Office

Clarion Partners Acquires One Victory Park in Dallas

by Haisten Willis July 26, 2016

DALLAS — Clarion Partners has acquired One Victory Park, a 17-story, 436,253-square-foot office building located in the Uptown submarket of Dallas. Clarion purchased the asset on behalf of a commingled fund that the firm advises. One Victory Park is 95.2 percent leased to tenants in the finance, legal, real estate and professional service industries. The building, constructed in 2008, has been awarded LEED Silver status and is Energy Star-certified. Amenities include a fitness center, conference center, 24/7 security and a six-story structured parking garage. One Victory Park is located two blocks from the Victory light rail station, which services DART light rail and Trinity Railway Express.

July 26, 2016

Claudia Crow Named Director of Marketing & Brand Strategy at TCN Worldwide

by Haisten Willis July 26, 2016

DALLAS — Claudia Crow has been named director of marketing and brand strategy for TCN Worldwide’s international real estate services organization. Crow brings nearly two decades of commercial real estate and marketing experience to her position, including 14 years with TCN Worldwide in the roles of marketing and public relations from 2000 through 2014. She was most recently the managing director of commercial services for a real estate brokerage firm in Dallas. Crow has an MBA from the University of North Texas.

July 26, 2016

New Jersey Northeast Office

Mack-Cali Realty Sells 100,000 SF Office Building in New Jersey

by Amy Works July 26, 2016

PARSIPPANY, N.J. — Mack-Cali Realty has completed the disposition of an office building, located at 600 Parsippany Road in Parsippany. A joint venture between Bukiet Building Management and Mountain Development Corp. purchased the 100,000-square-foot building free and clear of existing debt for an undisclosed price. The three-story building was 92 percent leased at the time of sale to a variety of tenants, including Aerotek, Level 3 Communications, Sonneborn, Certified Financial Services, Inglesino, Webster, Wyciskala & Taylor, Property Title Group and Dewberry. Jose Cruz, Kevin O’Hearn, Michael Oliver, Stephan Simonelli and Marc Duval of HFF represented the seller in the deal.

July 26, 2016

North Carolina Office Southeast

KBS REIT Sells Office Building in Charlotte for $30.5M

by John Nelson July 26, 2016

CHARLOTTE, N.C. — KBS Real Estate Investment Trust Inc. (KBS REIT) has sold Gateway Center, a 10-story, 310,745-square-foot office building located at 901 W. Trade St. in Charlotte’s central business district. An undisclosed buyer purchased the asset for $30.5 million. The property is within walking distance of Greyhound and Light Rail stations, in addition to Bank of America Stadium, home of the NFL’s Carolina Panthers. Gateway Center was 90 percent leased at the time of sale to tenants such as Bank of America and Johnson & Wales University. Amenities include a sundries shop and a 149-space, below-grade parking facility. The sale includes a 1.6-acre parcel currently used as a 29-space surface parking lot. Ryan Clutter, Scot Humphrey, Ralph Smalley and Christopher Lingerfelt of HFF represented KBS REIT in the sale.

July 26, 2016

Midwest Minnesota Office

Opus Completes 222,000 SF Headquarters Building in Downtown Minneapolis for Xcel Energy

by Christina Cannon July 26, 2016

MINNEAPOLIS — The Opus Group has completed a new office headquarters property for Xcel Energy in downtown Minneapolis. The 222,000-square-foot project is located at the north end of Nicollet Mall, a 12-block shopping, dining and commercial district. 401 Nicollet is a two-building campus that consolidated operations that were previously spread throughout Minneapolis. The complex features collaborative work spaces with flexible furniture, technology and conference areas, as well as a skyway that connects the two nine-story buildings.

July 26, 2016

Georgia Office Southeast

Pope & Land Acquires Siemens Office Building in Metro Atlanta

by John Nelson July 26, 2016

ALPHARETTA, GA. — Pope & Land Enterprises Inc., with assistance from capital advisor Patterson Real Estate Advisory Group, has purchased a five-story, 113,000-square-foot office building located on a 10.2-acre parcel at 3333 Old Milton Parkway in Alpharetta. Siemens, which will be vacating the property in August, sold the asset to Pope & Land for an undisclosed price. Patterson arranged debt financing through The Brand Banking Co. for the office acquisition. The building is situated adjacent to 27 acres of land that Pope & Land owns, as well as a mile from Avalon and GA 400. Siemens has owned and operated the office asset since the company built it in 1987.

July 26, 2016

Office Top Stories

Workspace Property Trust to Acquire 108 Office and Flex Properties from Liberty Property Trust for Nearly $1B

by Katie Sloan July 26, 2016

HORSHAM, PA. — Horsham-based Workspace Property Trust (WPT), in partnership with global investment firm Safanad, has agreed to buy 108 office and flex buildings from Liberty Property Trust (NYSE: LPT) for approximately $969 million. The acquired properties — located in Arizona, Florida, Minnesota and Pennsylvania — total roughly 7.6 million square feet. The sale is expected to close before the fourth quarter of this year. Of the 30 properties to be acquired in Pennsylvania, two dozen are located within the Great Valley Corporate Center in Malvern, according to reports by The Philadelphia Business Journal. The balance of the portfolio is largely located in Florida, with 34 buildings to be acquired in the Tampa market and 11 properties to be acquired in Southern Florida. At the closing of the transaction, WPT’s total portfolio will be composed of approximately 9.9 million square feet of leasable space across 149 properties in five markets. Workspace Property Trust specializes in the development, management and operation of office and flex space. The company is a partnership between Rizk Ventures, Forum Partners, JMP Group, EverWatch Capital and, with the closing of this transaction, Safanad. Liberty Property Trust is an $8.2 billion real estate investment trust, which owns …

July 26, 2016

California Office Western

AEssense Expands, Relocates to Sunnyvale

by Nellie Day July 25, 2016

SUNNYVALE, CALIF. — Aessense is consolidating, expanding and relocating its headquarters and R&D facility to Sunnyvale. The 16,260-square-foot, single-story building is located at 1281 Reamwood Drive. The Class A flex property has been fully renovated. It is situated near Highway 237 and the Lawrence Expressway. The developer of aeroponic plant growth systems and products is currently located at 1400 Terra Bella Ave. in Mountain View and 1220 Alderwood Drive in Sunnyvale. The company has nearly tripled its size. It will occupy the new space in October. AEssense is a Pan-Pacific company with a significant manufacturing facility in Shanghai. Scott Kinder of Savills Studley represented AEssense, while Greg Davies, Steve Horton, Alan Guterman and Kelly Yoder of Cushman & Wakefield represented the landlord, WTA Reamwood LLC, in this transaction.

July 25, 2016

Massachusetts Mixed-Use Northeast Office Retail

GLL Real Estate Partners Sells Mixed-Use Building in Boston for $42.1M

by Amy Works July 25, 2016

BOSTON — GLL Real Estate Partners has completed the disposition of a mixed-use building located at 70 Franklin St. in Boston. Deka acquired the 85,977-square-foot property for $42.1 million. At the time of sale, the building was 91 percent leased to eight tenants, including TIAA-CREF, Jos. A. Bank and Papyrus. Robert Griffin, Edward Maher and Matthew Pullen of Newmark Grubb Knight Frank represented the seller in the transaction.

July 25, 2016

Office Texas

M&M Arranges Sale of 4,980 SF Net Leased Property in Rio Grande Valley

by Haisten Willis July 25, 2016

LA FERIA, TEXAS — Marcus & Millichap has arranged the sale of La Feria Post Office, a 4,980-square-foot net leased property located in La Feria. Foster Best, Stephen Berchelmann and Chad Knibbe of Marcus & Millichap’s San Antonio office marketed the property on behalf of the seller, a private investor. Michael Shall of the firm’s Portland office secured and represented the buyer, a limited liability company. La Feria Post Office is located at 123 W. First St. The property is situated on one acre and includes a concrete parking area. A 10-year primary lease term is in place with over four years remaining on the first of two renewal options. The property is located within the city’s central business district and two blocks from La Feria City Hall.

July 25, 2016

Newer Posts

Older Posts