Office

Kendra Scott Design Relocates Headquarters to Mixed-Use Development in Austin

by Haisten Willis January 30, 2015

AUSTIN, TEXAS — Kendra Scott Design (KSD) is consolidating its corporate headquarters and moving to a new home at Lamar Central, a Class-A, mixed-use development located at 38th Street and Lamar Boulevard in Austin. Highland Resources, the project’s developer, has signed the jeweler to a 10-year lease. KSD will lease Lamar Central’s entire fourth floor, spanning 43,500 square feet, for its headquarters, and an additional 1,500 square feet on the ground floor to open a flagship Austin retail location. The company plans to relocate to its new home by the end of the year. Cushman & Wakefield/Oxford Commercial, on behalf of Highland Resources and JLL, represented KSD in the transaction. CBRE and JLL negotiated the retail lease. Lamar Central is a four-story, 165,000-square-foot mixed-use development featuring more than 132,000 square feet of office space with an additional 33,000 square feet of retail and restaurant space. Construction is slated for completion in the third quarter of 2015. On-site amenities include floor-to-ceiling windows, garage parking with a direct connection into each tenant floor, a landscaped courtyard with patios for outdoor dining, car-charging stations, bike storage, showers and changing rooms.

January 30, 2015

TerraCRG Arranges $7.5M Sale of Brooklyn Commercial Property

by Amy Works January 30, 2015

NEW YORK CITY — TerraCRG has arranged the sale of a commercial property located at 340 Wythe Ave. in the Williamsburg neighborhood of Brooklyn. The 8,633-square-foot property sold for $7.5 million. The property site is zoned M3-1, which allows for approximately 17,266 gross buildable square feet of commercial development, including office or retail space. Ofer Cohen, Melissa Warren, Peter Matheos, Dan Marks and Michael Hernandez of TerraCRG represented the seller in the deal.

January 30, 2015

New York Northeast Office

Media General Leases Entire 62nd Floor of Empire State Building

by Amy Works January 30, 2015

NEW YORK CITY — Richmond, Va.-based Media General Inc. has leased the entire 62nd floor of the Empire State Building in New York City. The company plans utilize the 26,782-square-foot space to centralize its six digital media companies and national sales headquarters into one location. Fred Posniak provided in-house representation for the landlord, Empire State Realty Trust, along with William Cohen, Jonathan Tootell and Shanae Ursini of Newmark Grubb Knight Frank. James Gross and Peter Gross of Douglas Elliman Commercial represented Media General in the deal.

January 30, 2015

Arizona Office Western

Washington Business Park in Phoenix Sells for $11.1M

by Nellie Day January 29, 2015

PHOENIX – Washington Business Park, a 139,196-square-foot business park in Phoenix, has sold to CAM-10 LLC for $11.1 million. The four-building park is located at 5324-5330 E. Washington Street. It was built in 1985. Washington Business Park is currently 72 percent leased. Tenants include Walgreens Drug Co., Arizona Department of Revenue and Quality Care Network, Inc. CAM-10 is an affiliate of Covington Asset Managemen LLC. The seller, BREOF AIP Phoenix, was represented by CBRE’s Barry Gabel and Chris Marchildon.

January 29, 2015

California Office Western

Medical Realty Group Buys Medical Office Building in San Diego for $2.5M

by Nellie Day January 29, 2015

SAN DIEGO – Medical Realty Group has acquired an 8,500-square-foot medical office building in the San Diego submarket of El Centro for $2.5 million. The building is located at 1410 South La Brucherie Road. It is fully occupied by Vantage Oncology Treatment Centers. The property also underwent a recent renovation and expansion. The seller, the Scott Family Trust, was represented by Paul Lafrenz of Colliers International.

January 29, 2015

Arizona Office Western

Soilworks Leases Office Space in Scottsdale

by Nellie Day January 29, 2015

SCOTTSDALE, ARIZ. – Soilworks has signed a lease for Class A office space in Scottsdale. The dust control and soil stabilization provider plans to relocate its new world headquarters inside the space. The office will be located at 7580 N. Dobson Road. It is situated just east of the Loop 101 freeway, within Riverwalk Arizona. Soilworks was represented by JLL’s John Pierson and Trevor Pratt. The landlord, the Alter Group, was represented in-house by Justin Miller.

January 29, 2015

Office Utah Western

Hales Engineering Buys Office Building in Lehi

by Nellie Day January 29, 2015

LEHI, UTAH – Hales Engineering has purchased 5,400 square feet of office space in Lehi for an undisclosed sum. The space is located at 1220 North 500 West. The new location will be used for the civil engineering company’s headquarters and main offices. Preston Davis and Kevin Ford of Newmark Grubb ACRES represented both the buyer and seller, Wells Fargo Bank, in this transaction.

January 29, 2015

Office Texas

Hillwood Secures Lease For New Office Space in Fort Worth

by Haisten Willis January 29, 2015

FORT WORTH, TEXAS — Hillwood Properties has secured a new lease from Title Source, an independent provider of title insurance, property valuations and settlement services in the nation. The company is the first tenant at the new Hillwood Commons I office complex at Alliance Town Center, and will lease more than 10,000 square feet at the facility. The property is located on the north side of Heritage Trace Parkway.

January 29, 2015

Industrial Massachusetts Northeast Office

IPG Photonics Acquires Three Buildings for $32.4M Total in Marlborough

by Amy Works January 29, 2015

MARLBOROUGH, MASS. — IPG Photonics has acquired three buildings, totaling 269,000 square feet, in Marlborough. The total purchase price for the properties was $32.4 million. The acquisitions include 156,630 square feet at 377 Simarano Dr. for $25.6 million and a two-building campus located at 257 and 259 Cedar Hill St. for $6.8 million. IPG immediately occupied 12,000 square feet at 377 Simarano Dr. and plans to expand into the balance of the property as space becomes available. IPG is retrofitting the facility at 257 and 259 Cedar Hill St. and plans to move into the property in the second quarter of 2015. IPG Photonics currently occupies approximately 500,000 square feet in nearby Oxford, Mass., and needs additional space to expand its operations. David Stubblebine and James Stubblebine of The Subblebine Company/CORFAC International represented IPG in the transaction.

January 29, 2015

Loans New York Northeast Office

Meridian Capital Group Arranges $22.5M in Acquisition Financing for Brooklyn Office Condo

by Amy Works January 29, 2015

NEW YORK CITY — Meridian Capital Group has negotiated a $22.5 million loan for the acquisition of an office condominium in Brooklyn. The three-year, interest-only loan, which was provided by a regional balance sheet lender, features a floating rate and two one-year extension options. The loan is for the acquisition of the top four floor, totaling 76,500 square feet, of Montague Pavilion Condominium. Built in 1960, the 14-story office building is located at 195 Montague St. in Brooklyn. Tal Bar-Or of Meridian’s New York City headquarters brokered the acquisition loan on behalf of the sponsor.

January 29, 2015

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