HOUSTON — Peska, a seafood restaurant, will open a 6,000-square-foot store at Phase II of BLVD Place, a new mixed-use development under construction in Houston’s Uptown/Galleria. Ed Wulfe, chairman and CEO of Wulfe & Co., is managing partner of the development. Stockbridge Capital Group of San Francisco serves as equity advisor in the transaction. Peska is owned by the Mexico-based Ysita family, which runs four restaurants in Mexico under the La Trainera brand. BLVD Place is located on the southwest corner of Post Oak Boulevard and San Felipe Street in Houston. The complex is 80 percent leased, with a 52,000-square-foot Whole Foods Market and a 55,000-square-foot regional headquarters for Frost Bank serving as the major tenants.
Property Type
SAN DIEGO — AMN Healthcare Services has renewed its lease for 175,000 square feet of office space in San Diego. The long-term lease renewal is valued at $120 million. The space is located at 12400 High Bluff Drive in Del Mar Heights. The healthcare workforce solutions and staffing services provider has resided at this Class A property since it was constructed in 2003. The company currently houses 800 employees at the center, with room to expand to 1,000 employees. AMN was represented by Douglas Lozier of Savills Studley’s San Diego office. The landlord was Kilroy Realty Corporation.
DENVER – A venture managed by TruAmerica Multifamily has purchased a three-property multifamily portfolio in Colorado and Washington for $229 million. The portfolio contains a total of 1,514 units. The acquisition includes Berkshires at Lowry, located at 240 South Monaco Parkway in Denver; Ponderosa Villas at 1539 South Galena Way in Aurora, Colo.; and Carriages at Fairwood Downs, located at 15030 SE 179th Street in Renton, Wash. TruAmerica and its partners plan to spend between $25 million to $30 million renovating the properties, which were built in the 1970s and ‘80s. The seller, Berkshire Group, was represented by Kevin Geiger and Malcolm McComb of CBRE Capital Markets’ Institutional Properties. Other local CBRE personnel assisted with the Colorado and Washington transactions. CBRE Capital Markets’ Debt & Structured Finance team also secured a $168.8-million loan for the portfolio’s acquisition. The properties received fixed-rate, full-term, interest-only loans ranging from five to seven years.
LOS ANGELES – A trust has disposed of a four-building industrial portfolio that is valued at $5.7 million. The portfolio contains four properties in the Los Angeles area. The transaction includes 11801-11807, 11811 and 11821 Teale Street, along with 11918-11920 Jefferson Blvd. The seller was Richard J. Laski, who acted as a Trustee of the Kaman Estate. The buyer was not named. The trust was represented by Jack Whalen of Heger Industrial.
PORTLAND, ORE. — House Spirits Distillery has leased 14,000 square feet in Portland. The new new distillery and tasting room will be located at 68 SE Stark Street in the city’s Central Eastside Industrial District. The company will occupy the space once the custom build out is completed this November. House Spirits was represented by Cara Nolan of CBRE. The landlord, Harsch Investment Properties, was represented by Todd DeNeffe of Cascade Commercial Real Estate.
SURPRISE, ARIZ. — One Step Beyond has leased 11,800 square feet of space in Surprise. The two-building complex is located at 15527 & 15531 N. Reems Road. One Step Beyond moved into the first building in July. It plans to occupy the second building in March. Tyler Smith of Colliers International represented both One Step Beyond and the landlord, Reems and Greenway LLC, in this transaction.
ARLINGTON, VA. — Skanska USA Commercial Development has sold a five-story, 139,394-square-foot office building located at 1776 Wilson Blvd. in Arlington to an institutional client of Invesco Real Estate for $90 million. The Class A, LEED Platinum-certified property features office space, retail space, a fitness center and a green roof terrace accessible to office tenants. The property is 90 percent leased to tenants such as Skanska, LMO Advertising, National Association of Drug Stores, U.S. Civil Research & Development Foundation, Black & Veatch Corp., Pier 1 Imports and 100 Montaditos. Skanska delivered the project in November 2012.
ST. AUGUSTINE, FLA. — A joint venture between Montgomery Land Co. and Zerga Development has selected general contractor Adolfson & Peterson to build an assisted living and memory care facility in St. Augustine. The 120-unit, multi-story property will be located near the intersection of Lightsey Road and State Road 207. Adolfson & Peterson expects to deliver the facility in the third quarter of 2015.
MEMPHIS, TENN. — PCCP LLC has provided a $25.1 million senior loan for the recapitalization of Memphis Oaks 3, a 1 million-square-foot distribution center located at 3860 E. Holmes Road in Memphis. The property is part of the Memphis Oaks Distribution Center, a 3.8 million-square-foot industrial park. The property is 81.7 percent leased to tenants such as Sharp Electronics, Franklin Sports and GECAS Asset Management, a division of GE. PCCP provided the loan to PDC Memphis Oaks 3 Holdings LLC, which is managed and sponsored by affiliates of Panattoni Development Co., the developer of the Memphis Oaks park. Panattoni will use the loan to recapitalize the existing financing and focus on the lease-up of the property. Cushman & Wakefield advised Panattoni on the financing and is the developer’s leasing agent for Memphis Oaks 3.
ORLANDO, FLA. — Newmark Grubb Knight Frank (NGKF) has arranged the $18.8 million sale of the SunTrust Bank office building located at 200 S. Orange Ave. in downtown Orlando. The 10-story, 128,296-square-foot property is connected to the 35-story SunTrust Tower. Atlanta-based SunTrust Bank has leased the office building since it was first built in 1958. Mark Hillis and Whitney Knoll of NGKF represented the seller, Atlanta-based Columbia Property Trust, in the transaction. The buyer, 200 Orange Realty LP, is comprised of local real estate investors, including Jim Gissy and Ed Wideman. Michael LaPointe, Peter Everett and Daniel Yi of NGKF assisted with the transaction.