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.
DALLAS — KBS Realty Advisors has acquired Highland Park Place, a 17-story, 164,011-square-foot office tower in the Preston Center submarket of Dallas for $31.4 million. The Class A building, located at 4514 Cole Ave., was 84 percent occupied at the time of the sale. Gary Carr, John Alvarado and Eric Mackey of CBRE represented the seller, Heitman. Newport Beach, Calif.-based KBS and its affiliated companies now own 13 office properties in the Dallas/Fort Worth Metroplex totaling more than 4.4 million square feet. Earlier this year, two office properties totaling nearly 750,000 square feet in the Preston Center submarket — Preston Commons and Sterling Plaza — were purchased by KBS REIT III.
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, café, and a volleyball and basketball court.American video game publisher Riot Games has recently signed a lease for 284,000 square feet of space at the campus. The project will be developed by Hudson Pacific Properties. The construction loan was provided by U.S. Bank. Hudson was represented by Eric Shelby and Tony Natsis of Allen Matkins in the lease transaction. Riot Games was represented by Jordan Fishman and Rob Plotkowski of Advisors LLP.