Office

RESERVOIR WOODS WEST SECURES $80M REFINANCING LOAN

by admin September 11, 2012

WALTHAM, MASS. — HFF has arranged $80 million for the refinancing of three inter-connected suburban office buildings totaling 458,166 square feet in Waltham. The properties are located at 920, 930 and 940 Winter St. in the Reservoir Woods West Campus. Renovated in 2006, the buildings are fully leased to six tenants including Fresenius Medical Care and PerkinElmer. Riaz Cassum, Lauren O'Neil and Robyn King of HFF led the team that represented the borrower, an affiliate of Davis Marcus Partners. The team arranged the seven-year, fixed-rate loan through MetLife Real Estate Investments.

September 11, 2012

S&P FINISHES $16.5M RENOVATION OF JOHNSON SPACE CENTER

by admin September 11, 2012

HOUSTON — Satterfield & Pontikes Construction has completed a $16.5 million renovation of the 65,000-square-foot Building 12 at the NASA Johnson Space Center, located in Houston. The property was upgraded to achieve LEED Gold certification with features like lighting controls, wind turbines, high-effeciency plumbing fixtures and a 32,000-square-foot garden roof that houses more than 67,000 plants. Building 12 provides office space for human resources, finance, administration and onsite training functions.

September 11, 2012

Office Western

GIVEN IMAGING LEASES 25,199 SF IN CULVER CITY

by admin September 11, 2012

CULVER CITY, CALIF. – Given Imaging has signed a lease for a 25,199-square-foot office building in Culver City. It is located at 5860 Uplander Way. The building will serve as the company’s regional office. Given Imaging was represented by Bruce Hoffman of UGL Equis. The landlord, Nampco Real Estate, LLC, was represented by Steve Solomon and Eric Adams of Jones Lang LaSalle Los Angeles.

September 11, 2012

Office Southeast

NAI KLNB BROKERS $8.4M OFFICE PARK SALE

by admin September 10, 2012

BURTONSVILLE, MD. — NAI KLNB has arranged the $8.4 million sale of the 117,000-square-foot Burtonsville Office Park, a four-building portfolio located at 3901, 3905, 3909 and 3919 National Drive in Burtonsville. The properties are 72 percent leased to approximately 40 tenants. Chris Kubler of NAI KLNB represented the seller, Midland Loan Servicing, in the transaction. The buyer was an affiliate of Bernstein Management Corp.

September 10, 2012

Northeast Office

TWEEDY BROWNE CO. MOVES HEADQUARTERS FROM MANHATTAN TO STAMFORD

by admin September 10, 2012

STAMFORD, CONN. — Tweedy, Browne Co., an investment advisory firm, will relocate its headquarters from Park Avenue in Manhattan to the Metro Center building, adjacent to the Stamford Transportation Center. The company signed a 10-year lease for 24,421 square feet of office space. Malkin Construction is building out the space and the firm is expected to relocate in early 2013. Brian Goldman and Daniel Hassett of Newmark Grubb Knight Frank represented the tenant in the transaction. The landlord, Malkin Properties, was self-represented by Jeffrey Newman, Kimberly Zaccagnino and Tara Long.

September 10, 2012

Northeast Office

HUDSON FUNDS $9.1M LOAN FOR BROOKLYN OFFICE BUILDING

by admin September 10, 2012

NEW YORK CITY — Hudson Realty Capital has funded a $9.1 million first mortgage loan secured by a 90,000-square-foot office building in Brooklyn. The sponsor plans to use the loan for a discounted payoff and to establish operating and interest reserves. The Class B property is located at 540 Atlantic Ave. and will undergo upgrades to include the conversion of two floors into executive office space. The building is one block from Atlantic Terminal and two blocks from Atlantic Yards, a mixed-use development that includes the Barclays Center arena.

September 10, 2012

Office Texas

JPMORGANCHASE TOWER SIGNS SEVERAL LEASES

by admin September 10, 2012

HOUSTON — The 1.7 million-square-foot JPMorganChase Tower, a 75-story office tower located at 600 Travis St. in downtown Houston, has experienced a frenzy of leasing activity. The tower is now more than 96 percent leased, thanks to leases totaling more than 145,000 square feet. Linn Energy has expanded its lease by 58,944 square feet, which brings the total to 175,000 square feet. Trey Strake and Chris Oliver of Cushman & Wakefield represented the tenant in lease negotiations. Hines is the property manager of JPMorganChase Tower. Other leasing activity includes Breitburn Energy Partners expanding its lease by 22,561 square feet for a total of 66,045 square feet; Indigo Minerals and M2 Midstream renewed leases for 21,900 square feet; Denham Capital Management renewed its lease for 13,191 square feet; Crest Investment Co. renewed its lease for 11,493 square feet; KKR has expanded its lease by 9,286 square feet for a total of 23,291 square feet; McMurrey Investment Advisors signed a lease for 5,281 square feet; and KeyBank National Association signed a lease for 2,533 square feet.

September 10, 2012

Midwest Office

ALLIANCE PARTNERS ACQUIRES 300 WEST ADAMS

by admin September 7, 2012

CHICAGO — Alliance Partners has acquired 300 W. Adams, a 252,874-square-foot office building in Chicago's West Loop. The seller, a partnership between Sterling Bay Cos. and Annenberg Investments, acquired the 12-story building in 2007 for $23 million. At the time, the property was 68 percent occupied. The partnership undertook a multi-million dollar renovation and Wanxiang America Real Estate Group, a limited partner in the property, helped the ownership recapitalize the building. Today, the property is 93 percent leased. Michael Vesper of CBRE represented the seller in the transaction.

September 7, 2012

Office Texas

ARPT PURCHASES WESTERN PLACE I & II FOR $34M

by admin September 7, 2012

FORT WORTH — American Recovery Property Trust (ARPT) has acquired Western Place I & II, a 425,000-square-foot office complex in Fort Worth, for $34 million. The complex consists of two 10-story buildings and features tenants such as Lockheed Martin, BAE Information Systems, APEX Capital Corp. and Computer Science Corp. The transaction was ARPT's first real estate acquisition.

September 7, 2012

Office Texas

HFF CLOSES SALE, FINANCING FOR HOUSTON OFFICE PORTFOLIO

by admin September 7, 2012

HOUSTON — HFF has arranged the sale of a three-building office portfolio totaling 566,308 square feet, located at the intersection of Interstate 10 and Dairy Ashford Road in Houston's Energy Corridor. The three eight-story office buildings are 93.6 percent leased. Robert Williamson and H. Dan Miller of HFF represented the sellers, Falcon Southwest and CarVal Investors, in the transaction. Susan Hill of HFF arranged the acquisition financing through JPMorgan Chase Bank on behalf of the buyer, Beacon Investment Properties.

September 7, 2012

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