Office

TWO-BUILDING, 299,005 SF LEGACY OFFICE PARK SELLS

by admin September 2, 2011

DALLAS — Dallas-based L&B Realty Advisors, a pension fund advisor, has purchased Legacy Place I and II, a two-building, 299,005-square-foot office property in Legacy Business Park at the corner of Dallas North Tollway and Tennyson Parkway in Dallas. The Class A office property received capital improvements in 2009 and is currently 100 percent leased. John Alvarado, Jack Crews, Evan Stone and Lauren Zimmer of Jones Lang LaSalle worked on behalf of the seller, JP Morgan Asset Management in the transaction.

September 2, 2011

HFF SECURES $19.5M REFINANCING FOR MCALLISTER PLAZA

by admin September 2, 2011

SAN ANTONIO — Holliday Fenoglio Fowler (HFF) has secured $19.5 million in refinancing for McAllister Plaza, a 12-story, 190,079-square-foot office property in San Antonio. HFF's Adam Herrin and Trey Morsbach arranged the 3-year, adjustable rate bridge loan on behalf of RBL Real Estate, owners of the plaza, a life insurance company. The proceeds from the loan are recapitalizing the plaza's existing debt as well as funding tenant improvement costs.

September 2, 2011

Midwest Office

BRADFORD ALLEN ARRANGES LEASE FOR STONE CREEK PROPERTIES

by admin September 1, 2011

BOLINGBROOK, ILL. — Chicago-based Bradford Allen has arranged a 51,650-square-foot lease renewal with LexisNexis in Creekside Corporate Center, located at 480 Quadrangle Dr. in Bolingbrook. Joel Berger and Ryan Moan of Bradford Allen represented the landlord, Stone Creek Properties, in the lease transaction. Jeff Samaras of Cushman & Wakefield's Downtown Chicago office represented the tenant.

September 1, 2011

Northeast Office

HERALD SQUARE DEVELOPMENT PROPERTY SELLS FOR $71.9M

by admin September 1, 2011

NEW YORK CITY — A development property at 1205-1225 Broadway in New York City’s Herald Square was sold for $71.9 million. The three-story office building at 1205-1213 Broadway is approximately 33,189 square feet with a potential maximum square footage of 111,750 square feet. The nine-story office building at 1215-1225 Broadway is approximately 138,250 square feet with a potential maximum square footage of 138,250 square feet. The buildings are currently 25 percent leased with all the remaining leases expiring within 2 years. Massey Knakal’s Robert Knakal, John Ciraulo, Craig Waggner and Jonathan Hageman represented the seller, while Daniel Rahmani and Ebi Khalili of Venture Capital Properties represented the buyer.

September 1, 2011

Northeast Office

ARAGON CONSTRUCTION COMPLETES 28,000 SF BUILD OUT

by admin September 1, 2011

NEW YORK CITY — Aragon Construction has completed a 28,000-square-foot interior build-out for Quinlan Financial Group at Rubie Corporate Plaza, a four-story, 124,000-square-foot office building in Melville, Long Island in New York City. The project takes up the entire second floor of the Class A office building. The build out includes approximately 50 offices, six conference rooms, training rooms and an interior open work area. Renovations include new veneers and accents in the upholstery and wall coverings, and the new space now has DIRTT office fronts, Shaw carpeting and Waldner’s office furniture. Macro Consultants served as the project manager for the build out and TPG Architecture designed it.

September 1, 2011

Office Western

COLLIERS SELLS LA-AREA OFFICE BUILDING FOR $3M

by admin September 1, 2011

LOS ANGELES — Colliers International has sold a single-story office building at 1536 N. Highland Ave. in Los Angeles to the Musicians Institute for $3 million. The Musicians Institute was represented by Ramsey-Shilling Commercial Real Estate Services. The private sellers, Mher & Sossy Tavidian of Vartan Tavidian, were represented by Kathleen A. Silver and Kay Thorpe out of Colliers’ West Los Angeles office.

September 1, 2011

Office Southeast

CASSIDY TURLEY ARRANGES SALE OF OFFICE BUILDING

by admin August 31, 2011

LANDOVER, MD. — Cassidy Turley has negotiated the sale of a 137,000-square-foot, Class A office building, located at 8301 Professional Place in Landover. Paul Collins, Bill Collins, Drew Flood, Jud Ryan and James Cassidy of Cassidy Turley represented the seller, Advance Realty Group. Washington, D.C.-based Persimmon Capital Partners was the buyer.

August 31, 2011

Office Texas

INTERCONTINENTAL CENTER IN HOUSTON SELLS

by admin August 31, 2011

HOUSTON — The nine-story Intercontinental Center Office Building, a property sitting on 5.14 acres and has 198,090-square-feet of rentable space in Houston, has recently been acquired. The buyers formed 15600 JFK Houston Partners, LLC in order to purchase the property, and they plan on making capital improvements to the facility.

August 31, 2011

Office Texas

OIL COMPANY RENEWS OFFICE LEASE IN NINE GREENWAY PLAZA

by admin August 31, 2011

HOUSTON — W&T Offshore, Inc., an oil and natural gas company, has renewed its lease for 71,289 square feet of office space at Nine Greenway Plaza, located in Houston’s Greenway Plaza complex. Warren Savery and Bubba Harkins of Crescent Real Estate negotiated the lease on behalf of the landlord, Crescent Crown Nine Greenway SPV LLC, and CB Richard Ellis’ Charles Gordon and Ron McWherter represented W&T.

August 31, 2011

Office Texas

AZTEC ARRANGES ACQUISITION FINANCING FOR WESTCHASE CORPORATE PARK

by admin August 31, 2011

HOUSTON — Westchase Corporate Park, a 177,000-square-foot business park comprised of 13 buildings in Houston, has received $7 million in acquisition financing on behalf of AF Westchase LLC, a joint venture between Adler Real Estate Fund and TriGate Capital. Howard Taft and Charles Penan of Aztec helped arrange the funding. Westchase Corporate Park is 85 percent occupied with tenants like Honeywell, Western Geophysical, Men’s Wearhouse, MI Swaco, BMC Software, American Express, GE Capital and JP Morgan Chase.

August 31, 2011

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