Office

NAI Partners, NAI Robert Lynn Arrange Office Relocation in Metro Dallas for GEICO

by Haisten Willis August 5, 2015

RICHARDSON, TEXAS — NAI Partners and NAI Robert Lynn have represented GEICO with the relocation and leasing of its regional office. The new complex, located at 2280 N. Greenville Ave. in Richardson, is the former headquarters of Fossil Inc. The office spans 233,000 square feet and will serve more than 1,600 GEICO associates. Griff Bandy and Jon Silberman of NAI Partners, along with Tom Lynn and Nick Lee of NAI Robert Lynn, represented GEICO in the transaction. Chuck Sellers and Lauren Perry of Peloton Commercial Real Estate represented the landlord, CNL Commercial Real Estate.

August 5, 2015

YouTube World Headquarters in San Bruno Changes Hands

by Nellie Day August 5, 2015

SAN BRUNO, CALIF. — A two-building office campus in the San Francisco Bay submarket of San Bruno has changed hands. The Class A campus serves as the world headquarters for YouTube. Neither the buyer, nor the price was disclosed. The campus is located at 900 and 1000 Cherry, within the Bayhill Office Park. It is situated directly adjacent to interstates 280 and 380. Both properties are fully leased to Google through 2022. They feature highly improved video/audio suites, high-end office finishes with creative spaces and conference rooms, and an “Immersion Room” that simulates a 360-degree video stream. The buildings also offer two full-service cafeterias, kitchen/pantry suites with lounge areas on each floor, a fitness center with lockers and showers, bike room with storage, and a multi-functional conference room for corporate events and executive retreats. HFF’s Steven Golubchik represented the seller, a fund managed by Cornerstone Real Estate Advisers.

August 5, 2015

California Office Western

Irvine Co. Announces Plans to Build Six New Buildings at Irvine Spectrum

by Nellie Day August 5, 2015

IRVINE, CALIF. — The Irvine Co. has announced its plans to build six “Next Gen Campus Office” buildings at the Irvine Spectrum. The buildings will total 528,000 square feet. They will be situated within the Spectrum’s Discovery Business Center and Sand Canyon Business Center projects. Discovery Business Center will receive four buildings totaling 317,000 square feet. The customizable space will be called the Quad at Discovery Business Center. Two new buildings totaling 212,000 square feet are planned at Sand Canyon Business Center as well. Construction is scheduled to commence early next year, with a completion date of early 2017. The Next Gen Campus Office will feature modern architecture, including floor-to-ceiling glass and aluminum curtain walls for natural light and energy efficiency. Amenities will include advanced infrastructure for technology, and fitness and wellness centers offering indoor and outdoor activities like yoga and bike-sharing programs. The Commons, a large open-air space at the heart of each campus, will feature a Wi-Fi-enabled outdoor living room, sun decks, al fresco dining, barbeques and other areas for people to work, collaborate or take a break.

August 5, 2015

Arizona Office Western

Griffin Capital Buys Aetna Life Insurance Building in Tucson

by Nellie Day August 5, 2015

TUCSON, ARIZ. — Griffin Capital Corp. has acquired the 100,273-square-foot Aetna Life Insurance Co. building in Tucson for an undisclosed sum. The building is fully leased to the life insurance company. Aetna signed a new 10-year lease at the property as part of the sale-leaseback. The terms include an annual base rental rate increase of 3 percent with no termination or contraction options. The company has resided at this space since it was constructed as a build-to-suit in 2001. Cushman & Wakefield’s Boston office, along with Cushman & Wakefield’s Tucson affiliate, Picor Commercial Real Estate Services, represented Aenta in the deal. Griffin Capital Essential Asset REIT II is the official purchaser of the asset.

August 5, 2015

New Jersey Northeast Office

HFF Brokers Sale of 100,000 SF Office Building in Parsippany

by Amy Works August 5, 2015

PARSIPPANY, N.J. — Holliday Fenoglio Fowler (HFF) has arranged the sale of Halsey Corporate Center, an office building located at 90 E. Halsey Road in Parsippany. Stockbridge Capital Group sold the property to Boxer F3 LLC for an undisclosed price. The 100,000-square-foot building features a three-story, glass-enclosed atrium lobby and full-service cafeteria. At the time of sale, the property was leased to eight companies, including Chemtrade. Jose Cruz, Kevin O’Hearn, Michael Oliver, Stephen Simonelli and Andrew Scandalios of HFF represented the seller in the transaction.

August 5, 2015

Georgia Office Southeast

Grubb Properties Acquires Three Office Buildings in Atlanta’s Central Perimeter Submarket for $32.7M

by John Nelson August 5, 2015

ATLANTA — Grubb Properties has purchased three mid-rise office buildings in Atlanta’s Central Perimeter submarket from Atlanta Property Group for $32.7 million. The buildings, known as The Park at Perimeter Center East, total 284,500 square feet and are located north of I-285 and east of Ashford Dunwoody Road. Grubb Properties plans to invest $5.2 million in capital improvements for the office assets. This is the first office acquisition in the Atlanta area for Grubb Properties.

August 5, 2015

Midwest Minnesota Office

Colliers International Brokers Sale of River Park Plaza in St. Paul, Minn. to Cohen Equities

by Jonathan Mehall August 4, 2015

ST. PAUL, MINN. — Colliers International has brokered the sale of the River Park Plaza office building in St. Paul to Cohen Equities, a New-York based real estate firm. Cohen Equities acquired the 343,000-square-foot building at auction. The building sale closed on Friday, July 24. The property is located at 10 River Park Plaza along the Mississippi River. Comcast’s regional office is a main tenant of River Park. Bob Pounds of Colliers’ Minneapolis-St. Paul office represented LNR Property LLC, the seller of the building. In addition to managing the leasing for the building, Colliers has also been selected by Cohen Equities to manage the property. According to the Minneapolis/St. Paul Business Journal, the final bidding price on 10 River Park Plaza before the time of sale was $20.1 million

August 4, 2015

Mixed-Use Office Texas

Texas Children’s Pediatrics Signs on at Mixed-Use Development in Houston

by Haisten Willis August 4, 2015

HOUSTON — Texas Children’s Pediatrics has agreed to open a new pediatric center in The Boardwalk at Towne Lake in Houston. Texas Children’s Pediatrics will occupy the top floor of one of the four Boardwalk buildings. Located off Highway 290 and Barker Cypress Road, the mixed-use waterfront development offers retail and restaurant spaces, as well as a central green area for events and boat slips for lake access. The Boardwalk at Towne Lake serves as an amenity the 3,000 residents of Towne Lake, a 2,400-acre master planned community connected by a 300-acre recreational lake. Texas Children’s Pediatrics is the largest pediatric primary care network in the country with 50 practices throughout the Houston area. Boardwalk at Towne Lake’s four buildings feature 40,000 square feet of waterfront office space and 60,000 square feet of retail space.

August 4, 2015

Office Texas

Brandywine Realty Trust Acquires 1.1M SF Broadmoor Campus in Austin

by Haisten Willis August 4, 2015

AUSTIN, TEXAS — Brandywine Realty Trust has acquired the remaining interest in the Broadmoor campus located at 11501 Burnet Road in Austin. The acquisition provides full ownership of the seven-building, 66-acre, 1.1 million-square-foot office campus located directly adjacent to The Domain. The Broadmoor campus was developed for IBM, which has been the sole occupant and a joint venture partner with Brandywine and its predecessor company since the campus was developed in 1991. Brandywine has started developing a master plan to ensure an accelerated transition to a mixed-use, multi-tenant destination that will offer new amenities for workers in and around the campus. Brandywine has also launched the marketing campaign for two established buildings that will be available for lease by April 2016, providing 345,000 square feet of Class A office space for Austin’s new and expanding businesses.

August 4, 2015

Loans Office Texas

HFF Arranges Sale, Financing of Energy Square in Dallas

by Haisten Willis August 4, 2015

DALLAS — HFF has arranged the sale of and arranged financing for Energy Square, a 948,678-square-foot, Class A office project in Dallas. HFF marketed the property on behalf of the sellers, Lincoln Property Co., Champion Partners and Long Wharf Real Estate Partners. Energy Square was purchased by a partnership between GlenStar Properties and USAA Real Estate Co. The new owner was also assisted in securing floating-rate financing through Wells Fargo Bank by HFF. Energy Square consists of a 10.3-acre site containing three buildings, plus a one-acre development site zoned for a mixed-use development. The properties feature a fitness center, three conference centers, multiple food service options, Grub Burger Bar restaurant, an outdoor plaza and direct access to the DART Light Rail. Energy Square is 82 percent leased to tenants including New York Life Insurance Co., Davaco and Advanced Homecare. Located at 4925 and 4849 Greenville Ave. and 6688 N. Central Expressway, respectively, Energy Square is situated just off the North Central Expressway near Southern Methodist University north of downtown Dallas.

August 4, 2015

Newer Posts

Older Posts