SAN ANTONIO — Transwestern's San Antonio office has arranged the sale of Brookhollow Park, a 102,466-square-foot, Class A office building located at 911 Central Parkway N. in the North Central submarket of San Antonio. The multi-tenant office building is fully leased. Alan Grilliette, Hale Umstattd and Leah Gallagher of Transwestern represented the seller, Grosvenor International, in the transaction.
DENVER – A pair of contiguous, Class A office buildings in Denver have received $74 million in refinancing. The buildings are located at 1400 Wewatta and 1401 Wynkoop in the city’s Lower Downtown Denver (LoDo) District. The Wewatta property contains a 202,000-square-foot office building with ground-floor retail. The Wynkoop property contains a 98,000-square-foot office building with ground-floor retail and residential condominiums on the top four floors. The condos were not included in the collateral. The properties are connected by a sky bridge. They also share a parking garage. Notable tenants at the properties include Chipotle Mexican Grill’s world headquarters, Kilpatrick, Townsend & Stockton, LLC, Dorsey & Whitney LLP, Milliman and George K. Baum & Company. HFF’s Eric Tupler, Josh Simon and Jake Young worked on behalf of the borrower, Wewatta and Wynkoop PT LLC, a GE Asset Management and Crestone Partners managed entity. The team secured a permanent loan through a national life insurance company correspondent lender.
MALVERN, PA. — The Vanguard Group has hired Liberty Property Trust to develop a 200,000-square-foot office building for $55 million. The six-story office property will be located at Great Valley Corporate Center in Malvern, which is about 26 miles west of Philadelphia. Construction for the project is slated to begin in March and finish in 2014. The building was designed by D2CA Architects and is expected to achieve certification. Studio Bryan Hanes is the landscape architect, and Bala Consulting Engineers is the project engineer.
PROVIDENCE, R.I. — CBRE/New England has arranged a $14.9 million, 10-year, interest-only loan for 15 LaSalle Square, the new home to Pawtucket, R.I.-based Hasbro Inc. The Class A office building spans 135,908 square feet and is located in downtown Providence. The loan was arranged on behalf of the buyer, Inland Real Estate Acquisitions, through Niagara Bank. CBRE/NE arranged the sale of the property in December on behalf of the seller, Berkeley Investments, to Inland for $29.8 million. *
LONG BEACH, CALIF. – The first building to be completed at Pacific Pointe at Douglas Park in Long Beach has sold to Providence Industries for $12.7 million. The project is being developed by Sares-Regis Group (SRG) and features seven corporate headquarters buildings in a business park adjacent to Long Beach Airport. Providence Industries will expand and relocate to the 91,145-square-foot building from its former space in nearby Paramount. SRG also owns the adjacent 160 acres within Douglas Park. Providence was represented by Chuckie Lyons of Lyons & Lyons Properties. SRG was represented by CBRE’s Brian DeRevere and John Schumacher.
RALEIGH, N.C. — KBS Realty Advisors has acquired Captrust Tower, a 300,389-square-foot office and retail building in the North Hills area of Raleigh. The sale also includes a six-level parking deck. The 17-story tower is 95 percent leased to 18 tenants, including Captrust Financial Advisors, the American Board of Anesthesiology and Regus. Duke Realty and Kane Realty developed the building in 2009 and Kane will retain an ownership interest in the project through a joint venture with KBS.
ORLANDO, FLA. — Consolidated-Tomoka Land Co. has acquired a two-building, 133,000-square-foot office complex leased to Hilton Resorts Corp. in Orlando for $14.6 million. Both buildings are under a long-term lease, with more than eight years remaining on the term. The purchase marks the company's sixth acquisition in 2013, and brings its single-tenant portfolio to a total of 38 properties across seven states.
ATLANTA — Wyatt Family Partnership has purchased Venture Center, a 39,185-square-foot office building at 1605 Chantilly Drive in Atlanta, for $3.1 million. Children's Healthcare of Atlanta is the anchor tenant in the three-story property, which is fully leased. The building, visible from I-85, is just north of the Lenox Road/Cheshire Bridge intersection. Hunter Henritze, Michael Howell and Chip Sipple of Lincoln Property Co. Southeast represented the seller, CRM Properties LLC. Wyatt Realty Co. represented the buyer.
NORTH CHARLESTON, S.C. — Hudson Realty Capital has arranged a $7.5 million acquisition loan for a 77,777-square-foot office building in North Charleston. The Class A building was constructed in 1990. The borrower plans to use the funds to purchase the property and initiate lease-up of the remaining space.
CINCINNATI — Holiday Office Park, a three-building, 349,000-square-foot office complex in Cincinnati, has sold for $2.6 million to Neyer Properties, a local full-service commercial real estate developer. The office complex is 51 percent occupied and faces the October 2014 departure of anchor tenant Paycor, a Cincinnati-based payroll services provider. The seller was Florida-based First City Financial Corp, which was represented by Cassidy Turley in the deal. First City purchased the property in November 2011 for $4.7 million.
