FORT WORTH, TEXAS — General contractor Linbeck has completed a 95,000-square-foot academic project at Texas Christian University (TCU) in Fort Worth. Known as Arnold Hall, the four-story building houses the Anne Burnett Marion School of Medicine and will function as a hub for some 240 medical students, nearly 150 faculty and staff and clinicians from affiliated hospitals. Arnold Hall features a commons area, library, classrooms and faculty offices and suites, as well as anatomy and experimental labs, medical simulation suite and a clinical skills room. The project team included CO Architects (design architect) and Hoefer Welker (executive architect).
IRVING, TEXAS — SiriusXM has signed a 58,350-square-foot office lease renewal in Irving. The Manhattan-based auditory broadcasting giant will remain the sole tenant at Building III of Freeport Business Center, which according to LoopNet Inc. was originally constructed in 1999, for an unspecified period of time. Tim Terrell and Rhett Miller with Stream Realty Partners represented the undisclosed landlord in the lease negotiations. Ryan Buchanan of CBRE represented SiriusXM.
NEW YORK CITY — National general contractor JT Magen has completed the 180,000-square-foot office build-out for law firm Freshfields Bruckhaus Deringer at 3 World Trade Center in Lower Manhattan. The space spans four levels and features a kitchen and cafeteria with food service, a dedicated barista and grab-and-go coffee station, as well as several breakout and meeting spaces that encourage collaborative interactions. Gensler designed the space, and Robert Derector Associates handled engineering initiatives.
GREENWICH, CONN. — Marcus & Millichap has brokered the $19 million sale of a four-building, 47,256-square-foot mixed-use portfolio in Greenwich, located in southern coastal Connecticut. Known as the Nolan Thomas Portfolio, the properties comprise 17 retail spaces, 17 office suites, 10 apartments and an 11,226-square foot, single-story warehouse. Stephen Westerberg of Marcus & Millichap represented the undisclosed seller in the transaction. The buyer was also not disclosed.
CHICOPEE, MASS. — Regional brokerage firm Northeast Private Client Group (NEPCG) has arranged the $10.5 million sale of Brook Edge Apartments, an 82-unit multifamily complex in the western Massachusetts city of Chicopee. The property, which according to Apartments.com was built in 1970, comprises 36 studios, 30 one-bedroom units and 16 two-bedroom apartments. Taylor Perun of NEPCG represented the seller and procured the buyer, both of which requested anonymity, in the transaction.
NEW YORK CITY — Weaver & Tidwell LLP has signed a 36,500-square-foot office lease expansion at PENN 1, a newly redeveloped office building in Midtown Manhattan. The accounting firm is expanding from an 8,000-square-foot space on the second floor to the entire 28th floor of the 55-story building. Neil Goldmacher and Michael Horn of Newmark represented the tenant in the lease negotiations. Josh Glick, Jared Silverman and Anthony Cugini represented the landlord, Vornado Realty Trust, on an internal basis.
NEW YORK CITY — Lyceum Kennedy School has renewed its lease in Midtown Manhattan and also expanded its footprint. The international and bilingual academic institution now occupies 21,950 square feet at 815 Second Ave. between its existing space on the second floor and its new expansion onto the entire third floor. David Hoffman and Sam Hoffman of Cushman & Wakefield represented the school in the lease negotiations. Bill Savarese and Jamie DeJong of Parish Property Management represented the landlord.
LAS VEGAS AND HENDERSON, NEV. — Colliers has arranged the dual acquisitions of a two-parcel infill logistics portfolio in Henderson and Las Vegas by BKM Capital Partners and an Ares Management Real Estate fund. Michael Kendall, Gian Bruno, Dan Doherty, Paul Sweetland, Jerry Doty, Chris Lane, Brian Riffel and Tyler Jones of Colliers represented the seller, a private institutional investment firm, in the sales. BKM Capital Partners purchased a two-building, 153,368-square-foot property at 6620 Escondido St. in Las Vegas for an undisclosed price. BKM plans to implement a $4.4 million capital improvement program to execute structural and cosmetic improvements to the property, as well as speculative tenant improvements to turn the two large units into nine warehouses ranging in size from 7,000 square feet to 31,000 square feet each. The asset was constructed in 1995. An Ares Management Real Estate fund acquired Airparc Heights, a six-building, Class A business park at 3225-3255 Sunridge Parkway and 1065-1085 Alper Center Drive in Henderson. Ares acquired the park, which will be managed by the Ares Industrial Management team. Spanning 339,214 square feet, the project was delivered in 2022 and gained full occupancy within one month of delivery.
FORT COLLINS, COLO. — Green Leaf Partners Management has purchased Alvista Harmony, a garden-style multifamily community in Fort Collins, from an affiliate of Phoenix Realty Group and its joint venture partner. Located at 2002 Battlecreek Drive, the property comprises 16 two- and three-story buildings offering 280 one- and two-bedroom units with an average size of 924 square feet. All units feature walk-in closets, private balconies or patios and a washer and dryer. Community amenities include a clubhouse, business center, fitness center, swimming pool, hot tub, grill station, playground, pet park, dog wash, onsite bike storage, 380 surface parking spaces and 96 detached garages. Phoenix Realty Group has completed renovations to the clubhouse and common areas and has fully renovated 116 units. Previous ownership upgraded 52 of the units, with 42 additional units including finish levels comparable to the classic interior scope. Shane Ozment, Terrance Hunt, Andy Hellman, Justin Hunt, Chris Hart and Brad Schlafer of CBRE represented the seller in the deal.
CATHEDRAL CITY, CALIF. — Calmwater Capital has provided Rhino Investment Group with $20.9 million in short-term, first-mortgage debt for its acquisition of Cathedral City Marketplace, a grocery-anchored retail center in Cathedral City. The 195,000-square-foot shopping center is located in Cathedral City, approximately seven miles southeast of Palm Springs. Situated on 21 acres at 34091-34351 Date Palm Drive, Cathedral City Marketplace offers parking for 1,093 automobiles. Current tenants include Kroger’s Food 4 Less, Planet Fitness, dd’s Discounts, DJ’s Sports Bar and Subway. Calmwater’s Larry Grantham, Zach Novatt and DaJuan Bennett originated the loan. The Los Angeles-based JLL Capital Markets team of Jeff Sause, Chad Morgan, Daniel Skerrett and Jalynn Borders arranged the financing.