SAN DIEGO – A 69,600-square-foot office building in San Diego has received $6.9 million in permanent financing. The building sits adjacent to the Fashion Valley Mall within the Mission Valley submarket. The 10-year, fixed-rate loan was arranged for a group of private investors by Shaun Moothart of The Alison Company through a correspondent life company.
DENVER – A 7,500-square-foot office space located at 1390 Lawrence Street in Denver has sold to Gates Family Foundation for $2.3 million. The space is situated within a 31,912-square-foot building. The seller, Hover Building Partners, LLC, was represented by Tim Finholm and Sam Leger of Unique Properties, LLC – TCN Worldwide.
ORLANDO, FLA. — EnTrust Realty Advisors LLC has sold two single-story office buildings totaling 105,457 square feet at Concourse at Quadrangle business park in Orlando to Orlando-based Real Estate Inverlad. The Alter Group developed both properties, which are 91 percent leased, at 3850 and 3862 Quadrangle Blvd. in 2005 and 2006. Tenants include Siemens Corp. and State Farm Mutual Auto Insurance Co. EnTrust Realty Advisors is an affiliate of The Alter Group.
ARLINGTON HEIGHTS, ILL. — Cohen Financial has arranged a $5.5 million loan for the refinancing of Commerce Pointe I, an office building in Arlington Heights, a Chicago suburb. Located at 3800 N. Wilke Road, the 90,000-square-foot building is 22 percent occupied. Don Trossman of Cohen Financial secured the three-year loan through A10 Capital. The loan will also provide funds for future tenant improvements and leasing commissions for new leases. The borrower is a Chicago-based client of Cohen Financial.
WALTHAM, MASS. — New Boston Fund has completed renovations at Watermill Center, a 206,634-square-foot Class A office building in Waltham. The company spent three months upgrading the building's entrance and modernizing the main lobby. The work included carpet replacement, new wall coverings and landscaping upgrades. New Boston also installed a new revolving door, floor tiles and accent lighting.
DALLAS — Harvey Energy has purchased a 10,000-square-foot office building, located at 1875 Laws St. in downtown Dallas. The property will serve as Harvey Energy's new corporate headquarters. Jayson Montoya of NAI Robert Lynn arranged the off-market transaction.
DENVER – A 7,500-square-foot office space located at 1390 Lawrence Street in Denver has sold to Gates Family Foundation for $2.3 million. The space is situated within a 31,912-square-foot building. The seller, Hover Building Partners, LLC, was represented by Tim Finholm and Sam Leger of Unique Properties, LLC – TCN Worldwide.
PHOENIX – K Hovnanian Homes has renewed its lease for 19,892 square feet of space at Desert Ridge Corporate Center II in Phoenix. The homebuilder signed on for an additional eight years. Desert Ridge is located at 20860 N. Tatum Blvd. K Hovnanian was represented by Mark Seale of Cassidy Turley. The landlord, Faison, was represented by Bill Blake, Craig Coppola, Andrew Chene and Colton Trauter of Lee & Associates.
LIMERICK, PA. — MVD Entertainment has purchased a 30,000-square-foot warehouse and office property at 203 Windsor Road in Limerick. The audio visual distribution business is relocating from Oaks, Pa. The property is located inside the Limerick Airport Business Center and offers quick access to Route 422. Neil Shupak and Justin Bell of Newmark Knight Frank Smith Mack represented the buyer in the transaction. MVD plans to move into the space in January.
TULSA, OKLA. — Santa Fe, N.M.-based Rosemont Realty has acquired One Warren Place and Two Warren Place, the two largest suburban office buildings in Oklahoma. The two buildings are 96 percent leased and are located in the 52-acre Warren Place office complex at 6100 S. Yale in Tulsa. The 20-story One Warren Place spans 466,424 square feet, and the 19-story Two Warren Place spans 487,085 square feet. Rosemont purchased the two office towers from Parmenter Realty Partners. Rosemont Realty Services will provide asset management, leasing, sales and property management services for the office towers.