HOUSTON — Transwestern’s Houston office has arranged the sale of a two-property multifamily portfolio totaling 117 units in Houston’s Spring Branch District. Ed Cummins and Ryan Mendez of Transwestern represented the seller, OSD Ltd., in the transaction. The off-market deal involved the sale of Spring Gardens, a 79-unit apartment complex located at 1714 Wirt Road, and Johanna Square, a 38-unit complex located at 1715 Johanna Drive. An unnamed buyer purchased both properties.
HOUSTON — NAI Partners represented Rockwell Management in the lease of 8,200 square feet at the 1900 St. James Building in Houston’s Galleria submarket. Sam Hansen of NAI Partners represented the landlord, Rockwell Management, in the transaction. Connor Tamlyn of CBRE represented the tenant, ioMosaic.
CAMBRIDGE, SOMERVILLE AND BOSTON, MASS. — DivcoWest has acquired a 42-acre master-planned development site known as NorthPoint from Canyon Partners Real Estate for an undisclosed price. The site is located across the Charles River from downtown Boston and spans the cities of Boston, Cambridge and Somerville. Located adjacent to two MBTA lines, the transit-oriented site is fully entitled for the development of approximately 4.5 million gross square feet, including 2.4 million gross square feet of residential space and 2.1 million square feet of commercial product. When complete, the project will feature a mix of residential, commercial office, retail, hospitality and life sciences uses surrounding a central park. JLL and DLA Piper represented the seller, while Goulston & Storrs represented the buyer in the transaction. Canyon originally purchased the property in 2010 through its Canyon-Johnson Urban Funds with its development partner, The HYM Investment Group.
HOUSTON — Rent Recover has leased 4,840 square feet at the Park Plaza Business Park building located at 11104 W. Airport Blvd. in Houston. Spencer Starkey, Kurt Kistler and Griffin Jaggard of Moody Rambin represented the building owner, Stafford Office Park II LP, in the transaction. Brian Strait with Lincoln Property Co. represented the tenant in negotiations.
NEW YORK CITY — GFI Realty Services Inc. has arranged the sale of a development site located at 695-705 6th Ave. in Brooklyn’s South Slope section. The corner lot, which has a maximum buildable area of 34,800 square feet, sold for $9.9 million. The buyer plans to demolish the existing commercial building and develop a multi-story residential condo building on the site. Erik Yankelovich of GFI Realty represented the seller and buyer in the transaction. The names of both parties were not released.
NEW YORK CITY — Cushman & Wakefield has brokered the sale of a residential building located at 441 W. 22nd St. in Manhattan’s Chelsea district. The 5,520-square-foot property sold for $8.7 million, or $1,585 per square foot, in an all-cash transaction. The five-story building is divided into a garden-level two-bedroom apartment, seven one-bedroom units and one studio unit. All apartment units are fair market and feature working fireplaces. Brock Emmetsberger of Cushman & Wakefield represented the undisclosed seller, while Matthew Lesser of Leslie J. Garfield represented the undisclosed buyer in the transaction.
CHICAGO — DePaul University has selected J.C. Anderson Inc. to complete a 14,000-square-foot build-out to DePaul’s Richard M. and Maggie C. Daley College of Communication and School for New Learning on the Loop Campus. The property is located at 247 S. State St. in Chicago. DePaul acquired the property in 2008. Renovations will include the addition of a theater, editing rooms, classrooms and office space to accommodate the College of Computing and Digital Media. Construction is scheduled for completion in September. Steve Boulukos and Joe Maguire will lead the construction team for J.C. Anderson Inc. Vasilko & Architects Associates will provide architectural services.
LINDEN, MICH. — Associated Bank has provided a $3.8 million construction loan to Chicago-based Zeman Homes for the construction of Pine Ridge Manufactured Housing Community in Linden. The 195-site manufactured housing community, located at 9348 Silver Lake Road, about 17 miles south of Flint, Mich., features a clubhouse and children’s playground. Jerry Rotunnno of Associated Bank originated the loan.
NORTH FORT MYERS, FLA. — Venture Commercial Real Estate has brokered the $4.5 million sale of a 23,104-square-foot retail building in North Fort Myers fully leased to Northern Tool + Equipment. The building is located at 14571 N. Cleveland Ave. Clay Mote of Venture Commercial represented the seller, DRW Partnership LLLP, in the transaction. The buyer, Realty Income Properties 6, was self-represented.
ATLANTA — Three new restaurants have signed on at Peachtree Center, a mixed-use campus comprising six high-rise buildings in downtown Atlanta. Tin Lizzy’s Cantina and Gus’s World Famous Fried Chicken recently opened locations at Peachtree Center, and Panbury’s Double Crust Pies will open a new eatery there this fall. JLL brokered the lease transactions on behalf of Peachtree Center’s owner, Banyan Street Capital.
