CLIFTON, N.J. — Cushman & Wakefield has arranged an 11,000-square-foot lease for manufacturing space at 125 Kingsland Ave. in Clifton, N.J. Bonni Heller of Cushman & Wakefield's East Rutherford office represented the tenant, glass manufacturer Pilkington North America Inc., in the long-term lease. The new location is one of nearly 100 Pilkington automotive glass replacement facilities in the U.S. Andrew Somple of NAI James E. Hanson represented the landlord, 1913 Realty Associates.
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IRVING — Chambers Street Properties has acquired Carpenter Corporate Center I and II, a two-building office property totaling 226,822 square feet in the Las Colinas master-planned development of Irving, located 10 miles west of Dallas. The buildings, both leased to a subsidiary of a major healthcare company on a long-term lease, offer an on-site café, fitness center and parking for 1,107 vehicles. With the purchase, Chambers Street now holds three office assets in the Dallas/Fort Worth Metroplex.
HOUSTON — Colliers International has arranged the lease of 26,950 square feet in Houston’s Beltway 8 Office Center to Haven Behavioral Services of Houston LLC. The new facility, which will focus on geriatric psychiatric services, is Haven’s second location in Houston and ninth nationwide. The company is headquartered in Nashville, Tenn. Walter Menuet, L. Ace Schlameus, Laura A. Schlameus, Ryan Byrd and Jenny Seckinger of Colliers represented the landlord in the transaction, while David Boyles and Stan Young of Medical Real Estate Inc. represented the tenant.
KAUFMAN — A new Walmart Supercenter will break ground on Aug. 27 at the Kings Fort community in Kaufman, approximately 33 miles southeast of Dallas. The 158,579-square-foot store will be situated on a 19.1-acre tract purchased by Wal-Mart from Kings Fort developer JWS Land Ltd. The Supercenter will be the first part of the Kings Fort project, which will eventually include $250 million in retail, commercial and residential development. Marks Parks and Kent Stainback of Stainback Organization represented Walmart in the transaction. Jim Meara of The Meara Company represented JWS.
DALLAS — SRS Real Estate Partners has arranged a lease for a new location of the casual dining franchise Bon Chon Chicken in a 4,500-square-foot space at Greenville Avenue and Lovers Lane in Dallas. The restaurant, which specializes in Korean-style fried chicken, joins other area tenants including Michael’s, Baker Brothers American Deli and Genghis Grill. Tyler Isbell and Jason Puig of SRS represented Bon Chon Chicken in the transaction, while Sue Hageman and Doug Howell of Westwood Financial represented the landlord.
PARK CITY, UTAH — Summit Center, an 83,000-square-foot retail and office complex in Park City, has sold to Kai’Ohu Summit for an undisclosed sum. This is Kai’Ohu’s first commercial acquisition in Utah. The six-building center is located at 2700 Rasmussen Road. It is home to tenants like EMC2, iSchool Campus, and CrossFit Park City. The transaction was executed by Bryce Blanchard of Newmark Grubb ACRES.
REDLANDS, CALIF. – A 96,997-square-foot portion of thePavilion at Redlands shopping center has sold to a Chinese private investor for $17.7 million. The portion that sold is located at 2054-1094 Redlands Blvd. This part of the property contains a 52,924-square-foot Food 4 Less, in addition to about 20 smaller retailers, including Payless Shoe Source, Verizon, GameStop, Little Ceasers, Metro PCS, H&R Block and Supercuts. The property is currently 99 percent leased. CBRE’s Dennis Zhang represented the all-cash buyer. The sellerwas an affiliate of Foothill Village Property, LP.
PHOENIX – A four-property, Phoenix-based Walgreens portfolio has sold to an unnamed buyer for $15.9 million. The Arizona properties were part of a larger transaction that included five additional Walgreens and one CVS drugstore located throughout the nation. The drugstores contained a mix of both long- and short-term, double- and triple-net leases. About half of the transactions were off-market deals, according to Ryan Barr and Ryan Bennett of Lee & Associates-North San Diego County’s Barr & Bennett Net Leased Group, who represented the buyer.
LAKEWOOD, COLO. — The Lodge at Denver West has received a $40.5-million mezzanine construction loan. The 252-unit development is located within the Denver West Business Park in Lakewood, which is southwest of Denver. The Lodge will be the final multi-housing phase for the Denver West master-planned development. Upon completion, the 800-acre, mixed-use project will contain about 2 million square feet of office space, nearly 2 million square feet of retail and 575 existing multi-housing units. The Lodge is slated for completion in 2015. The seven-year loan has a fixed interest rate of 5.5 percent with interest-only during the 24-month construction term. It was arranged at 89 percent of cost by HFF’s Wally Reid and Josh Simon on behalf of a joint venture between the Greystone Group and the Stevinson Family.
SCOTTSDALE, ARIZ. – Construction has commenced on the third officebuilding at SkySong,the ASU Scottsdale Innovation Center. The 145,000-square-foot SkySong III will be located alongSkySong Boulevard. ArizonaState University (ASU) will lease one and a half of the building’s four floors.Existing tenant WebFilingswill also expand its presence at the property by leasing a full floor of the new building. Plaza Companies has also signed a lease at SkySong III. With these leases already in place, the new building has reached 65 percent occupancy before construction even began.The $32-million building is being developed by PlazaCompanies in partnershipwith the Arizona StateUniversity Foundation and the City of Scottsdale. Holualoa Companies has also partnered with Plaza Companies on this project. Financing is provided by Alliance Bank ofArizona.