Office

Vonage Renews 350,000 SF Office Lease in New Jersey

by Amy Works February 24, 2016

HOLMDEL, N.J. — Vonage, a provider of cloud communications services, has renewed its lease through 2023 for 23 Main St. in Holmdel. The 350,000-square-foot building has been the company’s corporate headquarters and home to more than 700 Vonage employees since 2005. Owned by Mack-Cali Realty Corp., the property offers abundant parking, direct access to Route 34 and convenience to the Garden State Parkway. Christopher DeLorenzo of Mack-Cali handled the renewal for the owner, while Vonage was represented by Cushman & Wakefield.

February 24, 2016

Office Washington Western

Qumulo Expands to 75,000 SF at Century Square in Seattle

by Nellie Day February 24, 2016

SEATTLE — Data storage systems provider Qumulo has expanded to 75,000 square feet of space at Century Square in downtown Seattle. The space is located at 1501 4th Ave., between the South Lake Union and the financial district. Laura Ford and David Abbott of Colliers International represented the landlord.

February 24, 2016

Midwest Office Wisconsin

Siegel-Gallagher Negotiates Lease of 3,770 SF of Office Space in Delafield, Wisconsin

by Christina Cannon February 24, 2016

DELAFIELD, WIS. — Siegel-Gallagher has negotiated a 3,770-square-foot office lease in Delafield, approximately 30 miles west of Milwaukee. Gunpowder Inc. will occupy space at Delafield Properties IV, a building located at 440 Wells St. Ace Delafield Properties LLC is the landlord. Devin Tessmer of Siegel-Gallagher brokered the transaction.

February 24, 2016

Loans Massachusetts Northeast Office

NorthMarq Capital Arranges $4.5M Acquisition Financing for Boston Office Property

by Amy Works February 23, 2016

BOSTON — NorthMarq Capital has arranged $4.5 million in acquisition financing for an office property located at 44-46 Plympton St. in Boston’s South End. The transaction was structured with a 10-year term and a 30-year amortization schedule. The property features 28,600 square feet of office space. Ed Riskstins of NorthMarq Capital’s Boston regional office secured the financing for the undisclosed borrower through NorthMarq’s relationship with a national bank.

February 23, 2016

Office Texas

Quadrant Investment Properties Purchases Saint Paul Place in Dallas

by Haisten Willis February 23, 2016

DALLAS — Quadrant Investment Properties (QIP) has acquired Saint Paul Place, a 22-story, 273,217-square-foot office building located on the corner of Ross Avenue and Saint Paul Street in the Dallas Arts District. The building is 78 percent leased to tenants including D-Magazine, Crowe Horwath and Sendero Business Systems. QIP plans to implement several improvements to the office tower including lobby amenity upgrades and a new tenant conference center and lounge that features a balcony overlooking the Dallas Museum of Arts sculpture garden. The new ownership will also upgrade corridors and implement a building-wide spec suite program. Headquartered in Dallas, QIP is a commercial real estate investment company targeting value-add office and industrial opportunities in Texas and the southwest United States. Celeste Fowden, Seth Thatcher and Ben Davis of CBRE will lease the project. HFF represented the seller in the transaction, and JLL procured financing for the asset.

February 23, 2016

Office Texas

KBS Signs 39,334 SF Lease at Parkwood Place in Plano

by Haisten Willis February 23, 2016

PLANO, TEXAS — KBS Realty Advisors has signed a 39,334-square-foot lease with Highland Homes at Parkwood Place, a Class A, LEED-certified office property in Plano. The company renewed its 34,266-square-foot lease and expanded to an additional 5,068 square feet. Built in 2006, Parkwood Place is located in Plano’s Legacy submarket. The property spans 98,750 square feet and includes a tenant lounge and conference facility. Blake Shipley and Jeff Eckert of JLL represented KBS Realty Advisors in the transaction, while Scott Hobbs of CBRE represented Highland Homes.

February 23, 2016

Loans Office Washington Western

Columbia Pacific Advisors Provides $50M Acquisition Loan for Weyerhaeuser Campus in Seattle

by Nellie Day February 23, 2016

SEATTLE — Columbia Pacific Advisors has provided $50 million in first-mortgage financing for the 425-acre Weyerhaeuser corporate campus in the Seattle submarket of Federal Way. The campus is located at 33663 Weyerhaeuser Way S. The loan will allow the borrower, Industrial Realty Group (IRG), to purchase the campus. IRG plans to redevelop and lease or sell parts of the high-profile property to industrial and office users. Columbia Pacific Advisors manages more than $1.1 billion across a variety of alternative investment strategies, including real estate lending, private real estate equity, growth capital, private equity and distressed debt.

February 23, 2016

Florida Office Southeast

Akerman LLP Moves Into 110,508 SF Office in Three Brickell City Centre in Miami

by John Nelson February 23, 2016

MIAMI — Akerman LLP, a prominent law firm, has moved into its 110,508-square-foot office space at Three Brickell City Centre in Miami. Akerman’s office space features a conference center that can accommodate up to 300 people, a café, common areas, war rooms and coffee bars. Three Brickell City Centre is the only office building in the Brickell area with a Metromover attached to its structure (Eighth Street Station), and Akerman will be the only law firm in the area with a Metromover station. Three Brickell City Centre is also pre-certified LEED Gold. With more than 600 lawyers and government affairs professionals and a network of 20 offices, Akerman is a transactions and trial law firm with a specialty in middle market M&A within the financial services and real estate industries, as well as a Latin American practice. Located at 98 S.E. 7th St. in Miami’s Brickell financial district, Three Brickell City Centre is part of Swire Properties’ $1.05 billion Brickell City Centre mixed-use development.

February 23, 2016

California Office Western

Macland Investments Purchases Office Building in Los Angeles for $4.7M

by Nellie Day February 22, 2016

LOS ANGELES — Macland Investments has acquired a 10,300-square-foot office building in the Warner Center/Woodland Hills submarket of Los Angeles for $4.7 million. The building is located at 5947-5951 Variel Ave. The gas station operator will use the space for administrative offices. The seller, a private investor, acquired the property in 2012 as a two-tenant property. It renovated the space for single-tenant use with high-end, modern finishes. Scott Romick of Lee & Associates-LA North/Ventura represented the seller.

February 22, 2016

Loans Massachusetts Mixed-Use Northeast Office Retail

Mesa West Capital Funds $40.8M Loan to Reposition Office Campus Near Boston

by Amy Works February 22, 2016

MAYNARD, MASS. — Mesa West Capital has provided Artemis Saracen Investments, a joint venture between Saracen Properties and Artemis Real Estate Partners, with $40.8 million in first mortgage financing to reposition a 1 million-square-foot office campus in Maynard. Loan proceeds will be used to implement an extensive capital improvement and leasing plan that will reposition the property to appeal to a wide variety of users. Formerly known as Clock Tower Place, the newly rebranded Mill & Main is a mixed-use development located 25 miles west of Boston. Planned improvements to the property include updated building systems, pedestrian plazas, a waterfront boardwalk, fitness facilities, boutique retail and gallery venues. Situated on 50 acres, the property includes 12 vintage brick-and-beam-style buildings overlooking a 14-acre mill pond. Constructed in 1847, the site originally served as a woolen mill until 1950 when it was converted to an office park. The property is currently 37 percent leased, including a recently signed lease with Stratus Technologies for 102,000 square feet, which is slated to open this spring. Jay Marshall of HFF arranged the financing.

February 22, 2016

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