Office

Amata Office Solutions Completes Renovation of Shared Office Center in Chicago’s East Loop

by Amy Works July 1, 2015

CHICAGO — Chicago-based Amata Office Solutions has completed the renovation of its shared office/co-working center at 150 N. Michigan Ave. in Chicago’s East Loop. The renovation included the upgrades of 55 private offices and the reconfiguration of common areas to offer a greater variety of workspaces catering to the increasingly mobile workforce. The renovated center features modern lounges with breakout rooms, micro offices for short-term use and a separate workroom with unassigned seating for persons participating in Amata’s co-working program, which offers 24/7 access to all common areas and amenity spaces.

July 1, 2015

201 17th Street Atlantic Station Midtown Atlanta

Georgia Office Southeast

CBRE Global Investors Fund Sells Atlantic Station Office Building in Midtown Atlanta

by John Nelson July 1, 2015

ATLANTA — CBRE Strategic Partners U.S. Value 6, a fund sponsored by CBRE Global Investors, has sold a 17-story office building located at 201 17th St. in Atlantic Station, a mixed-use district in Midtown Atlanta. Since acquiring the property in 2012, the fund has increased the building’s occupancy from 48 percent to 91 percent. Technology companies migrating to Midtown Atlanta comprise the majority of the newly added tenants at the office tower, according to CBRE. In December, Worldpay US, an online card processing services firm based in London, leased six floors at 201 17th St. for its U.S. headquarters.

July 1, 2015

Loans New Jersey Northeast Office

HFF Secures $18.5M in Refinancing for New Jersey Office Building

by Amy Works June 30, 2015

ISELIN, N.J. — HFF has secured $18.5 million in refinancing for Centra, an office building located at 100 Wood Ave. in Iselin. On behalf of The Hampshire Companies, HFF placed the loan with M&T Bank to take out the property’s construction loan, which HFF also placed in November 2010 for the redevelopment of the property. The four-story 110,700-square-foot property is 95 percent leased to a variety of tenants, including JP Morgan Chase, MetLife, Grant Thornton and Net App. Michael Klein and Jon Mikula of HFF represented the borrower in the transaction.

June 30, 2015

Office Texas

National Asset Services Arranges Sale of Houston Office Building

by Haisten Willis June 30, 2015

HOUSTON — National Asset Services (NAS) has arranged the sale of 602 Sawyer St. on behalf of 22 tenant-in-common co-owners. The property, an 85,923-square-foot, seven-story office building, is located in the Midtown submarket of Houston. The tenant-in-common investors purchased the property in 2008. Originally built in 1982, the office property underwent renovations in 1999. NAS represented the tenant-in-common group during the negotiations that resulted in the sale for an undisclosed amount to Houston-based Griffin Partners, who represented themselves in the transaction. NAS assumed asset management responsibility of the property in February 2013 and oversaw several property improvement projects including a remodeling project of the corridors, elevator cabs and restrooms. Prior to the sale, NAS renewed the lease of one of the property’s major tenants, the Houston Police Officer’s Pension System, for a 12,670-square-foot space. At the time of sale, the property was 92 percent leased.

June 30, 2015

Michigan Midwest Office

Oxford Cos. Acquires 704,000 SF McMullen Properties Office Portfolio in Ann Arbor

by Amy Works June 30, 2015

ANN ARBOR, MICH. — Oxford Cos. has acquired McMullen Properties, a 704,000-square-foot portfolio of office properties located on the south side of Ann Arbor, from a local undisclosed seller. Valued at more than $100 million, the portfolio includes 22 buildings in three separate business parks: Atrium Office Center, Eisenhower Commerce Center and Valley Ranch Business Park. At the time of sale, the portfolio was 98 percent occupied by a variety of tenants, including University of Michigan, St. Joe’s, Nexient and Google. Additional terms of the transaction were not released.

June 30, 2015

Loans Midwest Missouri Office

NorthMarq Capital Secures $10.5M Loan for St. Louis Office Building

by Amy Works June 30, 2015

ST. LOUIS — NorthMarq Capital has secured $10.5 million for the refinancing of Center 40 Office Building in St. Louis. Located at 1600 Brentwood Blvd., the property offers 105,750 square feet of office space. Jeffrey Chaney of NorthMarq’s St. Louis office arranged the loan, which features a 15-year fixed rate on a 25-year amortization schedule, through NorthMarq’s correspondent relationship with a life insurance company.

June 30, 2015

California Office Western

Equus Capital Partners Buys Santa Clara Office, R&D Building

by Nellie Day June 30, 2015

SANTA CLARA, CALIF. – Equus Capital Partners has acquired an 80,878-square-foot office/R&D building in Santa Clara for an undisclosed sum. The building is located at 3003 Bunker Hill Lane. It was built in 1980. The fully leased property was renovated in 2014. Jasper Technologies occupies 90 percent of the space. The acquisition was made on behalf of BPG Investment Partnership IX L.P., a discretionary fund managed by Equus. The sellers were TMG Partners and Alcion Ventures.

June 30, 2015

New Jersey Northeast Office

Mack-Cali Realty Sells 203,506 SF Office Property for $81.4M in New Jersey

by Amy Works June 29, 2015

PARSIPPANY, N.J. — Mack-Cali Realty Corp. has completed the disposition of its commercial office property located at 14 Sylvan Way within Mack-Cali Business Campus in Parsippany. Griffin Capital Essential Asset REIT II Inc. purchased the 203,506-square-foot property for $81.4 million. In addition to the sales price, Griffin is assuming responsibility for approximately $2 million in future tenant improvement allowance. Developed in 2013, the three-story property is fully leased to Wyndham. Jose Cruz and Kevin O’Hearn of HFF represented Mack-Cali in the transaction.

June 29, 2015

Michigan Midwest Office

Joint Venture Acquires Two Iconic Detroit Office Buildings for $12.2M

by Amy Works June 29, 2015

DETROIT — HFZ Capital has partnered with Southfield, Mich.-based REDICO to acquire the 28-story Fisher Building and the 11-story Albert Kahn Building in Detroit for $12.2 million. The partnership plans to redevelop the properties into a mixed-use office, retail and residential complex, while maintaining the asset’s 2,000-seat Fisher Theatre. Albert Kahn designed both properties. Adam Feldman provided in-house representation for HFZ Group in the transaction. The name of the seller was not released.

June 29, 2015

Michigan Midwest Office

Friedman Brokers 9,550 SF Office Lease in Detroit

by Amy Works June 29, 2015

DETROIT — Friedman Integrated Real Estate Solutions has brokered the lease of 9,550 square feet of office space in Detroit. Creative Breakthroughs, an IT advisory and network security services firm, will occupy the space, which is located at 1260 Library St. Steven Eisenshtadt and Josh Miller of Friedman represented the landlord, Cork Tusk Development, in the transaction.

June 29, 2015

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