LIVINGSTON, N.J. — Jamesburg Realty Partners has purchased four apartment properties in Jamesburg for $2.6 million. The properties include 6-8 Vine St., 16 Lake St., 8 Cherry St. and 123 Stevens Ave. Each of the two-story complexes contain one-bedroom units and on-site parking. Joseph Brecher of Livingston-based Gebroe-Hammer Associates represented the seller, Jamesburg Apartments LLC.
JERSEY CITY, N.J. — Tower Insurance Co. of New York has signed a 10-year lease for 76,892 square feet at Harborside Financial Center in Jersey City. The insurance company will occupy space within Harborside Plaza 2, a 761,2000-square-foot building. Harborside Financial Center is comprised of five office buildings. Mark Ravesloot, Scott Sloves and David Opper of CBRE represented the tenant in the transaction. Mack-Cali Realty Corp. is the landlord.
WILMINGTON, DEL. — Geico and Wells Fargo have signed lease renewals at 919 North Market St., an 18-story office building in Wilmington. Wells Fargo signed a lease extension for 6,251 square feet. Geico, a large insurer and tenant of the building since 1999, extended its lease for 3,497 square feet. Newmark Knight Frank Smith Mack represented the landlord, Keystone Property Group, in the transaction.
IRVING — Irving-based FelCor Lodging Trust Inc. has agreed to sell six non-strategic hotels for $103 million to an undisclosed buyer, which has paid a $3.9 million deposit toward the purchase. After repayment of $73 million of secured debt and closing costs, FelCor expects to use the remaining $30 million to pay a portion of its accrued preferred dividends. The six hotels include the Holiday Inn San Antonio-Airport, as well as five other hotels in Florida, North Carolina and Minnesota. The transaction is slated to close in the second quarter of this year.
HOUSTON — Holt Lunsford Commercial has arranged a 75,354-square-foot lease of industrial space, located at 8000 Market St., Suites 260-280 in Houston. John Kruse of Holt Lunsford's Houston office represented the landlord, TIAA-CREF, in the lease transaction. Clay Peeples and Andy Sowell of Houston-based Boyd Commercial represented the tenant, Smart Rags Recyclers.
HOUSTON — Qdoba Mexican Grill will soon open a 2,667-square-foot restaurant in the 58,279-square-foot HEB Clear Lake shopping center, located near the intersection of Bay Area Boulevard and El Camino Real in Houston. H-E-B Grocery anchors the center, which is currently 89 percent leased to tenants including Papa John's Pizza, Darque Tan, State Farm Insurance and GNC. Ryan Orr of Houston-based Read King represented the tenant in the lease transaction. The landlord, Henry S. Miller Brokerage, was self-represented by Shawn Ackerman and Jason Du of the firm's Houston office.
FORT WORTH — The Erma Lowe Hall, home of Texas Christian University's (TCU) School of Classic and Contemporary Dance on the TCU campus in Fort Worth, has received LEED Gold certification by the U.S. Green Building Council. Michael Bennett of Fort Worth-based Bennett Benner Pettit designed the facility, which features large windows, motion sensors and timers for lighting, locally sourced materials and low-flow water fixtures. Approximately 75 percent of the original building has been used in the design, 75 percent of construction waste has been diverted from the landfill and the water usage has been reduced by approximately 50 percent.
DENVER – The 170-unit Columbine Towers has sold to Agin Family Investments for $8.75 million. This Section 8 apartment community was fully occupied at the time of sale. JB Hochman of Pinnacle Real Estate Advisors represented both the buyer and the seller in this transaction.
DENVER – The Bascom Company has purchased the Hyland Park Centre Apartments in Denver for an undisclosed sum. The company plans to execute a $5-million renovation at the property, which is located at 1800 West 85th Ave. Bascom was represented by Tim Shunta of Unique Properties. The property was purchased from the Colorado Finance and Housing Authority.
LOS ANGELES – The 24-unit Eagle Rock Apartments in Los Angeles has sold to a private investor for $2.4 million. The property was built in 1987 at 1502 El Paso Drive. Tony Azzi of Marcus & Millichap’s West Los Angeles office represented both the buyer and the seller, another private investor, in this transaction.