Office

TEN WEST CORPORATE CENTER II SELLS IN HOUSTON

by admin January 27, 2011

HOUSTON — Ten West Corporate Center II, a 250,260-square-foot Class A office building in Houston's Energy Corridor, has sold. Located at 17404 Katy Freeway within the Park Ten Office Park, the office property was completed in 2006 and is fully leased to Mustang Engineering, a wholly owned subsidiary of the John Wood Group, LC. Minneapolis-based Founders Properties, represented by Rusty Tamlyn, Dan Miller and Trent Agnew of Holliday Fenoglio Fowler's (HFF) Houston office, sold the property to ING Clarion Partners. ING purchased the property on behalf of a commingled fund advised by the firm. Mustang Engineering and its affiliates occupy more than 1 million square feet of space in Park Ten Office Park.

January 27, 2011

LEE & ASSOCIATES PRESIDES OVER $6.3 MILLION OFFICE BUILDING TRANSACTION

by admin January 27, 2011

IRVINE, CALIF. — Lee & Associates has completed GE Capital’s $6.3 million foreclosure sale of the 35,000-square-foot Teslaco Building, an office building located at 35 Tesla in Irvine, to Owen Commercial. Lee & Associates Irvine’s Brian Garbutt and Andrew Robben represented both parties in the off-market transaction.

January 27, 2011

Northeast Office

BPG PROPERTIES SELLS TWO OFFICE PARKS

by admin January 26, 2011

KING OF PRUSSIA, PA. — BPG Properties has sold two office properties located in King of Prussia to an undisclosed buyer. Executive Terrace is a 132,089-square-foot, mid-rise office campus that was 91 percent leased at the time of its sale. King of Prussia Business Center consists of 14 one- and two-story buildings totaling 175,990 square feet. It was 72.6 percent leased at the time of closing. Eric Mattson of Newtown Square, Pa.-based Professional Realty Advisors brokered the deal.

January 26, 2011

Office Southeast

ADLER GROUP ACQUIRES TENNESSEE OFFICE BUILDING

by admin January 25, 2011

BRENTWOOD, TENN. — Alder Real Estate Fund has acquired the Parklane Building, a four-story, office building located at 5200 Maryland Way in Brentwood. The 110,000-square-foot property is occupied by LabCorp, American Home Patient, Sprint, Time Warner and CSX Transportation. Panattoni Development Co. sold the property for an undisclosed price. Matthew Adler of Adler Group represented the buyer; Perry Gooch and Crews Johnson III of Cassidy Turley represented the seller in the transaction.

January 25, 2011

Office Southeast

CBRE CAPITAL MARKETS ARRANGES $8.1 MILLION OFFICE LOAN IN ALABAMA

by admin January 25, 2011

MONTGOMERY, ALA. — CB Richard Ellis has arranged $8.1 million in financing for Sterling Centre in Montgomery. Built in 1988 and situated on 4.9 acres in the East Montgomery submarket, the property offers 101,014 square feet of Class A office space. The building is 100 percent occupied by tenants, including USDA, Synovus and NY Life. Kevin Troy of CBRE Debt & Equity.

January 25, 2011

Office Western

COLLIERS INTL. MANAGES $2.4 MILLION OFFICE & SHOWROOM TRANSACTION

by admin January 25, 2011

SCOTTSDALE, ARIZ. — Colliers International–Greater Phoenix has completed the $2.4 million sale of the 32,327-square-foot Hacienda Plaza, an office and showroom property located within the Scottsdale Airpark at 15613 North Greenway-Hayden Loop in Scottsdale. Hacienda Lighting occupies approximately 60 percent of the building. Colliers International’s Greg Hopley represented the sellers, Larry Coffee and Connie Coffee of Nebraska, in the transaction, and the brokerage firm’s Jim Keeley and Mike Milic represented the buyer, Denali National Trust.

January 25, 2011

Office Southeast

NAI AVANT BROKERS $1.6 MILLION SALE IN CHARLESTON, S.C.

by admin January 24, 2011

CHARLESTON, S.C. — NAI Avant represented the undisclosed seller disposition of the second and third floors of 270 King Street in downtown Charleston. The property was formerly The Masonic Lodge and Shahid's Department Store. Thomas Boulware of NAI Avant brokered the transaction, which was valued at $1.6 million.

January 24, 2011

Office Southeast

CBRE BROKERS 685,009 SQUARE FEET OF OFFICE SALES IN FLORIDA

by admin January 21, 2011

ST. PETERSBURG AND TAMPA, FLA. — CB Richard Ellis (CBRE) Capital Markets has brokered the sales of more than 685,000 square feet of office space in the Tampa Bay area. In St. Petersburg, a joint venture of affiliates of Second City Capital Partners, Feldman Equities and Tower Realty Partners acquired City Center, a two-building 242,115-square-foot office campus, for $16.5 million or $68 per square foot. Don Jennewein of CBRE's Debt & Equity Group secured bridge loan financing on behalf of the buyer. In Tampa, CBRE represented a joint venture consisting of affiliates of Trigate Capital, Feldman Equities and Tower Realty Partners in the acquisition of Fountain Square II, a 134,065-square-foot office building. Additionally, on behalf of Wells Fargo, CBRE arranged the $12 million sale of Independence Park, a 43.81-acre multi-building development site, which includes an existing 116,723-square-foot office building. The property is a fully entitled Development of Regional Impact, which can support up to 524,000 square feet of additional office space. In Mid-Pinellas County, CBRE, on behalf of Midland Loan Services, arranged the sale of 16120 U.S. Highway 19, a 192,106-square-foot office building, to St. Petersburg-based The Cypress Company. CBRE's marketing team was led by Dale Peterson and Paul Carr …

January 21, 2011

Midwest Office

ESD TO DESIGN 440,000-SQUARE-FOOT DATA CENTER IN CHICAGO

by admin January 21, 2011

CHICAGO — Environmental Systems Design (ESD) has been selected to design Server Farm Realty's new 440,000-square-foot data center/electronic trading facility in Chicago's South Loop. Located at 840 S. Canal St., the facility will offer an electronic trading environment of 30 watts per square foot with more than 150,000 square feet of data center space designed at 150 watts per square foot. The facility will be supported by more than 32 megawatts of power and will be backed up by more than 20 2,500-kilowatts generators. Additionally, the facility has a floor load of 225 pounds per square foot. The new facility will be ready for occupancy in September.

January 21, 2011

Office Western

NBS FINANCIAL SRVCS. ARRANGES $16 MILLION OFFICE LOAN IN CAL'S CAPITAL CITY

by admin January 21, 2011

SACRAMENTO, CALIF. — NBS Financial Services has arranged a $16 million loan for the 149,000-square-foot Granite Park Regional, a single-tenant office building occupied by the County of Sacramento. NBS’s Ken Griggs and Paddy Ryan arranged the 12-year, fixed-rate loan through correspondent life-insurance company lender, ING Investment Management.

January 21, 2011

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