Office

Colliers Arranges $87M Refinancing for 542,000 SF R&D Facility in Massachusetts

by Amy Works March 25, 2016

MARLBOROUGH, MASS. — Colliers International has arranged $87 million in refinancing for the research and development facility located at 200 Forest St. in Marlborough. The borrower was Atlantic Management Corp. The recently rehabbed 542,000-square-foot facility is occupied by Quest Diagnostics and GE Healthcare. Atlantic Management redeveloped the facility, which was formerly part of the Hewlett Packard campus. Thomas Welch and John Poole of Colliers arranged the financing with Benefit Street Partners.

March 25, 2016

Massachusetts Northeast Office

The Community Builders Sells Office Building in Boston’s South End

by Amy Works March 25, 2016

BOSTON — Colliers International has arranged the sale of an office building located at 95 Berkeley St. in Boston’s South End. CIM Group and Center Court Mass have acquired the 114,000-square-foot property from The Community Builders. The asset sold for an undisclosed sum. Doug Jacoby, Scott Dragos, Tony Hayes, Tim Muhall and Lyndsey Hmura of Colliers represented the sellers in the transactions.

March 25, 2016

Loans New York Northeast Office Retail

SKW Funding Closing $12M Loan for Two Manhattan Properties

by Amy Works March 25, 2016

NEW YORK CITY — SKW Funding has closed a $12 million first lien mortgage loan for the refinance and cross-collateralization of two Manhattan properties. Located between Houston and East First streets in East Village, the first site is a predominantly vacant land site that contains the foundation from a prior structure that was demolished in 2000. The second asset is located between Third and Second avenues in East Harlem. Daniel Wrublin and Menelik Tefera of SKW Funding arranged the financing for the undisclosed borrower.

March 25, 2016

Office Texas

Cushman & Wakefield Arranges Pair of Office Leases in Dallas

by Haisten Willis March 25, 2016

DALLAS — Cushman & Wakefield has arranged two office leased in Dallas. In the first transaction, Condon Thornton Sladek has leased 10,502 square feet of office space at 8080 Park Lane. Mike Wyatt and Billy Gannon of Cushman & Wakefield represented Condon Thornton Sladek in the transaction. Trey Smith and Ward Eastman of Cushman &Wakefield represented the landlord, Northwood Investors. In the second transaction, Freese & Goss has leased 9,465 square feet of office space in Parkside Tower at 3500 Maple Ave. David Glasscock of CBRE represented Freese & Goss in the transaction. Johnny Johnson, Trey Smith and Layne Mayfield of Cushman & Wakefield represented the landlord, Champion Partners.

March 25, 2016

Michigan Midwest Office

Schostak Brothers, Schoolcraft College to Develop 91,220 SF Corporate Headquarters for Masco Corp. in Michigan

by Christina Cannon March 25, 2016

LIVONIA, MICH. — Schostak Brothers & Co. has formed a joint venture with Schoolcraft College to develop a 91,220-square-foot corporate headquarters for Masco Corp., which is relocating its operations to Livonia from Taylor, Mich. The building is slated for completion in the spring of 2017. The facility will be located between Six Mile Road and Seven Mile Road on the Schoolcraft College campus. Masco is a designer, manufacturer and distributer of branded home improvement and building products.

March 25, 2016

Illinois Industrial Midwest Office

Opus to Build 23,400 SF Industrial Facility in West Dundee, Illinois

by Christina Cannon March 25, 2016

WEST DUNDEE, ILL. — The Opus Group will develop a 23,400-square-foot warehouse and office facility in West Dundee, approximately 45 miles northwest of Chicago, for oelheld U.S. Inc., a German manufacturer of cooling and lubricating fluids for the tool-making industry. The space, which will be located inside the Oakview Corporate Park, will serve as the company’s U.S. headquarters and manufacturing site. The building will include 7,600 square feet of office space and 15,800 square feet of warehouse space with the ability to accommodate future expansion up to 16,000 square feet. The new facility will include both an interior and exterior spill containment system to ensure that any spilled fluids can be controlled for cleanup, and a new laboratory will allow oelheld to conduct the needed research to meet the demands of their clients. The project is slated for completion this December. Opus Design Build will be the design-builder, and Opus AE Group will be the architect and structural engineer of record. Noel Liston of Darwin Realty represented Opus Development Company, and Ed Lowenbaum and Jason Talanian of Lowenbaum Real Estate Partners represented oelheld in the transaction.

March 25, 2016

4726 Eisenhower Blvd TampaTRAK Microwave Corp.

Florida Industrial Office Southeast

NGKF Negotiates 117,018 SF Corporate Headquarters Lease in Tampa

by John Nelson March 25, 2016

TAMPA, FLA. — NGKF has arranged a 117,018-square-foot lease extension for TRAK Microwave Corp.’s corporate headquarters and manufacturing facility. The manufacturer has restructured its lease for flex space at 4726 Eisenhower Blvd. in Tampa. Clay Wommack of Franklin Street represented the landlord, Chew Family Tampa LLC, in the transaction. John Esposito of NGKF represented TRAK Microwave Corp., which is owned by Smiths Group.

March 25, 2016

Florida Office Southeast

Cushman & Wakefield Arranges $30.1M Sale of Office Campus in Palm Beach Gardens

by John Nelson March 24, 2016

PALM BEACH GARDENS, FLA. — Cushman & Wakefield has arranged the $30.1 million sale of Corporate Center at the Gardens, a two-building, 113,565-square-foot office campus located at 4200-4400 Northcorp Parkway in Palm Beach Gardens. The property is situated on a 6.2-acre parcel within PGA Professional Center along I-95. The Class A campus was fully leased at the time of sale to tenants such as Garden of Life, Oxford Global Resources, Olympus Insurance Co. and Weiss Research Inc. Scott O’Donnell, Dominic Montazemi, Miguel Alcivar, Greg Miller and Jason Hochman of Cushman & Wakefield, along with Anthony Librizzi of CBRE, represented the seller, Lexington Palm Beach LLC, in the transaction. The buyer was a joint venture between Breakers Capital and Alchemy-ABR-BCP Gardens LLC.

March 24, 2016

Office Texas

TPMC to Renovate Park Towers Office Complex in Houston

by Haisten Willis March 24, 2016

HOUSTON — TPMC Realty Corp. (TPMC) will lead a $16-plus million redevelopment of Park Towers, a set of two towers in uptown Houston located at 1233 W. Loop S. The renovation will include elevator bank corridors, restrooms, the lobby, fitness facilities and a conference center. Highlights include: Restrooms equipped with luxury hospitality-like finishes and automatic flushing, soap, water and hand towel dispensers; lobbies with welcoming concierge layout and four televisions, with updated security badge technology and Wi-Fi; conference center made of two interconnected rooms with Wi-Fi presentation technology connected to TVs in each room; New elevator cabs with Thyssen Krupp destination-based dispatch technology, touch screen kiosks and streaming TV monitors, and; lighting upgrades throughout tenant and common areas to incorporate LED bulbs. Bob Parsley of Principal of Colliers International is handling the leasing for Park Towers. The two towers combine for more than 300,000 square feet of Class A office space, with two blocks of 111,250 square feet spanning five floors and multiple options for exclusive tenant signage capabilities. The redevelopment should be finished by the end of the year. Ziegler Cooper Architects is the architect, and O’Donnell Snider Construction is the general contractor.

March 24, 2016

Office Texas

KBS Signs More Than 60,000 SF in Leases at West Loop I & II in Metro Houston

by Haisten Willis March 24, 2016

BELLAIRE, TEXAS — KBS Strategic Opportunity REIT, a non-traded real estate investment trust based in Newport Beach, Calif., has signed nine leases totaling 60,227 square feet at West Loop I & II in Bellaire with tenants in the medical and financial industries. Bellaire Dermatology and Eye Center of Texas signed the two largest leases, at 16,334 square feet and 15,120 square feet, respectively. Located three miles west of Houston’s central business district, West Loop I & II is a Class A, two-building office complex with 313,873 rentable square feet. It sits on a 5.6-acre office property with an eight-story parking garage and a covered walkway. The property is near the residential communities of Bellaire and West University with access to I-610. Amenities include structured parking, a deli, park and on-site security. John Spafford and Allie Hubbard of PM Realty Group represented KBS in the lease negotiations. Greg Hall with Greater Houston Commercial Properties represented Eye Center of Texas, and Jon Silberman and Dan Boyles of NAI Partners represented Bellaire Dermatology.

March 24, 2016

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