LEAWOOD, KAN. — First Federal Bank of Kansas City has relocated its headquarters to Park Place in Leawood. The bank, which is relocating from 6900 Executive Drive in Kansas City, will occupy 24,146 square feet. Jim Gates and Adam Tilton of JLL represented the tenant in the lease transaction. Most of the staff will have the option to work from home, but the new headquarters will feature a number of amenities for employees who choose to work in the new space, according to JLL. Helix Architecture designed Park Place’s interior space. KBS owns the office property.
GILBERT, ARIZ. — Parkview Financial has provided a $28 million construction loan to Scottsdale-based Verde Gilbert LLC for the development of Verde at Cooley Station, a lifestyle center located at 17201-17361 E. Williams Field Road in Gilbert. Verde Gilbert LLC is a joint venture between three development companies led by SB2 Communities. Upon completion, the 10-building, 96,000-square-foot property will offer 44,000 square feet of retail space, 13,000 square feet of office space, 31,000 square feet of restaurant space and 8,000 square feet of fitness space. Designed to be a restaurant-centric, mixed-used project, Verde at Cooley Station will offer 25 spaces for lease and The Green, a large open outdoor lawn area with a gazebo for musical events, fitness classes, movies in the park and other activities. Loan proceeds enabled the commencement of the first phase, which includes retail and a dozen dining concepts surrounded by The Green. Some of the stores are slated to open for business in late 2021, with a planned grand opening in first-quarter 2022. The second phase will include 24,000 square feet of retail space, 12,000 square feet of office space, 3,000 square feet of restaurant space and 8,000 square feet of fitness space. The second …
SEATTLE — Taylor Street Capital Partners has arranged $12 million in cash-out refinancing for a historic mixed-use office and retail property located in downtown Seattle. Nick Martinez and Chris Nuccio of Taylor Street Capital Partners negotiated the refinancing on behalf of the undisclosed ownership group and structured the loan to provide capital back for the sponsors to expand their business. The non-recourse loan includes a 10-year term with a 3.2 percent fixed rate and no prepayment penalty upon a sale.
PLANO, TEXAS — Newmark has brokered the sale of the Legacy R&D Portfolio, a collection of seven office and research and development buildings totaling 374,085 square feet in Plano. The single-story buildings were constructed on a combined 40 acres between 2006 and 2012 and were 85 percent leased at the time of sale. Gary Carr, Chris Murphy, John Alvarado, Robert Hill and Chase Tagen of Newmark represented the seller, Accesso, which will continue to manage the portfolio, in the transaction. The buyer was a fund controlled by New York-based DRA Advisors LLC.
CLIFTON, N.J. — New Jersey-based mortgage banking firm Progress Capital has arranged a $35.2 million loan for the refinancing of a 203,000-square-foot medical office building in the Northern New Jersey city of Clifton. Tenants at the property include Summit Medical Group, AECOM and SSB Realty, and building amenities include a cafeteria, fitness center and a conference room. Natixis Real Estate Capital provided the nonrecourse, interest-only loan. The borrower was ERCT Capital Group. Brad Domenico of Progress Capital placed the debt.
SOUTHFIELD, LIVONIA AND FARMINGTON HILLS, MICH. — Farbman Group has brokered the sale of a 480,000-square-foot office portfolio in Southeast Michigan for an undisclosed price. The portfolio includes Oak Hollow Gateway and Centrum Office Center in Southfield; Laurel Office Park in Livonia; and Drake Pointe Office Building in Farmington Hills. Bill Bubniak, Alis Manoogian and Mario Giglio III of Farbman represented the seller, Promanas. A New York-based real estate investment firm was the buyer.
TROY, MICH. — Technomics Inc. has leased 3,600 square feet of office space at the Twenty 75 Office Center in Troy. The consulting firm specializes in cost estimating and cost analysis for defense, civilian and energy clients. Technomics joins other area businesses such as Magna International, Siemens, Quicken Loans and Tyler Technologies. Robert Gagniuk and Marc Hames of Friedman Real Estate represented the undisclosed landlord in the lease transaction.
ALAMEDA, CALIF. — Newmark has arranged $99.2 million in financing to Invesco Advisers for the acquisition and conversion of a newly developed, six-building portfolio in Alameda. Ramsey Daya and Chris Moritz of Newmark’s Debt & Structured Finance team arranged the financing for the buyer. PGIM Real Estate placed the loan. Located at 1410-1430 Harbor Bay Road and 1955-2115 N. Loop Road, the six buildings feature 24- to 28-foot clear heights, dock-high and at-grade doors and ample power. Invesco plans to convert the 335,000-square-foot property into a state-of-the-art life sciences complex, including lab research, development and domestic good manufacturing practice (GMP) manufacturing.
GOODYEAR AND GLENDALE, ARIZ. — Kidder Mathews has arranged the sales of three medical office buildings located in Goodyear and Glendale for a total of $32.8 million. Michael Dupuy and Rachael Thompson of Kidder Mathews represented the undisclosed sellers in the transactions. The names of the buyers were not released. The transactions are the $7.6 million sale of the 20,235-square-foot Cornerstone Medical Center in Goodyear; the $10 million sale of the 35,893-square-foot Talavi Medical Plaza in Glendale; and the $15.2 million sale of the 52,013-square-foot Thunderbird Palms in Glendale.
HOUSTON — General contractor Harvey Builders will construct a 115,000-square-foot manufacturing and office facility in Houston. Designed by Powers Brown Architecture, the facility will be situated on an 8.3-acre site within the Houston Spaceport campus on the city’s southwest side. The project will be a build-to-suit for Hamilton Sundstrand, a subsidiary of Collins Aerospace, and is expected to be complete in summer 2022. Houston-based Griffin Partners has been tapped as the development manager for the project, which is expected to add about 250 new jobs to the local economy.