NEW YORK CITY — NorthMarq Capital has arranged $10.5 million in first mortgage financing for the Gateway building, a 41,832-square-foot mixed-use space located at 127-137 E. 125th St. in New York City. Tenants include Duane Reade, Raymour & Flanagan and NYSARC. Craig Bjornsund of NorthMarq's New York office arranged the financing for the borrower, 125th Street Gateway Ventures, through NorthMarq's correspondent relationship with Symetra Life Insurance Co. The seven-year loan has a 25-year amortization schedule.
HASLET — Invesco Real Estate has purchased a 747,528-square-foot Kraft Distrubution Center, an industrial property located in the Alliance Business Park at 2617 Blue Mound Rd. in Haslet. The property is fully leased to Kraft Foods. Jack Fraker and Josh McArtor of CBRE's Dallas office represented the seller, USAA Real Estate, in the transaction.
HOUSTON — Situs Asset Solutions has arranged the sale of a 57-room Comfort Inn & Suites, located at 3555 FM 1960 in Houston. Stephen Kradjian and Maury Bronstein of Situs' Houston office represented the seller, Champion 3555 FM 1960 W BACM07-02 LLC, in the transaction. Mahul Hajari of Avondale, La.-based Hajari Realty represented the buyer, an out-of-state investor.
KINGWOOD — Cleveland-based Woodside Health has acquired the 29,162-square-foot Kingwood Executive Center, a medical office building complex located at 201 Kingwood Medical Dr. in Kingwood. The two-building property features a koi pond and a garden. Ted Barr of Middleburg Heights, Ohio-based Crescendo Commercial Realty represented the buyer in the transaction. The seller was represented by Grubb & Ellis Co.
DALLAS — ValuePart has renewed and expanded its lease by 22,302 square feet, bringing the total lease to 84,567 square feet, at 9804 Chartwell in Dallas. The landlord, BRE/TX Industrial Properties, was represented by Cannon Green and Seth Koschak of Stream Realty's Dallas office in the lease transaction. Nathan Orbin and Ben Phillips of Jones Lang LaSalle's Dallas office represented the tenant.
MESA, ARIZ. – The 120-unit Sycamore Square Apartments in Mesa has sold to RND6, LLC from Orion Pacific Note Investors, LLC for $6,250,000. The complex was built in 1979 and is more than 90 percent leased. Alon Shnitzer of Marcus & Millichap’s Phoenix office was the transacting broker.
SAN DIEGO — San Diego Miramar College has recently completed its 270,000-square-foot, 828-space parking structure and its 5,108-square-foot police substation. The substation is hoping to receive LEED-Platinum certification. If it does, Miramar College will be the first of San Diego’s higher education institutions to achieve this fete. The $17.9-million project was built by McCarthy Building Companies.
RICHMOND, VA. — Calkain Cos. has brokered the $1.85 million sale of a 2,000-square-foot retail property, located in Richmond. The property is currently leased to KFC on a long-term basis. Rick Fernandez of Calkain Cos.' Reston, Va., office represented the undisclosed seller in the transaction. David Sobelman of Calkain's Tampa, Fla., office represented the buyer, a private investor, in a 1031 tax deffered exchange.
LOUISVILLE, KY. — Louisville-based PRG Investments has negotiated the $1.2 million sale of a 37,000-square-foot industrial property, located in the Bluegrass Industrial Park in Louisville. Reed Weinberg and Fred Sutterlin of PRG Investments represented Republic Bank, the seller, in the transaction. The buyer was Wagner Mechanical.
RICHMOND, VA. — Teton Sales has purchased a 46,000-square-foot office/warehouse property, located at 3703 Carolina Ave. in Richmond, from 3703 Carolina Ave. LLC for $1.05 million. Franklin Bell of Cushman & Wakefield/Thalhimer's Richmond office represented the buyer in the transaction, and Chip Louthan of Richmond-based Grubb & Ellis/Harrison & Bates represented the seller.