Office

COLLIERS ARRANGES $60M LOAN FOR RECAPITALIZATION OF 200 FOREST ST.

by admin October 16, 2013

MARLBOROUGH, MASS. — Colliers International has arranged $60 million in bridge financing for 200 Forest St., a 527,580-square-foot office building in suburban Boston. The research and development facility is located adjacent to Interstate 495 in the Forest Street Office Park in Marlborough. 200 Forest Street is part of the 109-acre former Hewlett-Packard campus acquired vacant by the Atlantic Management in 2011. Atlantic plans to use the loan to reposition and redevelop the property into a Class A, mixed-used development and pay off the original acquisition financing. Plans for the mixed-use project include the redevelopment of two existing office buildings; 350 units of multifamily housing; a 150-key hotel; and up to 75,000 square feet of retail. A state-of-the art diagnostic lab facility is currently under construction at 200 Forest St. for the property’s first tenant, Quest Diagnostics. Dave Douvadjian, Tom Welch and Brian Gaswirth led the Colliers’ Boston-based capital markets team in the transaction.

October 16, 2013

HISTORIC DOWNTOWN HOUSTON SKYSCRAPER TRADES HANDS

by admin October 16, 2013

HOUSTON — HFF has brokered the sale of 712 Main Street, a 794,186-square-foot office property in Houston’s CBD. Real estate investment firm Lionstone Group has acquired the 37-story Art Deco skyscraper, which was originally constructed in 1929 and today houses the Texas headquarters of JPMorgan Chase’s southwest banking operations, along with 42 other tenants. Brookfield Asset Management Inc. sold the building, which has been designated both a City of Houston landmark and a National Civil Engineering landmark and is listed in the National Register of Historic Places. Dan Miller and Trent Agnew of HFF marketed the property on behalf of Brookfield.

October 16, 2013

Office Western

AEW BUYS CORPORATE HEADQUARTERS BUILDING IN ALISO VIEJO

by admin October 16, 2013

ALISO VIEJO, CALIF. — AEW Capital Management has purchased a 109,948-square-foot, institutional-quality building in Aliso Viejo for an undisclosed sum. The corporate headquarters building is located at 1 Enterprise Drive. The building serves as the corporate headquarters for Microsemi Corporation. It is one of the only single-tenant, Class A buildings to be constructed in the Orange County submarket after 1999. The building is leased to Microsemi through January 2021. The seller, Global Investment Advisor, was represented by CBRE’s Bob Smith, Paul Jones, Kevin Shannon and Ken White.

October 16, 2013

Midwest Office

REED COMPLETES 32,000 SF BUILD-OUT FOR DENTAL ASSOCIATION

by admin October 15, 2013

CHICAGO — Reed Construction has completed a 32,000-square-foot build-out for the Academy of General Dentistry (AGD) in Chicago. AGD purchased the building at 560 W. Lake St. in Chicago’s West Loop and is relocating its headquarters from 211 E. Ave. Reed Construction was selected to complete an interior build-out for AGD on the sixth and seventh floors of the property. The new space features include an open wood beam and column loft space with glass-front, private offices. The office also includes eight conference rooms, four team collaboration areas, a video production area and a design production room. AGD is a professional association of more than 38,000 general dentists providing dental care and oral health education to the public. IA Interior Architects provided the architectural services for the project.

October 15, 2013

Northeast Office

M&M ARRANGES $6.3M SALE OF 38,864 SF OFFICE BUILDING

by admin October 15, 2013

LIVINGSTON, N.J. — Marcus & Millichap has arranged the $6.3 million sale of a 38,864-square-foot office property in Livingston. David Kelso, an associate director at Marcus & Millichap, marketed the property on behalf of the seller and represented the buyer in the transaction. The office building is located at 301 S. Livingston Ave. and is within walking distance to area amenities, including restaurants, dry cleaners and Kings Supermarket.

October 15, 2013

Northeast Office

RAM ACQUIRES 91,476 SF OFFICE/LAB PROPERTY IN CHELMSFORD

by admin October 15, 2013

CHELMSFORD, MASS. — The RAM Cos. has acquired a 91,476-square-foot office/lab property in Chelmsford, located about 30 miles northwest of Boston. The purchase price was undisclosed. Medical device company Arrow Interventional Inc., a wholly owned subsidiary of Teleflex Inc., fully occupies the property. Renovated in 2013, the building is situated on 5.7 acres at 16 Elizabeth Drive.

October 15, 2013

Office Southeast

BLANCA ARRANGES 28,000 SF IN LEASES AT MIAMI’S WATERFORD CENTRE

by admin October 14, 2013

MIAMI — Blanca Commercial Real Estate has completed four new leases for 28,000 square feet at Waterford Centre, a 91,285-square-foot, Class A office building in Miami’s Airport submarket. The office building, owned by New Boston Fund, is located at 6205 Blue Lagoon Drive. The four new tenants include Whirlpool, Remy Cointreau, Franklin Street Real Estate Services and McAfee Inc. Danet Linares and Andres del Corral of Blanca Commercial Real Estate negotiated the four lease transactions on behalf of New Boston Fund. Waterford Centre’s other tenants include Xerox, The Parker Co. LLC, Travel Traders and OMD USA.

October 14, 2013

Office Texas

HFF BROKERS SALE OF TWO HOUSTON OFFICE ASSETS TOTALING 165,146 SF

by admin October 14, 2013

HOUSTON — HFF has brokered the sale of two office buildings totaling 165,146 square feet in Houston’s Energy Corridor. The 102,880-square-foot property located at 1250 Wood Branch Drive was 88.9 percent leased at the time of the transaction, and the 62,002-square-foot property located at 11931 Wickchester Lane was 76.6 percent leased. Both offer convenient access to Interstate 10. Martin Hogan and Dan Miller led the HFF team representing the seller, Peloton Capital Partners. Dornin Investment Group purchased the assets.

October 14, 2013

Office Texas

HOAR CONSTRUCTION COMPLETES 300,000 SF SPEC OFFICE BUILDING IN HOUSTON

by admin October 14, 2013

HOUSTON — Hoar Construction has completed Granite Briarpark Green, a 300,000-square-foot spec office property in Houston’s Westchase district. Developed by Granite Properties, the 12-story, Class A tower features a two-story entry lobby, fitness center and 361,000-square-foot parking facility exclusively for Granite Briarpark Green tenants. PGAL served as architect on the project, which is designed to achieve LEED Gold certification and boasts energy performance 21 percent above current construction sustainability standards.

October 14, 2013

Office Western

FOLSOM STREET OFFICE BUILDING IN SAN FRANCISCO SELLS FOR $110M

by admin October 11, 2013

SAN FRANCISCO – ASB Real Estate Investments has purchased a 187,000-square-foot office building in San Francisco’s South of Market (SOMA) district. The six-story building is located at 795 Folsom Street. The building formerly served as the headquarters for Twitter.It is once again fully leased to tenants like Kabam, AT&T and Regus. Cornerstone Real Estate Advisers LLC purchased the building in July 2011 for $71 million.

October 11, 2013

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