MILPITAS, CALIF. — Micron Technology has leased 141,000 square feet of space in three buildings at Tasman Technology Park in Milpitas. The park is located at 540, 570 and 596 Alder. The advanced semiconductor systems and engineering technology provider will be relocating from North San Jose and Fremont. The landlord, Duetsche Asset & Wealth Management, was represented by Gregory M. Davies, Steve Horton and Colin Feichtmeier of Cassidy Turley in Northern California.
Office
PHILADELPHIA — Liberty Property Trust and Synterra Partners are breaking ground for the development of a Class A, flex building at the Navy Yard Commerce Center in Philadelphia. Located at 4000 S. 26th St., the 75,000-square-foot building is slated for completion in December. The building is 100 pre-leased to a variety of tenants, including Australia-based EcoSave, United Kingdom-based Clinigen and WuXi AppTec Inc.
NEW YORK CITY — SL Green Realty Corp. plans to acquire the fee interest at 635 Madison Ave. in New York. The $145 million, off-market transaction, which is subject to customary closing conditions, is expected to be completed during the third quarter of 2014. Designed by Emery Roth & Sons, the 19-story, 176,530-square-foot office tower is occupied by office and medical tenants, including Raymond Weil, Baccarat, Molton Brown and Camper. A ground lease through April 2030 with one 21-year renewal extension option encumbers the property.
NEW YORK CITY — Datagram has signed a lease for 5,200 square feet of conventional office space at Intergrate.Manhattan, which is located at 375 Pearl St. in Manhattan. The 1 million-square-foot facility is owned by Seattle-based Sabey Data Center Properties. Datagram plans to relocate its entire executive team, sales force and its network operations center to the new space from 33 Whitehall St. in Lower Manhattan in July. The company specializes in dedicated and managed hosting, colocation, Internet access and disaster recovery. Michael Morris of Newmark Grubb Knight Frank represented the landlord in the lease transaction.
SUGAR LAND, TEXAS — Stockdale Capital Partners has acquired Sugar Creek I and II, a 409,168-square-foot office complex in the Houston suburb of Sugar Land. The property was 96.1 percent leased at the time of the sale by tenants including Noble Drilling Corp. and United Healthcare. On-site amenities include a fitness center, deli and conference rooms. Rusty Tamblyn and Trent Agnew of HFF represented the sellers, Granite Properties and MetLife. Jeremy Womack of HFF arranged acquisition financing.
DENVER — Hudson’s Bay Centre, a 172,912-square-foot boutique office building in Denver, has received $21.2 million in acquisition financing. The Class A office building was acquired by a joint venture between MDC Realty Advisors USA and Artis REIT. The property is located at 1600 Stout Street in the Midtown East section of the Central Business District. It sits adjacent to the 16th Street Mall Shuttle and Stout Station RTD light rail station. The transit-oriented property is currently 96.4 percent leased. The seven-year loan features a fixed interest rate of 3.76 percent. It was secured by HFF’s Josh Simon and Leon McBroom. The loan was placed with Principal Real Estate Investors.
ROCK HILL, S.C. — Angelic Real Estate and Red Rock Development have closed the sale-leaseback financing of a 105,000-square-foot headquarters and lab building in Rock Hill, part of the greater Charlotte, N.C., area. The financing amount was roughly $24.4 million. Red Rock developed the property on behalf of the tenant, Physicians Choice Laboratory Services (PCLS). The facility serves as PCLS' headquarters and primary testing facility. BlackArch Partners also provided financial advisory services to PCLS in the transaction. Red Rock Development and Angelic Real Estate have a strategic partnership for the financing and capitalization of commercial properties.
CHARLOTTE, N.C. — NorthMarq Capital has arranged approximately $2.9 million to refinance Mallard Professional Center, a 31,500-square-foot office building in Charlotte. Kevin Jenkins of NorthMarq's Charlotte office arranged the five-year loan with a 20-year amortization schedule through an unnamed credit union.
ROSEMONT, ILL. — Bradford Allen Realty Services has arranged the lease of an 8,807-square-foot office space in Rosemont. VHT Inc., a full service provider of visual marketing services designed for the real estate industry, will occupy space at 6400 Shafer Court. The firm is relocating from its offices also located in Rosemont. Joel Berger and C.J. Ricardi of Bradford Allen Realty Services represented VHT. Zachary Fox of Transwestern represented the landlord, Crossroads Development, in the transaction.
PORTLAND, ORE. – A pair of Class A office buildings in Portland has sold to joint venture Woodside Palisades Partners for an undisclosed sum. The buildings, Cascade Station I and II, are located in the Cascade Station mixed-use development. They contain a total of 127,000 square feet. Woodside Palisades Partners is a joint venture between Joaquin Charles de Monet of Palisades Capital Realty Advisors and two Silicon Valley investors. The unnamed sellers were represented by CBRE’s Kevin Shannon.