HOUSTON — Moody Rambin has arranged the lease of 5,718 square feet of office space in Houston for Vericlaim Inc., a loss-adjusting and claims management company. The tenant will occupy a portion of the 2500 Wilcrest building, located at 2500 Wilcrest Drive on the city’s west side, in proximity to the Sam Houston Tollway. Griffin Jaggard and Kurt Kistler of Moody Rambin represented the property owner, IC Wilcrest LP, in the negotiations. David Husid of Newmark Grubb Knight Frank represented Vericlaim.
Office
SAN FRANCISCO — CIM Group has acquired a five-story office building in San Francisco’s South Financial District for an undisclosed sum. The building is located at 246 1st Street. This is CIM’s fifth office acquisition in San Francisco.
ATLANTA — Lincoln Property Co. Southeast has arranged two leases totaling more than 22,500 square feet at 1165 Northchase Parkway, an office building in Atlanta’s Galleria/Cumberland submarket. The four-story property is located in the Northchase Office Park development. Hunter Henritze and Jeff Henson of Lincoln Property Co. Southeast represented the landlord, JP Partners, in both transactions. The transactions include Crane Materials International signing a five-year lease for 14,484 square feet and Pinkerton & Laws signing a five-year lease renewal/expansion for a total of 8,093 square feet. Ryan Cone of Cone Middour Partners represented Crane Materials in its lease negotiations, while Gary Waddell of Cushman & Wakefield represented Pinkerton & Laws in its lease renewal/expansion.
SKOKIE, ILL. — Sperry Van Ness Chicago Commercial has completed the sale of Sharp Corner School, which is situated on three acres at 9301 Gross Point Road in Skokie. The 69,300-square-foot property sold for $2.2 million to an undisclosed buyer. Vincent D’Amico and John Hancko of Sperry Van Ness LLC and Louis Fisher of Sperry Van Ness Auctions represented the undisclosed seller in the transaction.
MINNEAPOLIS — Knutson Construction has moved its corporate headquarters to a new space in Minneapolis. The new office is located at 7515 Wayzata Blvd, along I-394. Designed in partnership with Minneapolis-based HDR Architecture, the 25,000-square-foot building features an open floor plan, a 400-square-foot skylight, distinctive conference rooms, a multipurpose room and a 1,300-square-foot outdoor patio. The company formerly leased space at Colonnade Tower.
CUPERTINO, CALIF. – A six-property office portfolio in Silicon Valley has received $200 million in refinancing. Microsoft occupies five of the portfolio’s buildings, for a total of 500,000 square feet. They serve as the firm’s primary Silicon Valley campus. Apple occupies the remaining 211,000-square-foot building in Cupertino. All of the borrowing entities are controlled by Carl Berg, who developed the Microsoft campus in 1999 and the Apple property in 1981. Financing was arranged by Dennis Sidbury of NorthMarq Capital’s San Francisco office. It was provided by Prudential Mortgage Capital Company for a 130-month term.
WASHINGTON, D.C. — Cassidy Turley has arranged $65.5 million in acquisition financing for 1401 New York Avenue, a 210,260-square-foot office building located in Washington, D.C. The building is located a block away from the White House. The property was 40 percent occupied at the time of sale. John Campanella and Paul Spellman of Cassidy Turley arranged the loan on behalf of the borrower, a joint venture between Minshall Stewart Properties and an affiliate of Heitman LLC.
DALLAS — HFF has arranged $73 million in permanent financing for 17Seventeen McKinney, a 369,014-square-foot office property in the Uptown submarket of Dallas. The loan will replace the original construction loan for the property, which was completed in 2010 and is located at the corner of Akard Street and McKinney Avenue. The LEED Gold-certified asset was 95 percent leased at the time of the loan closing, with tenants including Regions Bank, Huitt-Zollars, Red Bull North America, Clarion and American Airlines. 17Seventeen McKinney is connected to and shares amenities such as a fitness center with residential community Park Seventeen. Trey Morsbach and Jim Curtin of HFF arranged the seven-year, fixed-rate loan through Regions Bank on behalf of Granite Properties.
IRVINE, CALIF. – A joint venture between Cigna Corporation and Greenlaw Partners has purchased a 226,055-square-foot, Class A office building in Irvine for an undisclosed sum. The 11-story building is located at 18301 Von Karman Ave. in the Airport Area market. It is part of Koll Center Irvine, and is anchored by Golden State Foods. The buyer was CGGL 18301, LLC. The seller, WW VKO Owner, LLC, was a joint venture between Westbrook Partners, Walton Street Capital and Greenlaw Partners. It was represented by Jeffrey Cole and Ed Hernandez from Cushman & Wakefield’s Irvine office. Cole and Hernandez were also involved in another recent Orange County office sale. The duo, along with Rick Ingwers, Brad Rogers, Roger Gage and Michael McMillan, represented Pacific Bell Telephone Company in the sale of a 191,647-square-foot office property in Anaheim. The Class A building was sold to The PRES Companies for an undisclosed sum. Pacific Bell Telephone Company is a wholly owned subsidiary of AT&T, Inc.
LOS ANGELES – A 36,703-square-foot, Class A office building in Beverly Hills has received $13 million in permanent debt. The building is located at 8201 Beverly Blvd., near Cedars Sinai Medical Center and the Beverly Center. Beverly Quest, LLC purchased the vacant building in October 2012. By the following October, it was fully leased to entertainment media, fashion and medical professionals. The new loan was secured by Quantum Capital Partners, which also secured the initial $11-million loan Beverly Quest used to purchase the building. Beverly Quest is an affiliate of South Park Group.