Office

HBSB2-university-of-houston-health-biomedical-sciences-building

$145M Health and Biomedical Sciences Building to Be Constructed at University of Houston

by Haisten Willis February 19, 2016

HOUSTON — The University of Houston (UH) is getting a second Health and Biomedical Sciences Building (HBSB2). The nine-story, 300,000-square-foot facility will be the next phase of the development of UH’s biomedical district. With a project budget of $145 million, HBSB2 will be home to specialized research and teaching labs, faculty and staff offices, an expanded health sciences library and a mix of teaching spaces, including auditoriums and smaller learning spaces for group and individual study. While construction is already underway, a ceremonial groundbreaking will take place at 10 a.m. on Feb. 29. HBSB2 will be the new home of the UH College of Pharmacy and will consolidate faculty and students currently housed in the Texas Medical Center and Science and Research 2 buildings. The consolidation will help integrate teaching, research and clinical programs. Shepley Bulfinch, the architectural firm that completed HBSB1 in 2013, is the architect of HBSB2.

February 19, 2016

JaRyCo Breaks Ground on 94,000 SF Tech Center in Metro Dallas

by Haisten Willis February 19, 2016

ALLEN, TEXAS — Development firm JaRyCo has begun construction on Tech Center One, Phase I of an office/warehouse complex at Greenville Avenue and Bethany Drive in Allen. Completion of the 38,000-square-foot office/warehouse hybrid building is expected in August. Two additional building phases are planned for a total of 94,000 square feet. A groundbreaking ceremony for the project is set for Feb. 25. at 2 p.m. This will be the 10th project in Allen for JaRyCo in the last 15 years. George Tanghongs and Brett Lewis of Lee & Associates’ Dallas/Fort Worth office are marketing the property.

February 19, 2016

Loans North Carolina Office Southeast

Q10 Professional Mortgage Arranges $9.5M Acquisition Loan for Durham Office Building

by John Nelson February 19, 2016

DURHAM, N.C. — Raleigh-based Q10 Professional Mortgage of North Carolina has arranged a $9.5 million acquisition loan for a Class A office building in Durham. The 104,400-square-foot property is located at 2530 Meridian Parkway within Meridian Business Park. The office building was 80 percent leased at the time of financing to tenants such as Regus Executive Suites and the RTP offices of Womble Carlyle Sandridge & Rice. Spencer Wilson of Q10 Professional Mortgage arranged the loan through RGA Reinsurance Group on behalf of the buyer, Rochester, N.Y.-based JPB Holdings. Jimmy Barnes and Whit Brown of NAI Carolantic represented the buyer in the acquisition. Ben Kilgore of CBRE represented the seller, Meridian Operating Associates LLC.

February 19, 2016

Loans New York Northeast Office

Hodges Ward Elliott Arranges $69M in Refinancing for Manhattan Office Building

by Amy Works February 18, 2016

NEW YORK CITY — Hodges Ward Elliott has arranged a $69 million loan on behalf of an institutional real estate investment firm for the refinancing of an office building. The property is located at 31 W. 27th St. in Manhattan’s Midtown South neighborhood. The 12-story, loft-style building offers 144,000 square feet of office space. The funding, which was provided by TD Bank, will allow the owner to complete its strategic business plan for the property, which was recently repositioned.

February 18, 2016

Healthcare Office Retail Texas

Texas Health Surgery Center Renews Medical Office Lease in Dallas

by Haisten Willis February 18, 2016

DALLAS — Texas Health Surgery Center has renewed its lease of 8,285 square feet and expanded to another 5,546 square feet at Preston Plaza in Dallas. An affiliate of Caddo Holdings LLC owns Preston Plaza, a retail center. Kyle Jacobs of Rubicon Representation LLC represented the tenant. Heather Shover and Sean Dalton at Younger Partners represented the landlord.

February 18, 2016

Illinois Midwest Office

Transwestern Arranges 47,038 SF Lease in Chicago for Coyne College

by Christina Cannon February 18, 2016

CHICAGO — Transwestern has arranged a 47,038-square-foot lease for Coyne College in Chicago’s Loop. The college will occupy the entire fourth floor at One North State, a 680,000-square-foot office tower, starting this June. Coyne College, which provides career training in allied health and construction trades, will move to the new location from its current campus at 330 N. Green St. John Marquardt, Cece Conway, Phil Utigard and William Briggs of Transwestern represented Coyne College in the lease transaction. Michael Lirtzman, Jeff Dowdell and Katie Steele of Transwestern represented the building’s owner, FD Stonewater LLC.

February 18, 2016

Midwest Office Wisconsin

Siegel-Gallagher Arranges 1,400 SF Office Lease in Milwaukee Suburb

by Christina Cannon February 18, 2016

ELM GROVE, WIS. — Siegel-Gallagher has arranged a 1,400-square-foot office lease in Elm Grove, approximately 10 miles west of Milwaukee. ABR Employment Services will occupy space at The Tradesman Building. Building Trades United Pension Trust Fund owns the property located at 500 Elm Grove Road. John Dulmes and Dan Walsh of Siegel-Gallagher brokered the transaction.

February 18, 2016

Office Texas

LandPark Arranges Acquisition of Two Office Buildings in Houston

by Haisten Willis February 17, 2016

HOUSTON — Peter Wall and Bill McGrath of LandPark Advisors have represented Stone Mountain Properties in the acquisition of two multi-tenant office buildings in Houston. The two buildings are located in the Westchase District and total 154,704 square feet of rentable area. The new buildings, located at 2424 and 2500 Wilcrest Drive, are situated near the northwest corner of Wilcrest Drive and Westheimer Road. LandPark Advisors is the parent company to LandPark Commercial, which was hired to provide both property management and leasing services on behalf of Stone Mountain Properties.

February 17, 2016

Office Texas

KBS REIT Signs 15,600 SF in Office Leases in Metro Dallas

by Haisten Willis February 17, 2016

RICHARDSON, TEXAS — KBS Strategic Opportunity REIT, a non-traded real estate investment trust based in Newport Beach, Calif., has signed three leasing deals at its Richardson Office Portfolio totaling 15,688 square feet. Shea & McMurdie Financial and Stuart Gurnea are new tenants occupying the properties, and Treliant Risk Advisors is an existing tenant that recently renewed its lease. Shea & McMurdie Financial, a consultancy offering tax planning and other financial services, signed a 3,082-square-foot lease. Stuart Gurnea, an insurance agent, signed a 1,026-square-foot lease, and Treliant Risk Advisors, a compliance, risk management and strategic advisory firm for the financial services industry, has renewed its 11,580-square-foot lease. The Richardson Office Portfolio is a four-building office campus located on 43 acres near the intersection of US-75 Central Expressway and President George Bush Turnpike. Mark Jordan and Laura Maczka of Sooner National Property Management LP represented KBS Strategic Opportunity REIT in the lease transactions.

February 17, 2016

Office Texas

Boxer Property Arranges 19,384 SF Office Lease in Houston

by Haisten Willis February 17, 2016

HOUSTON — Boxer Property has arranged the lease of 19,384 square feet of office space to HRSS LLP, a full service accounting firm, at 6671 Southwest Freeway in Houston. Travis Taylor and Chris Nash of Lee & Associates represented HRSS LLP in the lease transaction. Trey Miller and Jessica Barrera of Boxer Property negotiated the lease on behalf of the landlord, a third-party vendor. Located in Southwest Houston, 6671 Southwest Freeway has full floor suites, as well as private offices available for rent. The building contains granite floors and offers four levels of parking. Boxer Property provides on-site security and management.

February 17, 2016

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