RESTON, VA. — Transwestern Investment Group (TIG) has acquired Parkridge III, a 107,400-square-foot office building located at 10701 Parkridge Blvd. in the Washington, D.C., suburb of Reston. TIG purchased the asset for an undisclosed price on behalf of Diversified International Partners, a private equity real estate fund for Latin American institutional investors. TIG is the fund manager. The asset was 91 percent leased at the time of sale. Jonathan Napper of TIG worked directly with the seller’s brokers: Eric Berkman and Steve Gichner of Cushman & Wakefield.
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FARMINGTON, CONN. — CBRE has negotiated the sale of 1690 New Britain Avenue, an office building located along Route 6 in Farmington. S&I Realty Associates (AFI Inc.) sold the 165,264-square-foot property to Boston-based Albany Road Real Estate Partners for $20.5 million or $124 per square foot. Originally built in 1961, the office property is currently occupied by Allied World Assurance Co. and Moore Medical and AIG. Patrick Mulready and John McCormick of CBRE/New England’s Hartford office collaborated with Jeff Dunne and Steven Bardsley of CBRE’s Institutional Properties Group to represent both the seller and buyer in the transaction.
MATAWAN, N.J. — Cushman & Wakefield, on behalf of an affiliate of Denholtz Associates, has arranged $20.7 million for the recapitalization of Metro Park South in Matawan. Located at 100 Matawan Road, the five-story, 132,000-square-foot office building offers first-class amenities and a modern interior. The $20.7 million transaction involved securing joint venture equity from Palatine Capital Partners. John Alascio, Chris Moyer, John Spreitzer and Suraj Ravi of Cushman & Wakefield Equity, Debt & Structured Finance served as exclusive advisor to Denholtz Associates.
BOSTON — Boston-based EagleBridge Capital has brokered $6.5 million in permanent mortgage financing for a portfolio of three properties in the Brighton section of Boston. The portfolio comprises the two-story, 15,000-square-foot Brighton Heights located at 167 Corey Road; Three Washington Street, which is leased to Brighton Auto Clinic; and Five Washington Street, which is leased to U.S. 1 Petroleum. Tenants of the Brighton Heights property include medical, medical-related, educational, software and real estate firms. Ted Sidel and Brian Sheehan of EagleBridge arranged the financing, which was provided by a leading regional bank.
BLOOMFIELD, N.J. — Colliers International has arranged a long-term lease for the new headquarters of Reverse Mortgage Investment Inc. in Bloomfield. The company will occupy 16,606 square feet at located at 1455 Broad St. within BroadAcres Office Park. The office park is owned by BR/Prism Central Park Owner LLC and operated by Prism Capital Partners LLC. BroadAcres recently underwent a major capital improvement program to upgrade the campus grounds and lobbies. Amenities at the office park include an on-site café, conference center and outdoor parking. Richard Madison of Colliers International represented Reverse Mortgage in the transaction, while Edwin Cohen provided in-house representation for Prism Capital Partners.
OMAHA — NorthMarq Capital has secured a $1.6 million loan for the refinancing of Alliance Group Office Building, a 24,304-square-foot office building in Omaha. The property is located at 2566 Leavenworth St. Gary Rifkin of NorthMarq Capital’s Omaha regional office structured the 15-year loan with a 15-year amortization schedule. NorthMarq arranged financing for the borrower, 2566 Leavenworth LLC through its relationship with Assurity Life Insurance Co. Alliance Group is the major tenant of the property.
ROSEMONT, ILL. — Morgan / Harbour has completed a 26,000-square-foot office build-out for Resolution Life, a life insurance company, in Rosemont. The new offices are within the Columbia Centre I building located at 5600 N. River Road. The construction features full-floor improvements including new private offices, focus rooms and conference rooms. Morgan / Harbour also designed and engineered all new mechanical, electrical and plumbing systems to optimize the building’s performance. The new space also features a new training room and large open office areas. Morgan / Harbour’s construction team was led by Ben Warriner, Andy MacMillan and Mike Costanzo. INTERFORM provided architectural services for the project.
CARLSBAD, CALIF. — Pacific Ridge Commerce Center, a 52,416-square-foot office and industrial park in Carlsbad, has sold to Sunwood Pacific Ridge LLC for $5.8 million. The center is located at 1945 and 1947 Camino Vida in the Carlsbad Airport Centre. The property will be renamed Sunwood Pacific Ridge. Marc Doyle of Cassidy Turley represented the buyer, which is also a subsidiary of Sunwood Ventures. The seller, Betty Ann Robinson Trust, was represented by Kent Moore of the same firm. Moore and Doyle will also serve as the property’s leasing agents. Property management will be provided by Eugene Burger Management Corporation.
ALBUQUERQUE — Contrast Optical Design and Engineeringhas leased 4,051 square feet at the Uptown Building in Albuquerque. The building is located at 6100 Uptown Blvd. NE. The female-owned small tech business will be located on the fifth floor. Contrast was represented by CBRE’s Marguerite Haverly and Brent Tiano. The landlord, Rosemont Realty, was represented by CBRE’s Terri Dettweiler.
DALLAS — Rochon Family Office has signed a 9,446-square-foot lease with Dallas-based Harwood International. Rochon is moving its headquarters to the penthouse of the Frost Tower, which is scheduled to open in the spring of 2015. Jihane Boury and David Roehm of Harwood International worked on the lease along with Randy Cooper and Charlie Morris of Cassidy Turley and Ryan Mack of Rochon. The company is privately held, with operations in 40 countries.