HOUSTON — MetLife Inc. has arranged and provided a $161.5 million loan for the previously reported acquisition of Houston’s Marathon Oil Tower by CBRE Strategic Partners U.S. Value 6, a fund sponsored by CBRE Global Investors. The property, located at 5555 San Felipe St. in the Galleria submarket, is a Class A office asset totaling 41 stories and 1.2 million square feet. Hanover Real Estate Partners sold the building, which is LEED Silver certified. Clint Culp and John Hall of MetLife Real Estate Investors originated the loan.
MURRAY, UTAH — MIG Real Estate has purchased the Mountain View Corporate Center, an 84,421-square-foot office building in Murray, for an undisclosed sum. The Class A center is located at 756 and 764 East Winchester Street near Downtown Salt Lake City. It is currently 91 percent leased. Notable tenants include Motorola and Liberty Mutual. Though this is MIG’s first acquisition in Greater Salt Lake, it is the firm’s 18th office investment. MIG is focusing on well-located properties with value-add components. The unnamed seller was represented by Cushman & Wakefield/Commerce Real Estate Solutions.
MIAMI — The Hogan Group has arranged a lease for Airbus Americas for 9,000 square feet of office space in Waterford at Blue Lagoon, a Class A, waterfront corporate office park located near Miami International Airport. The office is located in the nine-story 5201 Waterford building. Steve Smith of The Hogan Group represented the landlord, TIAA-CREF, in the lease deal. Catarina Jimenez of Jones Lang LaSalle represented Airbus Americas. With the transaction, Waterford at Blue Lagoon is 93 percent leased.
CHICAGO — Reed Construction has completed a 12,000-square-foot buildout on behalf of the Jacobson Group at Chicago’s Inland Steel Building. Located at 30 W. Monroe, the Inland Steel Building is situated in the Central Loop. Skidmore Owings & Merrill designed the landmark building in 1955. The Jacobson Group, an executive search firm, is relocating its offices to the 19-story property from its previous location at 120 S. LaSalle. Reed Construction was selected to complete the interior renovations for the tenant’s new space on the 15th floor. Renovations feature new open office areas, private offices, conference rooms, a collaboration room and a server room. Michael Davis was the project manager for Reed Construction, and Techno Ltd. provided the architectural services. Robert Sevim of Studley represented the Jacobson Group in the lease transaction. Gary Denenberg and Sara Spicklemire of MB Real Estate represented the building’s ownership.
MANSFIELD, MASS. — Samsonite has signed a 75,218-square-foot, five-year lease at 575 W. St. in Mansfield. The two-story, 169,432-square-foot office building is located in suburban Boston and is part of The Campus at Cabot Business Park, a three-building, 41-acre site. Sean Teague, senior managing director and principal, and Kate McGovern, an associate at Cassidy Turley, represented the landlord, CommonWealth REIT, in the transaction. Tom Kent and Sean Lynch of Jones Lang LaSalle represented Samsonite.
LOS ANGELES — Element L.A., a 12-acre creative office project in West Los Angeles, has received a $65-million construction loan. The $150-million campus will be located at 1861, 1901, 1925 and 1933 South Bundy Drive and 12333 West Olympic Blvd. It will incorporate the five existing buildings on this site, which are all set to undergo renovations. In keeping with the creative office tradition, Element L.A. will feature high ceilings, skylights and large windows, as well as outdoor patios, a bike shop, caf
SAN BERNARDINO, CALIF. – A 35,640-square-foot building that formerly functioned as a big box property in San Bernardino has sold to MTK SoCal Investments, LLC for $4.6 million. The building is located at 1094 South E Street near the Inland Center Mall. It will soon be converted into a facility for the County of San Bernardino. The seller, Holdings Second, LLC, was represented by Marc Pironand Lidia Talaveraof NAI Capital.
WASHINGTON, D.C. — Meridian Capital Group LLC has arranged a $134.3 million mortgage to refinance a 13-story office property in Washington, D.C. The 417,383-square-foot, Class A office property is located at 1615 L St. N.W. Rael Gervis of Meridian Capital Group’s New York office arranged the 10-year CMBS loan with a fixed interest rate of 4.61 percent on behalf of the borrower, Spitzer Enterprises.
NAPERVILLE, ILL. — Beacon Investment Properties LLC has entered the Chicago market with the $24 million acquisition of Park Plaza, a 210,774-square-foot office building in Naperville. A Boston-based institutional real estate advisor sold the Class B+ office building. Park Plaza, located at 215 Shuman St., is a four-story building with 52,450-square-foot floor plates divided into 25,225-square-foot wings. Travelers Insurance Co. anchors the property, while Transguard Insurance Co. and Medical Staffing Network are among the larger tenants. Dan Deuter, senior vice president and Paul Lundstedt, executive vice president at CBRE, represented the seller. Susan Hill, senior managing partner at HFF’s Houston office, arranged an $18 million, 10-year mortgage loan through Cantor Commercial Real Estate of Houston.
MONTPELIER, VT. — The Vermont League of Cities and Towns has signed a 14,000-square-foot office lease at City Center in Montpelier, the capital of Vermont. CityCenter is located at 89 Main St. in downtown. Tenants at the building include the Secretary of State, The New England Culinary Institute, Skinny Pancake, Artisan’s Hand, Edward Jones, AT&T, Vermont Bankers Association and Onion River Community Access. The property also features an on-site parking garage. Doug Nedde is the owner of the City Center Montpelier building and broker/owner of Nedde Real Estate.