Office

Align Real Estate Buys Comcast Office Center in Livermore for $59M

by Nellie Day June 21, 2016

LIVERMORE, CALIF. — Align Real Estate has acquired Comcast Office Center, 219,631-square-foot office campus in Livermore, for $59 million. The three-building campus serves as the regional headquarters for Comcast. The space is located at 3011, 3055 and 3077 Comcast Place in the Tri-Valley region of the greater San Francisco Bay Area. Comcast Office Center features outdoor seating, and volleyball and basketball courts. HFF’s Michael Leggett, Scott Pertel and Gerry Rohm represented the buyer and seller, Gramercy Property Trust, in this transaction.

June 21, 2016

Loans Office Texas

Metropolitan Capital Advisors Arranges $14.4M Loan for Office Portfolio in Metro Dallas

by Haisten Willis June 21, 2016

COPPELL and ADDISON, TEXAS — Metropolitan Capital Advisors has arranged a $14.4 million loan for a portfolio of two office properties in metro Dallas. Rainier Asset Management Co., a subsidiary of Dallas-based Rainer Cos., owns the portfolio. The ownership is structured as a tenant-in-common. The five-year loan includes a 65 percent loan-to-value ratio and a fixed 4.95 percent interest rate. The portfolio includes Lakeview Center in Coppell and Sojourn Medical and Office Center in Addison. Lakeview Center is a 101,426-square-foot, single-story office building built in 1999. The property is 100 percent leased to six tenants, including Beacon Health Options, Circle K Stores and Caliber Home Loans. Sojourn Medical and Office Center was built in 2000 and is 87 percent leased to three tenants including the U.S. Oncology Center.

June 21, 2016

Office Texas

Corvette Warehouse Expands Headquarters in Dallas

by Haisten Willis June 21, 2016

DALLAS — Corvette Warehouse LLC is expanding its headquarters, sales center and showroom in Northwest Crossing, signging a long-term lease for 19,639 square feet in north Dallas. The business is adding 6,450 square feet of showroom space in Building Four at 2158 W. Northwest Highway in Dallas’s Stemmons Corridor. The four-building, 126,894-square-foot property is 90 percent occupied. Corvette Warehouse occupies end cap space, which is visible from the freeway. The 6.6-acre Northwest Crossing is located near I-35W and I-635. The company negotiated its new lease directly with the landlord’s brokerage team. Jason Miller and Brian Pafford of Dallas-based Bradford Commercial Real Estate Services represented the landlord, AF-1 Northwest Crossing LLC, in the transaction.

June 21, 2016

Office Texas

G&A Partners Relocates Corporate Headquarters to Houston’s Energy Corridor

by Haisten Willis June 21, 2016

HOUSTON — G&A Partners, a professional employer organization and HR services provider, has relocated its corporate headquarters to Houston’s energy corridor. The new office, located in the Westgate complex at 17220 Katy Freeway, will allow the company to increase its operational capacity by providing additional square footage and modern amenities. With many of its more than 150 Houston-based employees living on the north and west sides of the city, G&A decided that moving to the energy corridor would decrease commute times for its employees. G&A partnered with CBRE’s Kevin Kushner for tenant representation services, including site selection and lease negotiations. The building’s layout, designed by Ziegler Cooper Architects, features breakout and conference rooms and an open floor plan. The company moved into the new space this month.

June 21, 2016

New York Northeast Office

American Realty Capital REIT Acquires 22-Story Office Building in Midtown Manhattan for $180M

by Amy Works June 21, 2016

NEW YORK CITY — American Realty Capital New York City REIT has closed on the previously announced $180 million acquisition of 1140 Avenue of the Americas, an institutional-quality office property in Midtown Manhattan. The seller was an affiliate of Blackstone Real Estate Partners VI LP. The 22-story building features 250,000 rentable square feet of office space. The acquisition was funded by a combination of cash and mortgage financing.

June 21, 2016

Illinois Midwest Office

Marcus & Millichap Brokers $5.3M Sale of Office Property in Des Plaines, Illinois

by Christina Cannon June 21, 2016

DES PLAINES, ILL. — Marcus & Millichap has brokered the sale of an office property in Des Plaines, approximately 20 miles northwest of Chicago, for $5.3 million. Touhy Office Plaza, located at 1400 E. Touhy Ave., was built in 1972 and renovated in 2013. J. Emil Anderson & Son Inc. sold the four-story, 126,088-square-foot building. The company will continue to occupy space within the building. The buyer was a Chicago-based private investment group. Stephen Lieberman of Marcus & Millichap represented the seller in the transaction.

June 21, 2016

New York Northeast Office Top Stories

SL Green Taps AECOM’s Tishman Construction to Manage Construction of $1B Office Project in Manhattan

by Jeff Shaw June 21, 2016

NEW YORK CITY — SL Green Realty Corp. has chosen AECOM’s Tishman Construction unit to manage the construction of One Vanderbilt, a 58-story office development located adjacent to Grand Central Terminal in New York City’s East Midtown business district. The total value of construction for the project is approximately $1 billion. The skyscraper will contain 1.6 million square feet of Class A commercial space, a public transit hall and a 14,000-square-foot public plaza. The development will also include $220 million worth of public transit improvements to the Grand Central transit hub. When One Vanderbilt is complete, the building is expected to be the second tallest office tower in New York City, reaching heights of 1,401 square feet, according to Tishman. The tower will be second only to One World Trade Center, which Tishman also built. Kohn Pedersen Fox (KPF) designed the building to pay homage to the Grand Central Terminal and fit into the skyline alongside the Chrysler Building, located one block away from the development site. The developers plan to achieve LEED v4 Gold certification for the project. Primary construction is scheduled to begin in 2016, with completion expected in 2020. — Katie Sloan

June 21, 2016

first-choice-emergency-room-rowlett-texas

Healthcare Loans Office Texas

Metropolitan Capital Advisors Arranges $5.1M Construction Loan for Emergency Room in Metro Dallas

by Haisten Willis June 20, 2016

ROWLETT, TEXAS — Metropolitan Capital Advisors has arranged a $5.1 million construction loan for First Choice Emergency Room, located in Rowlett. The 0.8-acre tract is located off the northwest corner of Rowlett Road and Highway 66. The three-year loan, funded by Happy State Bank, includes one year of interest-only payments, a 4.75 percent fixed interest rate and a 25-year amortization schedule. The nearest hospital is the Lake Pointe Medical Center 3.5 miles east of downtown Rowlett across Lake Ray Hubbard.

June 20, 2016

Office Texas

Dow Chemical Leases 75,920 SF in Deerwood Glen III Office Building

by Haisten Willis June 20, 2016

DEER PARK, TEXAS — The Dow Chemical Co. has leased 75,920 square feet in Deerwood Office III, an office building under construction at 4460 State Highway 225 in Deer Park. Completion of the 98,230-square-foot, two-story building is scheduled for August 2016. Clay Development and Construction, is the developer of Deerwood Office III, the third building in the office park section of Deerwood Glen Business Park, a 150-acre site acquired by Clay in 2008. Deerwood Glen III is now 77 percent leased. A fourth office building is planned in the park. Craig Beyer, Jeff Cutler and Kristian Nielsen of CBRE represented Dow in the transaction, and Charlie Christ of Clay Development & Construction represented the landlord in lease negotiations. Deerwood Office III is located on 8.6 acres and features 50,293-square-foot floorplates. The property has a parking ratio of four spots per 1,000 square feet.

June 20, 2016

Florida Office Southeast

Greenstreet, CREC Sell Office Building in Coral Gables for $57.5M

by John Nelson June 20, 2016

CORAL GABLES, FLA. — A joint venture between Greenstreet Partners and CREC has sold 2121 Ponce, a 164,848-square-foot office building in Coral Gables. A member company of Zurich North America purchased 2121 Ponce for $57.5 million. The property was more than 95 percent occupied at the time of sale to tenants such as Goldstein Schechter, Fox Latin America, Valley National Bank, the Consulate of Barbados and CREC. In addition to office space, 2121 Ponce features a five-story, 586-space parking garage and ground-level retail space including restaurant POC. Warren Weiser, Harry Blyden and Andrew Remick of CREC co-brokered the sale with the CBRE team of Christian Lee, Jose Lobon and Andrew Chilgren. Roy Rosenbaum and Sean Bannon of Zurich Alternative Asset Management LLC advised the buyer.

June 20, 2016

Newer Posts

Older Posts