Office

NAI Brannen Goddard Brokers $9.4M Sale of Office Property in Metro Atlanta

by John Nelson February 21, 2017

JOHNS CREEK, GA. — NAI Brannen Goddard has brokered the $9.4 million sale of a 75,273-square-foot office building situated within the 1,900-acre Technology Park Johns Creek development. The multi-tenant, Class A office building is located at 11360 Lakefield Drive in Johns Creek, a suburb of Atlanta in Fulton County. David Beak of NAI Brannen Goddard represented the seller, Block Income Fund, in the transaction. The buyer was City of Johns Creek, which intends to use the property as its City Hall.

February 21, 2017

Midwest Office Wisconsin

Wireless Vision Signs 3,125 SF Office Lease in Milwaukee

by Kristin Harlow February 21, 2017

MILWAUKEE — Wireless Vision LLC has signed a 3,125-square-foot office lease in Milwaukee. The T-Mobile retailer will be located at 905 S. Cesar Chavez Drive. Sean Osborne of Colliers International brokered the lease transaction.

February 21, 2017

California Loans Office Western

Natixis Provides $75M Refinancing to Pollock Realty Corp. for Silicon Valley Office Portfolio

by Nellie Day February 20, 2017

PALO ALTO AND REDWOOD CITY, CALIF. — Natixis has provided a $75 million loan to Pollock Realty Corp. to refinance three office buildings in Silicon Valley. The refinance included an 81,031-square-foot property in the Stanford Research Park in Palo Alto; a separate, 56,279-square-foot building in Stanford Research Park in Palo Alto; and a 34,796-square-foot building in the Redwood Shores region of Redwood City. Gregory Gray of Barry Slatt Mortgage arranged the financing, which was originated out of Natixis’ Los Angeles office.

February 20, 2017

Loans New Jersey Northeast Office

Cronheim Mortgage Secures $8.2M Loan for Office Property in Cherry Hill, New Jersey

by Amy Works February 20, 2017

CHERRY HILL, N.J. — Cronheim Mortgage has arranged $8.2 million in refinancing for two office properties located in Cherry Hill. David Turley, Janet Proscia and Jeff Pacailler of Cronheim Mortgage secured the 42-month loan, which features a 30-year amortization and prepayment flexibility, for the undisclosed borrower. The two buildings offer a total of 112,965 square feet of office space.

February 20, 2017

Office Texas

Marcus & Millichap Facilitates Sale of 29,216 SF Office Building in Plano

by Amy Works February 20, 2017

PLANO, TEXAS — Marcus & Millichap has brokered the sale of an office building located at 2000 N. Central Expressway in Plano. A limited liability company sold the 29,216-square-foot building for an undisclosed price. The property was fully leased at the time of sale. Ron Hebert of Marcus & Millichap represented the seller, while Hebert and Zachary Ryan, also of Marcus & Millichap, procured the buyer, a California-based individual/personal trust.

February 20, 2017

Loans Office Texas

HFF Arranges Financing for The Plaza at Enclave in Houston

by Amy Works February 20, 2017

HOUSTON — HFF has arranged financing for The Plaza at Enclave, an office building located at 1254 Enclave Parkway in Houston. Wally Reid, Matt Kafka and Dustin Selzer of HFF secured the 15-year, fixed-rate loan through Allianz Real Estate of America for the borrower, a foreign investor. The six-story, 344,296-square-foot property features a health club and fitness center, café with indoor and outdoor seating, courtyard and an entrance plaza with a multi-level fountain system. Anchored by DOW Chemical, the property was 98 percent leased at the close of financing.

February 20, 2017

Mixed-Use Office Retail Texas

EDGE Realty Capital Brokers Sale of 8,815 SF Mixed-Use Asset in McKinney, Texas

by Amy Works February 20, 2017

MCKINNEY, TEXAS — EDGE Realty Capital Markets has arranged the sale of a mixed-use property located at 7508 Eldorado Parkway in McKinney. Iselworth Management Inc. sold the 8,815-square-foot property to Guidepost A LLC, a Delaware-based limited liability company, for an undisclosed price. Wilson Stafford and Brandon Crow of EDGE Realty Capital Markets represented the seller, while Stephen Coffey of Greyhawk Associates represented the buyer in the deal.

February 20, 2017

Illinois Midwest Office

Nitel Relocates from Fulton Market to River North in Chicago

by Kristin Harlow February 20, 2017

CHICAGO — Nitel has relocated to a 32,115-square-foot office space in Chicago’s River North neighborhood. The building is located at 350 N. Orleans St. The space at River North Point is fully built-out and Nitel will make modest tenant improvements to its new space to accommodate density. The provider of telecommunications network services previously occupied 20,000 square feet at 1101 W. Lake St. in Fulton Market. Kyle Kamin, Jon Milonas and Dan Persa of CBRE represented Nitel in the transaction.

February 20, 2017

Office Texas Top Stories

Parkway to Sell Minority Interest in Houston’s Greenway Plaza, Phoenix Tower Office Properties for $512.1M

by Jeff Shaw February 20, 2017

HOUSTON — Parkway Properties (NYSE: PKY), a Houston-based REIT, has agreed to sell 49 percent interest in Greenway Plaza and Phoenix Tower, two Class A office properties in the Greenway submarket of Houston, for $512.1 million. Ownership of the two properties will now be a joint venture between Parkway, TH Real Estate, Silverpeak Real Estate Partners and Canada Pension Plan Investment Board. Parkway will retain a 51 percent majority interest in the portfolio, with TH Real Estate and Silverpeak sharing a 24.5 percent interest, and Canada Pension Plan Investment Board owning the remaining 24.5 percent. Greenway Plaza is a 52-acre, master-planned, mixed-use development featuring 11 buildings totaling approximately 4.9 million square feet of office space as its focal point. On-site amenities include a full-service restaurant, an underground food court with 16 restaurants, multiple fitness facilities, three full-service banking centers and conference facilities. Although Phoenix Tower is technically a separate property, it’s located immediately adjacent to Greenway Plaza. The 34-story building totals 665,332 square feet and was built in 1984. Amenities include an on-site deli and a Jack Nicklaus-designed, nine-hole putting green. “This transaction helps to mitigate risk in a single office campus that represents 57 percent of our company’s overall …

February 20, 2017

California Loans Office Western

Quantum Capital Arranges $47M Refinancing for Mixed-Use Project

by Nellie Day February 17, 2017

CULVER CITY, CALIF. — Quantum Capital Partners has arranged $47 million in refinancing for Platform, a 75,000-square-foot office and retail property located in the Hayden Tract district of Culver City. The borrower, Runyon Group, will use the proceeds to retire construction debt and equity on the property, which was completed in late 2016. Mike Yim and Jonathan Hakakha of Quantum arranged the 10-year, non-recourse loan through Wells Fargo for the borrower. The 75,000-square-foot project features approximately 40,000 square feet of office space and 35,000 square feet of retail and restaurant space. The retail portion is currently 98 percent leased to a variety of tenants including Reformation, Magasin, SoulCycle, The Shop, Loqui, Blue Bottle Coffee, Van Leeuwen, Sweetgreen and The Cannibal.

February 17, 2017

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