Office

Cousins Properties Sells Office Tower in Fort Worth

by Haisten Willis January 5, 2015

FORT WORTH, TEXAS — Cousins Properties Inc. has sold 777 Main, a 980,000-square-foot, Class A office tower in downtown Fort Worth, for $167 million. Cousins purchased 777 Main for $160 million in September of 2013 as part of its Crescent Texas acquisition, which included the 4.3 million-square-foot Greenway Plaza office complex in Houston. Cousins is a fully integrated, self-managed real estate investment trust. The Atlanta-based company primarily invests in Class A office assets located in Georgia, Texas and North Carolina.

January 5, 2015

Colliers International Ann Arbor Arranges Sale of 8,662 SF Office Building

by Danielle Everson January 5, 2015

ANN ARBOR, MICH. — Colliers International Ann Arbor has arranged the sale of an 8,662-square-foot office building in Ann Arbor. Sleeping Bear Press purchased the property, located at 2395 S. Huron Parkway, for an undisclosed sales price. The children’s book publisher is relocating its Ann Arbor offices to this location. Jim Chaconas and Brendan Cavender of Colliers International Ann Arbor represented both the undisclosed seller and the buyer in the transaction.

January 5, 2015

Michigan Midwest Office

Dental Practice Buys Freestanding Office Building in Southfield, Mich.

by Danielle Everson January 5, 2015

SOUTHFIELD, MICH. — Gerdom Realty & Investment has arranged the sale of a 3,400-square-foot, two-story office building in Southfield. A dental practice in the area purchased the freestanding office asset located at W. 10 Mile Road for an undisclosed sales price. Tjader Gerdom of Gerdom Realty & Investment represented the seller, a private owner, and procured the buyer.

January 5, 2015

Florida Office Southeast

Fairlead Commercial Acquires Class A Office Building in Tampa

by John Nelson January 5, 2015

TAMPA, FLA. — Fairlead Commercial Real Estate has purchased Westshore 500, a Class A, 129,728-square-foot office building in Tampa. The asset is located at 500 N. Westshore Blvd. in Tampa’s Westshore submarket. Fairlead Commercial acquired the asset along with equity partner Bridge Investment Group Partners, managers of the ROC Funds, for an undisclosed price. Christian Lee, Dale Peterson, Charles Foschini and Marcos Minaya of CBRE’s capital markets group represented the seller in the transaction. Fairlead has selected Claire Calzon and Joanne LeBlanc of Colliers International to lease Westshore 500.

January 5, 2015

Midwest Missouri Office

Lee & Associates Brokers $2.7M Sale of 18,500 SF Office Building

by Danielle Everson December 29, 2014

LEE’S SUMMIT, MO. — Lee & Associates has brokered the $2.7 million sale of an 18,500-square-foot office building in Lee’s Summit. The property is located at 3350 Ralph Powell Road. Jon England and Nathan Anderson of Lee & Associates’ Kansas City office represented the seller, MJB of Missouri LLC. Valley Oaks Investments LLC, a private investment company, purchased the multi-tenant property.

December 29, 2014

California Office Western

Gaw Capital Partners Buys Yeon Building in Portland

by Nellie Day December 24, 2014

PORTLAND, ORE. – Gaw Capital Partners has acquired the Yeon Building, a 126,885-square-foot creative office building in Portland, for an undisclosed sum. The historic building is located at 522 SW Fifth Ave. It was originally built in 1911 and renovated in 2011. The Yeon Building contains 114,113 square feet of office, 11,332 square feet of retail space and 1,440 square feet of amenity space. It is 85.6 percent leased to tenants in the technology, entertainment/gaming, legal, nonprofit, engineering, counseling, music, financial and real estate industries. The seller, an affiliate of Jonathan Rose Companies, was represented by HFF’s Nick Kucha and Michael Leggett.

December 24, 2014

California Office Western

The Commons Office, Retail Complex in Pasadena Changes Hands

by Nellie Day December 24, 2014

PASADENA, CALIF. – The Commons, an 85,743-square-foot office and retail complex in Pasadena, has sold to a global investment management firm for an undisclosed sum. The complex is located at 140-146 South Lake Ave. It is occupied by tenants like Drybar, Soul Cycle, Lemonade, Green Street Café, The Counter, 18/8 and Seco New American. The buyer plans to further enhance value and hold the property long term. Bob Safai, Matt Case and Brad Schlaak of Madison Partners represented the seller, a joint venture between Arenda Capital Management and Arenda Capital Management, in this transaction.

December 24, 2014

Office Texas

NAI Houston Brokers Sale of Two Office Properties in Houston

by Haisten Willis December 23, 2014

HOUSTON — NAI Houston represented American Spectrum in the sale of two office properties located at 800 and 888 W. Sam Houston Pkwy. Both buildings are two-story, multi-tenant properties totaling 88,292 square feet. The assets are located in Houston’s Westchase District near the intersection of Beltway 8 and Briar Forest. Doug Pack of NAI Houston represented the seller, American Spectrum. Logan Brown of Logan Brown Investments represented the buyer.

December 23, 2014

New York Northeast Office

MMCC Closes $29.6M Acquisition Loan for International Corporate Center in New York

by Amy Works December 23, 2014

RYE, N.Y. — Marcus & Millichap Capital Corp. (MMCC) has arranged a $29.6 million acquisition loan for International Corporate Center in Rye. Located at 555 Theodore Fremd Ave., the 168,499-square-foot office building was built in 1990. The 10-year, fixed-rate CMBS loan features five years of interest-only, a 30-year amortization schedule, a 4.32 percent rate and a 75% loan-to-value rate. Christopher Marks of MMCC arranged the financing for the undisclosed borrower.

December 23, 2014

Colorado Office Western

Molson Coors Leases Space in Denver

by Nellie Day December 23, 2014

DENVER – Molson Coors Brewing Co. has leased 53,872 square feet in Denver. The 1.3-million-square-foot building is located at 1801 California Street in the city’s Central Business District. Molson Coors was represented by Ted Harris and Travis Young of Cassidy Turley. The landlord, Brookfield Office Properties, was represented by Nicholas Pavlakovich and David Sternberg of Cushman & Wakefield.

December 23, 2014

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