Office

Menlo Equities Buys Office Building in Lake Forest

by Nellie Day March 5, 2015

LAKE FOREST, CALIF. – An affiliate of Menlo Equities LLC has purchased a 76,841-square-foot office building in Lake Forest for an undisclosed sum. The building is located at 26250 Enterprise. It is situated near the 241 toll road and Interstate 5 via Bake Parkway.. The building is 87 percent occupied by four tenants, with a majority of the space occupied by Panasonic Avionics Corporation. The seller, Bixby Land Company, was represented by Jeffrey Cole, Jeffrey Chiate, David Dowd and Ed Hernandez of Cushman & Wakefield’s Irvine office.

March 5, 2015

Office Texas

Buchanan Street Partners Purchases Office Building in Texas

by Haisten Willis March 5, 2015

DALLAS — Buchanan Street Partners has acquired Granite Tower, a 10-story, 240,000-square-foot office building located at 4055 Valley View Lane in Dallas. Buchanan Street acquired the property on behalf of an unnamed pension plan from a partnership between CREA Investments and Macfarlan Capital Partners. Granite Tower is currently 97 percent leased. The firm acquired Granite Tower with five-year, fixed-rate financing provided by a Midwestern-based life insurance company through HFF, who acted as the mortgage broker in the transaction. Dallas-based DTZ will continue to manage and lease the property.

March 5, 2015

California Office Western

Brookwood Receives $90M Loan to Acquire Office Portfolio in San Diego

by Nellie Day March 4, 2015

SAN DIEGO — Brookwood Financial Partners has received an $89.9-million loan to acquire a 484,573-square-foot office portfolio in San Diego. The portfolio contains three properties in seven Class A and B buildings. The Newport National Portfolio includes Civic View Corporate Centre at 300 Rancheros Blvd. in San Marcos; Ventana Real at 2173, 2175 and 2177 Salk Ave. in Carlsbad; and The Campus at 5962, 5964 and 5966 La Place Court, also in Carlsbad. Acquisition financing was arranged by CBRE’s Charles Foschini, Christian Lee and Christopher Apone. Blackstone provided the two-year, interest-only loan.

March 4, 2015

Arizona Office Western

Velocis Partners Buys Camelback Square in Scottsdale for $42.3M

by Nellie Day March 4, 2015

SCOTTSDALE, ARIZ. — Velocis Partners has purchased Camelback Square, a 174,917-square-foot office building in Scottsdale, for $42.3 million. The center is located at 6991 East Camelback Road. The three-story office building was 92 percent occupied at the time of sale. Notable tenants at the building include ZocDoc, Regus, Ashton Woods, Echo Global Logistics, Digital Airstrike and Mastro’s City Hall Steakhouse. The property is situated near Scottsdale Fashion Square and the Scottsdale Waterfront. This is Velocis’ first Phoenix-based acquisition. Velocis also received an acquisition loan totaling $26.5 million. The loan was arranged by Bruce Francis, Dana Summers, Bob Ybarra and Shaun Moothart of CBRE’s Capital Markets’ Debt and Structured Finance team. It was provided by JP Morgan Chase. CBRE’s Barry Gabel, Chris Marchildon, Kevin Shannon, Ken White and Paul Jones represented Velocis and the seller, a joint venture between Lincoln Property Company and Oaktree Capital, in this transaction.

March 4, 2015

California Office Western

Occupational Therapy Training Program Renews at Harbor Gateway Garden Office Park

by Nellie Day March 3, 2015

TORRANCE, CALIF. – Occupational Therapy Training Program (OTTP) has signed a five-year lease renewal at Harbor Gateway Garden Office Park in Torrance. The 94,112-square-foot, nine-building office property is located at 19401 S. Vermont. The lease is valued at $1.5 million. The non-profit agency that offers comprehensive life skills training, work readiness training, job placement and support services is a division of Special Service for Groups. OTTP was represented by Chris Runyen of Charles Dunn Company. The landlord, Harbor Gateway, LLC, was represented by Dwight Everest of Sunny Hills–Palladium.

March 3, 2015

California Office Western

Meridian Property Company Purchases Medical Office Building in Berkeley

by Nellie Day March 3, 2015

BERKELEY, CALIF. – Meridian Property Company has acquired a 15,915-square-foot medical office building in Berkeley for an undisclosed sum. The building is located at 2920 Telegraph Ave. It was built in 1971 and was vacant at the time of sale. Meridian plans to invest $2.6 million into the building. The company also plans to reduce the building’s footprint to 12,900 square feet. It will use that space to create internal, secure parking behind the ground floor, which will meet the conditional use permit requirement and allow medical use at this location. The renovation is scheduled this fall. The seller was Gambro. Dave McCarty of Lee & Associates of Oakland serves as the building’s exclusive leasing agent.

March 3, 2015

Arizona Office Western

Saint Xavier University Opens Recruitment Center in Gilbert

by Nellie Day March 3, 2015

GILBERT, ARIZ. – Saint Xavier University opened a new recruiting center in Gilbert. The center is located at 119 North Gilbert Road. It will allow the university to attract future students to its new Gilbert campus, which will open this fall. The building is still under construction, though students have begun online classes through the new university outpost.

March 3, 2015

Illinois Midwest Office

Panasonic Signs 48,813 SF Lease at Continental Towers in Rolling Meadows, Ill.

by Danielle Everson March 3, 2015

ROLLING MEADOWS, ILL. — Panasonic Corp. of North America has signed a long-term lease for 48,813 square feet at Continental Towers in Rolling Meadows. The office, which moves from 5201 Tollview Road in Rolling Meadows, will serve as the consumer electronics company’s Midwest regional headquarters. It will take the entire 11th and 12th floors of Tower 3 when the lease begins in June 2015. Continental Towers is a 911,341-square-foot, three-tower office complex. Amenities include a 30,000-square-foot, full-service fitness center, a conference/training facility and a Foodbarz deli. The buildings is situated on a 34-acre corporate campus which is visible along I-90. Mitch Loveman and Kevin Duckler of Newmark Grubb Knight Frank represented Panasonic in the transaction. GlenStar Properties’ Dave Trumpy and Bill Debb represented ownership.

March 3, 2015

Office Texas

SmartVault Corp. Expands to 7,412 SF in Houston

by Haisten Willis March 3, 2015

HOUSTON — Boxer Property has arranged a lease for SmartVault Corp., a provider of software as a service online document storage and secure file sharing solutions. SmartVault will occupy 7,412 square feet of office space at 720 N. Post Oak Road in Houston. Ashley Myers negotiated the lease on behalf of Boxer Property. The six-floor office building is located north of Uptown Park shopping center and is near the Marque Center and Metro Busline. The building offers a common area conference room, on-site deli with free WiFi, a parking garage and 24-hour key card access.

March 3, 2015

New York Northeast Office

Savanna Sells 72,000 SF Manhattan Office Building to Real Estate Equities Corp.

by Amy Works March 3, 2015

NEW YORK CITY — Savanna has completed the disposition of 576 Fifth Avenue, a boutique office and retail building in Manhattan. Real Estate Equities Corp. acquired the 72,000-square-foot asset for an undisclosed price. Situated on the corner of Fifth Avenue and 47th Street, the property features a jewelry exchange on the ground floor and offices on the upper floors. Yoron Cohen, Richard Baxter, John Caplan, Scott Latham and Jason Gold of Jones Lang LaSallle represented Savanna in the transaction.

March 3, 2015

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