SAN ANTONIO — HFF has secured acquisition financing for Network Crossing, a five-building, 143,831-square-foot office property located at 5252 Prue Road in San Antonio. The property is 89 percent leased. Mona Carlton and Robert Wooten of HFF arranged the 10-year loan through Northwestern Mutual on behalf of the borrower, Live Oak-Gottesman Co.
TUCSON, ARIZ. – The former Pella Corporation building in Tucson has sold to BH Pella Drive, LLC for $5.2 million. The buyer is an affiliate of BH Properties. The 260,000-square-foot manufacturing and warehouse facility, also known as the Aero Business Park, is located at 6700 South Pella Drive. BH Properties was represented by Steve Cohen and Russell Hall of Picor Commercial Real Estate Services. The seller, Pella Corporation, was represented by Chuck Pawlak of Binswanger.
LIVERMORE, CALIF. – Tech Park at North Canyons, a two-building, 145,220-square-foot office/R&D property in Livermore, has sold to an unnamed buyer for an undisclosed sum. The Class A property is located at 455 and 477 North Canyons Parkway. It is 65 percent occupied. Notable tenants include Nissan, Kraft and Caltrans. The seller, Prime Finance Partners, is represented by HFF’s Steven Golubchik and Mark Damiani.
TUSTIN, CALIF. – An 18,120-square-foot office building in Tustin has sold to Americana Project One, LLC, for $2.44 million. The vacant building is located at 111 Fashion Lane. Chuck Wilson and Blake Garrett of Colliers International represented both the buyer and the seller, Chu Family Trust, in this transaction.
UNION, N.J. — Marcus & Millichap has arranged the $3.4 million sale of two adjacent office buildings in Union. The buildings, located at 2810-2816 Morris Ave., are 97 percent occupied. Nat Gambuzza and Matt Radwan of Marcus & Millichap represented the seller, a local investor. They also secured the buyer, also a local investor.
CONROE — Levey Group will begin constructing a 14,000-square-foot office/warehouse facility in Conroe. The design/build project will house Oklahoma City, Okla.-based Kimray's Distributor division. Construction is slated to begin in January 2013.
TUSTIN, CALIF. – An 18,120-square-foot office building in Tustin has sold to Americana Project One, LLC, for $2.44 million. The vacant building is located at 111 Fashion Lane. Chuck Wilson and Blake Garrett of Colliers International represented both the buyer and the seller, Chu Family Trust, in this transaction.
CHICAGO — The City of Chicago has approved the construction of 625 West Adams St., a 20-story Class A office building in Chicago's West Loop. A partnership between The Alter Group and White Oak Realty Partners will develop the 490,000-square-foot building. 625 West Adams St. will be the first office building constructed in downtown Chicago in two years. The project will be located on the site of a current parking lot at the corner of Adams and Des Plaines streets. The building will include a parking garage, conference center and fitness center. Solomon Cordwell Buenz & Associates have designed the building.
NEW YORK CITY — American Realty Capital New York Recovery REIT has agreed to buy the fee simple interest in a 149,000-square-foot office building in Midtown Manhattan. The building at 229 West 36th St. traded for $65 million. The property is fully leased and tenants include American Language Communication Center Inc. and Early Bird Delivery Systems LLC. The property is the second office building American Realty has placed under contract in the Garment District in the last two weeks. The company previously announced it would acquire 256 West 38th St. for $48.6 million.
ROSEVILLE, CALIF. — Sutter Health has signed a 10-year lease for 295,000 square feet of office space in Roseville where the healthcare operator plans to open an administrative service center. Additional services, such as finance, billing, human resources and other non-patient care functions, will also operate out of the new service center, which is located at 9100 Foothills Blvd. Sutter Health’s system offices will remain in Sacramento. The company was represented by Ron Thomas, Kevin Partington, Bruce Hohenhaus and Chris Schwarze of Cushman & Wakefield. The landlord, Quality Investment Properties, was represented by Dennis Shorrock and Bruce Wirt of Cornish & Carey Commercial Newmark Grubb Knight Frank.
