PHOENIX – TeleTech Holdings has leased 25,678 square feet in the Black Canyon Corporate Center in Phoenix. The five-year lease will allow TeleTech to double in size. It operates a call center for its subsidiary company, Revana, out of the space. John Bonnelland Don Muddof Jones Lang LaSalle’s Phoenix office represented the owner, Parallel Capital Partners, in this transaction.
ROCKVILLE, MD. — Washington Real Estate Investment Trust has sold a 101,000-square-foot office building, located at 1700 Research Blvd. in Rockville, for $14.25 million. The buyer was a partnership that includes a long-time tenant of the property. The four-story building is Energy Star Certified.
NAPLES, FLA. — CFC Partnership has purchased a 50,000-square-foot office building, located at 4851 Tamiami Trail N. in Naples, from Naples RB Holdings LLC for $9.5 million. David Stevens of Investment Properties Corp. represented the buyer in the transaction.
COLUMBUS, OHIO — Alliance Data Systems has signed a lease for 69,981 square feet at 4400 Easton Commons in the Easton Office Park in Columbus. Randy Stephens and Brian Douglas of Cassidy Turley represented the building owner, Equity Office Properties, in the transaction. Equity acquired the property in 2011 as part of a 19-building office portfolio purchase from Duke Realty.
SCOTTSDALE, ARIZ. – Artis, a Canadian-based REIT, has received a $43-million acquisition loan to finance the purchase of the MAX at Kierland office building in Scottsdale.The 258,312-square-foot, Class A building was constructed in 2008. It is Shell and Core LEED-certified and received a 100% Energy Star designation. Artis worked with U.S. Bank to secure the financing
NEW YORK CITY — Rothschild North America, a financial services firm, has renewed its 70,000-square-foot lease at 1251 Avenue of Americas in New York City. Rothschild has been a tenant of the building since 1993 and will remain in the property through 2028. Michael Goldman of Studley represented the tenant. David Falk, Peter Shimkin and Nick Berger of Newmark Grubb Knight Frank represented the landlord, Mitsui Fudosan America Inc.
SAN JOSE, CALIF. — Almaden Financial Plaza, a 415,000-square-foot, Class A office complex in downtown San Jose, has received $46 million in refinancing. The five-year, fixed-rate loan was used to refinance a maturing securitized loan. Some of the funds will also be used for building improvements and leasing costs. The loan includes a three-year, interest-only period and a 30-year amortization schedule. It is open to pre-payment at par after 18 months. Financing was arranged for an affiliate of Embarcadero Capital Partners LLC by HFF’s Peter Smyslowski, Gerry Rohm, Kevin Redford and James Fowler through Guardian Life Insurance Company of America.
WASHINGTON, D.C. — First Potomac Realty Trust has sold its 95 percent interest in an 85,000-square-foot office building, located at 1200 17th St. in Washington, D.C., for $43.7 million. The company acquired the interest in 2011 for $37.6 million in a joint venture with Akridge, which will continue to own its portion of the building.
ARLINGTON, VA. — The 184,216-square-foot Webb Building, an office building located at 4040 N. Fairfax Drive in Arlington, has received financing totaling $54.7 million for the repositioning and re-tenanting of the property as part of the Base Realignment and Closure initiative. FCP Fund II provided $21.2 million of equity, and Wells Fargo has provided a $33.5 million loan facility for the project, which is slated to begin in December. The building will be vacated and fully renovated with a new lobby, landscaping, facade improvements, fitness center, updated common areas, updated HVAC, fire and life safety systems and a roof deck with extensive views. Federal Capital Partners and RESI Management own the Webb Building.
ADDISION — Regions Bank has sold the 79,481-square-foot Westgrove Air Plaza, a two-story office building located on land leased to Addison Airport at 4570 Westgrove Road in Addison. The property is 50 percent occupied by 15 tenants. Dallas-based Bradford Commercial Real Estate Services represented the buyer, North Texas-based Guardian Texas Management, in the all-cash transaction.