Office

PEARLMARK ACQUIRES AUSTIN OFFICE PORTFOLIO

by admin December 7, 2011

AUSTIN — Pearlmark Real Estate Partners has acquired Cityview Centre and The Setting I-III in Austin for a combined 284,216 square feet of office space from The Blackstone Group through its value-add fund, Aslan Realty Partners IV. Cityview Centre is a 137,763-square-foot office building located at the intersection of Loop 360 and Lost Creek Blvd., and The Setting I-III is a 146,453-square-foot office park located adjacent to Cityview Centre. The properties were 91 percent leased at the time of the transaction to tenants such as Level 3Communications; Meyertons Hood; Kivlin, Kowert & Goetzel; Coherent Logix; and KLD Energy Technologies. Luke Wheeler and Will Stewart of Transwestern's Austin office will market the property.

December 7, 2011

NORCAL MEDICAL OFFICE BUILDING RECEIVES $16.5M LOAN

by admin December 7, 2011

LOS ANGELES — A 64,144-square-foot medical office building in Northern California has received a $16.5-million, non-recourse loan with cash out that will be used to refinance the building. The loan carries a fixed rate of 6.01 percent for 10 years, a 30-year amortization schedule and a 68 percent loan-to-value. The building was constructed in 2003. Financing was arranged by Jake Roberts and Anita Paryani of Marcus & Millichap Capital Corporation’s West Los Angeles office.

December 7, 2011

Office Western

WESTBAY OFFICE PARK SELLS FOR $7.8M

by admin December 7, 2011

LAS VEGAS — Westbay Office Park, a 107,650-square-foot office/medical office building in Las Vegas, has sold to Omninet for $7.8 million. The property is located at 3008 West Charleston Blvd. CBRE’s Charles Moore, Michael Newman and Marlene Fujita represented the lender in this transaction.

December 7, 2011

Office Western

OFFICE BUILDING IN NEWBURY PARK SELLS FOR $2.2M

by admin December 7, 2011

NEWBURY PARK, CALIF. – A 19,248-square-foot office building in Newbury Park has sold to Bradley Trust for $2,295,000, or $119 per square foot. The two-story building was constructed in 2002 and is located within the USA Business Center. Bradley Trust was represented by Chris Swatosh and Sam Wagner of TOLD Partners. The seller, Zions First National Bank, was represented by Stuart Scott and Shaun Bieniek of DAUM’s Ventura County office.

December 7, 2011

Northeast Office

HUDSON SQUARE OFFICE TOWER REACHES FULL OCCUPANCY

by admin December 6, 2011

NEW YORK CITY — An office tower located at 137 Varick St. in Hudson Square has reached full occupancy, thanks to two new tenants and another tenant expanding its space. The NYU Poly Varick Street Incubator, an entrepreneur development program run by The Polytechnic Institute of NYU, signed a three-year lease to relocate to 28,364 square feet of space in the building's second and seventh floors. Paik Architecture agreed to a five-year lease for 2,988 square feet of office space and Unity Construction signed a four-year extension to increase its square footage to 3,100 square feet from 2,000 square feet. Trinity Real Estate, the building's owner, was represented by Marc Packman and Tom Lynch in the company's negotiations with Unity Construction and Paik Architecture. Peter Fontanetta represented Trinity in the NYU-Poly deal. All three leases were negotiated directly with the tenants.

December 6, 2011

Office Texas

SHELL SIGNS LARGEST 2011 OFFICE LEASE IN WORLD

by admin December 6, 2011

HOUSTON — Shell has renewed a 15-year lease for 804,491 square feet in One Shell Plaza and 471,934 square feet in Two Shell Plaza in Houston, a combined 1.22 million square feet of office space, the largest office lease transaction in the world in 2011. Tim Relyea and Joe Peddie of Cushman & Wakefield's Houston office represented Shell in the lease transaction. Hines, the buildings' owner, was self-represented by Charles Elder and Chrissy Wilson. As part of the lease agreement, Hines will make capital improvements to the property, including mechanical and electrical upgrades and redesigned outdoor plaza areas.

December 6, 2011

Office Western

OAKLAND TRIBUNE BUILDING SELLS FOR $8M

by admin December 6, 2011

OAKLAND, CALIF. — The historic 85,000-square-foot Oakland Tribune building has sold to CallSocket LP for $8 million. The company plans to create a call center at the building that should create 2,300 new jobs in Oakland over the next three years. CallSocket was represented by CBRE’s David Noravian, Hyoung Chon and Robert Newstead. The seller, special servicer Torchlight Investor, was represented by Lori Bluett of Bluett & Associates, which will also manage the asset.

December 6, 2011

Office Southeast

BRASCO BAY CORP. SELLS OFFICE FOR $1.5M

by admin December 5, 2011

VIRGINIA BEACH, VA. — Brasco Bay Corp. has sold the 10,000-square-foot Monarch Plaza, an office property located at 3701 Pacific Ave. in Virginia Beach, to Hank Elling for $1.5 million. Ted Levin of Cushman & Wakefield/Thalhimer's Glen Allen, Va., office represented the seller in the transaction.

December 5, 2011

Midwest Office

NORTHPOINT ARRANGES $21 MILLION LOAN FOR ILLINOIS OFFICE

by admin December 5, 2011

BURR RIDGE, ILL. — NorthPoint Capital – Chicago Inc. has arranged a $21 million loan to refinance Estancia Corporate Center in Burr Ridge, Ill. The 157,000-square-foot office complex consists of a one- and three-story building. An undisclosed life insurance company provided the non-recourse loan, which has a 30-year amortization schedule. Paul Walschlager of NorthPoint Capital arranged the financing.

December 5, 2011

Midwest Office

LOWE ENTERPRISES BUYS OFFICE BUILDING IN O'HARE AREA OF CHICAGO

by admin December 5, 2011

CHICAGO — Los Angeles-based Lowe Enterprises Investment Management has acquired a 165,957-square-foot office building in the O'Hare area of Chicago from Fulcrum Asset Advisors on behalf of a pension fund client. The building, set on 6.7 acres, is 95 percent leased and is zoned for an additional 235,000 square feet of commercial development. The purchase amount was undisclosed.

December 5, 2011

Newer Posts

Older Posts

Upcoming Events

Aug
06