Property Type

FANTINI & GORGA ARRANGES $12 MILLION FOR MIXED-USE PROJECT

by admin April 25, 2014

ATTLEBORO, MASS. — Fantini & Gorga has arranged a $12 million financing package for the development of Renaissance Station in Attleboro. Located at the corner of Wall and Main streets, the transit-oriented, mixed-use development will include a six-story residential tower with 80 apartments on five floors and a first-floor commercial space. The residential tower will feature a mix of modified loft-style apartments with one- and two-bedrooms, common rooms and a fitness center. The project is slated for completion in spring 2015. The borrower is Renaissance Station LLC, an affiliate of Crugnale Properties LLC. RESKON Group is serving as project manager and Annino Inc. is providing architectural services.

April 25, 2014

FIRST BUILDING AT RIVERBEND EAST OPENS IN WAPPINGERS FALLS, N.Y.

by admin April 25, 2014

WAPPINGERS FALLS, N.Y. — Sterling Properties has opened the first building, featuring 27 apartment units, at RiverBend East at Wappingers Falls, a multifamily community in Wappingers Falls. Located minutes from the original RiverBend at Wappingers Falls, the property will offer 54 one- and two-bedroom apartments featuring nine-foot ceilings, designer kitchens, ceramic bathrooms, one-car garages, balconies and an in-unit washer/dryer. Additionally, the community will feature a clubroom, fitness studio and an outdoor pool.

April 25, 2014

Multifamily Northeast

27-UNIT APARTMENT COMPLEX SELLS FOR $4.3 MILLION IN WESTWOOD, N.J.

by admin April 25, 2014

WESTWOOD, N.J. — Gebroe-Hammer Associates has arranged the $4.3 million sale of a two-building multifamily community in Westwood. Located at 542-544 Fourth Ave., the three-story, 27-unit complex offers a mix of apartments, including one studio, 23 one-bedroom and three two-bedroom layouts. The property traded for approximately $160,000 per unit. Ken Uranowitz, Greg Pine and Nicholas Nicolaou of Gebroe-Hammer represented the undisclosed seller in the transaction. The buyer was also not disclosed.

April 25, 2014

Multifamily Texas

CBRE BROKERS SALE OF 659-UNIT APARTMENT COMPLEX IN HOUSTON

by admin April 25, 2014

HOUSTON — CBRE has brokered the sale of Gessner Estates, a 659-unit apartment property in Houston. The community offers one- and two-bedroom apartments in flat and townhome formats, as well as amenities including three swimming pools, a clubhouse, business center and picnic area. Located at 8701 Town Park Drive, the complex is in proximity to the city’s Westchase district and the major thoroughfares of Beltway 8, State Highway 59 and the Westpark Tollway. Ryan Epstein of CBRE represented the seller, RB Associates LLC, in the transaction. Phoenix-based investment firm Jevan Capital PLLC, in association with Comunidad Realty Partners, purchased the asset.

April 25, 2014

Office Texas

NEW 95,000 SF OFFICE BUILDING COMING TO RESEARCH FOREST IN THE WOODLANDS

by admin April 25, 2014

THE WOODLANDS, TEXAS — The Howard Hughes Corporation and its subsidiary, The Woodlands Development Company, will develop a new 95,000-square-foot office building within the Research Forest complex. Kiewit Energy Group Inc., a provider of engineering, procurement and construction services to the oil and gas industries, has pre-leased 70,561 square feet of space in the four-story structure, which will be located on 11 acres at 3831 Technology Forest Drive. Houston-based EE Reed will serve as general contractor on the project, and PGAL is the architect. Louie Crapitto of JLL represented Kiewit in the lease negotiations, while Robert Parsley and Norman Munoz of Colliers International represented The Woodlands Development Company.

April 25, 2014

Restaurant Texas

AMREIT LEASES 7,000 SF TO EL TIEMPO CANTINA AT WOODLAKE SQUARE IN HOUSTON

by admin April 25, 2014

HOUSTON — AmREIT has leased a 7,000-square-foot outparcel at the Woodlake Square shopping center in Houston to Tex-Mex restaurant El Tiempo Cantina. A joint venture between AmREIT and AEW Capital Management acquired Woodlake Square in 2010 and completed redevelopment of the property, which is anchored by Randalls Lifestyle, in 2012. AmREIT purchased the shopping center from the joint venture in September 2013. With El Tiempo Cantina’s lease, the property is now 97.3 percent leased.

April 25, 2014

Office Western

LINKEDIN LEASES 222 SECOND STREET OFFICE BUILDING IN SAN FRANCISCO

by admin April 25, 2014

SAN FRANCISCO – LinkedIn has signed a lease for a 450,000-square-foot office building in San Francisco that is currently under construction. The 26-story building is located at 222 Second Street. It will be ready for occupancy in early 2016. The world’s largest online professional network is headquartered in nearby Mountain View, though it has been steadily increasing its presence in San Francisco. LinkedIn currently occupies 135,000 square feet at One Montgomery Tower. It will soon occupy 87,000 square feet at 505 Howard Street as well. The new office building is being designed for LEED-Gold certification. It will include 8,500 square feet of public space. The space is owned by Tishman Speyer.

April 25, 2014

Mixed-Use Western

BRE COMPLETES CONSTRUCTION ON $105M MIXED-USE PROJECT IN LA

by admin April 25, 2014

LOS ANGELES — BRE Properties has completed construction on the $105-million Wilshire La Brea mixed-use development in Los Angeles. The 800,000-square-foot project includes 478 residential units atop 39,000 square feet of retail. The Art Deco retail component is called The Square at Wilshire La Brea. Wilshire La Brea is located at the intersection of Wilshire Boulevard and La Brea Avenue in the Mid-City neighborhood. Residential amenities include two fitness centers, a mezzanine with a wet bar and deck, two swimming pools with massage spas, a club room, a sundeck and rooftop skydeck with fireplaces and barbeque grills, and a game room with televisions, poker tables and shuffleboard. The 3.38-acre site was previously occupied by an abandoned bank building that had been converted to a Korean church. This was one of the first projects to take advantage of Los Angeles’ new planning policy, which allows obsolete structures to be replaced, thereby encouraging higher-density projects in the city’s urban infill areas. The project is targeting LEED-Silver certification. It was built by Bernards and designed by TCA Architects.

April 25, 2014

Office Western

TESLA MOTORS LEASES INDUSTRIAL FACILITY IN WEST SAN JOAQUIN COUNTY

by admin April 25, 2014

LATHROP, CALIF. – Tesla Motors has signed a lease for a 430,000-square-foot facility in Lathrop. The facility is located at 18260 Harlan Road, about 10 miles south of Stockton, in west San Joaquin County. The facility was previously occupied by a parts distribution center for Chrysler, which closed in 2009, according to reports.

April 25, 2014

Office Western

COMMUNITY TOWERS IN SAN JOSE SELLS FOR $40M

by admin April 25, 2014

SAN JOSE, CALIF. — Swift Realty Partnershas acquired Community Towers, a 309,235-square-foot office complex in downtown San Jose, for $40 million. The transit-oriented complex is located at 111 West St. John Street & 111 North Market Street. It is situated next to San Pedro Square, near San Jose’s SAP Center. Community Towers was originally built in 1963 and 1965. It underwent a renovation from 2007 to 2008. It is currently 94 percent leased to tenants like Kerio Technologies, Anatomage, Rockwell Automation and Sunwize. HFF’s Steven Golubchik, Nicholas Bicardo and John Simerlein represented the seller, the Canadian Imperial Bank of Commerce, in this transaction.

April 25, 2014

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