MILWAUKEE — Falk Legal Group has signed a lease for 3,500 square feet of office space at River Bank Plaza in Milwaukee. The property is located at 740 N. Plankinton Ave. John Dulmes and Dan Walsh of Siegel-Gallagher represented the tenant; Tony Stevens of Equity Commercial Real Estate represented the landlord, River Bank Plaza Building, in the transaction. Terms of the lease were not released.
PLAINSBORO, N.J. — Affiliates of Harbor Group International (HGI) have acquired Pheasant Hollow, a 439-unit apartment community in Plainsboro. A partnership of Vantage Group and Angelo Gordon & Co. sold the property, which comprises 28 garden-style buildings, for $62.55 million. HGI plans to invest $3 million in common area improvements and interior upgrades at the property, which will be renamed Addison at Princeton Meadows. Additionally the community recently received a new fitness center, leasing center, signage and improved tennis courts and playground facilities. Jose Cruz of HFF represented the seller in the transaction.
NEW YORK CITY — Massey Knakal has completed the sale of eight elevator-serviced buildings in Brooklyn in an all-cash transaction valued at $78 million or approximately $187 per square foot and $173,000 per unit. The properties total 416,352 square feet and 452 rent-stabilized units. The acquisition includes the 42,000-square-foot 357 Avenue P property (53 rental units), the 50,500-square-foot 79 Brighton 11th Street (59 units), the 117,600-square-foot 125 Brighton 11th Street building (112 units), and the 206,432-square-foot, 228-unit Manhattan Beach Estate, located at 200 and 210 Brighton 15th St. and 211, 1511 and 1521 Brightwater Ave. Alex Svetlakou and Bob Knakal of Massey Knakal brokered the transaction. The buyer and seller were not disclosed.
NEW YORK CITY — Direct Realty has sold 334-336 West 46th Street, along Manhattan’s Restaurant Row. An undisclosed buyer acquired the property for $9.5 million. The property consists of two four-story, mixed-use buildings, including 10 free-market residential units and ground-level commercial space. Additionally, the parcel offers approximately 15,000 square feet of unused development rights. A master lease through January 2015 currently encumbers the residential units, and the lease of the commercial tenant, O’Flaherty’s Ale House Irish Pub, expires in February 2014 with no extension options. David Schechtman and Lipa Lieberman of Eastern Consolidated represented both parties in the transaction.
SOUTH BRUNSWICK, N.J. — L’Occitane en Provence has signed a long-term lease for a Class A warehouse and distribution facility located at 120 Herrod Blvd. in South Brunswick. Forsgate Industrial Partners LP owns the 176,783-square-foot property. Constructed in 1986, the property offers 11,104 square feet of office space, 26-foot ceilings, 16 loading docks and 198 parking spaces. David Knee and Blake Chroman of Jones Lang LaSalle represented the tenant; Catherine Argenio represented the owner in-house.
DALLAS — Developer Cawley Partners and architect BOKA Powell have broken ground on Knoll Trail Plaza, a 120,000-square-foot office building in Dallas. The four-story Class A structure is located at 16400 N. Dallas Parkway and will feature amenities, such as a fitness center, rooftop deck, café and bike racks. The property, designed for LEED Silver certification, is 40 percent pre-leased and will serve as the headquarters of Sundown Energy. Completion is slated for November.
SAN ANTONIO — Blakeley Commercial Real Estate (BCRE) has arranged a 12,446-square-foot medical office lease for the Center for Health Care Services in San Antonio. The tenant will occupy space at Legacy Oaks, a seven-building development located on Fredericksburg Road within the South Texas Medical Complex. Lynn Blakeley of BCRE represented the Center for Health Care Services in the negotiations. Lindsey Tucker and Carl Salvato of CBRE represented the undisclosed landlord.
IRVING, TEXAS — Coldwell Banker Commercial (CBC) Alliance DFW has arranged a 10,525-square-foot office lease for Pegasus Info Tech Inc. in Irving. The larger single-story building, which was acquired and renovated over the past two years by Life Is A Skyway LLC, is located at 3001 N. Skyway Circle and includes 20,090 square feet. The tenant, a software company, will use the space as its new headquarters, relocating from 122 W. John Carpenter Freeway. Bret Messer of CBC Alliance DFW, who oversaw the recent upgrades, will continue to manage the property. Sharon Friedberg and Melanie Hughes of Bradford Commercial Real Estate represented Pegasus in the negotiations.
SAN DIEGO – The 90-unit Waterford Terrace Retirement Community in the San Diego submarket of La Mesa has received $10 million in financing. The independent living facility is located at 5580 Aztec Drive. It is managed by Sunshine Retirement Living. The seven-year, fixed-rate Fannie Mae loan was provided by KeyBank Real Estate Capital on behalf of La Mesa Retirement Residence Limited Partnership.
PORTLAND, ORE. — Clarion Partners, LLC has purchased a 134,000-square-foot distribution warehouse in Portland for an undisclosed sum. The Class A warehouse is located in the Airport Way industrial submarket. It is fully leased.