Property Type

DELSHAH BUYS DEBT ON 22 RENICK ST.

by admin October 17, 2012

NEW YORK CITY — DelShah Capital has acquired the mortgage debt on 22 Renwick St., a 19-unit condominium with ground-floor commercial space in New York City. The price was not disclosed however, David Schectman and Alan Miller of Eastern Consolidated marketed the property for nearly $25 million. Originally developed by Orange Management, the building went into foreclosure during the economic downturn in 2008. DelShah will finance the remaining construction of the 24,000-square-foot property while investing in upgrades. OTL Enterprises will complete the property build-out.

October 17, 2012

CADENCE MCSHANE TO EXPAND HIGH SCHOOL

by admin October 17, 2012

PLANO — The Plano Independent School District has selected Cadence McShane to complete an 86,000-square-foot expansion project at Plano West Senior High School, located at 5601 W. Parker Road in Plano. The construction assignment includes building a two-story, 52,000-square-foot career/technology center and adding space to three campus buildings. The project is slated for a May 2013 completion. Dallas-based WRA Architects is providing architectural services for the construction/expansion project.

October 17, 2012

Retail Texas

JUMPSTREET BUYS FORMER ALBERTSONS BUILDING

by admin October 17, 2012

ALLEN — The owners of Jumpstreet have purchased a 62,332-square-foot retail property that was once leased to Albertsons. The property is located at 2031 W. McDermott Drive in Allen. John Zikos, Christopher Gibbons, Amy Pjetrovic-Hunnicut and Chris Booras of Venture Commercial represented the seller, Albertsons, in the transaction. The Venture Commercial brokers are representing Albertsons in the disposition of all their north Texas stores. Dallas-based Newmark Real Estate and Mike Quinlan of Denver-based Newmark Knight Frank Frederick Ross represented the buyer in the transaction.

October 17, 2012

Office Texas

CIELO BUYS OFFICE PROPERTY IN HARLINGEN

by admin October 17, 2012

HARLINGEN — Austin-based Cielo Realty Partners has purchased a 40,000-square-foot office building, located at 2200 Haine Drive in Harlingen. Cielo plans to begin renovating the property immediately. Brandon Beason of Edge Realty and Connie de la Garza of Bahnman Realty represented the seller in the transaction. The buyer was self-represented.

October 17, 2012

Multifamily Texas

M&M BROKERS SALE OF CROSSROAD GARDENS TOWNHOMES

by admin October 17, 2012

DALLAS — Marcus & Millichap has arranged the sale of the 12-unit Crossroad Gardens Townhomes, located at 13333 Maham Road in Dallas. Each unit has two bedrooms and two-and-a-half bathrooms. Robert Denninger of Marcus & Millichap's Dallas office represented the seller, a limited liability company, in the transaction.

October 17, 2012

Office Texas

MAXIM SELLS OFFICE/FLEX BUILDING IN FARMERS BRANCH

by admin October 17, 2012

FARMERS BRANCH — Maxim Integrated Products has sold its 20,350-square-foot office/flex building, a single-story property located at 4220 Beltwood Parkway in Farmers Branch. The disposition is the first of 13 vacant properties that Maxim is planning to sell following the company's acquisition of Dallas Semiconductor Corp. in 2001. Maxim now occupies a new 138,000-square-foot Class A property. Leigh Richter and Jason Miller of Bradford Commercial Real Estate Services are representing the seller for all 13 dispositions, either on an individual or bulk basis. Brian Pafford, also of Bradford, represented the buyer, ACMC Ventures LLC, in the transaction.

October 17, 2012

Multifamily Western

LANDMARK AT ONTARIO TOWNE CENTER CHANGES HANDS

by admin October 17, 2012

ONTARIO, CALIF. – The 469-unit Landmark at Ontario Towne Center has sold to a subsidiary of Camden Property Trust for an undisclosed sum. It is located within the master-planned Piemonte at Ontario Center development. The community was 95 percent occupied at the time of sale. The seller, a fund advised by Prudential Real Estate Investors, was represented by CBRE’s Paul Runkle, Tyler Anderson and Laurie Lustig-Bower.

October 17, 2012

Office Western

ORBITAL SCIENCES OFFICE BUILDING IN CHANDLER SELLS FOR $19.5M

by admin October 17, 2012

CHANDLER, ARIZ. – An 83,183-square-foot office building in Chandler that is fully leased to Orbital Sciences has sold to Paramount International LLC for $19.5 million. The building is located at 3377 S. Price Road within the Price Corridor. Paramount was represented by Tivon Moffitt of Colliers International. The seller, Gilbane Development Company, was represented by Barry Gabel and Mindy Korth of CBRE’s Phoenix office.

October 17, 2012

Multifamily Western

SAGEWOOD APARTMENTS IN GLENDALE RECEIVES $6.1M

by admin October 17, 2012

GLENDALE, ARIZ. – The 176-unit Sagewood Apartments in Glendale has received $6.1 million in first-mortgage financing. The community is located at 15082 North 59th Street. The funds represented a refinance of a bridge loan that was funded in 2010. The new loan includes a seven-year term with two years interest-only and a 30-year amortization schedule. It was arranged by Luke Donahue of NorthMarq Capital’s Phoenix office through the firm’s seller-servicer relationship with Freddie Mac.

October 17, 2012

Retail Western

CABELA’S BUYS 10-ACRE RETAIL SITE IN DENVER

by admin October 17, 2012

DENVER — Cabela's, a national sporting goods and outdoor store, has purchased a 10.68-acre retail site in Denver for $3.7 million. It is located on the Southwest corner of Interstate 25 and Ridgegate Parkway. A 105,000-square-foot Cabela's is set to be constructed on the site. It is scheduled to open in spring 2013. The site is part of a 30-acre retail master-planned development.

October 17, 2012

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