FORT WORTH, TEXAS — Commercial brokers Steve Fithian and James Blake have merged their Fort Worth Sperry Van Ness offices together into Sperry Van Ness / Trinity Advisors. The merger brings together Fithian’s Sperry Van Ness / Visions Commercial office and Blake’s Sperry Van Ness / Summit Commercial office. The newly merged office, located at 5601 Bridge St., Ste. 504 in Fort Worth, provides commercial real estate brokerage, leasing, consulting and property management on all commercial property types. Fithian has more than 25 years of commercial real estate experience. His specialty primarily has been in multifamily, but has lately also focused on retail and office properties. Fithian also organizes, manages and acts as the general partner in real estate syndications. Blake has more than 30 years of commercial real estate experience. His primary focus is retail and industrial income-producing properties. He also specializes in single-tenant net lease retail and is working to put together a single-tenant net lease team at Sperry Van Ness / Trinity Advisors to represent clients in the purchase and sale of these properties. The company has a total of six advisors and eight employees.
MERRIMACK, N.H. — NAI Norwood Group has arranged the acquisition of an office building located at 237 Daniel Webster Highway in Merrimack. Shellback Harbor LLC purchased the property from C&I Investment Associates for $3.5 million. Situated on 9.5 acres, the 68,870-square-foot property was formerly home to Fairpoint Communications. Shellback Harbor, dba BES&T Global Commissioning, will use the property as its world headquarters. Aron Brown of NAI Norwood Group represented the buyer, while Norton Asset Management represented the seller in the transaction.
NEW HAVEN, CONN. — O,R&L Commercial LLC has negotiated the sale of an office building and adjacent parking lot, located at 189-191, 201 Orange St. and 115 Court St. in New Haven. The investment properties sold for $2.6 million. Frank Hird of O,R&L Commercial represented the seller, O’Keefe Associates, Manhattan Associates and Euclid/O’Connor Associates, while Charlotte Goldblatt of Goldblatt Associates represented the buyer, Bulkhead Investments LLC.
KNOXVILLE, TENN. — Southeastern Development Associates has signed Regal Entertainment Group to a lease that relocates its world corporate headquarters to downtown Knoxville. The company is the world’s largest theater chain with nearly 7,500 screens. Regal will occupy a nine-story, 178,000-square-foot office building located on the Tennessee River in Southeastern Development’s One Riverwalk mixed-use development. Upon completion, One Riverwalk will feature 300 luxury apartment communities, student housing, office space, a hotel, retail shopping, restaurants, a riverwalk esplanade, parks and an entertainment plaza. Regal is expected to bring approximately 400 employees with the relocation. Southeastern Development Associates, formerly known as Blanchard & Calhoun Commercial, partnered with Tennessee Governor Bill Haslam, the city of Knoxville, Knoxville Mayor Tim Burchett and the Tennessee Valley Authority. Tommy Saul, Rhodes Seeger and Chris Senn represented Southeastern Development Associates internally in the transaction.
SAN DIEGO — HFF has arranged a $96.4 million loan for Genesis at Campus Point, a vacant, four-building office complex in the UTC submarket of San Diego, which will fund the complex’s conversion into a biotech space. The 311,022-square-foot campus is located at 4224, 4242 and 4244 Campus Point Court and 10210 Campus Point Drive. The space is situated near the convergence of interstates 5 and 805 inside a life science cluster. Other notable tenants in the area include the University of California San Diego, Scripps medical campus, Illumina, Eli Lilly and Celgene. The buildings will feature multiple conference rooms, an on-site café with indoor and outdoor seating, a full-service fitness center, large balconies and a combination of covered and surface parking. HFF’s Tim Wright, Todd Sugimoto and Zack Holderman arranged the financing on behalf of the borrower, a partnership between Phase 3 Real Estate Partners and its institutional partner. The 36-month, floating-rate loan was placed with TPG Real Estate Finance Trust. Proceeds will be used to recapitalize the mid-year acquisition and fund the immediate repositioning costs of the asset.
HOUSTON — HFF has arranged the sale of BBVA Compass Plaza, a Class A office building totaling 326,200 square feet in Houston. BBVA Compass Plaza is the first office building to be delivered to the Galleria area in nearly three decades. HFF marketed the asset on behalf of the seller, a joint venture partnership between Stream Realty Partners, TRC Capital Partners (formerly The Redstone Cos.) and an institutional client of L&B Realty Advisors. Masaveu Post Oak Houston Delaware LLC purchased BBVA Compass Plaza for an undisclosed amount. Completed in 2013, BBVA Compass Plaza is a LEED Gold-certified, 22-story building that is 83 percent leased. BBVA Compass Bank occupies 58 percent of the net rentable area, and the remaining tenants are a mix of national and international firms. The recently completed property features a 1,144-space parking garage, a full retail bank branch, fitness center and two restaurants: Caracol and Oka Sushi. BBVA Compass Plaza is situated in Houston’s Galleria submarket with access to Loop 610, I-10, Highway 59 and Westpark Tollway. Scott Galloway, Dan Miller, Matt Kafka, Colby Mueck and Trent Agnew led the HFF investment sales team.
DALLAS — Paradigm Tax Group has relocated its headquarters to Dallas and added a new CEO. Paradigm provides property tax consulting services for commercial property owners and has more than 30 regional offices across the U.S. Paradigm will retain its presence in its former headquarters in the Phoenix area. Steve Stubitz will remain chairman of the company but step down from his interim CEO role to welcome Mark Wanic as CEO. Stubitz held the position following the retirement of Paradigm’s prior CEO Bob Dunlap. Wanic comes to Paradigm after holding a variety of executive positions at Cushman & Wakefield. Wanic is the latest addition to a new management team, which includes new CFO Francoise Mattice, who joined Paradigm in March. Paradigm helps clients identify potential tax-saving opportunities.
PLANO, TEXAS — Boxer Property has concluded long-term lease negotiations on a 17,000-square-foot lease with GuideIT, a Perot company. GuideIT has been a tenant of Boxer in the Plano Tower building since early 2013. Plano Tower is located at 101 E. Park Blvd. and is owned and managed by Boxer Property. Mark Dowdle, of Boxer Property’s Dallas office, negotiated the agreement on behalf of Boxer, and Louis Pascuzzi of Jackson Cooksey represented GuideIT. Plano Tower includes 13 stories with a total of 225,445 square feet of office space for rent. The Class A building features a mirrored glass exterior, surface and covered parking, an upgraded lobby, granite floors, elevator service, on-site banking services and drop boxes.
BRYN MAWR, PA. — Duke Realty plans to develop a 100,300-square-foot medical office building (MOB) for Main Line Health at its Bryn Mawr Hospital campus. Located at 130 Bryn Mawr Ave. in Bryn Mawr, the four-story building is estimated to cost $35 million. The property will house a 24,000-square-foot ambulatory surgery center, 13,000 square feet of primary care services and 10,000 square feet of auxiliary space to meet Main Line’s future needs. Development will begin in February 2016, and completion is slated for February 2017. The building will be owned by Duke Realty Bryn Mawr Development LLC. The Philadelphia office of Francis Cauffman is serving as architect and Health Sciences Construction Group is serving as general contractor for the project.
HOUSTON — Bracewell & Giuliani LLP has signed a 189,061-square-foot, long-term lease renewal at Pennzoil Place, located at 711 Louisiana St. in Houston. David Lee, Doug Little and Ben Quinton of Transwestern’s Houston headquarters negotiated the deal on behalf of the building owner, Metropolis Investment Holdings Inc. Bracewell & Giuliani is an international law firm with 450 lawyers in Texas, New York, Washington, D.C., Connecticut, Seattle, Dubai and London, serving Fortune 500 companies, major financial institutions, leading private investment funds, governmental entities and individuals concentrated in the energy, technology and financial services sectors worldwide. Tim Relyea and Brooke Wommack of Cushman & Wakefield represented the tenant.