Office

STREAM REALTY SECURES OFFICE LEASE RENEWAL

by admin August 2, 2012

DALLAS — Stream Realty Partners has arranged Hudson Advisors/Lone Star's 110,652-square-foot lease renewal at The Tower at Cityplace, a 1.22 million-square-foot office complex located at 2711 N. Haskell Ave. in Dallas. Jeff Schweitzer, Sarah Erickson and Tommy Nelson of Stream Realty Partners represented the landlord, Barrow Street Capital, in the lease transaction. Dan Paterson of Swearingen Realty Group represented the tenant. The Tower at Cityplace is currently 85.7 percent leased and features a conference center, Larry North Fitness, food court, cafeteria and DART rail access.

August 2, 2012

SANTA MONICA OFFICE BUILDING SELLS FOR $6.3M

by admin August 2, 2012

SANTA MONICA, CALIF. – A 14,860-square-foot office building in Santa Monica has sold to Sumo Properties, LLC for $6.3 million. The building is located at 1617 Broadway. It is currently 100 percent leased, with Innovative Artists acting as the main tenant. Sumo was represented by Dave Wilson and James Wilson of Lee & Associates West Los Angeles. The seller, SZS Crossroads Associates, was represented by Brad Kesner of Stone-Miller. Financing was arranged by Jeff Jacobsen of Broadway Capital Partners in Santa Monica.

August 2, 2012

Midwest Office

MSP DEVELOPMENT BUYS OFFICE PROPERTY IN WISCONSIN

by admin August 1, 2012

THIENSVILLE, WIS. — MSP Development has acquired an office building at 200 Green Bay Road in Thiensville from BMO Harris Bank for $275,000. Thiensville is a village 18 miles north of Milwaukee. Tom Shepherd and Lyle Landowski of Colliers International represented both parties in the transaction.

August 1, 2012

Northeast Office

MB1 ACQUIRES CEDAR KNOLLS CORPORATE CENTER

by admin August 1, 2012

CEDAR KNOLLS, N.J. — MB1 has acquired the 118,000-square-foot Cedar Knolls Corporate Center at 240 Cedar Knolls Road in Morris County. The four-story property is situated on 15 acres and includes an on-site cafe and 445 parking spaces. The building was constructed in 1981 and underwent renovations in 2007. Paul Giannone, Ken Flynn and Kevin Carton of Cushman & Wakefield will lease the property.

August 1, 2012

Northeast Office

REGUS OFFICE PROPERTY IN N.J. GETS UPGRADE

by admin August 1, 2012

PRINCETON, N.J. — River Drive Construction Co. has completed an office renovation for Regus, a provider of temporary office space for traveling business people, at the 149,000-square-foot Princeton Overlook I in Princeton. Regus occupies the second floor of the building, which is located at 100 Overlook Center. Mack-Cali is the property owner. The project included the creation of 16 new offices, as well as renovations to the business lounge, restrooms and video conference rooms. River Drive served as the general contractor and WKMC Architects was the project architect.

August 1, 2012

Office Western

SCOTTSDALE OFFICE BUILDING SELLS FOR $10M

by admin August 1, 2012

SCOTTSDALE, ARIZ. – A 44,088-square-foot office building in Scottsdale has sold to STORE Capital for $10 million. The building is located at 5656 E. Greenway Parkway. Stacie Harrison of NAI Horizon represented the buyer. The seller, Arizona Prep Real Estate, was represented by Scott Shelbourne with Cushman & Wakefield.

August 1, 2012

Office Southeast

JV COMPLETES $9M OFFICE BUILDING

by admin July 31, 2012

CORAL GABLES, FLA. — AJP Ventures has completed the $9 million, 58,000-square-foot The Building, a Class A office property located at 2990 Ponce de Leon Blvd. in Coral Gables. The Building is 65 percent pre-leased to tenants, which include Zubi Advertising and Mas Group. A joint venture between AJP Ventures, Juan Carlos of The Mas Group of Companies and TAZ Partners developed the property.

July 31, 2012

Office Southeast

APG BUYS ATL OFFICE BUILDING

by admin July 31, 2012

ATLANTA — Atlanta Property Group has purchased an 80,249-square-foot office building, located at 1190 W. Druid Hills Drive in Atlanta, from Duke Realty. The property is 78 percent leased. The buyer will invest $125,000 to renovate the building's common areas and attract new tenants.

July 31, 2012

Office Southeast

PCCP PROVIDES $30M OFFICE LOAN

by admin July 31, 2012

ATLANTA — PCCP has provided a $30 million senior loan to refinance a 272,650-square-foot office building, located at 5660 New Northside in Atlanta. The borrower was an equity consortium led by Banyan Street Capital.

July 31, 2012

Northeast Office

SAL CALCAGNO FAMILY TRUST SELLS OFFICE BUILDING FOR $7.5M

by admin July 31, 2012

STATEN ISLAND, N.Y. — The Sal Calcagno Family Trust has sold a 40,000-square-foot office building, located at 1535 Richmond Ave. in Staten Island, for $7.5 million. The property was originally leased on a triple-net basis to SI Bank & Trust, and was later acquired by Sovereign Bank. Brian Leary, David Muessel, Sean Kelly, Cengiz Sendogdular and Matthew Dzbanek of CPEX represented The Sal Calcagno Family Trust in the transaction. They also represented the buyer, a local developer.

July 31, 2012

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