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.
GREENVILLE, S.C. — HFF has arranged $29.5 million in refinancing for a 12-building office portfolio totaling 569,841 square feet, located in Greenville. The properties are part of the Park East and Park Central office parks. Wally Reid and Chip Sykes of HFF secured the four-year, fixed-rate loan through a private investor.
OVERLAND PARK, KAN. — Block Development Co. has broken ground on the Teva Pharmaceuticals office building at 11100 Nall Ave. in Overland Park. The 150,000-square-foot facility will include workspace for 350 employees. The site also includes space for an additional 100,000-square-foot building. Sprint sold the 18-acre parcel to Block Development Co., which broke it into three parcels. Teva is taking two of them. The building is set for completion in the third quarter of 2013.
NAPERVILLE, ILL. — Cohen Financial has arranged a $10 million loan to refinance the MetroWest office building at 55 Shuman Blvd. in Naperville. Dan Rosenberg of Cohen Financial's Chicago office secured the financing through a regional bank. The borrower is a joint venture between Chicago-based Bixby Capital and Franklin Partners.
BOSTON — Colliers International has arranged a $30 million loan to refinance 600 Washington St., also known as the Washington-Essex Building, in Boston. The 251,520-square-foot building was originally built in 1904 and renovated in 1997. The Commonwealth of Massachusetts is the anchor tenant. John Broderick of Colliers International secured the 10-year, fixed-rate loan on behalf of the borrower, Northland Investment Corp. Sun Life Insurance Co. financed the transaction.
SAN DIEGO — Affiliates of Greenlaw Partners and Walton Street Capital have purchased the 198,000-square-foot South Bay Corporate Center in the San Diego submarket of National City. The office building is located at 401 Mile of Cars Way. Tony Russell of Jones Lang LaSalle and Phil Linton of Cassidy Turley represented both the buyer and the seller in this transaction.
ATLANTA — Parkway Properties has sold 100 Ashford Center and Peachtree Ridge, two office properties totaling 321,000 square feet in Atlanta, for $29.9 million. Combined, the assets are 74.6 percent leased. The properties were part of the company's first discretionary fund, and with the close of this sale, the company has shed all assets that were part of this fund. The buyer assumed a $29.7 million mortgage.
MIAMI — New Boston Fund has purchased the 91,000-square-foot Waterford Centre, a Class A office building located in the Blue Lagoon Business Park at 6205 Blue Lagoon Drive in Miami. The buyer plans to invest significant capital in upgrading the building's appearance and building systems. Lincoln Property Co. represented both parties in the transaction and will continue to provide property management services. Blanca Commercial Real Estate will lease and market the property.
NEW ALBANY, OHIO —Construction is under way on a new $31 million headquarters for Bob Evans Farms in New Albany. Bob Evans Farms owns and operates 569 full-service restaurants in 18 states with a heavy concentration in the Midwest. The company plans to move its corporate headquarters from Columbus to New Albany. The Corna Kokosing Construction Co. is building the project, which it describes as a mix of traditional and futuristic design. The campus will be situated on 40 acres of farmland. The project is expected to be complete in the fall of 2013.
IRVING — Houston-based Boxer Property has acquired the 208,450-square-foot One Panorama, an eight-story office property located at 7701 Las Colinas Ridge in Irving. The property is currently 91 percent leased. Mike Hardage and Steve Simon of Transwestern represented the seller, Prudential Real Estate Investors, in the transaction. Boxer Property was self-represented.