Office

ALLIANCE PARTNERS ACQUIRES 300 WEST ADAMS

by admin September 7, 2012

CHICAGO — Alliance Partners has acquired 300 W. Adams, a 252,874-square-foot office building in Chicago's West Loop. The seller, a partnership between Sterling Bay Cos. and Annenberg Investments, acquired the 12-story building in 2007 for $23 million. At the time, the property was 68 percent occupied. The partnership undertook a multi-million dollar renovation and Wanxiang America Real Estate Group, a limited partner in the property, helped the ownership recapitalize the building. Today, the property is 93 percent leased. Michael Vesper of CBRE represented the seller in the transaction.

September 7, 2012

ARPT PURCHASES WESTERN PLACE I & II FOR $34M

by admin September 7, 2012

FORT WORTH — American Recovery Property Trust (ARPT) has acquired Western Place I & II, a 425,000-square-foot office complex in Fort Worth, for $34 million. The complex consists of two 10-story buildings and features tenants such as Lockheed Martin, BAE Information Systems, APEX Capital Corp. and Computer Science Corp. The transaction was ARPT's first real estate acquisition.

September 7, 2012

Office Texas

HFF CLOSES SALE, FINANCING FOR HOUSTON OFFICE PORTFOLIO

by admin September 7, 2012

HOUSTON — HFF has arranged the sale of a three-building office portfolio totaling 566,308 square feet, located at the intersection of Interstate 10 and Dairy Ashford Road in Houston's Energy Corridor. The three eight-story office buildings are 93.6 percent leased. Robert Williamson and H. Dan Miller of HFF represented the sellers, Falcon Southwest and CarVal Investors, in the transaction. Susan Hill of HFF arranged the acquisition financing through JPMorgan Chase Bank on behalf of the buyer, Beacon Investment Properties.

September 7, 2012

Office Western

TELETECH HOLDINGS LEASES 25,678 SF AT BLACK CANYON CORPORATE CENTER

by admin September 6, 2012

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.

September 6, 2012

Office Southeast

WRIT SELLS MD. OFFICE BUILDING FOR $14.25M

by admin September 5, 2012

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.

September 5, 2012

Office Southeast

CFC PARTNERSHIP BUYS FLA. OFFICE BUILDING FOR $9.5M

by admin September 4, 2012

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.

September 4, 2012

Midwest Office

ALLIANCE DATA SYSTEMS JOINS EASTON OFFICE PARK

by admin September 4, 2012

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.

September 4, 2012

Office Western

ARTIS RECEIVES $43M ACQUISITION LOAN FOR MAX AT KIERLAND OFFICE BUILDING

by admin September 4, 2012

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

September 4, 2012

Northeast Office

ROTHSCHILD RENEWS LEASE AT AVENUE OF AMERICAS PROPERTY

by admin August 31, 2012

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.

August 31, 2012

Office Western

ALMADEN FINANCIAL PLAZA RECEIVES $46M IN REFINANCING

by admin August 31, 2012

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.

August 31, 2012

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