Office

USPS SIGNS 8,400 SF LEASE AT 333 E. 14TH ST. IN MANHATTAN

by admin November 18, 2013

NEW YORK CITY — The United States Postal Service has signed an 8,440-square-foot lease at 333 E.14th St. in Manhattan. The branch inked the 10-year sublease for the space, which is located at the base of a residential building on 14th Street and First Avenue. The post office will occupy 6,940 square feet on the ground floor and 1,500 square feet of basement. The post office is relocating from a bigger space at 432 E. 14th St. The Feil Organization holds a long-term ground lease for the retail space. Duane Reade previously occupied the space, which offers 100 feet of frontage on 14th Street. The drugstore chain then moved to a larger location at nearby 245 First Ave. in January. The new post office branch is currently under construction and is slated for completion in the second quarter of 2014.

November 18, 2013

MIG BUYS MOUNTAIN VIEW CORPORATE CENTER IN MURRAY

by admin November 15, 2013

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.

November 15, 2013

Office Texas

METLIFE PROVIDES $161.5M ACQUISITION LOAN FOR HOUSTON’S MARATHON OIL TOWER

by admin November 15, 2013

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.

November 15, 2013

Office Western

MIG BUYS MOUNTAIN VIEW CORPORATE CENTER IN MURRAY

by admin November 15, 2013

November 15, 2013

Office Southeast

HOGAN GROUP BROKERS AIRBUS LEASE IN MIAMI WATERFRONT OFFICE PARK

by admin November 14, 2013

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.

November 14, 2013

Midwest Office

REED COMPLETES INTERIOR BUILD-OUT AT INLAND STEEL BUILDING

by admin November 14, 2013

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.

November 14, 2013

Northeast Office

CASSIDY TURLEY ARRANGES 75,218 SF LEASE IN MANSFIELD

by admin November 14, 2013

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.

November 14, 2013

Office Western

CREATIVE OFFICE PROJECT ELEMENT L.A. RECEIVES $65M CONSTRUCTION LOAN

by admin November 13, 2013

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

November 13, 2013

Office Western

FORMER BIG BOX PROPERTY SELLS FOR $4.6M IN SAN BERNARDINO

by admin November 13, 2013

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.

November 13, 2013

Office Southeast

MERIDIAN ARRANGES $134.3M LOAN FOR D.C. OFFICE BUILDING

by admin November 13, 2013

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.

November 13, 2013

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