Office

AAA Washington Buys One Newport Building in Bellevue for $29M

by Nellie Day January 27, 2016

BELLEVUE, WASH. — AAA Washington has purchased One Newport Building, an 89,850-square-foot office building in Bellevue, for $29 million. The Class A building is located at 3605 132nd Ave. SE. The insurance and full-service travel agency plans to occupy the first three floors of the building. The space was formerly occupied by T-Mobile. AAA Washington will renovate the property before moving in. Construction will commence Feb. 1, with a scheduled occupancy in the third quarter of 2016. The company’s construction and purchasing partners on this project include Swinerton Builders, JPC Architects, Pacific Project Management, Kidder Mathews, Wells Fargo and McCullough Hill Leary. Gary Guenther, Jason Rosauer, and Rob Anderson of Kidder Mathews represented AAA Washington. JLL’s J.J. Shephard and Riley Shephard represented the seller, Ivanhoe Cambridge.

January 27, 2016

Illinois Midwest Office

CBRE Arranges Sale of 94,986 SF Office Building In Chicago Suburb

by Christina Cannon January 27, 2016

ITASCA, ILL. — CBRE has arranged the sale of a 94,986-square-foot office property in Itasca, approximately 30 miles northwest of Chicago, for an undisclosed price. The undisclosed seller sold the four-story building to Hamilton Partners. Located at 1200 Arlington Heights Road, the property recently underwent upgrades including a newly renovated lobby and corridors. The facility, built in 1989, is 25 percent leased to six tenants. The building sits inside Hamilton Lakes, a 350-acre master-planned business community that includes an athletic club, Westin hotel and numerous restaurants. Bill Novelli, Derek Fohl and Robert Graham of CBRE represented the seller in the transaction. The buyer was self-represented.

January 27, 2016

California Office Western

Indian Tribe Leases Space at Monterey Park Office Campus

by Nellie Day January 27, 2016

LOS ANGELES — The Torres Martinez Desert Cahuilla Indian Tribe has signed a 126-month lease for a 24,408-square-foot office in the Los Angeles submarket of Monterey Park. The lease is valued at $8 million. The tribe will use the space for administrative offices. The property is located at 900 Corporate Center Drive, within the LA Corporate Center. The new lease takes the center to 94 percent occupancy. Steve Seinfeld of Cresa represented the tribe. Linda Lee, Scott Unger and Bill Boyd of Charles Dunn Company’s Glendale office represented the landlord, Los Angeles Corporate Center LLC, in this transaction.

January 27, 2016

Massachusetts Northeast Office

Jumbo Capital Management Acquires 60,000 SF Office Building in Massachusetts

by Amy Works January 27, 2016

ROCKLAND, MASS. — Quincy, Mass.-based Jumbo Capital Management has acquired an office building located at 1099 Hingham St. in Rockland. Rockland Havertraw Trust (Grossman Companies) sold the 60,000-square-foot Class A property for $8.5 million. Built in 1989, the three-story office building features a common loading dock, three-story atrium and ample parking. At the time of closing, the property was 94 percent leased to six nationally recognized tenants.

January 27, 2016

Mixed-Use Multifamily New York Northeast Office Retail

Marcus & Millichap Arranges $4.5M Sale of Development Site in Brooklyn

by Amy Works January 26, 2016

NEW YORK CITY — Marcus & Millichap has brokered the sale of a development site at 570 Nostrand Ave. in Brooklyn. The 4,550-square-foot site sold for $4.5 million, or $246 per buildable square foot. Jakub Nowak and Jason Grunberg of Marcus & Millichap represented the seller, a limited liability company, and the buyer, a developer, in the transaction.

January 26, 2016

Industrial Massachusetts Northeast Office

OMG Inc. Leases 86,031 SF of Warehouse/Office Space in Massachusetts

by Amy Works January 26, 2016

AGAWAM, MASS. — OMG Inc., a commercial roof fastening product manufacturing and supply company, has leased 86,031 square feet of warehouse and office space at 101 Almgren Drive in Agawam. Situated on 14.6 acres, the 187,900-square-foot industrial facility is owned by California-based Four Cities Partner LTD and master leased, as well as substantially occupied by Seattle-based Vaupell Holdings Inc. Sentry Commercial, in association with Hart Corp., represented Vaupell in the transaction.

January 26, 2016

California Loans Office Western

NorthMarq Capital Arranges $48M Refinancing for Olympic Plaza in Los Angeles

by Nellie Day January 26, 2016

LOS ANGELES — NorthMarq Capital has arranged a $48 million refinancing for Olympic Plaza, a 244,448-square-foot office property in Los Angeles. The property is located at 11500 West Olympic Blvd. The loan features a 10-year term and 25-year amortization schedule. Blake Melstrom of NorthMarq Capital’s Los Angeles office arranged the financing through a life insurance company.

January 26, 2016

Arizona Office Western

CSW Buys Office, Warehouse Space in Arizona for $3.1M

by Nellie Day January 26, 2016

CHANDLER, ARIZ. — CSW Land Co Riggs has purchased a 25,234-square-foot office and warehouse property in Chandler for $3.1 million. The asset is located at 11237 E. Riggs Road. It was formerly home to telecommunications contractor Stewart Electric & Communications. CSW Contractors plans to relocate to the space. CBRE’s John Werstler represented the buyer. Gail Brown of GPE represented Stewart Electric.

January 26, 2016

Hospitality Mixed-Use Multifamily Office Retail Texas

StreetLevel, Provident Realty Purchase Former Texas Instruments Campus for $500M Mixed-Use Development

by Haisten Willis January 26, 2016

STAFFORD, TEXAS — Dallas-based StreetLevel Investments and joint venture partner Provident Realty Advisors have purchased 192 acres in Stafford, including the former Texas Instruments (TI) campus. The firms plan to create a mixed-use development at the site that will feature 350,000 square feet of destination retail space, 2,400 residential units, Class A office space, two hotels, a health club, entertainment and green space in a walkable urban center. The finished product will include parking garages as well as street parking. Portions of the original TI buildings will be preserved and repurposed. Houston-based Gensler and TBG are project consultants. The first phase of the $500 million, multi-phase project is slated to open summer 2017.

January 26, 2016

One-Panorama-Center-MultiView-Irving-Texas

Office Texas

MultiView Renews Headquarters Lease at One Panorama Center in Irving

by Haisten Willis January 26, 2016

IRVING, TEXAS — Transwestern has represented MultiView Inc. in a 109,610-square-foot lease renewal for the digital marketing company’s corporate headquarters at One Panorama Center, located at 7701 Las Colinas Ridge in Irving. Transwestern’s John Fulton represented MultiView in the transaction, while Duane Henley and Nathan Durham, also of Transwestern, represented the building owner, Regent Properties. One Panorama Center is an eight-story, Class A office tower. The property is 10 minutes from Dallas/Fort Worth International Airport and near MacArthur Boulevard. Regent acquired the property in October 2014 and has implemented interior and exterior improvements since the purchase.

January 26, 2016

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