Office

American Real Estate Partners Buys CenterPointe at Bridgewater for $24.7M

by Amy Works April 3, 2015

BRIDGEWATER, N.J. — American Real Estate Partners has acquired CenterPointe at Bridgewater, a four-building office park located at 1130, 1140, 1150 and 1160 Route 22 East in Bridgewater. The 331,846-square-foot asset sold for $24.7 million. Situated on 20 acres, the property features flexible and highly efficient office space, fitness and food amenities, a conference facility and on-site management. American Real Estate Partners plans to invest $2.7 million in capital improvements to the office campus, including improved finishes and upgrades to elevators, lobby and common areas. At the time of sale, the campus was 54 percent leased, with two buildings 100 percent leased. The property is being acquired by a joint venture sponsored by a discretionary fund managed by American Real Estate Partners and is the fund’s fourth investment. The name of the seller was not disclosed.

April 3, 2015

Arizona Office Western

Arizona DCS Office in Phoenix Sells for $3.1M

by Nellie Day April 2, 2015

PHOENIX – Arizona DCS Office in Phoenix has sold to TH Stratman for $3.1 million. The space is located at 3310 and 3320 N. 19th Ave. The two-story office building is fully leased to the Arizona Department of Child Safety (DCS) through the end of 2021. The space was built in 1983. It was remodeled in 2011 and 2014. The seller, Fenway Properties, was represented by DTZ’s Eric Wichterman and Mike Coover.

April 2, 2015

District of Columbia Office Southeast

HFF Brokers $109M Sale of Downtown D.C. Office Building

by John Nelson April 2, 2015

WASHINGTON, D.C. — HFF has brokered the $109 million sale of a 195,624-square-foot office building located at 2025 M St. N.W. in downtown Washington, D.C.’s Golden Triangle area. James Meisel, Dek Potts, Andrew Weir, Stephen Conley, Matthew Nicholson and Jessica Diorio of HFF represented the seller, a partnership between The Oliver Carr Co. and Clark Enterprises Inc. Mikeone EK purchased the asset, which was fully leased at the time of sale to tenants such as Kaplan, Radio Free Asia and Smith Bucklin. CBRE arranged acquisition financing for the transaction.

April 2, 2015

Loans Office Southeast Virginia

PCCP Provides $34.6M Refinance Loan for Office Building in Arlington

by John Nelson April 2, 2015

ARLINGTON, VA. — PCCP LLC has provided a $34.6 million senior loan to refinance a nine-story, 114,766-square-foot office building in Arlington. The asset is located in the Courthouse submarket of Arlington’s Rosslyn-Ballston Corridor. The borrower, Washington, D.C.-based Penzance, will use the loan to refinance maturing debt on the asset, as well as finance tenant improvements, leasing efforts and renovations. Built in 1987, the office building is currently occupied by 14 tenants, 11 of which use the office building as their corporate headquarters.

April 2, 2015

Illinois Loans Midwest Office

Thorofare Funds $5.3M Bridge Loan for 1144 W. Fulton Market in Chicago

by John Nelson April 1, 2015

CHICAGO — Thorofare has funded a $5.3 million bridge loan for 1144 W. Fulton Market in Chicago. The Class A office property is 78.5 percent occupied. Thorofare will advance a capital expenditure and leasing cost earn-out facility in order to capitalize the sponsor’s business plan of converting the ground floor from office to retail to improve the profitability of the property and fill the retail void in the neighborhood. Thorofare capitalizes its transactions through a series of private closed-end funds on behalf of institutional investors.

April 1, 2015

Loans North Carolina Office Southeast

HFF Arranges $7.6M Acquisition Loan for Office Building in Charlotte

by John Nelson April 1, 2015

CHARLOTTE, N.C. — HFF has arranged $7.6 million in acquisition financing for Quail Plaza, an 86,979-square-foot office building located at 7621 Little Ave. in south Charlotte. Travis Anderson, Jim Curtin, Cory Fowler and Ryan O’Dwyer of HFF arranged the three-year, floating-rate loan through Wells Fargo Bank on behalf of the borrower, TriGate Capital. The five-story office building was 84 percent leased at the time of financing to tenants such as The Steritech Group, FedEx, American Realty Capital, Landworks Design Group PA, Union Security and Mutual of Omaha.

April 1, 2015

Arizona Office Western

Sonora Quest Laboratories Renews Lease in Tucson

by Nellie Day April 1, 2015

TUCSON, ARIZ. – Sonora Quest Laboratories has renewed its lease for 2,393 square feet of office space in Tucson. The space is located at 1440 W. Valencia Road. The transaction was executed by Rick Kleiner and Tom Knox of Cushman & Wakefield | PICOR.

April 1, 2015

Office Utah Western

Spring Mobile Leases Space at Gateway Tech Center in Salt Lake City

by Nellie Day March 31, 2015

SALT LAKE CITY – Spring Mobile has leased 21,538 square feet of office space at Gateway Tech Center in Salt Lake City. The space is located at 155 North 400 West. Spring Mobile was represented by Chris Falk of Newmark Grubb ACRES. The landlord, KBSIII, was represented by CBRE’s Nadia Letey.

March 31, 2015

Office Texas

CBRE Arranges $16M Acquisition Financing For Medical Office Building in Austin

by Haisten Willis March 31, 2015

AUSTIN, TEXAS — CBRE has arranged $16 million in acquisition financing for Southwest Medical Village, a fully occupied Class A medical office building in Austin. Working on behalf of an undisclosed borrower, CBRE Capital Markets secured a 10-year loan with eight years of interest-only payments and a 60 percent loan-to-value ratio. The loan was originated through CBRE Capital Markets’ relationship with PNC Bank. Built in January 2014, the fully leased asset includes 70,000 square feet of medical office space and offers a parking ratio of 5.1 per 1,000 net rentable square feet. The property, located at 5625 Eiger Road, is anchored by Premier Family Physicians, an independent, physician-owned family medicine practice, and also includes 18 other specialty practices. Kornberg, Doug Seylar, Scott Larson, Ben Bastian, Greg Greene, Scott Lewis and Taylor Pearce of CBRE arranged the loan for the borrower.

March 31, 2015

Illinois Midwest Office

Metonic Real Estate Solutions Buys 58,000 SF Office Building in Chicago

by Danielle Everson March 31, 2015

CHICAGO — Metonic Real Estate Solutions has purchased a six-story, 58,000-square-foot, brick and timber office building in Chicago for an undisclosed sales price. The property is located at 217 N. Jefferson St. in the West Loop and includes an adjacent 40-stall surface parking lot. The building was originally constructed in 1938 and redeveloped in 2008. It is fully occupied primarily by technology and creative tenants.

March 31, 2015

Newer Posts

Older Posts

Upcoming Events

Jun
17