HOBOKEN, N.J. — Pearson Education, an education textbook company, has signed a 200,000-square-foot lease for its new headquarters in downtown Hoboken. The company will occupy five floors of the Waterfront Corporate III building, which SJP Properties is building. Pearson had planned to move its operations in Upper Saddle River and Old Tappan, N.J. to New York. The company is reported to receive an Urban Transit Hub tax credit of about $66 million for keeping 900 jobs in northern New Jersey. Waterfront Corporate is slated for completion in 2014. Person will begin its relocation the same year.
EXPORT, PA. — Alside, a manufacturer and distributor of exterior residential building products, has opened its 100th supply center in the U.S. and second location in the Pittsburgh area. The new 37,000-square-foot center opened Jan. 2 at 3003 Venture Court in Export. The center includes Alside-manufactured products such as vinyl siding, as well as garage doors, stone, fencing and decking products.
HOUSTON — HFF has arranged the sale of the 344,295-square-foot The Plaza at Enclave, a Class A office building located at 1254 Enclave Pkwy. in Houston's Energy Corridor. The property is fully leased to Dow Chemical Co., Ridgewood Energy, Petrofac and HRT America. Dow is leasing 86 percent of the property. The building is LEED Gold certified and features a 1,434-space parking garage. Dan Miller, Rusty Tamlyn and Trent Agnew of HFF's Houston office represented the sellers, Core Real Estate and BayNorth Capital, in the transaction. Matt Kafka and Wally Reid, also of HFF's Houston office, arranged acquisition financing for the buyer, an affiliate of Tel Aviv, Israel-based Azrieli Group.
HOUSTON — CubeSmart has purchased a 534-unit self-storage facility, located at 1019 W. Dallas St. in Houston. The 47,585-square-foot facility was built in 2004 and designed by Meeks + Partners. Steve Mellon of Grubb & Ellis' Houston office and Pete Williams of the firm's Memphis, Tenn., office represented the seller, Midtown Self Storage, in the transaction.
HOUSTON — Jones Lang LaSalle has arranged a senior mortgage loan for the 312,676-square-foot CITYCENTRE Retail, a Class A retail center in Houston. The center is part of the 1.8 million-square-foot CITYCENTRE, a master-planned community. Tom Fish, Paul House and John Ream of Jones Lang LaSalle's Houston office arranged for AEGON to provide the loan through Transamerica on behalf of the borrower, Midway Cos. and a pension fund advised by L&B Realty Advisors.
DALLAS — Stream Realty Partners has been selected by J.P. Morgan Asset Management, to manage and lease the 1.2 million-square-foot Trammell Crow Center, a Class AA office tower in Dallas' Art District. J.P. Morgan acted on behalf of its institutional investor clients in selecting Stream. The office tower is leased to tenants including Vinson & Elkins, Baker Botts and PricewaterhouseCoopers. Additionally BB&T has leased a full floor of the property and will move in later this year. Sarah Erickson and Ramsey March of Stream Realty's Dallas office will handle leasing services for the property.
SAN ANTONIO — San Antonio-based 4M Realty has brokered the sale of a 42,074-square-foot industrial building, located at 1103 S. Frio St. in San Antonio. Michael Weiss and Sandi Leone of 4M Realty represented the buyer, Bexar County, Texas, in the transaction. The seller was St. Vincent de Paul of the Archdiocese of San Antonio.
CLAREMONT, CALIF. – The 154-unit Claremont Villas senior apartment community has sold to an unnamed buyer for $15.3 million. The complex was built in 1994 and is located at 100 South Indian Hill Blvd. in Claremont. Alex Mogharebi of Hendricks & Partners’ Ontario, Calif., office represented the seller, who was also unnamed.
TEMECULA, CALIF. — First Citizens Bank has purchased a 5,107-square-foot retail building located at 44575 Avenida de Missiones in Temecula for $4.1 million. Brent Bohlken of Grubb & Ellis represented the bank. Brian Bielatowicz of Lee & Associates’ Temecula Valley office represented the seller, Riverside County’s Credit Union, in this transaction.
CASA GRANDE, ARIZ. — Mid-States Services has leased 114,000 square feet at the Central Arizona Distribution Center in Casa Grande. The lease is valued at $2.6 million. The wholesale/retail distributor will be relocating and expanding from a nearby facility. Mid-States’ lease brings the facility’s occupancy to 76 percent. The company was represented by Josh Wyss of Cassidy Turley BRE Commercial. Cushman & Wakefield’s Mark Detmer, Bo Mills, Will Strong and Jackie Orcutt represented Clarion Partners in this lease transaction.