PARSIPPANY, N.J. — Mack-Cali Realty Corp. has announced that it will develop a 203,000-square-foot, Class A office building for Wyndham Worldwide Corp. in Parsippany, which will allow Wyndham to consolidate its workforce. The site will be developed adjacent to Wyndham’s corporate headquarters at 22 Sylvan Way on the Mack-Cali Business Campus. The headquarters at 22 Sylvan received LEED-Silver certification. Wyndham has leased the new facility for 15 years. The facility will be three stories and feature granite and glass exteriors. The building is slated for a first quarter 2013 completion and occupancy is set to take place in third quarter 2013. HLW International is designing the core and shell portion of the new facility.
FORT LAUDERDALE, FLA. — Grandbridge Real Estate Capital has secured $31.7 million in refinancing on behalf of Genesis Capital Partners XI for the 391,473-square-foot 110 Tower in Fort Lauderdale. The loan, which maintains less than a 50 percent loan-to-value ratio, was provided by Galveston, Texas-based American National Insurance Co. Tip Strickland and John Fenoglio of Grandbridge's Houston office and Al Rex of the firm's Fort Lauderdale office arranged the financing.
WAKEFIELD, MASS. — Hobbs Brook Management has purchased 101, 201 and 500 Edgewater Dr. in Wakefield’s Edgewater Office Park. With the 313,300-square-foot acquisition, Hobbs Brook now owns all seven buildings in the office park. Buildings 101 and 201 are two stories and feature concrete facades, and building 500 is a four-story building with granite exterior walls. Charles Batchelder of Wyman Street Advisors represented Hobbs Brook, and Cushman & Wakefield’s David Pergola, Robert Griffin and Edward Maher represented the sellers.
NORTH HAVEN, CONN. — Easter Seals Goodwill Industries, Inc. has purchased a 24,100-square-foot office building at 432 Washington Ave. in North Haven. O,R&L Commercial’s Tim McMahon represented the seller, Circle Media, Inc., and Toby Brimberg of O,R&L represented Easter Seals Goodwill.
HOUSTON — Cameron, an oil and gas equipment provider, has acquired an 86,000-square-foot, Class A office building in Westway Park from Baker Hughes Corp. The building is adjacent to Cameron’s existing 215,000-square-foot office site at 4646 W. Sam Houston Pkwy. North that houses Cameron’s Drilling & Production Systems. Charles Gordon of CB Richard Ellis represented the buyer, and Boyd Commercial’s Mike Boyd and Conrad Bernard represented the seller. Westway Park is owned by Wolff Cos. and comprises 2.2 million square feet of office space spanning 150 acres. The office park has 19 buildings and is home to 6,500 employees from companies like Sprint, GE Oil & Gas and Travelers Insurance.
BIRMINGHAM, ALA. — AREA Property Partners has negotiated the $68.5 million sale of the 514,893-square-foot Wells Fargo Tower in Birmingham. The firm's Value Enhancement Fund V sold the Class A property to an affiliate of Commonwealth REIT. Adam Spies, Michael McDonald and Kennedy Hicks of Eastdil Secured represented the buyer. The seller was self-represented by AREA.
ST. LOUIS, MO. — Stifel Financial Corp. has agreed to acquire One Financial Plaza, a 435,000-square-foot office building located at 501 N. Broadway in St. Louis, from Parmenter Realty Partners. The building will serve as it's new headquarters. The company is working with the local economic development council for a plan to support the acquisition of the building and ensuing job growth. Stifel had been rumored to anchor the long-delayed Ballpark Village mixed-use project prior to this acquisition.
WAUKESHA, WIS. — Milwaukee-based RFP Commercial has brokered the $2.85 million sale of a 32,000-square-foot office building located at N16 W23377 Stone Ridge Dr. in Waukesha. Bob Flood and Scott Revolinski of RFP represented the seller, Bielinski Homes. WELS was the buyer.
HOUSTON — Holliday Fenoglio Fowler (HFF) has brokered Peloton Capital Partners’ purchase of a five office building portfolio in west Houston, as well as arranged acquisition financing and joint venture equity for Peloton. Peloton purchased the portfolio, totaling 347,272 square feet, with the help of HFF’s fixed-rate financing through NexBank and joint venture equity through an Austin-based private equity firm. Martin Hogan and Dan Miller of HFF represented the seller, and HFF’s Steve Heldenfels represented Peloton in arranging financing and joint venture equity. The 78 percent occupied office portfolio includes: 1250 Wood Branch Park Dr. 11931 Wickchester Ln. 10200 Richmond Ave. 2950 and 3030 S. Gessner Rd.
HOUSTON — Marcus & Millichap Real Estate Services has brokered the sale of Corporate Plaza, a 112,472-square-foot office building at 7001 Corporate Dr. in Houston. The building had a listed sales price of $2.5 million. David Ching and Edward Benton of Marcus & Millichap’s Houston office represented the seller, a bank/financial institution, in the transaction.