Office

BRENTWOOD, TENN. — Avison Young has brokered the $26 million sale of Gateway Plaza I and Maryland Park Center in Brentwood, a suburb of Nashville. Gateway Plaza I is a three-story, 82,848-square-foot office building located at 5409 Maryland Way. The property was fully leased at the time of sale to tenants such as Foundations Recovery Network, Henderson Financial Group, The Layton Cos. and Right Management. Maryland Park Center is a three-story, 43,696-square-foot office building located at 115 East Park Drive. The building was fully leased at the time of sale to tenants such as Vulcan Construction Materials, Nashville Sleep Medicine, Maxim Healthcare Services and CareSpot. Don Albright, Lisa Maki, Mike Jacobs and Ashley Albright of Avison Young represented the seller, Sun Life Assurance Co. of Canada. The acquisition is the first purchase in Brentwood for the buyer, Albany Road Real Estate Partners.

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WEST PALM BEACH, FLA. — NXT Capital has provided an $18.5 million acquisition loan for Centrepark West, a four-building office park totaling 175,000 square feet in West Palm Beach. The site is bordered by I-95 to the east and Palm Beach International Airport to the west. Christian Lee and Amy Julian of CBRE’s Miami office arranged the loan through NXT Capital on behalf of the undisclosed borrower.

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SCIO TOWNSHIP, MICH. — Signature Associates has negotiated the sale of 104,590-square-foot office building located at 7322 Newman Blvd. in Scio Township, west of Ann Arbor. The sales price was not disclosed. The building was vacant at closing. The purchaser, Ari-El Enterprises, has hired Signature Associates to begin securing tenants for the complex. John Fricke of Signature Associates represented both the buyer and the seller, Thomsen Reuters.

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HOUSTON AND SPRING BRANCH, TEXAS — LMI Capital has arranged acquisition and refinance loans for three separate properties in the Greater Houston area. Brandon Brown of LMI originated a five-year, $5.2 million, fixed-rate loan for a 90-unit multifamily asset in Spring Branch; Kurt Dennis of LMI originated a five-year, fixed-rate loan with flexible prepayment for the acquisition of a 20,000-square-foot office building in Houston’s Kingwood submarket; and Jamie Mullin of LMI placed a 10-year, fixed-rate, $7.5 million loan for a 250-unit asset in Houston’s Braeswood submarket.

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HOUSTON — NAI Partners has arranged the lease of an industrial office and warehouse building located at 5808 Hamblen Road within Logistics Park at World Houston in Houston. Winchester Source Technology LLC will occupy the 12,000-square-foot speculative building. John Ferruzzo and Nick Peterson of NAI Partners represented the landlord, Adkisson Development, while John Ginder of Caldwell Cos. represented the tenant in the transaction.

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HOUSTON — Lee & Associates has brokered the lease of an 8,000-square-foot industrial and office building at 3023 Farrell Road in Houston. Eurochem International Corp. will occupy the single-tenant facility. Reed Vestal, Cameron Hicks and Taylor Schmidt of Lee & Associates represented the tenant, while Mike Spears and Robert Noack, also of Lee & Associates, represented the undisclosed landlord in the deal.

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LAKE MARY, FLA. — Parmenter Realty Partners has received $84 million in financing to partially fund the company’s acquisition of Primera Towers I–V, a five-building office park in Lake Mary. The 772,000-square-foot park is located at 605, 610 and 615 Crescent Executive Court and 255 and 300 Primera Blvd. just north of Orlando. Holliday Fenoglio Fowler (HFF) arranged the financing. Primera Towers is 89 percent leased to tenants like Blue Cross & Blue Shield, Liberty Mutual, Paylocity, D+H, Dixon Ticonderoga and HNTB. The park features on-site fitness centers and a café with patio seating. The suburban mid-rise buildings were developed between 1997 and 2000 immediately east of Interstate 4. HFF’s Ed Coco and Matt Casey worked on behalf of Parmenter Realty Partners investment fund and an institutional equity partner to secure the funds through JPMorgan Chase Bank NA. Parmenter acquired Primera Towers for $130 million. The seller was a joint venture between Banyan Street Capital, Oaktree Capital Management and Balandis AG. Mike Davis, Michael Lerner and Rick Brugge of Cushman & Wakefield represented the JV in the sales transaction. This sale was the first time in the park’s history that ownership has ever been consolidated. Parmenter plans to expand the …

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BOSTON AND CAMBRIDGE, MASS. — Investcorp has expanded its U.S. real estate portfolio with $250 million in acquisitions in Boston and Denver. The five investments include 20 buildings totaling 1.8 million square feet of office, industrial, flex and laboratory space. The company’s Boston acquisitions include the four-building Boston Metro Industrial, a 900,000-square-foot development in Boston that is 95 percent leased, and Blackstone Science Square, a 99 percent-leased, 76,038-square-foot office and laboratory property in Cambridge.

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NEW YORK CITY — Taconic Investment Partners, in partnership with TH Real Estate and Squire Investment LLC, has acquired a commercial building located at 817 Broadway in Manhattan’s Greenwich Village. The partnership acquired the 14-story, 140,000-square-foot property in an off-market transaction for $109 million. Built in 1900, the property was designed by George B. Post. Mesa West Capital provided the mortgage financing for the acquisition and redevelopment of the property. The partnership plans to reposition the building into a Class A institutional property.

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HOUSTON — Thor Equities has topped off the 13-story office tower at Kirby Collection, a 1 million-square-foot mixed-use development located in Houston’s Upper Kirby district. The project’s 210,000-square-foot, Class A office building will feature two levels of retail space totaling 65,000 square feet. The development will also feature a 25-story, 385,000-square-foot residential tower with 199 apartments, including seven two-story townhomes and seven two-story loft spaces featuring private yards. E.E. Reed Construction is the general contractor for Kirby Collection, which is slated for completion in 2017. Richard Keating Architecture is the design architect, Dianna Wong Architecture + Design is the interior designer and Houston-based Kirksey is the architect of record. Walter P Moore is the structural engineer, and Houston-based WYLIE is the MEP engineer.

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