REBusinessOnline

Hines Opens 250,000 SF Offices at Chandler Viridian in Chandler, Arizona

CHANDLER, ARIZ. — Hines has officially opened the Offices at Chandler Viridian, a six-story, Class A office property located in at the intersection of Loop 101 and Loop 202 in Chandler. The 250,000-square-foot building features a large, open floorplan with 10-foot tall ceilings, a lounge and a large courtyard. In addition to the grand opening, Hines announced two tenants: Stantec will occupy approximately 51,000 square feet on the second and third floors, while Workuity will occupy 19,787 …

CBRE Negotiates $29M Sale of 97,191 SF Flex Property in Issaquah, Washington

ISSAQUAH, WASH. — CBRE has arranged the sale of Sammamish Park Place, an office and flex property located at 22011 SE 51st in Issaquah. Eden Prairie, Minn.-based Onward Investors sold the asset to Costa Mesa, Calif.-based Rich Uncles NNN REIT for $29 million. Costco occupies the 97,191-square-foot property, which is situated on 4.6 acres adjacent to Costco’s International Headquarters and several other Costco-leased buildings. The two-story building recently underwent significant capital …

TCM Acquires 258,441 SF Office Building in Suburban St. Louis

TOWN AND COUNTRY, MO. — Ten Capital Management (TCM) has acquired 575 Maryville, a Class A office building in Town and Country, a suburb of St. Louis. The 258,441-square-foot building includes a fitness center, two conference rooms, on-site dining and parking. The property is currently 97 percent leased to four tenants, including anchor Cushman & Wakefield. Neither the seller nor the sales price was

Insurance Companies Partner to Acquire Buckhead Office Building in Atlanta for $166M

ATLANTA — A joint venture between New York Life Insurance Co. and Ilmarinen Mutual Pension Insurance Co. has purchased Prominence in Buckhead, a 433,000-square-foot, Class A office building in Atlanta’s Buckhead district. The seller and sales price were undisclosed, but multiple media outlets report that Crocker Partners LLC sold the asset for $166 million. The 19-story building was delivered in 1999 at the intersection of Piedmont and Lenox roads. New York Life Real Estate Investors …

Square Mile Capital Provides $36M Acquisition Loan to Meridian Group for Office Building in Arlington

ARLINGTON, VA. — Square Mile Capital Management LLC has provided a $36 million loan to The Meridian Group for the acquisition of a five-story office building situated in Arlington’s Courthouse District. The office building is located at 2500 Wilson Blvd., about five miles north of Ronald Reagan Washington National Airport and about four miles west of downtown Washington, D.C. The loan also includes funds for capital improvement and leasing plans. Joe Donato and Kassi Sardidakis of Newmark …

CIM Group Buys Historic Office Building in Downtown Seattle for $151M

SEATTLE — CIM Group, a real estate owner and operator based in Los Angeles, has purchased the historic Dexter Horton Building in downtown Seattle. The seller and sales price were not disclosed, but the Puget Sound Business Journal is reporting that Great Eagle Holdings Ltd. sold the 15-story office building for $151 million. The 335,000-square-foot Art Deco structure occupies a full city block at 710 2nd Ave. near the historic Pioneer Square area and Elliott Bay. The office building’s …

New York Life Provides $44.5M Bridge Loan for Houston Office Property

HOUSTON — New York Life Real Estate Investors has provided a $44.5 million bridge loan for 515 Post Oak, a 274,848-square-foot, 12-story office property located in the Galleria area of Houston. The Class A property, which offers access to Interstates 610 and 69, was renovated in 2012 and includes a four-story parking garage, fitness center and a full-service deli. Proceeds will be used to meet the lease-up objectives of the owner and borrower, Spear Street Capital. Other loan terms were not …

Weingarten Sells 129,250 SF Office Building in Northwest Houston

HOUSTON — Weingarten Realty Investors has sold 1919 North Loop West, a 129,250-square-foot office building in northwest Houston. The six-story building is located near The Galleria neighborhood and Memorial Hermann Greater Heights Hospital. Rudy Hubbard, Kevin McConn and Rick Goings of JLL handled the sale on behalf of Weingarten. Paul House and John Ream of JLL arranged an undisclosed amount of acquisition financing for the deal on behalf of the buyer, an affiliate of Houston-based Simpkins …

Pacific Industrial Buys 151,000 SF Multi-Tenant Business Park in Orange County for $22.6M

ANAHEIM, CALIF. — Pacific Industrial, a privately held industrial development and investment firm, has acquired North Stadium Business Center, a multi-tenant business park located at 2020-2120 E. Howell Ave. in Anaheim’s Platinum Triangle. 2020 Howell Avenue Enterprises and Howell Avenue Enterprises sold the asset for $22.6 million. Situated on 9 acres, the property features 151,000 square feet of office space and is within walking distance of Angel Stadium and The Honda Center. At the …

CBRE Negotiates $10M Sale of Former YWCA Building in Portland

PORTLAND, ORE. — CBRE has brokered the sale of a residential and office building located in Portland’s Cultural District. W.H.J. Holdings LLC sold the property to Harsch Investment Properties for $10 million. Located at 1111 SW 10th Ave., the five-story, 66,074-square-foot building is currently occupied by Morrison Child and Family Services, a nonprofit that provides specialized services to children who have experienced trauma or adversity. Built in 1958 and renovated in 2002, the former …

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