GRAND RAPIDS, MICH. — Cohen Financial has arranged a $10 million loan for 99 Monroe Avenue, a 200,000-square-foot office building, in Grand Rapids. Minneapolis-based Franklin Partners purchased the building last year for $11.8 million. Greystone Financial financed the loan for the 27-year-old building.
GARDEN CITY, N.Y. — A joint venture between The Davis Cos. and Onyx Equities LLC has acquired Atria West, a 250,000-square-foot, Class A office building. Located at 900 Stewart Ave. in Garden City, the six-story site includes a metal panel exterior of reflective glass and a 180-foot-long, 50-foot-high atrium. The purchase price was not disclosed. The Rochlin Organization has been named exclusive leasing agent for the property. Spector Group has been hired as the architect for a renovation that will include remodeling of the atrium lobby, building common areas, outdoor plaza and landscaping.
COSTA MESA, SANTA ANA, CALIF. — Stearns Lending has leased a total of 62,517 square feet in Orange County. The national lending institution leased 41,076 square feet within the MetroCenter at South Coast campus. This space is located at 555 Anton in Costa Mesa. It also leased 21,441 square feet at the Xerox Centre. This facility is located at 1851 E. 1st Street in Santa Ana. Stearns was represented by Jack McNutt of Newmark Grubb Knight Frank. RREEF, the MetroCenter landlord, was represented by Brian Harnetiaux of Transwestern. The Xerox Centre landlord, 1851 East First Street Investors LLC, was represented by Justin Hill and Simon Dillon of CBRE.
PHOENIX — Empire West Title Agency has renewed its lease for 1,685 square feet of space at Foothills Gateway Corporate Center. The Class A center is located at 4505 E. Chandler Blvd. Empire West was represented by Justin Himelstein and Jason France with Cassidy Turley Arizona’s Office Tenant Representation group. The landlord, Orsett/Gateway, LLC, was represented by Lee & Associates.
PHOENIX — Camelback Medical Plaza, a 45,936-square-foot medical office building in Phoenix, has sold to CHP Camelback Medical LLC for $2.8 million. CHP Camelback was formed by Centrum Health Properties. The Class B building was constructed in 1981 at 5040 N. 15th Ave. It was 54 percent leased at the time of sale. The seller was RJ Camelback Medical Plaza Investors LLC. The sale was executed by Eric Wichterman and Mike Coover of Cassidy Turley Arizona and Kathleen Morgan and Julie Johnson of GPE Companies.
SALT LAKE CITY – The Westgate Office Buildings, a 73,695-square-foot campus in Salt Lake City, has sold to an unnamed buyer. The purchase price was not disclosed. The two-building property is located at 300 West in the city’s Downtown district. The seller, Westside Property Associates LP, was represented by Craig Thomas and Eric Gustafson of CBRE’s Salt Lake City office.
ORLANDO AND MAITLAND, FLA. — HFF has arranged a $50 million refinancing loan for three office properties totaling more than 780,000 square feet in Central Florida. The properties include Quorum Center and Oakridge Office Park in Orlando and 850 Trafalgar in Maitland. The borrower was a joint venture between Praedium Group and Tower Realty Partners Inc. Michael Weinberg, Elliott Throne and Chris Drew led the HFF team that arranged the 10-year, fixed-rate loans for Quorum Center and 850 Trafalgar through UBS Real Estate Finance Group. They also arranged the 10-year, fixed-rate loan for Oakridge Office Park through Morgan Stanley.
BALTIMORE, MD. — Cushman & Wakefield has been selected to oversee the property management and project management at 120 East Baltimore St., a 25-story, 327,140-square-foot office building in Baltimore's City Center. The property is the firm's largest managed asset in downtown Baltimore. Franklin Street Properties Corp., the owner and landlord, purchased the property in 2007. T. Courtenay Jenkins, Tim Jackson and Whitney Nye of Cushman & Wakefield will lease the property on behalf of the landlord.
INDIANAPOLIS — CBRE’s Indianapolis Investment Properties Group has completed the sale of Capital Center, a 647,818-square-foot office complex. The complex consists of two Class A office towers in the central business district of Indianapolis. CBRE represented the seller, Invesco Real Estate. The buyer was Santa-Monica, Calif.-based Hertz Investment Group. The purchase price was not disclosed, but according to the Indianapolis Business Journal, the two towers have a net operating income of $4.5 million.
PHOENIX — Camelback Medical Plaza, a 45,936-square-foot medical office building in Phoenix, has sold to CHP Camelback Medical LLC for $2.8 million. CHP Camelback was formed by Centrum Health Properties. The Class B building was constructed in 1981 at 5040 N. 15th Ave. It was 54 percent leased at the time of sale. The seller was RJ Camelback Medical Plaza Investors LLC. The sale was executed by Eric Wichterman and Mike Coover of Cassidy Turley Arizona and Kathleen Morgan and Julie Johnson of GPE Companies.
