CARLSBAD, CALIF. — RF Darwin LP has purchased Darwin Court, a 52,260-square-foot office building located at 5935 Darwin Ct. in Carlsbad, for $15.25 million. The recently renovated property serves as the global headquarters for Reef, a leading surf brand. Dennis Visser and Mark Emerick of Grubb & Ellis|BRE Commercial represented the seller, Cruzan|Monroe, dba 5935 Darwin Court LLC, in the transaction; Greg Lewis, Bill Barnett and Doug Hogan of Cushman & Wakefield represented the buyer.
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ORLANDO, FLA. — A partnership between Orlando-based Tower Realty Partners and New York-based DRA Realty Advisors has acquired the Ocwen Building for $24.5 million. The 125,000-square-foot office building is located within the Central Florida Research Park in Orlando, and is fully leased on a long-term basis to Ocwen Financial Corp., which originally developed the building in 1999.
ROSEMONT, ILL. — Boston-based NewStar Financial has provided $34.15 million in non-recourse, first-mortgage financing for Northwest Plaza, a 328,000-square-foot office property located in Rosemont. The property consists of two eight-story buildings with a retail concourse. The loan will refinance existing debt on the property, as well as provide additional capital to continue the property’s leasing strategy and complete the addition of a TGI Friday’s restaurant on a pad site. The loan carries a 3-year term with two 1-year extension options. Draper and Kramer served as financial advisor to the borrower, Fulcrum NWP, a single-asset entity managed by Fulcrum Asset Advisors.
NEW YORK CITY — The Hakimian Organization and its partners, Peykar Brothers Realty and Gorjian Properties, have leased 636 Eleventh Avenue in Manhattan, New York City, to Ogilvy & Mather. The international advertising company will use the 564,800-square-foot building as its new worldwide headquarters. Genslar Architects has been hired to aid in converting the 11-story, Class B office building into Class A space. Mitchell Konsker, Paul Glickman and Jack Cohen of Cushman & Wakefield represented the owners, and Gregory Tosko and Casey Hirschhorn of CB Richard Ellis represented Ogilvy & Mather in the lease transaction.
HOUSTON — Chicago-based Wrightwood Capital has provided $42.1 million in financing to Cameron Management, a real estate services group, in the acquisition of a Houston office building. The property, located at 1001 McKinney St., is a historically designated building with over 372,000 square feet of office space. The financing for the 36-month loan was sourced through Susan Hill of Holliday Fenoglio Fowler.
SAN DIEGO — Jamison Properties has acquired The Chamber Building, a 23-story, 177-725-square-foot office tower in downtown San Diego, from Barker Pacific Group and PNC Realty Advisors for $29.25 million. Located at 110 West C St. and built in 1963, the property is 86 percent leased by major tenants including Legal Reprographics, Alternate Public Defender, First Choice Executive Suites and law firm Stock Stephens. Louay Alsadek, Kevin Shannon, Ken White, Evan August and Scott Schumacher of CB Richard Ellis, along with Tim Cowden of Colliers International, represented both parties in the transaction.
CARLSBAD, CALIF. — La Salle has purchased Ocean Ridge, a Class A office property located at 5796 Armada Dr. in Carlsbad, for $27.5 million. Built in 2006 and 69 percent occupied, the three-story property offers 74,891 square feet of office space with 25,000-square-foot floor plates and state-of-the-art energy management. Lowe Enterprises Real Estate Group developed the property, which was designed by Brian Paul & Associates. Ron Jacobson and Bob Safai of Madison Partners represented the seller, Palomar Lowe, in the transaction.
ST. PAUL, MINN., AND COLUMBUS, OHIO — Meritex Enterprises has sold two properties located in Minnesota and Ohio for a total of $40.85 million. In St. Paul, the company disposed of a 250,695-square-foot office building located at 444 Lafayette Rd. for $36 million. Meritex had recently completed renovations to the property as part of a 10-year lease renewal with the Minnesota Department of Human Services. Meritex will also be providing property management services for the new owner, which was undisclosed. In Columbus, Meritex disposed of a 147,000-square-foot bulk distribution warehouse located at 1585 Westbelt Dr. for $ 4.85 million. The building is fully leased to Victory Packaging. The property was acquired by VP Partners.
RICHARDSON, TEXAS — Texas-based McCarthy Building Cos. has begun construction on the $149 million office complex that will serve as Blue Cross Blue Shield of Texas’ headquarters in Richardson. The project is being developed by KDC. The 1.05 million-square-foot office complex, which is located on 34 acres in the Gatalyn Park area, will include a 15- and seven-story office tower and a 3,500 car parking structure. The project is scheduled for completion in the fourth quarter of 2009.
DAYTON, OHIO — Grubb & Ellis Healthcare REIT has acquired Park Place Office Park, a three-building medical office park located near Kettering Medical Center in Dayton. The three buildings, Park Place I, II and III, are situated on 8.5 acres and total approximately 133,000 square feet. The property includes a landscaped common area with a pond, water features, benches and walking paths. The office park is 87 percent leased to tenants including Premier Integrated Medical Association, Lincoln Park Surgery Center and Kettering Breast Evaluation. The property was acquired by Grubb & Ellis from Fraze Enterprises, which was represented by Mike Wenzler. The acquisition price was not disclosed.