BLUE BELL, PA. — PCCP, LLC has provided a $23.75 million loan to Bala Cynwyd, Pa.-based Keystone Property Group for the recapitalization of a 228,000-square-foot Class A office complex in Sentry Park West in Blue Bell. The office building sits on 16 acres at 1777 Sentry Pkwy. W. and includes five buildings: Gwynedd Hall, Dublin Hall, Abington Hall, Merion Towle and a branch of PNC Bank.
NEW YORK CITY — Apple has leased 40,000 square feet of office space at 100-104 Fifth Ave. in Manhattan’s Union Square in New York City, which will serve as Apple’s first executive offices in Manhattan. The office property is a 17-story, 270,000-square-foot office building that houses tenants like Yelp, Interactive Partners and Net-A-Porter. The Kaufman Organization, in partnership with Invesco, owns the office building, which is going through a $9 million renovation to the lobby, elevators and building infrastructure. Grant Greenspan represented The Kaufman Organization in house, and Martin Horner of Jones Lang LaSalle represented Apple.
RICHMOND, VA. — Cushman & Wakefield/Thalhimer has arranged the $4.3 million sale of the 76,164-square-foot Villa Park I office building, located at 8040 Villa Park Dr. in Richmond. Mark Douglas and Brian Berkey of Cushman & Wakefield/Thalhimer's Richmond office represented the seller, Orix Capital Markets, in the transaction. The buyer was Villa Park I, LLC.
BILLERICA, MASS. — E Ink has signed a lease to occupy the entire 139,180-square-foot office flex building at 1000 Technology Park Dr. in Billerica. Colliers International’s Tad Lee and Christopher Lawrence represented E Ink, while Doug Fainelli and Jason Denoncourt represented the landlord, The Gutierrez Company, in house. The office building is a single story building in Concord Road Technology Park, which houses tenants such as GE Industrial Sensing, Inc., Raytheon Co., Avaya and Luminus Devices.
DALLAS — Jones Lang LaSalle’s (JLL) Capital Markets has secured a $205 million loan for a joint venture for The Crescent, a 1.3 million-square-foot office complex in Dallas. The joint venture between J.P. Morgan Asset Management and Crescent Real Estate Equities received the 10-year, interest-only loan through MetLife. JLL’s Mike Melody, Paul House, Robby Zorich and John Alvarado arranged the financing. The Crescent features Class A office and retail space, and is comprised of more than 100 tenants. The property is located in Dallas’ Uptown/Turtle Creek submarket at 200 Crescent Ct.
RICHARDSON — Colliers International in Dallas has added approximately 150,000 square feet of office space to its leasing and management portfolio. The properties now under their operation include Campbell Square II, a four-building complex totaling 82,745 square feet of office space, and Spring Creek Business Center, a three-building complex totaling 64,534 square feet of office space. There is currently 26,311 square feet of office space available at Campbell Square and 16,230 square feet at Spring Creek. Colliers’ Scott McGarity and Kevin Brookmole will handle the properties’ leasing and management.
JERSEY CITY, N.J. — Gaia Real Estate Investments, in partnership with Israel-based Phoenix Insurance and Menora Mivtachim Insurance, has purchased 2 Journal Square Plaza, a nine-story, 325,000-square-foot Class A office building in Jersey City for $78 million. Hartz Mountain Industries, represented by Cushman & Wakefield’s David Bernhaut, Andrew Merin, Gary Gabriel and Jared Zimmel, sold the property, which features a four-level parking deck with 715 spaces. The building had been fully leased to Broadridge Financial Solutions since 1987, and Broadridge’s lease doesn’t expire until 2018. Gaia’s subsidiary, Vision Property Management, will assume management of 2 Journal Square Plaza.
LUBBOCK — HDA Architects has designed a 112,000-square-foot corporate headquarters in Lubbock for Standard Sales Co. The building cost $10.8 million to construct. General contractor SM Wilson completed construction on the project. The building features a clay tile mansard roof, slate floors and brick and stone veneers. Standard Sales Co. is the wholesale distributor for Anheuser-Busch, which produces Budweiser and Michelob beverages. The new facility marks HDA’s 90th facility it has designed for the beverage industry.
COPPELL — An 8,006-square-foot office building in the Gateway Plaza Development at 783 Denton Tap Rd. in Coppell was sold by an affiliate of Dallas-based Realty Capital. The building is 83 percent leased to a law firm and ENT For Children, a medical practice. Realty Capital’s Chad O’Neal represented the buyer in the transaction. Gateway Plaza is approximately 50 percent built out.
TYSON'S CORNER, VA. — The AFL-CIO Building Investment Trust (BIT) has purchased the Tyson's East Office Portfolio from an undisclosed seller for $138.5 million in an off-market transaction. The portfolio contains five adjacent buildings on 16.8 acres, including two office buildings and three data centers. The site also offers future development rights for approximately 1.8 million square feet of residential or mixed-use space.