PARAMUS, N.J. — United Water Management & Services Inc. has signed a 20-year lease for 116,360 square feet of space at Mack-Cali Centre VI in Paramus. Located at 461 From Road, the five-story, 253,554-square-foot office building is currently 86.5 percent leased. The property features an on-site cafeteria and roving security. The building is part of Mack-Cali Realty Corp.’s 279-property portfolio.
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ROYAL OAK, MICH. — Friedman Integrated Real Estate Solutions has arranged the sale of a 3,900-square-foot office building in Royal Oak, a northern suburb of Detroit. The property is located at 116 East 7th St. ?The office building is less than a mile from Oakland Community College – Royal Oak Campus. The seller, Kayser Street Enterprises LLC, sold the space to Rabbi Eli Mayfield. The new owner plans to remove the current building and replace it with a community center for young adults. Rob Hibbert of Friedman represented the seller.
IRVINE, CALIF. — J & R Main Street LLC has purchased a 143,695-square-foot office building and an adjoining data center in Irvine for $36 million. The property is located at 2525 Main Street. It is situated near the 405 and 550 freeways in the Airport Area submarket. The building is 85 percent leased to tenants like Advanstar Communications, OSI Consulting and a colocation facility operated by GrupoSMS. The LLC was represented by JLL’s Joe Bevan. The seller, Main Street Office Partners LLC, was represented by David Dowd of Cushman & Wakefield. Bevan will handle the building’s leasing, along with JLL’s Wade Clark and Bryce Mordoff. The firm’s property management team will also manage the building.
MARIETTA, GA. — Atlanta-based SDM Partners has purchased Sandy Plains Business Park, a 167,329-square-foot office/flex business park in Marietta, a northwest suburb of Atlanta. SDM purchased the three-building asset from an unnamed global investment manager. The property was 94 percent leased at the time of the sale. The Bank of North Georgia, represented internally by Mark Hancock, provided acquisition financing, and Rooker Properties provided equity financing. Colliers International’s Atlanta office will provide leasing and property management services at the business park. Matt Tritschler of Avison Young represented the seller in the transaction.
WARREN, N.J. — HFF has secured a $46.3 million loan, on behalf of Normandy Real Estate Partners, for Center 78 in Warren. Located at 184 Liberty Corner Road, the Class A property offers 371,680 square feet of office space. The LEED Gold-certified property was originally built in 1982 and renovated between 2012 and 2013. Jon Mikula and Michael Lachs led the HFF team that arranged the three-year, floating-rate loan with Square Mile Capital Management LLC.
NORWALK, CONN. — Matrix Investment Group has acquired 535 Connecticut Avenue, a 179,000-square-foot office building in Norwalk. 535 Connecticut Avenue LLC, a joint venture between KABR Real Estate Investment Partners and Blackpoint Partners, sold the property for $13.5 million. The office building, which is 45 percent leased, features a fitness center, cafeteria and 95 percent covered parking. Jeffrey Dunne and Steven Bardsley of CBRE Group’s Institutional Properties represented the buyer and the seller in the transaction.
DALLAS — UBS, a Switzerland-based financial services firm, has signed a 27,948-square-foot lease at Legacy Tower. UBS will relocate from its offices at the Spectrum and 5950 Sherry Lane in Dallas to the 12th floor of Legacy Tower late this year. The new location will serve as the company’s far north Dallas wealth management office. Legacy Tower is located at the southeast corner of the Dallas North Tollway and Legacy Drive. The building is pre-certified LEED Gold.Dennis Barnes, Celeste Fowden and Hunter Lee with CBRE Dallas represented the landlord, Trammell Crow Company and Principal Real Estate Investors, in the transaction. Mike Wyatt and Bill McClung with Cushman & Wakefield represented UBS.
WASHINGTON, D.C. — Carr Properties has sold Georgetown Plaza, a five-story, 150,097-square-foot office building located at 2233 Wisconsin Ave. N.W. in Washington, D.C. An affiliate of JOSS Realty Partners purchased the asset for roughly $26.9 million. Eric Berkman and Steve Gichner of Cushman & Wakefield represented Carr Properties in the transaction. Carr Properties also purchased an 11-story, Class A office building located at 2001 Pennsylvania Ave. N.W. in Washington’s central business district. Carr Properties acquired the fully leased property, also known as the James Monroe Building, for $107.8 million. The acquisition was financed with a $65 million, 10-year loan from MetLife, as well as cash on hand.
MORRIS TOWNSHIP, N.J. — HFF has arranged $47.5 million in financing for a three-building office complex located at 412 Mt. Kemble Ave. in Morris Township. Built in 1985, the complex offers 477,848 square feet of office space in three interconnected buildings. HFF placed the three-year, floating-rate loan with Colony Mortgage Capital and CorAmerica for the borrower, Keystone Property Group. The borrower plans to use the loan to make capital improvements to the office complex. Jon Mikula, Jim Cadranell and Andrew Roland of HFF led the debt placement team that arranged the financing.
NEW YORK CITY — MediaMath, a global technology company, has signed a 15-year lease for 106,000 square feet of office space at Four World Trade Center. The company plans to consolidate its more than 300 New York-based employees from three Midtown locations into the 44th, 45th and 46th floors of the 72-story tower. MediaMath plans to take occupancy in early 2015. With this lease, 70 percent of the 7.4 million square feet of newly built space at One, Four and Seven World Trade Center is now leased. Harly Stevens and Mike Rizzo of CBRE represented the tenant, while Mary Ann Tighe, Steven Siegel, Ken Meyerson and Even Haskell, also of CBRE, represented the landlord, Silverstein Properties, in the transaction.