Office

NORTHMARQ ARRANGES $58.5M LOAN FOR CHICAGO OFFICE PROPERTY

by admin April 16, 2012

CHICAGO — Jeff Cherner of NorthMarq Capital's Chicago office has arranged $58.5 million in mortgage financing for 400 S. Jefferson in Chicago. Sterling Bay Cos. is renovating the office property, which is located at the southwest corner of Jefferson and Van Buren streets. Bank of America provided the three-year, floating-rate loan. Funds from Heitman Capital Management and the ownership were used to close the acquisition of the existing facility in February. Bank of America is providing the construction loan. The renovation of the building, which is slated for completion later this year, will include a new exterior, new building systems and a green rooftop deck.

April 16, 2012

RED HAT TO EXPAND WESTFORD OFFICES

by admin April 16, 2012

WESTFORD, MASS. — Red Hat has signed a build-to-suit development and lease extension at Westford Technology Park in Westford. The Gutierrez Co. will expand the software company's existing 75,000-square-foot building at 314 Littleton Rd. by an additional 100,000 square feet. The new addition will include four floors of office space. Construction is slated for completion in 2013. John Wilson, Brian McKenzie and James Lipscomb of Richards Berry Joyce & Partners represented the building owner, Gutierrez Co., in the deal. Jones Lang LaSalle represented the tenant.

April 16, 2012

Northeast Office

LAW FIRM SIGNS 14,320-SQUARE-FOOT LEASE IN NYC

by admin April 16, 2012

NEW YORK CITY — Pomerantz Haudek Grossman & Gross has signed a 14,320-square-foot headquarters lease at 600 Third Ave. in New York City. The law firm is slated to occupy the space in June, relocating from 100 Park Ave. Ted Rotante and Robert Freedman of Colliers International represented the tenant in the deal. Andrew Wiener of L&L Holding Co. LLC represented the building owner.

April 16, 2012

Northeast Office

FINANCIAL SERVICES FIRM INKS LEASE IN NYC

by admin April 16, 2012

NEW YORK CITY — Four Wood Capital Partners has signed a 4,343-square-foot lease at 100 Wall St. The privately held financial services firm will occupy a portion of the 11th floor for an 8-year term. Mitch Konsker, Scott Cahaly and Brian Reiver of Jones Lang LaSalle represented the landlord, Savanna, in the deal. Josh Winslow of Winslow & Co. represented the tenant.

April 16, 2012

Office Southeast

TWO FLA. OFFICE BUILDINGS SELL FOR $3.75M

by admin April 13, 2012

TAMPA, FLA. — The 24,735-square-foot Watermark 5, located at 5415 Mariner St., and the 29,132-square-foot Watermark 7, located at 5410 Bay Center Dr., both in Tampa, have sold for $3.75 million. Elliott Ross of Clearwater-based The Ross Realty Group represented Watermark Acquisition Group, the buyer, in the transaction. Redstone Asset Management Services represented Marketview Properties III, the seller.

April 13, 2012

Office Texas

TCC, PREI ACQUIRE FUTURE OFFICE BUILDING SITE

by admin April 13, 2012

HOUSTON — Trammell Crow Co. (TCC) and Principal Real Estate Investors (PREI) have purchased an 18.9-acre site, located at the southwest corner of Interstate 10 and North Eldridge Parkway in Houston's Energy Corridor. The site will be the home of a multi-phase development that will include up to 1.5 million square feet of Class A office space. The first phase will be a 530,000-square-foot office building and a nine-level, free-standing parking garage. Amenities will include a double-height lobby, a fitness center, a conference center and a dining facility. Houston-based Kirksey Architects is designing the property to achieve LEED Gold certification. Construction is slated to begin late 2012 with a late 2014 delivery. Aaron Thielhorn, Kevin Schmok and Brandon Houston of TCC's Houston office will lead the development team.

April 13, 2012

Office Texas

NAI ROBERT LYNN BROKERS 307,745 SF LEASE

by admin April 13, 2012

ARLINGTON — Dallas-based NAI Robert Lynn has arranged a 307,745-square-foot lease of office/warehouse space, located at 3000 E. Pioneer Parkway in Arlington. Craig Jones of NAI Robert Lynn represented the tenant, Automotive Parts Distribution International, in the lease transaction. Canon Green and Bates Arnot of Stream Realty's Dallas/Fort Worth office represented the undisclosed landlord.

April 13, 2012

Office Texas

HINES ARRANGES LEASE IN PHOENIX TOWER

by admin April 13, 2012

HOUSTON — Houston-based Hines has brokered WorleyParson's lease of 50,716 square feet of office space in the 629,000-square-foot Phoenix Tower, a 34-story office tower located at 3200 Southwest Freeway in Houston. Lou Cushman and Courtney Estenson of Cushman & Wakefield of Texas' Houston office represented the tenant in the lease transaction. Paula Burns and Tyler Garrett of Hines represented the landlord, FSP Phoenix Tower Limited Partnership.

April 13, 2012

Office Texas

S&P WINS $14.5M BID FOR OFFICE BUILDING RENOVATION

by admin April 13, 2012

AUSTIN — The Texas Facilities Commission has awarded Satterfield & Pontikes Construction (S&P) a $14.5 million project for removing and replacing all exterior panels from the Robert D. Moreton building, an office building located in central Austin. Completion of the renovation is slated for spring 2014.

April 13, 2012

Office Southeast

M&M BROKERS $6.25M OFFICE SALE

by admin April 12, 2012

BOCA RATON, FLA. — Marcus & Millichap has arranged the $6.25 million sale of the 70,000-square-foot The Courtyard, a four-story office building located at 5301 N. Federal Hwy. in Boca Raton. Douglas Mandel of Marcus & Millichap's Fort Lauderdale, Fla., office, along with Benjamin Silver of the firm's Miami office, represented the seller, a Boca Raton-based partnership, in the transaction. The buyer was a local investor in a 1031 exchange.

April 12, 2012

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