PHOENIX — The Leona Group has leased 15,054 square feet at Catalina Terraces in Phoenix. The Class A office building is located at 7878 North 16th Street. The Leona Group, which provides services to charter schools, will use the space for its corporate headquarters. It was represented by Justin Himelstein of Cassidy Turley. The landlord, Catalina Terraces Operating Associates, a company formed by Rosemont Realty, was represented by Phil Breidenback, Keith Lambeth, Lindsey Carlson and Ryan Timpani of Colliers International.
Office
FORT LAUDERDALE, FLA. — Brookwood Financial Partners LLC has acquired Comerica Tower, an 11-story office property in Fort Lauderdale’s central business district, for $32.5 million. Brookwood purchased the 166,098-square-foot asset from Beacon Investment Properties LLC. Comerica Tower was 82 percent occupied at the time of the sale. Christian Lee, Jose Lobon, Charles Foschini, Chris Apone, Deanna Lobinsky and Travis Herring of CBRE represented Beacon in the sale. Jonathan Kingsley of JLL also represented the seller in the transaction.
KNOXVILLE, TENN. — Knoxville-based Wood Properties has arranged a 30,000-square-foot lease at an office building south of downtown Knoxville. Brad Blackwell and George Brown of Wood Properties represented the landlord, Airport Office Partners, in the lease deal. The tenant, K12 Management Inc., will open a family support campus at the office building, which will bring roughly 300 jobs to the area.
SOUTHFIELD, MICH. — Bernard Financial Group has arranged a $2.2 million loan for the Vanguard Office Building in Southfield. The 115,000-square-foot office building is located at 23800 W. 10 Mile Road. Kevin Kovachevich of Bernard Financial originated the loan for the borrower, Vanguard Owner LLC. Bloomfield Capital Partners LLC is the lender.
MORRIS PLAINS, N.J. — Colliers International has arranged the sale of the 330,000-square-foot Morris Business Campus at 1000, 1100, and 1200 The American Road in Morris Plains for $6.85 million. The multi-tenant property was sold to local real estate investor and developer JMF Properties Group. The Morris Business Campus encompasses more than 28 acres of land and comprises three interconnected Class B office buildings that were renovated in 2001. The rear of the property features a walkway with direct access to the Morris Plains train station. The property is currently zoned as light industrial and is located two miles from Interstates 287 and 80, and is 45 minutes from New York City.
MAMARONECK, N.Y. — Rich Hendey and Steve McCulloch of Houlihan Parnes Realtors have placed a $1 million loan on 123-129 Halstead Avenue, an office and retail property located across the street from the train station in Mamaroneck. The non-recourse loan was done at par and has a fixed rate of 4 percent for a period of five years with a 30-year amortization schedule. The borrower has a five-year option to renew. The loan was placed with a regional bank and the borrowers were represented by John Nickelsberg of the law firm Rabine & Nickelsberg.
NATICK, MASS. — CBRE has arranged the $8.6 million sale of an office building located at 313 Speen St. in Natick. Chris Angelone, Steve Murphy, Bruce Lusa and John Meador of CBRE represented the seller, Gerrity Family Associates, and procured the buyer, 313 Speen LLC. The 59,453-square-foot office building was 70 percent leased at the time of sale. Approximately 20 miles west of Boston, the office building is located less than a mile off Interstate 90.
PLANO, TEXAS — Bright Realty has arranged a 26,988-square-foot office lease in Plano for banking services provider HP Locate LLC. The tenant will occupy an entire floor at the Lincoln Legacy One building, which is located at 6860 N. Dallas Parkway within the larger Legacy Town Center complex. Completed in 2006, Lincoln Legacy One totals 207,834 rentable square feet. Shawn Hall of Bright Realty represented HP Locate in the negotiations.
PHOENIX – A 58,120-square-foot building in Phoenix that is fully leased to Universal Technical Institute has sold to Hyperion Fund L.P. for $6.3 million. The Class B building is located at 2844 West Deer Valley Road and 2837 West Louise Drive in the Deer Valley submarket. The new owner plans to hold the property and maintain the current tenant, which provides technical training for auto mechanics, marine technicians and NASCAR techs. Hyperion was represented by Eric Wichterman and Mike Coove of Cassidy Turley. The seller was City Park, LLC, a company formed by Cutler Commercial.
MIAMI — CBRE has arranged a $47 million bridge loan to refinance Brickell City Tower, a Class A, 33-story office tower in Miami’s Brickell neighborhood. Charles Foschini, Christopher Apone and Christian Lee of CBRE arranged the loan through Ares of Chicago on behalf of the borrower, 80 SW 8th Street LLC, a joint venture between Banyan Street Capital, Independencia, Silverpeak Real Estate Partners and Crocker Partners. The purpose of the loan was to release value back to ownership following its recent sale of a portion of the site to ZOM, which plans to built a 46-story luxury high-rise apartment tower.