Office

HFF Arranges Sale of Office Property in San Antonio

by Haisten Willis January 7, 2015

SAN ANTONIO — HFF has arranged the sale of Highpoint Towers, two 11-story office towers totaling 301,118 square feet adjacent to the South Texas Medical Center in San Antonio. HFF marketed the property on behalf of the seller, DNA Partners. Highpoint Towers is situated on a 13-acre site at 8401 and 8515 Datapoint Drive, which is accessible from I-10, Loop 410 and Loop 1604. The assets are located in the northwest office submarket and include views of the San Antonio skyline and hill country. The new ownership plans to make renovations to the project including upgrading the lobbies, adding exterior aesthetics, elevators and bathrooms. John Taylor, Kelsey Roop, Patrick McCord and Ryan McBride led the HFF sales team representing the seller.

January 7, 2015

Colliers, Wickfield Properties Arrange 134,927 SF Office Lease in Ann Arbor, Mich.

by Danielle Everson January 7, 2015

ANN ARBOR, MICH. — Colliers International Ann Arbor and Wickfield Properties have arranged the lease of 134,927 square feet of office space in Ann Arbor. Truven Health Analytics will occupy space in the Wickfield Center located at 100 Phoenix Drive. The company is relocating its North American headquarters in Ann Arbor to the center and will employ approximately 850 people at the campus. The property previously served as the former Borders Books corporate headquarters before Colliers International sold it to Ann Arbor-based Wickfield Properties in 2013. Jim Chaconas and Brendan Cavender of Colliers International Ann Arbor are directing leasing and marketing efforts for the Wickfield Center.

January 7, 2015

New York Northeast Office Retail

Savanna, Hornig Capital Partners Acquire Former Schlitz Brewery in Bushwick

by Amy Works January 7, 2015

NEW YORK CITY — New York City-based Savanna has partnered with Hornig Capital Partners and Chelsea Village Associates to acquire 95 Evergreen Ave. in the Bushwick neighborhood of Brooklyn for an undisclosed price. The five-story, 165,000-square-foot industrial building is located on the southeastern corner of Evergreen Avenue and George Street. Originally built as the Schlitz Brewery, the property features 15,500- to 36,600-square-foot floor plates, 15- to 30-foot ceiling heights and large windows with direct views of Manhattan and the surrounding boroughs. The joint venture plans to launch a $20 million building-wide capital improvement program in the first quarter of 2015 to convert the property into an office and retail location. Renovations include upgrading the property’s façade, windows, roof, generator, elevators, electric and plumbing systems, fire alarms, sprinklers and HVAC systems. The new space will cater to creative, media and technology tenants. Joe Berko and Lee Slipe of Berko & Associates represented the undisclosed seller in the transaction.

January 7, 2015

Florida Office Southeast

Crocker, Cornerstone Acquire Boca Center Mixed-Use Development in Boca Raton

by John Nelson January 7, 2015

BOCA RATON, FLA. — Crocker Partners and Cornerstone Real Estate Advisers LLC have teamed up to acquire Boca Center, a 476,000-square-foot mixed-use development in Boca Raton. The development features three Class A office buildings totaling 360,000 square feet and a high-end retail center totaling 116,000 square feet. The office component was 91 percent leased at the time of sale to tenants such as FINRA, UBS and Sun Capital. The retail component was 98 percent leased to tenants such as Rocco’s Tacos, Morton’s, Joseph’s Classic Market and Total Wine. Boca Center also features a 256-room Marriott hotel, which wasn’t part of the transaction. Crocker and Cornerstone purchased Boca Center from TIAA-CREF for an undisclosed price.

January 7, 2015

North Carolina Office Southeast

Inland Sells BB&T Headquarters Office Tower in Winston-Salem for $25M

by John Nelson January 7, 2015

WINSTON-SALEM, N.C. — Inland Private Capital Corp. has sold BB&T headquarters, a 240,000-square-foot, 20-story office tower located in Winston-Salem, for approximately $25 million. Inland facilitated the sale of the property on behalf of one of its 1031 investment programs through a subsidiary, which serves as Inland’s asset manager.

January 7, 2015

California Office Western

ARC Global Trust Buys Quest Diagnostics Building in LA for $96M

by Nellie Day January 7, 2015

LOS ANGELES — American Realty Capital Global Trust (ARC Global Trust) has purchased the 226,441-square-foot Quest Diagnostics building in the Los Angeles submarket of Santa Clarita for $96 million. The lab and office facility is located at 27027 Tourney Road. The property sits adjacent to Interstate 5, about 40 miles north of Los Angeles International Airport (LAX). Quest Diagnostics is the world’s leading provider of diagnostic testing and is one of the largest biomedical companies in the U.S. Quest occupies the entire building. The seller, Clarion Partners, was represented by HFF’s Ryan Gallagher, Mike McCann, Andrew Harper and Nick Foster.

January 7, 2015

Arizona Office Western

ARC Healthcare Buys Paradise Valley Medical Plaza in Phoenix for $28.3M

by Nellie Day January 7, 2015

PHOENIX — American Realty Capital Healthcare Trust (ARC Healthcare) has acquired Paradise Valley Medical Plaza, a 104,000-square-foot medical office building in Phoenix, for $28.3 million. The Class A building is located at 3805 East Bell Road, on the Abrazo Paradise Valley Hospital campus. Paradise Valley Medical Plaza was 90 percent occupied at the time of sale. The property was sold by RP Paradise Valley LLC, a joint venture between Plaza Companies and USAA Real Estate Company. Plaza will continue to provide leasing, construction services and property management for the building. The medical office building was sold to ARHC PVPHXAZ01 LLC, a subsidiary of ARC Healthcare. Plaza Companies and ARC Healthcare are also collaborating on Arrowhead Professional Center in Glendale, which is owned by ARC Healthcare and managed by Plaza.

January 7, 2015

Healthcare Illinois Midwest Office

HSA PrimeCare Completes Development of Silver Cross Business Center

by Danielle Everson January 6, 2015

CHICAGO — HSA PrimeCare has completed the development of a 30,000-square-foot business center at Silver Cross Hospital in New Lenox. The two-story administrative building is on the east side of campus located at 1900 Silver Cross Blvd. HSA Primecare has now developed three medical buildings on the Silver Cross campus totaling more than 100,000 square feet. Itasca, Ill.-based Premier Design + Build Group served as the general contractor for the project. Partners in Design Architects provided architectural design services.

January 6, 2015

Illinois Midwest Office

Bernard Financial Group Arranges $18.7M Loan for Office Building in Chicago

by Danielle Everson January 6, 2015

CHICAGO — Bernard Financial Group has arranged an $18.7 million CMBS loan to refinance a 23-story historic office building in Chicago’s Loop. The 198,698-square-foot property is located at 205 W. Randolph St. The sons of world-renowned architect Daniel H. Burnham designed the building. Dennis Bernard and Kevin Kovachevich of Bernard Financial Group originated the loan for the borrower, Randolph Acquisition LLC, through Deutsche Bank.

January 6, 2015

Office Texas

Hartman Energy Acquires Pair of Office Buildings in San Antonio

by Haisten Willis January 6, 2015

SAN ANTONIO — Hartman Energy LLC, an affiliate of Hartman Short Term Income Properties XX Inc., has acquired the Energy Plaza I and II office buildings in San Antonio. The properties total 180,119 square feet and were constructed in the early 1980s. They were renovated in 2013 with upgrades including granite and marble flooring, cherry wood veneer panels and recessed lighting. At the time of sale the buildings were 95 percent occupied and anchored by a long-term lease with the San Antonio Petroleum Club. Todd Mills and Carrie Caesar of CBRE represented the seller, BRI 1841 Energy Plaza LLC, a subsidiary of Accesso Partners LLC, in the transaction. Dave Wheeler, Julian Kwok and Russell Turman represented the buyer.

January 6, 2015

Newer Posts

Older Posts