NEW YORK CITY — Colliers International has arranged a 15-year, 41,000-square-foot corporate relocation on behalf of AFS-USA to 120 Wall St. in New York City. Formerly the American Field Service, AFS-USA is a nonprofit that provides international and intercultural learning experiences to individuals, families, schools and communities through a global volunteer partnership. Founded in 1947, AFS-USA has served more than 400,000 students and young adult professionals around the world. AFS-USA decided to consolidate and relocate its four existing offices in Baltimore; Portland, Ore.; St. Paul, Minn.; and 1 Whitehall Street in Manhattan to 120 Wall St. The organization will occupy the entire fourth floor as well as space on the third floor. AFS-USA is scheduled to move into its new space by the end of this year. Alan Desino, an executive managing director with Colliers International, arranged the lease on behalf of AFS-USA. Roger Silverstein and Joe Artusa, of Silverstein Properties, represented the landlord in the transaction.
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DALLAS AND AUSTIN, TEXAS — Steadfast Income REIT has purchased two Texas apartment properties in separate deals for an aggregate price of $92 million. Meritage at Steiner Ranch (currently known as Monterone at Steiner Ranch), which sold for $80 million, is a 502-unit complex within the Steiner Ranch master planned community in Austin. The Belmont, which sold for $12.1 million, is a 260-unit complex in the Dallas/Fort Worth suburb of Grand Prairie. With these acquisitions, Steadfast now holds more than 10,000 multifamily housing units in 10 states.
DALLAS — The Hillside West Seniors Community, a 130-unit, age-restricted multifamily complex, has opened ahead of schedule at The Canyon in Oak Cliff, a 200-acre mixed-used development located five miles west of downtown Dallas. Development owner Stratford Land partnered with developer GroundFloor Development on both Hillside West and The Canyon’s original multifamily complex, Taylors Farm Apartments. GroundFloor utilized HUD financing and Low Income Housing Tax Credit financing assistance in the construction of the new complex, which offers one- and two-bedroom configurations plus amenities.
SUGAR LAND, TEXAS — Behringer Harvard has acquired Parkside Apartments, a 240-unit apartment community in Sugar Land, a growing city within Greater Houston. The property was purchased for the portfolio of Behringer Harvard Opportunity REIT II through a joint venture with affiliates of Houston’s Arcadian Real Estate Group. Built in 1998, Parkside comprises 19 buildings on 9.2 acres near the intersection of Highway 6 and U.S. Highway 90. The joint venture partners plan a renovation program for the complex that will upgrade common-area amenities as well as unit finishes.
FORT WORTH, TEXAS — Kubota Tractor Corp. has signed a lease for 44,000 square feet at Fort Worth’s CentrePort Business Park 3, bringing the 200,848-square-foot office/industrial complex to 100 percent occupancy. Bradford Commercial Real Estate Services’ Michael Spain and Joe Santaularia represented landlord Valwood 501 (c)(25) Inc. in the negotiations. CentrePort Business Park 3, located at 4300 Diplomacy Road in the Upper Great Southwest Industrial submarket, is only a quarter-mile from Kubota’s primary distribution center on FAA Boulevard.
HOUSTON — Deals are in place for three new Houston metro locations of Dunkin’ Donuts, which recently announced its commitment to open a minimum of 60 locations in the area within the next five years. Jonathan Hicks of Davis Commercial represented the tenant in build-to-suit agreements with Tweed Property Interests LLC in Deer Park, Calvert Lindsay Interests LP with Yes Partners LLC in Katy and Ayrshire Corp. with Daily Grind LLC in the Southeast Houston submarket.
SPOKANE VALLEY, WASH. – A 120-unit apartment complex in Spokane Valley has received $9.7 million in permanent financing. The total take-out loan contains a 10-year term, 30-year amortization schedule and an 80 percent loan-to-value. It was arranged by Demetri Koston of Newmark Realty Capital in Spokane.
SAN DIMAS, CALIF. — TP-Link USA Corporation has signed a 38-month lease at a 52,000-square-foot industrial warehouse in San Dimas. The company will be relocating from its current 15,000-square-foot space in City of Industry. The new facility is located at 975 Overland Court. TP-Link was represented by CBRE’s Jason Chao. The landlord, , PEER Properties-2 and RDS Investment Holdings, was represented by Lynn Knox and Kent Stalwick, also of CBRE.
PHOENIX – A 9.4-acre plot of land in Deer Valley has sold to the Mack Company for $2.6 million. The company plans to build a 169,000-square-foot, Class A industrial development on the site, which is located near the southwest corner of Pinnacle Peak Road and 7th Street in north Phoenix. It is scheduled for completion in May 2014. Mack was represented by Steve Sayre, Pat Harlan, Kyle Westfall, Mark Detmer and Bo Mills of Jones Lang LaSalle. The seller, 7th Street & Airport Drive II, LLC, was represented by Luke Lewis of Luke Land Realty.
SEATTLE – Construction has begun on Alliance Residential’s 248-unit Broadstone Capitol Hill project in the Seattle submarket of Capitol Hill. The project will be located at 1414 10th Ave. in the Pike Pine Corridor. It is scheduled for completion in early 2015 and will be built by Exxel Pacific. Though the project is referred to as Broadstone Capitol Hill, its branded name is still pending.Alliance recently debuted the 166-unit Broadstone Koi in nearby Ballad, which is at nearly 90 percent occupancy. The 105-unit Viva mixed-use development in Capitol Hill is also scheduled for completion in the first quarter of 2014.