Office

Columbia Property Trust Buys 274,218 SF Boston Office Building for $152M

by Amy Works January 19, 2015

BOSTON — Columbia Property Trust has purchased an office building located at 116 Huntington Ave. in Boston’s Back Bay submarket. Broadway Partners, advised by Soundport Capital LLC, sold the 274,218-square-foot property for $152 million. Constructed in 1991, the 15-story building offers views of the Back Bay, Seaport and South End submarkets, as well as the Charles River. Coleman Benedict, Ben Sayles and Patrick McAneny of HFF marketed the property for the seller and procured the buyer in the transaction.

January 19, 2015

Industrial New Jersey Northeast Office

Sitex Group Acquires New Jersey Sharp Plaza for $40M

by Amy Works January 19, 2015

MAHWAH, N.J. — Sitex Group has acquired Sharp Plaza, a mixed-use campus located in Mahwah, for $40 million. Situated on the New York state border at the intersection of Routes 17 and 287, the campus includes a three-story, 147,000-square-foot Class A office building, a 350,000-square-foot warehouse building and 23 acres of undeveloped land. The office building is currently leased to Sharp as its North American headquarters on a long-term basis. The warehouse, which is expandable by 200,000 square feet, currently has an 80,000-square-foot vacancy. The remainder of the warehouse is long-term leased to Sharp and Amazing Savings. Sitex Group plans to reposition the warehouse vacancy and market the vacant land for office or warehouse build-to-suit opportunities. McBride Real Estate represented Sitex Group in the acquisition.

January 19, 2015

California Office Western

Buchanan Street Buys Cornerstone Heights Corporate Center in San Diego

by Nellie Day January 16, 2015

SAN DIEGO — Buchanan Street Partners has acquired Cornerstone Heights Corporate Center, a 97,945-square-foot office property in the San Diego submarket of Sorrento Mesa, for $23.1 million. The two-building center is located at 5959 & 6059 Cornerstone West. The center is 91 percent leased to three tenants, including Konica Minolta, Verimatrix and Tillster. It was developed in 1987. Both buildings recently underwent significant renovations. The seller, a partnership between Lincoln Property Company and Artemis Real Estate Partners, was represented by DTZ’s Rick Reeder and Brad Tecca. The firm’s Brett Ward will lead the center’s leasing efforts.

January 16, 2015

Massachusetts Northeast Office

The Davis Companies Sells Six-Story Office Building in Boston’s Seaport District

by Amy Works January 16, 2015

BOSTON — The Davis Companies has completed the disposition of an office building located at 24 Farnsworth St. in Boston’s Seaport District. Unitarian Universalist Association (UUA), the lead tenant, acquired the property through a previously negotiated lease-to-purchase agreement for an undisclosed price. UUA will relocate its headquarters from Boston’s Beacon Hill neighborhood to the six-story, 74,554-square-foot property. The building offers open floor plans and abundant natural lighting. An investment fund of The Davis Companies originally purchased the mortgage note on the property in May 2012, when the building was only 14.5 percent leased. Within 10 months of the mortgage note acquisition, The Davis Companies brought the property to full occupancy when UUA agreed to move its headquarters to the building. UUA is now exercising its option to purchase, which was part of its new 10-year lease for the remainder of the building.

January 16, 2015

Loans Northeast Office Pennsylvania

Integra Real Estate Capital Arranges $1.83M Loan for Office Property in Philly

by Amy Works January 16, 2015

PHILADELPHIA — Integra Real Estate Capital has arranged a $1.83 million bridge loan for the acquisition of an office building located on Sandmeyer Lane in Philadelphia. The newly constructed property offers 48,750 square feet of flex office space. Integra was able to close the loan within 16 days to meet the constraint of the buyer’s 1031 exchange deadline. The non-recourse loan features a competitive interest rate and a flexible repayment structure. Igor Goldenberg of Integra negotiated the transaction on behalf of the New York-based ownership group.

January 16, 2015

Office Texas

Q10 KDH Secures $20M Loan for Sam Houston Business Park in Houston

by Haisten Willis January 16, 2015

HOUSTON — Q10 Kinghorn, Driver, Hough & Co.’s Houston office has secured a $20 million, 15-year term loan for Sam Houston Business Park in Houston. The property is located at 8844-8850 N. Sam Houston Pkwy. Larry Peters of Q10 KDH arranged the transaction on behalf of the borrower, Levey Group. Levey Group is a family-owned industrial real estate development company specializing in offering office-warehouse facilities for sale or lease. Q10 KDH is a Texas-based commercial mortgage banking company that arranges financing for developers and owners of commercial real estate.

January 16, 2015

Office Texas

Henry S. Miller Arranges Two Office Leases in Metro Dallas

by Haisten Willis January 16, 2015

DALLAS — Henry S. Miller Brokerage represented Ann Anderson and Stephen Leitzke of Farmers Insurance in the lease of two office locations in Frisco and north Dallas. Jim Breitenfeld of Henry S. Miller’s Dallas/Fort Worth office arranged the transactions. Ann Anderson leased a 150-square-foot office suite at 6500 Preston Road in the 6500 Business Center in Frisco. Stephen Leitzke leased a 1,319-square-foot office space at 17000 Preston Road, Building 3, Suite 330 in the East Preston Trails Office Park in Dallas. Mark Macy of MacyNewman Commercial Real Estate represented the landlord, Preston-Town Trails LP, in the 17000 Preston Road, Dallas transaction.

January 16, 2015

Lincoln Center Planet Home Lending Tampa

Florida Office Southeast

Planet Home Lending Leases Third Floor of Lincoln Center in Tampa

by John Nelson January 16, 2015

TAMPA, FLA. — Planet Home Lending has leased the entire third floor of Lincoln Center, an office building in Tampa’s Westshore district. The company is relocating its branch location from Clearwater with the 22,450-square-foot space. Pat Marzulli of Colliers International’s Tampa Bay office represented Planet Home Lending in the lease transaction. Pat McGuire and Katy Alderman of Redstone Asset Management Services LLC represented the landlord, St. Paul Fire and Marine Insurance Co. Planet Home Lending is currently overseeing improvements to the space in Lincoln Tower. The organization is expected to complete renovations and move into the office space during the first quarter of 2015.

January 16, 2015

Michigan Midwest Office

Friedman Brokers Sale of 24,112 SF Office Building in Lathrup Village, Mich.

by Danielle Everson January 15, 2015

LATHRUP VILLAGE, MICH. — Friedman Integrated Real Estate Solutions has brokered the sale of Southfield 12 Plaza, a 24,112-square-foot office building in Lathrup Village, a suburb of Southfield. The property is located at 28600 – 28690 Southfield Road. Lathrup Properties Inc. sold the building. David Cohen of Friedman represented the undisclosed buyer in the transaction.

January 15, 2015

California Office Western

Tech Start-Up Wish Leases Office Space in San Francisco

by Nellie Day January 15, 2015

SAN FRANCISCO – A locally based tech start-up company called Wish has leased 54,501 square feet of office space in San Francisco. The Class A space is located at 1 Sansome Street. The mobile commerce platform is doing business as ContextLogic. The landlord is Prudential Real Estate Investors. Wish was represented by DTZ’s Jason Burch, Jim Chesler and Charlie Moore.

January 15, 2015

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