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.
DULUTH, GA. — Crossley, Jernigan & Ellison Inc. has acquired two office/flex buildings located at 2425 and 2450 Commerce Ave. in Duluth for $4.05 million. The buildings are part of the Satellite Place office complex and include the 1000 and 2100 buildings, which total 113,035 square feet. Watson Bryant and Gary Lee of Cassidy Turley represented the seller, an entity controlled by special servicer CWCapital Asset Management, in the transaction. The buyer was self-represented.
SAN DIEGO — A 26,676-square-foot, single-tenant office buildingin San Diego has sold to NBTK Holdings LP for $6,012,325. It is located at 1843 Hotel Circle South. The building is fully leased by TASC, a defense contractor. Chuck Wasker and Mark McEwen of Colliers International represented both the buyer and the seller, Marcopoulos Venture Fund III. Mike Paeske of CFI and Jeff Ryan of Ryan Real Estate Advisory assisted in this transaction.
WILMINGTON, N.C. — Grandbridge Real Estate Capital has secured $6.5 million in first mortgage financing for two office buildings located on the Miller-Motte College campus in Wilmington. The buildings total 80,595 square feet, and include classrooms, laboratories, a library, student lounge and offices. Robert Hukill of Grandbridge arranged the 12-year, fully amortized loan through Coastal Federal Credit Union.
