Office

K2M Leesburg Virginia Trammell Crow Keane Enterprises

Trammell Crow, Keane Enterprises Break Ground on New HQ for K2M in Metro D.C.

by John Nelson January 28, 2015

LEESBURG, VA. — Trammell Crow Co. (TCC) and Keane Enterprises Inc. have broken ground on the new global headquarters for K2M Group Holdings Inc., an international medical device company that designs, develops and commercializes technologies and techniques related to the spine. The 146,000-square-foot build-to-suit project will be located in Keane’s Oaklawn master-planned community in Leesburg, a suburb of Washington, D.C. K2M’s new headquarters will be comprised of a 62,000-square foot, three-story office building and an 84,000-square-foot, one-story research and development building. The office building will house general administrative, executive and sales staff, and the research and development building will contain office, conferencing, research and assembly space. TCC and Keane expect to wrap up construction on the project and open for occupancy in early 2016.

January 28, 2015

Illinois Midwest Office Retail

JLL Income Property Trust Acquires Parking Garage in Chicago’s River North Area

by Danielle Everson January 26, 2015

CHICAGO — Jones Lang LaSalle Income Property Trust Inc. has acquired a six-story, 366-stall parking garage known as Ohio Ontario Self Park in Chicago for $16.9 million. The parking garage is a component of the mixed-use development located at 33 W. Ontario Street in Chicago’s River North area. The development includes a 59-story, 364-unit condominium tower with its own deeded parking and ground level retail. In conjunction with the acquisition, JLL Income Property Trust entered into a lease with a subsidiary of Imperial Parking, a firm founded in Vancouver in 1962.

January 26, 2015

Arizona Office Western

Phoenix Heart Buys Talavi Building in Mesa

by Nellie Day January 26, 2015

MESA, ARIZ. – Phoenix Heart, the valley’s leading cardiology group, has purchased the Talavi Building in Mesa for $6.2 million. The 35,904-square-foot building is located at 5859 W. Talavi Blvd., within the Talavi Business Park. Phoenix Heart currently occupies half of the building. The remaining space is fully occupied by tenants like Credit Union West, John C. Lincoln and Wallick & Volk. Phoenix Heart was represented by Marcus Muirhead of Colliers International. The seller, Credit Union West, was represented by JLL’s Brian Ackerman.

January 26, 2015

Industrial Office Texas

Ascension Properties Purchases Two Commercial Properties in Metro Dallas

by Haisten Willis January 23, 2015

FORT WORTH AND CARROLLTON, TEXAS — Ascension Properties LP has purchased two properties located in Fort Worth and Carrollton. The purchase is the result of a 1031 tax-deferred exchange from the sale of Ascension Point Condominiums in August 2014. The first property is an office building built in north Fort Worth in 2004. Ascend Alliance LP sold the 20,100-square-foot building. Marty Rader with DFW Realty Partners LLC represented the seller in the transaction. Steve Fithian with Sperry Van Ness/Visions Commercial represented Ascension in the transaction. The other property is an industrial building located at 2420 Tarpley Road in Carrollton. Beltwood I & II Ltd., and Belmeade Tarpley Ltd., were the sellers. The property spans 58,700 square feet and was built in 1983. David Cook with Sperry Van Ness/David Cook Co. represented the seller. Fithian represented Ascension in the sale.

January 23, 2015

Office Texas

Vista Investment Group Purchases Office Building in Austin

by Haisten Willis January 23, 2015

AUSTIN — An investment group formed by Vista Equities Group and Vista Private Equity Group has purchased Park Central, a three-story, 115,000-square-foot Class A office building. The building is located in north central Austin in close proximity to I-35 and Parmer Lane. The property was built in 2008 and was 83 percent leased at the time of the acquisition. Austin-based ECR will handle leasing responsibilities for Park Central. Vista Management Co. will provide property management services. GE Capital Corp. arranged financing, and Tyler Ford of HFF’s Houston office arranged the transaction.

January 23, 2015

New York Northeast Office

JV Breaks Ground for 55 Hudson Yards Office Tower

by Amy Works January 23, 2015

NEW YORK CITY — Mitsui Fudosan American Inc., Related Cos. and Oxford Properties Group have partnered for the full capitalization of 55 Hudson Yards. The joint venture has broken ground for construction of the office tower, which will be located at 33rd Street and 11th Avenue on Hudson Park and Boulevard. Situated within the 28-acre Hudson Yards development, the 51-story, 1.3 million-square-foot building is slated for tenant fit-out in 2017. Designed by A. Eugene Kohn and Kohn Pederson Fox Associates, the property is anticipated to achieve LEED Gold certification upon completion. Upon build out, Hudson Yards will include more than 17 million square feet of commercial and residential space, more than 100 shops and restaurants, approximately 5,000 residences, a cultural space, 14 acres of public open space, a 750-seat public school and a 175-room luxury hotel.

January 23, 2015

California Loans Office Western

Menlo Equities Secures $38.6M Loan on Palo Alto Office Building

by Nellie Day January 23, 2015

PALO ALTO, CALIF. — Menlo Equities has received a $38.6-million loan on a 45,319-square-foot Palo Alto office building. The building is located at 529 Bryant Street in the city’s downtown region. It had previously been converted into an internet exchange, or data center. The 10-year, non-recourse loan carries a fixed rate and a 30-year amortization schedule after a 5.5-year interest-only period. Financing was arranged by Eric Von Berg and Tom Dao of Newmark Realty Capital. It was sourced through Wells Fargo’s CMBS program. Newmark Realty Capital will serve as primary servicer on this loan, while Wells Fargo will act as the master servicer.

January 23, 2015

California Office Western

Mission Bay View Office Building Sells for $3M

by Nellie Day January 23, 2015

SAN DIEGO – An 11,390-square-foot-office building in the San Diego submarket of Mission Bay has sold to JWJ Properties One LLC for $3 million. The two-story building is located at 2437 Morena Blvd. It was recently renovated as creative office space. JWJ was represented by Craig Sanders of C. E. Sanders & Company. The seller, SDH Fund 1, LLC, dba SD Homes, was represented by Marc Posthumus of Colliers International.

January 23, 2015

California Office Western

San Diego Office Building Sells for $3.4M

by Nellie Day January 22, 2015

SAN DIEGO – A 27,648-square-foot office building in San Diego has sold to Activity MOB LLC for $3.4 million. The building is located at 8901 Activity Road. The facility underwent improvements about 20 years ago when it was occupied by Sharp Rees Stealy’s Urgent Care, in addition to other medical office users. The seller, GTF Properties, was represented by Brandon Keith of Voit Real Estate Services’ San Diego office. Activity MOB is affiliated with Oasis Medical Center, which is operated by Dr. James and David Chao.

January 22, 2015

Loans Multifamily Office Texas

BMC Capital Provides Loans Totaling $4.4M for Three Texas Properties

by Haisten Willis January 22, 2015

AUSTIN, HOUSTON AND COPPELL, TEXAS — BMC Capital has provided three loans totaling $4.4 million for a trio of Texas properties. The first is a $1.9 million refinancing loan for an apartment complex located in Austin. The 10-year, non-recourse loan features a fixed rate of 4.64 percent, a 75 percent loan-to-value ratio and a 30-year amortization schedule. The second loan is a $0.8 million refinancing loan for an apartment complex located in Houston. The five-year loan features a fixed rate of 4.38 percent, a 58 percent loan-to-value ratio and a 20-year amortization schedule. The third is a $1.7 million purchase loan for an office building located in the Dallas suburb of Coppell. The seven-year loan features a 4.46 percent fixed interest rate, a 65 percent loan-to-value ratio and a 25-year amortization schedule. Each loan was arranged through BMC Capital’s agency and correspondent banking relationships.

January 22, 2015

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