MINNEAPOLIS — NorthMarq Capital has arranged a $15.7 million loan for the refinancing of the BLN Office Park I & II, a 336,294-square-foot property in Bloomington, Minn. The property is located at 2001 and 2051 Killebrew Drive. Dan Trebil of NorthMarq Capital’s Minneapolis office originated the non-recourse bridge loan for the borrower through its correspondent relationship with a life insurance company.
GLENDALE, CALIF. – Television production company Tim & Eric, Inc. has signed a five-year lease for 15,300 square feet at a creative office campus in Glendale. The two-building property is located at 1442 and 1500 Flower Street. The lease is valued at $1.5 million. The production company was represented by Roger Beck and Gelena Skya-Wasserman of Charles Dunn Company. The landlord, Avalon Investment Company, was represented by Stevenson Real Estate.
OKLAHOMA CITY — Virtus Real Estate Capital, a real estate private equity firm based in Austin, has acquired a self-storage facility in Oklahoma City. The company has acquired Pro Storage, Virtus’ seventh acquisition in the Oklahoma City area since 2012. The purchase is the second in the firm’s joint venture partnership with Advantage Self-Storage. Pro Storage is a 65,475-square-foot Class A facility with 516 units. It was 94 percent occupied at the time of sale. Virtus plans to expand the building by 15,000 square feet, adding 124 units by the second quarter of 2015.
NEW YORK CITY — New York City-based Savanna in partnership with another New York-based company has acquired the controlling interest in One Court Square, a 1.5 million-square-foot Class A office and retail building in Long Island City. Designed by Skidmore, Owings & Merrill LLP, One Court Square is comprised of a 51-story Class A high-rise tower and a four-story low-rise annex building. The tower features 31,000-square-foot floor plates and views of the Manhattan skyline. Turner Construction built the property in 1989. David Werner and his investor group, which sold the controlling interest, will also remain a partner in the deal.
MADISON, N.J. — CBRE Group has brokered the sale of 2 Giralda Farms, a 146,366-square-foot office building in Madison. Maersk Inc. sold the property for $53.3 million to American Realty Capital Global Trust Inc. The property was originally designed as a build-to-suit for the North American headquarters of Maersk. Jeffrey Dunne, Kevin Welsh, Brian Schulz, Frank Maresca and Alec Monaghan of CBRE represented the seller, Maersk, in the transaction. Maersk has relocated its North American headquarters nearby to 180 Park Avenue in Florham Park. An undisclosed tenant had signed a long-term lease at 2 Giralda Farms before the sale took place.
BIRMINGHAM, MICH. — Friedman Integrated Real Estate Solutions has arranged the lease of a 3,353-square-foot office space located at 970 S. Old Woodward Ave. in Birmingham, approximately 19 miles northwest of Detroit. Robert Hibbert and Todd Hawley of Friedman Integrated Real Estate Solutions represented the undisclosed landlord and the tenant, Clarity Advanced Eye Care, in the transaction. Clarity Advanced Eye Care, headed by Dr. Jared Most and Dr. Phillip Elston, is a full-scope eye care center. The business is set to open this November.
LOS ANGELES – Waterbridge Capitalhas acquired a 1-million-square-foot building that formerly served as a department store for Hamburger’s and May Company for an undisclosed sum. The building is sits directly adjacent to the Historic Core, Financial, and South Park districts. The new owner plans to convert the property into a creative space.It will be the first creative campus of this size for the technology industry in Downtown Los Angeles according to CBRE, which represented the seller. Waterbridge was represented by Frank Lahijani and Jeremiah Curry of Global Commercial Real Estate. The seller, an undisclosed family ownership, was represented by CBRE’s Phillip Sample, Chris Caras and Michael Shustak.
TUMWATER, WASH. — Town Center East III, a 157,625-square-foot office campus in Tumwater, has received $26.7 million in financing. The tower is located at 243 Israel Road, about five miles from Olympia. The property was built in 2006. The permanent financing was arranged by NBS Financial, which represented both the lender and the borrower in this transaction. Jeff Henderson and Zack Goodwin executed this transaction.
OAKLAND, CALIF. – Avison Young has opened a new office in Oakland. The outpost will be located at 300 Lakeside Drive within the Kaiser Center in downtown Oakland. Charlie Allen will head up the office as managing principal. This is the Canadian firm’s 42nd office in the U.S. and its 10th in California.
DALLAS — Henry S. Miller Brokerage executive vice president Dan Spika has arranged the sale of an 11,857-square-foot office/showroom building in southwest Dallas. The building is located at 327 Cole St. on nearly one acre in the Dallas Design District. Chirnsley LLC purchased the property and intends to use it as office and showroom space. Jeff Swaney of JAS Realty represented the seller, 327 Cole Street Partners LLC.