GLENDALE, ARIZ. – Dunbar Real Estate Investment Management has purchased Arrowhead Business Center, a 43,915-square-foot office campus in Glendale, for $7 million. The three-building campus is located at 7025, 7055 and 7075 West Bell Road. It was 88.9 percent occupied at closing. Dunbar purchased the asset through its investment advisor AEGON USA Realty Advisors LLC. The seller, Warranty of America, was represented by DTZ’s Bob Buckley, Tracy Cartledge, Steve Lindley and Ben Geelan.
IRVINE, CALIF. – LoanDepot has doubled the size of its largest online direct-lending production center in Orange County. The consumer lender increased its space from 131,267 square feet to 238,732 square feet. It now maintains a total of 885,162 square feet of office space nationwide. The company has direct-lending production centers in Plano, Texas, Brentwood, Tenn., and Scottsdale, Ariz. The company also plans to hire an additional 1,000 employees.
LOS ANGELES – Kinetic Content has leased 57,000 square feet of creative office space in Los Angeles. The television production company leased 37,000 square feet at 11755 Wilshire Blvd. It will be expanding at this property. The second new lease includes 20,000 square feet just down the street at 12100 Wilshire Blvd. Kinetic Content was represented by Jacob Bobek and Jeff Vertun of Avison Young. CBRE represented the landlord, CalSTRS, in the first lease transaction. The second landlord, Hines, represented itself.
ATLANTA — Atlanta Property Group (APG), an Atlanta-based real estate investment firm, has closed on its acquisition of Securities Centre, a two-building, 531,000-square-foot office campus in Atlanta’s Buckhead submarket. The campus is located at 3490 and 3500 Piedmont Road near the intersection of Piedmont and Lenox roads. APG purchased the office complex from LNR Partners, which had foreclosed on the property in November 2011. APG has purchased 10 office properties spanning 3 million square feet in the metro Atlanta area since mid-2010. APG will lease and manage Securities Centre, with plans to complete a multi-million dollar renovation to the property during its first year of ownership. JLL represented LNR Partners in the transaction.
BOSTON — CBRE/New England has arranged the sale of 186 Lincoln Street, an office building located in Boston’s South Station micro market. Morris & Morse Co. sold the property to New York-based Brickman Real Estate for $20.6 million. At the time of sale, the 68,526-square-foot property was 70 percent occupied by a variety of tenants, including Roche Diagnostics, Full Contact and Greystone Solutions. Chris Angelone, John Meador, Bruce Lusa and Jessica Dowd of CBRE/NE represented the seller in the transaction. Carlos Febres-Mazzei, Kyle Juszczyszyn, Alex Bradley and Taylor Shepard of CBRE/NE’s Debt & Structured Finance team secured acquisition financing for the buyer.
SAN ANTONIO — Bryan Leonard of NorthMarq Capital’s San Antonio office has secured the $16.4 million refinance of The Terrace at Concord Park, a 161,563-square-foot office property located at 607 and 777 E. Sonterra Blvd. in San Antonio. The transaction was structured with a 10-year term and 25-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with Nationwide Insurance. The property’s tenant roster includes State Farm, Wells Fargo, Schlumberger and Ryland Homes.
HOUSTON — NAI Partners represented Heritage Texas Properties LP in the lease renewal of 20,272 square feet of office space located at the 1177 West Loop South building in Houston. Dan Boyles Jr. and Liz Westscott-Brown of NAI Partners represented Heritage Texas Properties during the lease negotiations. Michael Sieger and Wade Bowlin of RMRG | RM Realty Group represented the landlord, Spire Realty Group.
CLEARWATER, FLA. — Delray Beach, Fla.-based Atlantic Commercial Group Inc. has brokered the $14.2 million sale of Bayview Pavilion, a 94,144-square-foot, three-story office building in Clearwater. The Class A office building is located on Lightwave Drive immediately west of the St. Pete-Clearwater International Airport. YMP Real Estate Management purchased the property from an undisclosed seller. Cliff Weisner of Atlantic Commercial Group brokered the transaction.
ATLANTA — Franklin Street Real Estate Services has brokered the $4.7 million sale of the vacant 13-story Forty One Marietta office building in downtown Atlanta. The property offers a repositioning opportunity within walking distance to Georgia State University, the Atlanta Streetcar and the Five Points MARTA station. 41 Marietta Investments LLC purchased the property from a private owner for a little over $36 per square foot. Jake Reid and Ricky Jones of Franklin Street’s Atlanta office represented the seller in the transaction.
OAK BROOK AND OAKBROOK TERRACE, ILL. — Chicago-based Bradford Allen Realty Services has been hired as the exclusive leasing agent for two additional office properties in suburban Chicago. The firm was selected by the ownership to lease the 55,729-square-foot office building at 800 Enterprise Drive in Oak Brook and the 56,414-square-foot Oakbrook Terrace Atrium located at 17W220 22nd St. in Oakbrook Terrace. The Oak Brook property features suites ranging from 1,494 square feet to 5,753 square feet and Oakbrook Terrace Atrium offers suites ranging from 1,398 square feet to 10,829 square feet. Ryan Moen of Bradford Allen will handle leasing efforts for both properties.
