ENCINO, CALIF. — Barrister Executive Suites has signed a lease renewal for the seventh floor of the Encino Financial Center. The center, which is also known as the City National Bank Building, is located at 16133 Ventura Blvd. in Encino. Barrister has occupied this 18,497-square-foot space since 1977. Barrister was represented by David DeFore from CBRE’s Universal City office. The landlord is Lowe Enterprises.
CHARLOTTE, N.C. — CBRE Group has secured $119.8 million in acquisition financing for the 678,715-square-foot Fifth Third Center, a Class A office building located at 201 N. Tryon St. in Charlotte. The property is 98 percent leased to tenants that include Bank of America, McGuire Woods, Fifth Third Bank and Carousel Capital. Charles Foschini, Christian Lee and Christopher Apone of CBRE Group secured the two-part financing on behalf of the borrower, Miami-based Parmenter Realty Partners. SunTrust provided a three-year loan and Redwood Commercial Mortgage Corp. provided a mezzanine loan.
MINNEAPOLIS — First and First LLC has purchased three office buildings in Minneapolis located at 244, 248 and 252 First Ave. in the Historic Warehouse District for $1.2 million. The buildings, known as the Yamamoto Moss Offices, total 42,000 square feet. Together, there are three office users that occupy 75 percent of the buildings. Josh Floring of The Ackerberg Group represented the seller, Yamamoto Moss Leasing Co., in the transaction.
COLLEGEVILLE, PA. — The Dow Chemical Co. has agreed to move its Northeast USA Technology Center from Spring House, Pa. to Collegeville. The company plans to open a 750,000-square-foot research and development facility, located within the Pfizer Pharmaceutical campus on Acrola Road. Dow plans to relocate 800 employees, who will begin moving to the site as early as the first quarter of 2013.
SECAUCUS, N.J. — ZT Systems has inked a lease for 23,451 square feet of office space in Secaucus, which will serve as the company's new headquarters. The building is located at 333 Meadowlands Parkway and the tech firm will occupy the entire second floor. Frank Lopriore of Colliers International represented the tenant in the transaction. Josh Osborne of Bergman Real Estate Group represented the building owner. Built in 1981, 333 Meadowlands is part of the Harmon Cove office complex. Other tenants in the park include MSNBC and Panasonic.
WAYNE, PA. — The Davis Cos. and MIM-Hayden Real Estate Funds plan to invest $16 million in building renovations to redesign two existing buildings at 530 and 580 E. Swedesford Road in Wayne. The owners plan to transform the property into 272,000 square feet of trophy-class office space known as CrossPoint at Valley Forge. CrossPoint will feature a conference center, 4,000-square-foot fitness center and a full-service cafe. Construction will begin this fall.
NEW YORK CITY — Stack Exchange Inc. has signed an 11-year lease for 30,200 square feet at 110 Williams St. in New York City. Stack Exchange is a network of question-and-answer websites that focus on specific categories such as cooking and photography. The company will occupy the 27th and 28th floors of the building. Jonathan Dean of Swig Equities and Bill Stempel of McDermott Will & Emery LLP represented the landlord in the transaction.
MINNEAPOLIS — mono, a creative branding agency, has signed a 20,400-square-foot lease at Mozaic, a new development in Minneapolis by The Ackerberg Group. Mozaic includes 65,000 square feet of office space. With the new lease signing, the building is currently 57 percent leased to four tenants. Tony Weinstein of Marquee Real Estate Advisors represented mono in the transaction.
NEW YORK CITY — Amazon Corporate LLC has expanded at 1350 Avenue of Americas, increasing its space to 92,493 square feet at the 35-story tower on the corner of West 55th St. The expansion includes 24,707 square feet. 1350 Avenue of Americas has recently undergone renovations that include a new lobby, upgraded security and new common corridors. Justin Halpern and Marcus Reyner of Cresa Partners represented the tenant in the transaction. Howard Tenenbaum and Gary Rosen represented the building owner, SL Green.
MIAMI — Miami Dade College (MDC) has acquired the 175,000-square-foot InterAmerican Plaza, an office building located at 701 SW 27th Ave. in Miami, for $25 million. The 14-story property is adjacent to MDC's InterAmerican Campus. Adam Lustig of Bilzin Sumberg Baena Price & Axelrod represented Shavuot, the seller, in the transaction. Hank Klein of Blanca Commercial Real Estate, along with Frank Kohn of Ashlin Group, represented the buyer.