YONKERS, N.Y. — Lord & Taylor has opened a new store in Westchester's Ridge Hill in Yonkers. The 80,000-square-foot store is the company's 11th store in the state of New York. The two-story location offers men's and women's clothes, jewelry, makeup and more. Ridge Hill is owned and operated by Forest City Ratner Cos.
NEW YORK CITY — Daniel Hlipert of Mortgage Equicap has arranged a $6.2 million bridge loan for the acquisition of a development site in Soho. The borrower, a foreign developer, plans to develop retail and luxury condominiums on the site. The property currently contains a vacant, two-story structure.
MORRISTOWN, N.J. — TM Forum has renewed and expanded its lease to 16,500 square feet at 240 Headquarters Plaza in Morristown. Sam Horowitz and Chris Hovanec of UGL Services' Iselin, N.J. office represented the tenant in the deal. Ben Brenner, Jon Williams and Robert Donnelly Jr. represented the owner, Olnick-Fisher Development Associates. TM is an international, non-profit association for service providers and their suppliers in the information, telecommunications and entertainment industries.
HOUSTON — HFF has arranged the sale of two multi-tenant office buildings, located in Houston's Greenspoint submarket, totaling 395,424 square feet. The buildings include the 213,777-square-foot 333 North Sam Houston Parkway East, which is 72 percent leased, and the 181,647-square-foot 10700 Interstate 45 North, which is 47 percent leased. Dan Miller and Martin Hogan of HFF's Houston office represented the undisclosed seller in the transaction. Irvine, Calif.-based The Khoshbin Company purchased the properties.
DEER PARK — Walker, La.-based Excel Modular Scaffolding has plans to build a 16,000-square-foot office/warehouse facility in the northwest quadrant of Highway 225 and Independence Parkway in Deer Park. Doug Bates and Joel Hill of Henry S. Miller's Houston office negotiated a design-build requirement with Excel. The new facility is slated for an October 2012 completion. Excel recently completed a design-build agreement with Houston-based Levey Development and Construction. The property will serve as Excel's Houston operations facility.
FORT WORTH — Marcus & Millichap has brokered the sale of Crestwood Apartments, located on the corner of White Settlement and Bailey Avenue in west Fort Worth. Boyan Radic and Mason Green of Marcus & Millichap's Fort Worth office represented the seller, a California-based family trust, in the off-market transaction. The buyer was a local limited liability company and financing was arranged through a local bank at 75 percent LTV. The buyer plans to replace the roof and update many of the unit interiors. The apartment complex is currently 100 percent occupied.
BAYTOWN — A 8,200-square-foot industrial building, located at 2209 Market St. in Baytown, has been sold. David Hummel of Coldwell Banker Commercial United, Realtors' Houston office negotiated the sale between the seller, All Tech Inspection, and the buyer, Texas Colt Services.
CHANDLER, ARIZ. — The 57,038-square-foot Santan Gateway South in Chandler has sold to Eleven Investments LLC for $6.2 million. It is located at 1305-1445 South Arizona Ave. and is anchored by Sam’s Club. The buyer was represented by Matthew Olson of Property Resources Group, LLC. The seller, a special servicing company, was represented by Darren Tappen, Troy Nelson and Scott Nelson of Voit’s Phoenix office.
CARLSBAD, CALIF. — Darwin Technology Center, a 70,456-square-foot industrial/flex building in Carlsbad, has received $4.6 million in first-mortgage refinancing. The loan features a 10-year term and a 30-year amortization schedule. It was arranged by Michael Elmore of NorthMarq’s Los Angeles office through the firm’s relationship with a national bank.
FONTANA, CALIF. — TNP Strategic Retail Trust has sold Chase Bank and Chevron parcels located at Morningside Marketplace in Fontana to a 1031 private real estate investor for an undisclosed sum. The Morningside Marketplace is a Ralph’s-anchored shopping center that was built in 2001.