SAN ANTONIO — Buchanan Street Partners has negotiated a $20.4 million financing package for the development of Stone Oak Centre, an 81,560-square-foot office and retail property in San Antonio. The project, which is located along Stone Oak Parkway, includes five Class A, two-story office buildings and two retail buildings. Buchanan Street Partners structured a $15.5 million construction loan and arranged $4.92 million in equity with third-party investor Ascent Real Estate Advisors. The financing was arranged on behalf of the developer, M.S. Walker & Associates. Construction is slated to begin this summer on Stone Oak Centre, which is expected to be fully leased by January 2009.
YORK COUNTY, N.C. — Koll Development Co. has built Intellicenter-Charlotte, a 150,000-square-foot, three-story office building in York County, located at the southeast corner of Interstate 77 and Gold Hill Road. Daimler Trucks North America has signed an 11-year lease for the building and will occupy the property in July. The facility will house a small contingency of Daimler’s Portland, Ore.-based sales and marketing employees. Construction began last July. The project architects were Forum Studio and Gensler.
SKOKIE AND CHICAGO, ILL. — Chicago-based Transwestern Realty Finance Partners has closed on two loans totaling $13.5 million for an office property in Skokie and a multifamily property in Chicago. An $8.5 million mezzanine loan was secured for Old Orchard Towers, a 349,814-square-foot Class B office complex located in Skokie. The sponsor was Zeller Realty Group. Additionally, $5 million in mezzanine financing was arranged for MDA City Apartments, located at the corner of Lake and Wabash streets in Chicago. The former office building was repositioned in 2006 as a high-end, multifamily property. Terms of the two loans were not disclosed.
BUFFALO, N.Y. — The Rose Hill Group has arranged $6.6 million in permanent financing for a multi-tenant office building located on the waterfront in downtown Buffalo. The 139,844-square-foot project is part of the Waterfront Village Center, which overlooks the Erie Basin Marina/Lake Erie. Tenants include Travelers Insurance and M/E Engineering. Financing was arranged by Daniel Monte of the Rose Hill Group for the undisclosed borrower. Funding was provided by Delaware Investments, a correspondent life insurance company.
SAN MATEO, CALIF. — Transwestern Realty Finance Partners LLC has closed a $25 million mezzanine loan for San Mateo Executive Park, which is located off Highway 92 between Highway 101 and Interstate 280 in San Mateo. The five-building office park totals 261,000 square feet. Transwestern’s investment was made on behalf of Transwestern Mezzanine Realty Partners III LLC, a fully discretionary investment fund with more than $300 million in capital.
CHICAGO — Chicago-based companies Golub & Co. and Sterling Business Center have leased the 15th floor of 22 West Washington in Chicago to SKG Partners, which will use the space as the firm’s North American headquarters. The tenant will occupy 29,450 square feet of the new tower, which is under development by affiliates of Golub & Co. The length of the lease was for 9 years; J.F. McKinney & Associates assisted in negotiations.
HAMILTON TOWNSHIP, N.J. — The Fruscione Company has completed construction of 300 Clocktower Dr., a 64,750-square-foot office building in the Hamilton Clocktower Corporate Center in Hamilton Township. The new facility is the first building to be completed within the three-building, 27-acre office complex. Upon completion, the center will offer 172,000 square feet of office space. Milt Charbonneau of Colliers Houston has completed the first lease within the new building — an 18,000-square-foot lease by Princeton Healthcare Systems.
MEDFORD, MASS. — Wells Fargo has provided $25 million for the construction of greater Boston’s first precertified LEED Gold office building, 200 River’s Edge. The four-story facility will feature 115,700 square feet of space along the Malden River’s west bank in the Wellington area of Medford. Susan Leff of Wells Fargo originated the deal for the borrower, Preotle, Lane & Associates.
PLANO, TEXAS — Primera Cos. has broken ground on a Class A office building in Legacy Business Park, a master-planned development in Plano. The 99,450-square-foot, three-story office project is located at 5600 Tennyson Pkwy., less than a mile from Legacy Town Center. Myers & Crow Co. is developing the building, which is seeking LEED Silver certification. Gromatzky Dupree & Associates is providing architectural services, and McFadden & Miller is the general contractor. Legacy Texas Bank extended the construction financing. Trevor Franke of Peloton Real Estate Partners is handling leasing. Primera Tennyson Partners owns the project, which is scheduled for completion next March.
LAS VEGAS — CORE Construction~Nevada has completed the construction of Durango Village, a professional office park located at 6002 S. Durango Dr. in Las Vegas. Developed by Arizona-based SAXA, the project consists of 12 commercial office buildings totaling 91,763 square feet. Tenants can lease or purchase space from 1,200 to 29,000 square feet. Phoenix-based DFD CornoyerHedrick provided architectural services for the project.