BEAVERCREEK, OHIO — Thorofare Capital has funded a $6.5 million floating rate commercial mortgage loan for the acquisition of the Apple Valley Office Campus, a 130,440-square-foot, three-building office campus in Beavercreek. The properties are located near the intersection of Research Boulevard and Grange Hall Road near Wright Patterson Air Force Base. The borrower is a partnership between two Southern California-based, privately held investment firms. The borrower purchased the portfolio in an off-market transaction. The non-recourse financing structure included an initial term of three years with extensions, and was sized to 70 percent of the total project capitalization. Apple Valley Office Center’s anchor tenants include Northrop Grumman Systems Corp., a global defense and technology company, and MacAulay-Brown, a Dayton-based engineering company. The campus includes more than 500 parking spaces and is accessible via Interstates 675, 75 and 70, as well as State Route 35.
PARAMUS, N.J. — Valley Hospital has signed a 10-year lease for 73,978 square feet of space at Mack-Cali Centre III in Paramus. Located at 140 East Ridgewood Ave., the property features two towers joined by a seven-story atrium, an on-site café with outdoor seating and advanced building systems. Robert Rudin of Cushman & Wakefield represented the tenant, while Chris DeLorenz of Mack-Cali represented the landlord. Additional terms of the transaction were not disclosed.
TROY, MICH. — Friedman Integrated Real Estate Solutions has arranged the lease of 9,234 square feet of office space in Troy. The International Academy of Design & Technology Detroit, a private college, will occupy space at the property within the Troy Officentre Building A located at 300 E Big Beaver Road. Glenn DesRosiers of Friedman represented the landlord, Osprey-Troy Officentre LLC.
DALLAS — Colliers International has acquired Conger and Sutherland Enterprises (CASE) Commercial Real Estate Partners. Dallas-based CASE was formed when Tom Sutherland and John Conger acquired GVA Cawley from Dallas real estate investor and developer Bill Cawley in April of 2008. Sutherland and Conger have grown the company to 50 employees, serving both tenants and investors, since the acquisition. Both firms are active in investment sales, but CASE caters more to private capital, according to Colliers’ regional manager David Pinsel. The deal takes Colliers from about 45 local brokers to about 80, with more than 180 total employees in Dallas and Fort Worth. CASE will be rebranded as Colliers International, and its Dallas team will move to Colliers’ Uptown office at 1717 McKinney Ave. in the coming months. Colliers International is a subsidiary of FirstService Corp., which generates about $2.7 billion in annual revenue and has more than 24,000 employees worldwide.
SAN DIEGO – Mission View Plaza, a 52,118-square-foot office building in San Diego, has sold to PWI CDRS LP for $8.1 million. The building is located at 3517 Camino Del Rio South. It was built in 1988. The LP was represented by Brian Jenkins and Mike Conger of ECP Commercial. The seller, Stephens Properties, was represented by Derek Hulse and Derek Applbaum of Colliers International.
SALT LAKE CITY – A 27,300-square-foot office building in Salt Lake City has sold to 210 FLT Realty for $4.7 million. The building is located within the Salt Lake City-Provo-Orem combined statistical area. It serves as the state headquarters for the Utah Division of Disability Determination Services (DDS). The transaction was executed by Brian Corriston and Steve Wolff of Stan Johnson Company.
THE WOODLANDS — Newcor Commercial Real Estate has relocated its headquarters to Grogan’s Mill in The Woodlands. Rob Banzhaf and Ryan Dierker of Newcor Commercial Real Estate represented the company in negotiating the lease of the 2,415-square-foot office space located in 10200 Grogans Mill Road. Michelle Ellis-Felder with Rosemont Realty represented the landlord, BIG Woodstead Grogan TIC LLC. The company’s previous headquarters was also located in The Woodlands.
RICHARDSON, TEXAS — KBS Strategic Opportunity REIT, a public, non-traded real estate investment trust based in Newport Beach, Calif., has signed two lease renewals at its Richardson Office Portfolio property totaling 22,511 square feet. Cheryl Mullin & Associates, a law firm, and National Write Your Congressman, an organization dedicated to facilitating communication between elected officials and their constituents, have both renewed their leases. Cheryl Mullin & Associates renewed a 9,340-square-foot lease, while National Write Your Congressman renewed a 13,171-square-foot lease. The buildings are located near the intersection of US-75 Central Expressway and the President George Bush Turnpike. Mark Jordan of Sooner National Property Management LP represented KBS Strategic Opportunity REIT in the transactions.
PITTSBURGH — HFF has arranged $28.8 million in financing for a two-property office and flex warehouse portfolio consisting of 21 buildings totaling 371,773 square feet in Pittsburgh. The borrower, Burns & Scalo Real Estate Services Inc., used the loan proceeds to purchase the assets from an undisclosed seller. Constructed between 1985 and 2006, the portfolio includes the 19-building, 87.6-percent leased Abele Business Park located at 2559 Washington Road and the two-building Cedar Ridge Business Park at 200 Cedar Ridge Dr. Mark Popovich and Nick Unkovic of HFF secured the loan through M&T Bank.
PHOENIX – Select Income REIT has purchased the Farmers Insurance Building, a 106,397-square-foot office building in Phoenix, for $16.8 million. The building is located at 16001 N. 28th Ave. in the Arizona Business Park. The property will be managed by Reit Management & Research LLC. The seller, Sabal Financial Group, was represented by CBRE’s Barry Gabel, Chris Marchildon, Ashley Brooks, Jim Bayless and Jenny Aust. Sabal purchased the property through its Granite Twenty Eighth Holdings entity.