Office

MTA Leases 46,000 SF at Heritage Landing in Quincy, Mass.

by Amy Works March 6, 2015

QUINCY, MASS. — Massachusetts Teachers Association (MTA) has signed a long-term lease for office space at Heritage Landing in Quincy. MTA will utilize the top two floors, totaling 46,000 square feet, as its new headquarters. The space is being designed to meet the needs of MTA. Project partners include Spagnolo Gisness & Associates Inc. and WB Engineers Consultants. MTA is slated to take occupancy of the space in November. Sean Lynch of JLL represented the tenant in the deal. Peter Brown of Campanelli along with Mike Frisoli, Matthew Morgan, Dave Martel and Molly Davis of Cushman & Wakefield represented the owner, Campanelli, in the transaction. Additional terms of the transaction were not released.

March 6, 2015

999 Corporate Boulevard Linthicum Maryland

Maryland Office Southeast

DTZ Brokers $6.5M Sale of Class A Office Building in Baltimore-Washington Corridor

by John Nelson March 6, 2015

LINTHICUM, MD. — DTZ has brokered the $6.5 million sale of a Class A office building located at 999 Corporate Blvd. within the Airport Square Business Park in Linthicum, a city in the Baltimore-Washington Corridor. Heritage Properties purchased the 67,384-square-foot property from LNR Partners LLC. Jonathan Carpenter, Nicole Keelty and Graham Savage of DTZ’s capital markets team in Baltimore represented LNR in the transaction.

March 6, 2015

California Office Western

Buchanan Street Buys University Tech Center in Pomona

by Nellie Day March 5, 2015

POMONA, CALIF. – Buchanan Street Partners has purchased University Tech Center, a 100,360-square-foot suburban office complex in Pomona, for an undisclosed sum. The building is located at 3179 and 3191 West Temple Ave. Buchanan plans to complete significant improvements to the property over the next year. The building is 91 percent leased, with the County of Los Angeles occupying one of the buildings. Buchanan represented itself, while the seller, Invesco, was represented by CBRE’s Kevin Shannon and Mike Kendall.

March 5, 2015

California Office Western

Menlo Equities Buys Office Building in Lake Forest

by Nellie Day March 5, 2015

LAKE FOREST, CALIF. – An affiliate of Menlo Equities LLC has purchased a 76,841-square-foot office building in Lake Forest for an undisclosed sum. The building is located at 26250 Enterprise. It is situated near the 241 toll road and Interstate 5 via Bake Parkway.. The building is 87 percent occupied by four tenants, with a majority of the space occupied by Panasonic Avionics Corporation. The seller, Bixby Land Company, was represented by Jeffrey Cole, Jeffrey Chiate, David Dowd and Ed Hernandez of Cushman & Wakefield’s Irvine office.

March 5, 2015

Office Texas

Buchanan Street Partners Purchases Office Building in Texas

by Haisten Willis March 5, 2015

DALLAS — Buchanan Street Partners has acquired Granite Tower, a 10-story, 240,000-square-foot office building located at 4055 Valley View Lane in Dallas. Buchanan Street acquired the property on behalf of an unnamed pension plan from a partnership between CREA Investments and Macfarlan Capital Partners. Granite Tower is currently 97 percent leased. The firm acquired Granite Tower with five-year, fixed-rate financing provided by a Midwestern-based life insurance company through HFF, who acted as the mortgage broker in the transaction. Dallas-based DTZ will continue to manage and lease the property.

March 5, 2015

California Office Western

Brookwood Receives $90M Loan to Acquire Office Portfolio in San Diego

by Nellie Day March 4, 2015

SAN DIEGO — Brookwood Financial Partners has received an $89.9-million loan to acquire a 484,573-square-foot office portfolio in San Diego. The portfolio contains three properties in seven Class A and B buildings. The Newport National Portfolio includes Civic View Corporate Centre at 300 Rancheros Blvd. in San Marcos; Ventana Real at 2173, 2175 and 2177 Salk Ave. in Carlsbad; and The Campus at 5962, 5964 and 5966 La Place Court, also in Carlsbad. Acquisition financing was arranged by CBRE’s Charles Foschini, Christian Lee and Christopher Apone. Blackstone provided the two-year, interest-only loan.

March 4, 2015

Arizona Office Western

Velocis Partners Buys Camelback Square in Scottsdale for $42.3M

by Nellie Day March 4, 2015

SCOTTSDALE, ARIZ. — Velocis Partners has purchased Camelback Square, a 174,917-square-foot office building in Scottsdale, for $42.3 million. The center is located at 6991 East Camelback Road. The three-story office building was 92 percent occupied at the time of sale. Notable tenants at the building include ZocDoc, Regus, Ashton Woods, Echo Global Logistics, Digital Airstrike and Mastro’s City Hall Steakhouse. The property is situated near Scottsdale Fashion Square and the Scottsdale Waterfront. This is Velocis’ first Phoenix-based acquisition. Velocis also received an acquisition loan totaling $26.5 million. The loan was arranged by Bruce Francis, Dana Summers, Bob Ybarra and Shaun Moothart of CBRE’s Capital Markets’ Debt and Structured Finance team. It was provided by JP Morgan Chase. CBRE’s Barry Gabel, Chris Marchildon, Kevin Shannon, Ken White and Paul Jones represented Velocis and the seller, a joint venture between Lincoln Property Company and Oaktree Capital, in this transaction.

March 4, 2015

California Office Western

Occupational Therapy Training Program Renews at Harbor Gateway Garden Office Park

by Nellie Day March 3, 2015

TORRANCE, CALIF. – Occupational Therapy Training Program (OTTP) has signed a five-year lease renewal at Harbor Gateway Garden Office Park in Torrance. The 94,112-square-foot, nine-building office property is located at 19401 S. Vermont. The lease is valued at $1.5 million. The non-profit agency that offers comprehensive life skills training, work readiness training, job placement and support services is a division of Special Service for Groups. OTTP was represented by Chris Runyen of Charles Dunn Company. The landlord, Harbor Gateway, LLC, was represented by Dwight Everest of Sunny Hills–Palladium.

March 3, 2015

California Office Western

Meridian Property Company Purchases Medical Office Building in Berkeley

by Nellie Day March 3, 2015

BERKELEY, CALIF. – Meridian Property Company has acquired a 15,915-square-foot medical office building in Berkeley for an undisclosed sum. The building is located at 2920 Telegraph Ave. It was built in 1971 and was vacant at the time of sale. Meridian plans to invest $2.6 million into the building. The company also plans to reduce the building’s footprint to 12,900 square feet. It will use that space to create internal, secure parking behind the ground floor, which will meet the conditional use permit requirement and allow medical use at this location. The renovation is scheduled this fall. The seller was Gambro. Dave McCarty of Lee & Associates of Oakland serves as the building’s exclusive leasing agent.

March 3, 2015

Arizona Office Western

Saint Xavier University Opens Recruitment Center in Gilbert

by Nellie Day March 3, 2015

GILBERT, ARIZ. – Saint Xavier University opened a new recruiting center in Gilbert. The center is located at 119 North Gilbert Road. It will allow the university to attract future students to its new Gilbert campus, which will open this fall. The building is still under construction, though students have begun online classes through the new university outpost.

March 3, 2015

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