Office

COLLEGE FOOTBALL PLAYOFF SELECTS HQ IN IRVING

by admin May 16, 2013

IRVING, TEXAS — Sante Fe, N.M.-based Rosemont Realty LLC has inked a 6,769-square-foot office lease with the newly formed College Football Playoff at The Summit at Las Colinas in Irving. The 19-story, 375,305-square-foot office building is located at 545 E. John Carpenter Freeway in the Las Colinas submarket and is 88 percent occupied. The organization will occupy its new headquarters by Aug. 1. Rosemont Realty was self-represented by Kirby White in the transaction. Peery Wood of Lincoln Property Co. represented the tenant. The staff of College Football Playoff will oversee college football's postseason transition from its current BCS format to a playoff system, which will occur beginning with the 2014-2015 season. The organization will also manage the current BCS program in its 16th and final season of existence.

May 16, 2013

EL SEGUNDO OFFICE COMPLEX SELLS FOR $25M

by admin May 16, 2013

EL SEGUNDO, CALIF. — A 200,000-square-foot office complex in El Segundo has sold to Rockwood Capital and Marshall Property & Development for about $25 million. The three-building complex is located at 2100 E. Grand Ave. It was previously occupied by Rhythm & Hues, an Academy Award-winning visual effects firm that filed for bankruptcy protection in February. That company was acquired last month by an affiliate of Prana Studios through a bankruptcy auction. The complex’s new owners plan to invest up to $20 million to redevelop the six-acre property into a creative office campus. The seller, 2100 Grand, LLC, was a related entity of Rhythm & Hues. The off-market, all-cash sale was arranged by Lucent Capital.

May 16, 2013

Northeast Office

HAMPSHIRE COS. RECEIVES $75M LOAN FOR 175 PARK AVE.

by admin May 15, 2013

MADISON, N.J. — The Hampshire Cos. has received $75 million in financing for 175 Park Ave., a 270,000-square-foot corporate headquarters for the Realogy Corp. in Madison. Cantor Commercial Real Estate Lending LP provided the 10-year, fixed-rate financing. The loan will be used to retire existing construction financing that HFF had secured on behalf of the borrower in late 2011. After completing an extensive rehabilitation of an existing structure, the property was completed in March and is built to LEED standards. Amenities include a fitness center, full-service cafe, and conference/team room facilities. Realogy Corp. is a global provider of real estate and relocation services. Jon Mikula and Michael Klein led the HFF team representing The Hampshire Cos.

May 15, 2013

Northeast Office

PENNSYLVANIA OFFICE BUILDING SELLS FOR $1.5M

by admin May 15, 2013

WEST GOSHEN TOWNSHIP, PA. — A 30,000-square-foot office building, located at 1230 American Blvd. in West Goshen Township, about 35 miles west of Philadelphia, has sold for $1.5 million. Jim Lees of West Chester, Pa.-based Swope Lees Commercial Real Estate LLC represented the buyer, a local private investor, in the transaction. Bob Fox of Fox Commercial Real Estate Services represented the seller, a local private family partnership. The property was most recently the headquarters for American Telecast Products and was formerly occupied by MBB Helicopter as its U.S. headquarters. The buyer is planning extensive renovations to the building to create a Class A office space.

May 15, 2013

Office Texas

PRIMERA COS. COMPLETE CONSTRUCTION OF OFFICE BUILDING

by admin May 15, 2013

PLANO, TEXAS — Primera Cos. Inc. has wrapped up construction of the 51,333-square-foot Headquarters Place, an office project located at 5151 Headquarters Drive in the Legacy Business Park in Plano. The office building features 35 pre-finished office suites, two conference centers and a cafe/lounge. The project is currently 20 percent pre-leased. The construction team includes developer Myers & Crow Co., designer Dupree & Associates and owner Primera Headquarters Partners LLC. Aarica Mims and Trevor Franke of Peloton Real Estate Partners are handling leasing responsibilities for the new building. Legacy Texas Bank extended construction financing for the project.

May 15, 2013

Office Western

MCS INDUSTRIES LEASES 115,000 SF IN RANCHO CUCAMONGA

by admin May 14, 2013

RANCHO CUCAMONGA, CALIF. — MCS Industries has signed a lease for 115,000 square feet in Rancho Cucamonga. The space is located at 11089 Tacoma. MCS also has the option to absorb an additional 100,000 square feet of space. The firm will begin directing inbound ocean freight to the new location this month, and will complete its move by July. It is relocating from a 86,000-square-foot location in Visalia.

May 14, 2013

Office Western

SPECIAL OLYMPICS SOCAL LEASES NEW HEADQUARTERS IN LONG BEACH

by admin May 14, 2013

LONG BEACH, CALIF. — Special Olympics of Southern California (SOSC) has signed a new lease for 12,029 square feet in Long Beach. The office property, located at 1600 Forbes Way, will act as the organization’s headquarters. The unnamed landlord was represented by Doug Wubbena and Randy Matusoff of NAI Capital. They also worked in collaboration with Bill Townsend of Inco Commercial Real Estate to bring SOSC into the space.

May 14, 2013

Office Southeast

ROCK CREEK TRANSFORMS PRIVATE SCHOOL NEAR WHITE HOUSE INTO OFFICE SPACE

by admin May 14, 2013

WASHINGTON, D.C. — Rock Creek Property Group has completed its redevelopment of 1100 16th St. N.W., a 28,366-square-foot property at the corner of 16th and L streets in Washington, D.C. In the past eight months, Rock Creek has transformed the former two-building private school into a four-and-a-half-story office building. The property is located three blocks from the White House and features space for up to 130 employees, exposed brick, multiple entrances, ceilings heights of 10 to 20 feet, garage parking and a 1,700-square-foot rooftop deck with views of the Washington Monument. The property will be offered for sale or lease to a single purchaser or tenant.

May 14, 2013

Northeast Office

MACK-CALI SELLS OFFICE PROPERTY FOR $5.8M

by admin May 14, 2013

CLIFTON, N.J. — Mack-Cali Realty Corp. has sold an office building located at 777 Passaic Ave. in Clifton for $5.8 million to a joint venture comprised of Gottesman Real Estate Partners and Mountain Development Corp. (MDC). The five-story building spans 77,000 square feet and was 65 percent occupied at the time of sale. Woodland Park, N.J.-based MDC manages approximately 1 million square feet of office space in Passaic County and will serve as property manager and leasing agent for the joint venture. TriState Capital Bank provided the first mortgage financing.

May 14, 2013

Office Texas

WESTRIDGE AT LA CANTERA DEVELOPMENT COMING TO SAN ANTONIO

by admin May 14, 2013

SAN ANTONIO — USAA Real Estate Co. and Patrinely Group LLC are developing WestRidge at La Cantera, a four-building office campus in San Antonio. Each of the four Class A office properties will span 128,700 square feet. Construction is slated to begin on the first office building, WestRidge One, in the fourth quarter. The office campus has been designed to achieve LEED Silver certification. Crimson Services LLC, an affiliate of Patrinely Group, will oversee the leasing and property management of WestRidge One. Travis Commercial Real Estate is the local listing broker on the project.

May 14, 2013

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