Property Type

COLLIERS LEASES 58,482 SQUARE FEET OF OFFICE SPACE

by admin November 15, 2011

BURLINGTON, MASS. —Colliers International has arranged two office leases totaling 58,482 square feet at New England Executive Park in Burlington. Black Duck Software signed a lease for 29,323 square feet at 8 New England Executive Park. COMSOL Inc. renewed and expanded its lease to 27,159 square feet at One New England Executive Park. Matthew Daniels, John Carroll III and Andrew Whipple of Colliers represented the landlord, Equity Office, in the transaction. T3 Advisors represented Black Duck and COMSOL was represented by Colliers.

November 15, 2011

STUBBLEBINE CO. BROKERS $2M INDUSTRIAL BUILDING SALE

by admin November 15, 2011

WOBURN, MASS. — The Stubblebine Co. has brokered the $2 million sale of 9 Micro Dr., a 28,970-square-foot industrial building in Woburn, Mass. David Stubblebine, James Stubblebine and Micah Stubblebine represented the buyer, Inscribe Inc. They also represented the seller, Wetmore Inc., in the transaction.

November 15, 2011

Hospitality Northeast

INVESTCORP BUYS DEBT USED TO BACK PARAMOUNT HOTEL SALE

by admin November 15, 2011

NEW YORK — Investcorp's real estate arm based in the U.S. has purchased mezzanine debt supported by the 20-story Paramount Hotel in New York City's Time Square. Investcorp bought two existing loans of the mezzanine with a principal balance of $40 million from Fillmore Capital Partners, which was the existing lender for the Paramount at the time of RFR's purchase of the hotel. Highgate Holdings, a national hotel manager, will continue to operate the Paramount on behalf of new ownership.

November 15, 2011

Multifamily Texas

TWO MULTIFAMILY PROPERTIES SELL IN $70.9M PORTFOLIO

by admin November 15, 2011

PASADENA — Marcus & Millichap has brokered the sale of two multifamily properties totaling 982 units in Pasadena, which was part of a $70.9 million multifamily portfolio consisting of properties in Texas and Florida. Jeffrey Meyer of Marcus & Millichap's Tampa, Fla., office represented the seller, a Tampa Bay-based private investor, in the transaction. Sean Shahar Ziv of Marcus & Millichap's San Diego office represented the buyer, a California-based investment firm.

November 15, 2011

Retail Texas

M&M BROKERS $8.4M SALE OF 148,006 SF SHOPPING CENTER

by admin November 15, 2011

ODESSA — Marcus & Millichap has brokered the $8.4 million sale of the 148,006-square-foot Town and Country Shopping Center, located at 2723 N. Grandview Ave. in Odessa. The property was 92 percent leased to tenants including Jason's Deli, World Gym, Tuesday Morning and Harmony School at the time of the sale. Jerry Goldstein of Marcus & Millichap's Houston office represented the seller, a financial institution, in the transaction.

November 15, 2011

Industrial Texas

VIGAVI ACQUIRES 63,550 SF FLEX PROPERTY IN HOUSTON

by admin November 15, 2011

HOUSTON — Vigavi Realty has acquired a 63,550-square-foot flex property, located at 5050 Westway Park Blvd. in the Beltway 8 Corporate Center in Houston. Mark Nicholas and Richard Quarles of Jones Lang LaSalle's Houston office represented the buyer in the transaction. Houston-based Central Management Inc. is now managing the property, which is 100 percent leased to national credit tenants.

November 15, 2011

Retail Texas

NORTHMARQ ARRANGES $7.55M MORTGAGE FOR GULFGATE SQUARE

by admin November 15, 2011

HOUSTON — NorthMarq Capital has arranged $7.55 million in financing for the 70,642-square-foot Gulfgare Square Shopping Center, located at 6800 Gulf Freeway in Houston. David Mott of the NorthMarq's Dallas office arranged the financing through the Wells Fargo CMBS Platform.

November 15, 2011

Multifamily Western

HIGHLAND BRIDGE FLATS LAND SELLS FOR $4.7M

by admin November 15, 2011

DENVER – A 1.02-acre multifamily development site known as Highland Bridge Flats has sold to Holland Partners for $4,750,000. The company plans to develop a 130-unit multifamily complex on the site, which is situated in Denver’s Highland neighborhood. The seller, Advance Property Investors, was represented by Steve O’Dell and Chris Cowan of ARA Colorado.

November 15, 2011

Multifamily Western

KENNEDY WILSON AUCTIONS 29 BROADWAY PARK LOFTS FOR $4.4M

by admin November 15, 2011

SALT LAKE CITY — Kennedy Wilson has offered and sold 29 condominiums in Salt Lake City’s Broadway Park Lofts for $4.4 million. The units were sold at a Salt Lake City auction via the firm’s KW Auction Group. “These auction results demonstrate a developer overcoming the challenges in the current economic environment. Kennedy Wilson succeeded by bringing the developer and the customer together in a competitive marketplace, and with the standing inventory sold, the developer can now move forward with the project,” said Rhett Winchell, president of KW Auction Group, in a statement.

November 15, 2011

Office Western

EC ENGLISH LEASES 16,500 SF OF SANTA MONICA OFFICE SPACE

by admin November 15, 2011

SANTA MONICA, CALIF. — EC English has leased 16,500 square feet at 401 Wilshire Blvd. in Santa Monica. This will be the English language school’s first Los Angeles outpost. The company plans to occupy the space by January 2012. EC English was represented by Dave Toomey and Brian Davies of CresaPartners in Los Angeles. The landlord, Douglas Emmett, was represented in-house by Bob Zelkin.

November 15, 2011

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