NEW YORK CITY — Berkadia Commercial Mortgage closed on a $50 million mortgage loan for the refinancing of a 10-property multifamily portfolio in Manhattan. Stewart Campbell and Thomas Toland of Berkadia's New York office arranged the loan for the borrower, EGA 99 LLC, through Fannie Mae. The 10-year loan has a 30-year amortization schedule.
PHILADELPHIA — Philadelphia Media Network (PMN), owner and publisher of The Philadelphia Inquirer, Daily News and Philly.com, has leased 125,000 square feet of office space at 801 Market St. in Philadelphia. The building anchors the Gallery at Market East, both owned by Pennsylvania Real Estate Investment Trust. PMN is expected to move from 400 N. Broad St. to its new headquarters in the summer of 2012.
DALLAS — M-M Properties has purchased the 1.2 million-square-foot Plaza of the Americas, a mixed-use property located in Dallas' Central Business District, in a partnership with a client of Dallas-based Invesco Real Estate. Plaza of the Americas features two 25-story office towers, a 12-story parking garage, a separately owned Marriott Hotel and 140,000 square feet of restaurants and shops. HFF's Dallas office arranged acquisition financing in the transaction and represented the seller. Dallas-based Peloton Commercial Real Estate has been retained as the exclusive leasing agent for the property and M-M will provide property management services.
AUSTIN — Houston-based GSL Welcome Group has acquired the 54,865-square-foot Tuscany Technology Center 4, an office property located at McShane's Tuscany Center at Walnut Creek at 8325 Tuscany Way in Austin. Walter Saad and Cathy Nabours of CBRE's Austin office, along with Todd Mills of the firm's San Antonio office, represented the seller, McShane Development Co., in the transaction. Jim Gibson of Stan Johnson Co.'s Houston office and Craig Tomlinson of the firm's Tulsa, Okla., office represented the buyer. Gila, LLC. has leased the single-story development, which features 24,500 square feet of office space and 30,365 square feet of call center, breakroom and storage space.
SAN ANTONIO — Marcus & Millichap has arranged the sale of the 40,800-square-foot Rilling Road Industrial, an industrial property located at 1303 Rilling Rd. in San Antonio. Joshua Swank of Marcus & Millichap's San Antonio office and Greg Gaynor of the firm's Austin office represented both the buyer and seller, both private investors, in the transaction.
HOUSTON — Moody Rambin Investment Services has brokered the sale of the 3,300-square-foot 1017 Heights Blvd., an office building located in Houston's Historic Heights neighborhood. Christopher Dray of Moody Rambin's Houston office represented the seller, the Law Offices of Jed Silverman, in the transaction. The buyer was Johnson, Johnson, and Baer, P.C.
DALLAS — Orlando, Fla.-based CNL Commercial Real Estate has been chosen as the property management provider for the 170,000-square-foot Old Parkland, an office property comprised of four buildings located at 3819 Maple Ave. in Dallas. An affiliate of Crow Holdings acquired the property in 2006 and reopened it in 2009. The property was designated a Dallas Historic Landmark in 1987.
MISSION VIEJO, CALIF. — The 52,091–square-foot Mission Foothills Professional Building in Mission Viejo has sold to Providence Mission Foothills for $6.5 million. Providence plans to lease the vacant space inside the Class A office building. The company was represented by Stan Tomer of CBRE. Dan Vittone, Alan Pekarcik and Tim Walker of Voit’s Irvine, Calif., office represented the seller, special servicer Orix Capital Markets, LLC.
PHOENIX — Higley Village, a 44,484-square-foot mixed-use plaza in Phoenix, has sold to Jorde Hacienda for $3,750,000 million. The plaza includes 22,527 square feet of retail space throughout three buildings, 21,957 square feet of office space throughout three other buildings, a 3.53-acre parcel that will house a gas/convenience/fast food stop and a .70-acre pad that will house a 33,061-square-foot office building. Higley Village was built in 2007. The retail portion was 31 percent occupied and the existing offices were 80 percent occupied at the time of sale. Jorde Hacienda intends to stabilize and hold the property. Kevin Petersen of Petersen Properties & Management represented Jorde Hacienda. Rick Danis, Paul Boyle, Ryan Schubert and Michael Hackett with Cassidy Turley BRE Commercial’s Capital Markets Group represented the seller, Meridian Bank.
HUNTINGTON BEACH, CALIF. — A new 34,000-square-foot Nordstrom Rack is set to open at Edinger Plaza in Huntington Beach. The store is scheduled to open in fall 2012. Edinger Plaza’s other anchor tenants include Dick’s Sporting Goods, Michaels and PetSmart. The plaza is managed and leased by Watt Companies.