RANDOLPH, MASS., AND ROCHESTER, N.H. — Newton, Mass.-based Ashworth Mortgage Corp. has arranged $14.7 million in first-mortgage financing for a New England office and industrial portfolio. The first part of the portfolio includes two office buildings totaling 102,367 square feet that are located at 14 and 15 Pacella Drive in Randolph. The second part of the portfolio includes a two-building, 211,092-square-foot industrial complex located at 7 Amarosa Drive in Rochester. The loans carry fixed interest rates, a 10-year term, a 25-year amortization schedule and rate resets at the end of the fifth year. The borrower was undisclosed, and the lender was a banking institution.
BELLEVUE, WASH. — Cole Real Estate Investments has acquired the 583,179-square-foot City Center Plaza, a Class A office tower in Bellevue, for $310 million. Ninety-six percent leased to Microsoft through 2024, City Center Plaza is situated at the entrance to the Bellevue central business district and adjacent to the Bellevue Transit Center. Eastdil Secured’s Jeffrey Weber, Stephen Van Dusen and Jason Flynn represented the seller, Beacon Capital Partners, in the all-cash transaction; Cole was represented in-house by Kim Kundrak and Boyd Messmann. Constructed in 2008 and home to Microsoft’s Bing division, the office tower is LEED Gold certified.
IRVINE, CALIF. — Grubb & Ellis has represented Golden State Foods in its 10-year, 32,000-square-foot office lease extension and expansion at the Von Karman Towers located at 18301 Von Karman Ave. in Irvine. GSF will occupy an additional 6,000 square feet at the Class A office building, which serves as the major foodservice industry supplier’s headquarters. Grubb & Ellis’ Greg May and Chon Kantikovit represented the tenant in the transaction, and Jeff Morgan of CB Richard Ellis represented the property’s landlord, KBS Realty Advisors.
ORLANDO AND MAITLAND, FLA. — NAI Realvest has brokered two office sales in Florida totaling more than $9 million. In the first transaction, Adler Group of Miami purchased an eight-building investment property from a private party for $5.75 million. The 92,573-square-foot development, located at 1218-1232 Winter Garden-Vineland Road in Orlando, includes seven office buildings and one retail building. George Livingston, Christie Alexander and Drew Saphos of NAI Realvest brokered the sale. NAI Realvest's Thomas Hankins represented Lucien Way LLC in its $3.45 million sale of a 59,798-square-foot office building to Alliance Lucien Way. The property is located at 2200 Lucien Way in Maitland.
ANDOVER, MASS. — Cushman & Wakefield has brokered the sale of two office/R&D buildings located on the campus of Woodland Park in Andover for $8.9 million. The first property is located at 600 Federal St. It consists of a two-story, 115,000-square-foot building that was 65 percent occupied at the time of closing. The second property is located at 800 Federal St. It consists of a three-story, 155,000-square-foot building that was vacant at the time of closing. The buyer was a partnership between Leggat McCall and an institutional fund managed by Fidelity Real Estate Group. The Cushman & Wakefield team of Robert Griffin, Jr., David Pergola, Christopher Griffin and Brian Doherty arranged the deal. Woodland Park is a 700,000-square-foot office park situated near the interchange of Interstate 93 and River Road.
SAN ANTONIO, TEXAS — The Department of Defense has leased 20,616 square feet of office spacefrom Talcott Realty Investors in theBank of America Plaza. The property is located at 300 Convent St. in San Antonio.The building is currently 90 percent occupied. CB Richard Ellis' Seth Prescott represented the Department of Defense. Martin Down of Transwestern represented the landlord.
WASHINGTON, D.C. — First Potomac Realty has purchased the 129,035-square-foot office property at 500 1st St. NW in Washington from AREA Property Partners Value Enhancement Fund VII for $68 million. AREA purchased the property with Van Ness Property Group in 2008 for $44.9 million. The Federal Bureau of Prisons leases the entire building.
JACKSONVILLE, FLA. — Comcast has leased 80 percent of a 106,253-square-foot office from Flagler in an 11-year, $22 million deal. The property is located in the Deerwood North business park at 4600 Touchton Road in Jacksonville. Deerwood is comprised of four Class A office buildings totaling 500,000 square feet. David Fahey of Binswanger Commercial represented Comcast. Flager was represented internally by Ross Carrier.
WEST ALLIS, WIS. — Kim Ellis, owner of Milwaukee-based ANS Home Health Services, has purchased the Roman Building, which is located at 1551 S. 108th St. in West Allis. Acquired for $1.02 million, the property offers 26,000 square feet on a 1.18-acre lot. The buyer plans to use the property to expand its business. Patrick Gallagher of Siegel-Gallagher represented the seller, Harris Bank, in the transaction.
SOMERSET, N.J. — Private equity fund manager NextBridge Group has acquired a 164,000-square-foot office property in Somerset. The four-story building is located on 10.1 acres at 220 Davidson Ave. Constructed in 1984, the property features a cafeteria, fitness centers and 648 parking spaces. Tenants include McKesson Information Solutions,, American Arbitration Association, Kyocera, Prudential, National Resources Conservation Services and SVM E-Business Solutions. The Cushman & Wakefield team of Andrew Merin, David Bernhaut, Gary Gabriel and Thomas Walsh represented the seller, an institutional lender, and procured NextBridge.