MENDOTA HEIGHTS, MD. — Patrick Minea of NorthMarq’s Minneapolis office has secured a $28 million loan for Mendota Office Center I-IV and American Corporate Center in Mendota Heights. The office properties contain a total of 420,216 square feet of space. State Farm Life Insurance Co. provided financing for the loans.
PASADENA, CALIF. — CB Richard Ellis (CBRE) presided over the $52 million disposition of 2 North Lake, an office complex located at the corner of Colorado Boulevard and Lake Avenue in Pasadena. A private party, Singpoli, teamed with capital partners in Hong Kong and Taiwan to acquire the party, which consists of an 11-story, 203,911-square-foot office tower, two smaller, adjacent buildings and a parking structure. CBRE’s Kevin Shannon and Todd Tydlaska represented the seller, Grosvenor Americas, in the transaction.
MENDOTA HEIGHTS, MINN. — Patrick Minea of NorthMarq Capital’s Minneapolis regional office arranged a $28 million first mortgage for Mendota Office Center I, II, III, IV and American Corporate Center. Located in Mendota Heights, the properties offer a total of 420,216 square feet of office space. Financing was provided by State Farm Life Insurance Co.
WILLIAMSBURG, VA. — Henry S. Branscome LLC has acquired a 20,000-square-foot office building from Wather-Thomas Family Development of New Town LLC for $2.41 million. The property is located at 5372 Discovery Park Blvd. in Williamsbug. Dawn Griggs of Thalhimer’s Newport News, Va., office brokered the sale.
NEW YORK CITY — The Kaufman Organization has brokered a 15,536-square-foot office lease at 1250 Broadway, a 39-story, 670,000-square-foot tower located in Manhattan, New York City. Gabriels Technology Solutions will occupy the fully built, Class A space for a 5-year term. The technology provider is relocating from a smaller office on Hudson Street. Michael Heaner and Daniel Kahn of Kaufman represented the tenant. Eric Levy, Brad Siderow and A.J. Camhi of Murray Hill Properties represented the undisclosed landlord. The price of the lease was not released, but the asking price for the space was $50 per square foot.
LOS ANGELES — International law firm McKenna Long & Alridge LLP (MLA) has signed a long-term lease to occupy 62,418 square feet of office space at One California Plaza in downtown Los Angeles. The Class A+ space is located on two and one half floors at 300 S. Grand Ave. The firm plans to relocate to the space after tenant improvements are completed later this year. The deal in valued in excess of $30 million. Whitley Collins, Darren Eades, Tom McDonald and Tony Morales of Jones Lang LaSalle represented MLA in the deal. Maguire Properties, the landlord, was represented in-house by Josh Wrobel.
LOUISVILLE, KY. — St. Louis-based Charter Communications has signed a 99,923-square-foot lease renewal with Faulkner Real Estate for space in Ormsby Park Place. The 170,000-square-foot office building is located at 10300 Ormsby Park Place in Louisville. Faulkner Real Estate was represented in house by Jeff Ellison. Christopher Wood of UGL Equis’ Chicago office, Tim Stewart of the firm’s Cincinnati office and Brenda Lewis of the firm’s Greenwood Village, Colo., office represented the tenant.
NEWARK, DEL. — CB Richard Ellis (CBRE) has completed the sale of the Bowman Building, a 15,233-square-foot office building located in Newark. The single-story building is situated on 3.81 acres at 900 Prides Crossing. It is currently configured as an auditorium on the former Bank of America campus. CBRE'S Dan Rattay represented the buyer, Medical Society of Delaware, which plans to relocate its headquarters to the building. John Kaczowka and Brian Hopkins, also of CBRE, represented the seller, The Buccini/Pollin Group.
4,810-SQUARE-FOOT OFFICE/RETAIL BUILDING TRADES HANDS HUNTINGTON BEACH, CALIF. — Michael Lawrence of Marcus & Millichap’s Newport Beach, Calif., office represented a private investor in the disposition of a 4,810-square-foot office/retail property in Huntington Beach. Built in 1913, the property, which offers views of Huntington Beach Pier and the Pacific Ocean, is located at 117 Main St. The asset sold for $2.8 million.
CHERRY VALLEY, ILL. — Ragnar Benson Construction has completed One Bell Valley Commons, a Class A office project located in Cherry Valley. The three-story, 69,600-square-foot building is situated on 4.39 acres at the entrance to Bell Valley Commons Subdivision. Ragnar Benson also completed the tenant build-out for accounting firm McLadrey. The developer of the project was C-Bro Ltd. Development Group.