GALVESTON — Grandbridge Real Estate Capital has secured a $16.4 million construction/permanent loan for an 85-room Marriott Courtyard and an 88-room TownePlace Suites, both located in Galveston. Gary Dunkum of Grandbridge's Houston office arranged the financing with an 18-month term for construction and a 5-year permanent loan with a 24-year amortization schedule through one of Grandbridge's correspondent lenders.
FORT WORTH — Harvey, La.-based Hydradyne Hyrdraulics has purchased a 171,065-square-foot industrial building, located at 4301 Empire Rd. in Fort Worth. Tom Walrich, Mark Graybill and Donnie Rohde of Lee & Associates' Dallas office represented the seller, Scottsdale, Ariz.-based Harmony Asset Management, in the transaction. Dave Anderson of CBRE's Dallas office represented the buyer.
FORT WORTH — The Weitzman Group has arranged the sale of the 33,127-square-foot Basswood Crossing, a shopping center located at 7451 N. Beach St. in Fort Worth. Greg McDonald of The Weitzman Group's Dallas/Fort Worth office represented both the buyer, Dallas-based BasswoodBeach Crossing, Ltd., and the seller, Dallas-based Basswood Crossing Limited Partnership. The shopping center includes tenants such as CiCi's Pizza, O'Reilly Auto Parts, Great Clips and Paradise Tan.
LAKE WORTH — NorthMarq Capital has arranged $2.6 million in first mortgage financing for Staples and Applebees locations in Fort Worth. The two merchants occupy a combined 28,500 square feet of retail space. Ronald Reese of NorthMarq's Dallas office and Gary Cohen of the firm's north New Jersey office arranged the financing on a 10-year term with a 20-year amortization schedule through Symetra Life Insurance Co. on behalf of the borrower, Sachs Investing Co./Palin Enterprises.
SAN ANTONIO — San Antonio-based Ironsight Properties has purchased a 11,500-square-foot office building, located at 14414 Blanco Rd. in San Antonio, from San Antonio-based GSSW EC Ventures. Sandi Leone of 4M Realty's San Antonio office represented the buyer in the transaction, and Carrie Caesar of CBRE's San Antonio office represented the seller.
EL SEGUNDO, CALIF. – A 2.15-acre hotel site at Campus El Segundo has sold to OTO Development, LLC for $4.4 million. OTO plans to use the site for a 143-room Hyatt Place hotel, which will begin construction immediately. There are still 24 acres that remain at Cam pus El Segundo. Jim Thomas, chairman and CEO of the seller, Thomas Property Group, noted his company still has flexible entitlements for about 1.7 million square feet of future development space.
SAN DIEGO – Independence Square Shopping Center in the Kearny Mesa submarket of San Diego has received $12 million for a refinance. The permanent financing was arranged by Newmark Realty Capital. The fixed-rate, non-recourse loan includes a 10-year term. The borrower was a private client and the lender was a national bank. Financing was arranged by James Dick, a vice president in Newmark’s San Diego office.
HAYWARD, CALIF. — The 214,172-square-foot Whipple Industrial Center in Hayward has sold to LBA Realty, LLC from WP Investments for an undisclosed sum. The institutional-quality manufacturing/warehouse facility is fully occupied by Morgan Technical Ceramics, which holds a long-term lease at the center. Whipple was built in 1972 and renovated in 2002. The sale was executed by Greig Lagomarsino and Mark Maguire of Colliers International’s Oakland office, along with Greg Cioth and Edmund Najera of Eastdil Secured.
EL SEGUNDO, CALIF. — Net2EZ has signed a long-term lease expansion for more than 24,000 square feet of space at Digital Realty's El Segundo data center facility. This brings the data center service provider’s total space at the facility to more than 40,000 square feet.
ATLANTA — The 375,085-square-foot One Georgia Center, located at 600 W. Peachtree St. in Atlanta, has been sold for $48.6 million. Stewart Calhoun, David Meline, Samir Idris and Casey Masters of Cushman & Wakefield's Atlanta office represented Cousins Properties, the seller, in the transaction. Newton, Mass.-based Government Properties Income Trust was the buyer.