NEW YORK CITY — Savanna Fund II REIT has acquired the senior mortgage loan for 80 Broad Street, a 36-story, 410,000-square-foot office tower located in Manhattan. A partnership led by Swig Equities acquired the building in 2004 and took out a $75 million senior mortgage loan in 2006 following extensive renovations. The Cushman & Wakefield team of Steve Kohn Helen Hwang, Nat Rockett, Karen Wiedenmann and Alex Hernandez represented the seller and special servicer, J.R. Robert Companies Inc.
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SALEM, N.H. — Integrated Builders has completed the build-out for Comcast's Maine/New Hampshire office in Salem. The telecommunications provider occupies 104,000 square feet at 9 Northeastern Blvd. The build-out included installing drop ceiling, vinyl composite tile flooring, and HVAC and fire protection systems in the facility's testing room.
COPPELL — JP Morgan Chase Bank has leased Freeport IV, a 125,103-square-foot office and call center located at 1111 Northpoint Dr. in Coppell, from Duke Realty Corp. It will use the building for its mortgage operations, consolidating several other call center operations into the facility this August. Freeport IV is one of 13 buildings in Duke Realty's Freeport North development just off Interstate 635 and Texas State Highway 121 in Coppell. Paul Whitman and Russell Cosby of Jones Lang LaSalle represented JP Morgan Chase Bank in the transaction.
LOUISVILLE, KY. — Construction has begun for a 125,000-square-foot, Class A office building located at 600 North Hurstborne in Louisville. The building is being developed by a joint venture between NTS Development Co. and University of Louisville Development Co. The four-story building was designed by architect KlingStubbins. The construction manager on the project is Messer Construction.
PARSIPPANY, N.J. — Grosvenor Investment Management has leased a 150,500-square-foot building located at 299 Jefferson Road in Parsippany to Evonik Degussa Corporation. The speciality chemicals manufacturer will use the property as its North American headquarters. Vision Equities represented the landlord in lease negotiations. The building is in the process of a renovation, which includes common area improvements, a new fitness center, a roof replacement and updated building systems.
NEWARK, CALIF. — BioMed Realty Trust has signed a new lease with Logitech for 263,543 square feet of office space through February 2023 at its Pacific Research Center in Newark. Terms of the lease were not disclosed.
GRAND RAPIDS, MICH. — A $4.82 million renovation and mini-perm loan was provided in Grand Rapids for the 31,139-square-foot Flat Iron building. The office building is a four-story property with street-level retail space. The loan was arranged by Colliers International's West Michigan office through Chicago-based Cohen Financial for the borrower, Grand Rapids-based Locus Development. The developer is focused on revitalizing and redeveloping unique urban properties.
MORRIS TOWNSHIP, N.J. — National Business Parks has leased a 189,000-square-foot office building to Atlantic Health System. The property is located within Southgate Corporate Center at 435 South St. in Morris Township. Atlantic Health already occupies a nearby building at 475 South Street. it expects to move in during the fourth quarter following building improvements that include new building systems and finishes, a redesign of the front entrance and the addition of an on-site café.
CARLSBAD, CALIF. — Logan, Utah-based Wasatch Commercial Management Group has purchased the 75,165-square-foot Kelly Corporate Center IV, located at 1000 Aviara Parkway in Carlsbad, for $13.7 million from Dallas-based The Allen Group. The three-story, Class A office building will undergo a complete rebranding and name change in the coming months. Rick Reeder, Justin Halenza and Josh Bernstein of San Diego-based Cassidy Turley BRE Commercial represented both the buyer and the seller in the transaction.
NORTHWEST MESA, ARIZ. — R & R Riverview on Arizona has purchased two buildings totaling 162,000 square feet at Riverview Point Office Park, a multi-tenant office project located in Northwest Mesa for $9.05 million. David Carder, Barry Gabel, Mindy Korth and Luke Walker of CB Richard Ellis' Phoenix office represented the seller, Indianapolis, Ind.-based Lauth Property Group. The buyer was represented by Bryan Taute, also of CB Richard Ellis' Phoenix office.