Office

JLL Arranges 66,000 SF Office Lease at Meridian Premier Center in Tampa

by John Nelson February 1, 2016

TAMPA, FLA. — JLL has completed a 66,000-square-foot office lease at Meridian Premier Center, a 103,521-square-foot, Class A office center in Tampa’s affluent Carollwood neighborhood. The tenant is Comprehensive Health Management Inc., a provider of administrative services for health maintenance organizations. Jim Moler and Deana Beer of JLL represented the landlord, Meridian Development Group, in the lease deal. David Johnson, Liz Osborne and Jimmy Garvey of Cushman & Wakefield represented the tenant. Built in 1997 and renovated in 2014, Meridian Premier Center was 96 percent leased following Comprehensive Health Management’s lease.

February 1, 2016

Office Texas

CBRE Arranges Office Lease Renewal in Houston

by Haisten Willis January 29, 2016

HOUSTON — CBRE has completed an office lease renewal for InterMoor, a supplier of mooring technology, innovative solutions and equipment for permanent and temporary mooring systems. InterMoor occupies 20,923 square feet at Ashford 7, located at 900 Threadneedle St. in Houston. Kevin Saxe and Connor Tamlyn of CBRE represented InterMoor in lease negotiations with landlord, Accesso Partners, which was represented by Bob Cromwell with Moody Ramblin.

January 29, 2016

Michigan Midwest Office

NAI Wisinski of West Michigan Arranges 2,675 SF Office Lease in Grand Rapids

by Christina Cannon January 29, 2016

GRAND RAPIDS, MICH. — NAI Wisinski of West Michigan has arranged the lease of a 2,675-square-foot office building in Grand Rapids. Simple Truth Chiropractic is relocating to the building at 2757 Leonard St. NW from its current location at 831 Fuller Ave. The space is currently undergoing renovations, which are expected to be complete by the end of the first quarter. Mary Anne Wisinski-Rosely, Jason Makowski and Cameron Timmer of NAI represented the landlord, Leonard Street Properties LLC, in the transaction. Olga Halstead of Results by Olga represented Simple Truth Chiropractic.

January 29, 2016

California Office Western

Seagate Properties, RGA Acquire The Atrium Office Building in San Mateo for $61.6M

by Nellie Day January 29, 2016

SAN MATEO, CALIF. — A joint venture between Seagate Properties and RGA Real Estate Investments has purchased The Atrium, a 163,791-square-foot office building in Silicon Valley, for $61.6 million. The Class A property is located at the intersection of Highway 101 and 92. It is situated 20 miles south of Downtown San Francisco and 15 miles north of Stanford University. The Atrium is currently 90 percent occupied. The largest tenant at the site is Prometheus Real Estate Group. The building was constructed in 1983. It recently underwent a $300,000 renovation. Steven Hinds and Peter Ryan of George Elkins Mortgage Bank helped facilitate the joint venture between Seagate and RGA. Steve Herman, Eric Fox and Bob Gilley of Cushman & Wakefield represented the seller, Prometheus, in this transaction.

January 29, 2016

Arizona Office Western

Cushman & Wakefield Arranges $8.5M Sale of Office for Conversion to Assisted Living

by Nellie Day January 28, 2016

PHOENIX — Cushman & Wakefield has arranged the sale of the former Giant Industries corporate headquarters office building in Phoenix for $8.5 million. United Insurance Co. of America sold the asset to Generations at Pinnacle Peak LLC, a Michigan-based investor that plans to convert the office property into an assisted living community. The two-story building was constructed in 1989 and contains approximately 66,283 square feet of space. The structure is situated on four acres of land. Larry Downey, vice chairman for Cushman & Wakefield, represented the seller in the transaction.

January 28, 2016

Arizona Office Western

Gabriel Partners Expands Office Space in Phoenix

by Nellie Day January 28, 2016

PHOENIX — Gabriel Partners has signed a long-term agreement for 19,202 square feet of office space in downtown Phoenix. The space is located at 40 North Central Ave. The technology-based, anti-money-laundering company will occupy the entire 22nd floor. Ryan Bartos and Matthew Coxhead of Savills Studley represented Gabriel Partners in the transaction. Pat Divine of Cushman and Wakefield represented the landlord.

January 28, 2016

Midwest Office

Friedman Arranges 27,596 SF Office Lease in Detroit Suburb

by Christina Cannon January 28, 2016

FARMINGTON HILLS, MICH. — Friedman Integrated Real Estate Solutions has arranged a 27,596-square-foot office lease in Farmington Hills, approximately 25 miles northwest of Detroit. AGC Flat Glass North America, one of the largest manufacturers of glass and glass-related products for the automotive industry in North America, will occupy the space located at 34505 W. Twelve Mile Road. The building will serve as the new headquarters location for AGC Flat Glass. David Friedman and Amit Hingorani of Friedman represented the landlord, Arboretum II, in the transaction.

January 28, 2016

Industrial Office Texas

Mercedes-Benz to Open New Facilities in Metro Dallas

by Haisten Willis January 27, 2016

GRAPEVINE, TEXAS — Mercedes-Benz plans to open two facilities in Grapevine. The first is a regional parts distribution center (PDC) designed to support the sales and distribution of spare parts to the customers and dealer network of Mercedes. The second is a learning and performance center (LPC). The LPC is relocating from Houston to the Grapevine site and is planned to be a technical facility accommodating on-going training of Mercedes-Benz dealership technicians from around the Southwest region. Currently owned by the city of Grapevine, the site consists of around 31 acres along Lakeside Parkway at Enterprise Road. Once fully operational, both the training facility and parts distribution center will be staffed with 50 employees with the ability to train 150 technicians per week. The PDC is planned to be 254,000 square feet and the LPC is 59,000 square feet. Seefried Industrial Properties, in partnership with a long-time European capital partner, is the purchaser of the land and developer for this project. Mercedes has executed a development agreement with Seefried Properties and will purchase the project upon completion. Design of the two facilities is underway and will be submitted for permitting in February 2016. The initial site work will start this …

January 27, 2016

Loans Office Texas

Ready Capital Secures $18M Loan for Office Building in Dallas

by Haisten Willis January 27, 2016

DALLAS — Ready Capital Structured Finance, a nationwide commercial real estate bridge and mezzanine lender, has closed an $18 million loan for the recapitalization and stabilization of an office building in Dallas. The 18-story, 183,000-square-foot property is located on Ervay Street in downtown Dallas’ central business district. Known locally as Alto 211, the building originally catered to traditional office users but has undergone substantial renovations transforming it into modern, creative office space. The non-recourse, three-year loan features flexible pre-payment options and two one-year extension options, including a facility to provide future funding encompassing tenant improvements, leasing commissions and capital expenditures.

January 27, 2016

Healthcare Office Texas

Venture Completes Sale of Net Leased Property in Metro Dallas

by Haisten Willis January 27, 2016

THE COLONY, TEXAS — Venture Commercial Real Estate’s investment sales team has completed the sale of a 7,400-square-foot single-tenant net-leased property located along State Highway 121 in The Colony. Methodist Urgent Care occupies the building located at 5151 SH 121, in front of Top Golf and across from Nebraska Furniture Mart’s Grandscape development. John Zikos, Jonathan Cooper, Christopher Gibbons and Don Miller of Venture represented the developer, NDC Holdings. Leonard Mazzone of New York-based Hamilton Mundy Real Estate Advisors represented the buyer, an out-of-state investor.

January 27, 2016

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