Office

Mission Capital Arranges $16.5M Loan for Valley Square Office Complex in Pennsylvania

by Amy Works March 30, 2016

BLUE BELL, PA. — Mission Capital Advisors has arranged a $16.5 million bridge loan for Valley Square, an office complex located at 512 Township Line Road in Blue Bell. Steven Buchwald and Lexington Henn of Mission Capital secured the loan for the borrower, Contrarian Capital Management. After acquiring the five-building, 289,194-square-foot complex in 2013 for $8.5 million, Contrarian and its operating partner, Corvest Realty Group, implemented millions of dollars of capital improvements at the property and substantially leased many of the upgraded buildings. Originally constructed in 1983, the property is located approximately 20 miles northwest of Philadelphia.

March 30, 2016

Industrial Office Texas

Henry S. Miller Arranges Sale of Flex Building in Dallas

by Haisten Willis March 30, 2016

DALLAS — Parvez Malik of Henry S. Miller’s investments and land division has sold a 41,000-square-foot office/warehouse building in Dallas. Located at 1750 Regal Row, the property is near I-35 and Dallas Love Field Airport. Sumair Trading Inc. purchased the building from Regal Row Center Ltd. Malik represented Sumair Trading in the transaction, while James Mantzuranis of Stream Realty represented the seller.

March 30, 2016

Equitable Building 100 Peachtree Atlanta

Georgia Loans Office Southeast

Principal Global Investors Provides $43.3M Loan for Equitable Building in Atlanta’s CBD

by John Nelson March 30, 2016

ATLANTA — Principal Global Investors has provided a $43.3 million loan for 100 Peachtree, a 625,424-square-foot, Class A office tower in Atlanta’s central business district (CBD). Known locally as the Equitable Building, the 32-story office tower features a conference center with a boardroom, three conference rooms, a mock courtroom, fitness center, dry cleaner, florist, FedEx-Kinko’s, Dunkin’ Donuts, Starbucks and parking for 928 vehicles. The asset was 61 percent leased at the time of sale to tenants such as Koch Properties, Accenture, Fulton County Public Defender, Atlanta BeltLine Inc. and McGuire Woods LLP. Mark Sixour and Gregg Shapiro of HFF arranged the four-year, floating-rate loan on behalf of the borrower, an affiliate of Five Mile Capital Partners LLC, which plans to refinance an existing loan and provide funds for capital improvements, tenant improvements and leasing commissions.

March 30, 2016

Arizona Office Western

Wentworth Property Co. Buys Tempe Office Building for $16.5M

by Nellie Day March 30, 2016

TEMPE, ARIZ. — Wentworth Property Co. has purchased a 228,000-square-foot office building in Tempe for $16.5 million. The building is located at 1515 W. 14th St. It was vacant at the time of sale. The buyer is undertaking significant renovations to the property. CBRE’s Barry Gabel and Chris Marchildon and JLL’s Karsten Peterson, Dave Seeger and Mark Gustin represented the seller, BF Enterprises, in this transaction. The same team will lease the property.

March 30, 2016

California Office Western

SeneGence International Leases Office Space in Foothill Ranch

by Nellie Day March 30, 2016

FOOTHILL RANCH, CALIF. — SeneGence International has leased 50,000 square feet of office space in Foothill Ranch. The new space is located at 19651 Alter. The beauty and personal care company is relocating from its current headquarters in the Irvine Spectrum. Andrew Morrow of Savills Studley represented SeneGence. CBRE’s Gregg Haly and Tyler Haly represented the landlord, Western States, in this transaction.

March 30, 2016

one-wells-fargo-center-301-south-college-charlotte

North Carolina Office Southeast Top Stories

Starwood Capital, Vision Properties Sell One Wells Fargo Center in Charlotte for $284M

by Haisten Willis March 30, 2016

CHARLOTTE, N.C. — In one of the largest office building transactions ever in North Carolina, Starwood Capital and Vision Properties have sold One Wells Fargo Center in Charlotte’s central business district for $284 million. According to the Charlotte Observer, the buyer was a limited liability company tied to Dennis Troesh, a Nevada businessman who founded a concrete company in the 1970s that was later acquired by Tokyo-based Mitsubishi Materials Corp. Starwood and Vision purchased the building in 2013 for $245 million. One Wells Fargo Center opened in 1988 and is located at 301 S. College St. The 42-story tower, which spans more than 1 million square feet, is home to a mix of financial, legal and real estate firms. One Wells Fargo Center serves as the East Coast headquarters for Wells Fargo, the largest bank in the world in terms of market capitalization. The building was 98 percent occupied at the time of sale. The building features amenities such as covered parking, two restaurants, the Childress Klein YMCA, a coffee shop and a dry cleaner. It also serves as one of only two downtown buildings with direct access to the LYNX public transportation system. One Wells Fargo Center is on …

March 30, 2016

California Office Western

Sunroad Enterprises to Develop Centrumplace Office Campuses in San Diego

by Nellie Day March 29, 2016

SAN DIEGO — Sunroad Enterprises has announced plans to develop Centrumplace II and III, a 583,000-square-foot office campus in central San Diego. Centrumplace is the commercial centerpiece of the Centrum Master Plan, which includes eight acres of business facilities, retail, residences and green space. The development already features Centrum I, a 275,000-square-foot building completed in 2008. The new addition will include Centrum II and Centrum III. The structures will include flexible floor plates that can range from 24,800 to 59,500 square feet. Dave Odmark, Eric Vann and Brian Starck from Cushman & Wakefield will lease the property. Gensler is designing the campus.

March 29, 2016

Office Texas

Milestone Electric & Air Opens Office, Training Center in Metro Dallas

by Haisten Willis March 29, 2016

GRAND PRAIRIE, TEXAS — Milestone Electric & Air Inc. has opened an 11,715-square-foot office and training center in the Grand Prairie Tech Center in the Upper Great Southwest Industrial District. The local HVAC contractor has signed a long-term lease at 2302 113th St. Will Dillard and Michael Spain of Dallas-based Bradford Commercial Real Estate Services represented the landlord, 2302 113th Street GP. David Rouble of David Rouble Brokerage represented Milestone.

March 29, 2016

Georgia Office Southeast

Carter Validus Mission Critical REIT II Buys Data Center in Metro Atlanta for $15.8M

by John Nelson March 29, 2016

ALPHARETTA, GA. — Carter Validus Mission Critical REIT II Inc. has purchased Alpharetta Data Center III in Alpharetta, a northern suburb of Atlanta, for approximately $15.8 million. The property is a single-story, 77,322-square-foot colocation data center situated within 1,500 feet of a Georgia Power substation. The property is fully leased to Sungard Availability Services LP, an IT and cloud information services provider based in Wayne, Pa.

March 29, 2016

Midwest Office Ohio

CDK Global Signs 172,000 SF Lease in Cincinnati Suburb for National Customer Service Center

by Christina Cannon March 29, 2016

NORWOOD, OHIO — CBRE has arranged a 172,000-square-foot, long-term lease for CDK Global, the largest global provider of information technology and digital marketing solutions for the automotive retail industry. CDK Global will operate a national customer service center at Central Parke I & III in Norwood, approximately 10 miles northeast of Cincinnati. CDK Global will bring 1,000 full-time jobs to Norwood. Travis Likes and John Eckert from CBRE’s Cincinnati office, in addition to David Saad from the Chicago office, represented CDK Global in the deal.

March 29, 2016

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