PEWAUKEE, WIS. — MTM Paul Court has purchased the Paul Court Office building in Pewaukee for $1.5 million. The 10,430-square-foot property is located at N97W24075 Paul Court. Joe Lak of Colliers International represented the buyer in the transaction. Mike Kleber of Zilber Property Group represented the seller, JML Holdings.
NASHVILLE, TENN. — Richmond, Va.-based Lingerfelt Cos. has acquired the Nashville Airport North Portfolio, a five-building, Class A office portfolio in Nashville, from Highwoods Properties for $41 million. The properties, which total 484,047 square feet, are located in BNA Corporate Center, Lakeview Ridge Office Park and Century City Office Park. The portfolio is 86 percent leased.
RALEIGH, N.C. — First Fidelity Mortgage Corp. has arranged $41 million in senior secured financing for the 371,000-square-foot Bank of America Plaza, an office building located in downtown Raleigh. Kell Martin and Richard Booth of First Fidelity arranged the seven-year loan through a major life insurance company on behalf of the borrower, an affiliate of The Simpson Organization of Atlanta. The proceeds were used to repay existing maturing debt and fund ongoing capital spending programs.
FOREST PARK, ILL. — GENCON Building Corp. has completed a 4,500-square-foot office expansion for Duraco, located at 7400 Industrial Drive in Forest Park. Duraco, which manufactures and distributes adhesive products, now occupies a total of 12,500 square feet of office space. Philip Prince & Associates of Wheaton, Ill., provided architectural services for the project.
IRVING — Mesa West Capital has provided $50 million in acquisition financing for the 618,555-square-foot Regent Commons, a Class A office campus located in Irving. Steve Fried of Mesa West Capital originated the financing on behalf of the borrower, Brookfield Asset Management.
CHANDLER, ARIZ. — QBE First, part of QBE Insurance Group Limited, has signed an 11-year lease for 183,000 square feet of call center space in Chandler. The space is located at 2700 Corporate Center. The company will move into the facility in the fourth quarter of 2012. QBE was represented by Greg Bast and Wally Hale of Jones Lang LaSalle. The landlord, Regent Properties, was represented by Bill Blake and Colton Trauter of Lee & Associates.
PHILADELPHIA — Cozen O'Conner, one of the nation's largest law firms, is moving its Philadelphia offices to One Liberty Place, where the firm will occupy nine floors. Cozen O'Conner signed a 17-year lease for 200,000 square feet on floors 21 through 28, as well as part of the 7th floor of the building. The firm's current headquarters is located at 1900 Market St. Cozen O'Conner expects to move into the new space by 2015. Peter Soens and Michael Kennedy of SSH Real Estate represented Cozen O'Conner in the transaction. Metropolis Investment Holdings is the landlord.
HOUSTON — HFF has brokered the sale of the 94,166-square-foot 1900 Yorktown, a six-story office building located in Houston's Galleria area. The buyer, Houston-based The Finger Companies, plans to demolish the property and develop a Class A, mid-rise multifamily property in its place. Dan Miller, Davis Adams and Marty Hogan of HFF represented the seller, a national specialty finance company, in the transaction.
NEWPORT BEACH, CALIF. — An 18,066-square-foot office building in Newport Beach has sold to Bristol Street Partners for $4.2 million. The building is located at 2350 SE Bristol Street. It is fully occupied by Walldesign. Bristol Street was represented by Jim Schoolfield and Taylor Wood of Cresa Partners in Newport Beach. The seller, Ru Investments, was represented by Tony Gleason of Voit Real Estate Services’ Irvine office.
EL CAJON, CALIF. — Mossy Automotive Group has purchased an 18,800-square-foot showroom/office building in El Cajon for $2.5 million. The property is situated on 3.7 acres at 266-300 El Cajon Blvd. Mossy also recently leased two other contiguous lots at 230 and 260 El Cajon Blvd. and 342-360 El Cajon Blvd. The lots total 80,586 square feet and now house a VW dealership. Mossy was represented by Kerry Schimpf and Cameron Czubernat of Cassidy Turley San Diego in all three transactions. The lessors, Debbie Huntamer, Albert Erigat and Victoria Erigat, were represented by Mark Robak of Trinity Commercial.