FORT WORTH — CBRE has arranged $58 million in financing for Chesapeake Plaza, a 20-story, Class A office building in Fort Worth. CBRE worked on behalf of the borrower, Hines, while BBVA Compass provided the floating-rate loan. Chesapeake Plaza is a 460,000-square-foot office building with on-site amenities including a gym, café and dining area. The property was built in 2004 as the corporate headquarters for Pier 1 Imports. The seller, Chesapeake Energy, bought the building in 2008 during a time it acquired interests in the Barnett Shale. As part of the sale, the property will be renamed the Pier 1 Imports Building. Greg Greene and Scott Lewis with CBRE’s Dallas office worked on the loan.
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WHITE SETTLEMENT, TEXAS — Lee & Associates has arranged the sale of a 45,200-square-foot industrial space located at 801 Ozona Ave. in White Settlement, just west of Fort Worth. Becky Thompson with Lee & Associates’ Dallas/Fort Worth office represented the landlord, Edward Whiting. Transwestern represented the tenant, Traylor Investments Ozona LLC.
CINCO RANCH, TEXAS — ARA represented TA Associates in the sale of Residences at Cinco Ranch, a 300-unit apartment complex just west of Houston. Cinco Ranch is a master-planned community located near the Westpark Tollway and Grand Parkway. The apartment complex was built in 2009 and was 98 percent occupied at the time of sale.
ODESSA, TEXAS — Cross B Development will soon begin construction on Phase I of Parks Bell Ranch, a master-planned community in north Odessa. Plans call for the development to include 850 acres of commercial and residential space. Single-family and multifamily residential developments will anchor the 500,000-square-foot commercial section, but plans also call for small businesses, corporations, restaurants, hotels, retailers and medical clinics. About 200 acres will be reserved for parks, paved trails and green space. Cross B is owned and operated by the Ellen and Larry Bell family.
GARLAND, TEXAS — Cantrell Co. has brokered the sale of the 77-unit Castleglen Townhomes in Dallas. A California-based investment group bought the homes and assumed a Fannie Mae loan. The property was 97 percent leased at the time of sale and sits on just under nine acres at 1004 Castleglen Drive in Garland, northeast of Dallas. Rents range from $710 per month to $1,030 per month. The seller was Tweden Garland Properties LLC of Austin. The townhomes are a mix of two- and three-bedroom units. The average size of the units is 1,079 square feet and the complex was built between 1973 and 1983. Castleglen sits along the service road of Interstate 30 and is also accessible to I-635. Nearby amenities include Audubon Park, Duck Creek Greenbelt Trail and Town East Mall.
CLEARWATER, FLA. — JE Dunn Construction Co. has been selected to build a new five-story patient and surgical tower at Morton Plant Hospital in Clearwater. The project will feature 230,000 square feet of new construction and 154,400 square feet of renovation. JE Dunn will begin construction on the tower in spring 2015 and will tentatively complete the project in December 2016. The new tower is part of a four-year, $200 million campus transformation program for the hospital, which is a member of BayCare Health System. Gresham Smith and Partners is the architect of record for the project.
JENSEN BEACH, FLA. — CBRE has arranged the $17.3 million sale of Marketplace Square, a 173,292-square-foot retail center located at 3255 N.W. Federal Highway in Jensen Beach. Leon Capital Group purchased the asset from Kimco Realty Corp. The property is 73 percent leased to 20 tenants, including Hobby Lobby, Bank of America, KFC and Sonic. Dennis Carson and Casey Rosen of CBRE represented Kimco in the transaction.
FORT LAUDERDALE, FLA. — HFF has arranged the sale of il Lugano, a 105-suite luxury boutique hotel located at 3333 N.E. 32nd Ave. on the Intracoastal Waterway in Fort Lauderdale. Completed in 2008, the hotel features the da Campo Osteria restaurant, a lobby bar, outdoor event patio, outdoor resort-style pool with a sundeck, 10-slip private marina, fitness center, adjacent water taxi station, private parking garage and approximately 4,000 square feet of meeting space. Max Comess, Daniel Peek, Denny Meikleham, Scott Wadler, Alexandra Lalos and Cecily Nazario of HFF represented the seller, Il Lugano LLC, in the transaction. Il Lugano LLC is owned by the SageCrest Liquidating Trust, which is managed by John Huber, a managing director at SOLIC Capital Advisors. The buyer was an affiliate of Bridgewater, Mass.-based Claremont Cos.
CHARLOTTE, N.C. — SunTrust Bank has expanded its new regional headquarters in the Sharon Square mixed-use development in Charlotte’s SouthPark submarket. SunTrust has expanded its footprint by 19,000 square feet to accommodate the growth in its wholesale banking and private wealth management divisions. Sharon Square is now more than 80 percent leased to tenants such as Whole Foods Market, Corkbuzz Wine Studio and Dogwood Southern Table & Bar. Sharon Square’s ownership, Pappas Properties and Allen Tate Co., inked the lease with SunTrust. The Atlanta-based bank’s regional headquarters is expected to open later this fall.
NEW YORK CITY — Eastern Consolidated has arranged the sale of 1424-1428 Lexington Avenue, a five-story, mixed-use walk-up in Carnegie Hill on the Upper East Side. The 13,520-square-foot corner property sold for $12.6 million. Situated on the northwest corner of Lexington Avenue and East 93rd Street, the property includes an additional 13,881 square feet of unused development rights, which are subject to Landmarks Preservation Commission approval. The building features nine residential units and three ground-floor commercial units occupied by Ottomanelli Brothers Restaurant, Vela Pizzeria and Pet Central. David Kriss of Kriss & Feuerstein LLP was the attorney for the buyer, while Allen Schole of Ellenoff Grossman & Schole LLP provided legal counsel for the seller.