NEW YORK CITY — Delshah Capital has refinanced its existing debt on 1356 First Ave., located in New York City’s Upper East Side, for $11.5 million. The 20,000-square-foot property offers 26 one-bedroom condominium units and one retail unit. Petaluma, the Italian restaurant retail tenant, is being completely renovated and will reopen in this fall with C.J. Bivona as chef. Santander Bank originated the loan, which features a 4.05 percent interest rate with a 7-year term. Simon Rosenfeld of Meridian Capital Group represented both sides in the transaction.
Property Type
HOUSTON — HFF has brokered the sale of a three-property multifamily portfolio in Houston. The properties include the 192-unit El Mundo Park, located at 8300 El Mundo St.; the 66-unit Plaza del Oro, located at 2700 Holly Hall St.; and the 212-unit San Marin, located at 8181 El Mundo St. Combined, the complexes’ 470 apartments were 96 percent leased at the time of the sale. All three communities are situated within two miles of the Texas Medical Center. Todd Stewart, Todd Marix, Chris Curry and Tre Banks of HFF marketed the portfolio on behalf of the seller, LeCesse Development Corp. Entities owned by JMG Realty Inc. purchased the assets.
FARMERS BRANCH, TEXAS — Cassidy Turley has arranged a 30,000-square-foot industrial lease in the Dallas/Fort Worth suburb for PIRCH Inc., a provider of kitchen, bath, laundry and homeware products. The tenant will occupy distribution center space at 4521 Simonton Road, in proximity to the NorthPark Mall project, which is the future site of a PIRCH showroom. The warehouse facility, situated near the interchange of I-635 and the Dallas North Tollway, features 2,000 square feet of office space and four dock-high doors. Blake Anderson, David Eseke and Tom van Betten of Cassidy Turley represented PIRCH in the negotiations. Peter Yates of Lincoln Property Co. represented the landlord, The Realty Associates Fund.
HOUSTON — NAI Houston has brokered the sale of a 14,000-square-foot industrial building in Houston. The facility is located on a 1.6-acre parcel at 3741 Trailmobile Drive, in proximity to I-610. Chris Caudill of NAI Houston represented the seller, Patrick Walton, in the transaction. Reese Brown of Miramont Interests LC represented the buyer, Phillip Collins.
SAN FRANCISCO – The 106,777-square-foot commercial property in San Francisco that serves as the broadcast and office base of KRON Channel 4 television has sold to a partnership between South Beach Partners and Oryx Partners. The price was not disclosed. The space is located at 1001 Van Ness. KRON has occupied the building since 1967. The station will be relocating to a new facility in North Waterfront later this year, which will allow the new owners to redevelop the property. The seller, Media General, was represented by Daniel Cressman, Mike Taquino and Kyle Kovac of Newmark Knight Frank Cornish & Carey Commercial.
KENNEWICK, WASH. – The 61-room Red Lion Inn & Suites in Kennewick has sold to an unnamed buyer for $4.5 million. The hotel is located at 602 N. Young Street, near the Three Rivers Convention Center. The seller, Sandhu NW Hospitality, was represented by Joseph P. Kennedy of Crystal Investment Property (CIP). CIP is a member of Hotel Brokers International.
LAKE OSWEGO, ORE. – Lake Oswego Crossing, a 10,782-square-foot medical office building, has sold to Dr. Mo Saleh for $2.3 million. The building is located at 17437 SW Boones Ferry Road in Lake Oswego. It will be converted into a dental clinic. The sellers, Kalberer Company and Kalberer Properties, were represented by Jennifer Medak, John Medak and Alexandra Ionescu of NAI Norris, Beggs & Simpson.
SAN DIEGO — Real Office Centers (ROC) has leased 20,319 square feet of office space in San Diego. The Class A space is located at 101 Broadway. It is slated to open this September. The shared office space provider was represented by Voit’s Doug Killian. The landlord is the Irvine Company.
PHOENIX — Coldwater Plaza, a 10,017-square-foot shopping center in Avondale, has sold to Sparty Holdings for $2 million. The plaza is located at 1461 North Dysart Road, just west of Scottsdale. It is fully leased to tenants like Pacific Seafood Buffet, Cricket Wireless, Hire Source Staffing and Checkmate Loans. Sparty was represented by Ken Gatt of Evergreen. The seller, a partnership between North Dysart SG LLC and Coldwater Dysart Partners LLC, was represented by Joseph Compagno, Steve Julius and Jesse Goldsmith with CBRE’s Phoenix office.
MIAMI — Melo Group plans to develop Melody, a 36-story multifamily high-rise tower in Miami’s Arts & Entertainment District. The tower will be located at 245 N.E. 14th St., adjacent to the Adrienne Arsht Center for the Performing Arts. Melody will feature 497 luxury apartments and 8,500 square feet of ground-floor restaurant and retail space. The property will feature a fitness center, sauna, covered parking and a lounge area for residents. Construction on the project is slated to begin in June and wrap up in May 2015. The high-rise tower will be located within walking distance of the Metrorail, Miami Trolley and Metromover.