Property Type

GERSON LEHRMAN TO MOVE HQ TO ONE GRAND CENTRAL PLACE

by admin September 4, 2013

NEW YORK CITY — Gerson Lehrman Group (GLG), a membership-based network for professional learning and expertise, has leased 64,361 square feet at One Grand Central Place in New York City. GLG is moving its global headquarters to the entire third floor and part of the fourth floor of the office building located at 60 E. 42nd St.With this move, slated for the third quarter of 2014, GLG will join staff from two locations — 850 Third Ave. and 845 Third Ave. Clive Wilkinson Architects will design the new space. Gary Kamenetsky and Robert Meyers of CBRE represented GLG in the lease negotiations. William Cohen and Ryan Kass of Newmark Grubb Knight Frank represented the landlord, W&H Properties.

September 4, 2013

PHYSICIANS REALTY TRUST MAKES $40M SALE-LEASEBACK PLAY IN EL PASO

by admin September 4, 2013

EL PASO, TEXAS — In a $40 million sale-leaseback transaction, REIT Physicians Realty Trust (NYSE: DOC) has acquired a 77,000-square-foot hospital and 40,000-square-foot medical office building in El Paso. The facilities are occupied by Foundation Surgical Hospital, which as part of the deal signed a new 15-year, absolute net lease for the hospital and a new five-year, triple net lease for the office building. Foundation Surgical Hospital is a joint venture owned by more than 60 physicians and Foundation Surgical Hospital Affiliates LLC, which is a wholly owned subsidiary of Graymark Healthcare Inc.

September 4, 2013

Office Texas

IDI TO EXPAND GREENSPOINT BUSINESS CENTER IN HOUSTON TO 757,250 SF

by admin September 4, 2013

HOUSTON — IDI, an Atlanta-based industrial real estate company, will expand Houston’s Greenspoint Business Center to a total of 757,250 square feet with the construction of two new buildings. The 106,700-square-foot Building C and 244,550-square-foot Building E will join the existing Buildings A, B and D, which were collectively 93 percent occupied at the time of sale. The complex, located along Interstate 45 south of the intersection with Beltway 8, is in close proximity to George Bush Intercontinental Airport.

September 4, 2013

Hospitality Texas

TERRA CAPITAL PARTNERS ARRANGES $8.8M MEZZANINE LOAN FOR HOTEL ACQUISITION

by admin September 4, 2013

FORTH WORTH, TEXAS — Terra Capital Partners has arranged $8.8 million in financing for the purchase of the Fort Worth Sheraton Hotel & Spa. The three-year mezzanine loan is part of a $58 million capital stack that allowed borrower Presidio Cos. to buy the property out of bankruptcy. Terra, which is based in New York, has originated more than 250 debt and equity investments since 2002. The 431-room Fort Worth Sheraton Hotel & Spa is a full-service hotel located in close proximity to the city’s convention center.

September 4, 2013

Retail Texas

QUANTUM BROKERS SALE OF FAMILY DOLLAR BUILDING IN WILBURTON, OKLA.

by admin September 4, 2013

WILBURTON, OKLA. — Quantum Real Estate Advisors has brokered the sale of an 8,000-square-foot build-to-suit retail building leased to Family Dollar in Wilburton, approximately 120 miles south of Tulsa. At the time of sale, the tenant had nine years remaining on an initial 10-year, double net lease. Quantum’s Jordan Kaufman represented the seller, a private developer based in Houston, and the buyer, a private 1031 tax-deferred exchange buyer from California.

September 4, 2013

Hospitality Western

PEBBLEBROOK HOTEL TRUST BUYS HOTEL MODERA IN PORTLAND FOR $47.5M

by admin September 4, 2013

PORTLAND, ORE. — Pebblebrook Hotel Trust has purchased the 174-room Hotel Modera in Portland for $47.5 million. The hotel is located at 515 SW Clay Street. It was originally built in 1962 and underwent a $13-million renovation in 2008. The seller, Posh Ventures LLC, was represented by Paramount Lodging Advisors in this transaction.

September 4, 2013

Office Western

KENNEDY WILSON ACQUIRES NORTH HOLLYWOOD OFFICE BUILDING

by admin September 4, 2013

NORTH HOLLYWOOD, CALIF. – Kennedy Wilson and one of its partners have acquired a 188,366-square-foot office building in North Hollywood for $45 million. The Class A office building is located at 5161 Lankershim Blvd. The buyer plans to execute a series of enhancements at the property before marketing it to the technology, entertainment and media industries that are common throughout this Los Angeles submarket. Pacific Western Bank provided $30 million in financing for this transaction.

September 4, 2013

Multifamily Western

DENVER’S RIVERFRONT PARK TO RECEIVE NEW HIGH-RISE RESIDENTIAL TOWER

by admin September 4, 2013

DENVER — PM Realty Group has announced its plans for a 288-unit, high-rise apartment tower in Denver. The community will be located at 2166 15th Street where the Platte River meets Cherry Creek in Riverfront Park. The tower is being developed in partnership with National Real Estate Advisors and Ray Suppa. Its ground floor will feature restaurant and retail space. Construction will commence in fall 2013. Once completed in fall 2015, it will be the tallest structure in Riverfront Park. The joint venture equity was arranged by HFF’s Rob Rizzi, Colin Oberg, Josh Simon, Jordan Robbins and Jake Young. Newmark Grubb Knight Frank brokered the 50,000-square-foot parcel of land. The firm’s Stephen Roesinger and Wade Fletcher assisted both parties in this transaction.

September 4, 2013

Industrial Western

BROADWAY INDUSTRIAL PORTFOLIO IN TEMPE SELLS FOR $22M

by admin September 3, 2013

TEMPE, ARIZ. — DCT Industrial Trusthas purchased Broadway Industrial Portfolio, a three-building, 308,038-square-foot portfolio in Tempe, for $22 million. The acquisition includes an 110,000-square-foot building at 1005 W. Alameda Drive; a 96,437-square-foot building at 2910 S. Hardy Drive; and a 101,601-square-foot building at 2925 S. Roosevelt Street.All three buildings are Class A, institutional-quality properties that offer manufacturing, distribution and office space. Notable tenants include United Stationers Supply Co., ACI Plastics, Misty Mate and Triumph Group. Pat Harlan,Steve Sayreand Kyle Westfallof Jones Lang LaSalle will handle the portfolio’s leasing efforts.

September 3, 2013

Industrial Western

TAHOE RENO INDUSTRIAL CENTER PROPERTY SELLS FOR $11.5M

by admin September 3, 2013

RENO, NEV. — Ardagh Group has purchased a 330,000-square-foot, Class A manufacturing facility in the Tahoe Reno Industrial Center for $11.5 million. The property is located at 900 Waltham Way in McCarran, which is just east of Reno. The acquisition also includes two 18-acre parcels on the east and west sides of the building that can be used for future expansion.The glass and metal packaging solutions company will invest $20 million to retrofit the new facility. It hopes to begin production in January 2014. Ardagh was represented by Dave Simonsen, J. Michael Hoeck and Michael Nevis of the NAI Industrial Properties Team. The seller was not named.

September 3, 2013

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