Office

NYRR BUYS MANHATTAN OFFICE CONDOMINIUM FOR $91M

by admin July 9, 2013

NEW YORK CITY — American Realty Capital New York Recovery REIT Inc. (NYRR) has acquired a three-story office condominium in Manhattan for $90.8 million. Located at 50 Varick St. in the Tribeca neighborhood, the 158,573-square-foot building is fully leased to a subsidiary of Spring Studios Limited. Spring Studios Limited is a London-based provider of creative services to the world's top international fashion, beauty and luxury brands. With the addition of this asset, NYRR owns nearly $800 million in assets, including properties announced for purchase.

July 9, 2013

JLL BROKERS SALE OF ASHFORD PLACE OFFICE PORTFOLIO

by admin July 9, 2013

HOUSTON — Jones Lang LaSalle's Capital Markets has arranged the sale and financing of Ashford Place, a two-building, 143,505-square-foot office portfolio in Houston's Energy Corridor. Insite Realty Partners LP purchased the property from CW Capital Asset Management LLC. The two Class B properties are located at 950 Threadneedle St. and 14800 St. Mary's Lane along Katy Freeway (Interstate 10). The properties are 86 percent leased. Rudy Hubbard, Paul House and Kevin McConn of Jones Lang LaSalle led the team in the deal.

July 9, 2013

Office Texas

CBRE ARRANGES SALE OF ONE OAK PARK IN HOUSTON

by admin July 9, 2013

HOUSTON — CBRE has brokered the sale of One Oak Park, a fully leased, Class A office building located in Houston's Westchase District. The 153,342-square-foot property was constructed in 2009 and is LEED Gold-certified. A four-level parking garage adjoins the six-story office building. Bernard Branca and Jared Chua of CBRE represented the sellers, The Carlyle Group via Carlyle Realty Partners V and Means-Knaus Partners. Clarion Partners, real estate investment manager, purchased One Oak Park.

July 9, 2013

Northeast Office

REIT BUYS DATA CENTER PROPERTY IN METRO NEWARK

by admin July 8, 2013

LEONIA, N.J. — Carter Validus Mission Critical REIT Inc. has acquired the Infocrossing Data Center property in Leonia, a northern suburb of Newark. The 67,000-square foot property is fully leased to Infocrossing Inc., a wholly owned subsidiary of Wipro (NYSE: WID). Server Farm Realty, a national data center developer and operator, collaborated with Carter Validus Mission Critical REIT in its purchase of the property.

July 8, 2013

Office Texas

LIONSTONE GROUP SELLS WATERWAY PLAZA I & II

by admin July 8, 2013

THE WOODLANDS, TEXAS — The Lionstone Group, a national real estate investment firm, has sold Waterway Plaza I and II in The Woodlands to Clarion Partners. The two Class A office buildings are located at 10003 and 10001 Woodloch Forest Drive and total 366,074 square feet. The buildings are 98 percent leased with a single-anchor tenant occupying more than 50 percent of the office space under a long-term lease. Jeff Hollinden, Robert Williamson and Trent Agnew of HFF marketed the property on behalf of Lionstone Cash Flow Real Estate Partners One, a joint venture between Lionstone and a large state pension fund. The properties sold for the highest price per square foot paid to date for suburban office property in the Houston MSA, according to HFF.

July 8, 2013

Office Texas

PARMENTER ACQUIRES 14-STORY OFFICE BUILDING IN DALLAS

by admin July 8, 2013

DALLAS — Miami-based Parmenter Realty Partners has acquired a 14-story, 310,771-square-foot office building in the Central Expressway submarket of Dallas. The property, located at 7557 Rambler Road, is the eighth investment in Parmenter's Fund IV. Parmenter plans to make upgrades to the facility in order to achieve LEED certification. The firm now owns more than 2 million square feet of office space in Dallas.

July 8, 2013

Office Texas

ARMANDO MONTELONGO COS. BUYS NORTHCHASE PLACE

by admin July 8, 2013

HOUSTON — Armando Montelongo Cos. Inc., a commercial real estate investment firm, has purchased Northchase Place, a 75,000-square-foot Class B office building in Houston. The four-story property is located at 13700 Veterans Memorial Drive. Armando Montelongo Cos. purchased the asset for approximately $26 per-square-foot.

July 8, 2013

Office Western

HUDSON PACIFIC PROPERTIES BUYS SEATTLE OFFICE PORTFOLIO FOR $367.5M

by admin July 3, 2013

SEATTLE — Hudson Pacific Properties has acquired a four-building office portfolio in Seattle for $367.5 million. The portfolio contains a total of 836,419 square feet. It includes a two-building, 472,881-square-footwaterfront office property located at 505 First Street & 83 King. This property was originally renovated and developed by Starbucks Coffee Company, though it is now occupied by tenants like Capital One/ING Direct, EMC Corporation and Nuance Communications. The buy also includes Met Park North, a 189,762-square-foot building in South Lake Union that is primarily occupied by Amazon. The final property included in the transaction is Northview Center, a 173,776-square-foot office building in Northend that is leased to tenants like ADP and FEMA. The seller, Spear Street Capital, was represented by the Eastdil Secured group of Wells Fargo Securities, LLC.

July 3, 2013

Office Southeast

FRANKLIN STREET ACQUIRES 999 PEACHTREE FOR $157.9 MILLION

by admin July 3, 2013

ATLANTA — Franklin Street Properties Corp. has acquired a 28-story office building located in Atlanta’s Midtown submarket from Jamestown Properties for $157.9 million. Situated at 999 Peachtreet St., the property was constructed in 1987 and contains approximately 621,000 rentable square feet and a parking garage. Occupancy was 95 percent at the time of closing. Jamestown first purchased the tower in 2007 and since then has made improvements that resulted in the 2009 LEED-EB certification of the building. Jamestown also repositioned the tower’s street-level retail space with tenants that include restaurant Empire State South. Eastdil Secured represented Jamestown in the deal.

July 3, 2013

Midwest Office

MOLINA HEALTHCARE SELLS TWO OFFICE BUILDINGS FOR $158M

by admin July 3, 2013

LONG BEACH, CALIF. AND COLUMBUS, OHIO — Molina Healthcare has sold its headquarters office complex in Long Beach, Calif., and an office building in Columbus, Ohio, for $158 million in a sale-leaseback transaction. The 160,000-square-foot building in Columbus was acquired in December 2012 and serves as the principal health plan operations of Molina Healthcare of Ohio. The Long Beach corporate office complex is approximately 500,000 square feet and was purchased in 2011. Angelo Gordon & Co., AGNL Clinic L.P was the buyer. The McKinney Advisory Group, led by Damian McKinney, represented Molina Healthcare in the transaction. In addition, Western Reserve Partners LLC, led by Victor Faris, managing director, and supported by associate Matthew Reus and analyst Andrew Foster, served as a co-advisor and placement agent to Molina Healthcare.

July 3, 2013

Newer Posts

Older Posts

Upcoming Events

Aug
06