SAN FRANCISCO — CIM Group has acquired the office building that resides at 330 Townsend in San Francisco’s South of Market (SOMA) district. The purchase price was not disclosed. The building is situated near the CalTrain San Francisco Station and the new Central Corridor transit line, which is currently under construction. It is currently 98 percent leased to a variety of creative and professional services firms.
SAN JOSE, CALIF. — Nimble Storage has signed an eight-year lease for a 165,000-square-foot Silicon Valley office campus. The lease is valued at more than $31 million. The newly redesigned, three-building complex is located at River Oaks Parkway and Zanker Road in San Jose. Nimble Storage was represented by Steve Lico and David Tipton of Cresa Partners. The landlord, Bixby Land Company, was represented by Steve Horton, Kelly Yoder and Erik Hallgrimson of Cassidy Turley.
CHARLESTON, S.C. — Bridgeview Properties has acquired an office portfolio of three properties at 4275 Bridgeview Drive, 4355 Bridgeview Drive and 4340 Corporate Road in Charleston, for $8 million. Built in the late 1980s, the properties total more than 112,000 square feet. Two tenants, Serco and NCO, occupy 60 percent of the space. The buyer plans to completely gut and upgrade the interior of 4340 Corporate Road. R. Milton Thomas of Lee & Associates represented the buyer and seller, the Estate of Morton Needle, in the transaction.
SAN JOSE, CALIF. — Nimble Storage has signed an eight-year lease for a 165,000-square-foot Silicon Valley office campus. The lease is valued at more than $31 million. The newly redesigned, three-building complex is located at River Oaks Parkway and Zanker Road in San Jose. Nimble Storage was represented by Steve Lico and David Tipton of Cresa Partners. The landlord, Bixby Land Company, was represented by Steve Horton, Kelly Yoder and Erik Hallgrimson of Cassidy Turley.
CLEVELAND, OHIO — KeyCorp has signed a 15-year lease extension for 487,000 square feet at Key Tower in Cleveland. The new lease begins July 1, 2015, and extends through June 2030. Columbia Property Trust has owned the 57-story Class-A office tower since December 2005. The 1.3 million-square-foot property has served as the headquarters of KeyCorp., the holding company for KeyBank, since the tower’s construction in 1991.
NEW YORK CITY — Risk Placement Services Inc., a national wholesale insurance brokerage, has signed a 4,366-square-foot lease at 100 Wall St., occupying a portion of the fifth floor for a seven-year term. Scott Cahaly and Mitchell Konsker of Jones Lang LaSalle represented the landlord, Savanna, in the transaction. Alex Jinishian of Colliers International represented the tenant.
HOUSTON — Fredricks Commercial, a Houston-based commercial real estate firm, has merged with Moody Rambin Interests, a Houston-based commercial real estate brokerage and management firm. Brent Fredricks, a 27-year veteran of shopping center and investment brokerage, has joined Moody Rambin as senior vice president.
SAN FRANCISCO – A 353,269-square-foot, Class A office building in San Francisco has received $81 million in financing. The building is located at 475 Sansome Street in the city’s North Financial District. It is 90 percent leased to tenants including Oracle, Amazon.com, Bank of the West and Yahoo! The 10-year, fixed-rate loan was arranged for Multi-Employer Property Trust (MEPT) by HFF’s Bruce Ganong, Cary Abod and Chris Gandy.It was provided by Prudential Mortgage Capital Company. Bentall Kennedy served as MEPT’s real estate advisor.
SAN JOSE, CALIF. – Ebay’s four-building, 250,000-square-foot office campus in San Jose has received a $50-million refinance. The campus is located within the Golden Triangle. The refinance will allow the borrower to secure a 10-year, fixed-rate mortgage at a competitive interest rate, as well as pay off its existing maturing debt. The loan request also featured a 1st Trust Deed and mezzanine financing components. It was placed by Alex Chenarides and John Souza of Barry Slatt Mortgage’s Los Angeles office. Financing was arranged through one of the company’s correspondent CMBS relationships. It will be serviced by Barry Slatt.
LAKE WORTH, FLA. — Wells Fargo has sold a three-property office portfolio, totaling 198,000 square feet, in Florida for $12.55 million. The properties include the 92,000-square-foot Wellington Commons in Lake Worth, the 60,427-square-foot Vista Park Commons in West Palm Beach and the 46,000-square-foot Stuart Commons in Stuart. Developed by Crexent Business Centers in 2007, the properties include state-of-the-art telecommunications, meeting/conference rooms, personal mail delivery and a private gym. Douglas Mandel of Marcus & Millichap represented the seller in the transaction. Mandel and Benjamin Silver, also of Marcus & Millichap, represented the buyer.