FT. COLLINS, COLO. — 314 East Mountain LLC has purchased an 11,600-square-foot office condo, located at 200 South College Ave. in downtown Fort Collins, from Front Range Land Resources for $1.35 million. Chrisland Commercial Real Estate’s Ryan Schaefer and Jake Hallauer were the listing brokers; Bill Reilly of Sperry Van Ness/The Group Commercial LLC also assisted in closing the transaction.
RICHMOND, VA. — Marcus & Millichap Capital Corp. arranged a $9.3 million refinancing with a CMBS lender for a 153,000-square-foot, two-property office portfolio in Richmond. The loan is for 10 years, amortized over 30 years with a fixed interest rate of 6.3 percent. Jerry Kray of Marcus & Millichap's New York office arranged the financing.
OAK BROOK, ILL. — A.M. Castle & Co. has selected McShane Construction Co. for the design/build construction of its 38,638-square-foot office suite at 1420 Kensington Road within The Crossings in Oak Brook. The specialty metals and plastics company is relocating from Franklin Park, Illinois. Archideas Inc. is providing architectural services for the project, which is scheduled for completion in April.
PHILADELPHIA — Renovations are under way at 1650 Arch Street, a 27-story office tower located at the corner of 17th and Arch Streets in Philadelphia. The project, which is being overseen by Jones Lang LaSalle, includes renovations to the lobby, new building signage and upgraded interior finishes. The lobby will include new artwork made from recycled toys, a large seating area and abundant natural light. Meyer Design is the project architect, and Lakash Constructors is the construction manager.
CORAL SPRINGS, FLA. — Ivy Heron Bay purchased the note for 89,114-square-foot Heron Bay Corporate Center I & II, a two-building Class A office campus totaling , located at 11555-11575 Heron Bay Blvd. in Coral Springs, for $10.85 million from Investor's Warranty of America. Scott O'Donnell, Dominic Montazemi, Marty Busekrus, Miguel Alcivar and Chris Lee of CB Richard Ellis in Boca Raton brokered the sale on behalf of the buyer and the seller.
BRISTOL, TENN. — Scottsdale, Ariz.-based Healthcare Trust of America, acquired The Sapling Grove Professional Building and the Bristol West Medical Office Building, which total approximately 120,000 square feet, in Bristol for $23.37 million. The portfolio, known as the Holston portfolio for the buildings' anchor tenant, is approximately 99 percent leased. The CB Richard Ellis Atlanta office represented the seller, who was undisclosed.
AUSTIN — Crimson Real Estate Fund, L.P., and its co-investment partner, USAA Real Estate Co., have acquired the Aspen Lake office building located in northwest Austin from Wells Fargo Bank. Aspen Lake is a four-story, 205,000-square-foot Class A office building located near the intersection of U.S. Highway 183 and State Highway 45. Leasing services will be provided by AQUILA Commercial, LLC, under the direction of Crimson Services, LLC, an affiliate of Crimson Real Estate Advisors, L.P. Crimson Services will also provide property management services.
JACKSONVILLE, FLA. — Atlanta-based ARA has announced the opening of its 22nd office, located in Jacksonville. Matt Wilcox, former director of acquisitions for Julian LeCraw/JLC Southeast, has joined ARA as Vice President and will be based in the Jacksonville office. While at Julian LeCraw/JLC Southeast, he sourced and managed the acquisition of more than $100 million in conventional and student housing assets.
ORLANDO, FLA. — Event Productions, Inc. leased a 30,000-square-foot warehouse at 1930 Commerce Oak Ave. in Orlando. The 6-year lease was negotiated by Lee Morris and Jared Bonshire of the Orlando-based Cushman & Wakefield of Florida, Inc. on behalf of the landlord, Princeton Oaks, F.L., LLC. Greg Stake of Commercial Realty of Central Florida acted on behalf of Event Productions.
DOWNERS GROVE, ILL. — Opus Development Corp. has completed the disposition of Highland Landmark V office building in Downers Grove. Highland V-CPF LLC purchased the property for an undisclosed price. The eight-story, 251,235-square-foot, multi-tenant office building is located within Highland Landmark Office Park, which is located at the corner of Interstate 88 and Highland Avenue. The building is occupied by DeVry Inc. and Dover Corp.