LENEXA, KAN. — Darland Construction Co. has begun construction on the new Renner 89 @ City Center Lenexa, a 20,000-square-foot mixed-use complex in suburban Kansas City. The two-story development will feature retail and restaurant space on the first floor, while the second floor will include a conference center and meeting rooms for global enterprise software provider Perceptive Software. Kansas City-based Copaken Brooks is the developer, and Klover Architects is providing design services.
MENDOTA HEIGHTS, MINN. — The Opus Group has completed the new 96,000-square-foot student activities center for Saint Thomas Academy in Mendota Heights, a southeast suburb of Minneapolis. Named Vincent J. Flynn Hall, the new facility provides spaces for art and music, academics and athletics. The athletics areas include a competition gymnasium seating more than 1,300 and an auxiliary gymnasium. The facility also features a large meeting room, health education classrooms, weight room, locker room and office space for coaches and physical education instructors. A two-story structure connects the new athletic facility to the school’s existing main building and includes a main entrance and lobby, classrooms and a school bookstore on the ground level. The upper level houses fine arts space with a band and choir suite, and a new art and multimedia room. Opus completed the project in August.
WESTMONT, ILL. — Centene Corp. has signed a 40,521-square-foot office lease renewal and expansion at 999 Oakmont Plaza Drive in Westmont, about 22 miles west of Chicago. The 117,841-square-foot One Oakmont Plaza is a Class A, six-story office building that includes amenities such as covered parking, a new deli, tenant lounge and conference facility. Patrick Kiefer and Jud Henry with NAI Hiffman’s office services group represented the building’s owner, Sun Life Assurance Co. of Canada, in the transaction. Scott Bazoian of Cassidy Turley in St. Louis represented Centene Corp., a healthcare service provider.
MARLBOROUGH, MASS. — Colliers International has arranged $60 million in bridge financing for 200 Forest St., a 527,580-square-foot office building in suburban Boston. The research and development facility is located adjacent to Interstate 495 in the Forest Street Office Park in Marlborough. 200 Forest Street is part of the 109-acre former Hewlett-Packard campus acquired vacant by the Atlantic Management in 2011. Atlantic plans to use the loan to reposition and redevelop the property into a Class A, mixed-used development and pay off the original acquisition financing. Plans for the mixed-use project include the redevelopment of two existing office buildings; 350 units of multifamily housing; a 150-key hotel; and up to 75,000 square feet of retail. A state-of-the art diagnostic lab facility is currently under construction at 200 Forest St. for the property’s first tenant, Quest Diagnostics. Dave Douvadjian, Tom Welch and Brian Gaswirth led the Colliers’ Boston-based capital markets team in the transaction.
NEW YORK CITY — DelShah Capital LLC has purchased 100-102 Christopher St. in the West Village neighborhood of Manhattan for $26.8 million. The 21,849-square-foot, five-story white brick building includes 37 apartments. Recently renovated units feature new hardwood floors, kitchens with stainless steel appliances, marble baths and washers and dryers. The property also includes three ground-floor retail spaces, occupied by high-end clothing company Rag & Bone. The sellers were Jeffrey Kaye and Robert Morgenstern of Stone Street Properties, who purchased the building in 2011. Recent work to the property included renovation of the lobby, boiler room and common hallways.
PHILADELPHIA — Marcus & Millichap has arranged the $13 million sale of Beechwood Gardens, a 160-unit apartment property in northeast Philadelphia. The sale equates to $81,250 per unit. Clarke Talone, Ridge MacLaren and Andrew Townsend, investment specialists in Marcus & Millichap’s Philadelphia office, represented the seller, a New York-based limited liability company, and the buyer, a local limited liability company. Beechwood Gardens is located at 9805 Haldeman Ave. and is in close proximity to U.S. Route 1 and Interstate 95. Built in 1967 on 5.7 acres, Beechwood Gardens includes 80 one-bedroom units and 80 two-bedroom apartments. More than two-thirds of the units have been renovated.
NEW YORK CITY — AVANT Capital Partners has originated a $1.4 million bridge loan secured by a condominium portfolio in Brooklyn. The developer of the portfolio used the two-year loan, which carries an interest rate of 10.75 percent, to pay off a discounted construction loan. The 13-story building includes a vacant ground-floor retail space and 38 residential condominiums that were completed and brought to market in 2009. The property is located at 55 Flatbush Ave. in the the Fort Green neighborhood of Brooklyn. Adam Luysterborghs, founding principal at AVANT, originated the loan.
HOUSTON — HFF has brokered the sale of 712 Main Street, a 794,186-square-foot office property in Houston’s CBD. Real estate investment firm Lionstone Group has acquired the 37-story Art Deco skyscraper, which was originally constructed in 1929 and today houses the Texas headquarters of JPMorgan Chase’s southwest banking operations, along with 42 other tenants. Brookfield Asset Management Inc. sold the building, which has been designated both a City of Houston landmark and a National Civil Engineering landmark and is listed in the National Register of Historic Places. Dan Miller and Trent Agnew of HFF marketed the property on behalf of Brookfield.
HOUSTON — NorthMarq Capital has arranged $24.1 million in acquisition financing for The Palms on Westheimer, a 798-unit multifamily complex in the Galleria submarket of Houston. Terms of the loan include a five-year, fixed interest rate term with 18 months of interest-only payments and a 30-year amortization schedule. The property, located at 6425 Westheimer Road, offers efficiency, one- and two-bedroom floor plans, as well as amenities including a fitness center, movie cinema, outdoor spa and four resort-style pools. Marty Meagher and Gardiner Champlin of NorthMarq arranged the financing through a CMBS lender on behalf of borrower WOP Palms LLC.
KINGWOOD, TEXAS — Arch-Con Construction has completed a new 123,698-square-foot Kroger Marketplace in Kingwood, a master-planned community approximately 25 miles northeast of Houston. The grocer, set to open Oct. 26, will anchor the Northpark Retail Center III, a 24-acre development at the interchange of Northpark Drive and Highway 59. Arch-Con served as general contractor on the entire complex, for which Gulf Coast Commercial Group is serving as leasing agent. CDA Architects acted as site development architect, LJA Engineering worked as site development engineer, and Robertson Loia Roof was Kroger’s architect.
