ORINDA, CALIF. — Newmark Realty Capital has arranged $11.8 million in financing for the 88,000-square-foot Pine Grove Business Center, an office building located in Orinda. Set up by Newmark’s Eric Von Berg and Tom Dao through a life insurance company, the 15-year loan is amortized over 25 years.
INDIANAPOLIS — Pac-Van Inc. has acquired a 10,329-square-foot office building at 9155 Harrison Park Court in Indianapolis' historic Harrison Park district. Built in 1999, the property offers 19 private offices, a large executive suite, 24 works stations, a reception area, a conference room, a training lab, a break room and restrooms. Pac-Van is one of the largest national suppliers of innovative space and storage solutions with 26 branch locations in across the United States. Keith Dedrick of Corporate Commercial Group represented the buyer; Mark Writt and John Vandenbark of CB Richard Ellis represented the seller, Perpetual Group, in the transaction. The acquisition price was not released.
WAYNE, N.J. — Prism Capital Partners has sold an office building located at 1655 Valley Rd. in Wayne to a private real estate investment firm for $14.2 million. The four-story, 163,000-square-foot office property was constructed in 1987 and is currently occupied by UPS. Newmark Knight Frank arranged the deal.
SANTA MONICA, CALIF. — Game Show Network has renewed an approximately 50,000-square-foot lease at the Arboretum Courtyard office complex, located at 2150 Colorado Blvd. in Santa Monica. The producer of nationally televised game shows, including “Wheel of Fortune” and “Jeopardy,” inked a 7.5-year deal at the two-building, 143,555-square-foot property, which was built in 1998. Cresa Partners’ Dave Toomey and Brian Davies represented the tenant in the lease transaction, and Scott Rigsby and Jim Jacobsen of Industry Partners represented the landlord, Equity Office. An Arboretum Courtyard tenant since 2002, GSN currently occupies all but a portion of the ground floor of one of the four-story, Class A buildings. Other notable tenants in the complex include Google, Fentress Architects and Business.com.
CHICAGO — LKQ Corp. has selected Reed Construction to complete a 20,000-square-foot office space built-out within Citigroup Center, which is located at 500 W. Madison in Chicago. The project includes high-end millwork, custom architectural metal paneling, glass and wood panels for private and open office areas, conference rooms, and a reception area. Additionally, the project includes high-end acoustic ceilings and dramatic lighting details. Eastlake Studio is providing architectural services for the project, which is scheduled for completion in May.
PHOENIX — Affiliates of The Mack Co. have purchased the 75,050-square-foot Whispering Wind Corporate Center, located at 2205 and 2225 W. Whispering Wind Drive in northwest Phoenix, for $5.65 million. Representing the lender, JP Morgan Chase, KM Realty Services’ Kelly McKone was the court-appointed receiver for the property. The previous owner was Vazza Phoenix LLC of Canton, Mass. The two-building, two-story, multi-tenant office complex was roughly 60 percent leased at the time of sale.
TEMPE, ARIZ. — On behalf of Mobile Mini, McShane Construction Co. has completed a 20,000-square-foot office improvement project in Tempe, an expansion that included nine private offices, 158 open workstations, two galley kitchens, one 1,800-square-foot break room, one training room and four conference rooms. The international firm currently occupies 85 percent of the facility, which houses its corporate headquarters and national sales center operations. McCarthy Nordburg Architectural Interior Design provided the architectural services for the project.
SAN RAMON, CALIF. — William Wei-Ming Ting and Florah Hsieh Ting have purchased a 9,792-square-foot office building, located at 2262 Camino Ramon in San Ramon, from H. Michael Vawter and Charyl D. Vawter for $1.6 million. Grubb & Ellis’ Sonny O’Drobinak represented the buyer in the transaction, and Jeff Weil, Bruce Witt and Eric Erickson of Colliers International represented the seller.
COLUMBIA, MD., AND TYSONS CORNER, VA. — Cassidy Turley has arranged the sale of a three-building office portfolio in Maryland and Virginia. First Potomac Realty Trust acquired the properties – Cedar Hill I and III totaling 102,632 square feet in Tysons Corner, and Columbia Office, a 137,677-square-foot building in Columbia, for an undisclosed price. Cedar Hill I, located at 2222 Gallows Road, and Cedar Hill III, located at 2216 Gallows Road, are fully leased to the GSA through 2020 and 2019, respectively. Columbia Office is located at 10320 Little Patuxent Parkway. Paul Collins, Bill Collins, Drew Flood, Jud Ryan and James Cassidy of Cassidy Turley represented the seller, PNC Realty Investors, which sold the property on behalf of a client, in the transaction.
EDISON, N.J. — Boston-based TA Associates Realty has purchased Metroview Corporate Center, a 196,000-square-foot, Class A office building located in Edison, for $42.1 million in an all-cash deal. The 11-story building is situated on 11.5 acres at 333 Thornall Street. Occupancy was 93 percent leased at the time of closing, and less than 13 percent of the existing leases will come to term over the next three years. The building was constructed in 1984. Amenities include a renovated lobby, a 170-seat cafeteria with outdoor seating, and a two-story parking deck. The building is LEED-Silver certified. The Cushman & Wakefield team of Andrew Merin, Gary Gabriel and David Bernhaut represented the seller and procured the buyer.