BOSTON — HFF has arranged $24.6 million in refinancing for 250 Summer Street in Boston’s Seaport district. Originally built in 1903, the eight-story, 104,709-square-foot office building is 100 percent leased to a variety of tenants, including Morrison Mahoney LLP. HFF secured the long-term, fixed-rate loan through Eastern Bank for the borrower, a partnership between Synergy Investments and Independencia Asset Management. Greg LaBine of HFF led the team that represented the borrower.
TEWKSBURY, MASS. — Tritower Financial Group has acquired Ames Pond Corporate Center in Tewksbury, a northern suburb of Boston, for $15 million. The two-building, 154,000-square-foot office property is fully leased. The sellers, Leggat McCall and Dead River Properties, originally purchased the property in 2009 from ASB Capital and completed a series of upgrades to the buildings. David Pergola and Brian Doherty of Cassidy Turley represented the sellers in the transaction.
LOS ANGELES — Universal Music Group (UMG) has leased 146,636 square feet at LNR Warner Center in the Los Angeles submarket of Woodland Hills. The seven-building campus is located at 21301 Burbank Blvd. The 10-year lease is estimated at a reported $46 million. UMG will occupy the top four floors of the five-story building. This is the largest relocation lease by square footage in the San Fernando Valley so far this year, according to CBRE, which represented UMG. The music company plans to consolidate its two existing Woodland Hills offices. The new lease will commence this February. UMG’s Santa Monica offices will not be affected by the relocation. The company was represented by CBRE’s Paul Stockwell, Josh Leibowitz and Jeremy Charles. Hines was represented in-house by Todd Later and Eric Lyon.
CHICAGO — KBS Real Estate Investment Trust III has arranged a total of 71,043 square feet of leases at the 500 West Madison tower in Chicago, which was acquired by the REIT in December 2013. The leases included a lease extension for Lincoln International for a 47,423-square-foot space; a lease expansion for Here North America to occupy 12,214 square feet; a new lease for a 9,925-square-foot space for Inventus; and a 1,481-square-foot lease extension for Alliance Tech Group. Lisa Davidson and Tiffany Winne of Studley represented Lincoln International in its lease; Todd Lippman and James Whalen of CBRE represented Here North America; Jonathan Gordon and Jordan Mellovitz of Cushman & Wakefield represented Inventus; and Jesse Slack of MB Real Estate represented Alliance Tech Group. Michael Lirtzman and Courtney Baratz of Transwestern represented KBS REIT III in the transactions. 500 W. Madison is a 1.46 million-square-foot office tower. The 40-story building consists of office and retail space. The property sits above the Ogilvie Transportation Center, one of two main suburban train stations connecting the Chicago suburbs with downtown, and provides direct access to city trains, buses and expressways. The tower’s first two levels contain nearly 64,000 square-feet of retail space with …
DALLAS — JLL has brokered the sale of Crestview Office Tower, a 12-story, 262,962-square-foot office tower in the Las Colinas submarket of Dallas. The property is located near the DFW International Airport and the Las Colinas Urban Center. CapRidge Partners Fund I purchased the asset from Codina Partners for an undisclosed price. Evan Stone, Jack Crews and Lauren Zimmer of JLL represented Codina Partners in the transaction. Additionally, Jason Piering and Adam Mengacci of JLL arranged a bridge loan for the acquisition.
SAN ANTONIO — CBRE has brokered the sale of University Park Tech Center III and IV, two office buildings totaling 165,007 square feet in San Antonio. The properties are located at 5959 Northwest Parkway and 5800 Farinon Drive. CLPF-IPC III-IV LLC purchased the office assets from BP Westchase LLC for an undisclosed price. Todd Mills, Carrie Caesar and Hunter Mills of CBRE represented the seller in the transaction.
SAN JOSE, CALIF. – Spansion has leased 154,600 square feet within two buildings at Ridder Park Technology Center in North San Jose. The new lease will include 124,592 square feet at 1001 Ridder Park Drive and 30,041 square feet at 1717 Fox Drive. Other notable tenants at the center include Ex’pression Center for New Media and the County of Santa Clara. The landlord, Hines Development, was represented by Steve Horton and Kelly Yoder of Cassidy Turley and CBRE’s Jeff Houston and Sherman Chan. Hines sold the building to Cole Capital earlier this year.
CAMARILLO, CALIF. — Gold Coast Health Plan has leased 33,671 square feet of office space in Camarillo. The property is located at 711 E. Daily Drive in the Ventura County submarket. The public entity, which is governed by the Ventura County Medi-Cal Managed Care Commission, will be relocating from a 16,000-square-foot office in nearby Oxnard. Gold Coast was represented by CBRE’s Michael Slater and Tom Dwyer. The landlord was not named.
LYNNWOOD, WASH. — Radia, Inc., PS has leased 23,000 square feet at Redstone Corporate Center I in the Seattle submarket of Lynnwood. The 202,000-square-foot, Class A office building is located at 19020 33rd Ave. W., across from the Alderwood Mall. The lease will commence this October. The radiology provider was represented by Dan Foster and Cameron Gellatly of Flinn Ferguson. The landlord, PCCP LLC and Talon Private Capital, was represented by JLL’s Daniel Seger and Brent Jackson.
SADDLE BROOK, N.J. — Marcus & Millichap has brokered the sale of the ground lease of Park 80 East for $5.6 million. Located in Saddle Brook, the 75,000-square-foot net-leased office building was purchased by a New York-based exchange buyer for a 6 percent cap rate in an all-cash transaction. Michael Lombardi of Marcus & Millichap’s Net Leased Property Group New Jersey office marketed the property on behalf of the undisclosed seller.
