Office

Sioux City Experiences ‘Crane Craze’ Across Property Types

by Christina Cannon September 1, 2016

The skies are dotted with cranes — not the type you would find on route west to the Sandhills of Nebraska, but the type synonymous with a robust economy. It is safe to say there have never been so many cranes at work in the history of Sioux City. Several large industrial projects are resulting in further development of retail and multifamily space that has been in demand for some time in Sioux City. Retail, entertainment wave Helping to draw residents and visitors alike out into the streets of Sioux City is the $130 million Hard Rock Hotel & Casino. The Hard Rock replaced the floating Argosy riverboat casino in a first-in-the-state competitive bidding war for a land-based casino. Due to the popularity of the development since it opened in August 2014, the Hard Rock already has plans to add an $8 million casino expansion by the end of the year. Hard Rock has played a vital role in making Sioux City a regional, cultural and entertainment destination. Dallas-based Anthony Properties is planning to deliver 350,000 square feet of retail space by the summer of 2018. The 64-acre site, located at the intersection of Sunnybrook Drive and Sergeant Road, is …

September 1, 2016

Massachusetts Northeast Office

Colliers Negotiates Sale of 80,000 SF Office Building in Massachusetts

by Amy Works August 31, 2016

FOXBOROUGH, MASS. — Colliers International has brokered the sale of an office building located at 33 Commercial St. in Foxborough. An affiliate of Lexington Realty Trust sold the property for an undisclosed sum. Situated on approximately 18 acres, the property features 80,000 square feet of office space. Caleb Hudak, P.J. Foster and Steve Woelfel of Colliers handled the transaction. The name of the buyer was not released.

August 31, 2016

Loans Mixed-Use New York Northeast Office Retail

Thorofare Capital Secures $15.3M Loan for Mixed-Use Property in Brooklyn

by Amy Works August 31, 2016

NEW YORK CITY — Thorofare Capital has secured a $15.3 million fixed-rate bridge loan for a mixed-use property in Brooklyn’s Gowanus section. The property features 57,050 square feet of mixed-use space. Kevin Miller and Felix Gutnikov of Thorofare Capital arranged the recapitalization and tenant improvement/leasing commissions facility for the undisclosed borrower.

August 31, 2016

Mixed-Use Office Texas

FM Global to Become Largest Commercial Tenant of The Star in Frisco

by Haisten Willis August 31, 2016

FRISCO, TEXAS — FM Global has signed on as an office tenant at The Star, home of the Dallas Cowboys headquarters that opened in July 2016. The commercial property insurance company will occupy more than 79,000 square feet of office space across floors five and six, including that tower’s entire top floor. The Star includes 398,000 square feet of Class A office space, including a two-story underground parking garage. Established nearly 200 years ago, FM Global is a multi-national mutual insurance company. The company is the Dallas Cowboys’ provider of property and builders’ risk insurance. The move will bring over 300 of FM Global’s employees, mostly from the company’s current space in Plano, to The Star in June 2017.

August 31, 2016

Midwest Office Ohio

NorthMarq Arranges $39.6M Loan for 20-Story Office Building in Cincinnati

by Christina Cannon August 31, 2016

CINCINNATI — NorthMarq Capital has arranged a $39.6 million loan to refinance the Omnicare Center, a 20-story, Class A office building in Cincinnati. Susan Branscome of NorthMarq placed the 10-year loan with a major life insurance company on behalf of the borrower, Smith Hallemann Partners. The building includes amenities such as a barbershop with shoe shine and repair services, a Starbucks, transportation services, a conference center, dry cleaning shop and restaurant.

August 31, 2016

Michigan Midwest Office

Friedman Arranges 5,319 SF Office Lease Near Detroit

by Christina Cannon August 31, 2016

SOUTHFIELD, MICH. — Friedman Integrated Real Estate Solutions has arranged a 5,319-square-foot office lease in Southfield, approximately 15 miles northwest of Detroit. The landlord, 26711 Office Associates LLC, will lease space to Real Estate Services Solutions Company (RESSCO), which will occupy the space this November. RESSCO will continue to occupy space at its current location in the Omni Officecentre until its lease expires in late 2017. David Friedman and Dan Verderbar of Friedman represented both parties in the transaction.

August 31, 2016

Illinois Midwest Mixed-Use Office Top Stories

CIM Group to Buy Tribune Tower in Chicago for $205M

by Haisten Willis August 31, 2016

CHICAGO — Tribune Media Co. (NYSE: TRCO) has agreed to sell the iconic Tribune Tower in downtown Chicago to Los Angeles-based CIM group for $205 million in cash at closing. The buyer could pay up to an additional $35 million based on contingencies and conditions, which could bring the total up to $240 million. The sale is expected to close by the end of September. Built in 1925, the building features 35 stories and nearly 740,000 square feet. The sale also includes a 36,000-square-foot development site located directly to the east of Tribune Tower, fronting Cityfront Plaza. “Tribune Tower has been a unique part of Chicago’s skyline since the 1920s,” says Peter Liguori, Tribune Media’s president and CEO. “It is a gem of architectural and structural accomplishment and a constant reminder of the important role that Tribune has played in the development of the city itself.” Since the beginning of the year, Tribune Media has sold several smaller properties in markets ranging from South Florida to Seattle for gross proceeds of approximately $89 million. Earlier this year, the company agreed to sell the north block of the Los Angeles Times Square property and the nearby Olympic printing plant, both in Los …

August 31, 2016

Industrial Loans New York Northeast Office

Rubenstein Partners Secures $197M in Construction Financing for 500,000 SF Mixed-Use Property in Brooklyn

by Amy Works August 30, 2016

NEW YORK CITY — Rubenstein Partners has secured a $197 million first mortgage construction loan for 25 Kent Avenue, a mixed-use property in the Williamsburg section of Brooklyn. Serving as co-lead arrangers and co-bookrunners, Wells Fargo Bank and Natixis Real Estate Capital committed $197 million for the project. The new loan provides for all future construction costs and fully capitalizes the project. Being developed by Rubenstein Partners and Heritage Equity Partners, the eight-story building will feature 500,000 square feet of office and industrial space tailored to the creative and tech sectors.

August 30, 2016

Massachusetts Northeast Office

Enel Green Power North America Moves Headquarters to Andover Landing at Brickstone in Massachusetts

by Amy Works August 30, 2016

ANDOVER, MASS. — Enel Green Power North America (EGP-NA) has leased 66,000 square feet of space at Andover Landing at Brickstone in Andover for its new North American headquarters location. Located at 100 Brickstone Square, the facility features a renovated full-service cafeteria, flexible conference facilities, a coffee/juice bar, fitness center with yoga room, shower and locker facilities, a Bright Horizons Day Care facility, outdoor seating, on-site property management and ample parking. EGP-NA is an operator of more than 100 renewable energy plants in North America, and its parent company, Enel Group, is a multinational power company headquartered in Rome, Italy. Kerry Hawkins, Jason Levendusky and Jake Borden of CBRE/New England represented the landlords, KS Partners and Oaktree Capital, while Brooks Murphy and Brian Morrissey of JLL represented the tenant in the lease.

August 30, 2016

Offices-at-Forest-Hill-2001-Green-Oaks-Blvd-Arlington-Texas

Office Texas

Coldwell Banker Negotiates Sale of 31,960 SF Office Property in Arlington

by Haisten Willis August 30, 2016

ARLINGTON, TEXAS — Coldwell Banker Commercial Advisors DFW has brokered the sale of the 31,960-square-foot Offices at Forest Hills property to California-based RAB Properties, which utilized a 1031 tax-deferred exchange to purchase the Class A, two-building project in Arlington. The single-story structures, located at 2001 and 2005 N.E. Green Oaks Blvd., were 93 percent occupied at the time of sale. Joe Hamilton and Theron Bryant of Coldwell Banker Commercial Advisors DFW represented the local seller, WCII-1 LLC. Negotiating for the buyer was Sam Owen of OGH Real Estate LLC, who has assumed leasing and management duties for the property. The Offices at Forest Hills was developed in 2007 on 3.4 acres near TX 360, I-30 and Dallas/Fort Worth International Airport. The buildings, totaling 11,967 square feet and 19,993 square feet, include private balconies for each office and shared conference space. The asset also features a 120-space parking lot with 10 covered spaces. The smaller building is fully leased to Lima USA for its headquarters. The wholly owned subsidiary of Italy-based Lima Corporate S.P.A. manufactures and distributes shoulder, knee and hip products and technology to surgeons. The larger building houses Insala Ltd., Endeavor Wall Homes, the U.S. Fish & Wildlife Commission …

August 30, 2016

Newer Posts

Older Posts