Property Type

MEDICAL FACILITY BREAKS GROUND IN HOLDEN

by admin July 6, 2012

HOLDEN, MASS. — Construction crews have broken ground on a three-story, 36,000-square-foot medical office building in Holden. Oriol Health Care, a family-owned healthcare organization, and Reliant Medical Group, a multi-specialty medical group, will occupy the space. The property will be located on the site of the former Holden District Hospital on Boyden Road. Reliant Medical Group will take 17,000 square feet in the building and offer a family medical practice, laboratory, pharmacy, radiology, OB/GYN services and an optical center. Cutler Associates is constructing the property, which is expected to be complete by the spring of 2013. Margulies Perruzi Architects designed the building.

July 6, 2012

FLOW SMART ACQUIRES 60,000 SF DELAWARE BUILDING

by admin July 6, 2012

SEAFORD, DEL. — Flow Smart, a polymer product company, has purchased 213 Nesbit Drive in Seaford for $1.7 million. The 60,000-square-foot industrial building was formerly occupied by Century Window Fashions before slipping into foreclosure in late 2011. Rodney Joyner and Tom Knopp of Sperry Van Ness — Miller Commercial Real Estate represented the seller, WSFS Bank, in the transaction. Rob Harman, also of Sperry Van Ness, represented the buyer.

July 6, 2012

Multifamily Northeast

OCTAGON PAYS $6M FOR BROOKLINE APARTMENT PROPERTY

by admin July 6, 2012

BROOKLINE, MASS. — Octagon Property Management has paid $6 million to buy 50-54 Kent St., a 15-unit apartment property in Brookline. The property is comprised of two apartment buildings on a 22,000-square-foot lot. Both buildings are fully occupied. Carl Christie, Dan McGee and Henry Lieber of NAI Hunneman represented the seller, 50-54 Kent Street LLC, in the transaction. They also procured the buyer.

July 6, 2012

Multifamily Northeast

DISTRESSED APARTMENT PROPERTY IN TEANECK SELLS FOR $1.4M

by admin July 6, 2012

TEANECK, N.J. — Gebroe-Hammer Associates arranged the sale of a distressed apartment building, located at 63 Washington Place in Teaneck, for $1.4 million. Constructed in 1940, the 16-unit building includes a mix of one-, two- and three-bedroom units. The buyer and seller are two, long-time Gebroe-Hammer clients. Greg Pine of Gebroe-Hammer represented both parties in the transaction. The new owner plans to renovate the property.

July 6, 2012

Seniors Housing Texas

LTC PROPERTIES BUYS SKILLED NURSING FACILITY FOR $6.5M

by admin July 6, 2012

BROWNWOOD — LTC Properties has acquired a 90-bed skilled nursing facility, located in Brownwood, for $6.5 million. Concurrent with the purchase, LTC Properties added the property to an existing master lease with Senior Care Centers. The property was built in 2011.

July 6, 2012

Retail Texas

LA FITNESS TO OPEN AT FORMER BORDERS' SITE

by admin July 6, 2012

DALLAS — LA Fitness has signed a long-term lease agreement to build a 45,000-square-foot facility in the Old Town Shopping Center, located at the northeast corner of Lovers Land and Greenville Avenue in Dallas, on the site of a former Borders Books & Music store. Construction has commenced for the new facility. John Zikos, Jonathan Cooper and Chris Booras of Venture Commercial, along with Walt Brown Jr. and Tim Dollander of Diversified Partners, represented LA Fitness in the lease transaction. Elizabeth Allen and Michelle Caplan of The Weitzman Group represented the landlord.

July 6, 2012

Office Texas

MESSENGER COLLEGE ACQUIRES SIGNET HILL OFFICE BUILDING

by admin July 6, 2012

EULESS — Messenger College has acquired 25,000 square feet of office space in the Signet Hill office building, located at 400 S. Industrial Blvd. in Euless. Messenger College, an accredited college affiliate with the Pentecostal Church of God, will occupy the third floor and part of the second floor. Darrel Higginbotham of SCM Real Estate Services represented the landlord in the transaction. Dean Lemons of Dean Lemons & Associates represented the buyer.

July 6, 2012

Retail Texas

NEWQUEST BROKERS SALE OF FUTURE DOLLAR GENERAL SITE

by admin July 6, 2012

HOUSTON — NewQuest Properties has arranged the sale of 37,135 square feet of land, located at Imperial Drive and Bammel Road in Houston, for a future Dollar General store. Vaughan Ford of NewQuest represented the buyer, Houston DG Ltd., in the transaction. Jeff Scarborough of Scarborough Real Estate represented the seller.

July 6, 2012

Office Texas

JLL SECURES 173,000 SF OFFICE LEASE IN HOUSTON

by admin July 6, 2012

HOUSTON — Jones Lang LaSalle has arranged a lease of 173,000 square feet of office space in an office building being developed in Houston's Energy Corridor. The tenant, Murphy Exploration & Production Co., will occupy seven-and-a-half floors of the 14-story property that will be located at 9805 Katy Freeway in Houston. Construction is slated for an October 2013 completion and is designed to achieve LEED Silver certification. Dan Bellow and John Burke of Jones Lang LaSalle represented the tenant in the lease transaction. MetroNational, the owner/developer of the property was self-represented by Randy Nerrin.

July 6, 2012

Office Western

FOUR BUILDINGS AT POUDRE VALLEY PLAZA SELL FOR $6.8M

by admin July 6, 2012

FORT COLLINS, COLO. — Four buildings inside Poudre Valley Plaza in Fort Collins have sold to Poudre Valley Plaza LLC for $6,851,443. The sellers, Poudre Valley Holdings, Ltd. and Alroy Capital CO, LLC, were represented by Jared Goodman of Cassidy Turley Fuller Real Estate.

July 6, 2012

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