Office

CSG Partners Acquires Office/Flex Portfolio in Owings Mills for $13M

by John Nelson October 30, 2014

OWINGS MILLS, MD. — Baltimore-based CSG Partners LLC has purchased Owings Mills Business Center and Owings Mills Corporate Center, a four-building office/flex portfolio spanning 180,000 square feet in Owings Mills. CSG Partners purchased the single-story properties from First Potomac Realty Trust for $13 million. The buildings are 50 percent leased on average. Jonathan Carpenter, Nicole Keelty and Graham Savage of Cassidy Turley represented the seller. CSG Partners was self-represented in the transaction. CSG Partners will rebrand Owings Mills Business Center as Cronhill Corporate Centers I and II, and Owings Mills Corporate Center will become Cronridge Corporate Centers I and II. CSG Partners has selected Colliers International to market and lease Cronridge Business Center and Cronhill Corporate Center.

October 30, 2014

Midwest Office Ohio

M&M Arranges Sale of 11,750 SF Office Building in Columbus

by Danielle Everson October 29, 2014

COLUMBUS — Marcus & Millichap has arranged the $260,000 sale of an 11,750-square-foot office property in Columbus. The property is located at 5918 Sharon Woods Blvd. Justin Fenn and Dan Yozwiak of Marcus & Millichap’s Columbus office represented the seller, a partnership. The team also represented the buyer, a private investor who plans to convert the multi-tenant office building into a single-tenant church location.

October 29, 2014

Loans Massachusetts Northeast Office

NorthMarq Capital Arranges $2.5M Acquisition Loan for Office Building

by Amy Works October 29, 2014

HAVERHILL, MASS. — NorthMarq Capital’s Boston regional office has secured $2.5 million in acquisition financing for an office building in Haverhill. Located at 26 Parkridge Road, the property offers 42,000 square feet of office space. Ed Riekstins of NorthMarq Capital arranged financing, which has a 20-year term and a 25-year amortization schedule, through its correspondent relationship with a life insurance company.

October 29, 2014

Office Washington Western

NorthEdge Office Development in Seattle Receives $56.4M Construction Loan

by Nellie Day October 29, 2014

SEATTLE – NorthEdge, a 212,000-square-foot office property in the North Lake Union submarket of Seattle, has received $56.4 million in construction financing. The Class A development will be located on the southeast corner of North 34th Street and Woodlawn Avenue. NorthEdge will be situated in the Fremont neighborhood. Notable employers in this area include Google, Adobe and Tableau Software. The four-story office development will include 208,000 square feet of office space, 4,000 square feet of retail and a two-level, 314-space subterranean parking garage. In an effort to attract the burgeoning tech crowd of Seattle, the project will feature exposed concrete, open ceilings, and full-height glass windows overlooking Lake Union and the Downtown Seattle skyline. The project is being developed by Touchstone Corporation and AIG Global Investment Group. The three-year construction loan was arranged by HFF’s Bruce Ganong and Brandon Roth. It was provided by Bank of the Ozarks.

October 29, 2014

Michigan Midwest Office

Bernard Financial Arranges $25M CMBS Loan for One Woodward Building in Detroit

by Danielle Everson October 28, 2014

DETROIT — Bernard Financial Group has arranged a $25 million CMBS loan to refinace One Woodward, a 29-story office property in Detroit. The 358,888-square-foot, Yamasaki-designed building is located on Woodward Avenue and includes underground parking. Dennis Bernard and Kevin Kovachevich of Bernard Financial Group arranged the loan for the borrower, One Webward Avenue LLC.

October 28, 2014

Office Texas

Veriten Solutions Plans Relocation in Metro Dallas

by Haisten Willis October 28, 2014

ADDISON, TEXAS — Veriten Solutions LLC will relocate its headquarters by the end of 2014 to Marsh Business Park East in Addison. The company will move into a 12,237-square-foot property located at 3752 Arapaho Road, one of six buildings in the 179,739-square-foot business park. The park is 88 percent occupied. Veriten, a technology company focused on enterprise application design and development services, is currently headquartered at another location in Addison. Jason Miller and Susan Singer of Bradford Commercial Real Estate Services represented the landlord, P7/Sealy Marsh Arapaho Owner LP.

October 28, 2014

Office Southeast Tennessee

Brasfield & Gorrie Breaks Ground on $50M Office Tower in Nashville, Leases Space

by John Nelson October 28, 2014

NASHVILLE, TENN. — Brasfield & Gorrie has signed a lease to occupy office space at 1201 Demonbreun, a $50 million, 15-story office tower in Nashville’s Gulch neighborhood. Brasfield & Gorrie is the general contractor of the 680,000-square-foot project, which includes 305,000 square feet of office space and a 375,000-square-foot parking deck with 950 spaces. The project team includes developer Eakin Partners and architect Hastings Architecture Associates. Brasfield & Gorrie expects to deliver 1201 Demonbreun in late 2016 and move in to its office space in spring 2017. Other committed tenants include talent agency William Morris Endeavor, law firm Neal & Harwell and Sony Music Nashville.

October 28, 2014

Massachusetts Northeast Office

Brickman Associates Takes Blackstone Science Square in Cambridge

by Amy Works October 28, 2014

CAMBRIDGE, MASS. — JLL Capital Markets team has brokered the sale of Blackstone Science Square, a Class A office/lab building in Cambridge. Centremark Properties sold the four-story, 78,672-square-foot property to Brickman Associates for $31.5 million. Located at 237 Putnam Ave. and 19-23 Blackstone St., the property has undergone $8.1 million of capital improvements over the past five years. The improvements include significant infrastructure upgrades to accommodate life science lab tenants and new lobby and common area finishes. Additionally, there is a 94-space parking lot adjacent to the building. Current tenants include Good Start Genetics Inc., Ambri, Genewiz and Cireca Thernostics. Frank Petz and Jessica Hughes of JLL led the JLL Investments Sales team on the transaction.

October 28, 2014

Office Western

Snell & Wilmer Renews at Plaza Tower in Costa Mesa

by Nellie Day October 28, 2014

COSTA MESA, CALIF. – Snell & Wilmer law firm has renewed its lease for 53,000 square feet at Plaza Tower in Costa Mesa. The Class A property is located at 600 Anton Blvd. It sits adjacent to South Coast Plaza and the Segerstrom Center for the Arts. Snell & Wilmer was represented by CBRE’s Kevin Bender and Steve Bay. The landlord was represented by Rick Kaplan, Robert Lambert and Matt Moore of Cushman & Wakefield.

October 28, 2014

Arizona Office Western

Gateway Office Center in Phoenix Sells for $3M

by Nellie Day October 28, 2014

PHOENIX – Gateway Office Center, a 31,557-square-foot office complex in Phoenix, has sold to Garnett Capital Corporate for $3 million. The center is located at 4130 E. Van Buren Ave., within the Phoenix Gateway Center Office Park. It was built in 1987. The property is fully leased. The seller, Brentwood Gateway Center, was represented by Eric Wichterman, Mike Coover and Gordon Raguse of Cassidy Turley.

October 28, 2014

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