BASKING RIDGE, N.J. — Matheson Tri-Gas, a specialty and industrial gas producer, has expanded its U.S. headquarters and signed an 11-year lease extension in Basking Ridge. The company expanded its lease by 10,000 square feet, for a total of 33,000 square feet, at 150 Allen Rd. Brian Lynch and Peter Rasmusson of Lee & Associates represented the tenant in the transaction. The building's owner, the Silverman Group, was represented in-house by Toby Nelson.
NEW YORK CITY — The Alcazar, a 26-unit apartment property at 15 Wadsworth Ave. in New York City, has sold for $3.8 million. Peter Von Der Ahe, Scott Edelstein and Sean Lefkovits of Marcus & Millichap's Manhattan office represented the seller, a limited liability company. They also secured the buyer, a limited liability company.
PHILADELPHIA — Retailer Five Below has signed a new 34,500-square-foot, 10-year office lease at 1818 Market St. in Philadelphia. The location will serve as the company's new corporate headquarters. Five Below merchandise is geared to the teen and pre-teen markets. The lease includes an option to expand to a total of 60,000 square feet on two floors. With the addition, 1818 Market is 83 percent leased. The landlord is Daymark Realty Advisors.
PLANO — A new joint venture between Dallas-based Hines and institutional investors advised by J.P. Morgan Asset Management-Global Real Assets have acquired the 215,499-square-foot The Plaza at Legacy, an office building in the Legacy Business Park in Plano. The acquisition also includes a 12-acre adjacent land parcel. Hines developed the property as a build-to-suit for Computer Associates in 2001 and sold the asset to ING-Clarion in 2004 but continued to manage the property until 2006. Jones Lang LaSalle's Houston Real Estate Investment Banking team advised Hines in the joint venture equity and debt. Computer Associates has reconfigured its space renewed its lease for 43 percent of the property in a 10-year deal, leaving approximately 120,000 square feet of space available for multiple tenants. Computer Associates' reconfiguration has led to a repositioning of the office building, which will include upgrading the lobby, adding a deli/sundry store, adding a fitness center and upgrading common areas on each floor. The retrofit is slated for an end of 2012 completion and is being financed by U.S. Bank. Hines is co-marketing the available office space with Cassidy Turley.
KELLER — Cadence McShane Construction Co. has been selected to construct the 78-unit Legacy at Bear Creek, a 51,000-square-foot assisted living and memory care facility located on 6.8 acres at Keller Smithfield Road in the Keller Town Center, a 340-acre mixed-use planned development in Keller. McShane's co-developers are PinPoint Commercial and The 410 Group and Wakefield Beasley & Associates is the project's architectural firm. The property will have a retention pond, outdoor seating areas and walking trails within two courtyards. The facility is slated for a December 2012 completion.
PLANO — Beech Street Capital has closed an $8.25 million Fannie Mae conventional loan to refinance the 232-unit Woodlands of Plano, an apartment complex located in Plano. Joel Mazur of Beech Street's Bethesda, Md., office originated the 5-year financing. The property features 51 two-story buildings and laundry facilities.
DALLAS — Pie Five Pizza Co. has opened its fifth location, a 2,100-square-foot restaurant located at 15250 North Dallas Parkway in Dallas. The restaurant is the fifth restaurant in the chain's 7 months of operation. There are currently two other Pie Fives in construction in Carrollton and Arlington, and the company hopes to have eight locations by its 1-year anniversary in June.
PEARLAND — Harbor Freight Tools has opened a 14,330-square-foot store at Pearland Plaza, located at East Broadway Street and Barry Rose Road in Pearland. Brixmor Property Group, the landlord, was self-represented by Dianne Colella in the lease transaction. Branson Edwards of Grubb & Ellis' Chicago office represented the tenant.
SANTEE, CALIF. – A 14,758-square-foot building that is currently occupied by Walgreens has sold to Santee CL, LLC with Mabie & Mintz as a general partner. The property was sold for $8.7 million from its original developer, Interra-Vision, LLC c/o Interra Development Partners, LLC. The acquisition was included as part of an exchange from the buyer’s sale of the Colima Linda Apartments in San Diego. Santee CL was represented by Cassidy Turley BRE Commercial’s Chris Rink. Daniel Hyman of Millennium Properties represented Interra-Vision in this transaction.
LITTLETON, COLO. – The 24-unit Bow Mar Apartments in Littleton has sold to the Rocky Mountain Center for the Blind for $2,415,000. It was built in 1997, and will be occupied by students attending the Colorado Center for the Blind. The Center for the Blind was represented by RC Myles and Craig Myles of Cassidy Turley Fuller Real Estate. Bryan Sperry and Kevin Kohn of Sperry Properties represented the seller, Friendly Property LLC, in this transaction.