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

NORTHMARQ ARRANGES $5M LOAN FOR BEEBE BUILDING IN BOSTON

by admin August 14, 2013

BOSTON — NorthMarq has arranged a $5 million first mortgage loan for the refinancing of The Beebe Building, a 41,165-square-foot office building in Boston. The multi-tenant office building includes ground-floor retail. Financing was based on a 10-year term and a 25-year amortization schedule. Joseph Hegenbart, senior vice president and managing director of NorthMarq arranged the financing for the borrower. A life insurance company provided the loan.

August 14, 2013

Office Texas

HENRY S. MILLER COS. TO MOVE TO NEW DALLAS HOME

by admin August 14, 2013

DALLAS — Commercial real estate services provider Henry S. Miller Cos. will move its corporate headquarters to the Stanford Corporate Centre at 14001 Dallas N. Tollway, where the firm will occupy 25,000 square feet on the 11th and 12th floors. The site is less than two miles from the firm’s previous home of 20 years, Providence Towers on Spring Valley Road. Stanford Corporate Centre, built in 1985, will undergo interior improvements before Henry S. Miller Cos. relocates this fall.

August 14, 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

CASSIDY TURLEY BROKERS SALE OF CLASS A OFFICE BUILDING

by admin August 13, 2013

CHARLOTTE, N.C. — Cassidy Turley has arranged the sale of a Class A, 58,445-square-foot office building, located at 4500 Cameron Valley Parkway in Charlotte. The building is fully leased to several tenants, including Merrill Lynch, Grubb Properties, Yadkin Valley Bank and Trust Co., Lincoln National Life Insurance Co. and Scott & Stringfellow LLC. Rob Cochran, David Finger, Addison Montague and Jared Londry of Cassidy Turley represented the seller, a local investment group, in the transaction. The buyer was an affiliate of The Keith Corp.

August 13, 2013

Northeast Office

NONPROFIT RELOCATES 41,000 SF OFFICE TO 120 WALL STREET

by admin August 13, 2013

NEW YORK CITY — Colliers International has arranged a 15-year, 41,000-square-foot corporate relocation on behalf of AFS-USA to 120 Wall St. in New York City. Formerly the American Field Service, AFS-USA is a nonprofit that provides international and intercultural learning experiences to individuals, families, schools and communities through a global volunteer partnership. Founded in 1947, AFS-USA has served more than 400,000 students and young adult professionals around the world. AFS-USA decided to consolidate and relocate its four existing offices in Baltimore; Portland, Ore.; St. Paul, Minn.; and 1 Whitehall Street in Manhattan to 120 Wall St. The organization will occupy the entire fourth floor as well as space on the third floor. AFS-USA is scheduled to move into its new space by the end of this year. Alan Desino, an executive managing director with Colliers International, arranged the lease on behalf of AFS-USA. Roger Silverstein and Joe Artusa, of Silverstein Properties, represented the landlord in the transaction.

August 13, 2013

Midwest Office

ILLINOIS PROPERTY SOLUTIONS SIGNS TWO TENANTS FOR 78,000 SF

by admin August 12, 2013

WILLOWBROOK, ILL. — NAI Hiffman has represented Illinois Property Solutions in two new leases at 500 Joliet Road in Willowbrook, a southwest suburb of Chicago, totaling 78,000 square feet. Environmental Technical Institute (ETI) will occupy approximately 50,000 square feet of office space in the building. ETI offers technical and professional training for persons looking to begin a career in the heating, air conditioning and refrigeration industry. Raths, Raths & Johnson (RRJ), a structural engineering and architectural service provider, will lease 28,000 square feet. Built in 1992, the two-story office building includes warehouse space. With these leases, the building is fully leased. Dan O’Neill and Jim Adler, both executive vice presidents with NAI Hiffman’s office services group, represented Illinois Property Solutions in both transactions. Jeff Janda and Mike Plumb of Lee & Associates represented Environmental Technical Institute. RRJ was represented by Paine/Wetzel.

August 12, 2013

Office Texas

CBRE SECURES FINANCING FOR 437,363 SF OFFICE PURCHASE IN DALLAS

by admin August 12, 2013

DALLAS — CBRE Capital Markets has secured acquisition financing on behalf of CBRE Global Investors for Signature Place, a Class A office property consisting of two buildings totaling 437,363 feet in the Far North Dallas submarket. The multi-tenant office complex is situated on a 10.12-acre site just south of Preston Road and Belt Line Road. CBRE Global Investors, which purchased the property from DRA Advisors, plans to include its complimentary amenity package as part of its improvement program for the buildings. Greg Greene, Matt Ballard and Patrick Benoist of CBRE Capital Markets represented the borrower.

August 12, 2013

Office Southeast

PARAMOUNT GROUP BUYS COMMERCIAL NATIONAL BANK BUILDING

by admin August 9, 2013

WASHINGTON, D.C. — Paramount Group, a real estate investment and management firm based in New York, has purchased the Commercial National Bank Building, located at 700 14th St. N.W. in Washington, D.C.'s East End. The acquisition bring's Paramount's total Washington, D.C., portfolio to more than 1.8 million square feet in six trophy assets. The property is located within one block of the White House. The building was built in 1917 and is listed on the National Register of Historic Places. Eastdil Secured represented the seller, Tishman Speyer, in the transaction. Dan Lauer represented Paramount Group in-house.

August 9, 2013

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