Office

Related Cos., Oxford Properties Close on $1.3B in Financing for 15 Hudson Yards

by Amy Works November 24, 2015

NEW YORK CITY — Related Companies and Oxford Properties Group have closed on $1.3 billion in financing to fund 15 Hudson Yards, the first residential tower at the 28-acre Hudson Yards mixed-use development on Manhattan’s West Side. Already under construction, the building contains both rental and condominium apartments. The 960,000-square-foot building will be completed in 2018, and sales are expected to begin in mid-2016. Designed by Diller Scofidio + Renfro and Rockwell Group to obtain LEED Gold certification, 15 Hudson Yards will be 910 feet tall and will include 285 for-sale residences throughout its 70 stories, as well as 106 rental units. The property will offer unobstructed views of the city and Hudson River. Hudson Yards is being developed by Related Cos. and Oxford Properties Group and will include 17 million square feet of commercial and residential space, more than 100 shops and restaurants, including the first Neiman Marcus in New York City, approximately 5,000 residences, 14 acres of public open space, a new 750-seat public school and a 200-room, Equinox-branded luxury hotel. 15 Hudson Yards will have frontage on the newly created plaza at the center of Hudson Yards and is also adjacent to the …

November 24, 2015

Industrial Mixed-Use New York Northeast Office Retail

Heritage Equity Partners, Lichtenstein Group to Redevelop Five Warehouses in Brooklyn

by Amy Works November 24, 2015

NEW YORK CITY — Heritage Equity Partners and Lichtenstein Group have partnered to redevelop five vacant warehouses into Bushwick Generator. The interconnected buildings at 215 Moore St. in Brooklyn will be transformed into a 75,000-square-foot light industrial, office and retail property, offering space office or workspaces ranging from 1,500 square feet to 20,000 square feet. Brooklyn-based ABS Partners has been retained as the office leasing agent for the property, which is geared toward new economy industries, including tech, creative arts and food production.

November 24, 2015

Connecticut Northeast Office

Webster Bank Leases 85,000 SF in Southington, Connecticut

by Amy Works November 24, 2015

SOUTHINGTON, CONN. — O,R&L Commercial has brokered the lease of 85,000 square feet at 200 Executive Blvd. in Southington to Webster Bank. The bank is consolidating its Cheshire and Wallingford, Conn., offices into the four-story, 150,000-square-foot office building. Webster Bank will occupy the first, second and third floors of the building, which was formerly occupied by The Hartford. Jay Morris and Robert Gaucher of O,R&L represented the landlord, Executive 200 LLC, while Drew Saunders of Jones Lang LaSalle represented the tenant in the transaction.

November 24, 2015

Loans Michigan Midwest Office

Bernard Financial Arranges $7.3M Refinancing Loan for Office Property North of Detroit

by Christina Cannon November 24, 2015

AUBURN HILLS, MICH. — Bernard Financial Group has arranged a $7.3 million refinancing loan for Five Point Medical Office Building in Auburn Hills, approximately 33 miles northwest of Detroit, and is 53,000 square feet. Five Points Professional Office Building LLC is the borrowing entity. Dennis Bernard and Kevin Kovachevich of Bernard Financial originated the CMBS loan.

November 24, 2015

7000 Central Park Atlanta Central Perimeter

Georgia Office Southeast

CBRE Global Investors Acquires Office Building in Atlanta’s Central Perimeter for $85.3M

by John Nelson November 24, 2015

ATLANTA — CBRE Strategic Partners U.S. Value 7 has purchased 7000 Central Park, a 415,490-square-foot, Class A office building located in Atlanta’s Central Perimeter submarket, for $85.3 million. The 18-story office building was 86 percent occupied at the time of sale. The property includes amenities such as an on-site management office, café, Wi-Fi lounge, conference facility, EV charging stations, outdoor lakeside dining area, covered parking and walkways and a 7,200-square-foot fitness center. The seller was a joint venture in which Parkway Properties Inc. owns a 40 percent interest.

November 24, 2015

Office Southeast Tennessee

Marcus & Millichap Brokers $11.9M Sale of Office Building in Knoxville

by John Nelson November 24, 2015

KNOXVILLE, TENN. — Marcus & Millichap has brokered the $11.9 million sale of Farragut Pointe, a 71,406-square-foot office building located at 11132 Kingston Pike in Knoxville. Formerly a retail building, the office property was 100 percent leased at the time of sale to office and medical office tenants. Gary Lee, Paul Johnson, Korey Prefontaine, Don McMinn, Zachary Taylor and Tyler Fish of Marcus & Millichap represented the seller, an unnamed private partnership, in the transaction. Jason Yukins of Marcus & Millichap’s Fort Lauderdale, Fla., office secured and represented the buyer, a limited liability company. Michael Fasano is Marcus & Millichap’s broker of record in Tennessee.

November 24, 2015

Office Texas

Colvill Office Properties Closes 19,457 SF Office Lease in Houston

by Haisten Willis November 23, 2015

HOUSTON — Colvill Office Properties has leased, on behalf of Hines, 19,457 square feet of office space to Champions Pipe & Supply at 4 Greenspoint Place. The property is a 403,384-square-foot, Class A office building located in the 36-acre Greenspoint Place office/retail development at 16925 Northchase Drive. Kevin Saxe, Jerrod McQuain and Nick Bockhorn of CBRE represented Champions Pipe & Supply. Damon Thames, Richard Barbles and Tripp Pruet of Colvill Office Properties represented the landlord in lease negotiations. Hines owns and manages Greenspoint Place.

November 23, 2015

Industrial Michigan Midwest Office

Colliers Arranges 26,280 SF Flex Lease in Michigan

by Christina Cannon November 23, 2015

ROCHESTER HILLS, MICH. — Colliers International has arranged a 26,280-square-foot flex lease in Rochester Hills, approximately 30 miles north of Detroit. Nichols Paper & Supply Co. leased the space from ADCO Investments LLC and will use the property as a warehouse for distributing paper and janitorial supplies. Gary Glotzhober of Colliers International represented the tenant in the transaction. The property is located at 1685 Northfield Drive.

November 23, 2015

Colorado Office Western

First National Bank of Santa Fe Leases Headquarters Space in Denver

by Nellie Day November 20, 2015

DENVER — First National Bank of Santa Fe has signed a 10-year lease for 22,198 square feet of office space in Denver. The space is located at 1400 16th St. in the LoDo (Lower Downtown) district. First National Bank of Santa Fe is composed of First National Denver, First National Santa Fe and First National Rio Grande. Dorit Fischer and Hayden Hirschfeld represented the bank in this transaction. Todd Wheeler of Cushman & Wakefield represented the landlord.

November 20, 2015

North Carolina Office Southeast

Avison Young Arranges $14.4M Sale of Atlantic Business Park in Raleigh

by John Nelson November 20, 2015

RALEIGH, N.C. — Avison Young has brokered the $14.4 million sale of Atlantic Business Park, a two-building, 10-acre office campus located at 4401 and 4501 Atlantic Ave. in north Raleigh. The office campus totals 114,365 square feet and was fully leased at the time of sale to tenants such as Advance Auto Parts Inc., City of Raleigh Police Department and Regional Acceptance Corp., a division of BB&T. Braxton Anthony and Gary Lyons of Avison Young’s Raleigh office represented the sellers, SJ Co. LLC and SJ1 Co. LLC, in the transaction. William Allen of Trinity Partners represented the buyers, 4401 Atlantic Avenue LLC and 4501 Atlantic Avenue LLC.

November 20, 2015

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