Office

MACK-CALI SELLS LITTLE FERRY PROPERTY FOR $32.3M

by admin May 3, 2013

LITTLE FERRY, N.J. — Mack-Cali Realty Corp. (NYSE: CLI ) has sold its Mack-Cali Airport property located in Little Ferry, about 10 miles west of Manhattan, for $32.3 million. Currently 100 percent leased, the property stands two stories tall and contains 286,628 square feet of commercial space. The flex/office building is located at 200 Riser Road and adjacent to the Terboro Airport. “The sale of this property continues our strategy of recycling our capital out of non-core assets to fuel our diversification into multifamily,” says Mitchell Hersh, president and CEO of Mack-Cali. The seller’s information was undisclosed.

May 3, 2013

PIEDMONT OFFICE REALTY SELLS HOUSTON BUILDING FOR $48.75M

by admin May 3, 2013

HOUSTON — Piedmont Office Realty Trust has sold 1200 Enclave Parkway, a 149,683-square-foot office building in Houston, for $48.75 million, or $326 per square foot. The Griffin Capital Corp. purchased the property on behalf of Griffin Capital Essential Asset REIT Inc. The Class A property is fully leased to Schlumberger Technology Corp., a subsidiary of Schlumberger Limited. Jeff Hollinden and Robert Williamson of HFF, along with Piedmont's Karen Purdy, represented the seller in the transaction. The buyer was self-represented.

May 3, 2013

Office Texas

FROST BANK SIGNS LEASE IN NEW UPTOWN DALLAS OFFICE BUILDING

by admin May 3, 2013

DALLAS — Frost Bank, a Texas-based banking, investments and insurance firm, has signed a lease for 57,558 square feet at 2950 North Harwood, a 168,000-square-foot office building under development in Uptown Dallas. The lease features office space on four floors and a 4,914-square-foot retail bank branch with two drive-thru lanes on the ground floor. The new office will serve as Frost Bank's regional headquarters and will consolidate several Dallas offices and approximately 175 employees. Bob Edge and Mike Gosslee of Cushman & Wakefield of Texas Inc. represented Frost Bank in the lease transaction. The property is slated for November 2014 completion. Harwood International is the building's developer, and Jihane Boury of Harwood is in charge of leasing the remainder of the property.

May 3, 2013

Office Western

GUARANTY BANK BUILDING IN DENVER RECEIVES $62M IN FINANCING

by admin May 2, 2013

DENVER — Guaranty Bank Building, a mid-rise office tower in Denver’s Central Business District, has received $62 million in first-mortgage and mezzanine financing. The 220,287-square-foot building is located at 1331 17th Street. In addition to serving as the headquarters to Guaranty Bank, the building is also home to businesses in the legal and energy sectors. Financing was arranged by Gordon Mickelson and Brock Yaffe of NorthMarq Capital’s Denver regional office.

May 2, 2013

Office Western

SILICON VALLEY OFFICE BUILDING SELLS FOR $40M

by admin May 2, 2013

MOUNTAIN VIEW, CALIF. – A 55,956-square-foot office building in downtown Mountain View has sold to Menlo Equities for $40 million. The Class A building is located at 303 Bryant Street. It is fully leased to Speck Products. The unnamed seller was represented by HFF’s Michael Leggett, Gerry Rohm and Dave Karol in this transaction.

May 2, 2013

Office Southeast

TAMPA ELECTRIC HEADQUARTERS SELLS FOR $22M

by admin May 2, 2013

TAMPA — Benderson Development has purchased the headquarters of Tampa Electric Co. in downtown Tampa for $22 million. The 277,454-square-foot office property comprises an entire city block at 702 N. Franklin St. Tampa Electric has supplied the area with electricity since 1989, servicing approximately 2,000 square miles of West Florida. Camille Renshaw of Stan Johnson Co. represented the seller, a partnership managed by a subsidiary of a multinational financial services company, in the transaction.The property received more than 20 bids from potential buyers, resulting in a sales price with a 5.78 percent cash-on-return to the buyer, according to Stan Johnson Co.

May 2, 2013

Midwest Office

WASHINGTON COUNTY SUBSTANCE ABUSE COUNCIL MOVES TO JACKSON

by admin May 2, 2013

JACKSON, WIS. — The Council on Alcohol and Other Drug Abuse of Washington County Inc. has purchased a 5,464-square-foot office building located at N169 W21005 Meadow Lane in Jackson, about 30 miles north of Milwaukee. RE Investment Properties LLC sold the building at an undisclosed purchase price. In a move from West Bend to Jackson, the organization says the new location has more privacy for its rehabilitation and counseling efforts. David Buckley of Cassidy Turley Barry represented the seller in the transaction. Coldwell Banker represented the buyer.

May 2, 2013

Northeast Office

THE LEFRAK ORGANIZATION SIGNS 11 NEW LEASES

by admin May 2, 2013

JERSEY CITY, N.J. — The LeFrak Organization has arranged 11 new leases at 111 Town Square Place, a 15-story class-A office tower with 500,000 square feet of office, data and co-location space in Jersey City. The recent transactions totaled 51,699 square feet of space and include tenants Fulcrum Worldwide Inc., International SOS Assistance Inc., Constellation Brands Inc., Transcom, IT Cosmetics, Day & Zimmerman, SumRidge Partners, HCC Global, Clinical Mind, Carrier Domain and Park Ave Technologies. Brian Decillis of The LeFrak Organization, in conjunction with the Robert Rudin, Barry Zeller, Ed Duenas and David DeMatteis Cushman & Wakefield, represented the landlord in the transactions.

May 2, 2013

Office Texas

NEW HALL OFFICE PARK BUILDING UNDER CONSTRUCTION

by admin May 2, 2013

FRISCO, TEXAS — Hall Financial Group has broken ground on the 16th office building in the Hall Office Park in Frisco. The new 200,000-square-foot, eight-story office building will be located at 3001 Dallas Parkway. The new site has frontage on the Dallas North Tollway/Dallas Parkway. The new office building is slated for a mid-2014 completion. The building will feature a two-story atrium lobby with high-end finishes and artwork from The Hall Collection. The project team includes designer HKS Inc., general contractor Turner Construction and lender JPMorgan Chase.

May 2, 2013

Office Western

GUARANTY BANK BUILDING IN DENVER RECEIVES $62M IN FINANCING

by admin May 2, 2013

May 2, 2013

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