REBusinessOnline

The Equitable Funds Acquires Two-Building Office Property in Schaumburg, Illinois

SCHAUMBURG, ILL. — The Equitable Funds LLC has acquired 1340-1350 Remington Road in Schaumburg for an undisclosed price. The company plans to combine the two-building, one-story office property with an additional asset, 1305-1375 Remington Road, and create a campus known as One Story Schaumburg. The newest buildings total roughly 48,000 square feet and were 30 percent leased at the time of acquisition.When combined with the earlier acquisition, One Story Schaumburg will total more than …

East West Partners Signs Three Leases for New Tenants to Join Crabtree Terrace in Raleigh

RALEIGH, N.C. — East West Partners has signed leases with two retail tenants and one office tenant at Crabtree Terrace, a 173,468-square-foot mixed-use development in Raleigh’s Crabtree Valley district. Hillman Duncan and John MacDonnell of JLL handle office leasing on behalf of the owner. CBRE is leading the retail leasing efforts.Located at 4509 Creedmoor Road, Crabtree Terrace includes 145,000 square feet of Class A office space and over 28,000 square feet of retail space. Opened in …

KDC to Develop Three New Office Buildings at CityLine in Metro Dallas Totaling 1.4 MSF

RICHARDSON, TEXAS — Developer KDC will build three new office buildings totaling approximately 1.4 million square feet at CityLine, a 204-acre mixed-use development located in the northeastern Dallas suburb of Richardson. Five CityLine will be an 18-story tower with 513,000 square feet, while Six CityLine will rise 13 stories and span 356,000 square feet. The third tower, Seven CityLine, will be a 15-story, 507,000-square-foot building. Dallas-based Corgan & Associates is designing the …

Invesco Real Estate Divests of 186,231 SF Office Property in Broomfield, Colorado for $59.1M

BROOMFIELD, COLO. — Invesco Real Estate has completed the disposition of 105 Edgeview, a Class A office asset in Broomfield. An undisclosed buyer acquired the property for $59.1 million.John Jugl and John Gustafson of Newmark represented the seller in the transaction.Completed in 2012, 105 Edgeview features 186,231 square feet of office space within Interlocken Advanced Technology Environment. The property is fully leased to eight tenants with Gogo Inc., a global aero-communications …

JLL Negotiates $35.5M Sale of Metro Boston Office Building

SOMERVILLE, MASS. — JLL has negotiated the $35.5 million sale of a 58,156-square-foot office building in the Boston suburb of Somerville. The three-story building was originally constructed in 1870 and was fully leased to FormLabs, a manufacturer of 3-D printing products and technology, at the time of sale. Coleman Benedict and Scott Carpenter of JLL represented the seller, funds advised by a subsidiary of Columbia Property Trust, in the transaction. The duo also procured the buyer, a …

JBG Smith, Landmark Partners Sell 500 L’Enfant Plaza Office Building in D.C. for $167M

WASHINGTON, D.C. — JBG Smith and Landmark Partners, an Ares Co, have sold 500 L’Enfant Plaza, a 215,000-square-foot office property in Washington, D.C. The buyer, which purchased the property for $167 million, was not disclosed. Jim Meisel and Matt Nicholson of JLL represented JBG Smith in the sale.Delivered in 2019 and designed by ZGF Architects, 500 L’Enfant Plaza is a LEED Gold-certified property. The plaza was 96 percent leased to seven tenants at the time of the sale. The …

Shorenstein Properties Buys 446,000 SF Fountainhead Office Plaza in Tempe, Arizona

TEMPE, ARIZ. — Shorenstein Properties has acquired Fountainhead Office Plaza, an office property located in Tempe. Terms of the transaction, including the name of the seller and acquisition price, were not released.Built in 2011, the two-building asset features 446,000 square feet of Class A office space, as well as a six-story standalone parking facility. The LEED Gold-certified six- and 10-story buildings offer floor plates averaging approximately 28,000 square feet. On-site amenities …

Columbia Pacific Advisors Arranges $14.3M Loan for Labor Temple Office Building in Seattle

SEATTLE — Columbia Pacific Advisors Bridge Lending, a platform within Columbia Pacific Advisors, has provided a $14.3 million bridge loan to Labor Temple, a landmark office building located at 2800 First Ave. in Seattle’s Belltown neighborhood.Originally built in 1942 and expanded in 1955, the building now totals 40,000 square feet and sits on half-block site with high-end offerings designed for modern office tenants. The property features a roof deck, courtyard, private meeting rooms …

Joint Venture Acquires Pacific Gas & Electric Campus in Downtown San Francisco, Plans $2.5B Redevelopment

SAN FRANCISCO — A joint venture between Hines and the National Pension Service of Korea (NPS) has acquired the historic Pacific Gas & Electric Co. (PG&E) campus in the South Financial District of downtown San Francisco. The purchase price was $800 million, according to The Wall Street Journal. The buyers plan to completely reimagine the campus with a $2.5 billion redevelopment project.The first of two office projects will consist of the restoration and renovation of a …

Trinity Partners Arranges Sale of One & Two Fairview Center in Charlotte’s SouthPark Area

CHARLOTTE, N.C. — Trinity Partners has arranged the sale of One & Two Fairview Center, a 182,841-square-foot, two-building office park in Charlotte’s SouthPark office submarket. The buyer was an entity affiliated with Taurus Investment Holdings, a Boston-based global private equity real estate firm. Dunn Mileham and David Morris of Trinity Partners handled the transaction on behalf of the seller, an affiliate of CapRidge Partners. The sales price was not disclosed.One & Two …

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