SAN DIEGO – A 12,907-square-foot office property in the San Diego submarket of Cardiff-By-The-Sea has sold to a private, local individual for $8 million. It is located at 131 Aberdeen Drive. The building is fully occupied by GoPro. The digital imagingcompany has resided at the building since 2011. It recently signed a new five-year, triple-net lease for the space. The unnamed seller was represented by CBRE’s Paul Lafrenz, Melissa Foster and Chris Pascale.
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IRVING, TEXAS — PCCP LLC has provided an $18.1 million senior loan to Stanton Road Capital and Second City Real Estate for the acquisition and leasing of 3660 Regent, a 158,728-suare-foot Class B office building in the Freeport submarket of Dallas. The private seller had owned the building since 2000. The two-story property is located at 3660 Regent Blvd. in Irving and was developed as a build-to-suit for Ford Motor Credit Co., which remains a major tenant. The property is less than a mile from the LBJ/635 Freeway, which offers access to Highway 114 and Highway 121.
DAVIDSON, N.C. — Childress Klein Properties has commenced construction on Two Harbour Place, a 51,000-square-foot, three-story office/retail project in Davidson, roughly 22 miles north of Charlotte. The property is part of the 50-acre Harbour Place mixed-use development that Childress Klein constructed starting in 2007. Paint company Valspar will relocate its Charlotte office to anchor the property, located at the northwest corner of Griffith and Jetton streets. Valspar’s office space will also include a training center. Childress Klein expects to deliver the property in February 2015. The developer worked with the Lake Norman Regional Economic Development Corp. and the Town of Davidson on the project.
ALPHARETTA, GA. — Fiserv Inc., a financial services technology firm, has selected tvsdesign to design a new lobby and the interiors of two six-story office buildings in Alpharetta. The 375,000-square-foot project will house more than 2,000 Fiserv employees who will be consolidated from several Fiserv offices in metro Atlanta. Completion on the project is slated for 2015. Fiserv chose to locate in Alpharetta because of the city’s reputation as a technology hub, with more than 600 technology companies located within city limits.
CHICAGO — The National Opinion Research Center (NORC) at the University of Chicago has signed a 30,000-square-foot lease expansion at 55 E. Monroe St. in the Windy City. The independent research organization will now occupy 118,000 square feet at the 50-story office tower. Cushman & Wakefield’s Jeff Lindenmeyer and Chris O’Leary represented the tenant in the transaction. Christian Domin, of GlenStar Properties LLC, represented ownership. NORC operates additional offices at the University of Chicago as well as in the Washington D.C. metro area, Atlanta, Boston and San Francisco. NORC collaborates with government agencies, foundations, educational institutions, nonprofit organizations and businesses to provide data and analysis that support informed decision making in key areas including health, education, crime, justice and energy.
PONTIAC, MICH. — Bernard Financial Group has arranged a $1.3 million loan to refinance the Oakland Press Building in Pontiac. The 83,265-square-foot office/flex building features 80 parking spaces and one loading dock. Neil Gorosh of Bernard Financial Group originated the loan for the borrower, Twenty Lake Holdings LLC, with a life insurance company. Twenty Lake Holdings is a full-service commercial real estate asset management firm focused on newspaper properties. The company is an owner of commercial real estate occupied by local newspaper companies and serves as a real estate advisor to national media companies.
SAN DIEGO — Moss Adams LLP has signed a 10-year lease for La Jolla Commons Tower I. The lease is valued at $9.4 million. The tower is located at 4747 Executive Drive in San Diego. The public accounting firm will occupy 18,611 square feet. Moss Adams will occupy its new space in the first quarter of 2015. The firm was represented by Duncan Dodd of Cassidy Turley’s San Diego office. The landlord, HSPF La Jolla Commons I Investors LLC, was represented by Matthew Carlson, Eric Northbrook and Chris High of Cushman & Wakefield.
SAN DIEGO – A 2,263-square-foot medical office building in the San Diego submarket of La Jolla has sold to EHOF La Jolla LLC for $2.2 million. The building is located at 7601 Draper Ave. It is currently occupied by La Jolla Animal Hospital. The hospital has occupied the building since 1975. The buyer plans to raze the building so it can develop a townhome complex on the site. The LLC was represented by Trenton Bonner of Trenton Bonner Coastal Real Estate. The sellers, two private individuals, were represented by CBRE’s Paul Lafrenz, Melissa Foster, Reg Kobzi and Brad Chelf.
NORFOLK, VA. — New York-based Eastern Union Funding has provided $11.4 million in acquisition financing for Town Point Center, a 131,259-square-foot, 12-story office building in Norfolk. The asset was 90 percent leased at the time of the sale to regional and local tenants. Marc Tropp and David Merkin of Eastern Union Funding arranged the five-year loan with a fixed 4.56 percent interest rate through an unnamed Wall Street lender on behalf of the borrower, Cohen Investment Group.
NEW YORK CITY — The College Board has completed the sale of its headquarters building, which is located at 45 Columbus Ave. in New York. Fordham University purchased the nine-story, 65,303-square-foot building for $49.5 million. The buyer plans to use the office space for its administrative offices. The College Board is relocating its headquarters to a 165,000-square-foot space within Brookfield Place at 250 Vesey St. David Lebenstein and Graham Stephens of Cassidy Turley, along with Kirk Diamond and Tim Farley of Cassidy Turley’s Atlanta office, represented the seller, while Joe Morningstar of Hudson Realty Capital represented Fordham University in the transaction.