Property Type

HUDSON REALTY ARRANGES $5.4M IN FINANCING

by admin April 13, 2012

NEW YORK CITY — New York City-based Hudson Realty Capital has arranged a $5.4 million bridge and construction loan for an apartment building in Brooklyn. The borrower, a developer and multifamily operator, used the funds to purchase the property and complete construction of the building. The 24-unit complex is located in Prospect Heights, a Brooklyn submarket. The New York City's Department of Buildings halted construction on the building in 2006 when a work-stop order was placed against the original developer.

April 13, 2012

SEASONS 52 PLAN NEW RESTAURANT IN EDISON

by admin April 13, 2012

EDISON, N.J. — Seasons 52, a fresh grill and wine bar, plans to open a new location in Edison in the spring of 2013. The two-story restaurant will be located at Menlo Park Mall on the corner of Parsonage and Lafeyette roads. The restaurant will contain 12,000 square feet and include five private dining rooms as well as a chef's table. Seasons 52 is known for its seasonally inspired menu, which changes four times per year. Nothing on the menu is more than 475 calories. The Edison restaurant will also feature a custom-built wine cellar and piano bar with live music nightly.

April 13, 2012

Industrial Northeast

CONTAINER MANUFACTURER SIGNS NEW LEASE IN N.J.

by admin April 13, 2012

SPRINGFIELD, N.J. — Ring Container Technologies, a plastic container maker, has signed a 64,338-square-foot lease at 50-52 Fadem Rd. in Springfield. The company plans to use the space to manufacture containers for the food industry. Barry Cohorsky of NAI Hanson's Hackensack, N.J. office represented the tenant in the transaction. Douglas Bansbach of Cassidy Turley represented the landlord, Bristol Group.

April 13, 2012

Retail Texas

TRADEMARK, IMI PURCHASE TWO RETAIL CENTERS

by admin April 13, 2012

CORPUS CHRISTI — Fort Worth-based Trademark Property, in a joint venture with Institutional Mall Investors (IMI), has acquired the 15.53-acre Staples Center and the 3.81-acre Mt. Vernon Center, located directly across from La Palmera Mall in Corpus Christi. The retail centers will undergo a rebranding and renovation, ultimately being named The Shops at La Palmera and totaling approximately 200,000 square feet. The redesign and renovations are slated to begin in late 2012 with a 2013 completion. Trademark will lease and manage the center.

April 13, 2012

Office Texas

TCC, PREI ACQUIRE FUTURE OFFICE BUILDING SITE

by admin April 13, 2012

HOUSTON — Trammell Crow Co. (TCC) and Principal Real Estate Investors (PREI) have purchased an 18.9-acre site, located at the southwest corner of Interstate 10 and North Eldridge Parkway in Houston's Energy Corridor. The site will be the home of a multi-phase development that will include up to 1.5 million square feet of Class A office space. The first phase will be a 530,000-square-foot office building and a nine-level, free-standing parking garage. Amenities will include a double-height lobby, a fitness center, a conference center and a dining facility. Houston-based Kirksey Architects is designing the property to achieve LEED Gold certification. Construction is slated to begin late 2012 with a late 2014 delivery. Aaron Thielhorn, Kevin Schmok and Brandon Houston of TCC's Houston office will lead the development team.

April 13, 2012

Office Texas

NAI ROBERT LYNN BROKERS 307,745 SF LEASE

by admin April 13, 2012

ARLINGTON — Dallas-based NAI Robert Lynn has arranged a 307,745-square-foot lease of office/warehouse space, located at 3000 E. Pioneer Parkway in Arlington. Craig Jones of NAI Robert Lynn represented the tenant, Automotive Parts Distribution International, in the lease transaction. Canon Green and Bates Arnot of Stream Realty's Dallas/Fort Worth office represented the undisclosed landlord.

April 13, 2012

Office Texas

HINES ARRANGES LEASE IN PHOENIX TOWER

by admin April 13, 2012

HOUSTON — Houston-based Hines has brokered WorleyParson's lease of 50,716 square feet of office space in the 629,000-square-foot Phoenix Tower, a 34-story office tower located at 3200 Southwest Freeway in Houston. Lou Cushman and Courtney Estenson of Cushman & Wakefield of Texas' Houston office represented the tenant in the lease transaction. Paula Burns and Tyler Garrett of Hines represented the landlord, FSP Phoenix Tower Limited Partnership.

April 13, 2012

Office Texas

S&P WINS $14.5M BID FOR OFFICE BUILDING RENOVATION

by admin April 13, 2012

AUSTIN — The Texas Facilities Commission has awarded Satterfield & Pontikes Construction (S&P) a $14.5 million project for removing and replacing all exterior panels from the Robert D. Moreton building, an office building located in central Austin. Completion of the renovation is slated for spring 2014.

April 13, 2012

Mixed-Use Western

PREFERRED CAPITAL ARRANGES TWO CONSTRUCTION LOANS TOTALING $44.5M

by admin April 13, 2012

SACRAMENTO, MOUNTAIN VIEW, CALIF. — Matt Swanston of Preferred Capital Advisors has arranged two ground-up construction loans totaling $44.5 million. A $27-million loan was allocated for a 70,232-square-foot, build-to-suit facility in Mountain View for Nuance Communications. The project is located at 899 West Evelyn Road. A $17.5-million loan was also provided for an 84-unit mixed-use urban project at 16th and “O” streets in Sacramento. Both loans were provided by national banks.

April 13, 2012

Multifamily Western

SHERMAN OAKS LAND LOT GOES FOR $4.2M

by admin April 13, 2012

SHERMAN OAKS, CALIF. – A 2.37-acre lot of land in Sherman Oaks has sold to IMT Capital for $4,275,000. The property, located on Magnolia Boulevard just west of Van Nuys Boulevard, is zoned for a combination of single-family homes and multifamily dwellings. Both the buyer and the seller, a private family trust, were represented by Clark and William Everitt of The Everitt Group.

April 13, 2012

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