SAN FRANCISCO — The Obvious Corporation has signed an eight-year lease for 75,000 square feet at 760 Market Street in San Francisco. The corporation was started by Evan Williams, who had previously founded Blogger and Twitter. His newest venture will occupy a three-level space at the office building. The landlord is Thor Equities.
PORTLAND, ORE. — NLD Title has purchased 22 single-tenant office properties that are currently leased to AmeriTitle. The properties are mostly located in Oregon and Idaho. AmeriTitle, which is wholly owned by JELD-WEN, will continue to occupy the buildings under a long-term lease agreement. NLD plans to put some of the properties back on the market. NLD was represented by the Silver Group.
JACKSONVILLE, FLA. — Rosemont Realty has acquired a three-building, 288,147-square-foot Class A office complex called Concourse in Jacksonville from Northwestern Mutual for an undisclosed price. Concourse fronts Interstate 95 on Belfort Road and includes three fourstory office buildings built between 1998 and 2001. It is 88 percent occupied with tenants DeVry University, SJ&P advertising agency, Diversified Clinical Services, Meridian Technologies, Pulte Homes and others.
WILMINGTON, MASS. — EagleBridge Capital has arranged a $4.7 million permanent mortgage loan for 255 and 261 Ballardvale Ave. in Wilmington. 255 Ballardvale Ave. is a 25,000-square-foot office building and 261 Ballardvale is a 60,000-square-foot research and development facility that was fully renovated in 2012. Both buildings are leased to Charles River Laboratories. Ted Sidel and Brian Sheehan of EagleBridge arranged the loan through a financial institution.
HARRISBURG, PA. — Pinnacle Health, a 13,050-square-foot medical office property in Harrisburg, has sold for $4.2 million, or $326 per square foot. The property, located at 2310 Patton Road, was developed as a build-to-suit for Pinnacle Health Systems in 2006. The transaction marked a record-setting sale for suburban office properties in this region, surpassing $325 per square foot at a cap rate of just greater than 7 percent, according to Marcus & Millichap. Benjamin Appel, Jeffrey Algatt, Zachary Pierce and Mark Thomson of Marcus & Millichap represented the seller, a developer, in the transaction. They also secured the buyer, a private investor
DALLAS — Red River Asset Management has purchased the four-story, 239,000-square-foot 12404 Park Central, an office building located in Dallas. Red River purchased the property from Oaktree Capital, and is set to secure a seven-year lease extension with its largest tenant, MEplusYOU. John Beach of Jackson Cooksey represented the tenant in the lease transaction. Red River is partnering with Merriman Associates/Architects to update the building's lobby finishes, 3,000-gallon fresh water aquarium, multiple water features and living plant walls. John Alvarado of Jones Lang LaSalle, now with CBRE, represented the seller in the transaction. Lincoln Property will manage the building and Grant Sumner of Peloton will retain leasing services. Gabriel Silverstein and Louis D'Lando of New York City-based Angelic Real Estate arranged the loan through Texas-based American National Insurance Co., as well as provided acquisition services to Red River.
NORTH RICHLAND HILLS, TEXAS — Silver Oak Commercial Realty has brokered the sale of a 4,067-square-foot office building, located at 8625 Mid-Cities Blvd. in North Richland Hills. Russ Webb of Silver Oak represented the seller, Compass Realty LP, in the transaction. Moore Matthews of KW Commercial represented the buyer, Campo San Antonio Partnership.
SAN FRANCISCO — The Obvious Corporation has signed an eight-year lease for 75,000 square feet at 760 Market Street in San Francisco. The corporation was started by Evan Williams, who had previously founded Blogger and Twitter. His newest venture will occupy a three-level space at the office building. The landlord is Thor Equities.
PORTLAND, ORE. — NLD Title has purchased 22 single-tenant office properties that are currently leased to AmeriTitle. The properties are mostly located in Oregon and Idaho. AmeriTitle, which is wholly owned by JELD-WEN, will continue to occupy the buildings under a long-term lease agreement. NLD plans to put some of the properties back on the market. NLD was represented by the Silver Group.
SAN DIEGO – A 359,218-square-foot, 24-story office building in Downtown San Diego has sold to a joint venture between Lincoln Property Company and Angelo, Gordon & Companyfor $49 million. The high rise is located at 600 B Street. It is 85 percent occupied. Notable tenants include the City of San Diego and Bridgepoint Education, as well as several law firms. This is Lincoln’s first acquisition in the area since it opening a San Diego office this past May.