Office

Surgery Partners Debuts New Surgery Center in Beverly Hills

by Nellie Day January 18, 2017

LOS ANGELES — Surgery Partners has opened a 12,000-square-foot surgical facility in Beverly Hills. The new facility is known as Specialty Surgical Center of Beverly Hills. It will specialize in ophthalmology. This is the company’s second surgical center within the Beverly Hills market. Specialty Surgical Center will occupy the ground floor at a multi-tenant medical office that sits adjacent to the Beverly Hills Triangle. Jon Gorczyca and Yarden Drimmer of Cushman & Wakefield represented Surgery Partners.

January 18, 2017

California Office Western

PDM Steel Service Centers Relocates From Stockton to Elk Grove

by Nellie Day January 18, 2017

ELK GROVE, CALIF. — PDM Steel Service Centers has relocated its office from Stockton to nearby Elk Grove. The steel supplier has leased 10,000 square feet at Laguna Gateway. Its new corporate headquarters is located at 9245 Laguna Springs Drive. The new lease brings the 72,000-square-foot building to full occupancy. The landlord is Jackson Properties Incorporated.

January 18, 2017

Loans New Jersey Northeast Office

New York Life Real Estate Investors Originates $146.6M Loan for Office Building in Jersey City

by Amy Works January 18, 2017

JERSEY CITY, N.J. — New York Life Real Estate Investors, on behalf of Dividend Capital Diversified Property Fund Inc., has originated a $146.6 million loan for an office building located at 3 Second St. in Jersey City. The floating-rate loan has an initial term of three years with two one-year extensions.

January 18, 2017

Office Texas

CSW Development Sells Office Property in Austin

by Amy Works January 18, 2017

AUSTIN, TEXAS — CSW Development has completed the disposition of an office property located at 2711 W. Anderson Lane in Austin. Paydar Properties Inc. acquired the two-story, 29,000-square-foot property for an undisclosed price. The buyer plans to redevelop the property into 27 Eleven, a mid-rise multifamily and mixed-use development in the near future. Scott LaMontagne and Michael Gonzalez of JLL represented the seller in the deal.

January 18, 2017

Office Texas

Colliers Brokers $13.6M Sale of Office Building in Plano

by Amy Works January 18, 2017

PLANO, TEXAS — Colliers International has arranged the sale of Parkway Commons, an office building located at 5068 W. Plano Parkway in Plano. CapRocq acquired the three-story building for $13.6 million. At the time of sale, the 101,289-square-foot property was 89 percent leased to a variety of tenants, including Farmers Insurance, Qualitest and Kenny’s Restaurant Group. John Bowles, Bruce Butler and Susan Gwin Burks of Colliers represented the undisclosed seller, while Kevin Huchingson and Isaac Smith of Colliers represented the buyer in the transaction.

January 18, 2017

Michigan Midwest Office

Westwood Net Lease Advisors Brokers $92.6M Sale of Office Building in Midland, Michigan

by Kristin Harlow January 18, 2017

MIDLAND, MICH. — Westwood Net Lease Advisors has brokered the sale of an office building in Midland, about 27 miles east of Mt. Pleasant, for $92.6 million. The building serves as the headquarters for Dow Chemical Co., a manufacturer of plastics, chemicals and agricultural products. David Clary of Stan Johnson Co. represented the seller, Wells Fargo. Vince Vatterott and Jason Simon of Westwood Net Lease Advisors represented the buyer, a Northeast-based real estate investor. The transaction was completed as a 1031 exchange.

January 18, 2017

Illinois Midwest Office

Transwestern Arranges $10M Sale of Office Building in Deerfield, Illinois

by Kristin Harlow January 18, 2017

DEERFIELD, ILL. — Transwestern has arranged the sale of a three-story office building in Deerfield for $10 million. The 120,000-square-foot building is located at 155 N. Pfingsten Road. The property is 90 percent leased by 12 tenants and is anchored by NCH Marketing Services. Gary Nussbaum, Michelle Monhaut and Paige Gunn represented the seller, Colony Realty Partners. Brad Nichol of Boxer Property led the transaction on Boxer’s behalf. The company plans to upgrade building systems and add on-site tenant amenities.

January 18, 2017

Georgia Office Southeast

Grover Corlew Acquires Office Portfolio in Metro Atlanta for $12.3M

by John Nelson January 18, 2017

ALPHARETTA, GA. — G&C Mansell Investors LLC, an affiliate of South Florida-based investment firm Grover Corlew, has purchased five office buildings within Mansell Court at Mansell Overlook in Alpharetta for $12.3 million. The portfolio originally sold in 2007 for $22 million. Totaling nearly 190,000 square feet, the office buildings were a combined 77 percent leased at the time of sale. The new ownership plans to invest $1 million in significant upgrades to the brick office buildings, which were constructed in 1987. Grover Corlew has awarded Heather Lamb of CBRE the leasing assignment for all five buildings.

January 18, 2017

Loans New Jersey Northeast Office

Cohen Financial Secures $42M Refinance Loan for Office Building in Newark

by Amy Works January 17, 2017

NEWARK, N.J. — Cohen Financial has closed a $42 million loan for the refinancing of Centre Market Building in downtown Newark. Built in the 1960s, the building features 393,343 square feet of office space. The U.S. Customs and Border Protection, U.S. Drug Enforcement Agency and U.S. Social Security Administration occupy 90 percent of the building. Dan Rosenberg and Matt Terpstra of Cohen Financial secured the fixed-rate, 10-year CMBS loan for the borrower, an affiliate of Kaufman Jacobs.

January 17, 2017

Maine Northeast Office

FD Stonewater to Acquire, Redevelop Office Facility in Augusta, Maine

by Amy Works January 17, 2017

AUGUSTA, MAINE — FD Stonewater has been awarded the exclusive rights to negotiate a 30-year lease contract with the State of Maine Bureau of General Services to acquire and redevelop the Maine Department of Transportation facility located at 109 Capitol St. in Augusta. Situated on 9.2 acres, the property features eight connecting buildings and other out-buildings. FD Stonewater plans to demolish the existing structures and construct an 89,000-square-foot facility for the Department of Health & Human Services. Construction is slated to begin in mid-2017. Alexandria, Va.-based HGS Architects and Maine-based Mark Mueller Architects are providing architectural services and Landry/French is serving as general contractor for the project.

January 17, 2017

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