MANHATTAN, KAN. —Colorado Springs-based Mortenson Construction has been awarded the Bill Snyder Family Stadium renovation project on the Kansas Sate University campus in Manhattan. The $75 million renovation will include a new student-athlete dining hall, improved concession facilities, luxury seating and a new team store. The renovation is expected to begin in the summer of 2012 and be completed in time for the football season in the fall of 2013.
NEW YORK CITY — Marcus & Millichap has arranged the $8.6 million sale of a five-story, 144-unit apartment building, located at 330-332 W. 51st St. in New York City. Peter Von Der Ahe, Joe Koicim and David Lloyd of Marcus & Millichap's Manhattan office represented the seller, a limited liability company. They also secured the buyer, a developer.
NEW YORK CITY — Endurance Reinsurance Corp. of America has signed a 10-year sublease for 40,500 square feet and a 10-year direct lease for 16,864 square feet at 750 Third Ave. in New York City. The Class A office building, also known as Grand Central Square, is owned by SL Green Realty. Ryan Masiello and Peter Riguardi of Jones Lang LaSalle represented Endurance in the transaction. SL Green was represented in-house by David Kaufman and David Amsterdam.
NEW YORK CITY — A six-story, 51,914-square-foot apartment building has sold for $5.1 million in the Flatbush section of Brooklyn. The 59-unit property is located at 130 Lenox Road. Yosef Katz of GFI Realty Services represented the seller, Patrick James. Erik Yankelovich of GFI represented the buyer, a local Brooklyn investor. The buyer plans to rehab the property and renovate the apartments.
ELECTRA — McCarthy Building Cos. has broken ground on the $11 million renovation and expansion of Electra Memorial Hospital, located at 1207 S. Bailey St. in Electra. McCarthy will construct a 20,890-square-foot addition which will house a rehabilitation department, a computed tomography (CT) imaging area and new patient rooms. The expansion is slated for a spring 2013 completion. Dallas-based Rees Associates is the architect for the project.
OKLAHOMA — Stan Johnson Co. has brokered the $7.5 million sale of five dental clinics, all fully leased to My Dentist, in Oklahoma. The properties are all under new 15-year triple net leases with annual rent increases. Jeff Matulis, Toby Scrivner and Karen Vinsko of Stan Johnson Co.'s Tulsa, Okla., office represented the buyer, a New York-based REIT, and the seller, a Oklahoma City-based developer, in the transaction.
MOORE, OKLA. — The Boulder Group has arranged the $3.48 million sale of a 15,120-square-foot Walgreens, located at 1229 N. Eastern Ave. in Moore. Randy Blankstein and Jimmy Goodman of The Boulder Group's Northbrook, Ill., headquarters represented the seller, an Oklahoma-based developer, in the transaction. The buyer was a Midwest-based investor. Walgreens has 10 years left on the 20-year lease term.
SPRING — Marcus & Millichap has brokered the sale of the 26,876-square-foot Cypresswood Shopping Center, located at 17500 Kuykendahl Rd. in Spring, for $1.85 million. James Bell of Marcus & Millichap's Houston office represented the seller, a private investor, in the transaction. Justin Miller of Marcus & Millichap's Houston office represented the buyer, a Houston-based investment group.
THE WOODLANDS — Moody Rambin Investment Services has secured the sale of two office buildings totaling 22,278 square feet, located at 25301 and 25325 Borough Park Dr. in The Woodlands. The buildings were 92 percent leased at the time of the sale. Christopher Dray of Moody Rambin's Houston office represented the seller, Borough Partners LP, in the transaction. Jody Czajkoski of Moody Rambin's Houston office represented the buyer, I-45 Property Management Inc.
MESA, ARIZ. – Mitel has signed a 10-year lease for 83,264 square feet of office space at Riverview Point in Mesa. The company will use the space for its new U.S. headquarters. The office building was constructed in 2009 as part of the master-planned Mesa Riverview Project. Mitel was represented by Robert Stephens, Kurt Saulnier and Tricia Gumulka of Grubb & Ellis’ Industrial Group, along with Steven Morgan of the firm’s Atlanta office. Bryan Taute and Michael Strittmatter of CBRE acted on behalf of the building’s landlord, private investors.