Office

M&M Brokers Sale of 205,771 SF Office Complex in Metro Dallas

by Haisten Willis May 10, 2016

ADDISON, TEXAS — Marcus & Millichap has arranged the sale of The Forum at Beltline, a three-building, 205,771-square-foot office complex in Addison. Hebert Lawrence and Michael Lawrence of the firm’s Newport Beach, Calif., office represented the seller, a Delaware-based limited liability company. The complex is located in the far north Dallas office submarket at 4002, 4004 and 4006 Belt Line Road. The location, on the southwest corner of Belt Line and Surveyor roads, is known as Addison’s “restaurant row.” The buildings are 1.5 miles west of the Dallas North Tollway, 2.4 miles north of I-635 and four miles south of the George Bush Turnpike. A Dallas Area Rapid Transit (DART) bus stop and many restaurants are nearby. Built in 1983, The Forum at Beltline was 94 percent leased at the time of the sale.

May 10, 2016

J+R Group Purchases Office Building in Irvine for $66M

by Nellie Day May 10, 2016

IRVINE, CALIF. — J+R Group has purchased a 191,849-square-foot office building in Irvine for $66 million. The Class A building is located at 1901 Main St. The building is fully leased to three tenants. It was built in 2001, immediately adjacent to John Wayne Airport and Interstate 405. JLL’s Joe Bevan represented J+R Group, and the firm was retained to handle the building’s property management as well. Jeff Cole and Ed Hernandez of Cushman & Wakefield represented the seller, Piedmont Office Realty Trust, in this transaction.

May 10, 2016

California Office Western

Intercontinental Real Estate Buys Apollo at Rosecrans Office Campus in El Segundo

by Nellie Day May 10, 2016

LOS ANGELES — Intercontinental Real Estate Corp. has purchased Apollo at Rosecrans, a 546,833-square-foot creative office campus in the Los Angeles submarket of El Segundo, for an undisclosed sum. The four-building, 13-acre campus is located at 2150, 2120, 2121 and 2175 Park Place, along the Rosecrans Corridor, a hotspot for tech and creative companies. Apollo at Rosecrans is 98 percent leased. Amenities include concrete floors, African Mahogany accent panels, LED strip accent lights, a basketball court, dog park, biking and walking trails, shower facilities and an outdoor fireplace. NGKF’s Kevin Shannon and CBRE represented the sellers, Invesco Real Estate and Second Street Ventures, in this transaction.

May 10, 2016

Florida Office Southeast Top Stories

Dockerty Romer & Co. Arranges $105.3M Acquisition of Aventura Corporate Center in Suburban Miami

by Katie Sloan May 10, 2016

AVENTURA, FLA. — Dockerty Romer & Co. has arranged the $105.3 million acquisition of Aventura Corporate Center, a 242,244-square-foot office complex located in Aventura, roughly 18 miles outside of Miami. The Class A property, located along Biscayne Boulevard, comprises two five-story buildings, one six-story building and three parking garages with additional development rights. Major tenants at the complex include Morgan Stanley, South Broward Hospital, Regus and Serendipity Labs. Buildings I and II, located at 20801 and 20803 Biscayne Blvd., were constructed in 1987 and 1988, respectively, and underwent renovations in 2005. Building III, located at 20807 Biscayne Blvd., was built in 2007. Bob Dockerty of Dockerty Romer & Co. arranged the transaction on behalf of the 1031 exchange buyer, Renaissance Aventura LLC. HFF represented the seller, ACC/GP Development LLC and ACC/GP Investment LLC, in the transaction. The 1031 exchange buyer, which is affiliated with investors Kenneth and Robert Fishel, sold an asset located in Manhattan before acquiring Aventura Corporate Center. The investors primarily own multifamily and office assets across the New York City metro area. Dockerty Romer also secured a seven-year, $50 million acquisition loan on behalf of the buyer through Prudential Mortgage Capital Co. Since its inception in January 2000, …

May 10, 2016

Features Hospitality Industrial Multifamily Office Retail Top Stories

U.S. Commercial Property Values See 7 Percent Annual Growth, According to Ten-X

by Haisten Willis May 10, 2016

IRVINE, CALIF. — Commercial real estate values in the United States increased by 7 percent from April 2015 to April 2016, according to Ten-X, an online real estate marketplace. The company has released its latest Commercial Real Estate (CRE) Nowcast. The pricing index, which combines Google Trends data, Ten-X’s proprietary transaction data and investor surveys to forecast CRE pricing trends in real time, reveals that commercial valuations increased by 0.6 percent month-over-month in April and are back above their year-end 2015 level. The Ten-X CRE Nowcast (formerly the Auction.com CRE Nowcast) is a price index covering the entire U.S. commercial market, including individual price trends for the office, apartments, retail, industrial and hotel sectors. “Even though the April all-sector increase is significantly stronger than the prior month’s slight gain of 0.2 percent, this still is the slowest annual growth rate from pricing for the cycle,” says Ten-X chief economist Peter Muoio. “April’s uptick in growth was seen across all major CRE sectors except hotel, where that segment’s fundamentals, as well as its pricing, continue dwindling. Meanwhile, the multifamily sector displayed the strongest pricing trends with a 1.8 percent gain in April.” The Ten-X Hotel Nowcast dipped 1 percent from March …

May 10, 2016

Office Texas

Bob Moore Breaks Ground on GM Financial’s Regional Service Center in San Antonio

by Haisten Willis May 9, 2016

SAN ANTONIO — Bob Moore Construction has broken ground on a regional financial servicing center in San Antonio for GM Financial Credit Inc. The servicing center is the fifth in North America for GM Financial. The new facility is projected to employ up to 700 people in the Westover Hills area of the city. The project received a $2.5 million grant from the Texas Enterprise Fund, as well as tax incentives from the city of San Antonio and Bexar County. San Antonio-based RVK Architects is the architect and Pape-Dawson Engineers Inc. is the civil engineer. The new building will include 100,000 square feet of office and call center facilities over two floors. The building will also include 720 parking spaces for employees and guests. The building is projected to go into operation in mid-2017.

May 9, 2016

Hospitality Mixed-Use Multifamily Office Texas

Seguin Main Street Program Buys Historic Hotel in Downtown Seguin

by Haisten Willis May 9, 2016

SEGUIN, TEXAS — The Seguin Main Street Program has purchased the historic Aumont Hotel located at 301 N. Austin St. in Seguin. The hotel, which was built in 1916, is vacant but is designed with retail space and an event venue on the first floor, apartments on the second and third floors and office suites on the fourth floor. The almost 20,000-square foot building is celebrating its centennial this year. Suzanne Puente of Berkshire Hathaway Home Services – Don Johnson Realtors represented the buyers, Gregg Woodall and Amy Woodall of New Braunfels, in the sale. Kelley Rose of Heritage Texas Properties represented the seller, Thomas Giles, who purchased the building in 2003 and rehabbed it into its current form. The buyers plan to renovate the apartments and offer premier residential rental space, as well as maintain the retail and office space with minor upgrades.

May 9, 2016

New Jersey Northeast Office Retail

Stonegate Realty Acquires 27,000 SF Office, Retail Building in New Jersey

by Amy Works May 9, 2016

TEANECK, N.J. — Stonegate Realty has acquired an office and retail building located at 545 Cedar Lane in Teaneck. 545 Cedar Lane Associates LLC sold the 27,000-square-foot property for an undisclosed price. The property features dedicated loading dock and freight facilities, as well as 8,300 square feet of retail space. James Postell, Rick Rizzuto and Dan Ligoner of Transwestern Realty represented the seller in the transaction.

May 9, 2016

Office Texas

Fairfield Advisors Arranges $5.2M Sale of Medical Office Building in Houston

by Haisten Willis May 9, 2016

HOUSTON — Fairfield Advisors has arranged the $5.2 million sale of the University of Texas Physicians medical office building located at 11476 Space Center Blvd. in Houston. University of Texas Physicians is the anchor tenant in the medical building on a long-term, triple net lease. The other tenant in the building is the Memorial Hermann Health System, which is the largest nonprofit hospital system in Texas. The seller is a local developer in Houston. The buyer is a private equity group from California.

May 9, 2016

California Office Western

Blueprint Post Production Buys Toluca Lake Office Complex for $13M

by Nellie Day May 9, 2016

LOS ANGELES — Blueprint Post Production has purchased a 60,087-square-foot office complex in the North Hollywood submarket of Toluca Lake for $13 million. The complex is located at 4142, 4144 and 4146 Lankershim Blvd. The three buildings were constructed in 1977, 1964, and 1987, respectively. They are adjacent to Universal City, near NBC Universal and CBS Paramount, as well as the 101 and 170 freeways. Stacy Vierheilig-Fraser of Charles Dunn Co. represented the post-production services company. Vierheilig-Fraser also represented the seller, Lankershim Media Center Associates, an entity of LS Capital.

May 9, 2016

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