Office

Invesco to Rebrand 1920 McKinney Office Tower in Dallas as Parkview at 1920 McKinney

by Haisten Willis October 6, 2016

DALLAS — Invesco will rebrand the 1920 McKinney office tower in Dallas as Parkview at 1920 McKinney, emphasizing the property’s location overlooking Klyde Warren Park. The 12-story, Class A office and retail property is located in the Uptown submarket. The building spans more than 141,000 square feet of rentable office space, with balconies on every office level and views of both the downtown Dallas skyline and the park. Over 50 percent of the property has been leased with 66,000 square feet of contiguous office space available. JLL’s Daryl Mullin, James Esquivel and Ashley Curry are leading the leasing and marketing efforts. The location also offers on-site dining at Water Grill, which is scheduled to open in December, a full-service fitness center, access to the Katy Trail and Klyde Warren Park, 100 percent covered parking and on-site management.

October 6, 2016

CBRE Brokers $25M Sale of Two Multi-Tenant Office Buildings in Greenville

by John Nelson October 6, 2016

GREENVILLE, S.C. — CBRE has brokered the sale of two multi-tenant office buildings located at 201 and 651 Brookfield Parkway in Greenville. Atlanta-based Fairlead Capital Partners purchased the two properties from Garrison Investment Group for a combined $25 million. Fairlead funded the purchase with its proprietary capital and equity from Bridge Investment Group Partners, manager of the ROC funds. Totaling 238,175 square feet, the assets are leased to tenants such as MetLife, GE Gas Turbines and Ahold USA. Patrick Gildea and Tripp Sellers of CBRE represented Garrison Investment Group in the transaction.

October 6, 2016

Maine Northeast Office

Montecito Medical Acquires 34,000 SF Maine Eye Center in Portland, Maine

by Amy Works October 5, 2016

PORTLAND, MAINE — Montecito Medical Real Estate has acquired Maine Eye Center’s Lowell Street campus in Portland for an undisclosed price. The 34,000-square-foot Class A medical office building is minutes from downtown Portland, Portland Harbor and the region’s two major hospitals, including Maine Medical Center. The Maine Eye Center has a practice lineage of more than 100 years and offers comprehensive eye specialty services. Including this transaction, Montecito has acquired 20 medical office buildings during the past 12 months and expects to close on the acquisition of eight additional medical real estate assets before the end of this year.

October 5, 2016

Massachusetts Northeast Office Retail

CBRE/NE Brokers Sale of 62,474 SF Office/Retail Building in Cambridge, Massachusetts

by Amy Works October 5, 2016

CAMBRIDGE, MASS. — CBRE/New England has arranged the sale of an office and retail building located at 1050 Massachusetts Ave. in Cambridge. Putnam Circle Associates sold the 62,474-square-foot property to L&B Realty Advisors for an undisclosed sum. The property is currently leased to several long-term office tenants, including Cambridge 7 Associates, the National Bureau of Economic Research and Northstar Project & Real Estate Services. Pyara Spa & Salon is currently the sole retail occupier in the first-floor retail space. Dave Pergola, Brian Doherty and Chuck Kavoogian of CBRE/NE represented the seller and procured the buyer in the transaction.

October 5, 2016

New Jersey Northeast Office

Markeim Chalmers Negotiates $1.6M Sale of 12,000 SF Office Building in Cherry Hill, New Jersey

by Amy Works October 5, 2016

CHERRY HILL, N.J. — Markeim Chalmers Inc. has arranged the sale of an office building located at 499 Cooper Landing Road in Cherry Hill. The Guidance Center of Camden County Inc. sold the property to 409 ROPA Realty LLC for $1.6 million. The buyer plans to convert the 12,000-square-foot property into a state-of-the-art medical office building. Kevin Burns of Markeim Chalmers represented the seller in the deal.

October 5, 2016

California Office Western

Douglas Emmett Buys Trophy Office Asset in Santa Monica

by Nellie Day October 5, 2016

SANTA MONICA, CALIF. — Douglas Emmett has purchased a 128,935-square-foot office building in downtown Santa Monica. The sales price was $139.5 million according to the seller, Blackstone Group. The asset is located at 233 Wilshire Blvd. The building is 91 percent leased to tenants like Luther Burbank Savings, Tunnel, Hirschfeld Kraemer LLP, GoodRX and Enenstein & Ribakoff. It sits adjacent to the Third Street Promenade, which features retailers like Nike, Nordstrom, Bloomingdale’s, Apple, Tesla and Lululemon. HFF’s Ryan Gallagher, Michael Leggett, Andrew Harper, Tim Geiman and Michael Matchett represented both the buyer and seller in this transaction.

October 5, 2016

freeport-corporate-center-8650-freeport-parkway-irving-texas

Office Texas

CMG Mortgage to Expand Regional Office in Metro Dallas

by Haisten Willis October 5, 2016

IRVING, TEXAS — CMG Mortgage Inc. is increasing the size of its north Texas regional office, finalizing a 10,951-square-foot lease in an expansion and long-term extension for Class A office space in Irving. The California-based company has secured 3,350 square feet adjacent to its 7,601-square-foot office on the first floor of Freeport Corporate Center, a two-story suburban office building located at 8650 Freeport Parkway S. The extra space will be ready to occupy this week. Kevin Brookmole of Dallas-based Bradford Commercial Real Estate Services represents the landlord, Slate Freeport Holdings LLC. Steve Herman of Herman Commercial Real Estate in Walnut Creek, Calif., represented CMG, which has a nationwide network of mortgage offices. Both leases are co-terminus.

October 5, 2016

Office Texas

Colvill Arranges Pair of Office Leases in Houston

by Haisten Willis October 5, 2016

HOUSTON — Colvill Office Properties has arranged two office lease transactions at Citycentre Five, a 15-story, 227,000-square-foot office building in Houston. The transactions include a 13,226-square-foot lease to Five Point Capital Partners and a 4,357-square-foot lease to Credera. The two deals bring the Class A asset to 77 percent occupancy. Michael Anderson and Connor Saxe of Colvill Office Properties represented the landlord, Midway, in the lease transactions. Michelle Wogan of Transwestern represented Five Point Capital Partners, and Nick Terry of Caldwell Cos. represented Credera.

October 5, 2016

Georgia Office Southeast

Starwood Capital-Led JV Buys 50-Story Office Tower in Midtown Atlanta

by John Nelson October 5, 2016

ATLANTA — A joint venture between Starwood Global Opportunity Fund X and Core Property Capital has purchased One Atlantic Center, a 50-story office tower located at 1201 W. Peachtree St. in Midtown Atlanta. The sales price was undisclosed, but the Atlanta Business Chronicle reports the price as likely being $300 per square foot, or $330 million. The LEED Gold-certified tower is the tallest office building in Midtown Atlanta. One Atlantic features 1.1 million square feet of office space and a 2,110-space parking garage. In a similar transaction last year, the joint venture acquired the TowerPlace office and retail complex in Atlanta’s Buckhead district in July 2015.

October 5, 2016

Alabama Loans Office Southeast

Sentinel Asset Management Provides $32.4M Acquisition Loan for Office Building in Birmingham

by John Nelson October 5, 2016

BIRMINGHAM, ALA. — Sentinel Asset Management has provided a $32.4 million acquisition loan for Brookwood Office Center, a nine-story, 169,459-square-foot office building located at 569 Brookwood Village in Birmingham’s Mountain Brook/Midtown submarket. The office building is situated on 5.1 acres within the Brookwood Village mixed-use development. Built in 2007, the property is fully leased to tenants such as Kinder Morgan, Merrill Lynch and PricewaterhouseCoopers. Jos. A. Bank and O’Henry’s Coffees lease the office building’s ground-floor retail space. Ed Coco and Matt Casey of HFF led the debt placement team that represented the borrower, an indirect subsidiary of Preferred Apartment Communities Inc. The 15-year loan features a fixed 3.52 percent interest rate.

October 5, 2016

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