Office

CBRE Brokers $10.2M Sale of Office Tower in West Palm Beach

by John Nelson October 7, 2015

WEST PALM BEACH, FLA. — CBRE has brokered the $10.2 million sale of Horizons Office Building, an eight-story, 64,247-square-foot asset located at 1401 Forum Way in West Palm Beach. AW Horizons LLC purchased the office building and an attached parking garage from Pebb Forum LLC. Scott O’Donnell, Dominic Montazemi, Miguel Alcivar, Greg Miller and Anthony Librizzi of CBRE represented the seller in the transaction. Additionally, Jason Hochman of CBRE arranged an $8 million, 10-year acquisition loan through an unnamed CMBS lender on behalf of the buyer.

October 7, 2015

California Office Western

Creative Office Campus in Costa Mesa Sells for $48M

by Nellie Day October 7, 2015

COSTA MESA, CALIF. — Steelwave & Goldman Sachs has purchased a 180,000-square-foot office campus in Costa Mesa for $48 million. The property is located at 3333 South Susan St. The seller, Emulex Corp., occupies the largest of the three buildings. The remaining two vacant buildings contain a total of 84,000 square feet that will be repositioned as creative office space. The site features 14.2 acres with 3.2 acres that can be used for future development. CBRE’s Paul Jones, Kevin Shannon, Gary Stache, Anthony Delorenzo and Blake Bokosky represented Emulex in the deal.

October 7, 2015

3801 Hollywood Blvd. Hollywood Bank of America

Florida Office Southeast

Aztec Group Arranges $6.6M Sale, $3.9M Loan for Office Building in South Florida

by John Nelson October 7, 2015

HOLLYWOOD, FLA. — Aztec Group Inc. has arranged the $6.6 million sale of a three-story, 20,000-square-foot office building located at 3801 Hollywood Blvd. in Hollywood, a city in South Florida’s Broward County. Bank of America anchors the multi-tenant property. Howard Taft and Charles Penan of Aztec Group brokered the sale and arranged a five-year, $3.9 million acquisition loan through City National Bank on behalf of the buyer, an affiliate of New York-based RAF Ridge. The loan features a fixed 4.25 percent interest rate and a 25-year amortization schedule.

October 7, 2015

Office Utah Western

DataMaster Buys Fairfield Crossing Building in Utah

by Nellie Day October 7, 2015

LAYTON, UTAH — DataMaster has acquired Fairfield Crossing Building, a 16,000-square-foot office building in Layton, for an undisclosed sum. The space was formerly a retail asset, but the real estate appraisal software company will house its sales and tech services at the property. It is situated just north of Salt Lake City. Chris Falk of Newmark Grubb ACRES represented DataMaster. Adam Hawkes of Mountain West Retail and Investment represented the undisclosed seller.

October 7, 2015

Healthcare Office Texas

M&M Arranges Sale of 10,453 SF Net Leased Property in Fort Worth

by Haisten Willis October 6, 2015

FORT WORTH, TEXAS — Marcus & Millichap has arranged the sale of Complete Emergency Care, a 10,453-square-foot net-leased medical property located in Fort Worth. Philip Levy and Chris Gainey of Marcus & Millichap’s Fort Worth office marketed the property on behalf of the seller, a private investor. Levy and Gainey also secured the buyer, a limited liability company. Complete Emergency Care is located at 6006 Camp Bowie Blvd. The triple-net lease has a corporate guarantee. Four years remain on the primary term with annual CPI adjustments, and the tenant has one, 10-year option for renewal. The building was constructed in 1990 and sits on 0.8 acres.

October 6, 2015

California Office Western

Molina Healthcare Leases Space at One World Trade Center in Long Beach

by Nellie Day October 6, 2015

LONG BEACH, CALIF. — Molina Healthcare has leased 73,486 square feet of office space at One World Trade Center in Downtown Long Beach. The facility will serve as an expansion for the company’s corporate headquarters, which is located across the street. Damion McKinney and Jamie Keller of McKinney Advisory Group represented Molina in the lease. JLL’s Steve Solomon, Jason Fine and Kristen Bowman, along with CBRE’s Dave Smith represented the landlords, Greenlaw Partners, Walton St. Capital and Stillwater Investment Group.

October 6, 2015

Connecticut Northeast Office

Trevor Davis Commercial Real Estate Arranges Four Leases at Middletown Business Park

by Amy Works October 6, 2015

MIDDLETOWN, CONN. — Trevor Davis Commercial Real Estate LLC has arranged four leases at Middletown Business Park in Middletown. New Tech Installation leased 3,171 square feet; the State of Connecticut Department of Administrative Services, Department of Rehabilitation Services inked a deal for 1,340 square feet; UBTS leased 583 square feet; and A&B Home Health Care will occupy 411 square feet. The landlord is BostonMiddletown LLC. Trevor Davis of Trevor Davis Commercial was the sole broker in the transactions. The 75,000-square-foot office and light industrial park is now 85 percent occupied.

October 6, 2015

Northeast Office Vermont

Nedde Real Estate Brokers 9,025 SF Office Lease in Vermont

by Amy Works October 6, 2015

WILLISTON, VT. — Nedde Real Estate has brokered an office lease in the Hillside East subdivision of Williston. Cognizant Technology Solutions has inked a deal to occupy 9,025 square feet of office space at the property. Grant Butterfield of Nedde Real Estate represented Cognizant in the transaction. Cognizant is an American multinational corporation that provides custom information technology, consulting and business process outsourcing services. Terms of the lease and the name of the landlord were not released.

October 6, 2015

Arizona Office Western

Manning & Kass, Ellrod, Ramirez, Trester LLP Relocates to Downtown Phoenix

by Nellie Day October 5, 2015

PHOENIX — Manning & Kass, Ellrod, Ramirez, Trester LLP has leased 16,360 square feet of office space at Security Title Plaza in downtown Phoenix. The space is located at 3636 North Central Ave. The company was previously headquartered in Scottsdale. Tiffany Winne and Luke Raimondo of Savills Studley represented the law firm. DTZ’s Mark Stratz and Scott Baumgarten represented the landlord, Reven Capital.

October 5, 2015

New York Northeast Office

SL Green Sells $115M Stake in NYC Office Asset

by Amy Works October 5, 2015

NEW YORK CITY — SL Green Realty Corp. has sold its interest in a commercial office condominium located at 315 W. 36th St. in New York City. Walter & Samuels Inc. acquired the 35.5 percent stake for a gross asset valuation of $115 million, or $779 per square foot. The 17-story property features 14 loft condominiums across the upper seven floors and 132,945 square feet of office space across the lower nine levels. Designed by George and Andrew Blum in 1925, the building is listed in the National Architectural Trust. SL Green acquired its interest in the property in late 2012 at a gross asset valuation of $45 million. Woody Heller of Savills Studley advised SL Green in the transaction.

October 5, 2015

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