PHOENIX — Pinnacle Peak Commerceplex I, a 302,254-square-foot warehouse/distribution property in Phoenix, has received $17.1 million in first-mortgage refinancing. Financing was based on a 10-year term and a 27-year amortization schedule. It was arranged by James DuMars and Michael Elmore of NorthMarq Capital through the firm’s relationship with a correspondent life company lender.
Office
COLUMBIA MD. — The Universities Space Research Association, a nonprofit organization charged with advancing space science and technology, has acquired an office building in Columbia to expand its national headquarters. The 90,000-square-foot building, which is almost double the size of its current, leased headquarters, is located at 7178 Columbia Gateway Drive. The seller was South Norwalk, Conn.-based Greenfield Partners. Rich Rhodes, Dan Shapiro and Megan Hixon of Cresa Washington DC represented the buyer in the transaction. Cresa’s Project Management Services division will manage the building’s interior build-out.
ST. LOUIS — Cassidy Turley has opened a new 13,000-square-foot office in downtown St. Louis. Currently, the commercial real estate services firm has seven offices located throughout St. Louis and St. Charles County. The recently renovated office building, located at 600 Washington Ave., will expand the company’s physical presence within the city. The new office will accommodate 30 employees.
SAN ANTONIO — Global web infrastructure and cloud-hosting provider PEER 1 Hosting has signed a 10-year lease for 25,000 square feet in San Antonio’s Pearl neighborhood. The impending move to the new space will more than quadruple PEER 1’s space and provide employees easy access to Pearl’s restaurants, parks and entertainment. PEER 1, which is headquartered in Vancouver, B.C., specializes in managed hosting, dedicated hosting and collocation and has about 540 employees worldwide.
TEMPE, ARIZ. — Broadway 101, a 162,484-square-foot office campus in Tempe, has sold to GLL Real Estate Partnersfor an undisclosed sum. The Class A campus is located at 2141 and 2151 E. Broadway Road.It is 94 percent leased to tenants like MOOG/Broad Reach Engineering, Amerifirst Financial, Inc. and the Arizona corporate headquarters for Quantum Integrated Solutions.The seller, Broadway 101 Office Park,was represented by Dennis Desmond, Brian Ackermanand Dave Seegerof Jones Lang LaSalle’s Capital Markets’ team. Seeger has been the campus’ exclusive leasing broker since 2000. He is actively marketing the property’s remaining vacancies.
LAS VEGAS — McCarran Corporate Plaza, an 87,018-square-foot office property in Las Vegas, has sold to TNP Acquisitions, LLC for $10.2 million. The property is located at 5740 and 5820 S. Eastern Ave. near McCarran International Airport and the I-215 Beltway. The two office buildings were 68 percent leased at the time of sale. Notable tenants include Carrington College, United Healthcare Services and AARP. The buyer plans to hold the property as an investment.TNP was represented by Commerce TNP, LLC. The seller, P-38 Properties, LLC, was represented by Chuck Witters and Kris Watier of Lee & Associates’ Las Vegas office.
CASTLE HILLS, TEXAS — Spencer Enterprises Ltd. has awarded Stream Realty Partners the leasing assignment for a 28,360-square-foot office property in Castle Hills, a suburb of San Antonio. The property is located at 1919 N.W. Loop 410. Carolyn Hinchey Shaw will serve as the leasing agent for the property. The office property has undergone upgrades recently, including enhanced landscaping and updated building entrances.
TEMPE, ARIZ. — Broadway 101, a 162,484-square-foot office campus in Tempe, has sold to GLL Real Estate Partnersfor an undisclosed sum. The Class A campus is located at 2141 and 2151 E. Broadway Road.It is 94 percent leased to tenants like MOOG/Broad Reach Engineering, Amerifirst Financial, Inc. and the Arizona corporate headquarters for Quantum Integrated Solutions.The seller, Broadway 101 Office Park,was represented by Dennis Desmond, Brian Ackerman and Dave Seeger of Jones Lang LaSalle’s Capital Markets’ team. Seeger has been the campus’ exclusive leasing broker since 2000. He is actively marketing the property’s remaining vacancies.
LAS VEGAS — McCarran Corporate Plaza, an 87,018-square-foot office property in Las Vegas, has sold to TNP Acquisitions, LLC for $10.2 million. The property is located at 5740 and 5820 S. Eastern Ave. near McCarran International Airport and the I-215 Beltway. The two office buildings were 68 percent leased at the time of sale. Notable tenants include Carrington College, United Healthcare Services and AARP. The buyer plans to hold the property as an investment. TNP was represented by Commerce TNP, LLC. The seller, P-38 Properties, LLC, was represented by Chuck Witters and Kris Watier of Lee & Associates’ Las Vegas office.
PLANTATION, FLA. — Grandbridge Real Estate Capital has arranged a $9 million first mortgage for 1250 Pine Island, a 52,424-square-foot, Class A office building located in Plantation. The loan, which was provided by a regional bank, carries a fixed interest rate and a 25-year amortization. Philip Carroll and Michael Balan of Grandbridge’s Miami office originated the financing on behalf of the undisclosed borrower.