Property Type

PAINTERS DISTRICT COUNCIL #2 OPENS $3.5M TRAINING CENTER

by admin August 20, 2012

CHSTERFIELD, MO. — The International Union of Painters and Allied Trades, District Council #2 has opened a $3.5 million training center at 18036 Eads Ave. in Chesterfield. The 75,000-square-foot training facility more than triples the school's previous space and unites classes once spread among five buildings in St. Louis. The facility is aimed at advancing skills in residential and commercial painting and industrial painting, as well as other finishing trades. The building includes six classrooms, mock structures for interior and exterior training and a blueprint room. The project team included Charles E. Bell Architects, RPA Construction Services and J.W. Fuller Construction.

August 20, 2012

GENX CLOTHING INKS NEW LEASE IN JENNINGS

by admin August 20, 2012

JENNINGS, MO. — Genx Clothing has signed a lease for 7,950 square feet of retail space at Buzz Westfall Plaza on the Boulevard, located at 8035 West Florissant in Jennings. Grant Mechlin of Sansone represented the landlord, Sansone Plaza on the Boulevard LLC, in the transaction.

August 20, 2012

Multifamily Northeast

DEVELOPER PAYS $17M FOR VACANT APARTMENT PROPERTIES IN NYC

by admin August 20, 2012

NEW YORK CITY — A partnership between Naftali Group and Praedium Group has acquired four contiguous apartment buildings at 176, 178,180 and 182 West 82nd St. in New York City for $17 million. The vacant buildings contain 24 apartments within a total of 34,000 square feet of space. The new owners plan to convert the buildings into luxury condominiums, with construction expected to begin early next year. Abraham Aderet, Iris Rossano and Amit Doshi of Besen & Associates represented both parties in the transaction.

August 20, 2012

Mixed-Use Northeast

MIXED-USE BUILDING IN GREENPOINT NEIGHBORHOOD COLLECTS $3.3M

by admin August 20, 2012

NEW YORK CITY — GreenBush Realty has purchased a mixed-use property at 626 Manhattan Ave. in the Greenpoint neighborhood of New York City for $3.3 million. The 4,050-square-foot building is fully occupied and tenants include a deli and pizza parlor on the ground floor. The previous owners recently upgraded the property. Deborah Gutoff, Gabriel Saffioti and Paul Nigido of Eastern Consolidated represented the seller, 626 Manhattan Ave. Corp., in the transaction. They also procured the buyer.

August 20, 2012

Northeast Office

AMERICAN REALTY BUYS FRENCH'S MUSTARD HEADQUARTERS

by admin August 20, 2012

CHESTER, N.J. — American Realty Capital Properties has closed on its purchase of the French's Mustard headquarters building in Chester for $10 million. The 32,000-square-foot building is fully leased to Reckitt Benckiser Group, the parent company of French's Mustard. The company has 5.7 years remaining on its lease.

August 20, 2012

Northeast Retail

PREIT COMPLETES $402M IN MALL REFINANCING

by admin August 20, 2012

PHILADELPHIA — The Pennsylvania Real Estate Investment Trust has completed the refinancing of three of its malls in New Jersey and Delaware. The three loans total $402 million at an average interest rate of 4.06 percent. The loans replaced mortgage balances totaling $316.7 million, which together carried an average rate of 5.30 percent. The loans are secured by Cherry Hill Mall, a 1.3 million-square-foot center in Cherry Hill, N.J.; Cumberland Mall, a 944,000-square-foot center in Vineland, N.J.; and Christina Center, a 303,000-square-foot center in Newark, Del.

August 20, 2012

Hospitality Northeast

WURZAK GROUP TO OPEN $30M HOTEL IN PENNSYLVANIA

by admin August 20, 2012

KING OF PRUSSIA, PA. — A new $30 million full-service hotel is slated to open this fall at 480 North Gulph Rd. in King of Prussia. The Sheraton Valley Forge will feature 180 guest rooms, 25,000 square feet of meeting space and a 10,000-square-foot ballroom. The property will also include a landscaped courtyard, pool, outdoor fire pit, fitness center and a complimentary shuttle. Philadelphia-based Wurzak Hotel Group owns the property.

August 20, 2012

Multifamily Texas

BEHRINGER HARVARD BREAKS GROUND ON APT. COMMUNITY

by admin August 20, 2012

DALLAS — Behringer Harvard has purchased a 3.9-acre tract of land in the 75-acre Victory Park and has begun construction at the site on The Arpeggio Victory Park, a 377-unit apartment community located at 2400 Houston St. in Dallas. Victory Park is a mixed-use development located on the west side of the Dallas CBD. Behringer Harvard is developing the community with Dallas-based Mill Creek Residential Trust. MCRT North Texas/Mountain States Construction, Mill Creek's construction division, will be the general contractor of the development. The property's amenities will include a cyber cafe, business center, fitness center, resort-style pool and dog park.

August 20, 2012

Retail Texas

FARIS LEE BROKERS $5.7M SALE OF BEST BUY

by admin August 20, 2012

LUBBOCK — Faris Lee Investments has arranged the $5.7 million sale of a 30,000-square-foot retail property leased by Best Buy, located at 5916 W. Loop 289 in Lubbock. Jeff Conover of Faris Lee represented the buyer, Cole BB Lubbock TX LLC, a buying entity of Phoenix-based Cole Real Estate Investments, in the 1031 exchange. Conover also represented the seller, Hawaii-based Lubbock HPI.

August 20, 2012

Retail Texas

HFF ARRANGES $5M LOAN FOR PINE HOLLOW

by admin August 20, 2012

CONROE — HFF has secured $5 million in refinancing for the 107,358-square-foot Pine Hollow Shopping Center, located at Interstate 45 and Loop 336 North in Conroe. The shopping center is currently 92 percent leased to Aaron's, Northern Tool+Equipment, Dollar Tree and Star Cinema Grill. Travis Anderson of HFF arranged the 10-year loan through Aetna Life Insurance Co. on behalf of the borrower, Cencor Realty Services.

August 20, 2012

Newer Posts

Older Posts

Upcoming Events

Sep
10