SAN DIEGO — Information Systems Laboratories has signed a 30,097-square-foot, 72-month lease renewal at Sorrento Tech I in the Sorrento Mesa submarket of San Diego. The renewal is valued at $2.285 million. The technology development company utilizes this freestanding flex R&D building for its headquarters. CresaPartners’ Don Mitchell represented Information Systems. JLL’s Chad Urie and Ryan Grove represented the landlord, Bixby Kibbee, LLC.
DORAL, FLA. — The 281,623-square-foot One Park Square, an office building located at 3470 NW 82nd Ave. in Doral, has received $30 million in financing from Miami-based City National Bank of Florida. The 3-year loan, which has the option to extend 2 additional years, provided funds for property acquisition and lease-up.
HOUSTON — AF Westchase LLC, a joint venture between Adler Real Estate Fund and TriGate Capital, has purchased Westchase Corporate Park, a 177,000-square-foot flex park consisting of 13 buildings at 11201-11331 Richmond Ave. in Houston, for $9.8 million from PS Business Parks. 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. CB Richard Ellis brokered the sale on behalf of PS Business Parks. Miami-based Adler Group manages AF Westchase.
DALLAS — MetLife has named Jones Lang LaSalle (JLL) the exclusive leasing agents for its Turtle Creek Centre, a 312,000-square-foot office building at 3811 Turtle Creek Blvd. in Dallas. JLL’s Daryl Mullin, Steve Everbach and Conor McCarthy are handling the leasing efforts. The office building features a health facility, a deli and on-site security. The building is currently 82 percent leased to tenants such as Communications Sciences Corp., Wilson Associates and Jackson Lewis, LLP.
DENVER, LOS ANGELES — NorthMarq Capital has arranged more than $12 million in financing for two Western region properties. It arranged $6,350,000 in permanent financing for the 61,456-square-foot Crestline Office Center in Greenwood Village, Colo. John M. Stewart, senior vice president, and Brock Yaffe, senior investment analyst from NorthMarq’s Denver regional office arranged the financing for the borrower. The company also arranged $6 million in first-mortgage financing for the 199,562-square-foot Azusa Industrial Center in Azusa, Calif. Michael Elmore, senior vice president and managing director of NorthMarq’s Los Angeles regional office arranged the financing for the borrower through the company’s correspondent relationship with Aetna Life Insurance Company.
BLUE BELL, PA. — PCCP, LLC has provided a $23.75 million loan to Bala Cynwyd, Pa.-based Keystone Property Group for the recapitalization of a 228,000-square-foot Class A office complex in Sentry Park West in Blue Bell. The office building sits on 16 acres at 1777 Sentry Pkwy. W. and includes five buildings: Gwynedd Hall, Dublin Hall, Abington Hall, Merion Towle and a branch of PNC Bank.
NEW YORK CITY — Apple has leased 40,000 square feet of office space at 100-104 Fifth Ave. in Manhattan’s Union Square in New York City, which will serve as Apple’s first executive offices in Manhattan. The office property is a 17-story, 270,000-square-foot office building that houses tenants like Yelp, Interactive Partners and Net-A-Porter. The Kaufman Organization, in partnership with Invesco, owns the office building, which is going through a $9 million renovation to the lobby, elevators and building infrastructure. Grant Greenspan represented The Kaufman Organization in house, and Martin Horner of Jones Lang LaSalle represented Apple.
RICHMOND, VA. — Cushman & Wakefield/Thalhimer has arranged the $4.3 million sale of the 76,164-square-foot Villa Park I office building, located at 8040 Villa Park Dr. in Richmond. Mark Douglas and Brian Berkey of Cushman & Wakefield/Thalhimer's Richmond office represented the seller, Orix Capital Markets, in the transaction. The buyer was Villa Park I, LLC.
BILLERICA, MASS. — E Ink has signed a lease to occupy the entire 139,180-square-foot office flex building at 1000 Technology Park Dr. in Billerica. Colliers International’s Tad Lee and Christopher Lawrence represented E Ink, while Doug Fainelli and Jason Denoncourt represented the landlord, The Gutierrez Company, in house. The office building is a single story building in Concord Road Technology Park, which houses tenants such as GE Industrial Sensing, Inc., Raytheon Co., Avaya and Luminus Devices.
DALLAS — Jones Lang LaSalle’s (JLL) Capital Markets has secured a $205 million loan for a joint venture for The Crescent, a 1.3 million-square-foot office complex in Dallas. The joint venture between J.P. Morgan Asset Management and Crescent Real Estate Equities received the 10-year, interest-only loan through MetLife. JLL’s Mike Melody, Paul House, Robby Zorich and John Alvarado arranged the financing. The Crescent features Class A office and retail space, and is comprised of more than 100 tenants. The property is located in Dallas’ Uptown/Turtle Creek submarket at 200 Crescent Ct.