Office

1000-east-woodfield-road-schaumburg-illinois

Entre Arranges Sale of 204,345 SF Office Building in Schaumburg, Ill.

by Haisten Willis September 20, 2016

SCHAUMBURG, ILL. — Brian Bocci of Entre Commercial Realty LLC represented Vinayaka Holdings Corp. in the purchase of a 204,345-square-foot office building located at 1000 E. Woodfield Road in Schaumburg. Entre Commercial Realty has also been retained to market the refurbished building for lease. The building’s lobby was recently renovated and the exterior was painted. The parking lot will be refurbished and new landscaping will be installed as well. The property is within walking distance to Woodfield Mall. Steve Kling, Jason Simon and Tom Gorman of Colliers International worked on behalf of the unnamed seller.

September 20, 2016

Illinois Midwest Office

Morgan/Harbour Completes Office Renovation for Cour Pharma in Northbrook

by Haisten Willis September 20, 2016

NORTHBROOK, ILL. — Morgan/Harbour Construction has completed an office renovation for Cour Pharma Development Co. Inc. at 2215 Sanders Road in Northbrook. Founded in 2012, Cour Pharma is a nanobiotechnology company that focuses on the development of novel immune therapies. Morgan/Harbour was hired to complete a 4,400-square-foot build-out for Cour Pharma’s space within CVS Health Towers. The interior build-out consisted of the addition of two glass conference rooms and an open office layout for the break area. Morgan/Harbour’s construction team included Joe Zosky as project executive and Erick Hodorowicz as project manager and superintendent. JDJ Architects provided the architectural services for the design.

September 20, 2016

rh-austin-the-gallery-at-the-domain-texas

Office Texas

Restoration Hardware Unveils RH Austin, The Gallery at The Domain in Austin

by Haisten Willis September 20, 2016

AUSTIN, TEXAS — Restoration Hardware Holdings Inc. (RH) has opened RH Austin, The Gallery at The Domain at 11720 Domain Blvd. in Austin. The design gallery spans four stories and over 60,000 square feet. The property features installations of home furnishings in a gallery setting, including a floor dedicated to RH Modern with an integrated RH contemporary art gallery. RH Austin also includes an interactive design atelier, which is a workspace that allows customers, designers and architects to conceptualize and customize a home. Architect James Gillam of Backen, Gillam & Kroeger designed the property.

September 20, 2016

Loans Office Texas

CBRE Capital Markets Arranges $32M in Financing for Tollway Towers in Dallas

by Haisten Willis September 20, 2016

DALLAS — CBRE Capital Markets’ debt and structured finance team has arranged debt financing for Tollway Towers, a three-building office asset in Dallas. CBRE arranged the $32 million non-recourse loan on behalf of Champion Partners and CrossHarbor Capital Partners. Tollway Towers comprises two office towers and a garden office building totaling 341,836 square feet. Tollway Towers is located along the Dallas North Tollway, two miles north of I-635. The property was built in 1983 and renovated in 2007. The new ownership plans to invest several million dollars into the buildings for both capital upgrades and a speculative suite program tailored to attracting tenants seeking 750 to 5,000 square feet. Scott Lewis, Greg Greene and Matt Ballard of CBRE’s Dallas office originated and secured financing on behalf of the borrowers.

September 20, 2016

Office Texas

Trammell Crow Opens Park South YMCA Early Childhood Center in Dallas

by Haisten Willis September 20, 2016

DALLAS — Trammell Crow Co. (TCC), Alliance Architects and Fast-Track Construction have completed an early childhood center for Park South YMCA in Dallas. The project was built on behalf of In The City For Good, a charitable organization that develops food pantries and early childhood education programs for inner city youth. TCC, Alliance and Fast-Track converted an abandoned 2,000-square-foot laundromat into a preschool building that will serve 145 children. The one-story building, located at 3901 Latimer St., features three classrooms. The development team designed built-in shelves for storage, added windows to allow for natural light and painted all the rooms in bright colors to aid in learning.

September 20, 2016

Georgia Office Southeast Top Stories

Rubenstein Partners-Led JV Acquires 1.6 MSF Office Park in Metro Atlanta for $265M

by John Nelson September 20, 2016

ALPHARETTA, GA. — Rubenstein Partners LP, along with a minority equity partner, has purchased Sanctuary Park, a 1.6 million-square-foot office park complex located in the northern Atlanta suburb of Alpharetta, for $265 million. The joint venture purchased the asset from J.P. Morgan. (NYSE: JPM), according to the Atlanta Business Chronicle. Sanctuary Park has been institutionally owned, developed and maintained for nearly 20 years. The property comprises nine mid-rise buildings within a 152-acre, master-planned campus, which features three zoned development sites that can accommodate an additional 750,000 square feet of build-to-suit office space. Sanctuary Park is currently 96 percent leased to tenants that include Delta Dental Insurance, Coca-Cola, Ernst & Young, Ciena Corp., LeasePlan and Verizon Wireless. Verizon is expected to vacate its office space at the campus in the near future, which will lower Sanctuary Park’s occupancy to approximately 75 percent. “Sanctuary Park is exactly the kind of unique value-add opportunity Rubenstein Partners seeks out,” said Taylor Smith, regional director of the Southeast for Rubenstein Partners. “The Class A property is generally regarded as the top office park in North Fulton, and we are thrilled to complete the acquisition of this asset. We believe Verizon’s departure created an opportunity for …

September 20, 2016

Arizona Office Western

Crown Realty & Development Buys CVS Health Building in Phoenix for $40.4M

by Nellie Day September 19, 2016

PHOENIX — Crown Realty & Development has purchased a 138,240-square-foot office building in Phoenix that is occupied by CVS Health for $40.4 million. The space, known as Four Gateway, is located at 444 N. 44th St. State Farm occupied the building on a short-term lease while the company waited to consolidate operations at its new regional campus at Marina Heights on Tempe Town Lake. CVS, which signed its lease this past April, now occupies the entire building. CBRE’s Jim Fijan and Will Mast executed the transaction. The seller was VanTrust Real Estate.

September 19, 2016

Midwest Office Ohio

Forest City Sells Terminal Tower Office Building in Cleveland for $38.5M

by Haisten Willis September 19, 2016

CLEVELAND — Forest City Realty Trust Inc. has sold Terminal Tower, a 597,000-square-foot office building in downtown Cleveland, to an affiliate of K&D Group for $38.5 million. The sale corresponds with Forest City’s decision earlier this year to explore new options for the location of its corporate offices, which have been housed at the Terminal Tower since 1997. The company is engaged in a search process, though no change is expected before the end of 2017. Opened as Cleveland Union Terminal in 1930, the Terminal Tower was the tallest building outside of New York City until 1964. Forest City acquired the building in 1983. In 2010, the company completed a four-year interior and exterior renovation of the tower. Included in the project were a restoration of the building’s observation deck and the installation of an exterior LED lighting system.

September 19, 2016

Office Texas

Coldwell Banker Commercial Arranges Sale of Kool Smiles in San Angelo

by Haisten Willis September 19, 2016

SAN ANGELO, TEXAS — The Net Leased Investment Group for Coldwell Banker Commercial has arranged the sale of Kool Smiles, a dentist’s office, in San Angelo. The property is a net-leased investment with all maintenance and repairs handled by the tenant. Parker Carroll of Coldwell Banker Commercial represented the seller in the transaction.

September 19, 2016

Company News Office Texas

HDR Opens Regional Office in San Marcos

by Haisten Willis September 19, 2016

SAN MARCOS, TEXAS — HDR has opened an office in San Marcos to serve Hays County and nearby cities including San Marcos, Kyle, Buda and Dripping Springs. The employee-owned engineering firm has leased space in the Red Oaks shopping center, located at 1290 Wonder World Drive, near the Hays County Government Center. Allen Crozier has been named manager of HDR’s San Marcos office. Crozier has been with HDR since 2005 and previously worked with the Texas Department of Transportation.

September 19, 2016

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