PLANO, TEXAS — Citadel Partners LLC has represented Spirent Communications Inc. in a 25,512-square-foot office lease at 800 Klein Road in Plano. Scott Jessen, Scott Morse and Andy Goldston of Citadel Partners represented the tenant, while Joe Whitmer of Transwestern represented the landlord, Liberty Property LP.
LAWRENCEVILLE, GA. — Avison Young’s Atlanta office has arranged a 91,000-square-foot office lease at 1715 N. Brown Road in Lawrenceville, a northeast suburb of Atlanta in Gwinnett County. Sage Software, an accounting and business management software firm, will lease the space for five years. Chet Koenig of Avison Young represented the landlord, Clarion Partners, in the lease transaction.
BOSTON — German investor Union Investment Real Estate GmbH has purchased 101 Seaport, a 440,000-square-foot office building in Boston, for $452 million. The seller, Skanska, developed the building, which it also uses as its Boston headquarters. Skanska broke ground on the LEED-Platinum project less than three years ago. At the time, it was Seaport Square’s first office tower. PricewaterhouseCoopers and Red Thread/Steelcase also use the building as New England headquarters. The office building includes an on-site fitness center. It is situated within walking distance of Q-Park, Seaport Square Green and the Harbor Walk, a pedestrian promenade in the city’s Seaport district. The office building is one of Skanska’s three Seaport Boulevard developments. The company is also building 121 Seaport, a neighboring office tower with ground-floor retail, and recently completed Watermark Seaport, a luxury residential tower with ground-floor retail that Skanska developed with Twining Properties. Newmark Grubb Knight Frank’s Robert Griffin Jr., Edward Maher and Matthew Pullen represented Skanska in the transaction. The firm’s Bill Anderson and David Martel represented the company on the leases as well. This is Union Investment’s third recent acquisition in Boston. “After the acquisition of the Godfrey Hotel and the Converse Headquarters at Lovejoy Wharf, we …
JERSEY CITY, N.J. — NAI James E. Hanson has arranged the sale of an office building located at 215 14th St. in Jersey City. Adithya Bathena acquired the 30,000-square-foot building from MIS for an undisclosed price. MIS plans to lease back space within the four-story building. The property also features ground-floor retail space that is currently leased to Dunkin’ Donuts. Russell Verducci and Eric Demmers of NAI Hanson represented the buyer, while Dan DePalma of JLL represented the seller in the transaction.
SAN ANTONIO — Bryan Leonard of NorthMarq Capital’s San Antonio office has arranged acquisition financing for a 25,379-square-foot office property located at 7540 Louis Pasteur Drive in San Antonio. The 10-year loan includes a 25-year amortization schedule and 75 percent loan-to-value ratio. NorthMarq Capital arranged financing for the borrower through its relationship with a local bank. The property is located in the South Texas Medical Center and is 100 percent occupied.
INDIANAPOLIS — HEARN and equity partner CrossHarbor Capital Partners have purchased the BMO Plaza in downtown Indianapolis for $40 million. True North Management Group sold the 440,000-square-foot, 28-story office building. Located at 135 N. Pennsylvania St., BMO Plaza is the sixth tallest building in Indianapolis and houses tenants such as BMO Harris Bank, the U.S. Department of Defense, General Electric and law firms Rubin & Levin and Quarles & Brady. James Hanson, Erik Foster, Bill Ehret and Nancy Merritt of Avison Young represented the seller in the transaction.
BILLERICA, MASS. — The RAM Companies has acquired a Corporate Place, a 97,403-square-foot property located at 261 and 267 Boston Road in Billerica, for $8.1 million. Built in 1985 and 1986, the Class B multi-tenant asset comprises a 61,795-square-foot facility and a 35,608-square-foot building. The flex/R&D property is 85 percent occupied with a variety of tenants, including Lahey Health Primary Care, New England Rehabilitation Hospital and SI2 Technologies. The name of the seller was not released.
NEW YORK CITY — Equicap has arranged a $55 million permanent mortgage for a commercial property located in Manhattan’s Meatpacking district. The non-recourse five-year loan features a 2.63 percent fixed interest rate and is full-term interest-only. Developed in 2008, the 80,000-square-foot property is occupied by Arhaus, a furniture retailer, and a California-based tech company. Ricky Aryeh of Equicap originated the loan for the undisclosed borrower.
BROOKHAVEN, GA. — Emory University has purchased roughly 60 acres of commercial property at Executive Park, an office park located near the interchange of North Druid Hills Road and I-85 in Brookhaven. The private university purchased the property, totaling roughly 400,000 square feet of office space in nine buildings, from Equity Commonwealth for an undisclosed price. Emory has several programs operating at Executive Park, including Orthopaedics, Brain Health, Medical Science Education, Continuing Education and Health Information Technology, according to James Wagner, president of Emory University.
NEW YORK CITY — MHP Real Estate Services, in a partnership with HNA Property Holdings, has acquired 850 Third Avenue, a 617,000-square-foot office building in New York. Shorenstein Properties sold the 21-story building in an off-market transaction. MHP will serve as the operating partner of the joint venture, with HNA serving as majority partner. Morgan Stanley provided approximately $238 million in financing for MHP in the transaction, according to The Real Deal. The financing consists of a $210 million acquisition loan, a $17 million building loan, a $465,000 project loan and $10 million in debt transferred from the seller. The building, located between East 51st and 52nd streets, marks the second joint venture between MHP and HNA, with the partnership now owning more than 1 million square feet of office space. HNA will set up its U.S. headquarters at the property. Other tenants include Discovery Communications, Radio One and the City of New York. “The Midtown East office market is experiencing an extraordinary renaissance that will further redefine the city and reshape a time-tested enclave of New York business,” says Norman Sturner, CEO of MHP Real Estate Services. “The East Side rezoning efforts, along with the area’s existing transportation infrastructure and addition of the Second …
