BETHESDA, MD. — Cassidy Turley has arranged $45 million in financing for Bethesda Place II, a 209,397-square-foot, Class A office building in Bethesda. Bethesda Place II’s retail tenant roster includes Safeway, Original Pancake House and Comcast Sports Net, and its office tenant roster includes Wells Fargo, First Potomac Realty Trust and Beech Street Capital. Philip Mudd and Bradley Geiger of Cassidy Turley arranged the 20-year, fixed-rate loan through a life insurance company on behalf of the borrower, Bethesda Place II Associates LLC.
CHARLOTTE, N.C. — Thanks to new tenants, lease renewals and lease expansions, Ally Center in downtown Charlotte’s Third Ward neighborhood is 96 percent leased. The Class A, LEED Gold-certified office building, located at 440 S. Church St., is occupied by tenants such as Ally Financial, HDR Engineering, JELD-WEN Windows and Doors, Driven Brands, Trinity Partners and Trinity Capital Advisors. A joint venture between Trinity Capital Advisors and Principal Real Estate Investors owns Allly Center. Leah Bailey and John Ball of Trinity Partners lease the building on behalf of the ownership.
TUCSON, ARIZ. – A 143,650-square-foot office building in Tucson has sold to W. P. Carey Inc. for $19 million. The firm purchased the Class A building on behalf of CPA:17 – Global, one of its managed REITs. It is located at 3350 E. Hemisphere Loop at the Tucson International Business Center. The building is leased to a single unnamed tenant. Neil Glassmoyer, Tivon Moffitt and Peter Bauman of Colliers International in Greater Phoenix represented both the buyer and the seller, Summit Properties, in this transaction.
PHOENIX — Yeager North has leased 4,000 square feet of office space at The Offices On High Street in Phoenix. The integrated marketing firm is relocating from the nearby Scottsdale Quarter. It will occupy its new space this July. Yeager North was represented by Keith Lammersen and Trevor Pratt of Jones Lang LaSalle. The landlord is a joint venture between ScanlanKemperBard Companies and Wayzata Investment Partners.
CHICAGO — Reed Construction has completed a 20,000-square-foot office build-out for Mondelez International, one of the world’s largest snacks companies. Mondelez will occupy space in the Triangle Plaza building located at 8770 W. Bryn Mawr Ave. in Chicago. Reed Construction completed the demolition of existing space and reconstructed a new layout for Mondelez. The build-out features private offices, open work areas, a training room and conference room. Gastinger Walker Harden + Kincaid Malone provided the architectural services for the project. Mondelez is expanding its operations from its corporate headquarters in Deerfield, Ill. The Mondelez portfolio features nine billion-dollar brands including Cadbury, Nabisco, Oreo cookies, Tang powdered beverages and Trident gum and 52 additional brands.
CHICAGO – J.C. Anderson will complete a 20,000-square-foot office renovation for Ignite USA, an engineering and product strategy company, in Chicago. J.C. Anderson will complete the build-out on the seventh floor of the Central Loop building, which is located at 180 N. LaSalle St. The floor will be renovated to include private offices, conference rooms and open work areas. Construction is scheduled for completion this summer. Jason Hawkins of J.C. Anderson will lead the project construction. BOX Studios is providing architectural services. Christopher Wood and Jordan Decker of DTZ represented property ownership.
PHOENIX — Melcor Development has acquired the Perimeter Parkview Corporate Center and the Chauncey Professional Center for a total of $11.1 million. The 24,154-square-foot Perimeter property is located at 8355 E. Hartford Drive in Scottsdale, while the 35,066-square-foot Chauncey property is located at 6930 E. Chauncey Lane in Phoenix. The buildings sold for $4.1 million and $7 million, respectively. Melcor was represented by Tom Swan of Amcal Southwest. The seller, ViaWest Group, was represented by Barry Gabel and Chris Marchildon of CBRE’s Phoenix office.
HAYWARD, CALIF. — Biolog Inc. has renewed its lease for 27,897 square feet at Britannia Business Park in Hayward. The park is located at 21124 Cabot Blvd. Biolog was represented by Todd Severson and Rick Keely of Colliers International in Oakland. The landlord was represented by WP Investments.
ROCKVILLE, MD. — New Boston Fund Inc. has inked two leases for office space totaling 11,944 square feet at Building III of the Johns Hopkins University Montgomery County Campus in Rockville. Pediatric Nursing Certification Board leased 6,387 square feet and Cato Research leased 5,557 square feet at the property. Danny Sheridan and Morgan Sullivan of JLL represented New Boston Fund in the lease transaction. Andrew Genova of West, Lane & Schlager Realty Advisors represented the Pediatric Nursing Certification Board, and Matt Brady of Scheer Partners Inc. represented Cato Research.
PARSIPANNY, N.J. —Mack-Cali Realty Corp. has completed the disposition of a commercial office property located within Mack-Cali Business Campus in Parsipanny. Griffin Capital Corp. purchased the property for $96.6 million. Buyer Griffin Capital is assuming responsibility for approximately $7 million in tenant improvement allowances and commission obligations. Located at 22 Sylvan Way, the three-story, 249,409-square-foot, Class A office building was developed in 2009 and achieved LEED Silver certification. The property is long-term, net-leased to Wyndham Worldwide Corp. as the company’s headquarters. Jose Cruz and Kevin O’Hearn of HFF represented Mack-Cali in the transaction.