Office

Renaissane-Square-RD-Management-Evesham-NJ

EVESHAM, N.J. — RD Management LLC has unveiled its redevelopment plans for The Shoppes and Residences at Renaissance Square, located on Route 70 in Evesham. Formerly known has Tri-Towne Plaza, the center offers 112,245 square feet of mixed-use space. The redevelopment includes the addition of five buildings, containing 338 apartments; an open space with jogging paths, walkways and a pond; new signage; upgrades to the retail portion; and the addition of new retail and restaurant facilities to the existing space. The development is scheduled to commence in spring 2016.

FacebookTwitterLinkedinEmail

TAMPA, FLA. — Dockerty Romer & Co. has arranged a $55 million acquisition loan for five Class A office buildings within the 88-acre Highland Oaks development in Tampa. Highland Oaks is currently 96 percent leased and is situated near the I-75 and I-4 interchange. The five properties span 575,852 square feet. Craig Romer of Dockerty Romer arranged the loan through J.P. Morgan on behalf of the borrower, a global real estate investment manager.

FacebookTwitterLinkedinEmail

FORT WORTH, TEXAS — Anthracite Realty Partners and Bennett Benner Partners have selected Balfour Beatty Construction to provide construction services for a high-rise in downtown Fort Worth. Balfour Beatty is engaged in shaping the project’s final scope and contract, which includes the core, shell and interior finish-out of the 25-story, 323,415-square-foot Class A commercial office tower at 640 Taylor St., which will be known as 640 Taylor. The mixed-use tower will include ground-floor retail shops, a 12th-floor lobby and conference center and an eatery featuring a 3,400-square-foot dining deck overlooking Sundance Square and Burnett Park. Adjacent to the eatery will be a 3,200-square-foot roof garden. Scheduled for completion in December 2017, 640 Taylor will be the seventh tallest building in Fort Worth and the first one to exceed 200 feet since 2009. The project will include 900 new parking spaces.

FacebookTwitterLinkedinEmail
devon

HOUSTON — Marcus & Millichap has arranged the sale of Devon Office Park, a 26,735-square-foot building located in Houston. Derek Hargrove and Justin Miller of Marcus & Millichap’s Houston office marketed the property on behalf of the seller, a Houston-based private investor. Juan Cuevas, a senior associate in Marcus & Millichap’s Houston office, secured the buyer, an out-of-state private investor utilizing a 1031 tax-deferred exchange. Devon Office Park is located at 17300 El Camino Real in Houston.

FacebookTwitterLinkedinEmail
333-Thornall-St-Edison-NJ

EDISON, N.J. — Mack-Cali Realty Corp. has acquired an office building located at 333 Thornall St. within Metropark in Edison. The 196,000-square-foot property, known as Metroview, sold for $53.1 million; the name of the seller was not disclosed. The company plans to integrate its existing building at 343 Thornall St. with the new acquisition through the construction of an interconnected, landscaped walkway, to create an approximately 400,000-square-foot campus. On-site amenities include a terraced, outdoor seating area and exercise components. The building was 96 percent leased at the time of sale.

FacebookTwitterLinkedinEmail
30-Montgomery-NJ

JERSEY CITY, N.J. — Onyx Equities and Rubenstein Partners has completed the $20 million renovation of 30 Montgomery Street in Jersey City. The 15-story, 320,000-square-foot building has been transformed into a state-of-the-art, Class A property with an additional 8,000 square feet of retail space. Improvements include a complete replacement of windows, a high-efficiency HVAC system, installation of a backup generator, a new executive conference center, modern finishes in the common areas and the addition of a ground-level, urban retail amenity, which includes a 15-foot vaulted ceiling at the front entrance and possible outside, café-style seating. Vericon Construction served as the lead contractor, while Environetics designed the building’s new features as the architect of record for the project, which took 11 months.

FacebookTwitterLinkedinEmail

ANN ARBOR, MICH. — Colliers International has arranged the sale of two attached office buildings in downtown Ann Arbor to Wickfield Properties for an undisclosed amount. The Barden family sold both buildings, located at 307-311 N. Main St., which span a total of 8,943 square feet. The Ann Arbor Credit Bureau, which formerly occupied the space, is relocating to a property it acquired at 2090 S. Main St. A ballet studio has begun occupying the building at 307 N. Main St., and Atwell LLC will occupy the building at 311 N. Main St. Jim Chaconas and Brendan Cavender of Colliers International represented both parties in the transaction. Chaconas and Cavender also represented the Ann Arbor Credit Bureau in the purchase of its new building at 2090 S. Main St.

FacebookTwitterLinkedinEmail

BURR RIDGE, ILL. — Lagestee-Mulder has purchased a 54,000-square-foot office property in Burr Ridge, a southwest suburb of Chicago, for an undisclosed amount. Burr Ridge Office Center includes 14 office suites and was 94 percent leased at the time of sale. The property is located at 361 S. Frontage Road. Lagestee-Mulder has acquired, leased constructed and developed commercial real estate in metro Chicago for more than 25 years. Alissa Adler and John Homsher of Podolsky | Circle CORFAC International represented the seller in the transaction, a private investment group. Don Price of Lagestee-Mulder represented the buyer.

FacebookTwitterLinkedinEmail
stream

SAN ANTONIO — Stream Realty Partners has completed an office development called One51 Office Centre. The speculative two-story, 101,000-square-foot office building is located in San Antonio’s Westover Hills submarket. Located at the south side of Highway 151, the Class A office building stretches across 8.3 acres. The property, owned and developed by Stream Realty, offers access to Highway 151, 50,000-square-foot plates, 615 parking spaces and green space with mature trees. Stream Realty’s Ryan Harrison and Carolyn Hinchey Shaw will lease the office property. Westover Hills houses 15 corporate campuses.

FacebookTwitterLinkedinEmail
Dallas-Arts-Center

DALLAS — Bart Dickinson of NorthMarq Capital’s Dallas office has arranged a $2.9 million acquisition loan for Dallas Arts Center, a 66,000-square-foot office property located at 2030 Main St. in Dallas’ central business district. The transaction was structured with a 15-year term and 25-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company.

FacebookTwitterLinkedinEmail