Office

Jamestown Buys Market Street Office Building in San Francisco

by Nellie Day January 14, 2015

SAN FRANCISCO — Jamestown has acquired a 92,023-square-foot office building in San Francisco for a reported $65.2 million. The historic creative office property is located at 731 Market Street. The building is situated on the south side of Market Street, between Third and Fourth streets, near the convergence of the SOMA, Mid-Market, Union Square and Financial District neighborhoods. The six-story property is fully leased to eight tenants, including Stitch Fix, ConnectSolutions and Liftopia. It also contains 12,067 square feet of ground-floor retail that is occupied by CVS. The building was constructed in 1908, when it was known as the Bancroft Building. It recently received an extensive renovation that included upgrades to the building systems and lobby. The asset was acquired by the Jamestown Premier Property Fund, the firm’s flagship core and core-plus investment vehicle for institutional investors. The fund also owns 799 Market Street, a neighboring creative office and retail asset that is fully occupied by technology tenants, in addition to Ghirardelli Square, Waterfront Plaza and Alameda South Shore Center. The seller, Harvest Properties, was represented by JLL.

January 14, 2015

Georgia Office Southeast

NCR Corp. to Build World Headquarters in Midtown Atlanta, Satellite Campus in North Atlanta

by John Nelson January 14, 2015

ATLANTA — NCR Corp., a consumer transaction technologies company with approximately 29,000 employees worldwide, has entered into an agreement to build a new world headquarters campus in Midtown Atlanta. NCR also plans to maintain its presence in the northern suburbs of Atlanta with a second campus. The new headquarters will be located at Centergy North at Technology Square on Spring Street. The new campus will be ready late in 2017 or early in 2018. The location for the campus in the northern suburbs is yet to be finalized, but it is expected to open during a similar timeframe, according to NCR Corp. “Technology is a critical sector for our local economy and we are honored to have NCR locate its global headquarters in Atlanta,” says Atlanta Mayor Kasim Reed. “Every day, businesses are voting with their feet and choosing the city of Atlanta as the place to bring their dreams and build their businesses. The best companies in the world are building their brands here, strengthening our economy and confirming Atlanta’s place as a leading city for business.”

January 14, 2015

California Office Western

Rescare Workforce Leases Space in Garden Grove

by Nellie Day January 13, 2015

GARDEN GROVE, CALIF. – Rescare Workforce Services has leased 19,718 square feet of office space in Garden Grove. The space is located at 7077 Orangewood Ave. Rescare was represented by CBRE. The landlord, Burke Investment Grove LP, was represented by Shaun McCullough and Say Jeon of Lee & Associates.

January 13, 2015

Office Texas

CBRE Arranges $13.7M in Financing for Office Property in Metro Dallas

by Haisten Willis January 13, 2015

IRVING, TEXAS — CBRE Capital Markets’ debt and structured finance group has arranged financing for Regent Center I and II in Irving. CBRE worked on behalf of Founders Properties LLC to obtain a $13.7 million non-recourse loan. The seven-year, fixed-rate loan was secured through Woodmen of the World Insurance Society. The Regent Center Portfolio consists of two office buildings totaling 150,625 square feet that are 100 percent leased by tenants including Devry University, Pulte Group, Staples Inc. and Aramark Educational Services Inc. The Regent Center buildings are situated less than a mile west of I-625 and two miles north of US Highway 114. Greg Greene, Scott Lewis and Matt Ballard of CBRE’s Dallas debt and finance group originated and secured financing on behalf of the borrower.

January 13, 2015

Office Texas

NAI Negotiates Sale of Office Property in Houston

by Haisten Willis January 13, 2015

HOUSTON — NAI Partners has negotiated the sale of the an office property located at 4201 FM 1960 West known as One Northchase Park near Torrey Chase Boulevard. Jaguar Investors Ltd. was the seller of the glass-clad, six-story, multi-tenant office property totaling 85,213 square feet. Doug Pack of NAI Partners facilitated the transaction. The buyer was not named.

January 13, 2015

Loans Midwest Minnesota Mixed-Use Office Retail

NorthMarq Secures $18.4M Loan for Marquee Place in Wayzata, Minn.

by Danielle Everson January 13, 2015

WAYZATA, MINN. — NorthMarq Capital has arranged the $18.4 million refinancing of Marquee Place, a 72,000-square-foot retail/office property Wayzata, a suburb 11 miles west of Minneapolis. The property is located at 641-681 Lake St. E. The mixed-use property features unobstructed lake views. The 12-year loan incudes a 25-year amortization schedule. NorthMarq arranged financing for the undisclosed borrower through its correspondent relationship with a life insurance company.

January 13, 2015

Illinois Midwest Office

Millennium Properties Brokers Sale of Office Property in Northbrook, Ill.

by Danielle Everson January 13, 2015

NORTHBROOK, ILL. — Millennium Properties R/E has brokered the sale of seven office condominiums totaling 19,567 square feet in the Sky Harbor Business Park in Northbrook, a suburb of Chicago. The units were part of a recently developed two-story office building located at 304 Wainwright St., which included nine properties totaling 23,958 square feet. A medical user purchased the office condos for an undisclosed sales price. The new owner plans to occupy several units and lease the rest of the space. The seven units range from vanilla-box condition to move-in ready with two units leased at the time of sale. The Sky Harbor Business Park is located near Edens Expressway Spur (I-94) and the Tri-State Tollway (I-294).

January 13, 2015

New York Northeast Office

Fosun Property Holdings Rebrands One Chase Manhattan Plaza as 28 Liberty

by Amy Works January 13, 2015

NEW YORK CITY — Fosun Property Holdings has rebranded One Chase Manhattan Plaza as 28 Liberty effective immediately as part of a comprehensive repositioning program for the property. Designed by Gordon Bunshaft, the 60-story, 2.2-million-square-foot office tower will undergo a renovation, including upgrades to the lobby, elevators, critical infrastructure and plaza. When complete, the redeveloped property will offer 1 million square feet of modern office space and more than 200,000 square feet of high-end retailers. Forsun acquired the property in December 2013. JLL has been tapped as the leasing agent for the building.

January 13, 2015

North Carolina Office Southeast

Ziff Properties Sells Three Office/Industrial Assets in Charlotte for $10M

by John Nelson January 13, 2015

CHARLOTTE, N.C. — Ziff Properties Inc. has sold three office and light industrial assets in Charlotte for a combined $10 million. The assets include Arcade Square, Coffey Creek and Rubin Business Center II. Rob Cochran and Jared Londry of DTZ Charlotte represented Ziff Properties in the transaction. Christian Chamblee was the internal representation for Ziff Properties.

January 13, 2015

Healthcare Office Oregon Western

MBRE Healthcare Buys Mt. Scott Professional Center II in Portland

by Nellie Day January 13, 2015

PORTLAND, ORE. – MBRE Healthcare has acquired Mt. Scott Professional Center II, a 48,500-square-foot medical office building in the Portland submarket of Happy Valley, for $11 million. The center is located off SE Johnson Creek Boulevard. Notable tenants include Mt. Scott Surgery Center, Metropolitan Pediatrics and Adventist Health. MBRE was represented by Brian Norton of KW Commercial. The seller, Mt. Scott Professional Center II LLC, was represented by Raymond Duchek and Thomas McDowell of Norris & Stevens.

January 13, 2015

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