Office

Adler Kawa Buys 422,400 SF Business Park in Charlotte

by John Nelson April 20, 2015

CHARLOTTE, N.C. — Adler Kawa Real Estate Advisors (AKREA) has purchased Shopton Ridge Business Park, a 422,400-square-foot office and industrial park in southwest Charlotte. The park was 90.8 percent leased at the time of sale to tenants such as PinPoint, Scent Air, Cardinal Health, Linde Gas and Rent-A-Center, among others. AKREA purchased the property for an undisclosed price through the Adler Kawa Real Estate Fund II. AKREA has tapped Bill Wood of Trinity Partners to lease the asset. Patrick Gildea, Anne Johnson and Bryan Crutcher of CBRE represented the seller in the transaction. Charles Foschini and Christopher Apone of CBRE’s Miami office arranged acquisition financing on behalf of AKREA.

April 20, 2015

California Office Western

Lincoln Owner LLC Buys Silicon Beach Office Building

by Nellie Day April 20, 2015

SANTA MONICA, CALIF. – Lincoln Owner LLC has acquired a 23,557-square-foot office building in the Silicon Beach region of Santa Monica for $23.6 million. The building is located at 1315 Lincoln Blvd., just blocks from the Third Street Promenade and Santa Monica Place. The property was built in 2005. It was fully occupied at the time of sale. The seller, a partnership between Lincoln Property Company, Linwood Ventures and ASB Real Estate Investments, was represented by Bob Safai, Matt Case and Brad Schlaak of Madison Partners.

April 20, 2015

Office Texas

New Office Building to be Built in Dallas’ Uptown Financial District

by Haisten Willis April 17, 2015

DALLAS — A new, 14-story office building is planned for Uptown Dallas’ financial district. The all-glass, 125,000-square-foot building will be adjacent to Crescent at Maple Avenue and Mahon on a one-acre site that includes the Old Warsaw restaurant. Investors Mike Terry and Holt Lunsford plan to break ground on the project during the first quarter of 2016. The partners will move their companies, M. Terry Enterprises and Holt Lunsford Holdings, into the building upon completion. Gensler designed the building. Lunsford and Terry purchased the property from former owner Al Heidari. The three-building site includes two vacant buildings and the Old Warsaw restaurant, which will continue operating for the duration of its current lease through 2015. Holt Lunsford Commercial will handle the development, leasing and on-site property management. Newt Walker served as the broker for the land transaction. When completed, 2620 Maple Ave. will offer access to retailers and restaurants, the McKinney Avenue Trolley line and Dallas’ Katy Trail.

April 17, 2015

Illinois Midwest Office

Podolsky|Circle CORFAC International Arranges Lease for Law Firm in Oak Brook, Ill.

by Danielle Everson April 17, 2015

OAK BROOK, ILL. — Podolsky|Circle CORFAC International has arranged the lease of a 3,191-square-foot office within The Drake Oak Brook Office Plaza in Oak Brook. The law offices of Engler, Baasten & Sraga will occupy the space located at 2215 York Road. The office space will serve as the firm’s corporate headquarters. Built in 1981, The Drake Oak Brook Office Plaza is a 252,000-square-foot building situated on more than nine acres. The property includes a 388-space parking garage. Corey Chase and Kyle McKechnie of Podolsky|Circle CORFAC International represented the tenant. Steve Flashbart of Jones Lang LaSalle represented building ownership, OB I LLC, in the transaction.

April 17, 2015

Midwest Minnesota Office

Ecolab to Acquire Travelers North Tower in St. Paul, Minn.

by Danielle Everson April 17, 2015

ST. PAUL, MINN. — Ecolab Inc., a provider of water, hygiene and energy technologies and services, has signed a purchase agreement to acquire the 17-story North Tower from Travelers in downtown St. Paul. The transaction is expected to close in the third quarter. By the end of 2018, Ecolab will relocate its associates from the three buildings that comprise its world headquarters in downtown St. Paul to the North Tower. Ecolab will begin the process of relocating associates to the North Tower in the latter part of this year. Built in 1999, the North Tower includes 882,000 square feet of space, of which 484,500 square feet comprises office space, a data center and building common areas.

April 17, 2015

New York Northeast Office

Marcus & Millichap Brokers $14.8M Sale of Vacant Office Building in Queens

by Amy Works April 17, 2015

NEW YORK CITY — Marcus & Millichap has brokered the sale of an office building located at 90-75 Sutphin Blvd. in the Jamaica neighborhood of Queens. Arbern Sutphin Properties Corp. sold the 80,400-square-foot six-story property for $14.8 million, or $185 per square foot, to Flushing, N.Y.-based Ampiera Group. The property features three elevators, a 13,000-square-foot basement and a 70-car, 10,000-square-foot underground parking garage. Scott Plasky of Marcus & Millichap negotiated the transaction.

April 17, 2015

Office Texas

Lincoln Harris CSG Brokers Sale of Medical Office Portfolio in Dallas

by Haisten Willis April 16, 2015

DALLAS — Lincoln Harris CSG has brokered the sale of a portfolio of medical office buildings in Dallas-Fort Worth. Webber Beall, Brian Bacharach and Rhodes Baker of Lincoln Harris CSG represented the buyer, Health Care REIT, in the purchase of five on-campus medical office buildings, surgery centers and the sale-leaseback of additional on-campus development sites in the DFW Metroplex. The seller was Rainier Medical Investments, a healthcare and hospitality developer focused on physician co-invested real estate with healthcare systems. The stabilized Class A portfolio contained approximately 196,000 square feet and approximately seven acres of land that was leased back by Rainier for future on-campus medical and hospitality developments.

April 16, 2015

District of Columbia Loans Office Southeast

HFF Arranges $14.5M Acquisition Loan for D.C. Office Building

by John Nelson April 16, 2015

WASHINGTON, D.C. — HFF has arranged a $14.5 million acquisition loan for a 32,000-square-foot office building located at 1509 16th St. N.W. in Washington, D.C.’s Dupont Circle neighborhood. Dan McIntyre of HFF arranged the 10-year, fixed-rate loan through First National Bank on behalf of the borrowers, MidAtlantic Realty Partners LLC and UberOffices. In addition to the acquisition, the borrowers will use the loan proceeds to fund renovation/lease up costs. Originally built in 1909, the building will be fully renovated by early 2016 for UberOffices, which will occupy the entire office building.

April 16, 2015

Office Texas

Rosemont Realty Signs Two New Tenants at Office Building in Dallas

by Haisten Willis April 15, 2015

DALLAS — Rosemont Realty LLC, a commercial real estate investment company, has signed two local tenants to leases at 9400 NCX for a combined 11,621 square feet. Camden Homes and Insurance Designers of Dallas each have committed to new leases for their respective headquarters at the 9400 NCX building, located at 9400 N. Central Expressway in Dallas. Camden Homes has consolidated three locations into the new 8,065-square-foot office space. Insurance Designers of Dallas has secured 3,556 square feet. Camden Homes is a private homebuilder in the Dallas-Fort Worth area. Insurance Designers of Dallas is part of an independent marketing organization. Stephen Holley with Jones Lang LaSalle represented the tenant in the transaction. The 16-story, 387,160-square-foot 9400 NCX building is currently undergoing a lobby and conference center renovation, to be completed this summer.

April 15, 2015

Midwest Office Ohio

Shopoff Realty Investments Acquires Apple Valley Office Center Near Dayton, Ohio

by Danielle Everson April 15, 2015

BEAVERCREEK, OHIO — Shopoff Realty Investments has acquired Apple Valley Office Center, a three-building, 130,440-square-foot office campus in the Dayton suburb of Beavercreek. The acquisition was partially capitalized by Shopoff Strategic Income Fund, which closed to new investors on Dec. 31, 2014. Apple Valley Office Center includes a three-story, 55,024-square-foot building, a two-story, 29,916-square-foot building and a single-story, 45,500-square-foot building. The campus was built in 1985 on approximately six acres. Shopoff Realty Investments plans to make overall improvements to the property, including transforming vacant office suites into move-in ready speculative space for future tenants. Apple Valley Office Center’s anchor tenants include Northrop Grumman Systems Corp., a global defense and technology company, and MacAulay-Brown, a company that provides advanced engineering services and product solutions. The campus, which includes more than 500 parking spaces, is accessible via I-675, I-75 and I-70, as well as State Route 35.

April 15, 2015

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