BELVIDERE,ILL. — Technical Maintenance Inc. (TMI) has signed a 6,400-square-foot lease at 3248-3250 Forest View in Belvidere, located about 13 miles east of Rockford, Ill. TMI is a full-service laboratory that calibrates and repairs test and measurement equipment. The company is adding its Rockford office to service its customers in Chicago and the surrounding areas. AJFC Inc. is the landlord. Karen Walsh, vice president at CBRE, represented TMI in the transaction.
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SADDLE BROOK, N.J. — CBRE Group Inc. has arranged $38 million in refinancing for a fully leased office building in Parsippany. James Gunning, Donna Falzarano and Evan Kleppe of CBRE secured a 10-year loan at a 5 percent interest rate through Relius Financial on behalf of the borrower, Jeffroad Green LLC. The loan was secured by a 206,155-square-foot suburban office building located at 399 Jefferson Road.
NEW YORK CITY — Eastern Consolidated has arranged the sale of 17 East 47th Street in New York City for $18 million. The Center for Fiction — which has owned and operated out of the historic library since 1933 — sold the eight-story building to Sun Acre's LLC. Steven Zimmerman, associate director, Marion Jones, director, and David Schechtman, principal and executive managing director of Eastern Consolidated, represented the seller and procured the buyer. Designed by architect Henry Otis Chapman, the white marble structure features frontage along the north side of East 47th Street between Fifth and Madison avenues. The Center for Fiction signed a short-term, lease-back arrangement with the new owner to remain in the space as the nonprofit looks to purchase a new headquarters space. Brad Lavender of Haynes and Boone LLP was the attorney for the seller. Russell Guba was the attorney for the buyer.
NEW YORK CITY — Avant Capital Partners has originated a $3.1 million bridge loan secured by a 25- by 100-foot lot located at 308 E. 59th St. in the Sutton Place neighborhood of New York City. The interest-only, one-year loan carries an interest rate of 10 percent, refinances the first mortgage and provides predevelopment funding for the project sponsor. The borrower plans to begin a condo development on the property, which includes 27,500 square feet of air rights.
LIVINGSTON, N.J. — A new five-story parking garage is nearing completion at Eisenhower Corporate Campus and Conference Center in Livingston. The new structure will provide 600 additional parking spaces for tenants and guests at the 380,000-square-foot, Class A office complex. Eastman Cos. and its joint venture partner Long Wharf Real Estate Partners owns and manages Eisenhower Corporate Campus. The new parking structure will offer LED lighting and enhanced security features, according to Michael Schofel, co-managing partner at Eastman Cos.
BOSTON — Growing freight shipping and delivery services firm Skema Courier Inc., has leased 13,947 square feet of warehouse and office space at 370 McClellan Highway in East Boston. Richard McKinnon, director of brokerage services for The Grossman Cos. Inc., represented the owner, 370 McClellan Highway LLC, in the transaction. Steve Nohrden, vice president of Burgess Properties, represented the tenant. Skema relocated from its long-time Chelsea facility to take up residence at one of the closest air freight facilities to Boston’s Logan International Airport.
DESOTO, TEXAS — Colliers International has brokered the sale of Pecan Crossing, a 236-unit multifamily complex in the Dallas suburb of Desoto. Located at 1225 E. Pleasant Run Road and in close proximity to I-35, the property offers one- to three-bedroom apartments plus tennis courts and two swimming pools. Bob Helterbran, Mark Freeman, Teresa Lowery and Jeff Sherman of Colliers represented the seller, Pecan Crossing Apartments LLC, in the transaction. A Japanese private investor purchased the asset and is planning minor renovations in the coming year.
HOUSTON — Real estate firm Intergroup Cos. has brokered the sale of the 182-room Hilton Garden Inn Houston/Galleria Area. The hotel, which opened in 2005, offers shuttle service and complimentary high-speed internet, as well as a business center, fitness center, ballroom and swimming pool. The property is located at 3201 Sage Road, in proximity to the interchange of I-610 and the Southwest Freeway. Tandy Lofland of Intergroup represented the seller, Houston-based American Liberty Hospitality. An affiliate of Summit Hotel Properties purchased the asset, and American Liberty will continue to manage the hotel.
AUSTIN, TEXAS — Investment firm CIM Group and Seaholm Power LLC have leased 103,000 square feet of office space at the Seaholm Power Plant in Austin to athenahealth. The tenant, a provider of cloud-based services for the healthcare industry, will fully occupy the office portion of the property, which is being repurposed as part of a mixed-use development. Renovations to the space for athenahealth are slated for completion in mid-2014, with construction of additional elements of the project extending into 2015. The Seaholm Power Plant redevelopment site is bounded by Cesar Chavez Street, West Avenue, 3rd Street and the A&NW rail line in downtown Austin.
THE WOODLANDS, TEXAS — Crust Pizza Co., a restaurant concept developed in The Woodlands, will open at Creekside Park Village Center, a mixed-use development of The Howard Hughes Corporation and The Woodlands Development Company. The pizzeria will occupy a 2,500-square-foot space along the complex’s Village Green, which includes a tree-lined park, walkways and water feature. The new location will be Crust Pizza’s third in The Woodlands. Opening is slated for this fall. Mark Raines of CBRE represented Crust Pizza in the lease negotiations, while Rip Reynolds of The Howard Hughes Corporation represented The Woodlands Development Company.