NEW YORK CITY — A joint venture between DMR CRE Opportunity Fund I LP and CTNY Investors has purchased 70,000 square feet of Class A office space at The Setai Wall Street, located at 40 Broad St. in New York City. The condominium comprises four commercial floors.
RICHARDSON — KDC, a commercial real estate and investment firm based in Dallas, has acquired two corporate offices and a warehouse, a total of 460,000-square-feet, from Fossil, a design, marketing and distribution company. The offices and warehouse are located in Richardson. “We see the purchase of the Fossil buildings as another great redevelopment opportunity. There is tremendous potential with the buildings,” said John Brownlee, KDC senior vice president. KDC will unveil its redevelopment plans for the sites once they’re vacated later this year. The offices sit at 2280 N. Greenville and 2323 N. Central and the warehouse sits at 2155 Campbell Creek.
CHICAGO — Farbman Group has acquired the Randolph-Wells Building, a 23-story, Class C office building located at 204 West Randolph in Chicago's West Loop. Constructed in 1928, the tower is occupied by tenants that include Kaplan Educational Center; tenants at the building's street-level retail space include Baskin-Robbins and Dunkin Donuts. The building has recently undergone renovations that include a new roof and elevator upgrades. The seller's name was not released.
CAMBRIDGE, MASS. — Pegasystems has signed a 163,000-square-foot lease at the 252,000-square-foot One Rogers Street in Cambridge. The company will relocate its corporate headquarters from the current office at 101 Main St. in Cambridge. Roy Hirshland and Mark Cote of T3 Advisors represented the tenant in the transaction, and John Osten, Peter Berkarian and Dan Kollar of Jones Lang LaSalle's Boston office represented Principal Real Estate, the landlord.
HOUSTON — Eastbourne Park Row LP, an affiliate of Fuller Realty Partners LLC, has sold 16400 Park Row, a three-story, 85,701-square-foot office building in Houston’s Energy Corridor, to RiverOak Investment Corp. LLC for an undisclosed amount. Situated on approximately 4 acres immediately north of Interstate 10, 16400 Park Row is close to Highway 6. The property is fully leased to Kraton Polymers on a NNN basis with a remaining lease term of 10.3 years. Dan Miller and Martin Hogan of HFF (Holliday Fenoglio Fowler) represented the seller. The Los Angeles office of Wells Fargo provided acquisition financing at closing.
EL SEGUNDO, CALIF. – The Admiral Capital Real Estate Fund, which is a partnership between USAA Real Estate Company and Admiral Capital Group, has purchased a 119,626-square-foot office building in El Segundo for an undisclosed sum. The fund is targeting value-add opportunities in major markets across the U.S. Its ideal transaction size is $25 million to $100 million.
NEW YORK CITY — A 1.65 million-square-foot, 42-story office building, located at 1285 Avenue of the Americas in New York City, has received a $372 million refinancing. The building is jointly owned by AXA Equitable Life Insurance Co. and institutional investors advised by J.P. Morgan Asset Management. Whit WIlcox and Mike Tepedino of Holliday Fenoglio Fowler's New York City office secured the 10-year loan through MetLife Real Estate Investments.
HOUSTON – 712 Main Street, a 794,186-square-foot Class A office building in Houston’s central business district, has been financed with a non-recourse loan through Capital One Bank. Holliday Fenoglio Fowler (HFF) worked on behalf of an entity owned by Brookfield Real Estate Opportunity Fund (BREOF) to secure the loan. 712 Main Street is comprised of three towers situated on a full city block at the corner of Main and Capitol streets. Originally constructed in 1929, the property includes a historic 35-story art deco-style office building that is home to the Texas headquarters of JP Morgan Chase’s southwest banking operations. John Ahmed led the HFF team that secured the loan. BREOF is sponsored by Brookfield Asset Management, Inc., a global asset management company focused on the real estate, power generation and infrastructure sectors.
SCOTTSDALE, ARIZ. — MIG Real Estate has purchased Scottsdale Centre, a Class A office property that contains five two-story buildings and 164,300 square feet of space. Though terms of the sale were not disclosed, the previous owner had recently completed a $5.1-million property renovation. Jones Lang LaSalle's Don Mudd and John Bonnell represented the seller in the transaction. MIG Real Estate represented itself.
ALISO VIEJO, CALIF. — GPS and location-based software developer Telogis is relocating its world headquarters to 20 Enterprise Drive inside Aliso Viejo's Summit Office Campus. Telogis is relocating from 85 Enterprise Drive, which is also in the Summit Office Campus. The move, which will provide Telogis with 26,000 square feet of first generation space, should be complete this November. The firm was represented by UGL Services' vice president Drew Netherton, senior vice president Justin Hodgdon and senior associate Chris Houston, who are all out of UGL's Orange County office. Jake Stickel, first vice president in the Newport Beach office of CB Richard Ellis, represented Summit Office Campus' ownership group, Parker Properties.