GRAND PRAIRIE, TEXAS — Lee & Associates has arranged the lease renewal for a 50,000-square-foot industrial space located at 1421-1425 Ave. R in Grand Prairie, just west of Dallas. Mark Graybill and Scott Giordano of Lee & Associates’ Dallas/Fort Worth office represented the tenant, Fit Supply, a provider of commercial fitness equipment. Dan Lawson of Proterra Properties Inc. represented the landlord, Greenbriar Holding Dallas.
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MARIETTA, GA. — Atlanta-based Fairlead Commercial Real Estate has acquired Parkway Center, two 12-story, Class A office towers totaling 458,861 square feet in Marietta, a northern suburb of Atlanta. The properties are located on a 16-acre parcel directly off of I-75 and South Marietta Parkway. Fairlead and its equity partners, Bridge Investments Group Partners, managers of the ROC Funds, purchased the buildings directly from the seller for an undisclosed price. Fairlead plans to invest approximately $4.5 million to upgrade the towers’ operating systems, common areas and tenant amenities. Jeff Shaw, Jim Caswell and Stewart Thrash of Fairlead will handle leasing Parkway Center, which was 54 percent occupied at the time of sale.
GREENSBORO, N.C. — CBRE | Triad has arranged the sale of Deep River Corporate Center and West Friendly Business Park in Greensboro’s Piedmont Triad Airport submarket. The two flex/industrial facilities total 206,794 square feet. Richmond, Va.-based Lingerfelt CommonWealth Partners purchased the two assets for an undisclosed price. Jonathan Smith, Dodson Schenck and Greg Wilson of CBRE | Triad represented the seller in the transaction.
MIAMI — Meridian Capital Group LLC has negotiated a $17 million loan to refinance the Aloft Miami-Brickell in Miami. The 160-room hotel is located at 1001 S.W. Second Ave. in Miami’s financial district. Michael Brown and Brad Beattie of Meridian Capital arranged the 10-year loan with a fixed 4.86 percent interest rate through an unnamed CMBS lender.
UPPER MARLBORO, MD. — Transwestern has brokered the sale of 8300 Pennsylvania Ave., a 180,000-square-foot industrial property in Upper Marlboro. Chesapeake Real Estate Group LLC and Thompson Creek Window Co. purchased the building from Murry’s Inc., a frozen food manufacturer, for $8.7 million. The property served as Murry’s Inc.’s corporate headquarters. Mark Glagola, Ken Marks and Bob Filley of Transwestern represented Murry’s in the transaction. Chesapeake Real Estate and Thompson Creek Window plan to build a 120,000-square-foot headquarters facility for Thompson Creek at the site. Murry’s also leased new headquarters space at 7852 Walker Drive in Greenbelt, Md. Susan Kay and Mark Boyce of Transwestern represented Murry’s in the 3,800-square-foot lease.
PHILLIPSBURG, N.J. — HFF has brokered the sale of Greenwich Center, a 182,583-square-foot retail power center in Phillipsburg. An affiliate of Northeast Capital Group and BHN Associates purchased the property for $22.7 million from Retail Properties of America Inc. in an all cash transaction. Located at 1200-1208 New Brunswick Ave., the shopping center is 93.25 percent leased to national and regional tenants, including Staples, Best Buy, Pier 1 Imports, Petco, Dollar Tree, Sleepy’s, Michaels, Ashley Furniture, Five Below and Famous Footwear. Jose Cruz, Andrew Scandalios, Kevin O’Hearn, Jeffrey Julien and Chris Munley of HFF represented the seller in the transaction.
NEW YORK CITY — Meridian Capital Group has arranged $70 million to refinance the Refinery Hotel located on 63 West 38th St. in New York City. The borrower was 63 West 38th LLC. The 12-story hotel features 197 rooms, as well as Parker & Quinn restaurant, Winnie’s lobby bar, Refinery Rooftop, and The Hatbox, an industrial gallery space. A CMBS lender provided the fixed-rate 10-year loan. David Hayum and Steven Adler of Meridian Capital negotiated the financing.
BOSTON — Related Beal has launched Congress Square, formerly known as The Block on Congress, a redevelopment and reinvention of an entire city block in downtown Boston. Related Fund Management acquired Congress Square from a Fidelity entity in 2013. The five-building portfolio consists of approximately 343,000 square feet and includes 40 Water St., 68 Devonshire St., 19 Congress St., 15 Congress St. and 54 Devonshire St. The project includes the repositioning and development of a 24-hour mixed-used environment offering office, residential, hotel, restaurant and retail space. Additionally, the project plans call for the creation and activation of Quaker Lane, which will bisect the property and connect Post Office Square to Faneuil Hall. Related Beal has engaged Arrowstreet to serve as architect and redesign the existing buildings into the new project. The developer has also selected CBRE/Grossman Retail Advisors to lead all retail leasing efforts and JLL as the brokerage firm for the project’s office space 40 Water St. The redevelopment office space will be available for occupancy in early 2016. Retail opportunities will be available for occupancy in fall 2015.
NORWALK, CONN. — West Hempstead, N.Y.-based GTJ REIT has acquired an industrial building located in Norwalk for an undisclosed price. Situated on approximately three acres, the 50,000-square-foot building features 18-foot clear heights. The property, which carries I-1 zoning is currently occupied by FedEx Corp. Additional details of the transaction were not released.
NEW YORK CITY — TerraCRG has brokered the sale of 181 12thSt., a multifamily building located in Brooklyn’s Park Slope/Gowanus neighborhood. The property sold for $3.1 million or $527 per square foot to an undisclosed buyer. The 5,880-square-foot building features six one-bedroom, one studio and one duplex unit. Adam Hess, Sam Schalumov and Chris Pechlivanides of TerraCRG arranged the transaction.