REBusinessOnline

Coretrust Capital Acquires 640,000 SF Office Campus in Pasadena, California

PASADENA, CALIF. — Coretrust Capital Partners, through its investment fund Coretrust Value Fund I, has purchased Corporate Center Pasadena, a four-building office campus located at 201, 225, 251 and 283 S. Lake Ave. in Pasadena. The acquisition price was not disclosed. The 640,000-square-foot property features 40,000 square feet of retail space, a 60,000-square-foot plaza and more than 2,000 parking stalls. Coretrust acquired the campus from an ownership group that controlled the property …

Lincoln Property Co., Harvard Investments Selected to Build 1.35 MSF Office Project in Mesa, Arizona

MESA, ARIZ. — The Mesa City Council has selected Lincoln Property Cos. and Harvard Investments to develop 28.2 acres of city-owned land in the Riverview mixed-use district of Mesa. Upon completion, the "Union" project will bring 1.35 million square feet of Class A office space to the district. Union will include four buildings ranging from four to eight stories and fro 225,000 square feet to 450,000 square feet. Each building will feature large and open floorplates and high ceilings. …

Zeller Realty Group Unveils Renovation Plans for 620,000 SF Office Tower in Downtown Atlanta

ATLANTA — Zeller Realty Group (ZRG) has unveiled its renovation plans for 100 Peachtree, a 620,000-square-foot, Class A office tower in downtown Atlanta. ZRG — which is a tenant at the building — has partnered with architecture firm Gensler to redesign the property’s amenity spaces. Renovations call for a modernized lobby, new outdoor gathering spaces, soft seating, an interactive screen, public art installations, interactive conference center, tenant lounge and an upgraded fitness …

Spaces to Open Third New York City Co-Working Location at 230 Park Avenue

NEW YORK CITY — Creative working environment Spaces will open its third location in New York City on May 29 at 230 Park Ave. Spaces 230 Park Avenue will provide a 54,000 square-foot creative co-working environment for businesses and will feature a 4,000-square-foot business club as well as private rooms and dedicated desk space. The location joins Spaces 1740 Broadway and Spaces Long Island City as the third Spaces location in New York City. Additional Spaces locations are planned for Hudson …

HFF Arranges $109.8M Sale of, $103.6M Financing for Office Building in San Francisco

SAN FRANCISCO — HFF has arranged the sale of a subdivided office condominium interest in 1390 Market St., a transit-oriented office building in San Francisco. Broadreach Capital Partners sold the property to Swift Real Estate Partners for $109.8 million. Michael Leggett, Gerry Rohm, David Dokko, Ben Bullock, Thomas Foley and Austin White of HFF represented the seller and procured the buyer in the deal. Additionally, Jordan Angel and Bercut Smith, also of HFF, arranged a $103.6 million …

Voit Real Estate Negotiates $1.5M Sale of Office Building in Chula Vista, California

CHULA VISTA, CALIF. — Voit Real Estate Services has arranged the sale of an office building located at 2090 Otay Lakes Road in Chula Vista. Stars Intervention Inc. purchased the building from Pathfinder Otay Holdings, an affiliate of Pathfinder Partners, for $1.5 million. Located within Eastlake Medical and Professional Center, the property features 6,638 square feet of office space. Tracy Clark and Kimberly Clark of Voit Real Estate Services' San Diego office represented the seller, …

Facebook Signs Full-Building Lease for 43-Story Office Tower in San Francisco

SAN FRANCISCO — Social media giant Facebook Inc. (NASDAQ: FB) has signed a long-term lease to fully occupy Park Tower at Transbay, a 43-story office tower under construction in San Francisco’s Financial District. According to the San Francisco Business Times, the transaction is the largest office lease in the history of the city and will make Facebook the market’s third-largest tech tenant by square footage. Park Tower is co-owned by MetLife Investment Management, the asset …

CBRE Brokers $133.5M Sale of Office Tower in Charlotte’s CBD

CHARLOTTE, N.C. — CBRE has arranged the sale of 400 South Tryon, a 33-story office tower in Charlotte’s central business district. Funds managed by Oaktree Capital Management LP acquired the property from DRA Advisors and Trinity Capital Advisors. The sales price was not disclosed, but the Charlotte Business Journal reports the building sold for $133.5 million — more than double the price the joint venture paid in 2014. Patrick Gildea, Matt Smith, Will Yowell, Justin Parsonnet and Jay …

TerraCap Sells Office Building in Tampa for $21.8M

TAMPA, FLA. — TerraCap Management LLC has sold Lakeview Center, a 186,300-square-foot office property located at 6700 Lakeview Center Drive in Tampa, for $21.8 million. Joe Rossi, Thevenin Campton and Claire Calzon of Colliers International arranged the transaction on behalf of TerraCap. Miami-based TriOut Advisory Group LLC acquired the asset. Lakeview Center serves as the headquarters for HealthPlan Services Inc., a medical insurance provider. Existing entitlements give TriOut the ability …

NAI Horizon Brokers $3.2M Sale of Office Building in Surprise, Arizona

SURPRISE, ARIZ. — NAI Horizon has arranged the sale of an office building located at 14780 W. Mountain View Blvd. in Surprise. Bellevue, Wash.-based Surprise Mountain LLC sold the property to Scottsdale, Ariz.-based Development Services of America for $3.2 million. Constructed in 1998, the 32,505-square-foot property features 212 parking spaces. At the time of acquisition, the property was 82 percent occupied. Tyler Smith of NAI Horizon, along with Marcus Muirhead of Lee & …

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