Office

Ford Motor Co. Unveils Plans for $1.2B Renovation of World Headquarters Near Detroit

by Christina Cannon July 28, 2016

DEARBORN, MICH. — Ford Motor Co. has unveiled plans for a 10-year, $1.2 billion renovation of its Dearborn campus, roughly 10 miles west of Detroit, according to The Architect’s Newspaper, a New York-based print and web publication. The project will combine 30,000 employees from 70 buildings into two primary locations — a product campus and a world headquarters campus. Over 7.5 million square feet will be rebuilt and upgraded into more modern, green and high-tech space. The product campus will feature trails and walkways, autonomous vehicles, on-demand shuttles and eBikes. The world headquarters will feature a Ford credit facility. Both campuses will also include new employee services and heightened wireless connectivity. At the heart of the product campus will be a 700,000-square-foot design center, which will include new design studios and an outdoor design courtyard. Construction of the product campus is expected to be complete by 2023. Work on the world headquarters campus begins in 2021 and is expected to be complete in 2026.

July 28, 2016

Midwest Missouri Office

CBRE Brokers Sale of Two Office Buildings in Kansas City in Separate Transactions

by Christina Cannon July 28, 2016

KANSAS CITY, MO. — CBRE has brokered the sale of two office buildings in Kansas City in separate transactions. In the first deal, Highwoods Properties Inc. sold an 82,365-square-foot building to Price Brothers Development Co. for an undisclosed price. Park Plaza is located at 801 W. 47th St. In the second deal, a joint venture between Highwoods Properties Inc. and an investment group led by Angelo Mariani sold a 265,000-square-foot, Class A building to Stanton Road Capital LLC. Plaza West, located at 4600 Madison Ave., is currently 91 percent leased. Gina Anderson and Gary Carr of CBRE represented the seller in both transactions. The sales price in both transactions was undisclosed.

July 28, 2016

Industrial Life Sciences New Jersey Northeast Office

QuVa Pharma to Acquire 160,000 SF Biotech Facility in New Jersey

by Amy Works July 27, 2016

NEW JERSEY — QuVa Pharma Inc. has signed an agreement to acquire an FDA-approved biotech pharmaceutical facility near Route 78 in western New Jersey. The 160,000-square-foot facility will enable QuVa Pharma to significantly extend its production capability and capacity to deliver high-quality, ready-to-use compounded sterile drug preparations to hospitals in key markets in the eastern half of the United States. QuVa currently operates two 503B-registered manufacturing facilities in Texas. Terms of the sale, including the name of the seller and acquisition price, were not released.

July 27, 2016

Mixed-Use New Jersey Northeast Office Retail

Marcus & Millichap Brokers $3.2M Sale of Mixed-Use Building in New Jersey

by Amy Works July 27, 2016

BAYONNE, N.J. — Marcus & Millichap has arranged the sale of Bayonne Plaza, a mixed-use property located at 473 Broadway in Bayonne. A private investor acquired the property from a developer for $3.2 million. The building features 29,577 square feet of space. Alan Cafiero, David Cafiero and Ben Sgambati of Marcus & Millichap represented the seller and the buyer in the deal.

July 27, 2016

Healthcare Office Texas

Sanders Trust Purchases Trio of Hospitals for $115.5M

by Haisten Willis July 27, 2016

AUSTIN, DALLAS and CONROE, TEXAS — Alabama-based Sanders Trust has acquired three medical facilities in Texas for $115.5 million. The three facilities, located in Austin, Dallas and Conroe, are inpatient rehabilitation hospitals operated by affiliates of Birmingham’s HealthSouth. Together, they total 192,000 square feet. The Austin location includes 75 licensed beds, Dallas has 50 and Conroe has 60, according to the Houston Business Journal. Medical Properties Trust sold the hospitals in a joint venture transaction with Chicago-based capital partner Harrison Street Real Estate. JLL Healthcare Capital Markets represented Medical Properties Trust in the sale. First Tennessee Bank, Iberia Bank, Synovus Bank and Renasant Bank provided acquisition financing on behalf of Sanders Trust.

July 27, 2016

Office Texas

Hangover Opportunity Fund Sells 110,651 SF Bowen Chase Bank Building in Arlington

by Haisten Willis July 27, 2016

ARLINGTON, TEXAS — Hangover Opportunity Fund has sold the 110,651-square-foot Bowen Chase Bank building to a local investment group. Located at 1301 S. Bowen Road in Arlington, the Class B office building is situated on nearly seven acres. The fund has invested nearly $1.2 million into the property since its acquisition in January 2014, the bulk of which was spent on installing a new HVAC system and new lighting. Coldwell Banker Commercial Alliance DFW manages and leases the 34-year-old building, which was 94.4 percent occupied at the time of sale. Creighton Stark of Colliers International, along with Gary Walker of Coldwell Banker Commercial Alliance DFW, represented the seller in the transaction. The largest tenant is the state of Texas, which houses a handful of agencies in 48,206 square feet on several floors of the four-story building. Keller Williams, the second-largest tenant, occupies 16,375 square feet. A full-service Chase Bank and ATM area serve as the lobby centerpiece. Matt Carthey of Holt Lunsford Commercial represented the buyer, Arlington-based Duncan Holdings. Start to finish, the transaction closed within 45 days.

July 27, 2016

Office Texas

Trammell Crow Begins Construction on Children’s Hospital of San Antonio Health Pavilion

by Haisten Willis July 27, 2016

SAN ANTONIO — Trammell Crow Co. has begun construction on The Children’s Hospital of San Antonio Health Pavilion – Stone Oak. The three-story, 60,000-square-foot medical office building will be located at 1434 E. Sonterra Blvd. in San Antonio. Owned by Seavest, the project is scheduled for completion in summer 2017. The Health Pavilion – Stone Oak will be home to a variety of pediatric services and family practice groups, and will provide office space for Baylor College of Medicine physicians. The first floor of the building will be home to The Children’s Hospital’s’ third pediatric emergency room, called The Children’s Hospital of San Antonio Emergency Center – Stone Oak. Paul Barker with Endura Advisory Group in San Antonio has been appointed the leasing agent for the building. Trammell Crow’s Clayton Baca and Mark Fowler lead the development management of the project. Mark Siebert and Cristina Hernandez of MKS Associates designed the building. The engineering team comprises David Martinez of Pape Dawson, Roger Mendez of RGM Engineering, Steve Bourassa of Alpha Consulting Engineers and Jason Lochte of Cooper-Lochte Landscape Architecture.

July 27, 2016

Office Texas

JLL Arranges Medical Office Lease in Dallas

by Haisten Willis July 27, 2016

DALLAS — An unnamed major health system has leased 35,842 square feet in the street-level retail portion of the Colonial Reserve at Medical District multifamily complex. The property is located at 2222 Medical District Drive in Dallas. JLL’s Rob Franks and Cole Burdette represented the tenant. Younger Partners’ Heather Shover and Trae Anderson represented the landlord, Greenway Investment Co.

July 27, 2016

Office Washington Western

Hayman Advisors Acquires Microsoft-Anchored Office Complex in Redmond for $37M

by Nellie Day July 27, 2016

REDMOND, WASH. — Hayman Advisors has purchased Redmond Woods, a Microsoft-anchored, 145,221-square-foot office complex in Redmond, for $37 million. The complex is located at 5000, 5010 and 5020 148th Ave. NE. It includes three buildings that are fully occupied by seven tenants, including Microsoft Corp. The property is also adjacent to Microsoft’s world headquarters. NGKF’s Kevin Shannon and Michael Moll, with the assistance of CBRE’s Lou Senini and Tom Pehl, represented the seller, Clarion Partners, in this transaction.

July 27, 2016

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

First Potomac Realty Trust Sells Storey Park in Washington D.C. for $54.5M

by Haisten Willis July 27, 2016

WASHINGTON, D.C. — First Potomac Realty Trust (NYSE: FPO) has sold Storey Park, a mixed-use project currently under development in the NoMa submarket of Washington, to 1005 LLC for $54.5 million. When completed, Storey Park will include 350,000 square feet of office space, 65,000 square feet of retail and 300 loft apartments. An estimated completion date was not disclosed. The buyer is a partnership between Perseus Realty LLC and W-G Capital LLC, an affiliate of Four Points LLC and Greencourt Capital. First Potomac and Perseus Realty jointly acquired the site in August 2011, with First Potomac owning a 97 percent interest. The proceeds from the sale were used to repay a $22 million land loan at the property, and First Potomac used its portion of the remaining proceeds to repay outstanding borrowings on its unsecured revolving credit facility. Perseus Realty began as a Washington, D.C.-focused investment firm in 2004 and has created a development portfolio within the metropolitan area. W-G Capital is a Washington, D.C.-based private equity firm focused on real estate investments in the United States with a particular focus on the northeast corridor and the nation’s capital. FPO is a real estate investment trust that owns, operates, develops and …

July 27, 2016

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