ST. PAUL, MINN. — Ecolab Inc., a provider of water, hygiene and energy technologies and services, has signed a purchase agreement to acquire the 17-story North Tower from Travelers in downtown St. Paul. The transaction is expected to close in the third quarter. By the end of 2018, Ecolab will relocate its associates from the three buildings that comprise its world headquarters in downtown St. Paul to the North Tower. Ecolab will begin the process of relocating associates to the North Tower in the latter part of this year. Built in 1999, the North Tower includes 882,000 square feet of space, of which 484,500 square feet comprises office space, a data center and building common areas.
NEW YORK CITY — Marcus & Millichap has brokered the sale of an office building located at 90-75 Sutphin Blvd. in the Jamaica neighborhood of Queens. Arbern Sutphin Properties Corp. sold the 80,400-square-foot six-story property for $14.8 million, or $185 per square foot, to Flushing, N.Y.-based Ampiera Group. The property features three elevators, a 13,000-square-foot basement and a 70-car, 10,000-square-foot underground parking garage. Scott Plasky of Marcus & Millichap negotiated the transaction.
DALLAS — Lincoln Harris CSG has brokered the sale of a portfolio of medical office buildings in Dallas-Fort Worth. Webber Beall, Brian Bacharach and Rhodes Baker of Lincoln Harris CSG represented the buyer, Health Care REIT, in the purchase of five on-campus medical office buildings, surgery centers and the sale-leaseback of additional on-campus development sites in the DFW Metroplex. The seller was Rainier Medical Investments, a healthcare and hospitality developer focused on physician co-invested real estate with healthcare systems. The stabilized Class A portfolio contained approximately 196,000 square feet and approximately seven acres of land that was leased back by Rainier for future on-campus medical and hospitality developments.
WASHINGTON, D.C. — HFF has arranged a $14.5 million acquisition loan for a 32,000-square-foot office building located at 1509 16th St. N.W. in Washington, D.C.’s Dupont Circle neighborhood. Dan McIntyre of HFF arranged the 10-year, fixed-rate loan through First National Bank on behalf of the borrowers, MidAtlantic Realty Partners LLC and UberOffices. In addition to the acquisition, the borrowers will use the loan proceeds to fund renovation/lease up costs. Originally built in 1909, the building will be fully renovated by early 2016 for UberOffices, which will occupy the entire office building.
DALLAS — Rosemont Realty LLC, a commercial real estate investment company, has signed two local tenants to leases at 9400 NCX for a combined 11,621 square feet. Camden Homes and Insurance Designers of Dallas each have committed to new leases for their respective headquarters at the 9400 NCX building, located at 9400 N. Central Expressway in Dallas. Camden Homes has consolidated three locations into the new 8,065-square-foot office space. Insurance Designers of Dallas has secured 3,556 square feet. Camden Homes is a private homebuilder in the Dallas-Fort Worth area. Insurance Designers of Dallas is part of an independent marketing organization. Stephen Holley with Jones Lang LaSalle represented the tenant in the transaction. The 16-story, 387,160-square-foot 9400 NCX building is currently undergoing a lobby and conference center renovation, to be completed this summer.
BEAVERCREEK, OHIO — Shopoff Realty Investments has acquired Apple Valley Office Center, a three-building, 130,440-square-foot office campus in the Dayton suburb of Beavercreek. The acquisition was partially capitalized by Shopoff Strategic Income Fund, which closed to new investors on Dec. 31, 2014. Apple Valley Office Center includes a three-story, 55,024-square-foot building, a two-story, 29,916-square-foot building and a single-story, 45,500-square-foot building. The campus was built in 1985 on approximately six acres. Shopoff Realty Investments plans to make overall improvements to the property, including transforming vacant office suites into move-in ready speculative space for future tenants. Apple Valley Office Center’s anchor tenants include Northrop Grumman Systems Corp., a global defense and technology company, and MacAulay-Brown, a company that provides advanced engineering services and product solutions. The campus, which includes more than 500 parking spaces, is accessible via I-675, I-75 and I-70, as well as State Route 35.
ROSEVILLE, CALIF. – PCCP LLC has acquired Stoneview Plaza, a 108,354-square-foot office building in Roseville, for an undisclosed sum. The building is located at 3001 Lava Ridge Court. It is currently 72.5 percent occupied. The property will be managed by Basin Street Properties, while leasing efforts will be handled by Newmark Cornish and Carey.
WASHINGTON, D.C. — Brookfield Property Partners LP has signed law firm Bracewell & Giuliani LLP to a 50,000-square-foot lease at 2001 M St. N.W., an office building currently under construction in Washington, D.C. The trophy office asset is slated to be delivered in spring 2016 and will feature a two-story lobby, rooftop terrace and a fitness center. The law firm is 2001 M. St.’s first major tenant, according to Brookfield. Tim Relyea, Malcolm Marshall and Sherry Cushman of Cushman & Wakefield represented the law firm in the lease transaction. David Bevirt, Cy Kouhestani and Melanie Stehmer-Townsend were Brookfield’s internal representatives in the lease deal.
HOUSTON — HFF has secured refinancing for One City Centre, a 608,660-square-foot office tower in downtown Houston. The Class A, 32-story property includes two parking garages. HFF worked on behalf of the borrower, Accesso Partners, to secure the 10-year, fixed-rate loan through J.P Morgan Chase Bank. Loan proceeds were used to retire existing debt that was used to purchase the property in 2012. One City Centre is located at 1021 Main St. The property has direct access to the Metro Light Rail line and tunnel system in downtown Houston. Originally built in 1961, the property was most recently renovated in 2010 and is LEED EB Gold certified. Tenants at the tower, which is 86 percent leased, include Waste Management and Energy XXI. One City Centre also includes the 758-space One City Centre Garage and the 611-space Fannin Garage. Susan Hill and Michael Johnson led the HFF debt placement team representing the borrower. Accesso Partners is a commercial real estate investment manager, owner and operator.
SAN ANTONIO — San Antonio Commercial Advisors (SACA), a member of the Cushman & Wakefield Alliance, has arranged three new tenant leases at Quarry Village II, a 40,000-square-foot office and retail building located at 250 East Basse Road. Paul Fagan of SACA represented Quarry Village II in each transaction. The leases were arranged for: Northeast OB/GYN Associates, which will occupy 4,500 square feet; Central Texas Pain Center, which will occupy 3,500 square feet; and Eating Recovery Center, which will occupy 9,700 square feet.