HAVERHILL, MASS. — NorthMarq Capital’s Boston regional office has secured $2.5 million in acquisition financing for an office building in Haverhill. Located at 26 Parkridge Road, the property offers 42,000 square feet of office space. Ed Riekstins of NorthMarq Capital arranged financing, which has a 20-year term and a 25-year amortization schedule, through its correspondent relationship with a life insurance company.
SEATTLE – NorthEdge, a 212,000-square-foot office property in the North Lake Union submarket of Seattle, has received $56.4 million in construction financing. The Class A development will be located on the southeast corner of North 34th Street and Woodlawn Avenue. NorthEdge will be situated in the Fremont neighborhood. Notable employers in this area include Google, Adobe and Tableau Software. The four-story office development will include 208,000 square feet of office space, 4,000 square feet of retail and a two-level, 314-space subterranean parking garage. In an effort to attract the burgeoning tech crowd of Seattle, the project will feature exposed concrete, open ceilings, and full-height glass windows overlooking Lake Union and the Downtown Seattle skyline. The project is being developed by Touchstone Corporation and AIG Global Investment Group. The three-year construction loan was arranged by HFF’s Bruce Ganong and Brandon Roth. It was provided by Bank of the Ozarks.
DETROIT — Bernard Financial Group has arranged a $25 million CMBS loan to refinace One Woodward, a 29-story office property in Detroit. The 358,888-square-foot, Yamasaki-designed building is located on Woodward Avenue and includes underground parking. Dennis Bernard and Kevin Kovachevich of Bernard Financial Group arranged the loan for the borrower, One Webward Avenue LLC.
ADDISON, TEXAS — Veriten Solutions LLC will relocate its headquarters by the end of 2014 to Marsh Business Park East in Addison. The company will move into a 12,237-square-foot property located at 3752 Arapaho Road, one of six buildings in the 179,739-square-foot business park. The park is 88 percent occupied. Veriten, a technology company focused on enterprise application design and development services, is currently headquartered at another location in Addison. Jason Miller and Susan Singer of Bradford Commercial Real Estate Services represented the landlord, P7/Sealy Marsh Arapaho Owner LP.
NASHVILLE, TENN. — Brasfield & Gorrie has signed a lease to occupy office space at 1201 Demonbreun, a $50 million, 15-story office tower in Nashville’s Gulch neighborhood. Brasfield & Gorrie is the general contractor of the 680,000-square-foot project, which includes 305,000 square feet of office space and a 375,000-square-foot parking deck with 950 spaces. The project team includes developer Eakin Partners and architect Hastings Architecture Associates. Brasfield & Gorrie expects to deliver 1201 Demonbreun in late 2016 and move in to its office space in spring 2017. Other committed tenants include talent agency William Morris Endeavor, law firm Neal & Harwell and Sony Music Nashville.
CAMBRIDGE, MASS. — JLL Capital Markets team has brokered the sale of Blackstone Science Square, a Class A office/lab building in Cambridge. Centremark Properties sold the four-story, 78,672-square-foot property to Brickman Associates for $31.5 million. Located at 237 Putnam Ave. and 19-23 Blackstone St., the property has undergone $8.1 million of capital improvements over the past five years. The improvements include significant infrastructure upgrades to accommodate life science lab tenants and new lobby and common area finishes. Additionally, there is a 94-space parking lot adjacent to the building. Current tenants include Good Start Genetics Inc., Ambri, Genewiz and Cireca Thernostics. Frank Petz and Jessica Hughes of JLL led the JLL Investments Sales team on the transaction.
COSTA MESA, CALIF. – Snell & Wilmer law firm has renewed its lease for 53,000 square feet at Plaza Tower in Costa Mesa. The Class A property is located at 600 Anton Blvd. It sits adjacent to South Coast Plaza and the Segerstrom Center for the Arts. Snell & Wilmer was represented by CBRE’s Kevin Bender and Steve Bay. The landlord was represented by Rick Kaplan, Robert Lambert and Matt Moore of Cushman & Wakefield.
PHOENIX – Gateway Office Center, a 31,557-square-foot office complex in Phoenix, has sold to Garnett Capital Corporate for $3 million. The center is located at 4130 E. Van Buren Ave., within the Phoenix Gateway Center Office Park. It was built in 1987. The property is fully leased. The seller, Brentwood Gateway Center, was represented by Eric Wichterman, Mike Coover and Gordon Raguse of Cassidy Turley.
DOWNERS GROVE, ILL. — J.C. Anderson Inc. will complete a 30,000-square-foot office renovation for CompuSystems Inc. (CSI) in Downers Grove, an eastern suburb of Chicago. The property is located at 2655 Warrenville Road (Corridors II). The build-out at Corridors II will serve as the new headquarters for CSI, a major registration service provider for the convention trade show industry. The new space will include the addition of private offices, conference rooms, workstations, break rooms, training rooms as well as open work areas. Construction is scheduled for completion in December. The firm, previously located at 2805 S. 25th Ave. in Broadview, was founded in 1976 and employs approximately 200 people. Dawn Newman of Newman Architecture is providing the architectural services and Syska Hennessy Group is providing engineering services for the project. Jason Hawkins, Greg Garland and Bill Dennison led the J.C. Anderson construction team.
NAPERVILLE, ILL. — Morgan/Harbour has completed a 16,256-square-foot office build-out for Thatcher Technology Group in Naperville. The property is located at 55 Shuman Blvd. Founded in 1999, Thatcher Technology Group is a provider of sales performance management software to the direct selling industry. The firm has relocated to this new property from another Naperville location. The office build-out included the construction of private offices, conference rooms, a copy room and large break room. Clay Scheller, John Becker and Kieran Towe led Morgan/Harbour’s construction team. The DePalma Group provided architectural services for the project.
