SEATTLE — Atlas Workbase has opened a new 20,000-square-foot coworking space at the Lumen Building in Seattle’s Queen Anne neighborhood. The space will cater to mature companies, small businesses and executives, meaning managers and consultants rather than the traditional start-up crowd. The space is targeting professional industries like retail banking, insurance and law that seek a professional shared workspace. Atlas Workbase was designed in conjunction with Gensler and OpenSquare. It was created with partners including FedEx Office, Steelcase and Philips Lighting. Atlas previously announced a partnership with FedEx Office. The company has opened an in-house print and ship center inside its Mercer Street facility.
FRISCO, TEXAS — HALL Group has received a $57.3 million construction loan for the development of an office property located at 3201 Dallas Parkway in Frisco. Situated within the 162-acre HALL Park, the 12-story building will feature 300,000 square feet of rentable office space. The office building is slated for completion in December. Amenities at HALL Park include a fitness center, conference center, bank, wine lounge, on-site restaurants, food truck court, courtesy patrols, full-time concierge, retail center and on-site childcare. Try Morsback and Michael Cosby of HFF secured the financing through a lending syndicate led by Commerce Bank on behalf of HALL Group.
AUSTIN, TEXAS — Los Angeles-based BH Properties has acquired the former Golfsmith International Holdings Inc. headquarters facility in Austin out of Golfsmith’s bankruptcy liquidation process for $20.5 million. Situated on 40 acres, the four-building, 332,345-square-foot property features a 93,000-square-foot building, which housed retail and office space, and three manufacturing and distribution facilities totaling 239,000 square feet. BH Properties was represented in-house, while Michael Jerbich of A&G Realty Partners represented Golfsmith in the deal.
IRVING, TEXAS — Transwestern has negotiated the sale of an office building located at 4001 W. Airport Freeway in Irving. MLMT 2005-LC1 Freeway Offices LLC sold the 85,900-square-foot property for an undisclosed price. Steven Simon and Matt Hurlbut of Transwestern represented the seller. The name of the buyer and acquisition price were not released.
SKOKIE, ILL. — American Landmark Properties has purchased the Illinois Science + Technology Park (ISTP) in Skokie, a suburb of Chicago, for $77 million. The 24-acre campus is located at 4901 Searle Parkway. The property includes 556,650 square feet of office, laboratory and amenity space. The buildings are 86 percent leased to tenants such as NorthShore University HealthSystem, Astellas Pharma, LanzaTech, Vetter Development Services USA and Fresenius Kabi. Included in the acquisition is the 136,000-square-foot 8030 Lamon Ave. building shell, which is suitable for a build-to-suit tenant. Additional development opportunities include up to 1.3 million square feet of new office and lab facilities on the ISTP campus and a 500,000-square-foot, mixed-use retail and residential project directly on Oakton Street. Forest City Realty Trust, which purchased the property in 2005, was the seller. Scott Brandwein and David Saad of CBRE have been retained as the leasing agents for the ISTP property. Cohen Financial secured a $73.5 million loan with Prime Finance Partners of Chicago for the borrower.
ROSELAND, N.J. — Vision Real Estate Partners has purchased a three-building office portfolio, located at 101, 103 and 105 Eisenhower Parkway in Roseland. Mack-Cali Realty Corp. sold the portfolio for an undisclosed price. The buyer plans to rebrand and renovate the 610,000-square-foot portfolio, which is situated on 51 acres. Brach Eichler LLC, Orloff Lowenbach S. & S., Lum, Drasco & Positan LLC, FTI Consulting and Marcum LLP are among the 57 tenants of the portfolio. John Alascio and John Spreitzer of Cushman & Wakefield arranged acquisition financing for the buyer, while Nicholas Karali, also of Cushman & Wakefield, advised the buyer on the transaction.
WINCHESTER, VA. — Navy Federal Credit Union, the world’s largest credit union, has broken ground on its new 180,000-square-foot office building in Winchester. Navy Federal has invested $100 million to expand into the three-story facility, which is expected to be fully operational by the end of 2018. The Winchester facility will house about 1,400 employees, which are currently spread between two different facilities in Virginia’s Frederick County. Vienna, Va.-based Navy Federal has more than $79 billion in assets, 6 million members and 296 branches.
CHARLOTTE, N.C. — Bank of America has renewed its 194,000-square-foot office lease at 525 North Tryon, a 19-story office building in Uptown Charlotte. Charles Jonas and Meredith Ball of Foundry Commercial represented the building’s owners, Grubb Properties and New York Life, in the lease deal. JLL represented Bank of America, according to Charlotte Business Journal. Grubb Properties and New York Life have enhanced existing amenities at 525 North Tryon and added new ones, including a fitness center known as Club 525, bike storage room, free electric car shuttle, conferencing center and an electric car charging station. The owners are also in the final stages of securing LEED Silver certification at the building, which has already earned the EPA’s Energy Star designation.
LOUISVILLE, KY. — CBRE has assisted Thorntons, a Louisville-based gas station and convenience store chain, in the sale-leaseback of its corporate headquarters and store support center, which is currently under construction off Old Henry Road in Louisville’s East End. Thorntons will occupy nearly 90,000 square feet of space at the build-to-suit property starting in April. Andrew Sandquist, Anne Rahm, J.C. Asensio, Briggs Goldberg, David Tropp and David Hardy of CBRE represented Thorntons, which currently operates 185 stores in Kentucky, Indiana, Illinois, Ohio, Tennessee and Florida. The buyer and sales price were undisclosed.
GREENWICH, CONN. — Capital One Healthcare has arranged a $534.9 million loan to fund Starwood Property Trust’s (NYSE: STWD) acquisition of 34 medical office buildings in 12 states. The 1.9 million-square-foot portfolio includes properties in California, Colorado, Florida, Georgia, Illinois, Indiana, Nevada, New Jersey, New York, North Carolina, Tennessee and Texas. The seller and purchase price were not disclosed. “This strategic acquisition provides us with a safe, resilient income stream and the opportunity to participate in the stable long-term growth of the medical office building sector,” says Barry Sternlicht, chairman and CEO of Starwood Property Trust. The acquisition represents Starwood’s first entry into the medical office sector, according to commercial real estate research firm CoStar. The company will also take over management of the portfolio. Capital One Healthcare is a financial services provider serving the healthcare industry. It is a subsidiary of financial holding company Capital One Financial Corp. Starwood Property Trust is an affiliate of Greenwich-based private investment firm Starwood Capital Group. Starwood Property Trust’s stock price closed at $22.34 per share on Friday, Jan. 27, up from $18.64 one year ago. — Jeff Shaw