Office

HOULIHAN-PARNES SECURES $6.5 MILLION FOR WHITE PLAINS OFFICE BUILDING

by admin July 2, 2010

WHITE PLAINS, N.Y. — Houlihan-Parnes Realtors has secured a $6.5 million first-mortgage for a multi-tenant office building in White Plains. The property totals 70,000 square feet and is located at 7-11 S. Broadway. It was 83 percent occupied at the time of closing. The non-recourse financing carries a 6.25 percent interest rate for a 5-year term, a 30-year amortization schedule and a 5-year extension option. Mik O'Neill of Houlihan-Parnes places the loan and Elizabeth Smith of Goldberg Weprin represented the borrower in the transaction.

July 2, 2010

AT&T REGIONAL HEADQUARTERS SOLD

by admin July 2, 2010

DALLAS — Cole Real Estate Investments has acquired the 206,040-square-foot AT&T Regional Headquarters office building from an undisclosed party. The purchase price was listed at $29.4 million. The Class A property, which is fully leased to AT&T, is located in Dallas' Pinnacle Business Park.

July 2, 2010

Office Texas

HOUSTON OFFICE BUILDING CHANGES HANDS

by admin July 2, 2010

HOUSTON — Stanley Leventhal, Et Al, has sold a 4,725-square-foot office property to Alice Hiniker Sharma Marital Trust for an undisclosed amount. The building, located at 4909 Main St. in Houston's Museum District, is divided up into office, warehouse and mezzanine space. Alan Parker Properties of Houston represented the seller. Angela Villagomez of City Life Brokers represented the buyer.

July 2, 2010

Office Western

LA REALTY PARTNERS HANDLES $7.3 MILLION OFFICE LEASE FOR PCAN

by admin July 2, 2010

EL SEGUNDO, CALIF. — LA Realty Partners has negotiated a new, approximately $7.3 million lease for 24,166 square feet of office space in suite 200 at 1500 Rosecrans Avenue in El Segundo. LA Realty Partners represented the tenant, Pancreatic Cancer Action Network, in the 10-year deal, and the landlord, Continental Development Corp., represented itself. The El Segundo office is PCAN’s national headquarters.

July 2, 2010

Midwest Office

GROUND BREAKS ON 82,000-SQUARE-FOOT OFFICE BUILDING

by admin July 1, 2010

OMAHA, NEB. — Omaha-based Darland Construction has broken ground for the construction of a corporate headquarters property for Pinnacle Bank in Omaha. The three-story, 82,000-square-foot office building will feature 63,000 square feet of office space and 19,000 square feet of underground parking space. The facility will house a Pinnacle Bank branch, Pinnacle’s corporate headquarters and the offices of Seim Johnson, an accounting/consulting firm. Avant Architects is providing architectural services for the project, which is scheduled for completion in May 2011.

July 1, 2010

Northeast Office

CBRE REALTY TRUST PURCHASES 200,411-SQUARE-FOOT OFFICE BUILDING

by admin July 1, 2010

BURLINGTON, MASS. — CB Richard Ellis (CBRE) Realty Trust has acquired a Class A office building in Burlington. One Wayside Road totals 200,411 square feet over four stories. It serves as the corporate headquarters for Nuance Communications, which is leasing it through 2018. The building was expanded in 2008 when Nuance took occupancy; construction included the addition of a cafeteria and a fitness center. An in-house negotiations team led by Kim Adamek completed the deal on behalf of CBRE Realty Trust. The seller's name was not disclosed.

July 1, 2010

Office Western

CBRE INVESTORS PURCHASES 5-OFFICE BLDG. PORTFOLIO WITHIN OAKLAND CITY CTR.

by admin July 1, 2010

OAKLAND, CALIF. — CB Richard Ellis Investors has purchased a 1.6 million-square-foot office portfolio located within Oakland City Center. Ninety-one percent leased at the time of sale, the five-building portfolio in the heart of Oakland’s central business district consists of 1111 Broadway, 555 12th Street, 1300 Clay Street, 505 14th Street and City Square. The purchase, which included City Center Garage, was made on behalf of the CBRE Strategic Partners U.S. Value 5 fund, a commingled private equity real estate fund raised from institutional investors in the United States, Europe and the Middle East.

July 1, 2010

Midwest Office

15,134-SQUARE-FOOT OFFICE/WAREHOUSE SELLS IN OHIO

by admin June 30, 2010

RICHFIELD, OHIO — Cuyahoga Falls, Ohio-based Carrara Cos. has acquired a 15,134-square-foot office and warehouse property in Richfield. Situated on 10.44 acres at 3774 Congress Parkway, the property sold for $735,000. William Nice and John Chaluda of Cleveland-based The Chartwell Group represented the buyer; Jennifer Fernandez of NAI Cummins Real Estate represented the seller, Akron, Ohio-based The Macomb Group, in the transaction.

June 30, 2010

Northeast Office

CBRE REALTY TRUST ACQUIRES 142,500-SQUARE-FOOT OFFICE BUILDING

by admin June 30, 2010

MONTVALE, N.J. — CB Richard Ellis Realty Trust (CBRE) has acquired a Class A office building located in Montvale. The two-story, 142,500-square-foot property is situated on 35 acres at 225 Summit Ave. It is currently occupied by Medco Health Services, which is subleasing the space from Barr Pharmaceuticals. The property was built in 1966 and underwent an $8.5 million renovation in 2007. Amenities include a 300-seat cafeteria and 480 parking spaces. The seller was a partnership between a fund managed by Urdang Capital Management, Ivy Equities and Paragon Realty. The Cushman & Wakefield team of Andrew Merin, David Bernhaut, Gary Gabriel and Jared Zimmel represented the partnership. The same team also procured the buyer.

June 30, 2010

Northeast Office

NORTHMARQ ARRANGES $34 MILLION FOR TWO MANHATTAN TOWERS

by admin June 30, 2010

NEW YORK CITY — NorthMarq Capital has arranged a total of $34 million in first-mortgage financing for two Manhattan office towers. The buildings total approximately 300,000 square feet and are located at 300 E. 42nd St. and 1776 Broadway. The United Nations is the major tenant at the former property. The loan carries a 15-year term, a 25-year amortization schedule and a fixed interest rate. The lender was Sun Life of Canada. NorthMarq's Craig Bjornsund arranged the funding.

June 30, 2010

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