PHOENIX — Hensley & Company has completed a sale-leaseback on its three refrigerated warehouse and distribution facilities in Arizona. The disposition was completed for $76 million. The facilities contain a total of 577,167 square feet. They are located at 4201 N. 45th Ave. in Phoenix; 2555 N. Nevada Street in Chandler; and 10201 E. Valley Road in Prescott Valley. Hensley & Co. will occupy all three properties, which were purchased by Angelo, Gordon & Co.’s net lease division. Hensley was represented by Chris Toci, Chad Littell and Jim Wilson of Cushman & Wakefield of Arizona in this sale-leaseback transaction.
DETROIT — 440 Congress LLC has purchased an 85,539-square-foot office building, located at 440 E. Congress St., in Detroit. The purchase price was undisclosed, but the listing price was $1.9 million. Bruce Morrison and Steve Gordon of Signature Associates represented the seller, 400 East Congress Partnership. Morrison also represented the buyer.
SAN ANTONIO — NorthMarq Capital has secured a $39 million bridge loan for the 16-property Brass Professional Center, a 759,341-square-foot office campus in San Antonio. Major tenants at Brass include Aetna, MCNA, Santa Rosa, Harris Connect and QTC. Bryan Leonard of NorthMarq's San Antonio office and William Luedemann of NorthMarq's Houston office arranged the loan through a life insurance company lender.
SEATTLE — Westlake Terry, a 320,399-square-foot, Class A office property in Seattle’s South Lake Union neighborhood, has sold to Kilroy Realty Corporation for $170 million. The two-building property is located at 320 Westlake Ave. North and 321 Terry Ave. North. It is fully occupied by tenants like Group Health Cooperative and Microsoft Corporation. Kilroy was represented by attorneys Peter Roth, Patrick Perry, Michael Cerrina, Julie Hoffman, Hadar Goldstein, Cheryl Prell of Allen Matkins Leck Gamble & Natsis. The seller, Vulcan Realty, was represented by attorney Joe Delaney at Foster Pepper PLLC. Jones Lang LaSalle acted as Vulcan’s broker.
PHOENIX — Hensley & Company has completed a sale-leaseback on its three refrigerated warehouse and distribution facilities in Arizona. The disposition was completed for $76 million. The facilities contain a total of 577,167 square feet. They are located at 4201 N. 45th Ave. in Phoenix; 2555 N. Nevada Street in Chandler; and 10201 E. Valley Road in Prescott Valley. Hensley & Co. will occupy all three properties, which were purchased by Angelo, Gordon & Co.’s net lease division. Hensley was represented by Chris Toci, Chad Littell and Jim Wilson of Cushman & Wakefield of Arizona in this sale-leaseback transaction.
BELLEVUE, WASH. — The Rockefeller Group and Sterling Realty Organization (SRO) plan to develop a 2.4-million-square-foot project on a 5.46-acre site in Downtown Bellevue. The site is owned by SRO. The agreement will allow the partners to develop five adjacent parcels over a phased period of time. The initial plans will include three office towers situated above a podium that will include retail shops and public areas.
GREENWICH, CONN. — Win Properties has secured a $19.1 million acquisition loan for a 32,000-square-foot office property in Greenwich. The 10-year, fixed rate loan was used to acquire the property in a sale-leaseback transaction. Located one mile north of I-95, the property is fully leased to an institutional equity trading corporation. HFF arranged the loan through Cantor Commercial Real Estate.
AUSTIN, TEXAS — Transwestern has brokered the sale of the 123,513-square-foot Travis Oaks at Southwest Parkway, a Class A office property located at 5113 Southwest Parkway in southwest Austin. The three-story property is 93 percent leased. Hale Umstattd, Leah Gallagher, Mike Hardage and Steve Simon of Transwestern represented the seller, TR Travis Oaks Corp., in the transaction. The buyer was Cornerstone Real Estate Advisors.
BELLEVUE, WASH. — The Rockefeller Group and Sterling Realty Organization (SRO) plan to develop a 2.4-million-square-foot project on a 5.46-acre site in Downtown Bellevue. The site is owned by SRO. The agreement will allow the partners to develop five adjacent parcels over a phased period of time. The initial plans will include three office towers situated above a podium that will include retail shops and public areas.
BULLHEAD CITY, ARIZ. – A five-building medical office campus is set to break ground within Bullhead City’s master-planned community of Fox Creek. The five-acre project will contain five buildings, each consisting of 7,500 square feet. A $17-million assisted living facility is scheduled to be built adjacent to the campus. The 95,300-square-foot facility, named Joshua Springs, will contain 74 assisted living units and 30 memory care beds. Brookfield Communities is developing the medical office campus, which will break ground early this year. It had previously sold the land where Joshua Springs will be developed to Strata Management. Joshua Springs will be built by Seabold Construction and designed by John Lape. The facility will break ground next month. It is scheduled for completion in the first half of 2014.