Property Type

CONTEGRA COMPLETES $6M EXPANSION OF RESEARCH CENTER IN ALTON

by admin December 5, 2013

ALTON, ILL. — Contegra Construction has completed the two-phase, $6 million expansion of the Scientists at the National Great Rivers Research and Education Center in Alton, which is located about 15 miles north of St. Louis. Formed by Lewis and Clark Community College and The University of Illinois, the center’s staff studies major rivers, their watersheds and the human communities that depend upon and impact them. Phase I of the project included three pairs of concrete mesocosm raceways, which pump at total of four million gallons of water and plankton a day from the Mississippi River. The mesocosm raceways, each of which is 75 feet long and 6 feet wide, enable researchers to predict effects on river fish populations and develop conservation strategies. Phase II included a 4,800-square-foot addition that features offices, conference space and two laboratories.

December 5, 2013

SWEDISH RETAILER IKEA PLANS TO OPEN ST. LOUIS STORE IN FALL 2015

by admin December 5, 2013

ST. LOUIS — IKEA, an international home furnishings retailer, has submitted plans to the City of St. Louis for a store that would increase the Swedish retailer’s presence in the Midwest. Slated to open in 2015, the 380,000-square-foot proposed IKEA store would be built along the northern side of I-64 near the Vandeventer Avenue exit. The store would also feature approximately 1,250 parking spaces. Currently, the closest IKEA stores are located in Bolingbrook and Schaumburg, Ill. A Kansas City-area store is currently under construction and on track to open in fall 2014.

December 5, 2013

Multifamily Northeast

MASSEY KNAKAL ARRANGES $45M SALE OF NYC MULTIFAMILY PORTFOLIO

by admin December 5, 2013

NEW YORK CITY — The Boulevard Heights Portfolio, which includes four multifamily buildings located in Manhattan’s West Harlem and Washington Heights neighborhoods, sold for $45 million. The properties are located at 3489 Broadway, 519 W. 143rd St., 610 W. 163rd St., and 548 W. 164th St. The four buildings total 205 units and span approximately 242,740 square feet. A private investor purchased the portfolio. Bob Knakal, Robert Shapiro and Josh Lipton of Massey Knakal arranged the transaction.

December 5, 2013

Multifamily Northeast

ROCKROSE OPENS 709-UNIT MULTIFAMILY COMPLEX IN QUEENS

by admin December 5, 2013

NEW YORK CITY — Rockrose Development Corp. has opened Linc LIC, its new luxury multifamily complex in the Long Island City neighborhood of Queens. Linc LIC features 709 apartments ranging from 450-square-foot studios to 1,400-square-foot, three-bedroom units. The tower’s centerpiece is a duplex lounge on the 31st floor, which opens onto a landscaped lawn with panoramic views of the Manhattan skyline. Linc LIC’s rooftop amenities include barbeque grills, misting sprays and a gazebo, in addition to a separate outdoor resident park. Units include oversized windows in the living areas, granite-clad kitchens and stainless steel appliances. Monthly rents begin at $2,215 for a studio to $4,755 for a three-bedroom unit. Avinash K. Malhorta Architects designed Linc LIC, while Moed de Armas & Shannon Architects designed the interiors. Mathews Nielson was the landscape architect.

December 5, 2013

Northeast Office

NORDBLOM ACQUIRES OFFICE BUILDING IN METRO BOSTON FOR $25.8M

by admin December 5, 2013

BURLINGTON, MASS. — Nordblom Co. has acquired the former Palomar Medical Technologies world headquarters at 15 Network Drive in Burlington, a northwest suburb of Boston. Nordblom, in conjunction with its partner, Network Drive Owner LLC, purchased the 130,000-square-foot building for $25.8 million from Cynosure Inc. The acquisition of 15 Network Drive brings the entire 158-acre campus of Network Drive at Northwest Park under single ownership. Cynosure, a manufacturer of cosmetic, aesthetic and medical lasers, will continue to lease the building through June 2014. Matt Pullen, executive director, Rob Griffin, president, Mike Frisoli, executive vice president, and Ed Maher, vice chairman at Cushman & Wakefield, represented the seller in the transaction.

December 5, 2013

Industrial Northeast

IEP TECHNOLOGIES SIGNS 32,400 SF LEASE IN MARLBOROUGH

by admin December 5, 2013

MARLBOROUGH, MASS. — IEP Technologies has signed a new lease for 32,400 square feet at 417 South St. in Marlborough, located about 30 miles west of Boston. IEP Technologies leased the space for the manufacturing and assembling operations of explosion protection components. Garrett Quinn of Parsons Commercial Group Inc. represented IEP Technologies in the transaction. CBRE represented the building’s owner, Calare Properties.

December 5, 2013

Retail Texas

HFF BROKERS SALE, SECURES FINANCING FOR 412,645 SF RETAIL CENTER

by admin December 5, 2013

HARKER HEIGHTS, TEXAS — HFF has arranged the sale of and acquisition financing for Market Heights, a 412,645-square-foot retail power center in Harker Heights, a suburb of Killeen. The property, which was completed in 2007, is anchored by Ross Dress for Less, Dick’s Sporting Goods, Bed Bath & Beyond, Barnes & Noble, Cinemark, Old Navy, ULTA and Petco. Market Heights is shadow-anchored by Target. Located at 201 E. Central Expressway, the asset offers proximity to State Highway 190, as well as the nearby cities of Fort Hood and Temple. HFF both represented the seller, Direct Development, and secured the buyer, Cole Credit Property Trust IV. Kevin MacKenzie and Adam Herrin of HFF led the team that arranged the acquisition financing through Bank of America Merrill Lynch.

December 5, 2013

Office Texas

DRAWBRIDGE REALTY BUYS AUSTIN OFFICE ASSET FOR $16.9M

by admin December 5, 2013

AUSTIN, TEXAS — Drawbridge Realty Trust has acquired the 76,910-square-foot Stonecreek Park, an office asset in Austin, for $16.9 million. The two-story, Class A property is located in the Northwest Corridor submarket at 3300 Duval Road, in proximity to the MoPac Expressway and Interstate 35, and was completed in 2000. Amenities include underground parking. Myriad Genetics Inc., a molecular device producer serving the healthcare industry, anchors the facility. Lionstone Group arranged the acquisition financing.

December 5, 2013

Multifamily Texas

ADVENIR ACQUIRES 256-UNIT MANSFIELD APARTMENT COMPLEX

by admin December 5, 2013

MANSFIELD, TEXAS — Full-service real estate company Advenir has acquired Advenir@Walnut Creek, a 256-unit multifamily community in the Dallas/Fort Worth suburb of Mansfield. The property is located at 3251 Matlock Road. Completed in 2002 and formerly known as Spyglass, the complex offers one-, two- and three-bedroom floor plans plus communal amenities such as a swimming pool, fitness center, business center and media room. Fifty units have undergone interior improvements since May 2013, and the new ownership plans to upgrade the remainder of the units by 2015. Advenir represented itself in the transaction, while Drew Kile and Will Balthrope of Institutional Property Advisors represented the seller, Kaplan Management Co. Braden Harmon of Berkeley Point Capital arranged the acquisition financing.

December 5, 2013

Office Texas

GEICO LEASES 135,000 SF OFFICE BUILDING IN KATY

by admin December 5, 2013

KATY, TEXAS — Developer Myers, Crow & Saviers Ltd. has leased the 135,000-square-foot Mason Creek Office Center I in the Houston suburb of Katy to Geico. Completed in July, the building is located at 21420 Merchants Way. Griff Bandy and Jon Silberman of NAI Houston represented the tenant in the negotiations, while Bob Cromwell and Kevin Nolan of Moody Rambin and Mark Saviers of Myers, Crow & Saviers represented the developer. With this lease, Myers, Crow & Saviers announces the construction of the 129,600-square-foot Mason Creek Office Center II, set to begin in March.

December 5, 2013

Newer Posts

Older Posts