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.
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.
MIRAMAR, FLA. — Riviera Point Holdings has started vertical construction of the $17 million Professional Center at Riviera Point, the Miramar market's first Class A office development since 2009. Located on a four-acre site at University Drive and the Florida Turnpike, the 70,000-square-foot property is also the first Broward office development being funded through the job-creating international EB-5 investment. Itsaca Construction Associates will serve as the general contractor. Corrales Architectural Group designed the project.
FARMINGTON HILLS, MICH. — Bernard Financial Group has arranged a $2.8 million loan for Westfield Office Center, a two-story office building in Farmington Hills. The 40,847-square-foot building, which is located at 3020 Orchard Lake Road, was built in 1990. The borrower is Orchard Executive Offices LLC. Kevin Kovachevich of Southfield-based Bernard Financial arranged the loan.
WINDSOR, CONN. — O,R&L Commercial has sold 360 Bloomfield Avenue, a 64,137-square-foot Class A office building, for $5.6 million. The building, which is located at Exit 37 along I-91 in Windsor, was sold to Burlington, Mass.-based Capstone Properties. The building was 94 percent leased at the time of sale. The owner was Mattapoisett Properties LLC.
DALLAS — NorthMarq Capital has arranged $5 million in first mortgage refinancing for the 198,447-square-foot Woodview Tower, an office building located at 1349 Empire Central in Dallas. Bart Dickinson of NorthMarq's Dallas office arranged the five-year loan to amortize over 30 years through a Dallas-area bank.