Office

Equus Sells 202,033 SF Office/Retail Property in Boston for $77.5M

by Jaime Lackey October 30, 2015

BOSTON — Equus Capital Partners Ltd., a private equity fund manager, has sold 18 Tremont Street in Boston to an affiliate of DLJ Real Estate Capital Partners for $77.5 million ($384 per square foot). The 12-story, 202,033 square-foot office/retail property was 88 percent leased at the time of sale. Frank Petz and Matt Sherry of Jones Lang LaSalle’s Boston office represented the seller and buyer in the transaction. Equus acquired the property in 2007 on behalf of one of its value-add funds, BPG Investment Partnership VIII and VIIIA LP (a $550 million dollar equity fund), and has since worked to modernize the 100-year-old U-shaped building.

October 30, 2015

Michigan Midwest Office

Friedman Brokers Sale of 14,050 SF Office Property in Farmington Hills, Michigan

by Christina Cannon October 30, 2015

FARMINGTON HILLS, MICH. — Friedman Integrated Real Estate Solutions has brokered the sale of a 14,050-square-foot office building located at 30375 Northwestern Highway in Farmington Hills, a northwest suburb of Detroit. 30375 Northwestern Highway LLC sold the building to Northwestern Investment Co. for an undisclosed price. Todd Hawley and Rick Kaplan of Friedman represented the seller in the transaction.

October 30, 2015

Office Southeast Virginia

NAI KLNB Brokers $15.3M Sale of Office Building in Northern Virginia

by Jeff Shaw October 30, 2015

FAIRFAX CITY, VA. — NAI KLNB has brokered the $15.3 million sale of Mosby Tower, a six-story, 114,000-square-foot office building located in Fairfax City in northern Virginia. The seller, Premier Suites LLC, recently invested $250,000 to transform the former apartment community into a small office suite complex. The buyer, Korth Investment Properties Group, was self-represented. Christopher Kubler, Brad Berzins and Josh Simon of NAI KLNB represented the seller in the transaction.

October 30, 2015

New York Northeast Office

KKR to Buy 343,000 SF of Office Space at Hudson Yards Tower

by Jaime Lackey October 29, 2015

NEW YORK CITY — KKR & Co. LP, a global investment firm, will purchase approximately 343,000 square feet (the top ten office floors) at 30 Hudson Yards and will relocate its corporate offices to the office tower in 2020. Related Cos. and Oxford Properties Group are developing 30 Hudson Yards. Designed by Bill Pedersen of Kohn Pedersen Fox, the 90-story tower will strive for LEED Gold certification. KKR is the second commercial office tenant to invest in and plan a move to 30 Hudson Yards. In January 2014, Time Warner Inc. acquired approximately 1.5 million square feet of space in the building for its 5,000-plus employees. KKR is the seventh corporate office tenant to announce plans to move to Hudson Yards. Boies, Schiller & Flexner will move its New York City offices to 55 Hudson Yards. Coach Inc. has purchased more than 600,000 square feet of space in 10 Hudson Yards, L’Oréal USA, German software engineering firm SAP and social media-first digital agency VaynerMedia will locate at 10 Hudson Yards when the building opens in early 2016.

October 29, 2015

Michigan Midwest Office

Friedman Brokers Sale of 19,346 Medical Office Building Near Detroit

by Christina Cannon October 29, 2015

LIVONIA, MICH. — Friedman Integrated Real Estate Solutions has brokered the sale of a 19,346-square-foot medical office building in Livonia, a northwest Detroit suburb. PAK Real Estate Properties LLC sold the building to Premiere Offices LLC for an undisclosed amount. Premiere Offices is the existing tenant and will continue to use the space as psychiatric offices. Dan Verderbar of Friedman represented the seller in the transaction.

October 29, 2015

Office Southeast Virginia

Federal Capital Partners Acquires One Dulles Tower in Virginia for $84M

by John Nelson October 29, 2015

HERNDON, VA. — Federal Capital Partners (FCP) has purchased One Dulles Tower, a 400,000-square-foot, Class A office building located at 13200 Woodland Park Drive in Herndon, for $84 million. The property is located two miles east of Dulles Airport and a half-mile from both the future Herndon and Innovation Center Silver Line Metro stations. The office tower is fully leased by Booz Allen Hamilton, a business management consultant that will vacate the property before the end of the year. Bill Collins, Paul Collins, James Cassidy, Jud Ryan and Drew Flood of Cushman & Wakefield represented the seller, Corporate Office Properties Trust, in the transaction.

October 29, 2015

North Carolina Office Southeast

CBRE Brokers $27M Sale of Office Park in Metro Charlotte

by John Nelson October 29, 2015

HUNTERSVILLE, N.C. — CBRE has brokered the $27 million sale of Kenton Circle, a 135,757-square-foot, three-building office park in Huntersville, part of the North Charlotte office submarket. Kenton Circle’s anchor tenants include Bank of America Merrill Lynch, Wells Fargo, Berkshire Hathaway HomeServices Carolinas Realty and IMG. A joint venture between Acre Valley Real Estate Capital LLC and ABS Partners Real Estate LLC purchased the property from Childress Klein and WHI Real Estate Partners LLC. Childress Klein will continue to serve as property manager and leasing agent for the new owner. Patrick Gildea of CBRE’s Charlotte office represented the sellers in the transaction.

October 29, 2015

Mixed-Use New York Northeast Office Retail

Quinlan and Building & Land Technology Redevelop The Pioneer Warehouse in Brooklyn

by Jaime Lackey October 28, 2015

NEW YORK CITY — Quinlan Development Group and Building and Land Technology (BLT) are redeveloping the 100-year-old The Pioneer Warehouse at 41 Flatbush Avenue in downtown Brooklyn. The $30 million redevelopment of the 10-story property, which will be renamed The Pioneer Building, will result in approximately 235,000 square feet of modern office space and 25,000 square feet of retail space ready for occupancy in second quarter 2016. Located near the Barclays Center and Atlantic Terminal, The Pioneer Building is well along in a comprehensive redevelopment to enhance the building’s barrel-vaulted terra cotta ceilings, brick walls and ornate limestone façade. The interior finishes and exterior enhancements have been designed by architects Beyer Blinder Belle. New features include new, oversized, energy-efficient windows, state-of-the-art tenant-controlled HVAC units, industrial-sized elevator cabs, a renovated lobby, a landscaped roof terrace with views of all of Downtown Brooklyn and the New York Harbor, and an on-site bicycle storage facility. The property owners have named Bruce Mosler, Mikael Nahmias, and Joseph Cirone of Cushman & Wakefield as exclusive leasing agents.

October 28, 2015

Healthcare New Hampshire Northeast Office

CBRE/NE Arranges Sale Of New Hampshire Medical Office Property

by Jaime Lackey October 28, 2015

MANCHESTER, N.H. — CBRE/New England has arranged the sale of 345 Cilley Road, a 6,096-square-foot two-story medical office building in Manchester. CBRE/NE’s Christopher Healey represented the seller, Hassell’s End Properties, and procured the buyer, Peerless Properties LLC, a privately owned company.

October 28, 2015

California Office Western

UCLA Health Signs Long-Term Lease in Rolling Hills Estates

by Nellie Day October 28, 2015

ROLLING HILLS ESTATES, CALIF. — UCLA Health has signed a long-term lease for 18,512 square feet at an office building in Rolling Hills Estates on the Palos Verdes Peninsula. The 10-year lease is valued at $5.2 million. This lease brings the Class A office building to full occupancy. It is located at 501 Deep Valley Drive. Eric Lastition and Geoff Ludwig of Colliers International represented the landlord, West Coast Capital Partners.

October 28, 2015

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