Office

DALLAS — CBRE Capital Markets has secured acquisition financing on behalf of CBRE Global Investors for Signature Place, a Class A office property consisting of two buildings totaling 437,363 feet in the Far North Dallas submarket. The multi-tenant office complex is situated on a 10.12-acre site just south of Preston Road and Belt Line Road. CBRE Global Investors, which purchased the property from DRA Advisors, plans to include its complimentary amenity package as part of its improvement program for the buildings. Greg Greene, Matt Ballard and Patrick Benoist of CBRE Capital Markets represented the borrower.

FacebookTwitterLinkedinEmail

WASHINGTON, D.C. — Paramount Group, a real estate investment and management firm based in New York, has purchased the Commercial National Bank Building, located at 700 14th St. N.W. in Washington, D.C.'s East End. The acquisition bring's Paramount's total Washington, D.C., portfolio to more than 1.8 million square feet in six trophy assets. The property is located within one block of the White House. The building was built in 1917 and is listed on the National Register of Historic Places. Eastdil Secured represented the seller, Tishman Speyer, in the transaction. Dan Lauer represented Paramount Group in-house.

FacebookTwitterLinkedinEmail

TAMPA, FLA. — ABILITY Network Inc., a healthcare technology company, has leased 11,720 square feet of office space at One MetroCenter in Tampa's Westshore Business District. One MetroCenter is located in MetWest International, a 32-acre mixed-use development. ABILITY Network will consolidate two Tampa offices totaling 75 employees to its new office space. Angela Odell of Taylor & Mathis and David Green of Jones Lang LaSalle negotiated the transaction. With the deal, One MetroCenter is 92 percent leased.

FacebookTwitterLinkedinEmail

LOCKBOURNE, OHIO — CME Wire and Cable Inc. has signed an 84,616-square-foot lease at CreekSide Parkway, Suite 400 in Lockbourne, located 15 miles south of Columbus. The company outgrew its current building at the CreekSide Industrial Center and will move into the new office and warehouse building, which The Pizzuti Cos. is constructing, in April 2014. CME Wire and Cable is a subsidiary of XIGNUX Group, a 50-year-old firm, with more than 20,000 employees in North and South America and revenues exceeding $3.2 million. The wire distribution company opened its North American headquarters in Georgia in 1998, when it relocated from South Carolina. The company’s other distribution centers are located in California, Illinois and Texas. Cresa represented CME Wire and Cable Inc. in the lease transaction.

FacebookTwitterLinkedinEmail

NEW YORK CITY — RFR Realty LLC has secured three new office leases totaling 11,040 square feet at 17 State Street, a 42-story office tower in Lower Manhattan. Internet consulting and development provider Six Dimensions signed a 4,507-square-foot lease on the fourth floor of the tower, while startup trading firm FDN Enterprises LLC and money manager Granger Management Holdings LLC took 3,270 square feet on the 38th floor and 3,263 square feet on the 32nd floor, respectively. Asking rents at the Class A property are close to $60 per square foot, according to RFR Realty. Designed by Emery Roth & Sons in 1988, 17 State Street features a curved glass facade and 15,000-square-foot boutique floors. Andrew Simon of Colliers International and Peter Wloch of Empire Properties New York represented Six Dimensions in the transaction. Arkady Smolyansky and Ben Friedland of CBRE represented FDN Enterprises LLC. Whitten Morris of Cushman & Wakefield oversaw the lease transaction on behalf of Granger Management Holdings. Steve Morrows, A.J. Camhi and Ryan Silverman represented the ownership in-house.

FacebookTwitterLinkedinEmail

ROXBURY, N.J. — NAI James E. Hanson has arranged the $790,000 sale of an 8,223-square-foot office building at 195 Route 206 South in Roxbury. Joseph Vindigni of NAI James E. Hanson represented the seller, PETEC, and secured the buyer, KCKJ EAST, in the transaction. The space is partially occupied by the sales and administrative offices of Delta Cooling Towers. NAI Hanson has been retained as the leasing agent for the remaining space. Located on 1.4 acres, the two-story building features basement space, alarm and in-ground sprinkler systems, a two-bay garage and 37 parking spaces.

FacebookTwitterLinkedinEmail

HOUSTON — AEW Capital Management, a Boston-based real estate investment firm, has purchased Eldridge Oaks, a 350,000-square foot office building and an adjacent seven-acre lot in Houston’s Energy Corridor. The 14-story, Class A facility was 100 percent leased at time of sale. A second building of similar size is under consideration for the currently empty parcel, but no construction plans have yet been released. The seller is a joint venture that includes Hartford, Conn.-based Cornerstone Real Estate Advisers LLC acting on behalf of an institutional client.

FacebookTwitterLinkedinEmail

LAS VEGAS – A 47,501-square-foot medical and professional office building in Las Vegas has sold to MVP REIT Inc. $15 million. The building is part of a five-property portfolio that was recently acquired by the firm for $48.6 million. The Las Vegas asset is located at 8930 W. Sunset Road. It was built in 2008 and is 90 percent occupied by a mix of medical and professional tenants. Each tenant is bound by a triple-net lease that includes a five- to 10-year remaining term.

FacebookTwitterLinkedinEmail

AZUSA, CALIF. — Xebec Realty Partnershas announced its plans to develop a $33-million, 330,000-square-foot industrial business park in Azusa. The park will be located at 1001 N. Todd Ave. It will be referred to as 10th Street Center. Construction on the Class A office park is set to commence in the fourth quarter of 2013. It is scheduled for completion in the fourth quarter of 2014. Leasing efforts are being handled by Peter McWilliams,Paul SablockandNicole Pageof Jones Lang LaSalle Los Angeles.

FacebookTwitterLinkedinEmail

ST. PETERSBURG, FLA. — A joint venture between affiliates of Feldman Equities, Tower Realty Partners and Second City Capital Partners, has acquired a 17-story, 187,000-square-foot office building in downtown St. Petersburg for $20 million. The Class A office building, formerly known as Wells Fargo Plaza, is located at 150 Second Ave. North. In June, Wells Fargo vacated its 22,000-square-foot office at the property, dropping the building's occupancy to 65 percent. Larry Feldman of Feldman Equities will spearhead leasing and redevelopment efforts at the property, and Tower Realty Partners will handle management responsibilities. Dale Peterson of CBRE's Tampa office arranged the deal. This is the second acquisition in downtown St. Petersburg for the joint venture. About two years ago, the joint venture bought the 242,000-square-foot City Center office building. The property, which was 44 percent occupied at the time of purchase, is now 94 percent occupied.

FacebookTwitterLinkedinEmail