DENVER — Laramie Energy Company has subleased 19,592 square feet of office space in downtown Denver. The space is located at the former offices of Pioneer Natural Resources Company in the Lower Downtown (LoDo) district. The address is 1401 17th St. Laramie Energy has outgrown its space at nearby Writer Square. CBRE’s Greg Holm represented the natural gas exploration and production company.
HAMILTON, N.J. — Colliers International has arranged the sale of a property located at 1670 White Horse-Mercerville Road in Hamilton to Babe Ruth League Inc., a non-profit educational, baseball organization. The stand-alone property features 8,500 square feet of office space, including a showroom of Babe Ruth memorabilia, and a 1,500-square-foot warehouse. The national organization plans to relocate its headquarters to the property from its former location at 1770 Brunswick Pike in Lawrence, N.J. Vinny Di Meglio and Thomas Romano of Colliers represented Babe Ruth League in the $712,000 transaction. The seller was Hamilton Park Associates LP.
GRAND RAPIDS, MICH. — NAI Wisinski of West Michigan has brokered the sale of a former urgent care facility, located at 5378 Plainfield Ave. in Grand Rapids. Dr. Russ Curtis acquired the 5,000-square-foot facility from Spectrum Health for an undisclosed price. A portion of the facility has been renovated to serve as Northview Eye Care, while the remainder is available for lease. Doug Taatjes and Hillary Taatjes-Woznick represented the seller and buyer in the transaction.
TAMPA, FLA. — CBRE has arranged the $111 million sale of a portfolio of five Class A office properties within Highland Oaks office park in Tampa. The properties total 575,852 square feet and include Highland Oaks I, Highland Oaks II, Highland Oaks III, Highland Oaks IV and Highland Oaks V. Located off of I-75 one exit south of the I-4 interchange, Highland Oaks comprises eight office buildings totaling 1 million square feet and a 150-room Hilton Garden Inn hotel. The other three office properties in Highland Oaks are owned by J.P. Morgan Chase. Originally developed by Duke Realty between 1999 and 2008, the portfolio was 96 percent leased at the time of sale to 46 tenants, including Cognizant, McDonald’s, Mosaic, ConAgra, J.M. Smucker Co., First American Title and John Deere. Dale Peterson, Christian Lee, Amy Julian, Charles Foschini, Jose Lobon and Chris Apone of CBRE represented the undisclosed seller in the transaction. The buyer was undisclosed, but industry sources are saying Prudential Real Estate Investors acquired the portfolio.
WASHINGTON, D.C. — HFF has arranged a $66.8 million acquisition loan for 11 Dupont Circle, a 155,713-square-foot office building located in Washington, D.C.’s Dupont Circle neighborhood. Sue Carras and Dan McIntyre of HFF led the debt placement team in securing the 15-year, fixed-rate loan on behalf of the borrower, First Potomac Realty Trust. The loan was placed through an insurance company advised by an affiliate of Walton Street Real Estate Debt in conjunction with KeyBank Real Estate Capital. Renovated in 2004, 11 Dupont Circle was 96 percent leased at the time of financing.
HOUSTON — Equus Capital Partners Ltd., on behalf of Equus Investment Partnership IX LP, has acquired the Comerica Bank Building, a 193,988-square-foot office building located in Houston. The 11-story building was 89 percent occupied at the time of sale, and is situated on 4.5 acres along the north side of U.S. 59 at One Sugar Creek Blvd. The building’s amenities include surface parking and an attached four-level parking garage, an on-site deli and a full-service banking facility. Jared Chua and Bernard Branca of CBRE represented the undisclosed seller in the transaction.
PHOENIX — Granite Investment Group has purchased a 104,016-square-foot office tower in Phoenix for $9.8 million. The 14-story property is located at 2828 N. Central Ave. It recently underwent a renovation. The building is currently 53 percent occupied. DTZ’s Bob Buckley, Tracy Cartledge, Steve Lindley, Ben Geelan, Mark Stratz and Scott Baumgarten represented the seller, Ironline.
DURHAM, N.C. — Grubb Properties, in partnership with an affiliate of Blue Vista Real Estate Partners IV, has purchased two mid-rise office buildings in Durham for a combined $6.6 million. The companies plan to renovate and reposition the buildings, including new lobbies and bathrooms, resurfaced parking and extensive landscaping. The buildings are located at 2222 and 2224 N.C. 54 and total 147,471 square feet. The properties are situated on 16 acres off I-40 and directly adjacent to the Research Triangle Park.
DALLAS — Holliday Fenoglio Fowler (HFF) has secured $190 million in financing for Fountain Place, a 1.2 million-square-foot office tower located in Dallas. John Brownlee, Steve Heldenfels and Jim Curtin of HFF worked on behalf of the borrower, Goddard Investment Group, to secure the financing through AIG Investments. The $190 million loan was broken into two components: a $100 million, initial seven-year, fixed-rate loan; and a $90 million floating-rate loan. Proceeds are being used to take out the existing financing and fund tenant improvements and leasing commissions, as well as capital expenditures for the construction of a new parking garage and interior renovations.
PLANO, TEXAS — MYCON General Contractors has been awarded a $3.1 million construction contract to build Star Medical Center Office Building, a 30,160-square-foot, two-story medical office building located at 4100 Mapleshade Lane in Plano. The owner and developer is Star Medical Center LLC. The project architect is Bryant Burton Kupcunas Architects Inc. Star Medical Center is an acute-care hospital located immediately adjacent to the new medical office construction. A groundbreaking ceremony is scheduled for Friday, Sept. 4, and MYCON plans to complete construction by the end of the year.
