Property Type

BRIXMOR SELLS FIVE SHOPPING CENTERS

by admin August 16, 2012

HOUSTON — Brixmor has sold five shopping centers totaling 262,755 square feet in the Houston MSA. The centers include North 45 Plaza, Tidwell Place Shopping Center and Lazybrook Shopping in Houston, as well as Parkview West Shopping Center and Parkview East Shopping Center in Pasadena. Jerry Goldstein of Marcus & Millichap's Houston office represented the seller in the transaction. A Dallas-based private investor group acquired North 45 Plaza, Tidwell Place and Parkview West. A Houston-based investor purchased Lazybrook and an Amarillo-based partnership acquired Parkview East.

August 16, 2012

THREE FIRMS SIGN LEASES AT HALL OFFICE PARK

by admin August 16, 2012

FRISCO — Three firms have signed new leases at Hall Office Park, a 2 million-square-foot office development located in Frisco. Bolinger & Hogue has renewed its lease for 2,816 square feet at 2595 Dallas Parkway; Jordan, Houser & Flournoy has renewed its lease for 1,103 square feet at 2591 Dallas Parkway; and Maxim Management has signed a new lease at 2801 Network Blvd. Kim Butler, Tammy Nellis and Brad Gibson of Boyer Group represented the landlord, Hall Financial Group, in the lease transactions. Greg Whittington of Cresa Partners represented Bolinger & Hogue and Alexis Martinez of Stream Realty represented Maxim Management Group.

August 16, 2012

Industrial Western

COMMUNICATION TEST DESIGN LEASES 238,450 SF AT WESTSIDE BUSINESS PARK

by admin August 16, 2012

TOLLESON, ARIZ. – Communication Test Design has signed an eight-year lease for 238,450 square feet at the Westside Business Park in Tolleson. The new space is located in Building 4 at 8602 W. Buckeye Road. It will absorb about 40 percent of the 535,213-square-foot warehouse. Communication Test Design was represented by Tony Lydon and Marc Hertzberg of Jones Lang LaSalle. The landlord, LBA Realty, was represented by Allen Lowe and Matt Hobaica of Lee & Associates.

August 16, 2012

Office Western

USC LEASES 19,115 SF IN DOWNTOWN LA

by admin August 16, 2012

LOS ANGELES – USC has signed a 72-month lease for 19,115 square feet at the LA World Trade Center in Downtown Los Angeles. The building is located at 350 South Figueroa Street. USC plans to use the new space for Ednovate, a new charter high school that will open later this month. USC was represented by Howard Feuerstein, Dennis Smith and Cory Campbell of Travers Realty. The landlord, Jamison Services, was represented by Chris Runyen with Charles Dunn Company.

August 16, 2012

Office Western

BECHTEL COMMUNICATIONS LEASES 17,500 SF AT BISHOP RANCH

by admin August 16, 2012

SAN RAMON, CALIF. – Bechtel Communications has leased 17,500 square feet of office space at Bishop Ranch in San Ramon. Its new space will be located at Bishop Ranch 6 at 2420 Camino Ramon. Bechtel was represented by CBRE’s Phil Damaschino.

August 16, 2012

Seniors Housing Southeast

TRYKO BUYS AFFORDABLE HOUSING FOR $7.2M

by admin August 15, 2012

SALISBURY, MD. — Tryko Partners has acquired the 151-unit Pine Bluff Village, an affordable housing community located at 1514 Riverside Drive in Salisbury, from AIMCO for $7.2 million. The property includes a commercial kitchen that serves lunch and dinner, an on-site beauty/barber shop, laundry facilities, an exercise room and a picnic and patio area.

August 15, 2012

Industrial Southeast

ROOKER BREAKS GROUND ON INDUSTRIAL PROPERTY

by admin August 15, 2012

LAGRANGE, GA. — Rooker and the Development Authority of LaGrange have formed a partnership to break ground on an 80,000-square-foot industrial building that is expendable to 240,000 square feet. The building will be located in the authority's approximately 63-acre industrial park at the intersection of Pegasus Parkway and Highway 219 in LaGrange. The park can accommodate four additional buildings, totaling 426,000 square feet. Chris Cummings of Colliers International's Atlanta office will market the buildings.

August 15, 2012

Retail Southeast

PACE ARRANGES $68.7M RETAIL LOAN

by admin August 15, 2012

MORRISVILLE, N.C. — Pace Financial Group has secured $68.7 million in interim and construction financing for Phases I and II of Park West Village, a mixed-use development located in Morrisville. Upon completion, the property will span 375,000 square feet. Pace Financial Group arranged the financing through US Bank and Key Bank on behalf of Casto Group, the borrower.

August 15, 2012

Multifamily Southeast

NORTHMARQ SECURES $24.1M MULTIFAMILY LOAN

by admin August 15, 2012

RIVERVIEW, FLA. — NorthMarq Capital has arranged $24.1 million in acquisition financing for the 340-unit Tranquility Lake Apartments, a market-rate apartment community located at 9707 Tranquility Lake Circle in Riverview. Jeff Frankel and Charlie Robin of NorthMarq Capital secured the five-year loan with 36 months of interest-only payments followed by a 30-year amortization schedule through a correspondent life insurance company on behalf of the borrower, a Midwest-based owner and operator.

August 15, 2012

Midwest Mixed-Use

CONSTRUCTION BEGINS ON FORMER PLYMOUTH CENTER SITE

by admin August 15, 2012

MINNEAPOLIS — Construction is under way on the site of the former Plymouth Center, a strip mall located just west of Highway 169 at 11305 State Highway 55 in Minneapolis. The Plymouth Center was demolished in July and crews have started work on The Waters of Plymouth, a 90-unit senior living community that will offer assisted living and memory care. The community is expected to open in June 2013. McDonald's is also expected to begin construction of a 2,600-square-foot restaurant on the site in April 2013. Oppidan Investment Co., which owns the site, is aiming to finalize the sale of the remaining parcel of land later this month for construction of a 48,000-square-foot medical office building.

August 15, 2012

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