WILMINGTON, DEL. — Patterson-Woods Commercial Properties/CORFAC International has arranged the sale of a 5,776-square-foot office building and adjacent parking lot in Wilmington. J. Gregory Ellis of Patterson-Woods Commercial Properties represented the seller, Rockford King LLC, in the transaction. The property, located at 1320 N. King St., sold for an undisclosed price. WG&S LLP purchased the office building and is currently occupying it. The company previously occupied a 3,800-square-foot location at 4550 Linden Hill Road. Walnut Street Parking Inc. purchased the parking lot.
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SALT LAKE CITY — KBS Real Estate Investment Trust III has acquired a 426,657-sqare-foot office tower in Salt Lake City’s Central Business District for $170.5 million. The Class A tower is located at 222 Main near the TRAX Main Line light rail system stop. The tower was 85 percent leased at the time of sale. Its largest tenants include Goldman Sachs and Holland & Hart law firm. The structure was built in 2009 and was the first building in Utah to achieve LEED-Gold certification. KBS REIT III also owns the 198,324-square-foot Gateway Tech Center in Salt Lake City.
SAN JOSE, CALIF. — Rio Robles Technology Park, a 460,000-square-foot office and R&D portfolio in San Jose, has received $73.5 million in acquisition financing. The eight-building park is located on Rio Robles not far from San Jose International Airport. It is 70 percent leased to a variety of tech-centric tenants, including Hitachi and F5 Networks. The financing will be used by Brookfield Asset Management to acquire and reposition the property. This will include a significant capital improvement plan that will upgrade the buildings and outdoor areas. The first-mortgage debt was arranged by Rob Rubano and Greg Stampley of Eastdil Secured. It was originated by Jason Bressler of Mesa West Capital.
MINT HILL, N.C. — HFF has arranged $11.5 million in financing for a 57,580-square-foot medical office building at 10545 Blair Road in Mint Hill, about 14 miles east of downtown Charlotte. The property is fully leased to Carolinas HealthCare System. HFF arranged the four-year, floating-rate loan through a national bank on behalf of the borrower, Chicago-based Harrison Street Real Estate Capital LLC.
PALATINE, ILL. — Marcus & Millichap has arranged the $1.1 million sale of Countryside Office Park, a 93,648-square-foot office property located in Palatine, a northwest suburb of Chicago. John Abuja, Rich Merryman and Bill Schofield in Marcus & Millichap’s Chicago offices, marketed the property on behalf of the seller. Countryside Office Park is located at 1210-1278 W. Northwest Highway and is 74 percent occupied. The property includes 465 parking spaces.
SCHAUMBURG, ILL. — Morgan / Harbour Construction has completed an 11,000-square-foot office renovation for Crestron Electronics at 935 National Parkway in Schaumburg, a northwest suburb of Chicago. Crestron Electronics relocated its Midwest regional offices to Schaumburg from Arlington Heights. The build-out includes a new custom-built reception desk, two training rooms, multiple private offices, along with a storefront glass entrance in the reception area. Founded in 1968, Crestron Electronics has offices in 45 countries and offers integrated solutions to control audio, video, computer and environmental systems. Morgan / Harbour’s construction team included Dan Kohlsaat and Jerry Hawkinson. Featherstone Consulting Inc. provided the architectural services.
BRIDGEWATER, N.J. – Global consulting, technology and business process outsourcing company iGATE Technologies has signed a long-term lease to occupy 13,000 square feet at Somerset Corporate Center I. The center is one of five buildings within SJP Properties’ 1.5 million-square-foot, Class A office complex in Bridgewater, located about 28 miles southwest of Newark. The company will use the space as its first New Jersey headquarters, which is slated to open in the second quarter. Ron Volk of CBRE represented iGATE in the transaction. SJP Properties was represented in-house.
MESA, ARIZ. — Mesa Corporate Center, a 106,077-square-foot office building, has sold to Buchanan Street Partners for $13.2 million. The center is located at 1001 W. Southern Ave. in Mesa. It was 89 percent leased at the time of sale. Notable tenants at the center include Allstate Insurance Company, DeVry University and Allied Barton Security. The seller, Parkway Properties, was represented by Chris Toci, Chad Littell, Jerry Noble and Ryan Bartos of Cushman & Wakefield.
WASHINGTON, D.C. — First Market Properties (FMP) has closed on a loan portfolio of five apartment properties in the metro Washington, D.C., area. The REO transaction includes Class B communities totaling 1,188 units. The communities include the 410-unit Forest Village in Suitland, Md.; the 349-unit Shadyside Gardens in Suitland; the 131-unit Marlow Tower in Temple Hills, Md.; the 126-unit Marlow Garden in Temple Hills; and the 172-unit Marlow Heights in Temple Hills.
FAIRFIELD, N.J. — Science Applications International Corp. (SAIC) has renewed its 25,000-square-foot lease at 155 Passaic Ave., an 88,000-square-foot office building in Fairfield. Bergman Real Estate Group and Time Equities Inc. owns the property. Steve Fleming of Jones Lang LaSalle represented SAIC in the transaction.