Office

Marcus & Millichap Negotiates $16.5M Sale of Office Building in Lansing, Michigan

by Kristin Harlow April 14, 2017

LANSING, MICH. — Marcus & Millichap has negotiated the sale of One Michigan Avenue in Lansing for $16.5 million. The 10-story, 154,000-square-foot office building is located at the southeast corner of Washington Square and Ottawa Street. The building was constructed in 1983. At the time of sale, One Michigan Avenue was 98 percent occupied by law firms, a bank, an insurance company and government tenants. John Godwin and Richard O’Connor of Marcus & Millichap represented the seller, a Lansing-based partnership. Godwin procured the buyer, a regional investment group.

April 14, 2017

Northeast Office Pennsylvania

Colliers Negotiates $1.2M Sale of Former BB&T Bank Branch in Whitehall, Pennsylvania

by Haisten Willis April 14, 2017

WHITEHALL, PA. — Derek Zerfass of Colliers International’s Allentown office represented BB&T in the $1.2 million sale of a 3,061-square-foot former bank branch building at 2545 Mickley Ave. in Whitehall. The building will be demolished to make way for a Wendy’s restaurant. Steve Clipman of ROCK Commercial Real Estate represented the buyer.

April 14, 2017

California Loans Office Western

Fident Capital Provides $9.5M Loan to Lancaster DMV Project

by Nellie Day April 13, 2017

LANCASTER, CALIF. — Fident Capital has provided a $9.5 million permanent loan for the recently constructed Department of Motor Vehicles (DMV) in Lancaster. The 29,000-square-foot facility is located at 721 W. Ave L6. The State of California signed a 20-year lease for the space once the loan was closed. Magnon Cos. developed the property.

April 13, 2017

Arizona Office Western

Central FSB Rents 60,103 SF at Warner Courtyards Flex Property in Tempe

by Nellie Day April 13, 2017

TEMPE, ARIZ. — Warner Courtyards, a 113,586-square-foot flex office building in Tempe, is now fully leased due to Cenlar FSB’s recent agreement to occupy 60,103 square feet. The building is located at 301 W. Warner Road. Other tenants to lease space at the property include CEC Educational Services and Yokowo American Corp. Cenlar, a loan servicing provider, originally occupied the building in August 2016 before expanding to its larger space. NGKF’s Jerry Jacobs represented Cenlar. Matt Nebeker of Cushman & Wakefield represented the landlord, Hannay Realty Advisors, in all three lease transactions.

April 13, 2017

Industrial Loans Massachusetts Mixed-Use Northeast Office Retail

Transwestern Secures Financing for Boston Celtics Practice Facility in Brighton, Mass.

by Haisten Willis April 13, 2017

BRIGHTON, MASS. — Transwestern Consulting Group (TCG) has arranged a construction and permanent financing loan on behalf of NB Development Group for 40 Guest St. in Brighton. According to public records, the loan amount was $76 million. TCG’s Chris Skeffington and Andrew Stone, along with NB Development’s Jim Halliday and Kevin Doyle, arranged the loan with East Boston Savings Bank. Part of the Boston Landing mixed-use development, 40 Guest St. is a planned 160,000-square-foot facility that will house the Boston Celtics’ new training and practice facility known as the Auerbach Center at New Balance World Headquarters. The project also includes two floors of Class A laboratory and office space totaling 83,500 square feet, plus 5,700 square feet of retail space. The project broke ground in November 2016, with completion expected in mid-2018. TCG provides leasing and property management services for Boston Landing.

April 13, 2017

Loans New York Northeast Office

Natixis Provides $250M Refinancing Loan for Office Property in NYC

by Haisten Willis April 13, 2017

NEW YORK CITY — Natixis has provided a $250 million first mortgage CMBS loan to JEMB Realty for the refinancing of 75 Broad St. in Manhattan. JEMB Realty purchased the office tower in 1999, and has renovated it into a property geared toward high-tech tenants. More than $50 million in improvements have been made to the 34-story, 650,000-square-foot property in recent years. Steve Kohn and Alex Hernandez of Cushman & Wakefield advised the borrower in the transaction.

April 13, 2017

Office Texas

Colliers Arranges Sale of 59,792 SF Office Complex in Richardson, Texas

by Taylor Williams April 13, 2017

RICHARDSON, TEXAS — Colliers International Inc. has arranged the sale of University Centre, a two-building, 59,792-square-foot office complex located at 1701 and 1801 Gateway Blvd. in the Dallas-Fort Worth metro of Richardson. John Bowles, Bruce Butler and Susan Gwin Burks of Colliers represented the buyers, Symphony Gateway LLC and CIG Retail Properties Inc., in the transaction. Dallas UNC LLC sold the property, which was 90 percent leased at the time of sale.

April 13, 2017

Office Texas

KP Engineering to Build 25,000 SF Office Building in Tyler, Texas

by Taylor Williams April 13, 2017

TYLER, TEXAS — KP Engineering, a Texas-based firm specializing in chemical and energy solutions, has released details of its newest project, a 25,000-square-foot office building. The property will be located at 5555 Old Jacksonville Highway in Tyler, a city approximately 100 miles east of Dallas. Construction is expected to begin this month.

April 13, 2017

California Office Western

Affirm Leases 86,225 SF of Office Space in San Francisco

by Nellie Day April 12, 2017

SAN FRANCISCO — Financial technology company Affirm has signed an eight-year lease for 86,225 square feet of office space in San Francisco. The space is located at 650 California St. Affirm will occupy floors eight through 12, as well as the building’s annex. The company is scheduled to relocate its headquarters from nearby 633 Folsom St. this August. Co-working company WeWork also recently leased space at this property. The landlord is Columbia Property Trust.

April 12, 2017

Office Oregon Western

The PIA Agency Rents Creative Office Space at the New Market Theater in Portland

by Nellie Day April 12, 2017

PORTLAND, ORE. — The PIA Agency has leased 9,380 square feet of creative office space at the New Market Theater in Portland. The theater is located at 115 S.W. Ash St. in the Old Town-Chinatown historic district. The New Market Theater was built as a marketplace and 1,200-seat theater in two phases in 1872 and 1875. It was modeled after a building in Venice, Italy. The space was converted into creative office after it was purchased by Swift Real Estate Partners in 2015. Jennifer Medak of Colliers International represented PIA, a creative content agency. CBRE’s Trevor Kafoury, Michelle Franceschi and Autumn Brice represented Swift.

April 12, 2017

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