PHILADELPHIA — Winthrop Realty Trust has paid $57 million to take over the non-performing $70 million mortgage on 1515 Market St., a 514,000-square-foot office building in Philadelphia. Tenants of the property include Citizens Bank and Temple University.
NEW YORK CITY — Ariel Property Advisors has arranged the $6 million sale of a five-story, mixed-use building at 172-174 East 106th St. in East Harlem. The 21,500-square-foot building was fully renovated in recent years and includes 24 apartments and two ground-floor retail units. The retailers are Sweet Jane's restaurant and a florist. Michael Tortorici, Victor Sozio, Daniel Tropp and Jesse Deutch of Ariel Property Advisors represented the seller, a private operator. Jeffrey Tanenbaum of Halstead Property represented the buyers, a family of private investors.
SECAUCUS, N.J. — Housing and data center services company Internap Network Services Corp. has signed a lease expansion at 1 North Enterprises Ave. in Secaucus where it will occupy 100,000 square feet. The facility, owned by Prologis, will be Internap's 12th company-controlled data center across eight North American markets. The company expects to be fully operational by the fourth quarter of 2013. Jon Mayeske and Sean Brady of Cushman & Wakefield represented the tenant in the transaction.
NEW YORK CITY — Imperium Capital and Bronstein Properties have acquired 309 West 57th Street, a 102-unit apartment building in Midtown Manhattan, for $42.5 million. The 75,000-square-foot building is adjacent to Columbus Circle and across from Hearst Tower. The property also contains the 13,700-square-foot Providence NYC club, which is leased for another seven years.
HOUSTON — Jones Lang LaSalle has arranged the sale of 12301 Kurland, a four-story, 195,525-square-foot office building in Houston's Gulf Freeway submarket. Rudy Hubbard and Kevin McConn of Jones Lang LaSalle represented the seller, Capital Commercial Investments, in the transaction. Paul House and John Ream of Jones Lang LaSalle secured a 10-year senior mortgage CMBS loan through Deutsche Bank on behalf of the buyer, Mission Cos. The property is 92 percent leased to five tenants.
SANTE FE — Cadence McShane Construction Co. has completed the repurposing of the existing 45,612-square-foot Cowan Elementary School and the renovation/addition for the 108,800-square-foot Sante Fe Junior High School, both of which are part of the Sante Fe Independent School District (ISD). Cadence McShane has converted Cowan Elementary into the new Elizabeth Yaws Cowan Education Center, which will serve as the administration facility for Sante Fe ISD. The education center has an updated boardroom, expanded office space and a new technology center. The renovation project at Sante Fe Junior High included the reconstruction of the existing 99,000 square feet of space plus a 9,800-square-foot addition. SBWV Architects provided the comprehensive architectural services for both projects.
FORT WORTH — Sundance Square, a 35-block commercial, retail, residential and entertainment district in downtown Fort Worth, has added several new retailers in time for the holiday season. Coyote, a women's boutique shop, has opened a 2,400-square-foot space at 317 Houston St.; Salata, a next-generation salad bar, has opened a store at 520 Commerce St.; and BB&T opened a 4,200-square-foot bank branch on the ground floor and 4,000 square feet of office space on the second floor of the Caceria Building at Fifth and Commerce streets. Additionally, Flowers to Go is set to open a 790-square-foot shop at 325 Houston St. in January and a two-story, 9,000-square-foot Del Frisco's Grille is coming to the plaza, which is slated for an October 2013 completion.
HOUSTON — Orlando, Fla.-based Cuhaci & Peterson Architects has started to design four Fresh Market stores in the Houston area. The four stores, which all span approximately 23,000 square feet, are located in the Uptown/Tanglewood, Memorial, River Oaks and West University neighborhoods. The four stores are slated for a late 2013 opening.
PORTLAND, ORE. — A partnership between Wood Partners and Hoyt Street Properties will buid a new $80 million, high-rise residential tower in downtown Portland's Pearl District. The 250-unit, 21-story tower is tentatively scheduled to begin construction in fall 2013. Boora Architects is designing the tower, which will be built by a third-party general contractor.
DENVER — The 420-unit Advenir@Stapleton has sold to Advenir for $49.1 million. The community, formerly called Aero Flats at Stapleton, is located in the Denver submarket of Stapleton. Doug Andrews and Jeff Hawks of ARA represented the seller, Carmel Partners, while Advenir was represented in-house in the transaction.