Office

Duke Realty, Baylor Scott & White Break Ground on 75,000 SF Baylor McKinney II MOB Near Dallas

by Haisten Willis October 2, 2015

MCKINNEY, TEXAS — Baylor Scott & White Health, a not-for profit healthcare system, along with Duke Realty, an Indianapolis-based commercial real estate developer, have begun developing the 75,000-square-foot, three-story Baylor McKinney II medical office building (MOB) at 5252 W. University Drive in McKinney. The MOB will be located on the Baylor Medical Center at McKinney campus adjacent to Baylor McKinney I, a 114,924-square-foot MOB which opened in 2012. Baylor McKinney MOB II is expected to be complete in September 2016. The Dallas office of Medco Construction is the general contractor for the project, and the Dallas office of HDR is the architect.

October 2, 2015

Mississippi Office Southeast

Hertz Investment Group Buys City Centre in Jackson’s CBD for $6.2M

by John Nelson October 2, 2015

JACKSON, MISS. — Hertz Investment Group, a Santa Monica, Calif-based commercial real estate investor and manager, has acquired the 266,700-square-foot City Centre located at 200 S. Lamar St. in Jackson’s central business district (CBD). Hertz purchased the two-tower, Class A office property from Parkway Properties for $6.2 million. The office property was 87 percent leased at the time of sale to a tenant mix comprising law firms, government agencies and insurance companies. City Centre was renovated in 1987 and features two lobbies with marble finishes and an atrium with black granite and mahogany panels. In addition to City Centre, Hertz’s downtown Jackson portfolio includes the Pinnacle, One Jackson Place, 111 East Capitol, Regions Plaza and Regions Bank Building. The investor’s overall portfolio spans more than 19 million square feet of office space in 20 cities across 15 states.

October 2, 2015

Loans New York Northeast Office

Meridian Capital Arranges $50M in Refinancing for Crossroads Office Portfolio in New York

by Amy Works October 2, 2015

HAUPPAUGE AND ISLANDIA, N.Y. — Meridian Capital Group has negotiated $50 million in permanent financing to refinance the Crossroads Office Portfolio in Hauppauge and Islandia. The Matrix Group was the borrower. Jeffries LoanCore LLC provided the 10-year CMBS and mezzanine financing package. The portfolio contains two adjacent office parks, Crossroads Corporate Center and Crossroads Executive Park, totaling 14 buildings and 392,000 square feet. The properties are located at 1363-1393 Veterans Memorial Highway in Hauppauge and 1707-1797 Veterans Memorial Highway in Islandia. The multi-tenant properties were constructed between 1984 and 1989. Tal Bar-Or, Judah Neuman and Kyle Kite of Meridian Capital Group arranged the financing.

October 2, 2015

Connecticut Loans Northeast Office

EagleBridge Capital Arranges $20.7M Sale, $15M Loan for Office Property in Connecticut

by Amy Works October 2, 2015

HARTFORD, CONN. — EagleBridge Capital has arranged the sale of Saint Francis Information Technology and Finance Center in Hartford. Located at 103 Woodland St., the five-story, 57,753-square-foot office property sold for $20.7 million. The building is triple-net leased to Saint Francis Hospital & Medical Center on a long-term basis and houses administrative, information technology and finance offices. In addition, EagleBridge Capital arranged $15 million in permanent mortgage financing for the property. Ted Sidel and Brian Sheehan of EagleBridge Capital arranged the sale and financing.

October 2, 2015

California Office Western

Trio Purchases Land in San Jose for Multi-Phase Development

by Nellie Day October 2, 2015

SAN JOSE, CALIF. — Multi-Employer Property Trust (MEPT), Bentall Kennedy and Trammell Crow Company have purchased an 8.2-acre land parcel in San Jose for $58.5 million. The land is located at 374-384 West Santa Clara St. The land sits adjacent to the Diridon Station master plan, which is zoned for two 10-story office buildings and a nine-story multifamily building. Diridon Station links Caltrain to San Francisco, the ACE train service to the Central Valley and the Amtrak Capital Corridor train to the north. It will also house the future extension of BART, and will serve as the first Northern California stop for the potential high-speed rail service that would connect Los Angeles to the Bay Area. Diridon Station’s master plan will eventually create a transit hub similar to San Francisco’s Transbay District, according to Bentall Kennedy. The new development may include up to 960,000 square feet of tech-oriented office space, more than 30,000 square feet of retail and 325 multifamily residential units.

October 2, 2015

Industrial Multifamily Office Retail Texas

Vitorino Group Launches in Dallas

by Haisten Willis October 1, 2015

DALLAS — After 12 years with Marcus & Millichap, a team of commercial real estate agents has started its own firm, the Vitorino Group. The team aims to build on its track record of retail investment sales throughout Texas and the Southwest, but will expand its business model to include all facets of a commercial real estate firm. Jason Vitorino leads the company, which opened Sept. 28. Vitorino Group also includes Jared Aubrey, Michael Austry, Adam Gottschalk, Anthony Pucciarello, Bryce Gissler and James Mangum. The Vitorino Group also employs a transaction coordinator, financial analyst, marketing coordinators and research analysts.

October 1, 2015

Georgia Office Southeast

FD Stonewater to Develop $101M FBI Facility in Atlanta

by John Nelson October 1, 2015

ATLANTA — The U.S. General Services Administration (GSA) has awarded a $101 million, 20-year lease contract to Arlington, Va.-based FD Stonewater to develop a build-to-suit facility in Atlanta for the Federal Bureau of Investigation (FBI). The FBI Atlanta Field Office will occupy the 151,066-square-foot project. FD Stonewater expects to break ground on the facility in early 2016 and deliver it in 2017. The building is the 14th build-to-suit lease project that FD Stonewater and its affiliates have developed on behalf of the GSA. Powers Brown Architecture is the lead designer for the project, and Harvey Cleary Builders is the general contractor.

October 1, 2015

Gulch Crossing 1033 Demonbreun Nashville

Office Southeast Tennessee

Colliers Arranges Office Lease at Gulch Crossing Building in Nashville

by John Nelson October 1, 2015

NASHVILLE, TENN. — Colliers International has arranged an 18,569-square-foot office lease at Gulch Crossing, an office building located at 1033 Demonbreun St. in Nashville. Vickie Saito of Colliers represented the tenant, Industrious NSH Gulch Crossing LLC, in the lease transaction. Industrious is a Chicago-based company that develops working environments with features such as glass-walled offices, coffee bars and relaxation rooms. Industrious has offices in several cities and at each location leases space as a locally established limited liability company. The company has previously developed office space for high-profile tenants such as Pinterest and Instacart. The company plans to be operational at Gulch Crossing by spring 2016.

October 1, 2015

Indiana Midwest Office

Cushman & Wakefield Arranges Sale of 113,545 SF Office Portfolio in Indianapolis

by Christina Cannon October 1, 2015

INDIANAPOLIS — Cushman & Wakefield / Summit Realty Group has arranged the sale of an 113,546-square-foot office portfolio located at 8935 – 9011 N. Meridian St. in Indianapolis. Keystone Realty Group sold Waterplace Park to Evergreen Investment Corp. Alex Cantu and Alison Melton of Cushman & Wakefield represented the seller. The property was developed in 1980 and is currently 69 percent leased. Tenants of Waterplace Park include Mid America Clinical Laboratories, Omnisource and GoldPoint Clinical Research.

October 1, 2015

Michigan Midwest Office

Lear Corp. Acquires 35,000 SF Office Building in Detroit

by Christina Cannon October 1, 2015

DETROIT — Lear Corp. has acquired a historic six-story, 35,000-square-foot building located at 119 State St. in Detroit from Bedrock Real Estate Services for an undisclosed price. Lear Corp. has plans to turn the building in Capitol Park into an innovation and design center described as a “think tank.” The building was constructed in 1887 and originally housed Brown Brothers Cigar Manufacturers. Construction will begin soon, and the project is slated for completion in 2016.

October 1, 2015

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