LOS ANGELES – CohnReznick has leased 22,000 square feet in Century City. The new lease will allow the accounting firm to consolidate its former JH Cohn operations, which currently resides at Wilshire Landmark in Brentwood. The new office space is located at 1900 Avenue of the Stars in the Los Angeles submarket of Century City. CohnReznick will occupy the entire 28th floor of the building. The firm was represented by Dave Toomey, Carlo Brignardello and Brian Davies of Cresa Los Angeles. The landlord, Duesenberg Investment Company, was represented by Darren Bell of Topa Management Company.
WASHINGTON, D.C. — Cassidy Turley has arranged a $124 million permanent loan for Paramount Group's 425 Eye St. N.W. in Washington, D.C. The 365,800-square-foot Class A office building is 86 percent leased. The Board of Veterans Affairs is occupying a large portion of the space on a long-term basis. The property underwent a major renovation in 2010. Christian Miles, Philip Mudd and Bradley Geiger of Cassidy Turley arranged the five-year, floating-rate loan.
WASHINGTON, D.C. — Modus Hotels and Alex. Brown Realty have acquired the 75-room Normandy Hotel in Washington, D.C., for $16 million. Located in the Kalorama and Dupont neighborhoods, the acquisition brings Modus' portfolio to 13 hotels, with seven in the metro D.C. area. The hotel recently underwent a $6 million renovation.
FORT LAUDERDALE, FLA. — Waypoint Residential has acquired Cypress Club at Woodmont, located on University Drive in the suburban Fort Lauderdale market of Tamarac. Constructed in 1989, the 164-unit apartment community is 95 percent occupied. Cypress Club is located about six miles west of I-95.
ARLINGTON, VA. — A partnership between Silverwood Cos. and Freedom Development has acquired a 67-unit apartment building near the Courthouse Metro station in Arlington. The buyers plan to shift the property to condominium ownership. Sales at The Avery will open in May and the first residents are expected to move in this summer. Insight Property Group developed the building, located at 1200 N. Rolfe St. Amenities include a lobby and front desk, fitness center, garage parking and bike storage. Units range from 750 square feet to 1,750 square feet.
RALEIGH, N.C. — Business law firm Wyrick Robbins Yates & Ponton LP has renewed and expanded its lease to 57,027 square feet at The Summit, located at 4101 Lake Boone Trail in Raleigh. The firm focuses on mergers and acquisitions, venture capital, financing and business litigation. Heath Chapman and Don Shupe of CBRE represented the tenant in the transaction.
WAUWATOSA, WIS. — HSA Commercial joined Wauwatosa leaders on April 16 to celebrate the groundbreaking of Phase I of The Mayfair Collection, a $46 million mixed-use development in Wauwatosa, a western suburb of Milwaukee. Located at Highway 45 and Burleigh Street, the 270,000-square-foot shopping center will repurpose vacant warehouse buildings into a new, contemporary retail shopping center. Phase I of the project, which is slated for completion in summer 2014, will focus primarily on retail. Other phases will include the development of multifamily, office and medical properties. Nordstrom Rack, Dick’s Sporting Goods and Ulta Cosmetics have all signed leases for Phase I. Des Plaines, Ill.-based Premier Design + Build will serve as general contractor for the project, and Evanston, Ill.-based TOA Architects is responsible for the design.
MINNEAPOLIS — Chartres Lodging Group has purchased the Radisson Plaza Hotel Minneapolis from Carlson Real Estate Co., and plans to convert the property to a Radisson Blu, an upscale hotel. The San Francisco-based group acquired the 360-room property for $28 million, according to the Minneapolis/St. Paul Business Journal. The hotel occupies 17 floors of the 37-story Plaza Seven building, located at 35 S. 7th St. The hotel includes a restaurant and bar, as well as 22,000 square feet of meeting space, access to underground parking and a direct link to the city's climate-controlled skyway system.
LASALLE, ILL. — A 347,700-square-foot distribution center located at 761-765 Progress Parkway in LaSalle, about 60 miles north of Bloomington, has sold for $9.7 million in a sale-leaseback transaction. The seller, a publicly traded company on the NASDAQ, signed a long-term lease with the buyer. Chad Firsel and Daniel Waszak of Quantum Real Estate Advisors Inc. represented the buyer and the seller in the transaction.
WOOD DALE, ILL. — Champion Container Corp. has signed an industrial lease for 89,835 square feet at Chancellory Business Park, located at 1455 N. Michael Drive in Wood Dale, about 25 miles west of Chicago. Champion Container Corp., a custom box shop and full-service distributor of packaging equipment and materials, will consolidate three operation facilities at the location. Brian Colson and Eric Fischer of NAI Hiffman represented the landlord, Prologis, and the tenant in the transaction.