Office

Trinity Capital Advisors Announces New Hotel, TIAA-CREF Offices at Toringdon

by John Nelson October 3, 2014

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.

October 3, 2014

Office South Carolina Southeast

NAI Avant Brokers $4M Sale of Downtown Charleston Office Building

by John Nelson October 3, 2014

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.

October 3, 2014

Industrial Loans New Jersey Northeast Office

HFF Secures $15.5M Loan for Two Denholtz-Owned Properties

by Amy Works October 3, 2014

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.

October 3, 2014

Connecticut Northeast Office

Marcus Partners Purchases Two Office Buildings Totaling 84,000 SF

by Amy Works October 3, 2014

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.

October 3, 2014

Office Texas

Business Center Changes Hands in Metro Dallas

by Haisten Willis October 2, 2014

GRAPEVINE, TEXAS — Carpenter Business Center, a 15,064-square-foot office/medical building located at 1340 Main St. in Grapevine has been sold to a local investor. The property, 20 miles northwest of Dallas, sits near the DFW International Airport. Mark Boone of Realty Capital management represented the seller in the transaction. Realty Capital is the property manager at Carpenter Business Center.

October 2, 2014

District of Columbia Office Southeast

CBRE Arranges 148,613 SF Lease Renewal at One Metro Center in D.C.

by John Nelson October 2, 2014

WASHINGTON, D.C. — CBRE has arranged a 148,613-square-foot lease renewal at One Metro Center, a 421,235-square-foot trophy office building in Washington, D.C.’s East End neighborhood. The six-story office property is located at 701 13th St. N.W., approximately three blocks from the White House. White & Case LLP, an international law firm, renewed its lease with the owner, Jamestown LP. Randy Harrell, Kevin Howard, Joe Coleman and Melissa Byrd of CBRE represented Jamestown in the lease transaction. Tom Doughty and Greg McCavera of JLL represented White & Case.

October 2, 2014

New York Northeast Office

Wendel to Expand, Relocate Offices to Centerpointe Corporate Park

by Amy Works October 2, 2014

WILLIAMSVILLE, N.Y. — Wendel, a design and construction firm, has signed a lease to expand and relocate its Amherst, N.Y., corporate headquarters to Centerpointe Corporate Park in Williamsville. The design firm will occupy approximately 37,000 square feet at 375 Essjay Road in Centerpointe Corporate Park, Ciminelli’s flagship corporate park. Wendel expects to take occupancy in April 2015. This relocation will expand the firm’s office space by 10,000 square feet. Timothy Malchow of Ciminelli Real Estate Corp. represented the owner, Centerpointe Corporate Holdings LLC, in the transaction.

October 2, 2014

California Office Western

Shorenstein Buys Champion Station Office, R&D Campus in San Jose

by Jaime Lackey October 1, 2014

SAN JOSE, CALIF. — Shorenstein Properties LLC has acquired Champion Station, a 426,000-square-foot office and R&D campus in North San Jose, for an undisclosed sum. The low-rise campus is located at 110-180 West Tasman Drive. The acquisition includes the first phase of the station, which contains four buildings that are fully leased to Cisco on a short-term basis. The property is located less than two miles from Levi’s Stadium, the new home of the San Francisco 49ers. The seller was TMG Partners. Champion Station is the first investment completed by Shorenstein Realty Investors Eleven, a closed-end investment fund formed earlier this year with $1.22 billion in committed capital from Shorenstein and its investors.

October 1, 2014

Arizona Office Western

American Traffic Solutions Leases Space at Waypoint Office Campus in Mesa

by Jaime Lackey October 1, 2014

MESA, ARIZ. — American Traffic Solutions has leased Building One at Waypoint office campus in Mesa. The building is located near Phoenix Sky Harbor International Airport and Mesa Riverview, on the borders of Mesa, Scottsdale and Tempe. Waypoint office campus will be a two-building, Class A office campus. The second 150,000-square-foot building will soon be under construction. The landlords, Lincoln Property Company and Harvard Investments, are represented by CBRE’s Dave Carder, Luke Walker and Eric Schultz.

October 1, 2014

Loans Multifamily New York Northeast Office

Meridian Capital Arranges $228.5M Construction Loan for Flatotel Conversion

by Amy Works October 1, 2014

NEW YORK CITY — Meridian Capital Group has arranged $228.5 million in construction financing for the condominium conversion of the former Flatotel hospitality property in New York City. A partnership between Chetrit Group and Clipper Equity plan to convert the asset, which is located at 135West 52th St., into a five-story boutique office condominium and a 37-floorluxury residential condominium property. The 55,000-square-foot office component will be located on floors two through seven and approximately 109residential units will span floors eight through 47. The total project is estimated to cost $300 million. Aaron Birnbaum and Emanuel Westfried of Meridian’s New York City headquarters negotiated the two-year, non-recourse, interest-only loan, which features a floating LIBOR-based interest rate and a one-year extension option.

October 1, 2014

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