Property Type

PARTNERSHIP BUYS BRONX MIXED-USE BUILDING

by admin March 21, 2012

NEW YORK CITY — A partnership has acquired a 300,000-square-foot building located at 1775 Grand Concourse in the Bronx. The buyers include James Houlihan of Houlihan Parnes Realtors and Sam Jemal, Joseph Jemal and David Jemal of JJ Operating Corp. Recently, the property was rezoned and approved for parking on the lower level and for office use on floors 4-8. Each floor contains 40,000 square feet, and about 220,000 square feet will be available for lease. Verizon will occupy two levels of the building. The partnership plans to invest $5 million in building renovations, including new lobby elevators and retail fronts. The purchase price was undisclosed.

March 21, 2012

MARCUS & MILLICHAP ARRANGES SALE OF BROOKLYN APARTMENT BUILDING

by admin March 21, 2012

NEW YORK CITY — Marcus & Millichap Real Estate Investment Services has arranged the $700,000 sale of an 8-unit apartment building in Brooklyn. The property is located at 248 Stockholm St. Erik Lundberg of Marcus & Millichap's Brooklyn office represented the seller, a private investor. He also represented the buyer, a private investor.

March 21, 2012

Multifamily Northeast

CONDO PROJECT IN QUEENS SECURES $14.5M BRIDGE LOAN

by admin March 21, 2012

NEW YORK CITY — Madison Realty Capital has closed a $14.5 million bridge loan for a 90,000-square-foot condominium construction project in Kew Gardens.The project includes 52 residential units, an 8,224-square-foot community center and a 52-space parking garage. The financing provided by MRC enables the borrower to recapitalize and complete the project.

March 21, 2012

Industrial Northeast

RESEARCH FIRM RENEWS LEASE IN ANDOVER

by admin March 21, 2012

ANDOVER, MASS. — Physical Sciences Inc., a research and development firm, has signed a 65,000-square-foot lease renewal at the New England Business Center in Andover. Physical Sciences fully occupies Building 20, which includes 49,000 square feet of office space and 16,000 square feet of laboratory space. Michael Dalton of Cassidy Turley FHO's Boston office represented the tenant in the transaction. Kerry Hawkins and Andrew Majewski of CBRE's Boston office represented the landlord, New Boston Fund Inc.

March 21, 2012

Mixed-Use Northeast

RETAIL, R&D PROPERTY SELLS FOR $4.3M IN BOSTON

by admin March 21, 2012

BOSTON — New York-based Shire Real Estate has purchased 961 Commonwealth Ave. in Boston for $4.3 million. The 15,000-square-foot property includes retail and research and development/laboratory space. Tenants include Qdoba Mexican Grill and Brigham & Woman's Hospital Inc. Bradford Spencer of Grubb & Ellis represented the seller, Commonwealth Avenue Realty Trust, in the transaction.

March 21, 2012

Multifamily Texas

THE LEXINGTON APTS. SELLS

by admin March 21, 2012

GRAND PRAIRIE — The 164-unit Lexington Apartments, located at 201 W. Tarrant Rd. in Grand Prairie, has been sold. The property is currently 90 percent occupied. Sam Pettigrew of Dallas-based The Cantrell Company & Partners represented the buyer, Lexington Prairie LP, and the seller in the transaction.

March 21, 2012

Retail Texas

NET REALTY ARRANGES SHOPPING CENTER SALE

by admin March 21, 2012

CARROLLTON — Net Realty Advisors has brokered the sale of the 14,336-square-foot Shops at Mercer Crossing, a shopping center located at Luna Road and Valley View Lane in Carrollton. The property was 40 percent leased at the time of the sale to tenants such as Subway, b.b. bop and All Dogs Unleashed. Gavin Kam and Brad Kam of Net Realty Advisors were the sole brokers in the transaction. The buyer is a West Coast-based investor and the seller is a local retail developer.

March 21, 2012

Retail Texas

WOODLAND PROPERTY BROKERS RETAIL SALE

by admin March 21, 2012

AUSTIN — Austin-based Woodland Property Group has arranged the sale of 2324 South Lamar, a retail property located in Austin. William Stringer of Austin-based Ausvest Commercial/Investment Real Estate represented the seller in the transaction. Blair Helgren of Woodland Property Group represented the buyer, an Austin-based real estate investment group.

March 21, 2012

Office Texas

NAI ROBERT LYNN ARRANGES OFFICE/WAREHOUSE LEASE

by admin March 21, 2012

IRVING — Dallas-based NAI Robert Lynn has brokered a 54,047-square-foot lease for office/warehouse space, located at 2205 E. Pioneer Dr. in Irving. Robert Blankenship and Jim Svidron of NAI Robert Lynn represented the tenant, Arbor Commercial Carpet, in the lease transaction. Chris Bly with Proterra Properties' Arlington office represented the landlord, Dallas Southern Distributors.

March 21, 2012

Retail Texas

FASHION BOUTIQUE TO RELOCATE TO WEST 7TH

by admin March 21, 2012

FORT WORTH — Lane-Knight has plans to relocate its Camp Bowie Boulevard store to a 1,411-square-foot location on Crockett Street in West 7th, a 13-acre mixed-use development in Fort Worth. The boutique is slated to open in late summer 2012. Frank Bullock and Carey Shagets of SRS Real Estate Partners' Dallas/Fort Worth office, along with Roger Chieffalo of Fort Worth-based Chieffalo Realty, represented both the landlord and tenant in the lease negotiations.

March 21, 2012

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