Office

PRUDENTIAL MORTGAGE CAPITAL PROVIDES $300M LOAN FOR CHICAGO OFFICE TOWER

by admin March 7, 2013

CHICAGO — Prudential Mortgage Capital Co. has provided a $300 million loan for 155 North Wacker, a 1.15 million-square-foot office tower located in the Chicago West Loop submarket. The 10-year, fixed-rate loan refinances the property for the borrower, which developed the tower in 2009. Located on the northeast corner of Wacker Drive and Randolph Street, the property is 94.6 percent leased and is within walking distance of major public transportation lines. The 46-story, Class A building is LEED-Gold certified and features a glass lobby, state-of-the-art technology including high-speed “smart” elevators, floor-to-ceiling windows, and conference and fitness centers.

March 7, 2013

STREAM REALTY SECURES OFFICE LEASE IN SAN ANTONIO

by admin March 7, 2013

SAN ANTONIO — Stream Realty Partners has arranged a 10,504-square-foot office lease at One Castle Hills, a 157,521-square-foot office property located in San Antonio's North Central submarket. Following this lease, One Castle Hills is 79 percent leased. Ryan Harrison of Stream Realty represented the landlord in the lease transaction. Ben Crawford of Jones Lang LaSalle represented the tenant, Webster University. Webster is a Tier 1, private, nonprofit university with more than 100 campuses across the country. Stream Realty also provides on-site property management for the facility.

March 7, 2013

Midwest Office

AUCTION TO BE HELD FOR FORMER PEREGRINE FINANCIAL HEADQUARTERS BUILDING

by admin March 6, 2013

CEDAR FALLS, IOWA — GA Keen Realty Advisors, a division of Great American Group Inc., is marketing a 48,250-square-foot office building in Cedar Falls. The property and facilities are being sold as part of a Federal Receiver’s sale, with GA Keen Realty Advisors working with the court appointed receiver, Chicago-based attorney Michael Eidelman, in marketing the building and property. The bid deadline is Friday, May 24 with an auction scheduled for Friday, May 31. Built in 2008, the building design features minimal emissions, water use, waste and indoor pollutants. Located on a 22-acre site at 1 Peregrine Way, the property is designated as a Class A professional office building and includes 108 exterior parking stalls and 43 underground parking spaces. The building is the former headquarters of Peregrine Financial Group owned by Russell Wasendorf Sr., which filed for bankruptcy in July 2012.

March 6, 2013

Northeast Office

LIBERTY MUTUAL INSURANCE SIGNS 130,000 SF LEASE IN NYC

by admin March 6, 2013

NEW YORK CITY —Liberty Mutual Insurance has signed a 130,000-square-foot lease at 55 Water St. in New York City for 10 years. The 3.8 million-square-foot office building stands 54 stories tall and is the second largest privately owned office building in New York City. Liberty Mutual’s new lease doubles its space and spans two floors. Mary Ann Tighe, Brad Gerla, Howard Fiddle and Evan Haskel of CBRE represented the owner, New Water Street Corp., in the deal. Cresa represented Liberty Mutual.

March 6, 2013

Northeast Office

RICHARDS BARRY JOYCE & PARTNERS ARRANGES FIVE LEASES AT WALTHAM WOODS

by admin March 6, 2013

BOSTON — Richards Barry Joyce & Partners has brokered several leases on behalf of Clarion Partners at Waltham Woods Corporate Center, located at 880 and 890 Winter St. in Boston. The leases total more than 55,000 square feet of space and were signed with Fieldwork Boston, Global Advanced Metals, NKT Therapeutics Inc., Windjammer Capital Investors and WinterWyman. Jon Varholak and Ron Friedman of Richards Barry Joyce & Partners represented Clarion Partners in the transactions.

March 6, 2013

Office Texas

UCR ARRANGES SALE OF CENTRAL PARK SHOPPING CENTER

by admin March 6, 2013

IRVING, TEXAS — UCR Investment Sales has brokered the sale of the 106,647-square-foot Central Park Shopping Center, a grocery-anchored development located at 1706 W. Irving Blvd. in Irving. Terry's Supermarket anchors the shopping center, which includes other tenants such as Auto Zone, Rent-A-Center, Family Dollar, H&R Block, Super Wash & Dry and Metro PCS. The shopping center is 86.5 percent leased. Tommy Tucker of UCR Investment Sales represented the out-of-state seller and procured the buyer, an investment group formed by Steve Gregory, Derek Ferem and the J. Evans Family Partnership.

March 6, 2013

Office Southeast

OWNERS TO TRANSFORM LARGE BLOCK OF OFFICE SPACE IN DORAL

by admin March 5, 2013

DORAL, FLA. — The 9250 Doral office building, currently the largest single block of available space in the Doral area, will undergo a multi-million renovation. Amadeus North America moved out of the property one year ago, leaving the 187,000-square-foot property fully vacant. Delma Properties, the building owner, plans to reposition the building into a multi-tenant office property. Delma is spending $1.5 million to refurbish the lobby and other common areas, which is expected to be complete by the end of this month. Exterior work includes upgrades to the entry fountain, pedestrian bridge, facade and parking for a total investment of more than $7 million. The property is located on Doral's main east-west throughway at 9250 N.W. 36th St.

March 5, 2013

Office Southeast

CONSTRUCTION BEGINS ON TRACTOR SUPPLY CO. HEADQUARTERS

by admin March 5, 2013

BRENTWOOD, TENN. — Brasfield & Gorrie has started construction on Tractor Supply Co.'s new headquarters in Brentwood. The project will include two, four-story office buildings totaling 260,000 square feet and a 324,000-square-foot parking deck. The office buildings will be connected by a central two-story atrium. Hastings Architecture Associates designed the project, which is seeking LEED certification. The project is expected to be complete in the third quarter of 2014.

March 5, 2013

Northeast Office

TGM ASSOCIATES RENEWS 11,280 SF LEASE AT 650 FIFTH AVE.

by admin March 5, 2013

NEW YORK CITY — TGM Associates, an investment advisory firm focusing on multifamily properties, has renewed its 11,280-square-foot lease at 650 Fifth Ave. near Rockefeller Center for 10 more years. TGM will occupy the entire 28th floor of the 36-story office building in the Plaza District on 52nd Street. Built in 1979 and previously known as the Piaget Building, 650 Fifth Ave. is a 382,500-square-foot tower owned by 650 Fifth Avenue Co.

March 5, 2013

Northeast Office

FOX ROTHSCHILD EXPANDS, RENEWS 11-YEAR LEASE FOR 20,184 SF IN WILMINGTON

by admin March 4, 2013

WILMINGTON, DEL. — Law firm Fox Rothschild LLP has signed an 11-year lease for 20,184 square feet on the second and third floors at Citizens Bank Center, an 18-story office building, in Wilmington. The building, which is located at 919 N. Market St., is a Class A office property that spans 221,686 square feet. A tenant of the building for 15 years, Fox Rothschild had previously occupied approximately 17,000 square feet on two non-contiguous floors. With the new lease, the firm will have contiguous space on two floors with an interconnecting staircase, as well as a private lobby and elevator off the building’s main lobby on the first floor. Doug Simon of Newmark Grubb Knight Frank represented Fox Rothschild in the deal. Keystone Property Group is the owner of the building.

March 4, 2013

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