PORTLAND, ORE. — Block 300, a 362,000-square-foot office building in Portland, has received a $60.8-million bridge loan. The Class A building is located at 333 South West 1st Ave. in the Downtown area. The building was 50 percent leased when the funds were committed. It is now 75 percent leased. Dan Rosenberg of Cohen Financial secured the financing for Kaufman Jacobs. It was provided by GE Capital Real Estate. “The bridge financing allows us to recapitalize the property and puts us in a strong position to execute improvements and to re-tenant the property,” says Robert Saunders, Kaufman Jacobs’ CFO.
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WASHINGTON, D.C. — Rock Creek Property Group, a Washington, D.C.-based real estate investment company, has sold a three-story, 43,000-square-foot office building in Washington, D.C., for approximately $14.9 million. Lakritz Adler Real Estate Investments purchased the asset, located at 5185 MacArthur Blvd. N.W. Tenants at the property include Starbucks Coffee and UPS.
NEW HAVEN, CONN. — The New Haven Register has leased 18,000 square feet at 100 Gando Dr. in New Haven. The New Haven Register will occupy two floors of the building, which is known as the Star Supply Building. The new space will house a modern workspace and offer on-site parking for the company’s 160 employees. Praxis Commercial, along with Tim Fegan and David Hansen of CBRE, brokered the transaction for the New Haven Register.
HOUSTON — Rosemont Realty has secured a lease expansion and extension for Inspectorate America Corp.’s headquarters. The company’s corporate headquarters office has been located at 12000 Aerospace Ave. in Houston since August 2004. The new lease is for 30,236 square feet, an increase of 8,387 square feet. Rosemont Realty’s Carrie Powledge represented property owner Rosemont Realty in the transaction. John Parsley and Don Schmidt with Colliers International represented Inspectorate America in the lease expansion.
LOS ANGELES – Deloitte has leased 113,000 square feet at the Gas Company Tower in Downtown Los Angeles. The tower is located at 555 West Fifth Street. It is about 80 percent occupied. The professional services organization will have its logo prominently displayed at the top of the building. Tenant improvements are underway, and Deloitte is scheduled to take occupancy by the end of the year. Deloitte was represented by Lexis Livengood of DTZ. The landlord, Brookfield Office Properties, was represented in-house.
SAN FRANCISCO – NerdWallet has signed a seven-year lease for 45,739 square feet of office space at 901 Market in San Francisco. The 212,319-square-foot historic building sits adjacent to the Westfield San Francisco Shopping Centre and Union Square BART entrance. The consumer-focused financial start-up will occupy its new space in the fourth quarter of this year. The landlord is Hudson Pacific Properties.
WASHINGTON, D.C. — The Greysteel Co. has arranged the sale of a government-leased, five-floor office building on Embassy Row in Washington, D.C. The Embassy of the Republic of Georgia has leased the asset, located at 2209 Massachusetts Ave. N.W., since 2007. Ari Firoozabadi, Gil Neuman, Kyle Tangney, John Mullen, Henry Schuldinger and Caleb Brown of Greysteel represented the seller, Delshah Capital, in the transaction. The buyer, RezRoss Investment Group LLC, purchased the building for an undisclosed price.
BURLINGTON, VT. — Nedde Real Estate has brokered the lease of 40 Sears Lane in Burlington. Champlain College has leased the 25,405-square-foot building for an undisclosed price. The tenant plans to use the building for campus-wide physical plant maintenance. Doug Nedde of Nedde Real Estate represented the landlord, RFC Realty LLC, in the transaction.
MOUNTAIN VIEW, CALIF. — Rockwood Capital has acquired a five-building office campus near downtown Mountain View for a reported $154 million. The 17-acre Mountain View Corporate Center campus is located at 301-381 E. Evelyn Ave. It is one of only a few large-scale office campuses in Silicon Valley where employees can walk or bike to Caltrain and nearby retail amenities. The campus was previously occupied by Hewlett-Packard Co., though it is now home to multiple tenants like Mozilla and Coursera. Like many other Silicon Valley tech campuses, Mountain View Corporate Center provides outdoor amenities like volleyball and basketball courts, along with easy access to nearby trails such as Stevens Creek. Rockwood plans to enhance the property over time. This wouldn’t be the first time the firm has employed this strategy in Silicon Valley. It has a history of acquiring, repositioning and developing transit-oriented office properties in this area. Rockwood transformed the former Mayfield Mall into a 520,000-square-foot office property. It also took 690 E. Middlefield Road and turned it into a 340,000-square-foot, build-to-suit development for Synopsys’ global headquarters, among other transactions. Mountain View Corporate Center’s seller, a global investment manager, was represented by Greg Cioth, Andy Zighelboim, Edmund Najera, Nate …
SAN FRANCISCO – A 128,678-square-foot office building at 3175 Hanover Street in San Francisco has received $86.5 million in acquisition financing. The single-tenant building is located within the Stanford Research Park, which is home to companies like VMware and Hewlett-Packard. The 700-acre Stanford Research Park includes 10 million square feet throughout 160 buildings and facilities. It contains more than 23,000 employees at 150 companies, including Tesla, which uses the park for its headquarters and research facility. The park was originally developed by the adjacent Stanford University in 1951. The building is fully leased to global law firm Cooley LLP. It was acquired by a Sand Hill Property Company joint venture. The non-recourse financing was arranged by John Nelson of CBRE's San Francisco office. It was provided by a Wall Street lender.