AUBURN HILLS, MICH. — Bernard Financial Group has arranged an $11.2 million loan for the refinancing of a 137,994-square-foot office building in Auburn Hills. Multiple tenants occupy the building, located at 691 N. Squirrel Road. Dennis Bernard and Kevin Kovachevich of Bernard Financial arranged the CMBS loan on behalf of Auburn Newco LLC.
SANTA MONICA, CALIF. — Cypress Equity Investments has purchased a commercial property located at 3223 Wilshire Blvd. in Santa Monica. Satnam Investments sold the property for an undisclosed price. The property is comprised of two parcels, including a two-story, 11,730-square-foot building. The parcels are zoned mixed-use, allowing for a range of redevelopment opportunities. Mitchell Stokes of Madison Partners represented the seller and buyer in the deal.
ST. LOUIS — SVN/Infinity Commercial Group has negotiated the sale of a 105,800-square-foot office and warehouse property in St. Louis for $5.3 million. The building sits on 5.4 acres and is located at 1325 N. Warson Road. Mark Zvibleman of SVN/Infinity Commercial Group represented the seller, North Warson Associates. Tom Schenk represented the buyers, White Warson 1 LLC and WFLP LLC.
RIDGEFIELD PARK, N.J. — NAI James E. Hanson has arranged the sale of an office building located at 158 Bergen Turnpike in Ridgefield Park. Wooti Realty LLC sold the 4,500-square-foot building to 158 Bergen Owners LLC for an undisclosed price. The buyer plans to relocate its fire and security systems sales business from Brooklyn to the new site. Anthony Cassano of NAI Hanson represented the seller, while Marcus & Millichap represented the buyer in the transaction.
TYSONS, VA. — Hogan Lovells, an international law firm, will relocate its Northern Virginia office to Boro Tower, a new 20-story office tower under construction at The Boro, a planned 15-acre mixed-use development in Tysons. The first phase of The Boro will deliver 700 residential units, 260,000 square feet of retail space and Boro Tower. The Meridian Group, developer of the project, estimates the first phase to be completed in 2019. Rob Faktorow and Terry Reiley of CBRE represented The..
ROUND ROCK, TEXAS — California-based investment and development firm Mark IV Capital has broken ground on Summit II at La Frontera, a 95,000-square-foot, Class A office building in the greater Austin area. The two-story building located near the intersection of Interstate 35 and SH 45 is the largest office property under construction in the Round Rock submarket. Amenities will include a 10,000-square-foot courtyard with Wi-Fi and food truck services, as well as a fitness center. ..
There’s never been a better time to live and work in downtown Milwaukee. With the recession in the rearview mirror, a massive resurgence in the multifamily and office sectors has originated in Wisconsin’s largest city. Since 2011, 2,500 multifamily units have been completed, with an additional 1,500 units under construction and 2,000 proposed. [caption id="attachment_181651" align="alignright" width="100"] Ben Anderson, Colliers International[/caption] The office market has seen a..
HACKENSACK, N.J. — Simone Development Cos. has entered the Northern New Jersey market with the acquisition of Prospect Plaza, a medical office building located at 385 Prospect Ave. in Hackensack. The company purchased the property in a bank auction for an undisclosed price. Simone plans to renovate the three-story, 62,000-square-foot property, which was built in 1983, to upgrade the lobbies and common areas, as well as complete façade work and energy management systems updates. The property..
CAMBRIDGE, MASS. — CBRE/New England has brokered the sale of two office buildings located at 125 and 150 Cambridgepark Drive in Cambridge. CBRE Global Investors sold the asset to a joint venture between Longfellow Real Estate Partners and an undisclosed investor for an undisclosed price. The institutional-quality buildings total 470,258 square feet of multi-tenant office space and include a recently constructed 456-space parking garage. Dave Pergola, Brian Doherty, Chuck Kavoogian and Adam..
IRVINE, CALIF. — Equity Office has broken ground on Von Karman Creative Campus (VKCC), a nine-building creative office campus in Irvine. The campus will be situated at the corner of Von Karman Avenue and Alton Parkway, on the site of the former Von Karman Corporate Center. VKCC will feature amenities like complimentary on-site concierge to assist with personal tasks, an indoor/outdoor fitness center, free group fitness classes, onsite cafe, dedicated dog parks, regular food trucks and..