WOODLAWN, ILL. — Grandbridge Real Estate Capital has arranged a $27 million first mortgage loan secured by Rutherford Business Park, a 359,937-square-foot office park in Woodlawn. The borrower is a partnership comprised of Chicago-based Blue Vista Capital Management and Baltimore-based CSG Partners. Jim Cope of Grandbridge's Milwaukee office arranged the financing through Kirk Booher of BB&T Real Estate Funding. The interest-only, floating rate loan is for a period of three years.
MISSION HILLS, CALIF. – The 34,310-square-foot Blackhawk building in Mission Hills has sold to Santa Monica West, LLC for $5.65 million. The three-story office building was 97 percent leased at the time of sale. The seller, Blackhawk Office Associates, LLC, was represented by Lynwood Fields and Bob Safai of Madison Partners.
ALPHARETTA, GA. — Meritex Enterprises, along with its undisclosed joint venture partner, has purchased the 92,000-square-foot Rubicon in Windward, a two-building office and warehouse property located at 1005 Alderman Dr. in Alpharetta, from MSB Alderman. The properties are 85 percent leased to 19 tenants. Resource Real Estate Partners represented the buyer in the transaction and has been retained as the leasing agent for the property. Meritex will manage the properties.
BLOOMINGTON, MINN. — Grandbridge Real Estate Capital has arranged a $7.5 million permanent loan secured by Creekridge Circle Office complex in Bloomington. The 81,617-square-foot property includes two, three-story Class A office buildings, Creekridge I and Creekridge II. The property is fully occupied. Tony Carlson of Grandbridge's Minneapolis office secured the loan through an undisclosed bank.
TOPEKA, KAN. — YRC Worldwide has retained NRC Realty & Capital Advisors to auction a two-story, 23,000-square-foot office building, located at 3420 SW Van Buren St. in Topeka. The building includes three open office areas, four private offices and 102 parking spaces. YRC will enter into a six-month, short-term lease after closing.
MILWAUKEE — Inland Construction has completed two projects for SSG Properties at the Blatz Wash House, located at 1101 N. Market St. in Milwaukee. Inland renovated the 14,000-square-foot parking garage and the 7,500-square-foot Milwaukee Symphony Orchestra offices. Both projects were completed in January.
HOUSTON — Jones Lang LaSalle has arranged the sale of two Class A office buildings, located at 4119 and 4203 Montrose in Houston, and an adjacent red brick home converted to an office property totaling 83,764 square feet. The properties are fully leased and have been for the past 4 years. Rudy Hubbard and Leah Gallagher of Jones Lang LaSalle's Houston office represented the seller, Hansen Partners, in the transaction. Equitas Commercial Real Estate Holdings, the buyer, has retained Hansen Partners to manage and lease the properties.
AUSTIN — HFF has arranged $33 million in acquisition financing for Prominent Pointe I and II, two office buildings totaling 261,243 square feet located at 8310 Capital of Texas in Austin. The properties are a combined 90.6 percent occupied. Doug Opalka of HFF's Austin office arranged the financing through a national life insurance company on behalf of the borrower, San Francisco-based Divco West Acquisitions. Chad Barrett and Bart Matheny of Austin-based AQUILA Commercial arranged the acquisition on behalf of the seller, Aspen Properties.
WAREN, N.J. — Jones Lang LaSalle Capital Markets has arranged $32 million in permanent financing for 30 Independence Blvd. on behalf of an affiliate of Beacon Capital Partners. The 210,524-square-foot Class A office building in Warren is fully leased to Verizon Wireless. Wes Boatwright, Jon Goldstein, Mike Yavinksy and Dustin Stolly of Jones Lang LaSalle led the team that secured the loan through Sovereign Bank.
NEW YORK CITY — The $19 million renovation of 80 Broad St. in Manhattan's Financial District is complete and owner Savanna has put the property back on the market. The 417,000-square-foot, multi-tenant office building includes a renovated lobby with enhanced lighting and modernized elevators. Savanna acquired the property in September 2011, but took it off the market to begin the capital improvement project. About 150,000 square feet of office space is currently available.