SAN ANTONIO — NorthMarq Capital has arranged a refinancing loan of $12 million for The Atrium, a 130,780-square-foot office building in San Antonio. The property, originally constructed in 1982, is located at 85 N.E. Loop 410 and features on-site security, 24-7 access and a conference room. Bryan Leonard of NorthMarq originated the five-year CMBS loan, which includes a 30-year amortization schedule. The borrower has owned the building for approximately 10 years.
HOUSTON — Pipeline Realty plans to develop up to five office/warehouse buildings totaling 90,000 to 130,000 square feet for Houston’s Cottingham Business Park, the company’s first industrial project in a decade. Pipeline recently acquired 12 acres at the intersection of South Sam Houston Parkway and Cottingham Road for the complex. Versa Integrity Group, an industrial inspection and maintenance company, has pre-leased the first building, which is already under construction. Pipeline will maintain management responsibilities after construction, and Mark Nicholas of Jones Lang LaSalle will lease the property.
HOUSTON — Boxer Property has arranged an office lease at the Centre One building in Houston for GetixHealth, a business services provider for the healthcare industry. The new tenant will occupy 21,738 square feet of the building, which totals 11 stories and 225,113 square feet. Features of the property include an on-site deli, multi-level parking garage, security patrol and surveillance cameras. Trey Miller of Boxer negotiated the lease on behalf of the property owner.
SAN FRANCISCO — Prism Skylabs, an offline commerce leader, and Akamai, a cloud service provider, have leased a total of more than 43,000 square feet at 799 Market in San Francisco. Prism signed a five-year lease for 14,749 square feet, while Akamai signed a long-term lease for about 29,000 square feet. Both companies are scheduled to move into the 142,902-square-foot building in November. Prism was represented by Elizabeth Hart of Cornish & Carey Commercial Newmark Knight Frank, while Akamai was represented by David Duble of Cushman & Wakefield. The landlord, Jamestown, was represented by Bill Cumbelich, Daphne Spieker and John Walsh of CAC Group.
NEW YORK CITY — Vornado Realty Trust has agreed to sell 866 United Nations Plaza, a 360,000-square-foot office building in Manhattan, for $200 million. The New York-based real estate investment trust did not disclose the buyer’s information for the 38-story building, which occupies an entire square block between 48th and 49th streets, First Avenue and F.D.R. Drive. However, Crain's New York Business reported the buyer was a venture between real estate investors Meadow Partners and United Realty Partners. Major tenants at the building include the consulates of Chile, Finland, the United Nations Office of Foreign Missions and law firm Fross, Zelnick, Lehrman & Zissu. Vornado says the sale of the building will result in net proceeds of about $146 million, after repaying existing debt and closing costs. The sale is slated for completion by the end of the year.
SAN JOSE, CALIF. — MWest Properties has acquired a three-campus portfolio in Silicon Valley for a reported $200 million. The acquisition includes 12 R&D and corporate office buildings that total 825,000 square feet throughout North San Jose. Notable tenants at the campuses include Boston Scientific, the North American headquarters of Taiwan Semiconductor Manufacturing Company and the corporate headquarters of Tessera. MWest Properties is a joint venture backed by DivcoWest, Ivanho
SAN JOSE, CALIF. — MWest Properties has acquired a three-campus portfolio in Silicon Valley for a reported $200 million. The acquisition includes 12 R&D and corporate office buildings that total 825,000 square feet throughout North San Jose. Notable tenants at the campuses include Boston Scientific, the North American headquarters of Taiwan Semiconductor Manufacturing Company and the corporate headquarters of Tessera. MWest Properties is a joint venture backed by DivcoWest, Ivanhoé Cambridge and TPG Real Estate.
PHOENIX — Buchanan Street Partners has acquired a 10-building portfolio based in Phoenix for $52.6 million. The portfolio includes a mix of office, industrial, office flex and retail properties. The 446,000-square-foot portfolio was acquired in four separate sales transactions. It includes an industrial property in Avondale, as well as three assets within the master-planned Cotton Center in Phoenix. The portfolio was 74 percent leased at the time of the sale. Buchanan represented itself in this transaction, while the unnamed seller was represented by Eastdil Secured.
FORT LAUDERDALE, FLA. — HFF has closed the sale of Pinnacle Corporate Park I & II, two Class A office buildings totaling 262,434 square feet at 500 and 550 W. Cypress Creek Road in Fort Lauderdale. A joint venture between Banyan Street Capital and DRA Advisors purchased the buildings for $38.1 million. The properties are 85 percent leased to tenants such as University of Phoenix, CastlePoint Insurance, Oracle and Fannie Mae. Herman Rodriguez, Ike Ojala and Jorge Portela of HFF represented the seller, Northwestern Mutual, in the transaction.
ADDISON AND WESTMONT, ILL. — NAI Hiffman has represented JSQ Commercial in four separate lease transactions totaling more than 32,000 square feet of office space in suburban Chicago. At Brush Hill Office Courte, located at 740-770 Pasquinelli Drive in Westmont, MacNeal Health Providers Inc. expanded its lease for 15,237 square feet. Mid-American Group, an employee benefits consulting firm, expanded its lease for 6,208 square feet at the property. Cardinal Health also signed a new lease for 4,011 square feet. Brush Hill Office Courte includes four single-story office buildings totaling 112,229 square feet. In Addison, Shimadzu Corp., a manufacturer of scientific instruments, expanded its lease for 6,968 square feet at Centerwest Business Park, located at 2055 West Army Trail Road. The space is located within an 116,583-square-foot flex building directly off the I-355 and Army Trail Road interchange. Dan O’Neill, executive vice president, and Matt Novak, associate with NAI Hiffman’s office services group, represented JSQ Commercial in all four transactions. Tony Karmin of Transwestern represented MacNeal Health Providers; Ellen Steinbrecher of Lee & Associates represented Mid-American Group; and Pete Adamo of CBRE represented Cardinal Health. Vic Sanmiguel of Chicagoland Commercial represented Shimadzu.