CHICAGO — NhuLan's Saigon Subs, an offshoot of Lincoln Square's NhuLan Bakery, will open at 604 W. Belmont in Chicago's East Lakeview neighborhood early next year. The property formerly housed Cloud 9, a shaved ice shop. Jarrett Fradin of Kudan Group represented the seller, Kenny Tsai, in the transaction. Fradin also represented the buyer, Lee Tran.
JERSEY CITY, N.J. — Manulife Real Estate, the global real estate arm of Canada-based Manulife Financial Corp., has purchased 10 Exchange Place, a 30-story office tower in Jersey City. The property sold for a reported $285 million. The fully leased property has a tenant roster that includes ACE Insurance, Goldman Sachs and Amazon.com. Andrew Merin, David Bernhaut, Gary Gabriel, Kyle Schmidt and Brian Whitmer represented the seller, a client of Invesco, in the deal.
ROSELAND, N.J. — 56 at Roseland, a 433,945-square-foot office building at 56 Livingston Ave. in Roseland, has sold for $18.1 million. The property was acquired by a partnership between Mountain Development Corp. and Square Mile Capital Management. The vacant building includes more than $50 million of recent infrastructure investment by the previous owner, Merck & Co. Inc. The new owners retained Jones Lang LaSalle to lease the space.
STAMFORD, CONN. — SL Green Realty has secured an $86 million senior mortgage loan for Landmark Square, an 862,000-square-foot mixed-used property in Stamford. SL Green has completed several upgrades to the property since 2007 and is underway with a major capital improvement plan. AIG Asset Management provided the five-year fixed-rate loan on behalf of a wholly owned life insurance subsidiary of American International Group. Steven Kohn, Alex Hernandez, Christopher Moyer and Sridhar Vankayala of Cushman & Wakefield Sonneblick Goldman arranged the financing.
YONKERS, N.Y. — Express Cabinets Inc., a kitchen cabinetry manufacturer, is relocating its operations from 310 Sherman Ave. in Newark to 630 Central Park Ave. in Yonkers. The company purchased a 200,000-square-foot industrial building for $7.6 million. William Cuddy, Jr. and Budd Wiesenberg of CBRE's Stamford office represented the seller, Stewart EFI. Express Cabinets will move into the building in the spring of 2012.
FORT LEE, N.J. — Developer BNE Real Estate Group has broken ground on Twenty50, a $70 million luxury residential building in Fort Lee. The 12-story building, located at 2050 Central Rd., will include 194 one- and two-bedroom rental units. Amenities will include resident lounges and an outdoor pool. The building was designed by Lessard Design Group and is slated for completion in September 2013.
DALLAS — Arlington-based Ascension Group Architects has finished the $98 million expansion of Forest Park Medical Center, located at 11990 N. Central Expressway in Dallas. The expansion included three additions: a 125,000-square-foot surgical facility, a 138,000-square-foot facility connecting to the hospital through the lobby and a 780-vehicle parking garage with a covered walkway. Adolfson & Peterson Construction served as the general contractor.
DALLAS — Houston-based Boxer Property has purchased two office properties totaling 205,941 square feet, located at 13140 Coit Rd. and 14800 Quorum Rd. in the Quorum Business Park in north Dallas. The Coit Road building, also known as Office Alpha, is currently 84 percent leased and 14800 Quorum is currently 96 percent leased. Mike Hardage and Steve Simon of Transwestern's Dallas office represented the seller, KBS Realty Advisors, in the transaction. Boxer Property was self-represented.
ODESSA — American Realty Capital Healthcare Trust has purchased a ground leasehold interest in the 230-bed Odessa Regional Medical Center, an on-campus medical office building fully leased to Odessa Regional Hospital located at 520 E. Sixth St. in Odessa, for $7.4 million. The tenant lease expires in May 2023 and the ground lease expires in July 2057.
HOUSTON — Jones Lang LaSalle has arranged the sale of the 168,956-square-foot 1800 Bering, a 10-story Class B office building located in Houston's San Felipe/Voss submarket. JLL also arranged debt financing for the buyer, Bering Office Partners LLC, a joint venture between Harbert United States Real Estate Fund IV and Houston-based Fuller Realty Advisers. Rudy Hubbard, Paul House and Leah Gallagher of JLL's Houston office arranged the financing.