FORT COLLINS, COLO. — Cress Capital has purchased a 500,000-square-foot office and flex industrial portfolio in Fort Collins. The property is known as the Prospect Portfolio. It was built between 1984 and 2004. Prospect Portfolio is situated near the intersection of Prospect and Timberline, one mile west of I-25.
WALTHAM, MASS. — Blackstone Mortgage Trust has provided $135 million in financing for 830 and 828 Winter St., an existing lab building and a planned lab facility in the Boston suburb of Waltham. HFF worked on behalf of the borrower, King Street Properties, in securing the financing through Blackstone. Loan proceeds will be used to refinance 830 Winter St., which spans 185,000 square feet, and to construct 828 Winter St. Completed in 2001, 828 Winter St. is home to tenants including Praecis Pharmaceuticals, ImmunoGen, GlaxoSmithKline and Histogenics Corp. The new property at 828 Winter St. will include 144,910 square feet across three stories along with a four-level parking garage. King Street broke ground on the project in October 2016 and is planning for a delivery date of July 2018. The HFF debt placement team representing the borrower included Greg LaBine and Porter Terry.
CONSHOHOCKEN, PA. — Keystone Property Group has received zoning approvals for the development of SORA West a transit-oriented mixed-use development in the Philadelphia suburb of Conshohocken. Upon completion, SORA West will include a central plaza surrounded by a 250,000-square-foot office building, retail and dining space, a 171-key hotel, the existing Conshohocken Firehouse and a 950-space parking structure. The project will be located adjacent to the Conshohocken SEPTA train station, near Route 76 and Route 476. Keystone is now in the process of finalizing the plans and pursuing land development approvals. In addition to office, retail, hotel and community uses, the developer is assessing the viability of adding a residential component to the property. Keystone is headquartered in SORA East, which is located one block away from SORA West.
BOSTON — WS Development has hired architecture firm OMA to design a mixed-use project located at 88 Seaport Blvd. in Boston. The project, located in Boston’s Seaport District, is OMA’s first commission in the city of Boston. OMA’s Shohei Shigematsu will lead the design efforts at 88 Seaport, which upon completion will include nearly 425,000 square feet of office space, 60,000 square feet of retail on the first two floors and 5,000 square feet of civic/cultural use. Construction is slated to begin in 2018 and finish in 2020.
DALLAS — CBRE has brokered the sale of Parkway Office Center, a 229,466-square-foot office complex located at 14180 N. Dallas Parkway in Dallas. The Class A property, which was 90 percent leased at the time of sale to tenants such as Gulf Coast Western and Capital Senior Living, consists of two nine-story buildings and a multi-level parking garage. Gary Carr, John Alvarado, Eric Mackey and Robert Hill of CBRE represented the seller, KBS Realty, which sold the property to tech firm Apex Pacific Partners for an undisclosed price.
DALLAS — JLL has secured a 42,989-square-foot office lease for payroll and HR firm BenefitMall as the company relocates its headquarters to Hidden Grove at 12404 Central, a four-story, 231,590-square-foot office property in north Dallas. Jeff Eckert, James Esquivel and Ahnie Gampper of JLL represented the landlord, Red River Asset Management, in the transaction. BenefitMall is the third company to relocate its headquarters to the property in the last nine months, following Latin restaurant chain Pollo Campero and Dallas-based entertainment firm Studio Movie Grill.
ANAHEIM, CALIF. — A joint venture between Mariner Real Estate Management and PRES Cos. has purchased a 191,556-square-foot office building in downtown Anaheim for $58.9 million. St. Joseph Health System fully occupies the asset. The building is located at 200 W. Center St. Promenade. It was built in 1992 and renovated in 2015. St. Joseph maintains a long-term lease at the property that still has 10 years left. NGKF’s David Milestone and Brett Green represented the buyers. The same firm’s Kevin Shannon, Paul Jones, Ken White and Blake Bokosk represented the undisclosed seller.
ATLANTA — Hines and Invesco Real Estate have formed a joint venture to develop two office projects within Atlantic Station, a 138-acre mixed-use development in Midtown Atlanta. The projects include T3 West Midtown, a 200,000-square-foot heavy timber office building, and Atlantic Yards, a two-building development spanning 500,000 square feet. Hines will work with Hartshorne Plunkard Architecture as the design architect for both T3 West Midtown and Atlantic Yards. DLR Group will be the architect of record for T3 West Midtown, and Wakefield Beasley & Associates will be the architect of record for Atlantic Yards. The project’s amenities will include fitness, dining, rooftop terraces, bike storage and collaboration areas, in addition to the 550,000-square-foot retail village of Atlantic Station.
SUNRISE, FLA. — Cushman & Wakefield has arranged the $9.3 million sale of Executive University Courts, a 97,125-square-foot office campus in Broward County. Built in 1987, the six-building, two-story development is located on 5.9 acres at 4300 N. University Drive in Sunrise. Executive University Courts was 84.1 percent leased at the time of sale to tenants such as Strax Rejuvination, Optimum Education Group and Authorized Recovery. Dominic Montazemi, Greg Miller and Scott O’Donnell of Cushman & Wakefield represented the seller, Kas University LLC, in the transaction. MYP Executive LLC purchased the asset for about $96 per square foot.
BUFFALO GROVE, ILL. — Running Away Enterprises LLC has extended and expanded its office lease at 901 Corporate Grove Road in Buffalo Grove. Starting June 1, the race event management and multisport retail company will occupy the entire 72,600-square-foot building. Matthew Lewandowski and Mandy Lewandowski of Darwin Realty represented the undisclosed landlord in the lease transaction.