Office

IVY REALTY BUYS 420,000 SF STATION PLAZA

by admin October 18, 2012

HICKSVILLE, N.Y. — Ivy Realty has acquired Station Plaza, a two-building, 420,000-square-foot office complex in Hicksville. The property is located at 100, 102 and 110 Duffy Ave., adjacent to the Hicksville LIRR train station. The five-story buildings are 36 percent leased to tenants such as New York Sports Club and Farmers Insurance Group. Andrew Scandalios, Jose Cruz, Kevin O'Hearn and Jeffrey Julien led the HFF team that represented the seller, Duffy HH LLC, in the transaction. HFF also arranged the acquisition financing through Aetena Life Insurance Co. on behalf of the buyer.

October 18, 2012

CROSSTEX ENERGY LEASES 108,525 SF OF OFFICE SPACE

by admin October 18, 2012

DALLAS — Jones Lang LaSalle has secured Crosstex Energy's 108,525-square-foot lease at Crosstex Court, a seven-story corporate office development previously known as Cedar Springs Plaza, located at 2501 Cedar Springs Road in uptown Dallas. Steve Thelen, Jeff Staubach, Torrey Littlejohn and Vince Burt of Jones Lang LaSalle represented the tenant in the lease transaction. Michael Dudley and Hunter Lee of CBRE Group represented the landlord, Caddo Holdings.

October 18, 2012

Office Western

ORBITAL SCIENCES OFFICE BUILDING IN CHANDLER SELLS FOR $19.5M

by admin October 17, 2012

CHANDLER, ARIZ. – An 83,183-square-foot office building in Chandler that is fully leased to Orbital Sciences has sold to Paramount International LLC for $19.5 million. The building is located at 3377 S. Price Road within the Price Corridor. Paramount was represented by Tivon Moffitt of Colliers International. The seller, Gilbane Development Company, was represented by Barry Gabel and Mindy Korth of CBRE’s Phoenix office.

October 17, 2012

Office Southeast

CLARION PARTNERS ACQUIRES OFFICE PARK FOR $36.2M IN DURHAM, N.C.

by admin October 17, 2012

DURHAM, N.C. — New York-based Clarion Partners, a real estate investment manager, has acquired Palladian I and Palladian II, a two-building suburban office park in Durham, for $36.2 million on behalf of Brown Brothers Harriman (BBH) Real Estate Income Fund II. Both four-story office buildings were built between 2005 and 2007, and each has more than 100,000 square feet of office space. The properties are located at the intersection of I-40 and Route 54 with access to the Raleigh-Durham International Airport and the Research Triangle Park.

October 17, 2012

Office Texas

CIELO BUYS OFFICE PROPERTY IN HARLINGEN

by admin October 17, 2012

HARLINGEN — Austin-based Cielo Realty Partners has purchased a 40,000-square-foot office building, located at 2200 Haine Drive in Harlingen. Cielo plans to begin renovating the property immediately. Brandon Beason of Edge Realty and Connie de la Garza of Bahnman Realty represented the seller in the transaction. The buyer was self-represented.

October 17, 2012

Office Texas

MAXIM SELLS OFFICE/FLEX BUILDING IN FARMERS BRANCH

by admin October 17, 2012

FARMERS BRANCH — Maxim Integrated Products has sold its 20,350-square-foot office/flex building, a single-story property located at 4220 Beltwood Parkway in Farmers Branch. The disposition is the first of 13 vacant properties that Maxim is planning to sell following the company's acquisition of Dallas Semiconductor Corp. in 2001. Maxim now occupies a new 138,000-square-foot Class A property. Leigh Richter and Jason Miller of Bradford Commercial Real Estate Services are representing the seller for all 13 dispositions, either on an individual or bulk basis. Brian Pafford, also of Bradford, represented the buyer, ACMC Ventures LLC, in the transaction.

October 17, 2012

Office Western

ORBITAL SCIENCES OFFICE BUILDING IN CHANDLER SELLS FOR $19.5M

by admin October 17, 2012

October 17, 2012

Midwest Office

ARES ARRANGES $36M LOAN FOR CINCINNATI OFFICE PROPERTY

by admin October 16, 2012

CINCINNATI — Ares Commercial Real Estate Corp. has arranged a $36 million first mortgage loan for the refinancing of a Class A office building in Cincinnati's central business district. The initial funding amount is $27 million with $9 million in loan proceeds available to be drawn over time to fund tenant improvements and leasing commissions.

October 16, 2012

Midwest Office

BUYER ACQUIRES MINNEAPOLIS OFFICE BUILDING TO CONVERT TO HOTEL

by admin October 16, 2012

MINNEAPOLIS — U.S. Hotel and Resort Management of Sioux Falls, S.D. has acquired an office building, located at 401 First Ave. N. in Minneapolis, for $2.7 million The Historic Warehouse District property contains 55,250 square feet. The buyer plans to develop the property into an upscale boutique hotel. Lou Suski and John Chirhart of Gaughan Cos./CORFAC International represented the seller, a local community bank, in the transaction. They also procured the buyer.

October 16, 2012

Midwest Office

UNIVERSITY OF MINNESOTA PHYSICIAN SIGNS 27,000 SF LEASE

by admin October 16, 2012

BROOKLYN CENTER, MINN. — The University of Minnesota Physicians (UMP) has signed a 10-year lease for 27,000 square feet of office space at Brookdale Corporate Center in Brooklyn Center. UMP is relocating its administrative offices from Columbia Heights. The corporate center is located at 6300 Shingle Creek Parkway. Additional tenants include National American University, the Internal Revenue Service and Kidney Specialists of Minnesota. Steve Brown of Cushman & Wakefield represented the tenant in the transaction. Stewart Capital Partners owns the property, which is managed by CBRE Group.

October 16, 2012

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