RICHARDSON — Ericsson, a provider of telecommunications equipment and related services, has signed two lease agreements for approximately 260,000 square feet to add to the 200,000 square feet it already occupies in the former Nortel campus at 2201-2221 Lakeside Blvd. in Richardson's Telecom corridor. Mike Wyatt and Ken Johnston of Cushman & Wakefield represented Ericsson, while Manny Ybarra represented Pillar Commercial, the landlord, internally. Ericsson now occupies 460,000 square feet of the two buildings' approximately 800,000 square feet. Pillar Commercial purchased the complex out of bankruptcy on June 3, 2011.
Office
HOUSTON — Steve States of States Mortgage Co. has arranged an $8.65 million loan for the refinance of a 63,000-square-foot medical office building property in Houston. The borrower, a group of physicians, developed the property in 2006. States Mortgage Co. secured the 10-year fixed-rate loan with a sub 5 percent interest rate through one of its bank lending sources.
PHOENIX — CB Richard Ellis has sold two low-rise office buildings in Phoenix for $5.85 million. The first is a four-story, 154,016-square-foot building located at 18444 N. 25th Ave. The multi-tenant building is 36 percent occupied. The second is a 5,070-square-foot office building that is located at 18456 N. 25th Ave. CBRE's Barry Gabel, Mindy Korth, Bob Young, Glenn Smigiel, Steve Brabant, Rick Abraham, Ashley Brooks and Jim Bayless represented the seller, Trisail Funding, which had acquired the property through foreclosure. The buyer was Phoenix North 25th Avenue LLC.
LOS ANGELES — Jones Lang LaSalle has negotiated a lease renewal for 71,981 square feet of office space at Ernst & Young Plaza for Lockton Insurance Brokers, LLC. Ernst & Young Plaza is a 41-story, Class A office building in Downtown Los Angeles. Jones Lang LaSalle's managing director Tony Morales, senior vice president Christina Noonan and senior associate Maureen Hawley represented Lockton in the transaction. The landlord, EYP Realty, LLC, was represented in-house by John Barganski.
COLORADO SPRINGS, COLO. — Unique Properties, LLC – TCN Worldwide has sold a 20,500-square-foot office/flex building in Colorado Springs for $1,585,000. Located at 680 Garden of the Gods, the bank-owned building was acquired by Appliance Factory Outlet. Unique's John Sheflin, Marc Lippitt and Scott Shwayder represented the seller, Wells Fargo Bank.
AVENTURA, FLA. — Miami-based Aztec Group has arranged $35 million in acquisition financing for the One Turnberry Place, a 136,400-square-foot, Class A office building located at 19495 Biscayne Blvd. in Aventura. Tenants include Morgan Stanley, Merrill Lynch, Bank Leumi USA, Chase Bank, Fidelity Investments, Brody & Associates and Ameriprise Holdings. The 10-year financing was provided by Credit Suisse/Column Financial for the buyer, OTP Capital, an affiliate of Aventura-based Triarch Investment Group.
AUSTIN — A 481,000-square-foot office and research-and-development building in Austin has entered the market listed at $49.9 million. The building, known as Domain 45, has been fully leased to IBM since 2000 and is located at 11400 Burnet Rd. in Austin. Grubb & Ellis is advising the seller, a partnership of wealthy individuals.
SPRINGFIELD, MO. — Gladstone Commercial Corp. has acquired a 78,421-square-foot office building located in Springfield for $15.9 million. The property was constructed as a build-to-suit for T-Mobile in 2006. The tenant currently has 10 years remaining on its lease with three 5-year renewal options. As part of the deal, Gladstone assumed the property's existing $11.6 million mortgage. The seller's name was not released.
OKLAHOMA CITY, OKLA., AND BIRMINGHAM, ALA. — On behalf of Stonegate Real Estate Investments, Jones Lang LaSalle (JLL) secured $70 million for the refinancing of two Class A office properties in Oklahoma City and Birmingham. The properties include the 298,510-square-foot Quail Springs Parkway Plaza in Oklahoma City and the four-building, 4,000-acre mixed-use Urban Center Office Portfolio in Birmingham. Wells Fargo provided the two 10-year, fixed-rate senior mortgage notes. Tom Melody of Jones Lang LaSalle’s Houston office led the Jones Lang LaSalle team.
SOUTHLAKE — An affiliate of Dallas-based Realty Capital Corp. has arranged the sale of a 3,200-square-foot building in its Miron Grove Office Park, located on Miron Drive in Southlake, to a medical imaging physician’s group. The seller, RCC Miron Office, was represented by Mark Boone with Realty Capital Corp.