LOS ANGELES — The Pointe, a 480,400-square-foot office building in Los Angeles, has received $220 million in refinancing. The trophy office building is located in Burbank’s Media District. It is currently 69 percent leased to tenants like Warner Brothers, Outlook Amusements, FreMantle Media, Legendary Pictures, KCET and Fidelity. The financing included $35 million of mezzanine debt, which was placed at closing with Morgan Stanley Real Estate Investing. It was arranged by Jonathan Firestone and J.P. LeVeque of Eastdil Secured and provided by Ronnie Gul of Mesa West Capital. The Pointe is owned by a joint venture between affiliates of Stockbridge Capital Group, Worthe Real Estate Group and M. David Paul & Associates.
LOS ANGELES — Wilshire Robertson Plaza, a 119,421-square-foot office building in Beverly Hills, has received $18 million in refinancing. The plaza is located at 8750 Wilshire Blvd. Notable tenants include Alloy Digital, Mad Old Nut Productions and Radnet Sub, Inc. The loan features a nine-year term and a 25-year amortization schedule. Financing was arranged by Robert R. Hervey of NorthMarq Capital’s Los Angeles office through the firm’s relationship with a correspondent life company.
CHICAGO — A joint venture between Beacon Investment Properties and an investor account advised by UBS Global Asset Management has acquired 20 North Clark, a 35-story office tower in Chicago, for $63 million. The seller was a joint venture between the Multi-Employer Property Trust (MEPT) and Hamilton Partners of Chicago, which was advised by Bentall Kennedy. Located on the northeast corner of Clark and Madison streets in downtown Chicago’s Central Loop, the 393,094-square-foot, Class B+ building, was 83 percent occupied at the time of sale. Susan Hill, senior managing director at HFF, arranged the acquisition financing, a four-year loan totaling 75 percent of the purchase price. General Electric Capital Corp. provided the loan. Paul Lundstedt and Mike Vesper, vice presidents in CBRE’s investment properties institutional group, represented MEPT and Hamilton Partners. Ron Lakin and Rachel Waymire of CBRE’s brokerage services group will serve as the leasing agents for the property.
SOUTHFIELD, MICH. — Colliers International has arranged a 21,886-square-foot office lease at The First Center Southfield Building in Southfield. Brent Beshears of Colliers International represented the tenant, American Axle & Manufacturing (AAM) in this transaction. The First Center Southfield building is located at 26911 Northwestern Highway. AAM is a Detroit-based manufacturer of automobile driveline and drivetrain components and systems.
HADDONFIELD, N.J. — The Walters Group, a residential and commercial real estate developer, has completed construction on its new 8,000-square-foot, Class A office building in Haddonfield. The new facility is located at 21 E. Euclid Ave., about 10 miles east of Philadelphia. Walters Group has relocated its Marlton offices to the new two-story building, taking the entire second floor. The law firm of Del Duca Lewis has also relocated its offices from Cherry Hill to the new location occupying space on the first floor. The Walters Group is the developer of the building and will jointly own and manage the building with Del Duca Lewis. Additional tenant space is available, ranging from 1,200 square feet to 4,000 square feet.
ARLINGTON HEIGHTS, ILL . — AT&T Wireless has signed a lease renewal and expansion for 104,508 square feet of office space at 95 W. Algonquin Road in Arlington Heights, a northwest suburb of Chicago. AT&T moved into the building in the mid 1990s and currently occupies 80,000 square feet for its business solutions support group. The 138,000-square-foot property is now fully leased. Jason Wurtz, Linda Garske and Michael Flynn with NAI Hiffman’s office services group represented the building’s owner, CBRE Global Investors, in the transaction. George Kotrogiannis and Kurt Kittner of Jones Lang LaSalle represented AT&T.
BRISTOL, CONN. — HFF has closed the $42 million sale of 383 Middle Street, a 410,174-square-foot, Class A office building in Bristol. HFF marketed the property on behalf of the seller, Winstanley Enterprises LLC. Inland Real Estate Acquisitions Inc. purchased the property, which is fully leased to a sports entertainment company. Renovated in 2004, the property features a new cafeteria, new building systems and a data center. Jose Cruz, Andrew Scandalios, Kevin O’Hearn, Jeffrey Julien and Steve Simonelli led the HFF investment sales team representing the seller. The property is situated on 36.9 acres in the Southeast Bristol Business Park, about 14 miles southwest of downtown Hartford.
ARLINGTON, TEXAS — A joint venture between 2GR Equity and Dominus Commercial has acquired an 82,000-square-foot office building in Arlington. New ownership plans approximately $700,000 in capital improvements to the five-story property, which is located on Pioneer Parkway about three miles south of AT&T Cowboys Stadium. Dallas-based Dominus will provide leasing and management services for the asset.
BALTIMORE — Cassidy Turley has brokered the sale of a 25-story office tower located at 36 S. Charles St. in Baltimore’s CBD. Los Angeles-based Laurus Corp. purchased the 294,274-square-foot office building from AREA 16B Associates LP. Jonathan Carpenter and James Wellschlager of Cassidy Turley represented the seller in the transaction.
JUPITER, FLA. — CBRE has arranged the sale and financing of the Jupiter Medical and Technology Park, located at 1701 Military Trail in Jupiter. The buyer, Hollywood, Fla.-based POH Jupiter Ownership LLC, purchased the 185,000-square-foot campus for $30.7 million. CBRE arranged $26 million in acquisition financing for the buyer through RAIT Financial Trust, a Philadelphia-based REIT and bridge lender. The seller, Jupiter RE Investments LLC, is the real estate holding company affiliated with Florida Turbine Technologies, which occupies 34 percent of the medical/office campus. Nearly half of the property is occupied by GE Medical Systems, a subsidiary of GE Healthcare. The CBRE professionals involved in the transaction include Scott O’Donnell, Dominic Montazemi, Miguel Alcivar, Christian Lee, Robert Smith, Charles Foschini and Jason Hochman.