Office

Stan Johnson Completes Sale of Victory Energy Headquarters in Oklahoma for $9.3M

by Haisten Willis November 5, 2015

COLLINSVILLE AND CUSHING, OKLA. — Stan Johnson Co. has completed the sale of a portfolio leased to Victory Energy. Triple Net Acquisitions purchased the portfolio for $9.3 million in Oklahoma. The site in Collinsville includes Victory Energy’s Class A corporate headquarters. The property in Cushing operates as a manufacturing and distribution facility. Both Victory Energy properties are located in metro Tulsa, an area that accounts for nearly one-third of the manufacturing in Oklahoma and over 56,000 energy-related jobs. The sale-leaseback proceeds will support Victory Energy’s plan for an additional 101,000-square-foot facility. Camille Renshaw of Stan Johnson Co.’s New York office represented the seller in the sale of the portfolio.

November 5, 2015

BMC Capital Provides $6M Loan for Single-Tenant Property in Austin

by Haisten Willis November 5, 2015

AUSTIN, TEXAS — Tony Talamas of BMC Capital’s Houston office has arranged a $6 million loan for the cash-out refinancing of a single-tenant property leased to a credit tenant in Austin. The loan was placed with one of BMC Capital’s correspondent CMBS relationships. The non-recourse loan features a 10-year, fixed-rate term with a 4.96 percent interest rate and 30-year amortization schedule.

November 5, 2015

Industrial Midwest Minnesota Office

Fairbridge Properties Sells Industrial, Research Facility in Minneapolis Suburb for $14M

by Christina Cannon November 5, 2015

COON RAPIDS, MINN. — Fairbridge Properties has sold a 261,805-square-foot flex facility in Coon Rapids, a northern suburb of Minneapolis, for $14 million. The industrial and research facility is located at 8840-8880 Evergreen Blvd. and is occupied by Honeywell Aerospace and MEDRAD. Shopoff Realty Investments purchased the property. Fairbridge realized an internal rate of return of 75 percent. After obtaining ownership of the building in 2013, Fairbridge made renovations including repainting the building’s exterior, replacing windows, resurfacing a portion of the parking lot and retrofitting the parking lot lighting. Fairbridge sold the property as part of a 1031 exchange, and the company is in the process of identifying a new investment to complete the exchange.

November 5, 2015

Industrial Loans Maryland Office Southeast

Berkadia Originates $12M Loan for Flex Property in Maryland

by Haisten Willis November 4, 2015

FREDERICK, MD. — Berkadia recently arranged a $12 million loan for Highland Technology Center, an office and industrial property located in Frederick, Md. Ben Van Horn of Berkadia’s Scottsdale, Ariz. office secured the fixed-rate financing through Bank of America Merrill Lynch. The borrower, Envision Highland LLC, will use the financing to acquire the property for $16 million. Loan terms include a 4.9 percent interest rate, a 75 percent loan-to-value ratio and a 30-year amortization schedule. David Monassebian, Martinn Winters and Luke Reetz represented Envision Highland in the transaction. Highland Technology Center consists of 150,700 square feet of office and industrial warehouse space. Tenants include Fairchild Controls and Engage. The property is over 98 percent occupied. Located at 550 Highland St., the property offers access to I-70 and I-270. It is also located near the Frederick Municipal Airport and Frederick Fairgrounds.

November 4, 2015

Arizona Office Western

Arizona School of Real Estate & Business Building Sells for $7.7M

by Nellie Day November 4, 2015

SCOTTSDALE, ARIZ. – A 17,711-square-foot facility in Scottsdale that houses the Arizona School of Real Estate & Business has sold to Arc Construction and MacDonald Development for $7.7 million. The school is located at 7142 E. 1st Street in the downtown region. The sale also includes an adjacent parking lot on 40,623 square feet of land. Bill Gray, the school’s original founder, was represented by Jon Rosenberg and Keri Davies of LevRose Commercial Real Estate.

November 4, 2015

Arizona Office Western

BBB Buys McMurry Buildings in Phoenix for $4.3M

by Nellie Day November 4, 2015

PHOENIX – The Better Business Bureau (BBB) has purchased the McMurry Buildings in Phoenix for $4.3 million. The center is located at 1002-1010 E. Missouri Ave. It includes two office buildings with a total of 25,918 square feet. The space was previously occupied by McMurry/TMG, an online marketing, advertising and print publishing company. BBB was represented by Kevin Lange of Keyser. The seller, McMurry Properties, was represented by Bill Blake and Colton Trauter of Lee & Associates.

November 4, 2015

California Office Western

El Segundo Office Building Changes Hands

by Nellie Day November 4, 2015

EL SEGUNDO, CALIF. – A 119,484-square-foot office building in El Segundo has sold to a partnership between Roxborough Fund I and Montana Avenue Capital Partners for an undisclosed sum. The property is located at 1700 East Walnut Ave. It is 99 percent leased. The partners plan to reposition the property. It is their first acquisition.

November 4, 2015

Colorado Office Western

CH2M Renews Lease for Headquarters Space in Englewood

by Nellie Day November 3, 2015

ENGLEWOOD, COLO. — CH2M has renewed its lease for a 370,485-square-foot office facility in the Denver submarket of Englewood. The space is located at 9191 S. Jamaica Street. The global engineering and project delivery company has leased the three-building property since 2007. This represented the largest office lease in Denver so far this year, according to Savills Studley, which represented CH2M. Monty Harris and Rob Link worked on behalf of the firm. The landlord, Columbia Property Trust, was represented by Jamie Gard and Jeff Castleton of Newmark Grubb Knight Frank.

November 3, 2015

Alabama Loans Office Southeast

Meridian Arranges $35M in Acquisition Financing for Office Park in Metro Birmingham

by Haisten Willis November 3, 2015

HOOVER, ALA. — Meridian Capital Group has negotiated $35 million in acquisition financing for the purchase of the Meadowbrook North Office Park located in Hoover on behalf of The Matrix Group. The two-year loan, provided by Rialto Mortgage Finance, features a LIBOR-based floating-rate, interest-only payments for the full term and a one-year extension option. Tal Bar-Or, Judah Neuman and Kyle Kite of Meridian’s New York City headquarters negotiated the transaction. Meadowbrook North Office Park, located at 100, 300, 500 and 1200 Corporate Drive on U.S. Highway 280, includes four Class A office buildings totaling 509,000 square feet. Developer Daniel Corp. built the property. Amenities include a 13-acre lake, 1.3-mile walking trail, three daycare facilities and a post office. The Hoover submarket contains Birmingham’s highest concentration of Class A office stock, totaling 4.7 million square feet.

November 3, 2015

Georgia Industrial Multifamily Office Retail Southeast

Colliers International Group Acquires Colliers International Atlanta

by Haisten Willis November 3, 2015

NEW YORK CITY & ATLANTA — Colliers International Group has acquired Colliers International Atlanta. The current shareholders of Colliers Atlanta will continue to retain equity in the business under Colliers’ unique partnership model. Terms of the transaction were not disclosed. Founded in 1967, Colliers International Atlanta offers a full range of services for commercial real estate owners and occupiers. Comprising more than 250 professionals, Colliers International Atlanta provides investment sales, lease brokerage, capital markets, property management and project management to local, regional, national and international clients.

November 3, 2015

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