PALO ALTO, CALIF. – An office building located at 3600 West Bayshore Road in Palo Alto has received a $4.66-million bridge loan. The 36,000-square-foot office building is being repositioned by Tarlton Properties, one of the building’s lead owners and its property manager. The three-year loan was arranged by Eric Von Berg and Tom Dao of Newmark’s San Francisco office.
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SOUTHPARK, N.C. — A 15,344-square-foot office building, located in Morrocroft Professional Center in Southpark, has sold for $2.06 million. Charles G. Monnett III & Associates will occupy the first floor and Dr. Samuel Randall and Dr. Eric VanHuss currently occupy the second floor. NAI Southern Real Estate represented Queens Barrister II, the buyer, in the transaction. Jonathan Nance of Grubb Properties represented the seller, Colony at Morrocroft LLC.
BURLINGTON, MASS. — Green Mountain Coffee Roasters is consolidating its single-cup Keurig brewing business into a new campus in Burlington. The company signed a lease for 424,000 square feet at the Burlington Research Center. The build-to-suit deal gives the company room to expand, while consolidating operations at facilities in Reading, Wakefield and Woburn. Michael Frisoli, J.R. McDonald and Robert Griffin of Cushman & Wakefield represented the tenant in the transaction. Jon Varholak and Ron Friedman of Richards Barry Joyce & Partners represented the landlord, the Gutierrez Co.
PARSIPPANY, N.J. — Hollister Construction Services has completed a 55,000-square-foot, interior fit-out for Pinnacle Food Group at 399 Jefferson Road in Parsippany. The project included the construction of new office areas, a lobby and a food service area. Gensler served as the architect for the project. Pinnacle Foods is a producer, marketer and distributor of branded food products.
HOUSTON — ICO Commercial has brokered the sale of 6,300 square feet of office/warehouse space, located at 14814 Park Almeda Drive in Houston. Nick Peterson and Payton Indermuehle of ICO Commercial represented the buyer, K&K Depeuter Investments, in the transaction. Clay Pritcett of NAI Houston represented the seller.
PHOENIX — A 77,337-square-foot, Class A office building called 101 Corporate Center has sold to 101 Corporate Center LLC for $6.2 million. The building is located at 19820 N. Seventh Street in Phoenix. The center is currently 45 percent leased. The seller, Gregg Williams of Trident Pacific Real Estate, who was the court-appointed receiver for the asset, was represented by Glenn Smigiel, Bob Young, Steven Brabant, Rick Abraham, Ashley Brooks, Jim Bayless and Nancy Romanovsky of CBRE’s Phoenix office.
CARLSBAD, CALIF. — Linear LLC has signed a 72-month lease renewal for 53,022 square feet of office space at Carlsbad Corporate Center. The center is located at 1950 Camino Vida Roble in Carlsbad. Linear occupies about 44 percent of the building’s total 121,541 square feet. The company was represented by CBRE’s Rob Gunness. The landlord, Parallel Capital Partners, was represented by Dennis Visser of Cassidy Turley.
WASHINGTON, D.C. — Forest City Washington, the Mid-Atlantic hub of Forest City Enterprises, has started the adaptive reuse of the 30,000-square-foot Lumber Shed, a former industrial property located on Water Street in Washington, D.C. The property sits in The Yards, a 5.5 million-square-foot redevelopment of the former Navy Yard property in the Capitol Riverfront district of Washington, D.C. The two-level glass pavilion will feature five restaurants on the ground floor and office space on the upper level. Osteria Morini, an Italian restaurant concept of the Altamarea Group, has signed a 4,250-square-foot lease as the first restaurant tenant. Completion is slated for the third quarter of 2013.
ST. PETERSBURG, FLA. — eMason has leased 40,647 square feet of office space at the Roosevelt Technology Center, located at 11399 16th Court N. in St. Petersburg. Jim Parker of Colliers International's Tampa Bay, Fla., office represented the tenant in the lease transaction, and Mike Talmadge of Echelon Real Estate Services represented the landlord, Pointe 16th. eMason plans to move into the space in July.
SHARONVILLE, OHIO — Cinelect Inc. has acquired Crowne Point, a 25,600-square-foot office building in Sharonville, for $1.67 million. The property was in receivership at the time of sale. Brian Graham of Cincinnati Investment Services served as advisor the seller and lender in the transaction, Wells Fargo. The building at 200 Crowne Point Dr. is situated on 2.5 acres.