DALLAS — NorthMarq Capital has arranged the refinancing of the 301,378-square-foot Graystone Centre, an office building located at 3010 LBJ Freeway in Dallas. Paul Brighton of NorthMarq Capital arranged the five-year loan with a 25-year amortization schedule on behalf of the borrower, Younan Properties.
MILWAUKEE — The Wisconsin Department of Corrections has signed a lease for 24,000 square feet of office space in the Mill Run Business Center at 6649 W. Mill Road in Milwaukee. Jim Larkin of Colliers International represented both parties in the transaction.
WETHERSFIELD, CONN. — JMM Properties has purchased a 90,000-square-foot office building at 1290 Silas Deane Highway in Wethersfield for $2 million. The building was fully vacant and will be renovated by the new owner. Upgrades will include a new roof, HVAC system, windows and common areas. Jay Morris and Robert Gaucher of O,R&L Commercial represented both the buyer and seller, 1290 Realty, in the transaction. O,R&L has also been hired to lease the property.
GRAND PRAIRIE — Colliers International North Texas has brokered the sale of the six-story, 98,928-square-foot National Health Building, located at 1901 N. State Highway 360 in Grand Prairie. Tenants of the property include the National Transportation Security Administration, National Health Corp. and FYI Television. Creighton Stark and Ben Lurie of Colliers International represented the seller, AIC Ventures, in the transaction. The buyer was Capital Commercial Investments.
SAN FRANCISCO — The Piers, an 82,834-square-foot office and restaurant space in San Francisco, has received $32 million in first-mortgage refinancing. The complex is locatedon Piers 1 ½ , 3 and 5. Notable tenants include Bloomberg and La Marrestaurant. The permanent seven-year loan will replace the construction financing on this waterfront property. Financing was arranged for San Francisco Waterfront PartnersbyDennis Williamsof NorthMarq’s San Francisco regional officethrough the firm’s relationship with a life insurance company.
PLAINFIELD, ILL. — Irgens has completed a $6.3 million medical office building at the northeast corner of Route 59 and Dayfield Drive in Plainfield. The build-to-suit project is fully leased by Edward Health Ventures and will provide primary care services from Edward Medical Group physicians. The 22,000-square-foot facility will offer walk-in/urgent care, physical and occupational therapy and other services. The project team also includes Eckenhoff Saunders Architects and Peak Construction, the general contractor.
GOLDEN VALLEY, MINNETONKA AND BROOKLYN PARK, MINN. — Grandbridge Real Estate Capital has arranged a $7 million loan for the refinancing of a four-building office portfolio in Golden Valley, Minnetonka and Brooklyn Park. StanCorp Mortgage Investors provided the 10-year loan, which includes a 20-year amortization schedule and a fixed interest rate of approximately 4 percent. Tony Carlson of Grandbridge originated the loan.
WOODLAND HILLS, CALIF. — Warner Center Towers, a 1.9-million-square-foot office campus in the Los Angeles submarket of Woodland Hills, has received a new loan for $285 million. Half of the loan was provided to Douglas Emmett by Northwestern Mutual Life Insurance Company, while the other half was supplied by Prudential Mortgage Capital Company. This is a new seven-year, fixed-rate loan. Warner Center consists of five office towers, along with a gym and a restaurant that are all situated on 21.1 acres. This is the largest office complex in the San Fernando Valley.
COLUMBIA, MD. —The Howard Hughes Corporation has acquired the 169,700-square-foot 70 Corporate Center, a Class A office building located at the intersection of Broken Land Parkway and Little Patuxent Parkway in downtown Columbia. Tenants include the American Medical Director's Association, BB&T and Association Consulting Group.
AUSTIN — MFPB Ed Bluestein LLC, comprised of several real estate investors, has sold a large portion of a 935,255-square-foot, nine-building campus, located at 3501 Ed Bluestein Blvd. in southeast Austin. The seller, Freescale Semiconductor, once housed the facility. Helen Jobes of Kennedy Wilson represented the buyer in the transaction. Royce Lacey and Alan Lacey of NAI REOC Austin represented the seller. The buyer plans to spend capital to upgrade the decades-old facility.