Office

CHILDCARE PROVIDER SIGNS 15-YEAR LEASE IN CHICAGO

by admin August 16, 2013

CHICAGO — Children’s Learning Place has signed a 12,260-square-foot lease for first-floor space at 3532 N. Halsted St. in Chicago. The 15-year lease is valued at more than $4.8 million, according to Jameson Commercial LLC, which represented the landlord in the lease transaction. Children’s Learning Place provides early childhood and preschool education for families in its existing locations in Wicker Park, Logan Square and downtown Chicago. This new Lakeview facility, which is slated to open in mid-2014 after a planned remodeling project estimated at more than $1.5 million, will accommodate approximately 140 children. Noah O’Neill of RN Realty represented Children’s Learning Place. Chris Irwin, senior vice president of retail sales & leasing at Jameson Commercial represented the landlord.

August 16, 2013

WATER TOWER REALTY SECURES FOUR NEW LEASES IN CHICAGO

by admin August 16, 2013

CHICAGO — Water Tower Realty Management has secured four leases at two of its commercial properties in Chicago. Three of the four leases are for office space at 415 N. LaSalle St., a 68,000-square-foot loft building in Chicago’s River North neighborhood. Larry Cohn, senior broker, and Lindsay Guhl, broker at @properties Commercial arranged the leases for Water Tower Realty. 1060 Capital Management LLC, an investment management firm, signed a three-year lease for 1,475 square feet of space in the building. David Burkards, senior vice president for MB Real Estate, represented the tenant in the transaction. Bialow Real Estate LLC, a full-service real estate consulting firm, also signed a three-year lease for 1,475 square feet of space. Cohn was the sole broker in the transaction. Hartland Mortgage Centers, a mortgage company with locations throughout the U.S., opened its new Chicago office in the building after signing a three-year lease for 1,400 square feet of space. Cohn was also the sole broker in the transaction. Whitney Abrams Jewelry Inc. signed a three-year lease for 840 square feet of retail space at 1 E. Superior St., in Chicago’s River North neighborhood. The custom jewelry designer moved from its previous location at 9 E. …

August 16, 2013

Office Texas

CBRE SECURES $8M IN FINANCING FOR IRVING OFFICE BUILDING

by admin August 16, 2013

IRVING, TEXAS — The Debt and Equity Finance Group of CBRE Capital Markets has secured $8 million in financing for 1212 Corporate Drive in Irving, a multi-tenant office asset of Libitzky Holdings LP. The 124,128 square-foot property, located in the Las Colinas neighborhood, was built in 1982 and renovated in 2008 and 2009. Libitzky has owned the building since 2011. Greg Greene, Matt Ballard and Patrick Benoist of CBRE’s Dallas office arranged the terms of the 10-year, fixed-rate loan.

August 16, 2013

Office Western

LOS ANGELES OFFICE BUILDING SELLS FOR $2M

by admin August 15, 2013

LOS ANGELES – A 14,655-square-foot office building in Los Angeles has sold to Park View Dream LLC for $2 million. It is located at 2351 West 3rd Street. The buyer plans to relocate its real estate investment and management business to the building. It will lease out the remaining space. The seller, Building Industry Credit Association, was represented by David Fults and Brian McLoughlin of Voit Real Estate Services’ Los Angeles office.

August 15, 2013

Office Texas

HOUSTON’S TOWN CENTRE ONE TO BREAK GROUND IN SEPTEMBER

by admin August 15, 2013

HOUSTON — Developer Moody Rambin plans to break ground this September on Town Centre One, a 270,000-square-foot office building in Houston’s Town & Country Village development. Designed by Kirksey Architecture, the complex will also include a second office building of 100,000 square feet known as Town Centre Two, an eight-level parking garage and a 20,000-square-foot community theater. The location just east of Houston’s Energy Corridor will provide both views of downtown and pedestrian access from the adjacent CityCentre mixed-use development. The projected construction completion date is December 2014.

August 15, 2013

Office Western

LOS ANGELES OFFICE BUILDING SELLS FOR $2M

by admin August 15, 2013

August 15, 2013

Office Western

SACRAMENTO OFFICE BUILDING SELLS FOR $29.4M

by admin August 14, 2013

SACRAMENTO, CALIF. – A 170,000-square-foot office building in downtown Sacramento has sold to an institutional investor for $29.4 million. The acquisition was made as an investment through a separate account managed by CenterSquare Investment Management, the real estate manager for BNY Mellon. The Class A building is located at 770 L Street. The seller was 770 L Street Investment Group Inc.

August 14, 2013

Office Western

SOUTH TEMPLE TOWER IN SALT LAKE CITY CHANGES HANDS

by admin August 14, 2013

SALT LAKE CITY — South Temple Tower, a 216,976-square-foot, high-rise tower in Salt Lake City, has sold to Maier Siebel Baber (MSB) for an undisclosed sum. The tower is located at 136 East South Temple in the city’s Central Business District. MSB plans to retrofit, renovate and refurbish the office building. These improvements will be carried out by Architecture Design. The seller was represented by Craig Thomas, Eric Gustafson and Eric Smith of CBRE’s Salt Lake City office. CBRE will continue to manage and lease the asset.

August 14, 2013

Office Southeast

CPA FIRM JOINS OFFICE BUILDING UNDER RENOVATION IN DOWNTOWN BALTIMORE

by admin August 14, 2013

BALTIMORE — Ellin & Tucker, a CPA firm, has signed a 31,000-square-foot lease for office space at 400 E. Pratt St. in downtown Baltimore. The company is moving its Baltimore headquarters from 100 S. Charles St. into the 11-story office tower, which is undergoing renovations. The updates include a two-story, 24,000-square-foot addition and updates to the common corridors, lobbies, elevators and restrooms. Construction on the addition is underway. The addition is part of an open-space plan developed by the Downtown Partnership of Baltimore and supported by Baltimore City and the Baltimore Development Corp. to rejuvenate the downtown area and improve the north side of Pratt Street. The design team includes Peter Fillat Architects and construction manager Constantine Commercial Construction Inc. Ellin & Tucker's new office space will span the entire second floor and 7,000 square feet on the third floor, including a balcony above the new addition. The lease includes signage in the lobby and on the exterior southwest side on the second floor. Courtenay Jenkins of Cushman & Wakefield represented Ellin & Tucker and Whitney Nye represented the owner, PDL Pratt Associates LLC.

August 14, 2013

Midwest Office

DENHOLTZ RECEIVES $29M FOR FIVE-PROPERTY PORTFOLIO

by admin August 14, 2013

CHICAGO — Denholtz Associates has received a $29 million loan for the refinancing of a five-property office and industrial portfolio located in Illinois and Florida. The portfolio, which totals 649,586 square feet, features four assets in suburban Chicago and 7129 University Blvd. in Winter Park, Fla. The Illinois properties include 1050-1138 Tower Lane in Bosenville; 747 N. Church Road in Elmhurst; 2625 Butterfield Road in Oak Brook; and 625-701 Executive Drive in Willowbrook. The portfolio is 84 percent leased to 117 different tenants and includes 56 percent office, 30 percent flex and 13 percent warehouse/industrial space. Natixis Real Estate Capital Inc. provided the five-year loan. Proceeds from the loan were used to repay an existing mortgage. Jon Mikula, senior managing director, and Michael Klein, director, of HFF represented Denholtz Associates in the transaction.

August 14, 2013

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