Office

BROOKFIELD SECURES $95.5M LOAN FOR WASHINGTON, D.C. PROPERTY

by admin February 7, 2013

WASHINGTON, D.C. — Mesa West Capital has provided Brookfield Real Estate Opportunity Fund I with a $95.5 million first mortgage loan on 64 New York Ave. NE, a 355,000-square-foot office building in Washington, D.C. Built in 1924 as a warehouse, the building was converted into a Class A office building in 2000. The building is 45 percent occupied by the District of Columbia, which recently signed a new long-term lease. The loan proceeds were used to refinance the existing debt as well as provide for capital costs associated with recent upgrades to the property. Raphael Fishbach of Mesa West originated the financing.

February 7, 2013

TOWER POINT AT THE HIGHLANDS IN MARYLAND SELLS FOR $23.7M

by admin February 7, 2013

SPARKS, MD. — An affiliate of Greenfield Partners has acquired Tower Point at the Highlands, a 162,646-square-foot portfolio of two office buildings in Sparks, for $23.7 million. The Class A, campus-style buildings are located at 920 and 930 Ridgebrook Road within a planned business park along the I-83 corridor. The property is 96 percent occupied by tenants such as Fundamental Long Term Care Holdings and MobilexUSA. Christopher Abramson, Brian Kruger and Nicholas Signor of Cushman & Wakefield represented the seller, Equus Capital Partners, in the transaction.

February 7, 2013

Midwest Office

MINNEAPOLIS MIXED-USE OFFICE BUILDING FOR $118M

by admin February 7, 2013

MINNEAPOLIS — Newport Beach, Calif-based KBS Real Estate Investment Trust has acquired RBC Plaza, a 678,045-square-foot office building in downtown Minneapolis for $118 million. RBC Plaza is a 40-story building that includes 609,368 square feet of office space and 68,677 square feet of retail and amenity space above an underground parking structure. At the time of sale, the building was 83 percent occupied. KBS has hired Cushman & Wakefield/NorthMarq to manage and lease the asset.

February 7, 2013

Northeast Office

SILVERMAN GROUP PURCHASES CLASS A OFFICE PROPERTY FOR $16M

by admin February 7, 2013

WESTPORT, CONN. — The Silverman Group has acquired Westport Corporate Office Park, a 120,121-square foot Class A office property, for $16 million. The office complex features two ponds with walking trails and is located in Westport, about 60 miles south of Hartford. Cushman & Wakefield represented the seller, Minneapolis-based Allianz Life Insurance Co. of North America, in the sale to Short Hills, N.J.-based Silverman Group.

February 7, 2013

Office Texas

DUKE REALTY SIGNS FORUM ENERGY TO LEASE IN SAM HOUSTON CROSSING TWO

by admin February 7, 2013

HOUSTON — Duke Realty Corp.'s Houston office has signed Forum Energy Technologies Inc. to a 108,639-square-foot lease in Duke's Sam Houston Crossing Two, a 159,056-square-foot office building in Houston. Sam Houston Crossing is scheduled for a May 2013 completion. Forum has preleased more than 68 percent of the property and will occupy the second and third floors beginning in July. Duke Realty was self-represented by Cory Driskill in the lease transaction. Steve Hesse and Jeff Cairns of CBRE represented Forum.

February 7, 2013

Office Western

THE REFINERY LEASES 19,200 SF IN SHERMAN OAKS

by admin February 7, 2013

LOS ANGELES — The Refinery has leased 19,200 square feet at a 30,662-square-foot office building in the Los Angeles submarket of Sherman Oaks. The advertising agency will occupy two full floors of the three-story building. The firm plans to consolidate and relocate to the space in April. The Refinery was represented by Stacy Vierheilig-Fraser of Charles Dunn Company’s Sherman Oaks office. The landlord, a private family trust, was represented by Scott Silverstein and Tom Specker of Lee & Associates.

February 7, 2013

Office Western

CEREXA EXPANDS, EXTENDS AT 2100 FRANKLIN IN OAKLAND

by admin February 7, 2013

OAKLAND, CALIF. – Cerexa has expanded and extended its lease at 2100 Franklin in Oakland. The biopharmaceutical company has leased an additional 12,000 square feet on the building’s 8th floor. It now occupies the entire 8th and 9th floors of the nine-story tower, which resides within the Lake Merritt district. The building is owned by CIM Group.

February 7, 2013

Office Western

DENVER OFFICE PROPERTY RECEIVES $74M REFINANCE

by admin February 6, 2013

DENVER – A pair of contiguous, Class A office buildings in Denver have received $74 million in refinancing. The buildings are located at 1400 Wewatta and 1401 Wynkoop in the city’s Lower Downtown Denver (LoDo) District. The Wewatta property contains a 202,000-square-foot office building with ground-floor retail. The Wynkoop property contains a 98,000-square-foot office building with ground-floor retail and residential condominiums on the top four floors. The condos were not included in the collateral. The properties are connected by a sky bridge. They also share a parking garage.Notable tenants at the properties include Chipotle Mexican Grill’s world headquarters, Kilpatrick, Townsend & Stockton, LLC, Dorsey & Whitney LLP, Milliman and George K. Baum & Company. HFF’s Eric Tupler, Josh Simon and Jake Young worked on behalf of the borrower, Wewatta and Wynkoop PT LLC, a GE Asset Management and Crestone Partners managed entity. The team secured a permanent loan through a national life insurance company correspondent lender.

February 6, 2013

Midwest Office

GALLERIA OFFICE PARK IN CHAMPAIGN, ILL. SELLS FOR $1.5M

by admin February 6, 2013

CHAMPAIGN, ILL. — Galleria Office Park, a 16,600-square-foot office complex, has sold for $1.5 million to Urbana, Ill.-based Zimmerman & Clark Holdings LLC. The two-story property, which is located at 2506 Galen Drive in Champaign, was built in 2001. Jay Sikorski of locally based Coldwell Banker Commercial Devonshire Realty represented both the buyer and the seller, Mike Thompson of Thompson Land Co., in the deal.

February 6, 2013

Northeast Office

TREETOP DEVELOPMENT LEASES 4,200 SF AT GLENPOINTE CENTRE IN N.J.

by admin February 6, 2013

TEANECK, N.J. — Treetop Development has signed a long-term lease for 4,200 square feet at Glenpointe Centre in Teaneck. Treetop, a real estate company known for renovating and developing value-driven residential properties, will relocate its headquarters to Glenpointe from its present location in Newark, N.J. Glenpointe Center has 650,000 square feet of Class A office space and is located about 15 miles from New York City. Cushman & Wakefield arranged the lease. Yitzi Karasick of the Homer Group represented Treetop in the deal.

February 6, 2013

Newer Posts

Older Posts

Upcoming Events

Jun
25