Office

Colliers Arranges $22.8M Sale of Office Property Near St. Louis

by Danielle Everson October 24, 2014

WEBSTER GROVES, MO. — Colliers International has arranged the $22.8 million sale of a single-tenant, triple-net-leased office property in Webster Groves, 11 miles southwest of St. Louis. The 90,000-square-foot research and development facility is located within the Owen Ridge Business Park at 381-385 Marshall Ave. Steve Tharpe, Gwen Knight and Spencer Toder of Colliers International represented the seller, Owen Ridge Associates LLC. The Kase Group, an affiliate of Sperry Van Ness based in northern California, represented the buyer, New York-based American Realty Capital.

October 24, 2014

California Office Western

Cypress West Partners Buys Glendale Medical Office Building for $29M

by Nellie Day October 24, 2014

GLENDALE, CALIF. – Cypress West Partners has acquired a 76,758-square-foot medical office building in Glendale for $29 million. The four-story building is located at 1500 E. Chevy Chase Drive. The facility was built in 2008. It sits on the Glendale Adventist Medical Center campus. Cypress West was represented by DAUM Commercial Real Estate Services.

October 24, 2014

California Office Western

Mission Health Center in Rancho Santa Margarita Sells for $7.8M

by Nellie Day October 24, 2014

RANCHO SANTA MARGARITA, CALIF. – Mission Health Center, a 23,289-square-foot medical office building in the Orange County submarket of Rancho Santa Margarita has sold to Cypress West Realty Partners LLC for $7.8 million. The center is located at 22032 El Paseo within the Rancho Santa Margarita Town Center. Mission Health Center was built in 2001. It was 77 percent leased to six medical and dental tenants. The largest tenant is Mission Hospital Regional Medical Center. Dan Vittone and Alan Pekarcik of Avison Young represented both the buyer and the unnamed seller in this transaction.

October 24, 2014

New Jersey Northeast Office

One Liberty Properties Sells 106,680 SF Office Building for $40M

by Amy Works October 23, 2014

PARSIPPANY, N.J. — One Liberty Properties has sold an office building, located at 45 Waterview Blvd., for $40 million. The 106,680-square-foot building is 100 percent leased on a long-term basis by Royal DSM, a global life science and material science company, for its North American headquarters. Jeffrey Dunne, Kevin Welsh, Brian Schulz and Frank Maresca of CBRE Group’s Institutional Properties team represented the seller and procured the buyer, a fund invested in by an offshore entity and first-time U.S. buyer, in the deal. The fund is managed by JM Capital LLC and advised by Nadlan Advisors LLC.

October 23, 2014

Michigan Midwest Office

Friedman Brokers Sale of 187,000 SF Office Building in Troy, Mich.

by Danielle Everson October 23, 2014

TROY, MICH. — Friedman Integrated Real Estate Solutions has brokered the sale of a 187,000-square-foot, Class A office building in Troy. The property is located at 840 W. Long Lake Road in the Troy Corporate Center. Situated along I-75 at the corner of Long Lake and Crooks roads, the building is in close proximity to area hotels, restaurants, retail, and is located across from Lifetime Fitness. Barry Swatsenbarg and Rich Deptula of Friedman represented both the undisclosed buyer and seller in the transaction through Auction.com.

October 23, 2014

Office Texas

Henry S. Miller Arranges Lease of Office Property in Dallas

by Haisten Willis October 23, 2014

DALLAS — Henry S. Miller has arranged the lease of a 36,092-square-foot office and warehouse building in Dallas. Dan Spika of Henry S. Miller’s Dallas-Fort Worth office worked on behalf of the tenant, Procraft Cabinetry. Mitch Pruitt represented the landlord, Prologis. The building is located in Prologis Dallas Corporate Center One at 2230 LBJ Freeway.

October 23, 2014

Arizona Office Western

Arizona Priority Care Leases Space at Chandler Corporate Center

by Nellie Day October 23, 2014

CHANDLER, ARIZ. – Arizona Priority Care has leased 24,896 square feet at Chandler Corporate Center. The Class A center is located at 585 North Juniper Drive. The medical care provider was represented by Michael Dupuy and Fletcher Perry of Colliers International. The landlord, Garmin International, was represented by Todd Noel and Ryan Timpani of the same firm.

October 23, 2014

Midwest Office Wisconsin

KW Commercial Midwest Arranges Sale of 18,372 SF Office Property in Hudson, Wis.

by Danielle Everson October 22, 2014

HUDSON, WIS. — KW Commercial Midwest has arranged the sale of an 18,372-square-foot, single-story multi-tenant office/flex center in Hudson. Gateway Business Center is located at 1301 Gateway Circle. The building includes six office suites and a 2,400-square-foot mezzanine office. Tom Baker and Dave Finigan of the Eagan, Minn.-based office of KW Commercial Midwest represented the seller, Eagle Valley Bank, and the buyer, private investors.

October 22, 2014

Florida Office Southeast

NAI Rauch Weaver Norfleet Kurtz Brokers $6.8M Sale of Silver Lakes Professional Campus

by John Nelson October 22, 2014

PEMBROKE PINES, FLA. — NAI Rauch Weaver Norfleet Kurtz & Co. has brokered the $6.8 million sale of Silver Lakes Professional Campus, a 43,380-square-foot mixed-use property in Pembroke Pines. The office/retail asset is located at 17730 Pines Blvd. and 17782 S.W. 2nd St. Bill McConnell and Kenneth Kurtz of NAI Rauch Weaver Norfleet Kurtz, along with C-III Realty Services, represented the seller, LBUBS 2006-C6 Pembroke Campus LLC, a limited liability firm based in Florida. Continental Real Estate Cos. (CREC) represented the buyer, Continental Properties Acquisition Corp., an affiliate of CREC.

October 22, 2014

California Office Western

Airport Business Center in Irvine Receives $158M in Financing

by Nellie Day October 22, 2014

IRVINE, CALIF. – Airport Business Center, a 1.2-million-square-foot office/flex industrial park in Irvine, has received $158 million in financing. The 75-acre campus is located just across Interstate 405 from John Wayne Airport. The funds will refinance an existing loan held by two life insurance companies. This loan carried an outstanding balance at closing of about $154.4 million. The 68-building Airport Business Center has been owned and managed by The Koll Company since it purchased the land and commenced construction in 1969. The park contains 700 units. The five-year, fixed-rate, full-term, interest-only loan was arranged by CBRE Capital Markets’ Debt & Structured Finance team. It was facilitated by CBRE’s Brian Halpern, Ben Wagner, Sharon Kline, Marina Massari and Jason Ritchie. The loan features an all-in interest rate in the low 5 percent range. Koll received interest rate strategy advice from Tim Mitchell and Kris Barber of Chatham Financial’s Denver office.

October 22, 2014

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