Office

Ariel Property Advisors Arranges Two Sales Totaling $5.85M in New York

by Amy Works March 18, 2015

NEW YORK CITY AND MOUNT VERNON, N.Y. — Ariel Property Advisors has brokered the sales of two properties located in New York. In the first transaction, Post Graduate Center for Mental Health, a non-profit developer, acquired a development site at 130-134 East 177th St. in the Bronx’s Mount Hope section. The site, which offers 56,438 buildable square feet, sold for $2.5 million, or $45 per buildable square foot. Scot Hirschfield, Jason Gold, Victor Sozio and Marko Agbaba of Ariel Property Advisors represented the seller, a private investor, and the procured the buyer in the deal. In the second transaction, a two-story commercial building located at 6 N. Third Ave. in Mount Vernon sold for $3.35 million. The 20,000-square-foot elevator building features seven commercial units, six street-level units and a catering hall on the second floor. Hirschfield, Gold, Sozio and Agbaba represented the seller and procured the buyer, both private investors, in the transaction.

March 18, 2015

Colorado Office Western

Invesco Buys Office Building in Denver’s LoDo Neighborhood

by Nellie Day March 18, 2015

DENVER — Invesco Real Estate has acquired a 306,791-square-foot office building in Denver’s Lower Downtown (LoDo) neighborhood for a reported $170 million. The building is located at 1515 Wynkoop Street. The Class AA asset is fully leased to notable tenants like Maximus, Black Hills Corporation and Polsinelli. It sits adjacent to Union Station, which recently underwent a redevelopment. The building has received LEED-Gold certification. It also received the Most Efficient Building in Denver award in 2013. The seller was American Realty Advisors.

March 18, 2015

Arizona Office Western

Kyrene Corporate Center in Tempe Sells for $3.3M

by Nellie Day March 17, 2015

TEMPE, ARIZ. – Kyrene Corporate Center has sold to RMK Holdings for $3.3 million. The 30,000-square-foot office building is located at 9280 South Kyrene Road. It was about 50 percent occupied at the time of sale. Notable tenants include enChoice, Triton Medical Solutions and Great American Title Agency. RMK Holdings is a joint venture between Kent Nielson, Ryan Sandell and Michael Jones, the local principals of Primary Residential Mortgage (PRMI). Holdings will lease 15,000 square feet at the center to PRMI. The seller, Kyrene 919280 LLC, was represented by DTZ’s Eric Wichterman and Mike Coover.

March 17, 2015

Arizona Office Western

ITT Technical Institute Renews Space in Phoenix

by Nellie Day March 17, 2015

PHOENIX – ITT Technical Institute has renewed its lease for 18,000 square feet of office space in Phoenix. The space is located at West 101 Business Center. The center contains three Class A office buildings totaling 118,853 square feet. The center is about 88 percent leased. ITT Technical Institute has more than 130 locations in 38 states across the U.S. ITT Tech currently has four campuses throughout Arizona, serving thousands of students annually. The five-year lease renewal was executed by ViaWest Group and Lee & Associates.

March 17, 2015

Office Texas

CBRE Brokers Medical/Oncology Building Sale In El Paso

by Haisten Willis March 17, 2015

EL PASO, TEXAS — CBRE Capital Markets has arranged the sale of a 42,750-square-foot, three-story medical/oncology facility in El Paso. El Paso-based Verchel Medical Properties purchased the facility from PlainsCapital Bank for an undisclosed price. The facility is located at 4532 N. Mesa St. on the western side of El Paso, and is within six miles of 14 hospitals and ambulatory surgery centers. The vacant property comes furnished with fixtures and equipment. The asset was built in 2009 on three acres, and includes a covered patient drop-off area, a retail-style pylon sign and available building signage. It was also designed to accommodate high patient volumes. Scott Herbold of CBRE Investment Properties | Healthcare, and William Caparis, SIOR, of CBRE’s El Paso office, represented the seller.

March 17, 2015

Loans Office Texas

Venture Arranges Office Lease in Dallas

by Haisten Willis March 17, 2015

DALLAS — Venture Commercial Real Estate has arranged the lease of an 11,400-square-foot space in Dallas’ Design District. Paul Morgan Photography Inc. will occupy the space located at 921 N. Riverfront Boulevard. McGregor Converse of Venture represented the tenant in lease negotiations. John Bowles of CASE Commercial Real Estate Partners represented the landlord. Photography business Paul Morgan and People relocated its media studio and corporate office to this location from 333 1st Ave. in Deep Ellum.

March 17, 2015

New Jersey Northeast Office

CBRE Group Brokers Sale of 220,877 SF Office Building in New Jersey

by Amy Works March 17, 2015

PARK RIDGE, N.J. — CBRE Group has brokered the sale of an office building located at One Sony Dr. in Park Ridge. Hornrock Properties purchased the 220,877-square-foot building from Sony Electronics Inc. for an undisclosed price. As part of the sale, the building will be partially leased back to Sony Electronics for two years. Jeffrey Dunne, Kevin Welsh, Brian Schulz, Jeffrey Babikian of CBRE represented the seller and procured the buyer in the transaction.

March 17, 2015

MidCity Plaza Atlanta Perimeter FOCUS Brands

Georgia Office Southeast

FOCUS Brands to Lease Entire MidCity Plaza in Atlanta for New Headquarters

by John Nelson March 17, 2015

ATLANTA — FOCUS Brands Inc. has leased MidCity Plaza, a Class A, 63,000-square-foot office building located at I-285 and GA 400 in Atlanta’s Central Perimeter submarket. MidCity Real Estate Partners purchased the property, located at 5620 Glenridge Drive, in mid-2013 and was completely converted to Class A standards over the course of a nearly two-year process. The office building is part of a mixed-use development including five restaurants (Blue Moon Pizza, Taziki’s, Firehouse Subs, Qdoba and Sushi Nami) and Windsor at Glenridge, a Class A apartment community developed by Wood Partners. FOCUS Brands is the parent company of Cinnabon, Auntie Anne’s, Moe’s Southwest Grill, McAlister’s Deli, Schlotzsky’s Bakery and Café and Carvel brands.

March 17, 2015

California Office Western

Wpromote Leases Space at Campus 2100 in El Segundo

by Nellie Day March 16, 2015

EL SEGUNDO, CALIF. – Wpromote has leased 34,492 square feet at Campus 2100 in El Segundo. The three-building campus is the former home of Rhythm & Hues Studios. The online advertising firm signed a 7.5-year lease at the property. It is relocating its headquarters from another nearby office building where it occupied 21,335 square feet. Wpromote was represented by JLL’s Steve Solomon and Eric Adams. Tom Sheets and Chris Sinfield of Cushman & Wakefield represented the landlords, Rockwood Capital, LLC (Rockwood) and Marshall Property & Development, in this transaction.

March 16, 2015

Arizona Office Western

ConnectionsAZ Leases 36,000 SF at Phoenix Memorial Center

by Nellie Day March 16, 2015

PHOENIX – ConnectionsAZ has leased 36,000 square feet at Phoenix Memorial Center. The center is located at 1201 S. 7th Ave. in Phoenix. The building is the former Phoenix Memorial Hospital. The physician-led company specializes in emergency/crisis psychiatric services. It plans to operate a patient intake center from this location. ConnectionsAZ was represented by Kevin Lange of Keyser. The landlord, Memorial Key LLC, was represented by Kate Morris and Vince Femiano of CBRE’s Phoenix office.

March 16, 2015

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