Office

HFF Brokers $63.5M Sale of, Arranges Financing for Downtown Bethesda Office Building

by John Nelson June 5, 2015

BETHESDA, MD. — HFF has brokered the $63.5 million sale of Bethesda Office Center, a 174,449-square-foot, Class A office building located at 4520 East-West Highway in downtown Bethesda. The office property is located at the intersection of East-West Highway and Waverly Street, one block from the Bethesda Metrorail Station. Jim Meisel, Dek Potts, Andrew Weir, Stephen Conley, Matthew Nicholson and Robert Jenkins of HFF represented the seller, AEW Capital Management LLC, in the transaction. HFF also arranged acquisition financing on behalf of the undisclosed buyer. Cary Abod and Robert Carey of HFF arranged the fixed-rate loan through JP Morgan Chase Bank, NA.

June 5, 2015

Office South Carolina Southeast

RealOp Investments, Terra Capital Buy Office Portfolio in Greenville

by John Nelson June 5, 2015

GREENVILLE, S.C. — RealOp Investments and Terra Capital Partners have partnered to acquire and manage an office portfolio in Greenville totaling 570,000 square feet. The properties in the portfolio include two office parks totaling 12 buildings. Park East comprises nine multi-tenant office assets, and Park Central contains three buildings. RealOp, along with leasing and management partner NAI Earle Furman, will update, rebrand and reposition the office properties in the portfolio, and Terra Capital Partners will provide financing.

June 5, 2015

Market Reports Office Texas Texas Market Reports

Las Colinas, Far North Dallas And Richardson/Plano Stand Out in Hot Market

by Haisten Willis June 5, 2015

Dallas/Fort Worth has experienced unprecedented growth over the past few years, and we have all the fundamentals in place to continue this growth. Since 2005, we have added more than 600,000 jobs to the region. That’s a whopping increase of 21 percent! The current outlook is for growth to continue at these levels. In fact, by 2030 population in our region is expected to hit 9 million, an increase of 2.1 million new residents. From a real estate perspective, these fundamentals will fuel demand across all property types for the foreseeable future. More importantly, DFW has evolved into one of the most balanced economies in the U.S. and has created the “perfect storm” for our continued, steady growth. In addition to our central location, key drivers include our diverse employment base, deep roots in technology, low cost of doing business, pro-growth philosophy and affordable housing. For a comparison to the rest of the country, office absorption in Dallas has paced ahead of most U.S. markets in the last few years. In the first quarter of 2015, Dallas made up almost 30 percent of the national net absorption among the 50 largest U.S. markets JLL tracks. While a large proportion of …

June 5, 2015

Georgia Office Southeast

NorthMarq Capital Arranges Loan for Office Building in Atlanta

by John Nelson June 4, 2015

ATLANTA — NorthMarq Capital has arranged permanent debt financing for Intellicenter, a 150,000-square-foot, LEED Silver-certified office property located at 2531 Sever Road in Atlanta. Warren Hitchcock of NorthMarq’s Houston office arranged the 12-year loan with a 30-year amortization schedule through an undisclosed life insurance company on behalf of the borrower, Susquehanna Holdings Ltd. The office building was fully leased at the time of the loan transaction.

June 4, 2015

New Jersey Northeast Office

The S.Hekemian Group Breaks Ground on 46,000 SF Office Building in New Jersey

by Amy Works June 4, 2015

ENGLEWOOD, N.J. — The S.Hekemian Group has broken ground for construction of Englewood South Phase 4 (ES4), a Class A office building located at 10 Sterling Blvd. in Englewood. The 46,000-square-foot office building, which will feature ground-floor retail space, is slated for completion in first quarter 2016. ES4 will feature strong exterior architecture with classic masonry and refined finishes throughout the interior. Tenant spaces will feature oversized ceiling heights and loft-like, open-plan build-outs with exposed ceilings and ductwork. Brian Silbert and Wayne Kasbar of Silbert Realty & Management are the exclusive leasing agents for the property.

June 4, 2015

Massachusetts Northeast Office

Clarion Partners Acquires 100 Franklin Street in Boston

by Amy Works June 4, 2015

BOSTON — Clarion Partners, on behalf of a separately managed account client, has acquired 100 Franklin Street in Boston’s financial district for an undisclosed sum. The nine-story Beaux Arts-style building features 124,055 square feet of office space. Originally built in 1908, the property underwent a major renovation in 1998. At the time of sale, the property was 93 percent occupied by a variety of tenants in the financial services, legal services and technology industries. Additionally, the building features 10,000 square feet of ground-floor retail space. The name of the seller was not released.

June 4, 2015

Arizona Office Western

Scottsdale Office Portfolio Sells for $10.5M

by Nellie Day June 4, 2015

SCOTTSDALE, ARIZ. – A 63,763-square-foot office flex portfolio in Scottsdale has sold to Crown West Realty and Development for $10.5 million. The three-building complex is located at 9171 E. Bell Road, 9181 E. Bell Road and 16611 N. 91st Street, within the McDowell Mountain Business Park. Crown West represented itself in the sale. Michelle Gardner of Shell Commercial will continue to act as the property’s leasing agent. The seller was not named.

June 4, 2015

Office Texas

Cousins Properties Arranges Lease Renewal in Houston

by Haisten Willis June 3, 2015

HOUSTON — Cousins Properties Inc. has arranged a lease renewal with Transocean Ltd. for 255,413 square feet at Greenway Plaza in Houston. Transocean, the fourth largest customer in Cousins’ Houston portfolio, currently occupies 4 Greenway Plaza in its entirety. The 255,413-square-foot transaction renews 100 percent of the company’s current space and extends their expiration from January 2017 to January 2023. Greenway Plaza is a 4.5 million-square-foot Class A office complex located in the Greenway submarket of Houston. With the Transocean renewal, leasing at Greenway Plaza now stands at 90 percent. Bob Boykin, Warren Savery, Bubba Harkins and Will Hightower represented Cousins in the transaction.

June 3, 2015

Arizona Office Western

Griffin Capital Buys Phoenix Office Building, Data Center for $91.5M

by Nellie Day June 3, 2015

PHOENIX – Griffin Capital Corporation has purchased a 513,361-square-foot office building and data center complex in Phoenix for $91.5 million. The complex is located at 3151 and 3202 West Behrend Drive. The property is fully occupied by American Express Travel Related Services Company. The company is a subsidiary of American Express. American Realty Advisors was represented by CBRE’s Jim Fijan and Chad Freese.

June 3, 2015

New Jersey Northeast Office

Cushman & Wakefield Brokers Acquisition of Two-Building Office Complex in New Jersey

by Amy Works June 2, 2015

PARSIPPANY, N.J. — Cushman & Wakefield has brokered the acquisition of a two-building office complex located at 1140 and 1160 Parsippany Blvd. in Parsippany. Micro Strategies Inc. purchased the property, which totals 46,000 square feet, from Hampshire Cos. for an undisclosed price. The Morris County, N.J.-based buyer plans to relocate its headquarters from Denville and Rockaway, N.J., to the newly acquired office complex. Slava Vaynberg, Marc Trevisan and David Sherman of Cushman & Wakefield arranged the off-market transaction.

June 2, 2015

Newer Posts

Older Posts