MORRISVILLE, N.C. — Foundry Commercial, along with capital partner Hart Realty Advisers LLC, has purchased Concourse Lakeside I and II, a two-building office campus in the Raleigh-Durham community of Morrisville, for $24.2 million. Ryan Clutter, Scott Humphrey and Chris Lingerfelt of HFF represented the seller, a partnership between an affiliate of Banyan Street Capital and funds managed by Oaktree Capital Management. The HFF team also procured the buyer. Foundry and Hart plan on updating the..
LOS ANGELES — The Luzzatto Company has broken ground on Expo Station, an 80,000-square-foot creative office development in West Los Angeles. The transit-oriented development is located at 12414 Exposition Blvd. near the Metro Expo line’s Expo/Bundy station in Silicon Beach. Expo Station will have three levels of creative office space above a two-level parking structure. The building’s contemporary design will feature a concrete, wood and glass façade, angled roof line and more than..
DALLAS — Stream Realty Partners has negotiated two office leases totaling 15,198 square feet at 5050 Quorum Drive in Dallas. Ryan Evanich, Chase Lopez and Jackie Smith of Stream represented the landlord, New York-based DRA Advisors, in its lease negotiations with the new tenants, Josh DeShong Real Estate and law firm Pratt, Aycock & Associates PLLC. The two firms will occupy the sixth floor of the building, which DRA Advisors recently renovated to feature an on-site fitness center,..
NEW BRITAIN, CONN. — Inland Real Estate Acquisitions has arranged the sale of two medical office buildings located in New Britain for an undisclosed price. Mark Cosenza and David Neboyskey of Inland Real Estate represented the buyer, an Inland affiliate, in the deal. The properties are a two-story building located at 300 Kensington Ave. and a 62,000-square-foot building at 1 Lake St. Starling Physicians P.C. occupies both properties.
RALEIGH AND DURHAM, N.C. — A joint venture between Starwood Capital Group, Trinity Capital Advisors and Vanderbilt Partners has sold a seven-property office portfolio in Raleigh-Durham to an institutional investor for $105.5 million. The portfolio contains a total of 581,619 square feet within the Perimeter Park business park. The properties are located at 1500, 1600, 1700, 1800, 2000 and 2250 Perimeter Park and 3800 Paramount Parkway within the Research Triangle Park submarket of..
PITTSBURGH — Faros Properties has received $127.5 million in financing for Nova Place and 106 Isabella in Pittsburgh. Gerard Sansosti and Nick Matt of HFF secured the five-year, floating-rate loan through Wells Fargo for the borrower. Nova Place is a former urban mall that was converted into office use in the early 1990s. The complex now offers 1.3 million square feet of office space and is 86 percent occupied by a variety of tenants, including PNC Bank, Microbac, Continental Broadband,..
WARREN, N.J. — Cushman & Wakefield has arranged $80.7 million in financing for Normandy Real Estate Partners and Greenfield Partners. The financing is secured by Center 78, an office building located at 184 Liberty Corner Road in Warren. The 10-year, fixed-rate financing was provided by Natixis Real Estate Capital. Center 78 is a 369,797-square-foot institutional quality office building situated on a 47-acre site in Somerset County. John Alascio and Sridhar Vankayala of Cushman & Wakefield..
HOUSTON — HFF has arranged an undisclosed amount of refinancing for 700 Louisiana, a 56-story, a 1.2 million-square-foot office tower in Houston’s CBD. Cameron Cureton and John Brownlee of HFF arranged the funds on behalf of the borrower, a joint venture between Houston-based investment firm M-M Properties and an institutional capital partner. The property was 90 percent leased at the time of the loan closing. The borrower will use the funds to reconfigure the lobby and incorporate an..
NEW YORK CITY — Stellar Management has refinanced a 13-property portfolio with a $105 million loan package from Capital One. The deal, brokered by GCP Capital Group, includes a five-year term. The portfolio includes properties at 11-15 W. 123rd St., 1061-1071 St. Nicholas Ave., 604 W. 162nd St., 601-609 W. 175th St., 3480-3496 Broadway and 12 E. 32nd St. The refinancing includes more than 600 residential units and as well as commercial and retail space in New York City. Stellar has owned the..
BOSTON — CIM Group and Nordblom Co. have purchased an office building located at 1000 Washington St. and an adjacent parking garage at 321 Harrison Ave. in Boston’s South End. The 11-story building features 242,000 square feet of office space, while the four-level parking garage features 309 stalls. Nordblom has been an owner and operator of 1000 Washington Street and will continue to manage the property. The name of the seller and acquisition price were not released.