HOUSTON — Locally based brokerage firm Finial Group has arranged the sale of a 19,259-square-foot industrial building in northwest Houston. The building at 6606 Gessner Road sits on 1.5 acres and includes outdoor storage space. Jason Gibbons and Christian Villarreal of Final Group represented the seller in the transaction. Christy Bowen of Fox & Graham Real Estate represented the buyer. Both parties requested anonymity.
HOUSTON — Accounting firm Abbott & Associates has signed a 4,848-square-foot office lease renewal in southeast Houston. According to LoopNet Inc., the building at 12600 N. Featherwood Drive was built in 1987 and totals 75,166 square feet. Ryan Hartsell of locally based brokerage firm Oxford Partners represented Abbott & Associates in the lease negotiations. Ryan Clark of The Mission Cos. represented the landlord.
MICHIGAN — District Capital has arranged a $10.6 million loan for the acquisition of a 205,000-square-foot industrial property in Michigan. Dave Dismondy of District Capital arranged the nonrecourse loan, which features a 60 percent loan-to-value ratio and an 80 percent loan-to-cost ratio. A life insurance company provided the loan. The borrower was undisclosed.
WEST DES MOINES, IOWA — CBRE has opened a new 8,000-square-foot office on the second floor of 595 Tower, which is located at 595 S. 60th St. in West Des Moines. The firm has relocated from the Hubbell Realty Co. building at 6900 Westown Parkway. The new office is part of CBRE’s Workplace360 program, showcasing the company’s “Future of Work” space standards, including innovative technology and a wider variety of collaborative spaces designed to support hybrid working. CBRE launched its Workplace360 program in 2013 and has since opened more than 100 of these offices worldwide. A cornerstone of the model is the “free address” approach where there is no assigned seating. The Des Moines office is equipped with technology for chat and video applications, a large media display for company announcements and a RISE café. There are several pieces of artwork from local artists, Tom Gross and Candice Luten. The conference room names are based on the three local counties where CBRE is most active — Dallas, Jasper and Polk.
HAMMOND, IND. — Marcus & Millichap has brokered the sale of the Fairfield Inn & Suites Southeast | Chicago for an undisclosed price. The 94-room hotel is located at 7720 Corinne Drive in Hammond, a city in Northwest Indiana. The four-story property features an indoor breakfast area, fitness center, meeting space, laundry facility, dry cleaning service and convenience store. The hotel will undergo a full renovation in the coming year. Ebrahim Valliani and Michael Klar of Marcus & Millichap represented the buyer and seller, both of which were private investors. Marcus & Millichap’s Chris Gomes and Allan Miller were listed on the deal as supporting brokers, and Josh Caruana, the firm’s broker of record in Indiana, assisted in closing the transaction.
SOUTHFIELD, MICH. — Friedman Real Estate has negotiated the sale of a 60,000-square-foot office building in Southfield for an undisclosed price. The property at 19900 W. Nine Mile Road was formerly home to Specs Howard School of Media Arts. Dan Verderbar of Friedman represented the undisclosed seller. Life Skills Village, an outpatient mental health and rehabilitation facility, will occupy the building.
NEW YORK CITY — Slate Property Group has received a $97 million loan for the refinancing of The Yellowstone, a 166-unit multifamily project located in the Forest Hills area of Queens. Designed by Aufgang Architects, the newly built property offers one- and two-bedroom units that range in size from 475 to 950 square feet and feature stainless steel appliances, granite countertops and backsplashes, as well as individual washers and dryers. Select units also have private balconies. Amenities include a fitness center, lounges and a rooftop terrace, and the building’s retail space houses a Trader Joe’s grocery store. Daniel Fromm of Newmark arranged the five-year, fixed-rate loan through Apollo Global Management on behalf of Slate.
SECAUCUS, N.J. — Kids apparel retailer The Children’s Place has signed a 120,000-square-foot office lease renewal at 500 Plaza Drive in the Northern New Jersey community of Secaucus. The Children’s Place has been a longtime tenant at the 466,496-square-foot building, which is located within the 200-acre Harmon Meadow campus. David Stifelman and Timothy Greiner of JLL represented the landlord, Manulife Investment Management, in the lease negotiations. David Goldstein and Gregg Najarian of Savills represented the tenant.
NEW YORK CITY — Alchemy Ventures has purchased a 36-unit multifamily property located at 310 W. 80th St. on Manhattan’s Upper West Side for $11.2 million. The six-story building was originally constructed in 1910 and houses an equal mix of studios and one-bedroom apartments. John Stewart and Dylan Torey of Marcus & Millichap represented the seller, an undisclosed private investor, in the transaction and procured Alchemy Ventures as the buyer. ax Herzog and Marko Kazanjian of Institutional Property Advisors, a division of Marcus & Millichap, arranged acquisition financing for the deal.
HARTFORD, CONN. — Regional brokerage firm Northeast Private Client Group (NEPCG) has negotiated the sale of a portfolio of two apartment buildings totaling 52 units in Hartford. The building at 17 Marshall St. features 12 studios and 13 one-bedroom units, and the building at 50 Gillett St. houses 16 one-bedrooms, eight two-bedrooms and three commercial spaces. Taylor Perun and Cameron Formica of NEPCG represented the seller and procured the buyer, both of which requested anonymity, in the transaction.