FT. LAUDERDALE, FLA. — Marshall Smith of Coral Gables, Fla.-based Thomas D. Wood and Company secured $2.1 million in financing for Southern Center Associates I, a 24,000-square-foot multi-tenant office located at 1500 Cordova Road in Ft. Lauderdale, Fla., through Southern Farm Bureau Life. The 10-year loan, which is based on a 25-year amortization and an interest rate of 5.15 percent, was secured by the buyer to lock in a low interest rate.
NEW PROVIDENCE, N.J. — Marcus & Millichap has completed the sale of The Provident Bank Building, a 7,210-square-foot office property located in New Providence, for $1.83 million. Greg Babaian of Marcus & Millichap's New Jersey office represented the seller, a local investor. Michael Lombardo and Christopher Rizzolo, also of Marcus & Millichap, secured the buyer, a New York investor.
WOODRIDGE, ILL. — Premier Design + Build Group is serving as design/build contractor for the construction of Navistar's 65,531-square-foot office and training facility build-out in Woodridge. The tenant improvement project consists of 16,604 square feet of office space, which includes training, team, conference rooms and private open offices, and a warehouse/shop area including a photography studio, compressed air distribution system and vehicle exhaust track system with epoxy floors throughout. Bridge Development Partners owns the property. Cornerstone Architects providing architectural services for the project, which is slated for completion in April.
SPRINGFIELD, MASS. — Holyoke, Mass.-based Infinity Real Estate Group has brokered the sale of a three-story, fully leased office building located at 55 State St. in Springfield for $1.13 million. The buyer was Briarwood Thirteen LLC and the seller was Fifty Five State Street LLC. Mark Berezin of Infinity represented the seller in the deal and helped the buyer arrange acquisition financing through Holyoke Credit Union.
ROCKVILLE, MD. — An undisclosed professional services firm has signed a 97,910-square-foot, 12 month lease at Class A, LEED-Certified Redland Corporate Center II in Rockville. Redland II is owned by Bethesda, Md.-based First Potomac Realty Trust, who acquired the property in 2010. Washington, D.C.-based Perseus Realty also retained a minority ownership position. This lease brings Redland II to 52 percent leased. The tenant was represented by Greg Lubar and Jim Cahill of Jones Lang LaSalle's Bethesda office. First Potomac was represented by David Machlin, Larry Thau and James Cahill of CB Richard Ellis' Bethesda office.
FARMINGTON HILLS, MICH. — Southfield, Mich.-based Bernard Financial Group has arranged a $3.6 million loan for Haggerty Pointe Office in Farmington Hills. The 45,226-square-foot office building is owned by Haggerty Pointe Office LLC, also the borrower. Dennis Bernard and Kevin Kovachevich of Bernard Financial originated the loan.
DALLAS — Durham, N.C.-based Rosemont Realty has acquired two Class A high-rise office buildings in Dallas — Eighty-Eighty Central and 9400 North Central Expressway. Eighty-Eighty Central is a 17-story, 290,921-square-foot Class A office building located in the heart of the Dallas North Central Expressway, while 9400 North Central Expressway is a 16-story Class A office tower situated on more than 5 acres on Central Expressway, between Park and Walnut Hill lanes. Los Angeles-based Younan Properties sold the two office buildings.
FAIRFAX, VA. — The 214,214-square-foot One Fair Oaks office building located in Fairfax, was sold to First Potomac Realty Trust for $60.25 million or $281 per square foot. The building is 100 percent leased. Paul Collins, Bill Collins, Drew Flood, James Cassidy and Jud Ryan of Cassidy Turley's Washington D.C. office represented the seller, an affiliate of Lehman Brothers Holdings. The buyer was not represented in the transaction.
FARMINGTON HILLS, MICH. — Canada-based TSA Acquisition Corp. has purchased Bond Office Building complex, which is located at 31600-31700 W. Thirteen Mile Road in Farmington Hills. The 44,790-square-foot complex was listed at $1.77 million, however the acquisition price was not released. At the time of closing, the property was 70 percent leased. Garrett Middlekauff and Mason L. Capitani of L. Mason Capitani represented the buyer in the transaction. The seller was not released.
CHICAGO — Summit Design + Build has completed a 4,000-square-foot build-out at 626 West Jackson Boulevard for Chicago-based Sterling Bay Companies. The office build-out project included private offices, open offices, conference rooms, an open meeting room, a break room and a reception area. Additionally, the new office features glass walls ceramic tile, modern light fixtures and open ceilings. Fitzgerald Earles Architects & Associates provided architectural services for the project.