NEW YORK CITY — Madison Realty Capital (MRC) has provided a $7.2 million construction loan for a partially complete mixed-use property in Queens. The property is located at 28-18 Astoria Blvd. in the neighborhood of Astoria. Proceeds from the loan will be used to retire outstanding debt and fund the completion of construction for the building. The seven-story, 24,992-square-foot property includes 21,514 square feet of residential, as well as 2,289 square feet of retail space and 1,189 square feet of community space. The final phase of the project includes the construction of 28 one-bedroom units.
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SAN ANTONIO — KeyBank Real Estate Capital has arranged a $32.5 million Fannie Mae loan for the acquisition of Franklin Park at Sonterra, a 202-unit independent and assisted living community in San Antonio. A joint venture between Harrison Street Real Estate Partners IV and Franklin Cos. purchased the property, which was developed by Franklin Development and is operated by a Franklin-affiliated management company. Franklin Cos. currently owns and operates seven seniors housing properties in the Dallas and San Antonio metro areas.
HOUSTON — HFF has brokered the sale of a 57,811-square-foot office building located at 14811 St. Mary’s Lane in Houston’s Energy Corridor submarket. The property, part of a master-planned business park near the intersection of Interstate 10 and Dairy Ashford Road, was 87.7 percent leased at the time of the sale. Dan Miller, senior managing director, led the HFF team that represented the seller, BGK Integrated Group. Mission Equities was the purchaser.
COLLEYVILLE, TEXAS — Baylor Healthcare and Emerus, an emergency facility operator based in The Woodlands, have partnered to bring the first hospital to the city of Colleyville, approximately 18 miles northeast of Fort Worth. Construction has begun on the Baylor-Emerus Emergency Medical Center, which will total 16,719 square feet and includes seven exam room beds and eight inpatient beds. The new hospital, scheduled to open in August 2014, will also provide X-ray, CT scan and ultrasound services.
CARROLLTON, TEXAS — Lee & Associates has arranged an 11,200-square-foot lease for Dallas Label & Packaging in Carrollton, situated about 20 miles north of Dallas. The lease is for industrial space located at 2502-2510 Camp Avenue, which is in close proximity to the interchange of President George Bush Turnpike and Interstate 35. Nathan Denton of Lee & Associates represented the landlord, Marks Property Management, while Rosana Shekman of Dallas Prestige Realty represented the tenant.
LOS ANGELES — Passco Companies has announced that the Promenade at Howard Hughes Center in Los Angeles will undergo a repositioning. The Promenade is located at 6081 Center Drive in the Silicon Beach area of West Los Angeles. Dave & Buster’s and Buffalo Wild Wings are set to open at the center later this year, while Cinemark plans to enhance its recently purchased Rave Cinemas.
CARLSBAD, CALIF. — Drawbridge Realty Trust has purchased Pacific View Corporate Center, an 80,862-square-foot office building in Carlsbad for $22.2 million. The Class A center is located at 5759 Fleet Street in the Carlsbad Ranch area. It is fully leased to Synteract and RF Micro Devices. Drawbridge was represented by Rick Reeder, Joe Anderson and Dennis Visser of Cassidy Turley’s North San Diego office. The seller, TA Realty Associates, was represented by Jeff Cole, Ed Hernandez, Michael Roberts and Brunson Howard of Cushman & Wakefield.
SANTA FE SPRINGS, CALIF. — L.A. Specialty Produce has signed a 270,000-square-foot lease in Santa Fe Springs. The wholesale produce, dairy and specialty foods distributor will expand its headquarters and warehouse operations by 82,000 square feet. The facility is located at 13527 Orden Drive within the Golden Springs Business Park. L.A. Specialty was represented by John McMillan and Jeff Sanita of Cushman & Wakefield. The landlord, Thrifty Oil, an affiliate of Golden Springs Development Co., was represented by Clyde Stauff and Steve Calhoun of Colliers.
MOUNTAIN VIEW, CALIF. – Google has agreed to lease space at the former Mayfield Mall in Mountain View. The mall is currently undergoing a transformation that will turn it into a 500,000-square-foot office campus. Construction on the Class A office complex should be completed in 2014. It is located at 100 Mayfield Ave. in Silicon Valley.The mall was originally built in 1966. Notable tenants included J.C. Penney, Wells Fargo Bank and the Mayfair Market grocery store. The mall is owned by a joint venture between Rockwood Capital, LLC and Four Corners Properties. Kevin Cunningham and Jack Troedson of Cornish & Carey Commercial Newmark Knight Frank represented the landlordin this transaction.
COMMERCE, CALIF. — KTR Capital Partners has purchased a four-property industrial portfolio in Commerce for an undisclosed sum. The 254,000-square-foot portfolio is located along 61st and Randolph streets. The buildings are 85 percent leased to six tenants. The disposition was handled by Mike Sidney, Mike Foley, John McMillan, Jeff Sanita, Jeff Chiate and Jeff Cole of Cushman & Wakefield. The seller was Erwin & Essie Appel Trust.