BROOKLYN — CPEX New York has arranged the $3.65 million sale of 116 3rd Place, a 9,106-square-foot condominium in Brooklyn. Brian Leary and Ira Krivit represented the seller, TD Bank N.A., in the transaction. They also procured the buyer, a local investor.
PHILADELPHIA — Thomas Properties Group has signed Ernst & Young, an assurance, tax and advisory services firm, to a 74,240-square-foot lease at the One Commerce Square building in Philadelphia. A tenant in the adjoining twin Two Commerce building since 1992, Ernst & Young is relocating more than 800 professionals from its current space. Joe McManus and Morgan Murray of Thomas Group Properties represented Ernst & Young in the transaction.
ARDSLEY, N.Y. — Rand Commercial Services has closed the $3.9 million sale of an 80,000-square-foot warehouse in Ardsley, N.Y. Paul Adler and Ann Silver of Rand Commercial's White Plains, N.Y. office represented both parties in the transaction. The buyer was Elm Street Sport Group LLC.
HOUSTON — Sugar Land-based American Commercial Contractors has commenced construction on Houston-based DataVox's $10 million, 48,000-square-foot corporate headquarters, located along West Sam Houston Parkway near Bellaire Boulevard in Houston. The three-story building will feature a three-story glass curtain wall atrium, sky bridges, a large server room, a networking operational center and a warehouse. The new headquarters are slated for completion in September 2012.
HOUSTON — TPG/CalSTRS LLC, an affiliate of Los Angeles-based Thomas Properties Group, has sold the 578,284-square-foot 2500 CityWest Boulevard, an office building located in Houston for $16 million. The property recently received LEED Silver certification. The sale also includes adjacent land parcels totaling 6.3 acres.
MIDLAND — Marcus & Millichap has arranged the $7.7 million sale of the 107,531-square-foot Colonnade at Polo Park, a shopping center located at 4610 N. Garfield St. in Midland. The property was 70 percent leased at closing to tenants such as Men's Wearhouse, Jason's Deli, Abuelo's Mexican Restaurant, Tuesday Morning and Golf Headquarters. Jerry Goldstein of Marcus & Millichap's Houston office represented the seller, a financial institution.
HOUSTON — The Admiral Capital Real Estate Fund, founded by NBA hall of famer David Robinson, has acquired the majority equity interest in the 190-room Hilton Garden Inn, located at 12245 Katy Freeway in Houston's Energy Corridor, for an undisclosed price. Houston-based American Liberty Hospitality will continue to manage and partially own the hotel.
AUSTIN — HFF has facilitated refinancing for the 184-unit Waters Edge Apartments, a multifamily property located at 12330 Metric Blvd. in Austin. The property is comprised of seven buildings and features a two-story fitness pavilion, resort-style pool, business center and entertainment room. Waters Edge is currently 95 percent occupied. Cortney Cole of HFF's Houston office arranged the 7-year loan through Freddie Mac on behalf of the borrower, Houston-based Venterra Realty.
ONTARIO, CALIF. — Philadelphia Place Business Park, a 45,907-square-foot, Class A industrial facility in Ontario, has sold to Summit Machine for $3,940,000. The automotive parts manufacturer will utilize the property for its operations. Jeff Smith and John Seoane of Lee & Associates’ Ontario office represented the seller, Lampson Beach Properties, in this transaction.
HUNTINGON BEACH, CALIF. – The 5 Points Plaza in Huntington Beach has welcomed five new tenants that will occupy a total of 23,153 square feet, bringing the center to 97 percent occupancy. The new tenants include Charming Charlie, which signed a 10-year lease for 11,600 square feet; Kahoots Pet Store, which signed a 10-year lease for 7,311 square feet; CloudMover Day Spa, which signed a five-year lease for 1,920 square feet; Bliss Nails and Spa, which signed a 10-year lease for 1,166 square feet; and the Original Bold Fold, which signed a 10-year lease for 1,156 square feet. Sharon Courtway of Present Value Properties represented 5 Points Plaza in all five lease transactions.
