Office

Amity University Buys 170-Acre University Campus in New York for $22.4M

by Amy Works September 29, 2016

OAKDALE, N.Y. — Amity University, a non-profit international educational organization, has acquired St. John’s University’s 170-acre campus, located at 500 Montauk Highway in Oakdale for $22.4 million. The campus includes 11 buildings totaling 260,000 square feet. The acquisition enables the seller, St. John’s, to continue offering its existing academic programs under a lease agreement through June 2017 as Amity University assumes control of the property immediately. Helen Hwang and Karen Wiedenmann, formerly of Cushman & Wakefield, along with Andrew Merin, David Bernhaut, Gary Gabriel, Brian Whitmer, Ryan Dowd and David Pennetta of Cushman’s Metropolitan Area Capital Markets group, represented St. John’s in the transaction.

September 29, 2016

New York Northeast Office

Tribeca Associates Plans to Reposition the 477,000 SF Office Tower in Manhattan

by Amy Works September 29, 2016

NEW YORK CITY — Tribeca Associates plans to reposition 30 Broad Street, a 47-story office tower located in Manhattan’s Financial District, which the company purchased in April. The 477,000-square-foot building will undergo an infrastructure modernization and renovation to suit the needs of today’s tenants. Additionally, office spaces will be updated with new fixtures and fittings as part of the prebuilt program as they become vacant. The lobby will be revitalized with a custom light installation, contemporary artwork by Annica Cuppetelli and Cristobal Mendoza, and an expanded coffee bar. Building amenities will also be added in the central amenities suite. The repositioned building will offer full-floor branding opportunities for tenants that start at 5,881 square feet. Andrew Peretz, Hal Stein, David Malawer, Courtney Adham and Daniel Appel of Newmark Grubb Knight Frank are the leasing agents for the property.

September 29, 2016

New Jersey Northeast Office

CBRE Arranges $19.7M Sale of 207,730 SF Office Building in Upper Saddle River, N.J.

by Amy Works September 29, 2016

UPPER SADDLE RIVER, N.J. — CBRE has brokered the sale of 10 Mountainview, an office building located in Upper Saddle River. Mack-Cali Realty Corp. sold the property to Moshe Gold, on behalf of a private investment group, for $19.7 million. At the time of sale, the 207,730-square-foot building was 67 percent leased to a variety of tenants, including Sherwin Williams and Stryker. Jeffrey Dunne, Kevin Welsh and Brian Schulz of CBRE Institutional Properties, in collaboration with Jeffrey Babikian of CBRE’s Saddle Brook, N.J., office, represented the seller and procured the buyer in the deal.

September 29, 2016

Loans New York Northeast Office

NorthMarq Secures $3M Refinance for Office Property in Staten Island

by Amy Works September 29, 2016

NEW YORK CITY — NorthMarq Capital has secured $3 million in refinancing for an office property located at 1139 Hylan Blvd. in Staten Island. Charles Cotsalas and Robert Delitsky of NorthMarq arranged the loan, which features a 10-year term and a 25-year amortization schedule, through a community bank. The property features 28,000 square feet of office space.

September 29, 2016

Illinois Midwest Office

Goettsch Partners, Clayco Open 783,800 SF Zurich North American Headquarters in Suburban Chicago

by Amy Works September 29, 2016

SCHAUMBURG, ILL. — Architect Goettsch Partners and developer Clayco have opened the new North American headquarters of Swiss-based Zurich Insurance Group. Located in Schaumburg, the 783,800-square-foot office building, a large build-to-suit project, will house nearly 3,000 employees and contractors. Designed with an emphasis on communication, collaboration and wellness, the building recently received LEED Platinum certification. Additional project members include JLL, CannonDesign, WSP/Halvorson and Partners, Hoerr Schaudt Landscape Architects and V3 Cos.

September 29, 2016

Healthcare Office Texas

Mycon General Contractors Completes Construction of Freestanding Emergency Room in Metro Dallas

by Haisten Willis September 29, 2016

ROWLETT, TEXAS — Mycon General Contractors has completed construction of the First Choice Emergency Room (FCER), located at 3301 Lakeview Parkway on a 0.8-acre tract in the Dallas suburb of Rowlett. FCER is a network of independent freestanding emergency rooms, and is an Adeptus Health company. The 6,931-square-foot facility houses diagnostic and radiology suites, including CT scanners, ultrasound and digital X-rays, exam rooms, a nurse’s station and laboratory. The project team includes real estate developer PM Realty Group and architect GSR Andrade Architects. Metropolitan Capital Advisors arranged $5.1 million in construction financing through Happy State Bank. FCER in Rowlett officially opened last month.

September 29, 2016

North Carolina Office Southeast

CBRE Brokers $83.5M Sale of Trophy Office Tower in Downtown Raleigh

by John Nelson September 29, 2016

RALEIGH, N.C. — CBRE has brokered the sale of Charter Square, a 243,106-square-foot, Class A office tower located at 555 Fayetteville St. in downtown Raleigh. Highwoods Properties Inc. purchased the building from the seller, a joint venture between Dominion Realty Partners and a global real estate investment manager. The sales price was undisclosed, but the Triangle Business Journal reports that Highwoods plans to invest $83.5 million in the acquisition, including $5.1 million in capital improvements. The office building opened in June 2015 and was certified LEED Platinum earlier this year. The office building was 70 percent leased at the time of sale to 14 tenants, including three ground-floor restaurants: b.good, Living Kitchen and The Haymaker.

September 29, 2016

Arizona Office Western

Alvarado Realty Buys McCormick Ranch Office Building Near Phoenix for $7.7M

by Nellie Day September 28, 2016

SCOTTSDALE — Alvarado Realty has purchased a 50,789-square-foot office building in the master-planned community of McCormick Ranch for $7.7 million. The building is located at 8700 E. Via de Ventura within the Phoenix suburb of Scottsdale. The space is 92.6 percent occupied. It was built in 1986. Bob Buckley, Tracy Cartledge, Steve Lindley and Ben Geelan of Cushman & Wakefield represented the seller, TA Realty, in this transaction.

September 28, 2016

Illinois Industrial Midwest Office

Darwin Realty Negotiates Sale of 53,289 SF Office/Industrial Building in Buffalo Grove, Illinois

by Amy Works September 28, 2016

BUFFALO GROVE, ILL. — Darwin Realty has brokered the sale of a 53,289-square-foot office/industrial property located at 1500 Busch Parkway in Buffalo Grove. JJS Properties sold the property to Knipex Tools for an undisclosed price. The buyer, the North American sales and marketing organization for the German hand-tool manufacturer, plans to relocate its operations from Arlington Heights, Ill., to the facility. Dan Predergast and Adam Haefner of Darwin Realty represented the seller, while Brian Hellgeth of Brian Properties represented the buyer in the transaction.

September 28, 2016

Midwest Office Wisconsin

Colliers International | Wisconsin Facilitates Two Property Sales, One Lease in Wisconsin

by Amy Works September 28, 2016

WATERTOWN, BROOKFIELD AND DELAVAN, WIS. — Colliers International | Wisconsin has arranged two property sales and one lease in Wisconsin. In the first deal, FAB Leasing Co. acquired a building, located at 1701 Utah St. in Watertown, from an undisclosed seller for $320,000. Steve Sewart and Westin Kane of Colliers arranged the deal. In the second transaction, WLCFS leased 2,665 square feet of office space at 16535 W. Bluemound Road in Brookfield. Sal Strehlow, Matt Fahey, Ben Anderson and Lyle Landowski of Colliers brokered the transaction. In the third deal, Griego Sound Inventions purchased a building located at 1436 Mound Road in Delavan for $350,000. Jim Larkin and Joe Eldredge of Colliers arranged the transaction. The name of the seller was not released.

September 28, 2016

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