SANTA MONICA, CALIF. — Phase I of Water Garden Office Park, a two-building office complex in Santa Monica, has received a $260-million refinancing. The Class A complex is located at 1620 26th Street. The 12-year, fixed-rate loan was provided by New York Life Real Estate Investors. Stroock & Stroock & Lavan law firm represented the institutional investors, which were advised by J.P. Morgan Asset Management.
PHOENIX – DLS Worldwide has leased 78,843 square feet of office space at a new speculative building in Phoenix. The third-party logistics provider will use the space for its new headquarters, light manufacturing, and as an assembly and distribution facility. It will be situated in Building B. Phase I of the Airport I-10 speculative project will contain 600,000 square feet. It is being developed by Wentworth Property Company and Clarion Partners. The developer was represented by JLL’s Pat Harlan, Steve Sayre and Kyle Westfall. DLS was represented by Mike Gordon of Cresa.
NEW HAVEN, CONN. — Hamden, Conn.-based Highville Charter School has acquired an office building located at 1 Science Park in New Haven. AT&T sold the 108,000-square-foot property for $5.8 million. Highville plans to convert the property’s open layout into classrooms to meet its expanding needs. Alan Fischer of Fischer Real Estate Inc. represented the buyer, while Cushman & Wakefield represented the seller in the deal.
HOPKINTON, MASS. — R.W. Holmes has negotiated the sale of a multi-tenanted flex building, located at 227-233 South St. in Hopkinton. 227-229 South Street LLC purchased the 43,000-square-foot property for $5.35 million from Mar S. Maple Realty Trust. Precision Digital Corp. will renovate and occupy 21,000 square feet of the property. Craig Johnston of R.W. Holmes procured and represented the buyer, while John Eysenbach, also of R.W. Holmes, represented the seller in the transaction.
PARSIPPANY, N.J. — Securitas Security Services USA has signed a new 15-year lease for 81,282 square feet of space at 9 Campus Drive within Mack-Cali Business Center in Parsippany. The company’s new location, which will serve as its North American headquarters and Eastern Operations Center, will house a data center and 24/7 call center and approximately 225 employees. With this lease, the four-story, 156,495-square-foot office building is now 89.2 percent leased. Joseph Messina, formerly of Savills Studley, along with Daniel Foley and Christopher Marx of Savills Studley, represented the tenant, while Diane Chayes and Brian Decillis provided in-house representation for Mack-Cali Realty Corp.
FRISCO, TEXAS — Paycor Inc. has signed a new, 11,878-square-foot lease at 3001 Dallas Pkwy in the Hall Office Park development in Frisco. Craig Wilson and Travis Boothe of DTZ, an international commercial real estate services firm, handled lease negotiations on behalf of Paycor.
TAMPA, FLA. — Feldman Equities LLC and Tower Realty Partners have reacquired an interest in Wells Fargo Center, a 22-story, 390,000-square-foot office tower located in downtown Tampa. The two firms purchased the equity position in a joint venture partnership with an institutional investor that purchased the building in 2014. Feldman Equities and Tower Realty originally acquired Wells Fargo Center at the end of 2012 in a joint venture partnership with another institutional investor. As part of the agreement, Tower Realty Partners will retain management responsibilities with Feldman Equities providing leasing oversight. Jeff Lanning and Brian Breeding of Cushman & Wakefield have been retained to represent the ownership group in leasing the building. Current tenants include Wells Fargo & Co., Phelps Dunbar and UBS.
MORRISVILLE, N.C. — TradeMark Properties has brokered the $16.5 million sale of the Concourse Building, a 131,553-square-foot office building located at One Copley Way in Morrisville, roughly 14 miles west of Raleigh. Fred Dickens of TradeMark represented the undisclosed seller in the off-market transaction. The buyer, Virginia Beach-based Continental Capital Partners, has retained TradeMark to lease the Class A property.
LOMBARD, ILL. — Bradford Allen has arranged the sale of a 52,564-square-foot office building in Lombard. The three-story property is located at 1910 S. Highland Ave. and is 37 percent leased. Ryan Moen of Bradford Allen represented the undisclosed buyer in the transaction. Bill Novelli and Derek Fohl of CBRE represented the seller, RBS Citizens Bank. Bradford Allen will serve as the leasing agent and property manager for the property.
ENGLEWOOD, COLO. – EN Engineering has expanded its footprint in Englewood. The pipelines, utilities and industrial industries consultant will increase its office space from 4,117 square feet to 10,436 square feet. The space is located at 9777 Pyramid Court. The building was constructed in 1995. EN Engineering was represented by Zach Williams of Cushman & Wakefield. Westcore Properties was represented by Keith Krombach and Nathan Johnson.