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.
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.
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.
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.
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.
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.
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.
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.
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.
SAN BERNARDINO, CALIF. — interchange Business Center, a 667,024-square-foot industrial center in San Bernardino, has sold to one of the U.S.’s largest privately held real estate advisors for an undisclosed sum. The three-building center is located at 1651 Interchange Drive. The seller was a partnership between Behringer Harvard and CT Realty Investors.