Office

Arcadia Sky Acquires Corporate Center @ Kierland in Scottsdale

by Nellie Day June 22, 2016

SCOTTSDALE, ARIZ. — Arcadia Sky LLC has purchased Corporate Center @ Kierland, a 107,846-square-foot office development in the Scottsdale Airpark submarket, for an undisclosed sum. The Class A asset was 88 percent leased at the time of sale. Notable tenants include American Express Global Business Travel and Berkshire Hathaway Home Services. Trent Rustan and Josh Gosnell of Commercial Properties represented the buyer. CBRE’s Barry Gabel, Chris Marchildon, Kevin Shannon, Glenn Smigiel and Bob Young represented the institutional seller.

June 22, 2016

Illinois Industrial Midwest Office

Darwin Realty Arranges 58,627 SF Industrial, Office Lease in Metro Chicago

by Christina Cannon June 22, 2016

ELK GROVE VILLAGE, ILL. — Darwin Realty has arranged a 58,627-square-foot office and industrial lease for Porreca Freight, a local pick-up and delivery service provider. The building is located at 1850 Greenleaf Ave. in Elk Grove Village, approximately 25 miles northwest of Chicago. The facility features 11 exterior docks, two drive-in doors, 16-foot clear heights and parking. Richard Daly of Darwin Realty represented the tenant in the transaction. Jonathan Kohn and Tom Rodeno of Colliers International represented the landlord.

June 22, 2016

Midwest Minnesota Office

Marcus & Millichap Brokers $1.8M Sale of Office Property in St. Michael, Minnesota

by Christina Cannon June 22, 2016

ST. MICHAEL, MINN. — Marcus & Millichap has brokered the sale of a 13,765-square-foot office property for $1.8 million. The Cornerstone is located at 1 Central Ave. W. in St. Michael, approximately 30 miles northwest of Minneapolis. A developer sold the asset to a private investor. Cory Villaume, Sean Doyle, Matthew Hazelton and Adam Prins of Marcus & Millichap listed the property on behalf of the seller and represented the buyer.

June 22, 2016

Illinois Midwest Office

CBRE Arranges 11,195 SF Office Lease in Oak Brook, Illinois

by Christina Cannon June 22, 2016

OAK BROOK, ILL. — CBRE has arranged an 11,195-square-foot office lease in Oak Brook, approximately 20 miles west of Chicago. Command Alkon Inc. will occupy the space at Oak Brook 22. The property, purchased by Golub Co. in 2014, has recently undergone renovations such as a redesigned lobby and lounge area, a new fitness center and a new conference center. The Class A building, located at 1211-1315 W. 22nd St., is 95 percent leased. Pete Adamo, Bill Elwood and Tara Torbik of CBRE represented Golub in the transaction. Jon Azulay of Savills Studley represented Command Alkon.

June 22, 2016

Office Oklahoma Texas

CBRE Negotiates Lease Renewal, Expansion for BOK Financial in Tulsa

by Haisten Willis June 22, 2016

TULSA, OKLA. — CBRE has negotiated a five-year lease renewal and expansion for the BOK Financial at Bank of Oklahoma Place at Southern Hills. BOK Financial will occupy 27,091 square feet following a 3,758-square-foot expansion at 5727 S. Lewis Ave. in Tulsa. BOK Financial has been a tenant of the property since 2005. BOK Financial is a regional financial services company based in Tulsa with more than 80 banking centers statewide. Mary Martin with CBRE’s Tulsa office represented the landlord, Allegiancy Houston LLC, in the lease transaction.

June 22, 2016

Office Texas

CIM Group Acquires Eastside Village Office Building in East Austin

by Haisten Willis June 22, 2016

AUSTIN, TEXAS — CIM Group has acquired a 95,000-square-foot, four-story office building located at 1645 E. 6th St. in east Austin. The building is part of the three-building Eastside Village mixed-used development that includes an eight-story, 700-stall parking garage, of which 368 stalls are allocated to the office building. The development also includes a four-story, 346-unit apartment building atop ground-floor retail space. Eastside Village is transit-oriented complex located near the Plaza Saltillo MetroRail station.

June 22, 2016

New York Northeast Office

Second City Real Estate Sells Four-Building Office Asset in Syracuse for $15.8M

by Amy Works June 22, 2016

SYRACUSE, N.Y. — Second City Real Estate has completed the sale of Salina Meadows, a four-building office property located at 200, 220 and 231 Salina Meadows Parkway and 301 Plainfield Road in Syracuse. A local investor acquired the 239,320-square-foot Class A office park for $15.8 million. At the time of sale, the office park was 85.2 percent leased to a variety of tenants, including Traveler’s Indemnity Co., Mutual of Omaha Insurance Co., Walgreen Co. and Acadia Insurance Co. Rob Rizzi, Jose Cruz, Kevin O’Hearn, David Fowler and Michael Oliver of HFF represented the seller in the transaction.

June 22, 2016

Connecticut Northeast Office

Angel Commercial Brokers $2.9M Sale of Office Building in Connecticut

by Amy Works June 22, 2016

FAIRFIELD, CONN. — Angel Commercial has arranged the sale of a commercial office building located at 418 Meadow St. in Fairfield. Milford, Conn.-based Julian Enterprises acquired the 24,866-square-foot building from BAO Partners for $2.9 million. Situated on 1.05 acres, the building features 24,866 square feet of office space. Brett Sherman of Angel Commercial represented the seller, while Lester Fradkoff of Angel Commercial represented the buyer.

June 22, 2016

District of Columbia Loans Mixed-Use Office Retail Southeast Top Stories

KeyBank, Walton Street Originate $196M Refinancing for The Atlantic Building in D.C.

by Haisten Willis June 22, 2016

WASHINGTON, D.C. — A partnership between KeyBank Real Estate Capital and an affiliate of Walton Street Capital LLC have originated a $196 million first mortgage loan for Douglas Development Corp. The loan is secured by The Atlantic Building, a 280,000-square-foot trophy office building with ground-floor retail located in the east end of Washington D.C. The 10-year, fixed-rate loan includes a 65 percent loan-to-value ratio and refinances the existing debt on the property. KeyBank and Walton Street will provide servicing and advisory services for the life of the loan. The Atlantic Building is located at 950 F St. N.W. The property integrates seven historic buildings and facades with a 10-story office building next to Ford’s Theatre, the site where President Abraham Lincoln was assassinated in 1865. Built in 1887, the building was the city’s first privately constructed high-rise with elevator service. The historic exteriors have since been preserved and incorporated into the modern version of the property, which was redeveloped between 2004 and 2006. The Atlantic Building includes 283,512 rentable square feet, of which 29,172 square feet is retail and 35,340 square feet is office. In addition, there are 322 below-grade parking spaces and Metro access from the red, blue and …

June 22, 2016

California Office Western

Align Real Estate Buys Comcast Office Center in Livermore for $59M

by Nellie Day June 21, 2016

LIVERMORE, CALIF. — Align Real Estate has acquired Comcast Office Center, 219,631-square-foot office campus in Livermore, for $59 million. The three-building campus serves as the regional headquarters for Comcast. The space is located at 3011, 3055 and 3077 Comcast Place in the Tri-Valley region of the greater San Francisco Bay Area. Comcast Office Center features outdoor seating, and volleyball and basketball courts. HFF’s Michael Leggett, Scott Pertel and Gerry Rohm represented the buyer and seller, Gramercy Property Trust, in this transaction.

June 21, 2016

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