NEW YORK CITY — In a two-part transaction, Colliers International has arranged the relocation of The Albert Ellis Institute, a nonprofit psychotherapy training institute, from the Upper East Side to Midtown South. In the first transaction, Colliers arranged the sale of The Albert Ellis Institute headquarters, a six-story townhouse located at 45 E. 65th St., to a private buyer. The building is located between Madison and Park avenues. In the second transaction, Colliers arranged an 8,000-square-foot sublease on behalf of the institute at 145 E. 32nd St., a 102,000-square-foot medical office building in Midtown South. Eric Meyer and Marty Meyer of Colliers International Tri-State own the office building. The institute sublet the entire ninth floor from Ameripath, a subsidiary of Quest Diagnostics. Keith Cody of CBRE represented Ameripath in the sublease.
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LOGAN TOWNSHIP, N.J. — Marcus & Millichap has arranged the sale of a new 70,000-square-foot refrigerated food storage and distribution building, located within the LogistiCenter business park at 1155 Commence Blvd. in Logan Township, 12 miles south of Philadelphia. The facility is triple-net leased to Albert's Organics/United Natural Food Inc. John Glass and Scott Pertel of Marcus & Millichap's San Francisco office represented the seller in the transaction. The buyer was a New York-based publicly traded REIT. Michael Fasano of Marcus & Millichap also provided representation in the transaction.
SOUTHLAKE — Forest Park Medical Center Southlake, an $82 million project of Ascension Group Architects and Adolfson & Peterson Construction, has opened with 54 beds and 12 operating rooms. Approximately 25 miles northwest of Dallas, the facility totals three floors and 141,700 square feet. Plans call for an additional 80,000-square-foot attached medical office building as well as Silver LEED certification. LandPlan Development and the Neal Richards Group were the developers of the property, located on the south side of State Highway 114.
LAREDO — Construction firm Brasfield & Gorrie has completed the South Texas Border Intelligence Center, a 7,300-square-foot facility that will provide administrative offices and communication services for about 20 U.S. and Mexican government agencies. The U.S. General Services Administration for U.S. Customs and Border Protection, a division of the Department of Homeland Security, funded the $3.5 million project. Local materials were used in the construction of the building in an effort to reduce shipping and transportation expenses, and sustainable features such as low-flow plumbing fixtures and high solar reflective roof have also been implemented.
KELLER — Capital Square Realty Advisors LLC has acquired a 43,801-square-foot retail property in the northern Fort Worth suburb of Keller. The facility, which currently houses a 24 Hour Fitness Super Sport, is located at 5901 Golden Triangle Boulevard and boasts 239 parking spaces. Constructed in 2008, the location sports amenities such as a full-sized basketball court, group exercise rooms, indoor lap pool, whirlpool, racquetball court and sauna.
DALLAS — Firecrust Neapolitan Pizzeria has signed leases for two new locations in the North Dallas submarket. The restaurants will be located in a 3,000-square-foot space at Knox Promenade Shopping Center and a 2,935-square-foot space at Prestonwood Park in Plano. Firecrust, which offers salads, craft beer and wine in addition to custom, wood-fired pizzas, plans to open five to seven locations in 2014.
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 office building at SkySong, the ASU Scottsdale Innovation Center. The 145,000-square-foot SkySong III will be located along SkySong Boulevard. Arizona State University (ASU) will lease one and a half of the building’s four floors. Existing tenant WebFilings will 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 Plaza Companies in partnership with the Arizona State University Foundation and the City of Scottsdale. Holualoa Companies has also partnered with Plaza Companies on this project. Financing is provided by Alliance Bank of Arizona.
LAKEWOOD, COLO. – The 318-unit Belmar Villas in Lakewood has sold to Seagate Properties for an undisclosed sum. The community is located at 700 S. Reed Court. It was 97 percent occupied at the time of closing. Seagate plans to renovate the property. The unnamed seller was represented by Terrance Hunt, Shane Ozment, Jeff Hawks and Doug Andrews of ARA Colorado.
SANTA CLARA, CALIF. – The 1,000-unit Mansion Grove in Santa Clara has received $188 million in first-mortgage refinancing. The community is located at 502 Mansion Park Drive. It was 98 percent leased at the time of closing. Financing was based on a 10-year term and a 30-year amortization schedule.Jeffrey Weidell, Nate Prouty and Andrew Slaton of NorthMarq Capital’s San Francisco regional office arranged the financing on behalf of an affiliate of Prometheus Real Estate Group. It was arranged through the firm’s relationship with Teachers Insurance and Annuity Association of America (TIAA-CREF) and Allstate Life Insurance Company.