Office

PM Realty Purchases Eight-Story Office Building in Dallas

by Haisten Willis October 10, 2014

DALLAS — PM Realty Group has purchased One Hanover Park, an eight-story office building located at 16633 North Dallas Pkwy. in Dallas. The 195,894-square-foot property was built in 1998 and includes a three-level parking garage. The Class A office building was 82 percent occupied at the time of sale, with floor plates averaging 25,000 square feet. Eric Mackey, Gary Carr, John Alvarado and Robert Hill of CBRE arranged the transaction on behalf of the seller, a partnership between Cawley Partners and Stockbridge Capital.

October 10, 2014

CT Corp. Renews Lease for 12,765 SF of Office Space in Columbus

by Danielle Everson October 10, 2014

COLUMBUS, OHIO — Cassidy Turley has arranged the lease of 12,765 square feet of office space in Columbus. New York-based CT Corp. has renewed its lease with Equity Office Properties at 4400 Easton Commons, Suite 125. Built in 2005, the office building in northeast Columbus has easy access to Interstate 71, Interstate 270 and Interstate 670. The property is less than a mile from Port Columbus International Airport. Randy Stephens and Brian Douglas represented CT Corp. in the transaction. Tyler Owens and Mark Friedman of Colliers International represented Chicago-based Equity Office Properties.

October 10, 2014

Arizona Office Western

Flex Office Building in Phoenix Sells for $21.6M

by Nellie Day October 10, 2014

PHOENIX – A subsidiary of Griffin Opportunities has acquired a 145,000-square-foot flex-office showroom development in the Phoenix submarket of Deer Valley for $21.6 million. The building is located at 2851 W. Kathleen Road. The 9.5-acre property was developed in 1988 and renovated in 2009. It is fully leased to building technologies company Climatec. The subsidiary was represented by Ben Prater of Colliers International. The seller, Intravest 2851 Kathleen LLC, was represented by Bob Lundstedt and Chris Rogers of Daum. This is Griffin Opportunities’ first investment in Deer Valley. It also represents the largest transaction in the Deer Valley submarket so far this year, according to Daum.

October 10, 2014

California Office Western

Uber Leases Space at Monadnock Building in San Francisco

by Nellie Day October 10, 2014

SAN FRANCISCO — Uber Technologies has leased 77,600 square feet at the Monadnock Building in Downtown San Francisco. The 205,000-square-foot building is located at 685 Market Street. Uber will occupy four floors. The Monadnock Building was originally constructed in 1907. It is situated near Uber’s other San Francisco offices. It also offers employees easy access to the BART and MUNI. The property is within walking distance of Union Square. Uber will occupy this space by the end of the year. The landlord, Brookfield Property Partners, was represented by Chris Roeder, Jak Churton and Tom Doupe of Jones Lang LaSalle.

October 10, 2014

Loans Midwest Missouri Office

National Asset Services Arranges $45M Refinancing for St. Louis Office Property

by Danielle Everson October 9, 2014

ST. LOUIS — National Asset Services (NAS) has arranged a $45 million loan to refinance a 315,000-square-foot office property in St. Louis. NAS led a group of tenant-in-common co-owners in a multi-tiered process, which resulted in a new property ownership structure and favorable refinancing terms. The process involved reorganizing and consolidating the group of 31 tenant-in-common co-owners and an additional 77 investors into a new limited liability company. The newly created company then became the borrower under a new loan provided by an undisclosed lender. The Class A property is located at 8555 University Place. The three-story, single-tenant office building serves as the company headquarters for Express Scripts, a manager of pharmacy benefit plans.

October 9, 2014

Office Texas

Coats Rose Law Firm Expands Into New Houston Location

by Haisten Willis October 9, 2014

HOUSTON — The Coats Rose law firm’s Houston office has moved to 9 Greenway Plaza from 3 Greenway Plaza and will occupy 48,000 total rentable square feet on the building’s 10th and 11th floors. The firm’s Clear Lake area office joined the new, expanded location. Ron McWherter and Paul Penland with CBRE’s Houston office represented Coats Rose, a firm with more than 90 attorneys across the states of Texas and Louisiana, in lease negotiations. April Miller of CBRE’s project management team also worked on the transaction.

October 9, 2014

Loans Massachusetts Northeast Office

CBRE/NE Arranges Acquisition Financing for 28-Story Office Building in Boston

by Amy Works October 9, 2014

BOSTON — CBRE/New England’s Debt & Structured Finance group has secured acquisition financing for 100 High Street, a 28-story office building located in Boston’s Financial District. The 546,336-square-foot property is currently 64 percent leased to a variety of tenants, including technology companies, law firms and insurance companies. The borrower, CBRE Global Investors, plans to upgrade the property’s building systems and add its signature service and amenity program, including conference facilities and outdoor meeting areas. Carlos Febres-Mazzei, Kyle Juszczyszyn, Alex Bradley and Taylor Shepard of CBRE/NE secured the financing through GE Capital Real Estate.

October 9, 2014

Florida Office Southeast

Steelbridge Capital Acquires 190,000 SF Office Park in Naples

by John Nelson October 9, 2014

NAPLES, FLA. — Steelbridge Capital has acquired Pelican Bay Executive Center, a three-building, 190,000-square-foot office complex in Naples. The park is located at Pine Ridge Road and Tamiami Trail. Tenants of Pelican Bay Executive Center include Wells Fargo Bank, Hahn Loeser LLP, Newsbank and Fischer International. The park was 71 percent leased at the time of sale. Michael Lynch of MLPA Realty Inc. represented Steelbridge Capital in the transaction. Christian Lee, Charles Foschini, Christopher Apone and Amy Julian of CBRE arranged acquisition financing for the transaction. CRE Consultants will handle the management and leasing of the office park.

October 9, 2014

Arizona Office Western

SheKnows Leases Space at Element at Kierland in Scottsdale

by Nellie Day October 9, 2014

SCOTTSDALE, ARIZ. – SheKnows has leased 20,000 square feet at Element at Kierland, a 55,268-square-foot office building in Scottsdale. The space is located at 14614 N. Kierland Blvd. The women’s lifestyle media platform will use this space as its corporate headquarters. SheKnows was represented by Clint Hardison of Keyser. The landlord, Montana Avenue Capital Partners, was represented by Luke Walker, Dave Carder and Eric Schultz of CBRE’s Phoenix office.

October 9, 2014

Midwest Missouri Mixed-Use Office

Gailoyd Enterprises Group Sells The Power & Light Building  to NorthPoint

by Danielle Everson October 8, 2014

KANSAS CITY, MO. — Gailoyd Enterprises Group has sold The Power & Light Building to NorthPoint Development for an undisclosed sales price. The historic office tower, located at 106 W. 14th St. in downtown Kansas City, will be converted to a mixed-use development with 200 apartments. The sale included the 285,000-square-foot building and approximately one acre of adjacent land on the north side of the building. The land will be utilized for parking and 70 new apartment units for a total of 270 new units. The building currently is vacant. Riverside, Mo.-based NorthPoint plans to begin construction immediately. Gib Kerr of Cassidy Turley represented Carmel, N.Y.-based Gailoyd Enterprises in the transaction.

October 8, 2014

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