AUSTIN, TEXAS — Peloton Commercial Real Estate has secured a pair of office leases totaling 18,370 square feet within Ladera Bend, a 158,407-square-foot office development located at 7300 Ranch Road 2222 in Austin. North Carolina-based staffing firm Orion ICS LLC leased 11,193 square feet and San Antonio-based software firm Triple Aim Ventures LLC leased 7,177 square feet. Matt Frizzell and Brian Liverman of Peloton represented the landlord in both lease negotiations. Doug Brock of Newmark Knight Frank and Zach Ellis of Colliers International represented Orion ICS and Triple Aim Ventures, respectively.
ATLANTA — When it comes to creating a “connected Atlanta,” experts say the foundation is in building a connected community. At a Nov. 2 luncheon hosted by the Atlanta chapter of Commercial Real Estate Women (CREW Atlanta), representatives from Atlanta’s local transit authority, MARTA, and Dallas-based development firm KDC highlighted projects around the city all centered around a common theme: mass transit. “MARTA has five transit-oriented development (TOD) projects in various stages of development along the north and east rail lines,” said Debbie Frank, senior development project manager in MARTA’s office of TOD and Real Estate. “These developments are vibrant, pedestrian-friendly and generally integrated within our spaces.” The projects are part of MARTA’s larger goal to increase ridership, generate revenue and support both local community development and regional economic development. Each project will utilize underused parking lots for new commercial and residential development, which will include apartments, office space and retail. “We want to take a different approach to parking by reducing the number of parking spaces provided in our TOD projects,” said Frank. “A foundational principle of TOD is one that reflects the replacement of some car trips. Not all, but some, by taking the train, walking or biking.” …
SAN DIEGO — City Office REIT has received a $47 million loan to acquire Mission City Corporate Center, a 290,000-square-foot office portfolio in the San Diego submarket of Mission Valley. The four-building portfolio is located at 2355, 2365, 2375 and 2385 Northside Drive. The portfolio is 87 percent leased to tenants like Eplica Corporate Solutions, Mission Home Health, Midland Credit Management, State of California Water Resources and Innova Systems International. HFF’s Zack Holderman and Tim Wright arranged the 10-year, fixed-rate acquisition loan through one of the firm’s life insurance company lenders.
PORTLAND, ORE. — The first two tenants have been announced at Field Office, a $100 million office project being developed in Portland’s Frontside district. The two-building office and retail space will house Adpearance and The Children’s Garden when it opens in early 2018. Both tenants are local companies. The full-service digital marketing agency will occupy 30,000 square feet in Field Office’s West building. The early childhood learning center will be situated on the ground floor of the same building. National Real Estate Advisors is developing Field Office.
BALTIMORE — Cushman & Wakefield has arranged the $32.8 million sale of 120 E. Baltimore St., a 25-story office tower in Baltimore. Graham Savage and Nicole Keelty of Cushman & Wakefield arranged the transaction on behalf of the buyer, Boston-based Grander Capital Partners. The seller was not disclosed. At the time of sale, the office building was 75 percent leased to SunTrust Bank, State of Maryland Pension System and the Baltimore City State Attorney’s Office.
NEW YORK — The Moinian Group has broken ground on 3 Hudson Boulevard, a planned 53-story, 2 million-square-foot office tower located within the 60-acre Hudson Yards district on Manhattan’s far west side. The New York-based developer, which owns, manages and has in development more than 4 million square feet of commercial and residential real estate holdings throughout Manhattan, expects to deliver the Class A building by 2021. The property will occupy an entire block between 11th Avenue and Hudson Boulevard Park from West 34th to West 35th streets. The building offers convenient access to the No. 7 subway extension. The Metropolitan Transit Authority (MTA) recently completed infrastructural work on that site, opening the door for construction to begin. Designed by Dan Kaplan of architecture firm FXFOWLE, the property will feature a multi-tiered lobby anchored by 50,000-square-foot floorplates, as well as 12,600 square feet of retail space with multiple entrances. Individual floors within the building will average about 40,000 square feet each, and feature 10-foot ceiling heights, 5-foot window modules and column-free corners that allow for more open spaces. Floor-to-ceiling glass arrangements will provide for ample natural light throughout the building. The rooftop will offer an entertainment space, outdoor terrace and …
CLIFTON, N.J. — NAI James E. Hanson has arranged the sale of a 10,876-square-foot office space located at 1030 Clifton Ave. in Clifton. Realty Investment Associates sold the property for an undisclosed price. The space is located within a two-story, 21,734-square-foot office building. The undisclosed buyer acquired the entire second floor on a condominium basis and plans to renovate, upgrade and occupy the space as a medical office. Josh Levering and Nicholas DePaolera of NAI Hanson represented the seller in the transaction.
MORRIS TOWNSHIP, N.J. — Vision Real Estate Partners, along with a partner firm, has purchased 64 acres of the former Honeywell headquarters campus on Columbia Road in Morris Township for an undisclosed price. The site is approved for office, research and laboratory development, and Vision plans to develop up to 715,000 square feet of premier, build-to-suit corporate headquarters space at the site. Vision Real Estate Partners will oversee the development of the project on Columbia Road.
FOOTHILL RANCH, CALIF. — An affiliate of Menlo Equities LLC has received $39 million in financing for Towne Centre, a 292,271-square-foot office campus in the South Orange County submarket of Foothill Ranch. The Class A campus is located at 27042, 27051 and 27121 Towne Centre Drive. The property was renovated in 2016 and 2016. It is 77 percent leased to Ossur America, Rockwell Automation, Edward Jones, AVST, First National Capital, Fujitsu, Eagle Community Credit Union and Cox Communications. HFF’s Kevin MacKenzie, Greg Brown, Jamie Kline and Nick Lench arranged the five-year, floating-rate loan. Wells Fargo Bank provided the capital.
TEMPE, ARIZ. — DP Electric has purchased a 34,370-square-foot office building in Tempe for $3.4 million. The building is located at 2210 S. Roosevelt St. The space will serve as the firm’s new corporate headquarters. The office will be renovated to house the company’s entire staff under one roof. Renovations will include an open-concept floor plan with offices flanking work stations, and many areas for conferences and collaboration. It will also include an employee gym, locker rooms, and a café and event space that open to the outdoors with an adjacent large patio for entertaining. DP Electric has been at its current Tempe location since 2005, and will begin operating out of the new corporate headquarters by summer 2018. Kurt Saulnier of Lee & Associates Arizona represented the electrical contracting firm while Eric Jones of Commercial Properties Incorporated represented the seller, Robert Coleman Trust.