Property Type

HFF Arranges $56.5M Loan for Newly Built Residence Inn in Boston

by Amy Works October 15, 2014

BOSTON — HFF has arranged $56.5 million in permanent financing for the Residence Inn Boston/Back Bay Fenway Park, a 175-room extended stay hotel located at 125 Brookline Ave. in Boston’s Fenway/Kenmore neighborhood. HFF secured the 10-year, fixed-rate loan for the borrower, Boylston Properties, through Cornerstone Real Estate Advisers on behalf of an institutional lender. Completed in July 2013, the eight-story, 154,684-square-foot hotel offers a mix of studio, one-bedroom and two-bedroom guestrooms. Hotel amenities include a breakfast area, lounge/bar, meeting room, indoor pool, fitness center, outdoor terrace on the top floor and below-grade parking for 50 cars. Additionally, the property includes 6,000 square feet of ground-floor retail space leased to Bar Louie’s and Santander. Fred Wittman and Robyn King of HFF represented the borrower in the transaction.

October 15, 2014

Industrial Texas

NAI Houston Negotiates Industrial Lease Renewal and Expansion

by Haisten Willis October 15, 2014

HOUSTON — NAI Houston represented Veritrust Corp. in the renewal and expansion of its industrial lease of 87,000 square feet at 2000 Afton Road in Houston. Chris Kugle of NAI Houston represented the tenant, Veritrust Corp., while Ed Bane and Jon Michael of NAI Houston represented the landlord, BRE/TX Industrial Properties LLC.

October 15, 2014

Multifamily New York Northeast

GFI Realty Arranges $24M Sale of Five-Building Multifamily Portfolio

by Amy Works October 15, 2014

NEW YORK CITY — GFI Realty Services has brokered the sale of a five-building multifamily portfolio in the Bronx. The portfolio, which consists of 206 units, sold for $24 million or $117,000 per unit. The adjacent properties are located at 922-926, 932-934, 938-940 and 944 Bronx Park South and 2137 Vyse Ave. Shulem Paneth and Eli Matyas of GFI Realty Services represented the buyer, while Yosef Katz, also of GFI Realty, represented the seller, Rising Development-BPS LLC, in the transaction.

October 15, 2014

Retail Texas

M&M Arranges Sale of Retail Property in Houston

by Haisten Willis October 15, 2014

HOUSTON — Marcus & Millichap has arranged the sale of a 15,273-square-foot Urban Outfitters store in Houston’s Rice Village shopping center. Jerry Goldstein of Marcus & Millichap’s Houston office represented the unnamed seller and the buyer, Rice University. The building is located at 2501 University Blvd. in Houston, near West University Place and Rice University. Directly across University Boulevard from the store is the 164,211-square-foot Village Arcade shopping center.

October 15, 2014

Loans Multifamily Student Housing Texas

BMC Capital Provides $1.8M Loan for Student Housing Acquisition in Austin

by Haisten Willis October 15, 2014

AUSTIN — BMC Capital’s Austin office has arranged a $1.8 million acquisition loan for a student housing property in Austin. The five-year loan includes a fixed rate of 4.4 percent and 30-year amortization. The loan was arranged through one of BMC Capital’s correspondent banking relationships.

October 15, 2014

Industrial Texas

Colliers Arranges Industrial Lease for Stanley Steemer in Metro Dallas

by Haisten Willis October 15, 2014

FARMERS BRANCH, TEXAS — Colliers International has arranged a 25,767-square-foot industrial lease for Stanley Steemer in the Dallas suburb of Farmers Branch. Stanley Steemer’s new facility will be located in Valwood Service Center, a warehouse facility with mid-to-high level finishes located at 13859 Diplomat Drive. The location will feature a showroom and carpet and upholstery cleaning operations. Allen Gump and Allyson Gump of Colliers’ Dallas office along with Sean McHale of Colliers’ Indianapolis office represented Stanley Steemer in the transaction. Weldon Davis of Focus Service Group represented the landlord, Valwood Service Center II Ltd.

October 15, 2014

Massachusetts Northeast Office

KS Partners, Oaktree Capital Acquire Three-Building Office Park

by Amy Works October 15, 2014

ANDOVER, MASS. — A joint venture between KS Partners and Oaktree Capital Management has acquired Brickstone Square, a three-building office park located in Andover. Originally constructed between 1919 and 1934 as the world headquarters for American Woolen Company, the three buildings are located at 100, 200 and 300 Brickstone Square and total more than 1 million square feet. In 1986, the property was renovated and converted into office space. On-site amenities include a full-service cafeteria, fitness center, on-site daycare center, convenience store and more than 3,000 parking spaces. Kerry Olson Hawkins, Jason Levendusky and Jake Borden of CBRE/New England have been selected to lease the property.

October 15, 2014

Multifamily Northeast Pennsylvania

Marcus & Millichap Brokers Sale of 32-Unit Apartment Building

by Amy Works October 15, 2014

ALLENTOWN, PA. — Marcus & Millichap has brokered the sale of The Glen Ridge Apartments, a 32-unit multifamily property located in Allentown. The property sold for $2 million. Located at 801 E. Turner St., the property features a mix of four studios, 21 two-bedroom units and seven three-bedroom units. Clarke Talone, Ridge MacLaren and Andrew Townsend of Marcus & Millichap’s Philadelphia office marketed the property on behalf of the seller, a limited liability company, and represented the buyer, a limited liability company, in the transaction.

October 15, 2014

New Jersey Northeast Office

NAI Hanson Arranges Sale of Hackensack Office Building

by Amy Works October 15, 2014

HACKENSACK, N.J. — NAI James E. Hanson has arranged the sale of an office building in Hackensack. AZA Property purchased the 12,000-square-foot building, which is located at 126 State St., for an undisclosed price. The buyer is relocating from Manhattan. Dominic Fittizzi and Michael Walters of NAI Hanson represented the seller, Pisarri, McEnroe & Carerii, in the transaction.

October 15, 2014

North Carolina Office Southeast

Beacon Partners Breaks Ground on Five-Story Office Building in Charlotte

by John Nelson October 15, 2014

CHARLOTTE, N.C. — Beacon Partners has broken ground on a new five-story, Class A office building located at 1616 Camden Road at the corner of Camden Road and Kingston Avenue in Charlotte’s South End submarket. The property, known as 1616 Center, will feature 10,000 square feet of retail space on the ground floor and 65,000 square feet of office space on the four floors above. Construction began on Oct. 14, which included the demolition of two existing buildings on the site. The project’s construction is estimated to wrap up in the third quarter of 2015. Architect David Furman of Centro Cityworks designed the property to feature a fitness center, locker rooms, a pedestrian plaza, patio space for the restaurants and retail space on the ground floor and an executive conference room overlooking the East/West Lynx Light Rail line. Boatsman Gillmore Wagner has signed a 12,000-square-foot lease at 1616 Center. The design team includes general contractor Edifice and architect Axiom. Charles Swanson and Kristy Venning of Beacon Partners will handle leasing 1616 Center’s office space, and Aaron Ligon of Ligon Commercial Real Estate will handle leasing the project’s retail space.

October 15, 2014

Newer Posts

Older Posts