Property Type

TOYMAKER HASBRO'S U.S. HEADQUARTERS SELL FOR $29.8M

by admin January 16, 2013

PROVIDENCE, R.I. — Inland Diversified Real Estate Trust has acquired One Hasbro Place, toymaker Hasbro's U.S. corporate headquarters in Providence, for $29.8 million. Hasbro fully occupies the 135,908-square-foot property, which recently underwent a full renovation. Toy brands sold by Hasbro include Star Wars, Transformers, Playskool, Nerf and Trivial Pursuit. The company plans to move more than 300 employees to the area to make the property its new U.S. headquarters for sales and marketing. Joe Consenza of Inland Real Estate Acquisitions represented Inland Diversified in the transaction.

January 16, 2013

NORTHMARQ ARRANGES $32M MORTGAGE FOR SCARSDALE CENTER

by admin January 16, 2013

SCARSDALE, N.Y. — NorthMarq Capital has arranged a $32 million loan for the refinancing of Midway Shopping Center, a 246,981-square-foot retail property at 1001 Central Park Ave. in Scarsdale. Major tenants at the site include Shop Rite, CVS/pharmacy, Jo-Ann Fabrics, The Dress Barn and Planet Fitness. Doug Austin of NorthMarq arranged the 15-year loan through a life company lender.

January 16, 2013

Multifamily Northeast

BEECH STREET ARRANGES $11.3M ACQUISITION LOAN

by admin January 16, 2013

CHELMSFORD, MASS. — Beech Street Capital has arranged an $11.3 million Fannie Mae loan for the acquisition of the Carriage House and Coach House Apartments in Chelmsford. Built in the 1960s, the properties are 88 percent occupied and total 149 units. Briar Cliff Management oversees the property. Mike Edelman of Beech Street arranged the 10-year, fixed-rate loan that includes a 30-year amortization schedule.

January 16, 2013

Office Texas

PREI ACQUIRES 2000 ST. JAMES PLACE

by admin January 16, 2013

HOUSTON — Principal Real Estate Investors (PREI), one of the largest institutional real estate managers in the U.S., has acquired 2000 St. James Place, a 335,000-square-foot office building in Houston's Galleria submarket. The office building is fully leased to Weatherford International. PREI purchased the property on behalf of a consortium of South Korean Investors, including Korean Federation of Community Credit Cooperatives, Korea Scientists and Engineers Mutual-Aid Association and Simone Investment. The managing member of the South Korean investment group is represented by Simone Investment. The selling group was led by CORE Real Estate. Woori Asset Management is the South Korean onshore asset manager and PREI is the acting U.S. asset manager. CBRE Group helped broker the transaction.

January 16, 2013

Office Texas

COLLIERS BROKERS SALE OF TWO UPTOWN DALLAS OFFICE BUILDINGS

by admin January 16, 2013

DALLAS — Colliers International North Texas has arranged the sale of One Lee Park and Oakwood Tower, two office properties totaling 118,400 square feet in uptown Dallas. Creighton Stark and Ben Lurie of Colliers represented the buyer, Dallas-based Blackwatch Partners, in the transaction. World Class Capital is the seller. One Lee Park is located at 3033 Lee Parkway and Oakwood Tower is located at 3626 Hall St.

January 16, 2013

Industrial Texas

ALLIANCE TO DESIGN PSG HEADQUARTERS

by admin January 16, 2013

IRVING, TEXAS — Alliance Architects has won the bid to design a 150,000-square-foot manufacturing/distribution facility for Project Services Group (PSG), located on a 9.1-acre site at 2000 Century Center Blvd. in Irving. The new headquarters facility will consist of 54,000 square feet of industrial space, 14,000 square feet of office space and the rest is available for lease to future tenants. Joven Cavas of Alliance is overseeing the project management, PSG will provide general construction services, Wier Associates is providing civil engineering services and McHale Engineering is providing structural engineering services.

January 16, 2013

Retail Texas

RCG VENTURES FUND II SELLS RETAIL PROPERTY

by admin January 16, 2013

SPRING, TEXAS — RCG Ventures Fund II has sold a 45,222-square-foot retail property, located in Cypresswood Court in Spring. The property's tenants include Best Buy and Mattress Firm. Other tenants in Cypresswood Court include Target, Petco and Staples.

January 16, 2013

Industrial Texas

KDH ARRANGES $9.75M LOAN FOR INDUSTRIAL PORTFOLIO

by admin January 16, 2013

HOUSTON — The Houston office of Q10 Kinghorn, Driver, Hough & Co. (KDH) has secured $9.75 million in permanent financing for a six-property industrial portfolio located in Houston, Deer Park and Pasadena. The portfolio totals 232,989 square feet and is fully leased. Travis Fite of KDH arranged the loan through Aviva Investors on behalf of the borrower, Houston-based GSL Welcome Group.

January 16, 2013

Multifamily Western

MIG BUYS CHURCHILL DOWNS APARTMENTS IN DENVER

by admin January 16, 2013

DENVER — MIG Real Estate, LLC has purchased the 168-unit Churchill Downs apartments in Denver for an undisclosed sum. The unnamed seller was represented by Doug Andrews, Jeff Hawks, Terrance Hunt, Shane Ozment and Jason Wine of Apartment Realty Advisors (ARA). MIG represented itself in this transaction. The property will be managed by Alliance Residential.

January 16, 2013

Office Western

MEDICAL CAMPUS SET TO BREAK GROUND IN BULLHEAD CITY

by admin January 16, 2013

BULLHEAD CITY, ARIZ. – A five-building medical office campus is set to break ground within Bullhead City’s master-planned community of Fox Creek. The five-acre project will contain five buildings, each consisting of 7,500 square feet. A $17-million assisted living facility is scheduled to be built adjacent to the campus. The 95,300-square-foot facility, named Joshua Springs, will contain 74 assisted living units and 30 memory care beds. Brookfield Communities is developing the medical office campus, which will break ground early this year. It had previously sold the land where Joshua Springs will be developed to Strata Management. Joshua Springs will be built by Seabold Construction and designed by John Lape. The facility will break ground next month. It is scheduled for completion in the first half of 2014.

January 16, 2013

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