Property Type

USPS SIGNS 8,400 SF LEASE AT 333 E. 14TH ST. IN MANHATTAN

by admin November 18, 2013

NEW YORK CITY — The United States Postal Service has signed an 8,440-square-foot lease at 333 E.14th St. in Manhattan. The branch inked the 10-year sublease for the space, which is located at the base of a residential building on 14th Street and First Avenue. The post office will occupy 6,940 square feet on the ground floor and 1,500 square feet of basement. The post office is relocating from a bigger space at 432 E. 14th St. The Feil Organization holds a long-term ground lease for the retail space. Duane Reade previously occupied the space, which offers 100 feet of frontage on 14th Street. The drugstore chain then moved to a larger location at nearby 245 First Ave. in January. The new post office branch is currently under construction and is slated for completion in the second quarter of 2014.

November 18, 2013

BENTALL KENNEDY BUYS 1.1M SF DISTRIBUTION CENTER

by admin November 18, 2013

HASLET, TEXAS — Bentall Kennedy has acquired a 1.1 million-square-foot distribution center in the Fort Worth suburb of Haslet. The facility, fully leased by Amazon.com for the next 15 years, is located within the 18,000-acre, master-planned AllianceTexas. Hillwood Development Co. sold the property on behalf of an institutional investor. Features include proximity to Westport Parkway, high clear-height ceilings and a high parking ratio.

November 18, 2013

Multifamily Texas

RENOVATION COMPLETE AT AUSTIN MULTIFAMILY PROPERTY

by admin November 18, 2013

AUSTIN, TEXAS — Atlantic | Pacific Cos. has completed the renovation of The Atlantic | Grand Oaks, a multifamily property it owns in Greater Austin. The 240-unit complex, previously known as The Crossing, underwent improvements to the clubhouse, fitness center and unit interiors. The renovation also included the addition of a private, fenced dog park. Located at 9323 Manchaca Road, The Atlantic | Grand Oaks offers units ranging from one to four bedrooms.

November 18, 2013

Industrial Western

CARPENTERS UNION DEBUTS NEWLY EXPANDED TRAINING CENTER IN LAS VEGAS

by admin November 18, 2013

LAS VEGAS – The $43-million expansion of the United Brotherhood of Carpenters (UBC) and Joiners of America International Training Center has been completed in Las Vegas. The facility now includes a 220,000-square-foot building that will provide a variety of training resources for UBC members. The new facility includes shop space, more than 30 classrooms, two large meeting halls, and a display area and museum. The center now boasts a total of 365,000 square feet. The center’s expansion began in September 2012. An opening ceremony is scheduled for early next year. Construction was completed by the PENTA Building Group. Many UBC members, who were trained by the Carpenters International Training Fund, contributed to this project. The center provides in-depth training to regional instructors and union members in the U.S. and Canada. The United Brotherhood of Carpenters contains nearly 500,000 members and more than 200 training centers across North America. The facility originally opened in 2001.

November 18, 2013

Multifamily Western

ECHELON APARTMENTS IN LAKEWOOD RECEIVES $28.5M REFINANCE

by admin November 18, 2013

LAKEWOOD, WASH. – The 254-unit Echelon Apartments in Lakewood has received a $28.5-million refinance. The townhouse-style community is located at 101 88th Street Court SW just southwest of Tacoma. It was built in 2009. The loan was provided by Ed Belz of Berkeley Point. Financing was structured under the FHA 223(a)(7) program, which allows existing, qualifying FHA loans to be refinanced. The property is owned by Lakewood Project, LLC.

November 18, 2013

Retail Western

SINGLE-TENANT, NNN-LEASED ASSET CHANGES HANDS IN FLAGSTAFF

by admin November 18, 2013

FLAGSTAFF, ARIZ. – A single-tenant, triple-net leased asset in Flagstaff has sold to a private investor for $7.2 million. The asset is located at 9147 West Route 66 on 7.52 acres. It is fully leased to Camping World through 2024. The acquisition was part of a 1031 tax-deferred exchange. The private client was represented by Paul Lafrenz and Melissa Foster of CBRE San Diego Commercial Private Capital Group. The Arizona purchase was completed in conjunction with Andrew Fosberg of the CBRE Phoenix Private Capital Group.

November 18, 2013

Multifamily Western

THE POINTE IN VANCOUVER SELLS FOR $39.5M

by admin November 15, 2013

VANCOUVER, WASH. — Kennedy Wilson and its partners have acquired The Pointe, a 388-unit apartment community in Vancouver, for $39.5 million. The community is located at 3708 NE 109th Ave. in the Portland submarket. The seller was not named.

November 15, 2013

Hospitality Western

THE LIGHTHOUSE HOTEL IN PACIFICA CHANGES HANDS

by admin November 15, 2013

PACIFICA, CALIF. – The 97-room Best Western Plus Lighthouse Hotel in Pacifica has changed hands. The hotel is located at 105 Rockaway Beach Ave. just 25 minutes south of Downtown San Francisco. The seller, Invest West Financial Corporation, was represented by Henry Bose and Mark McDermott of CBRE Hotels. The buyer was not named.

November 15, 2013

Office Western

MIG BUYS MOUNTAIN VIEW CORPORATE CENTER IN MURRAY

by admin November 15, 2013

MURRAY, UTAH — MIG Real Estate has purchased the Mountain View Corporate Center, an 84,421-square-foot office building in Murray, for an undisclosed sum. The Class A center is located at 756 and 764 East Winchester Street near Downtown Salt Lake City. It is currently 91 percent leased. Notable tenants include Motorola and Liberty Mutual. Though this is MIG’s first acquisition in Greater Salt Lake, it is the firm’s 18th office investment. MIG is focusing on well-located properties with value-add components. The unnamed seller was represented by Cushman & Wakefield/Commerce Real Estate Solutions.

November 15, 2013

Industrial Southeast

LIBBEY INC. TO INVEST $20M INTO ITS MANUFACTURING SITE IN SHREVEPORT

by admin November 15, 2013

SHREVEPORT, LA. — Toledo, Ohio-based Libbey Inc., a glass tableware manufacturer, has plans to invest $20 million in the firm’s manufacturing site in Shreveport. The investment is expected to generate 70 new direct jobs and 70 indirect jobs, according to Louisiana Economic Development. The investment is expected to focus on glassmaking research and development. Libbey will also retail 511 existing jobs in Shreveport.

November 15, 2013

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