at 5540 and 5541 Fermi Court inside the Carlsbad Research Center. TaylorMade-adidas Golf occupies the former address. It also occupies part of the latter address, along with Hartford Life. The property is 70 percent leased in total. The center was built in 1999. Regent Properties now owns seven properties in the North San Diego County area. Aric Starck of Cassidy Turley represented both the buyer and seller, Fermi Court LP, an entity for Greene Properties, in this transaction.
JEFFERSON CITY, MO. — Paramount Lodging Advisors (PLA) has arranged the sale of a 70-room Holiday Inn Express in Jefferson City. A local investor purchased the property, located at 1716 Jefferson St., for an undisclosed price. The new owner will rebrand the hotel. Adam Montufar, Bennett Webster and Brent Clemens of PLA represented the seller, LNR Partners. The team completed the transaction via Auction.com.
ATLANTA — Two Atlantic Station office towers owned by CBRE Global Investors — 201 17th St. and 271 17th St. — have been designated as BOMA 360 Performance Buildings by the Building Owners and Managers Association (BOMA) International. The BOMA 360 Performance Program recognizes commercial properties that demonstrate best practices in building operations and management, according to BOMA. In addition to the BOMA 360 designation, 201 17th St. also received the 2013-2014 Regional TOBY Award in the 250,000- to 499,999-square-foot category, and 271 17th St. received the 2013-2014 Regional TOBY Award in the 500,000- to 1 million-square-foot category. This year both towers were also awarded LEED-EB Gold certification, as well as ENERGY STAR certification.
LA PORTE, TEXAS — Marcus & Millichap has arranged the sale of La Porte Office Warehouse, an 18,000-square-foot industrial property in La Porte. Alex Bouchard of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, a private investor. La Porte Office Warehouse is located at 930 S. 14th St. in La Porte.
LOS ANGELES – A 164,312-square-foot office and retail property in the Los Angeles submarket of Woodland Hills has received $19.3 million in financing. The property is located at 6325 & 6355 Topanga Canyon Blvd. Notable tenants at the property include Fleming’s and Roy’s. The first-mortgage loan featured a significant cash-out for the office and retail buildings. The 10-year, interest-only loan was arranged by David Blum and Michael Elmore of NorthMarq Capital’s Los Angeles office through the firm’s relationship with a CMBS lender.
WARREN, MICH. —Colliers International has arranged the retail lease of 2,006 square-feet in Warren. Firehouse Subs will occupy space at 32900 Dequindre Road. Barry Landau of Colliers International represented the landlord, Universal Mall Properties LLC. Landau has represented the landlord in much of its retail space leasing. Firehouse Subs is expanding throughout the metro Detroit area. This location joins 17 others throughout the state.
SUFFERN, N.Y. — Meridian Capital Group has arranged a $65 million loan for the purchase of an industrial property in Suffern. The borrower is Raymour & Flanigan, a premier furniture and home design store. Located at 30 Dunnigan Dr., the industrial warehouse totals 871,600 square feet. Raymour & Flanigan and Par Pharmaceutical occupy the property. The 10-year loan, which was provided by CMBS lender, features a 4.57 percent fixed-rate and a 25-year amortization schedule. Ari Adlerstein and Ari Dobkin of Meridian Capital’s New York City headquarters negotiated the transaction.
HEWLETT, N.Y. — Woodmere, N.Y.-based Basser Kaufman has acquired the Peninsula Shopping Center in Hewlett. Shelly Horne of HST Realty sold the property for an undisclosed price. Located at the intersection of Peninsula Boulevard and Mill Road, the 70,000-square-foot neighborhood shopping center is anchored by a Foodtown Supermarket and many long-term tenants. The property was originally constructed in 1959.