NEW YORK CITY — International fashion brand Tony Burch has signed a 10-year lease for 80,000 square feet of office space at 350 Hudson St. in Hudson Square. The women's wear and accessory designer will occupy the 5th and 6th floors of the building. The nine-story building is also home to Havas and PR Newswire. Asking rents in the building are in the mid-$50s per square foot. Don Preate and Jaime Katcher of Cushman & Wakefield represented Tony Burch in the transaction. The landlord, Trinity Real Estate, was represented in-house by Marc Packman and Charles Laginestra.
TEWKSBURY, MASS. — Oak Grove Capital has arranged a $10 million bridge loan to refinance Bayberry at Emerald Court, a 90-unit assisted living and memory care community in Tewksbury. Oak Grove arranged the 18-month, interest-only loan on behalf of the borrower, a limited liability company. Bayberry at Emerald Court is managed by Boston-based Northbridge. The bridge loan enables the borrower to lower the interest rate on debt it had obtained prior to repositioning the property.
PLAINSBORO, N.J. — Construction is complete on the Medical Arts Pavilion, a 140,000-square-foot medical office building that is part of the new University Medical Center of Princeton in Plainsboro. The medical center is a replacement hospital for the existing location in downtown Princeton. The five-story Medical Arts Pavilion is located at 5 Plainsboro Rd. Princeton Health Care System occupies more than 70 percent of the building and will operate an ambulatory surgical center, diagnostic radiology and other medical functions. The remaining space will be available for private physicians offices. The project is owned by Partners Health Trust, a joint venture between Trammell Crow and a public pension fund.
ROCKY HILL, CONN. — Civil engineering firm United International Corp. has signed a lease for 6,713 square feet of office space at 55 Capital Blvd. in Rocky Hill. The company is slated to move in June 1. Michael Puzzo of CBRE represented New Boston in the transaction. Chris McLaughlin of McLaughlin Real Estate represented the tenant.
FARMERS BRANCH — A joint venture between Naperville, Ill.-based The Marquette Companies and Glendale, Calif.-based American Realty Advisors has purchased the 224-unit Portofino Luxury Apartments, located at 11601 Lago Vista W. in Farmers Branch. Marquette will serve as the property manager for the facility. The property features a clubhouse with a kitchen, Internet cafe, pool, spa, fitness center and business center. CBRE Capital provided acquisition financing through Freddie Mac for the transaction.
ALLEN — Holiday Retirement has purchased the 196-unit Parkview in Allen, an independent living community located on Greenville Avenue in Allen. The seller, McKinney-based Zerga Development, was the general partner, developer and operator of the community. Mike Girard and Ed LaFrance of Allen-based TSG represented the seller in the transaction.
LEWISVILLE — Cosmic Jump Trampoline Entertainment Center will open a 22,900-square-foot location at 1915 S. Stemmons Freeway in Lewisville for its second location in Texas. The facility is a vacant Bassett Furniture store near Valley Ridge Mall. Cosmic Jump will open its doors in mid June. The location will feature private birthday rooms, trampoline dodge ball courts, trampoline basketball courts, parallel-ramped trampolines, X-Box Kinect activity fun zones, fitness boot camps and a full-service snack bar. Eric Vickers of Kim Martin Co. represented the landlord, Lewisville Bassett, in the lease transaction.
BASALT, COLO. — Cohen Financial has provided a $15-million construction loan to develop retail space at Willits Town Center, a multi-use community development in Basalt. The loan will cover the construction of a 26,200-square-foot Whole Foods Store and another 19,000 square feet of new retail space in the same building. It will also include 28,000 square feet of existing retail space that is partially leased. The loan is secured by the balance of the land in development. The loan was secured by Don C. Trossman of Cohen Financial’s Chicago office through a Midwestern-based bank. It features a 24-month term with an extension option rate.
ARVADA, COLO. — SKYLouver Systems has signed a five-year lease for 10,283 square feet at the Ralston Business Center in Arvada. The center is located at 5525 W. 56th Ave. The company will utilize the space as a research and development facility. SKYLouver was represented by Brady Welsh and Jeffrey Nations of Bitzer Real Estate Partners/CORFAC International.
QUEEN CREEK, ARIZ. — A 16,615-square-foot industrial manufacturing building located at 21775 E. McCowan Lane in Queen Creek has sold to Ranchland Holdings I, LLC for $1.1 million. The one-story building was constructed in 2004 and contains 13,114 square feet of warehouse and 3,500 square feet of office space. Ranchland Holdings was represented in-house, while the seller, MidFirst Bank, was represented by TJ Swearengin and Matt McDougall of Lee & Associates.