Office

Historic Cincinnati Building to Become Mixed-Use Development

by Danielle Everson November 6, 2014

CINCINNATI — Village Green has purchased 309 Vine St. in downtown Cincinnati and plans to redevelop the 300,000-square-foot building into a mixed-use property. The redeveloped building is set to open under a new name in 2016. Plans for the property include the addition of luxury apartments, penthouses, a market, restaurant and offices. The 1920s era, Beaux–Arts commercial building was originally an annex to the PNC Tower. In the 1800s it was the site of The Burnet Hotel, known for hosting President-elect Abraham Lincoln on his inaugural journey to Washington D.C.

November 6, 2014

Massachusetts Northeast Office

Faros Properties Acquires 20 Ashburton Place for $9.85M in Boston

by Amy Works November 6, 2014

BOSTON — Faros Properties has purchased 20 Ashburton Place, an eight-story office building in Boston’s Beacon Hill neighborhood, for $9.85 million. Built in 1968, the 48,580-square-foot building is occupied by Massachusetts Teachers Association, Beacon Hill Staffing Group and Beacon Hill Consulting Group. Frank Petz, Jessica Hughes and Robert Borden of JLL represented the seller in the transaction.

November 6, 2014

Office South Carolina Southeast

Accesso Partners Buys Class A Office Building in Remount Business Park

by John Nelson November 6, 2014

NORTH CHARLESTON, S.C. — Accesso Partners LLC has purchased Remount II, a Class A, 105,147-square-foot office building in North Charleston. The property is located at 1141 Remount Road in the Remount Business Park. The sales price was undisclosed. The 65-acre Remount Business Park was co-developed by Remount Venture, Venture One Real Estate Co. and Chicago-based Clayco Corp. Remount II was 92 percent leased at the time of sale to tenants such as SAIC International, Booz Allen Hamilton, CACI, Simplex Grinnell/TYCO and ManTech. HFF’s debt placement team led by senior managing director Susan Hill secured a senior loan through JP Morgan Securities Inc. Paul Gaines of Accesso Partners will take over as asset manager for Remount I and II, and Accesso Services will assume property management services. Glenn Goodwin and Bart Langlois of Landmark Enterprises in Mt. Pleasant, S.C. remain leasing brokers for Remount II.

November 6, 2014

Office Texas

CBRE Arranges $51M Bridge Loan for Office Properties in Metro Dallas

by Haisten Willis November 5, 2014

IRVING, TEXAS — CBRE Debt & Structured Finance has arranged a $51 million bridge loan on behalf of Brookwood Financial Partners for the acquisition of two office properties in Irving. The buildings are located at 125 E. John Carpenter Freeway and 5100 N. O’Connor Blvd. Blackstone of New York provided the interest-only, two-year bridge loan at a 73.5 percent loan-to-cost ratio. The two buildings span a total of 443,273 square feet and are located in Irving’s Las Colinas submarket. Charles Foschini, Christopher Apone and Christian Lee of the CBRE Capital Markets South Florida Institutional Properties team arranged the loan.

November 5, 2014

Office Texas

Q10 | Kinghorn, Driver, Hough & Co. Arrange $9.75M Loan for Office Building

by Haisten Willis November 5, 2014

HOUSTON — Q10 | Kinghorn, Driver, Hough & Co. has arranged a $9.75 million, 10-year, fixed-rate CMBS loan for the acquisition of an office building in the Westchase District of Houston. The two-story structure includes 95,000 square feet of space and is located on five acres.

November 5, 2014

Illinois Midwest Office

MB Real Estate Arranges 105,437 SF Office Lease in Rolling Meadows, Ill.

by Danielle Everson November 5, 2014

ROLLING MEADOWS, ILL. — MB Real Estate has arranged a 105,437-square-foot lease renewal for the headquarters of Komatsu America Corp. in Rolling Meadows. Komatsu America Corp. will occupy space located within Continental Tower I at 1701 Golf Road in the Northwest suburb of Chicago. The company is a U.S. subsidiary of Komatsu Ltd., a manufacturer and supplier of earth-moving equipment, consisting of construction, mining and compact construction equipment. The firm operates its U.S. headquarters from the Rolling Meadows location. The company maintains a world headquarters in Tokyo, as well as locations in more than 150 countries. Michael Hull of MB Real Estate represented Komatsu America Corp. in the lease renewal. Dave Trumpy of GlenStar Properties represented ownership.

November 5, 2014

Healthcare Illinois Midwest Office

The Missner Group Completes Renovation of Medical Office Building in Lincolnwood, Ill.

by Danielle Everson November 5, 2014

LINCOLNWOOD, ILL. — The Missner Group has renovated a 15,500-square-foot building into a new medical office for the Illinois Bone & Joint Institute (IBJI) in Lincolnwood. The property is located at 6540 N. Lincoln Ave. A former auto dealership, the new medical clinic features private offices, meeting and conference rooms, medical exam rooms, physical and occupational therapy facilities, X-ray suites and medical storage space. Debb Kosich LLC was the developer for the project. Glen Missner, Drue Stoehr, Uros Stojakovic and Len Corso led the construction team for The Missner Group. Stephen Rankin & Associates provided architectural services. IBJI specializes in the diagnosis, treatment and management of injuries and diseases of the musculoskeletal system. This was The Missner Group’s fourth project for IBJI. Additional projects were completed in Chicago, Des Plaines and Wilmette.

November 5, 2014

Loans New York Northeast Office Retail

Madison Realty Capital Provides $66M in Financing for Three Flushing Properties

by Amy Works November 5, 2014

NEW YORK CITY — Madison Realty Capital (MRC) has provided $66 million in financing for a 100,500-square-foot retail and office property, a 24,000-square-foot retail condominium and an 88-car parking garage in Flushing, Queens. The properties are located adjacent to one another at the corner of Main Street and Sanford Avenue, including the three-story office/retail building at 41-60 Main Street and commercial/parking property at 133-38 Sanford Avenue. The borrower plans to use the loan to recapitalize the properties from the special servicer who was managing the assets.

November 5, 2014

Colorado Office Western

Ivanhoé, Callahan Acquire Interest in Downtown Denver Portfolio

by Nellie Day November 5, 2014

DENVER – Ivanhoé Cambridge and Callahan Capital Properties have acquired a 40 percent interest in a Denver-based portfolio that includes the US Bank Tower, the Tabor Center and the adjacent Two Tabor development site. The interest was purchased from Canada Pension Plan Investment Board for more than $200 million. The 572,000-square-foot Tabor Center is located at 1200 17th Street. The property includes a 30-story trophy office tower and a 163,000-square-foot, mixed-use property with retail and health club amenities. The 520,000-square-foot US Bank Tower is located at 950 17th Street. The 26-story, Class A tower is just steps from Tabor Center. These acquisitions position Ivanhoé Cambridge as one of the main landlords in Denver’s commercial business district. The firm now has an ownership position that represents about 6 percent of Downtown Denver’s Class A office inventory. This is Ivanhoé’s sixth acquisition with Callahan, bringing the partners’ U.S. office platform investments to more than $2.4 billion. A Callahan affiliate continues to be an equity partner and asset manager for these properties.

November 5, 2014

Office Texas

M&M Arranges Sale of 50,050 SF Office Building in Fort Worth

by Haisten Willis November 4, 2014

FORT WORTH — Marcus & Millichap has arranged the sale of Marine Creek Business Park, a 50,050-square-foot office property located in Fort Worth. Ron Hebert of Marcus & Millichap’s Dallas office marketed the property on behalf of the seller, a limited liability company. Wayne Bares, also of the firm’s Dallas office, secured and represented the buyer, a limited liability company. The buyer aims to maximize value through lease up, increasing leases to current market rents and through improved management of expenses. Marine Business Park is located at 3501-3529 N. W. Loop 820 northeast of Azle Avenue. The building was built in 1982 and sits on 3.5 acres. The property was renovated in 2009 and was 95 percent occupied at the time of sale.

November 4, 2014

Newer Posts

Older Posts