ROCK HILL, S.C. — Angelic Real Estate and Red Rock Development have closed the sale-leaseback financing of a 105,000-square-foot headquarters and lab building in Rock Hill, part of the greater Charlotte, N.C., area. The financing amount was roughly $24.4 million. Red Rock developed the property on behalf of the tenant, Physicians Choice Laboratory Services (PCLS). The facility serves as PCLS' headquarters and primary testing facility. BlackArch Partners also provided financial advisory services to PCLS in the transaction. Red Rock Development and Angelic Real Estate have a strategic partnership for the financing and capitalization of commercial properties.
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CHARLOTTE, N.C. — NorthMarq Capital has arranged approximately $2.9 million to refinance Mallard Professional Center, a 31,500-square-foot office building in Charlotte. Kevin Jenkins of NorthMarq's Charlotte office arranged the five-year loan with a 20-year amortization schedule through an unnamed credit union.
ROSEMONT, ILL. — Bradford Allen Realty Services has arranged the lease of an 8,807-square-foot office space in Rosemont. VHT Inc., a full service provider of visual marketing services designed for the real estate industry, will occupy space at 6400 Shafer Court. The firm is relocating from its offices also located in Rosemont. Joel Berger and C.J. Ricardi of Bradford Allen Realty Services represented VHT. Zachary Fox of Transwestern represented the landlord, Crossroads Development, in the transaction.
PORTLAND, ORE. – A pair of Class A office buildings in Portland has sold to joint venture Woodside Palisades Partners for an undisclosed sum. The buildings, Cascade Station I and II, are located in the Cascade Station mixed-use development. They contain a total of 127,000 square feet. Woodside Palisades Partners is a joint venture between Joaquin Charles de Monet of Palisades Capital Realty Advisors and two Silicon Valley investors. The unnamed sellers were represented by CBRE’s Kevin Shannon.
SEATTLE – The University District Building, a 79,513-square-foot office building in Seattle, has received a $9-million refinance. The building is occupied by the University of Washington. It is located at 1107 NE 45th Street in the U District. The 10-year loan features a 25-year amortization schedule and a sub-5 percent interest rate. It was secured by Ken Griggs and Paddy Ryan of NBS Financial Services. The pair also collaborated with Mike Wood. NBS represented the lender, Riversource Investments, in this transaction.
DETROIT — Bernard Financial Group has arranged a $24.5 million, non-recourse CMBS loan to refinance a 23-story office building in Detroit. The building is located at 1001 Woodward Ave. The property has attached parking and ground-floor retail containing 298,517 square feet of net rentable area and 729 parking spaces. Dennis Bernard and Kevin Kovachevich of Bernard Financial Group originated the loan on behalf of the borrower, 1001 Webward LLC. The CMBS lender is a servicing correspondent of Bernard Financial Group. Bedrock Real Estate Services operates the office building.
HOUSTON — Tanglewood Property Group (TPG) has acquired a 101,000-square-foot office building in Houston’s Beltway 8 Corporate Center business park. The property, located at 5300 W. Sam Houston Parkway North, was fully leased at the time of the sale. Henry Hagendorf of TPG and Tom Lynch of CBRE represented TPG in the acquisition.
GLENDALE, ARIZ. — California Casualty Insurance Co. has renewed its lease for 27,750 square feet at Talavi Corporate Center in Glendale. The center is located at 5651 W. Talavi Blvd. The insurance company renewed for another six years. It has resided at the center since 2004. California Casualty was represented by Craig Coppola and Andrew Cheney of Lee & Associates Arizona. The landlord, Regent Properties, was represented by CBRE’s Ashley Brooks, Jr. Regent acquired the property from CW Capital Asset Management during the lease negotiation.
CHICAGO — MB Real Estate has brokered the sale of two floors of office space spanning 20,315 square feet at the 55 W. Wacker building in Chicago. The 15-story, 209,000-square-foot tower is located at 55 W. Upper Wacker Drive. The Taipei Economic and Cultural Office in Chicago (TECO-Chicago) will occupy space on the 12th and 13th floors of the building. The TECO-Chicago office serves Taiwanese citizens in the Midwest as well as the interests of the Republic of China (Taiwan). TECO-Chicago will relocate from its current offices in Chicago this spring.The Class B building was built in 1968. The property is leased and managed by MB Real Estate. Kevin Purcell, Mark Buth and Walter Hennig of MB Real Estate represented building ownership in the transaction. Lisa Davidson and James Stein of Studley Inc. represented TECO-Chicago.
NEW YORK CITY — White & Case LLP, a global law firm with operations in 26 countries, plans to relocate but will remain on Sixth Avenue. The firm has signed a 440,000-square-foot long-term lease at 1221 Avenue of the Americas, which is owned by The Rockefeller Group. The leased space includes the top floors in the building, as well as below-grade space. The firm will move to the 2.5 million-square-foot property in 2017. The tenant was represented by Ken Siegel, Tom Doughty and Lisa Kiell of Jones Lang LaSalle. The Rockefeller Group was represented by an in-house team led by Ed Guiltinan, along with a Cushman & Wakefield brokerage team led by John Cefaly. The lease brings total new leasing activity at 1221 Avenue of the Americas to more than 700,000 square feet over the past 18 months.