DALLAS — Chicago-based BB&T Real Estate Funding has provided $11.45 million in first-mortgage financing for Oakwood Tower and One Lee Park West, two Class B, multi-story office buildings located in the Uptown and Turtle Creek areas of Dallas, respectively. The two properties comprise 118,370 square feet of leasable space. The bridge loan carries a 3-year term with 1 year interest-only, and some levels of amortization in the second and third years. Adam Levinson of Chicago-based Cohen Financial originated the transaction.
HERNDON, VA. — Union Investment Real Estate AG has acquired Woodland Pointe, a Class A office building in Herndon, from Tishman Speyer. The approximately 184,787-square-foot property was completed in January and is leased to Volkswagen of America. The six-story property is situated within Woodland Park, a business park comprising of office space, apartments, restaurants and a hotel.
BALTIMORE — WellDoc Communications plans to relocate their corporate headquarters to the Railway Express Building in Baltimore. The 5,200-square-foot space is located at 1501 St. Paul St. and is currently undergoing a $19 million conversion into a mixed-use development. The finished product will feature 30,000 square feet of office and retail space, and 30 loft apartments. Brad Berzins of NAI KLNB represented the tenant and Lone Azola of O’Connor & Mooney Realtors represented the landlord in the transaction, Railway Express LLC. The technology-based healthcare company was previously located in the Johns Hopkins University Eastern campus.
WAUKEGAN, ILL — Krusinski Construction Co., as general contractor, has completed construction of a two-story office and warehouse facility located at 1951 Norman Dr. in Waukegan for developer Nicolson Porter & List. The 90,635-square-foot building has been leased to Diamond Marketing Services. Located on approximately 5 acres, the facility features eight exterior docks and one drive-in door, a two-story 8,556-square-foot office, and parking for 102 cars. Andrew Johnson served as project manager for Krusinski; Werner Brisske of Deerfield, Ill.-based Partners in Design was the architect.
SEATTLE — Vulcan Inc. has completed the second phase of UW Medicine’s research hub in Seattle’s South Lake Union neighborhood. Located at 815 Mercer St., the second phase consists of a 170,000-square-foot laboratory building and an 86,000-square-foot office building. In an effort to foster greater synergies and collaboration, several research groups are co-locating in the building, including the Institute for Stem Cell and Regenerative Medicine, the Center for Lung Biology, the Diabetes & Obesity Center of Excellence, and a proposed Mitochondria and Metabolism Center run by the Department of Anesthesiology. Perkins+Will provided architectural services for the project; Sellen Construction served as general contractor; Magnusson Klemencic Associates served as structural engineer; Affiliated Engineers NW provided electrical and mechanical engineering services; Coughlin Porter Lundeen served as civil engineer and Gustafson Guthrie Nichol provided landscape architectural services.
GARDEN GROVE, CALIF. — Orange County, Calif.-based Burke Real Estate Group has acquired Cedargrove Business Park in Garden Grove for $10.2 million. Located at 13311 to 13341 Garden Grove Blvd., the four-building park offers 79,926 square feet of space. Mike Hefner and Paul Caputo of Voit Commercial Brokerage’s Anaheim Metro office represented the buyer; John Gates of Central DeAnza LLC represented the seller, Herd Partnership, in the transaction.
CENTURY CITY, CALIF. — Irvine, Calif.-based Snyder Langston has completed the construction of a 34,000-square-foot office building for Fox Studios. Located on the Fox Studios’ lot in Century City, the four-story building was completed on an accelerated time frame to accommodate one of the tenants. Digital Media is occupying the fourth floor of the facility, while Fox will use the first floor for dressing rooms and the second and third floors for post-production operations. Additionally, the property was constructed to meet LEED certification standards. John Wiedner of Gensler Architects provided architectural services for the project.
CLEVELAND — The K&D Group has purchased the $64.7 million Atrium complex, formerly the William Taylor & Sons Department Store, located at 668 Euclid Ave. in downtown Cleveland. A 450-space parking garage located at 645 Prospect Ave. and the Dollar Bank Building located at 614 Euclid Ave. were also acquired in the transaction. K&D is planning the historic renovation of the Atrium into a mixed-use facility containing approximately 240 luxury apartments, and 65,000 square feet of commercial and retail space. The redevelopment is anticipated to be complete in 2010. Financing for the acquisition was provided by a variety of sources. The two-building Atrium complex, which was sold by David Goldberg, features a 73-foot high atrium connecting an eight-story building and a four-story building.
INDIANAPOLIS — On behalf of Locke Reynolds LLP, Tim O’Brien and Samuel Smith of Indianapolis-based Resource Commercial Real Estate have arranged a 56,000-square-foot lease in the Capital Center located at 201 North Illinois St. in downtown Indianapolis. The law firm, which currently occupies floors eight to 11 in the same building, is expected to move to floors 19 to 23 in December. Gensler, an interior design, planning and strategic consulting firm, has been contracted to design the space.
AURORA, ILL. — Riverwoods, Ill.-based Podolsky Northstar CORFAC International has begun site work for Phase II of Orchard 88 Business Park in Aurora. The second phase begins just as Candlewood Suites breaks ground on its new design prototype, which will be developed on a 2.18-acre parcel in Phase I of the multi-use facility. Costing approximately $1 million to complete, Phase II infrastructure work will enable Orchard 88 to offer pad-ready, 1.5- to 10-acre sites along Interstate 88.