Office

RFR REALTY ARRANGES THREE OFFICES LEASES IN NYC

by admin June 20, 2013

NEW YORK CITY — RFR Realty LLC has arranged a trio of new office leases totaling 39,020 square feet at 757 Third Ave in New York. In the largest transaction, Epiq Bankruptcy Solutions LLC agreed to a 28,036-square-foot lease. Omni Development Inc. and Astoria Federal Savings and Loan Association agreed to 5,700 square feet on the seventh floor and 5,284 square feet on the 19th floor, respectively. Other recent transactions at 757 Third Avenue include 10-year leases with Aerotek Inc. and TEK Systems Inc. Rents at the trophy tower range from the low $50s to the low $60s per- square-foot.

June 20, 2013

SUMMIT PHASE V IN ALISO VIEJO RECEIVES $33.5M IN FINANCING

by admin June 20, 2013

ALISO VIEJO, CALIF. — Summit Phase V, a 250,803-square-foot, Class A office campus in Aliso Viejo, has received $33.5 million in financing. The two-building campus is located at 20 and 30 Enterprise Drive. When completed in 2007, it represented the fifth phase of a 1.6-million-square-foot, master-planned campus that included a corporate hotel, dining and fitness amenities.

June 20, 2013

Office Western

WESTMOOR CENTER NEAR DENVER SELLS FOR $86M

by admin June 19, 2013

DENVER — Westmoor Center, a 612,890-square-foot, Class A office complex, has sold to KBS Strategic Opportunity REITfor $86 million. The six-building complex is located at 10055-10385 Westmoor Drive in the Denver submarket of Westminster. It was 86 percent occupied at the time of sale. Notable tenants include Ball Corporation, Lender Processing Services and Datalogix. Westmoor Center is part of the larger Ten West complex at Westmoor Business Park. With this recent purchase, KBS and affiliates now own six office properties in the Denver area that total more than 1.7 million square feet.

June 19, 2013

Office Southeast

TRINITY CAPITAL ADVISORS ACQUIRES DURHAM OFFICE BUILDING

by admin June 19, 2013

DURHAM, N.C. — Trinity Capital Advisors has acquired a 73,446-square-foot office building located within Meridian Business Park in Durham. Anchor tenants at the property include SRA International and Lockheed Martin Corp. Trinity plans to recapitalize and reposition the asset with the short-term goal of achieving full occupancy. The seller in the deal was Byrd Meridian LLC. The purchase price was not released.

June 19, 2013

Midwest Office

GLENSTAR BUYS CONTINENTAL TOWERS FOR $58.5M

by admin June 19, 2013

ROLLING MEADOWS, ILL. — GlenStar Properties LLC has acquired Continental Towers, a 910,796-square-foot office complex in Rolling Meadows, located about 28 miles northwest of Chicago. Glenstar reportedly purchased the property with Walton Street Capital LLC for $58.5 million. The three-tower office complex was acquired from CW Capital on behalf of the owner, 1701 West Golf Road Holdings LLC. Glenstar plans to invest $8 million in capital improvements, which will include an overhaul of the driveways, entranceways, parking lot and landscaping. Signage, restrooms, tenant corridors and lobbies will also be upgraded. Tenants at the property include Komatsu America Corp., the Lincoln National Life Insurance Co., Advocate Health Partners, Fifth Third Bank and Chicago Title Insurance Co.

June 19, 2013

Northeast Office

ALEXION BREAKS GROUND ON NEW GLOBAL HEADQUARTERS

by admin June 19, 2013

NEW HAVEN, CONN. — Alexion Pharmaceuticals Inc. has broken ground on 100 College Street, a state-of-the-art laboratory and office building that will house the company’s new global headquarters in New Haven’s Downtown Crossing neighborhood. Alexion will be the anchor tenant in 100 College Street, occupying nine floors. The building is expected to be open for occupancy in 2015. Alexion plans to relocate more than 400 employees who are currently based in Connecticut to the new site in 2015. The state-of-the-art, 11-story office building is the first building to be erected as part of New Haven’s Downtown Crossing urban revitalization effort. The building is being constructed to be certifiable of at least LEED Silver.

June 19, 2013

Office Texas

52,000 SF OFFICE BUILDING SELLS IN IRVING

by admin June 19, 2013

IRVING, TEXAS — Texas Irondale Office LLC has purchased a 52,000-square-foot office building, located at 1411 Greenway Drive in Irving. Bob Buell and Louie Weber of Fults Commercial Real Estate represented the seller, and Bob Luttrell of Jackson Cooksey represented the buyer in the transaction.

June 19, 2013

Office Texas

CBRE ARRANGES SALE OF NORTH AUSTIN OFFICE PORTFOLIO

by admin June 19, 2013

AUSTIN, TEXAS — CBRE has negotiated the sale of the Continental Building at 9101 Burnet Road and the Briarcroft Building at 12710 Research Blvd. in Austin for an undisclosed price. The Continental Building is a 58,700-square-foot, Class B office property located in the North Central Austin submarket. The building sits within the boundaries of the City of Austin’s North Burnet/Gateway Master Plan, which includes improvements and rezoning for restaurants, transportation and other mixed-use enhancements. The property was 85 percent occupied at the time of close. The Briarcroft Building is a 63,825-square-foot Class B office property situated in the center of Austin’s technology corridor in the Northwest submarket. The space was 85 percent occupied at the time of close. Walter Saad and Cathy Nabours of CBRE Austin represented the seller, Kennedy Wilson. Luke Wood of Haverwood Management represented the buyer, OakPoint.

June 19, 2013

Office Western

WESTMOOR CENTER NEAR DENVER SELLS FOR $86M

by admin June 19, 2013

DENVER — Westmoor Center, a 612,890-square-foot, Class A office complex, has sold to KBS Strategic Opportunity REIT for $86 million. The six-building complex is located at 10055-10385 Westmoor Drive in the Denver submarket of Westminster. It was 86 percent occupied at the time of sale. Notable tenants include Ball Corporation, Lender Processing Services and Datalogix. Westmoor Center is part of the larger Ten West complex at Westmoor Business Park. With this recent purchase, KBS and affiliates now own six office properties in the Denver area that total more than 1.7 million square feet.

June 19, 2013

Office Western

_OLD FIREHOUSE’ BUILDING IN SANTA BARBARA SELLS FOR $16M

by admin June 18, 2013

SANTA BARBARA, CALIF. – A 6,357-square-foot building that is known as the “Old Firehouse” in Santa Barbara has sold to US 3N LLC for $16 million. It is located at 1486 East Valley Road in the Santa Barbara submarket of Montecito. The building is occupied by Union Bank, which recently acquired Santa Barbara Bank & Trust (SBBT). SBBT held a 20-year master lease on the property that commenced in 2009. Bill Bauman, Kyle Miller and Marc Navarro of Studley’s National Retail Services Group represented both the buyer and the seller, 1486 East Valley Road, in this transaction.

June 18, 2013

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