Property Type

CHESTNUT HILL NEARS COMPLETION OF $12M APARTMENT EXPANSION

by admin July 20, 2012

BOSTON — Chestnut Hill Realty is nearing completion of a $12 million expansion project at its Ridgecrest Village Apartments property in Boston. The project will include the addition of a 48-unit apartment building, bringing the total number of units at the property to 389. The project will also include the addition of a new pool, clubhouse with fitness center and the expansion of on-site parking. The new apartment building, designed by Lowe Associates-Architects, is scheduled for completion later this month. Rents for the one-bedroom units will start at $1,650 per month, while two-bedroom units are priced starting at $1,950 per month.

July 20, 2012

AMERIDOSE BUYS MANUFACTURING BUILDING FOR $4.5M

by admin July 20, 2012

WESTBOROUGH, MASS. — Ameridose LLC has purchased 205 Flanders Road, a 76,126-square-foot manufacturing building in Westborough, for $4.5 million. DSN Realty Trust is the seller. Ameridose, which provides sterile admixing services to hospital pharmacies, is currently occupying the facility. Craig Johnston and John Eysenbach of R.W. Holmes Realty represented both parties in the transaction.

July 20, 2012

Northeast Office

ASSET MANAGER RENEWS LEASE IN QUINCY

by admin July 20, 2012

QUINCY, MASS. — UBS, a Zurich-based asset manager, has renewed and expanded its lease to 26,425 square feet at the Ten 99 building, located at 1099 Hingham St. in Quincy. Richard McKinnon of The Grossman Cos. represented the landlord, Rockland Haverstraw, in the transaction. Stephen Woelfel and Laura Finamore of Cushman & Wakefield represented the tenant.

July 20, 2012

Civic Texas

TEXAS STATE SELECTS S&P FOR $9.3M RENOVATION PROJECT

by admin July 20, 2012

SAN MARCOS — Satterfield & Pontikes has been selected as the construction manager for a $9.3 million project to renovate Texas State University's psychology building on its San Marcos campus. The project consists of renovating and remodeling 37,500 square feet of the existing psychology building for the philosophy, computer science and transportation services departments. The renovation includes modifications to the HVAC, electrical, plumbing and telecommunication systems within the building. Randall Scott Architects will provide design services. Construction is slated to begin in spring 2013 and be complete by May 2014.

July 20, 2012

Industrial Texas

MONMOUTH ACQUIRES INDUSTRIAL BUILDING FOR $8.73M

by admin July 20, 2012

WACO — Monmouth Real Estate Investment Corp. has acquired a 102,594-square-foot industrial property, located at 685 Alliance Parkway in Waco, for $8.73 million. The property is net-leased for 10 years to FedEx Ground Package System. The facility was recently constructed by Jones Development Co.

July 20, 2012

Multifamily Texas

M&M BROKERS SUNRISE VILLAGE APTS. SALE

by admin July 20, 2012

DALLAS — Marcus & Millichap has arranged the sale of the 148-unit Sunrise Village Apartments, located at 4836 Sunnyvale St. in Dallas. John Barker of Marcus & Millichap's Dallas office and Boyan Radic of the firm's Fort Worth office represented the seller, an individual trust, in the transaction.

July 20, 2012

Retail Texas

HUNINGTON PROPERTIES SECURES ELDRIDGE PLAZA SALE

by admin July 20, 2012

HOUSTON — Hunington Properties has brokered the sale of the 8,800-square-foot Eldridge Plaza, located near the intersection of Eldridge Parkway and Little York Road in Houston. Todd Carlson of Hunington Properties represented the seller, a New York City-based investor, in the transaction, and procured the buyer, a Houston-based investor.

July 20, 2012

Industrial Texas

JOHNSON CAPITAL ARRANGES $8.4M INDUSTRIAL LOAN

by admin July 20, 2012

HOUSTON — Johnson Capital has secured $8.4 million in permanent financing for a 250,176-square-foot warehouse/distribution building, located near the Northwest Freeway 290 in Houston. The property is currently fully leased to Office Depot. Kevin Burkhalter of Johnson Capital's Los Angeles office arranged the 15-year loan with a 25-year amortization schedule on behalf of the borrower, a Los Angeles-based private entity.

July 20, 2012

Industrial Western

DESERT VISTA COMMERCE CENTER RECEIVES $5M

by admin July 20, 2012

TEMPE, ARIZ. — Desert Vista Commerce Center, a 98,687-square-foot office and flex industrial building in Tempe, has received $5 million in first-mortgage refinancing. The building is located on South Hardy Drive. The 10-year, fixed-rate loan was arranged by Shari Stults of NorthMarq Capital’s Phoenix office through the firm’s relationship with a correspondent life insurance company.

July 20, 2012

Industrial Western

CONSTRUCTION BEGINS ON EXPANSION OF SOCAL LOGISTICS CENTRE IN VICTORVILLE

by admin July 20, 2012

VICTORVILLE, CALIF. — Construction has commenced on a 176,800-square-foot expansion at the Southern California Logistics Centre (SCLC) in Victorville. This is a 2,500-acre industrial and commercial complex that is being expanded to accommodate the distribution needs of one of the center’s major tenants. That tenant recently signed a new 10-year lease extension at the center. Once completed, the 407,612-square-foot facility will expand to 584,412 square feet. The center is owned by Stirling Capital Investments, which was represented by CBRE’s Darla Longo, Barbara Emmons, Jay Dick and Mark Latimer in the lease transaction. The tenant was represented by Ralph Gilbertson and Erik Wanland, also of CBRE.

July 20, 2012

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