SAN DIEGO – A 33,715-square-foot office and industrial building in San Diego has sold to Ingold Family Investments for $5 million. The building is located at 7740 Kenamar Court within the Centerpointe Court in the Miramar submarket. It is situated near Interstates 805 and 15. The space is fully leased to California Comfort Systems, USA, a mechanical and plumbing contractor. Ingold was represented by Lee & Associates. The seller, Providence II Centerpointe, was represented by Dan Vittone and Alan Pekarcik of Avison Young’s Irvine office.
TEMPE, ARIZ. – Regional Acceptance Corp. has leased 40,000 square feet of space at Papago Technology Center in Tempe. The space is located at 1700 N. Desert Drive. Regional Acceptance is a division of BB&T Bank. It is a national auto finance company. Regional Acceptance was represented by JLL’s Jason Moore and Keith Lammersen. The landlord, WDP Partners, was represented by CBRE’s Bryan Taute.
LOS ANGELES – NAC|Architecture and Osborn Architects have leased 13,000 square feet in the Chinatown district of Los Angeles. The space is located at 837 North Spring Street. The lease is valued at $3.3 million. The space will serve as the new Los Angeles office for the two companies, which recently merged. The firms were represented by Armen Kazaryan of Lee and Associates. The landlord, Redcar Properties, was represented by Jim Jacobsen of Industry Partners.
PRINCETON, N.J. — Cushman & Wakefield has arranged an $18 million loan for 750 College Road East in Princeton. The three-year, non-recourse loan, which was provided by Square Mile Capital Management LLC, features a floating rate. Built in 2001, the three-story, 100,000-square-foot office building is fully leased to two tenants. Gideon Gil, Sridhar Vankayala and Alex Lapidus of Cushman & Wakefield Equity, Debt and Structured Finance represented the borrower, an affiliate of ML7.
ST. PAUL, MINN. — Meritex has brokered the sale of a 282,565-square-foot office building in St. Paul to an undisclosed buyer. The property, located at 444 Lafayette Road, is fully leased to the State of Minnesota-Department of Human Services. The marketing and sale of the property was part of a 677,500-square-foot, four-building portfolio sale coordinated between owners Meritex and NGP Lafayette Portfolio Owners Corp. The sellers cooperated in the joint marketing, contract negotiations, due diligence coordination and final closing for the entire portfolio. Steven Buss, Tom Holtz, Ryan Watts and Judd Welliver of CBRE represented Meritex and NGP. Meritex has been retained by the buyer as property manager for the entire portfolio. Fred Koehler, asset manager for Meritex, will be responsible for park management.
EAST HANOVER, N.J. — Bergman Real Estate Group, in a joint venture with a vehicle managed by Rialto Capital Management, a wholly owned subsidiary of Lennar Corp., has acquired 100 Eagle Rock Avenue, an office building in East Hanover. The partnership purchased the 90,000-square-foot property for $6.4 million or $71 per square foot. Current tenants at the property include Friedman LLP, Burns & McDonnell and Hartford Fire Insurance Company. Michael DiFede and Michael Brody of Garden State Office Properties represented the buyer, while Gary Gabriel and Kyle Schmidt of Cushman & Wakefield represented the seller, TA Associates, in the transaction.
CHARLOTTE, N.C. — Trinity Capital Advisors, owner of the six-building Toringdon Office Park in Charlotte’s Ballantyne submarket, has struck a deal to bring a new Hampton Inn and Suites to one of the office park’s outparcels. The 120-room, six-story hotel will feature a fitness center, indoor/outdoor pool and meeting space. The new hotel will be Beacon IMG’s fourth hotel in the greater Charlotte area. Construction will begin in the fall and wrap up in late 2015 or early 2016. Trinity Capital Advisors has also signed TIAA-CREF to a 24,190-square-foot lease in the Toringdon 4 building. TIAA-CREF will have signage on the exterior of the building that is visible from nearby Interstate 485, as per the lease agreement. Josh Lebowitz and Rob Hinton of CBRE represented TIAA-CREF in the lease transaction. Rhea Greene and Jennifer Kurz represented Trinity Capital Advisors internally.
CHARLESTON, S.C. — NAI Avant has brokered the $4 million sale of 150 Wentworth St. in downtown Charleston. Dexter Rumsey of NAI Avant represented the buyer, Harbor House Inc., in the transaction. Harbor House is a local nonprofit organization that plans to convert the existing property into South Carolina’s first Fisher House, a lodging option where families of military veterans or active duty members can stay for free while their loved ones receive medical care. Construction is slated to begin in 2016.
EDISON AND PISCATAWAY, N.J. — HFF has secured $15.5 million in financing for the Business Centre at Edison, a 12-building office park located in Edison, and 140 Ethel Road West, an industrial building in Piscataway. HFF placed the seven-year, fixed-rate loan with Investor Banks for the borrower, Denholtz Associates. The loan will be used to retire existing debt. Located at 1090 King Georges Post Road in Edison, the 125,981-square-foot Business Centre at Edison is currently 96.9 percent leased. Situated on 6.24 acres in Piscataway, the 108,875-square-foot 140 Ethel Road West is currently 90 percent leased. Jon Mikula, Michael Klein and Michael Lachs of HFF negotiated the financing for the borrower.
Westport, Conn. — Marcus Partners has purchased two office buildings, located at 8 and 10 Wright St. in Westport, as the company’s first investment in its new fund, Marcus Capital Partners Fund II. The buildings, which total 84,000 square feet, offer views of the Saugatuck River and historic Westport Center. Marcus Partners has a $4 million comprehensive renovation planned for the buildings. The renovation will include new enlarged windows, and redesigned and upgraded landscaping, parking decks, lighting, paving, entrances and signage. Terms of the transaction were not released.