Office

Carr Properties Begins Demolition, Pre-Construction on Arlington Office Building

by John Nelson December 15, 2014

ARLINGTON, VA. — Carr Properties has begun the demolition and pre-construction phase for a 175,000-square-foot, eight-story office building located at 2311 Wilson Blvd. in Arlington. The building, which is designed to achieve LEED Gold certification, will be ready for occupancy in 2017. The office building will feature street-level retail space, a conference room, restaurant and café, childcare facility, health club, bike room, rooftop terrace and an 18,000-square-foot urban park with gardens. Carr Properties has hired Spencer Stouffer, Krysta Herring and Phillip Thomas of Cassidy Turley to handle leasing the office building.

December 15, 2014

Northeast Office Pennsylvania

Keystone Property Group Unveils VEVA Office Complex

by Amy Works December 15, 2014

BLUE BELL, PA. — Keystone Property Group has unveiled VEVA, a 425,000-square-foot office complex in Blue Bell. Formerly known as Sentry Park West, the property features world-class lifestyle amenities and cutting-edge infrastructural upgrades. Situated on 16 acres on VEVA Boulevard, VEVA comprises seven mid-rise buildings, which have been completely renovated. The office campus is 83 percent leased by a variety of tenants, including Cigna, Citizens Bank, Fiberlink Communications, inVenity Health Clinical, Morgan Stanley Smith Barney, and Fesnak and Associates.

December 15, 2014

Massachusetts Northeast Office

Design Complete for Boston’s One Channel Center

by Amy Works December 15, 2014

BOSTON — ADD Inc., now with Stantec, has completed the design for One Channel Center, the final phase of the Commonwealth Ventures’ 2.1 million-square-foot Channel Center in Boston. The eleven-story, 500,000-square-foot One Channel Center will be home to 4,000 employees of State Street Bank and is part of a multi-building master plan that includes a new two-acre park and a ten-level, 900-car garage. Located at One Iron St., the $175 million project features a two-story lobby and various green elements, including continuous insulation on the facades, efficient mechanical systems, recycled and local materials, and low VOC materials. The building is expected to attain LEED Silver certification upon completion. ADD Inc. recently joined Stantec’s Buildings Group, a team of more than 2,500 design and allied professionals.

December 15, 2014

Midwest Missouri Office

Fox Architects Designs $150M RGA Global Headquarters in Chesterfield, Mo.

by Danielle Everson December 12, 2014

CHESTERFIELD, MO. — The new $150 million Reinsurance Group of America (RGA) global headquarters will open this month in Chesterfield, a suburb of St. Louis. Fox Architects designed the 405,000-square-foot stone, glass and steel building, which is one of the largest projects in the St. Louis region since Centene Plaza was completed in 2010, and the largest local headquarters project in at least 20 years. The headquarters’ two five-story towers are linked by a two-story atrium lobby and amenities bar, which features 10,000 square feet of training facilities; a 7,500-square-foot fitness center; a 20,000-square-foot café, kitchen and barista; and a 500-seat cafeteria that can function as a 700-seat auditorium. The complex also includes 580,000 square feet of parking. Built on a 17-acre site, the complex will accommodate RGA’s workforce expansion over the next several years, and is master planned to include a third building for long-term growth. Fox Architects designed the interiors and was RGA’s consultant to international architectural firm Gensler on core and shell design. Clayco was the design-build contractor.

December 12, 2014

Office Texas

Tanglewood Acquires Office Building in Houston

by Haisten Willis December 12, 2014

HOUSTON — Tanglewood Property Group has acquired 2000 Bering Drive in Houston. The 192,000-square-foot office building is located in the Tanglewood area just west of the Galleria. The property is 97 percent leased. This is Tanglewood’s second office building acquisition in 2014, the company purchased 5300 W. Sam Houston Pkwy. N., earlier this year. Henry Hagendorf and Cliff Rudolph represented Tanglewood in the acquisition. Houston-based Tanglewood Property Group owns and manages more than 1.4 million square feet of commercial office space, mostly in the uptown Galleria submarket of Houston.

December 12, 2014

California Office Western

KBS Capital Advisors Buys Ten Almaden Office Building in San Jose

by Nellie Day December 12, 2014

SAN JOSE, CALIF. — KBS Capital Advisors has purchased Ten Almaden, a 309,255-square-foot office building in San Jose, for a reported $116.7 million. The Class A office tower is located at its namesake, 10 Almaden Blvd. Ten Almaden is situated near the San Jose Diridon Transit Station, which is serviced by Caltrain, Amtrak, ACE commuter rail, VTA light rail, bus lines and the planned California High-Speed Rail that will connect downtown San Jose to San Francisco and the peninsula. It is also near San Jose’s Norman S. Mineta International Airport, Interstates 280, 680, 880, US 101, and Highways 87 and 17. The LEED-Gold-certified office tower was built in 1988 and renovated in 2010. It features a three-story atrium and lobby, fitness center with outdoor pool, sauna, showers, a six-level parking structure and a café. Ten Almaden is currently 89 percent leased. Notable tenants include Citibank, Comcast, Robert Half International, Rosetta Marketing Group and Turner Construction Company. The seller, Equity Office Properties, was represented by HFF’s Steven Golubchik, Michael Leggett and John Simerlein.

December 12, 2014

Northeast Office Pennsylvania

Hayden Maguire Real Estate Fund Acquires Malvern Office Property for $23M

by Amy Works December 12, 2014

MALVERN, PA. —Hayden Maguire Real Estate Fund has made its second acquisition. The fund acquired a 151,447-square-foot office building, located at 1200 Atwater Dr. in Malvern, for $23 million. The property features modern architectural design, light-filled lobbies under glass canopies and an on-site café. The property is situated on 388 acres surrounding an 80-acre spring-fed lake. Hayden Maguire Real Estate Investments and Maguire Investment Management are partners of the fund.

December 12, 2014

Florida Office Southeast

Lingerfelt CommonWealth Acquires 28-Story Office Building in Jacksonville

by John Nelson December 12, 2014

JACKSONVILLE, FLA. — Lingerfelt CommonWealth Partners has acquired Riverplace Tower, a Class A, 28-story office building in Jacksonville’s central business district. The 425,223-square-foot tower is located at 1301 Riverplace Blvd. The property was built in 1967 and renovated in 1994 and 2005. Gate Riverplace Co., a subsidiary of Gate Petroleum, sold the office tower to Lingerfelt CommonWealth. Riverplace Tower’s tenant roster includes Rogers Towers PA, Rayonier Inc., Adecco USA and ClubCorp USA Inc. The buyer has selected a property management affiliate, CommonWealth Partners, to manage the property. JLL will handle leasing the property.

December 12, 2014

Midwest Minnesota Office

NorthMarq Capital Arranges $203.5M in Acquisition Financing for Office Park in Bloomington, Minn.

by Danielle Everson December 11, 2014

BLOOMINGTON, MINN. — NorthMarq Capital’s Minneapolis office has arranged a $203.5 million loan on behalf of an investment partnership between MetLife and Allstate Insurance Co./Allstate Life Insurance Co. for the acquisition of Normandale Lake Office Park. Northwestern Mutual is the lender. Located in the southwest suburb of Bloomington, Normandale is situated on 23 acres overlooking the 2,500-acre Normandale Lake recreational area. Amenities include a childcare facility, two full-service restaurants, conference space and two fitness centers. The complex consists of 1.7 million square feet of Class A office space in five towers, which are connected by enclosed skyways. The park is 93 percent occupied, an increase of 10 percent in the last two years. Tenants at the park include Prime Therapeutics, Aon Benfield, Schwan’s, Towers Watson, Tata Consultancy Services, Emerson Corporation and Oracle Corp. The sale was the second largest suburban office sale in the United States year-to-date in 2014. NorthMarq’s Minneapolis team also included James Hoopes, Daniel Trebil, Michael Padilla and Jon Miller.

December 11, 2014

Office Texas

Rosemont Realty Acquires Office Tower in Houston

by Haisten Willis December 11, 2014

HOUSTON — Rosemont Realty LLC has acquired Kirkwood Tower in Houston. The 15-story tower located at 11757 Katy Freeway includes 285,682 rentable square feet of Class A office space. The acquisition brings Rosemont’s total square footage in metro Houston to nearly 2.5 million square feet. The company also owns the adjacent Kirkwood Atrium II property. Rosemont purchased the office building in a joint venture with new Rosemont investor Central Properties. A joint venture between Denver-based Amstar and Dallas-based Frontier Equity was the seller. The building was constructed in 1984, with major capital improvements made between 2008 and 2013. Tenants include Texon LP, Skyline Executive Suites Ltd., KCA Deutag LLC, First Solar Inc., Greene’s Energy Group LLC and Mac Haik Holding Co.

December 11, 2014

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