PARSIPPANY, N.J. — CB Richard Ellis (CBRE) Capital Markets has arranged a $33 million acquisition loan for 100 Kimball Drive, a Class A office property located in Parsippany. The 175,000-square-foot building is fully leased to Deloitte. The financing carries a 5.25 percent fixed interest rate, 10-year term and a 30-year amortization schedule. The borrower was CBRE Realty Trust. James Gunning and Donna Falzarano of CBRE's New Jersey office partnered with John Clifford and Keith Huizinga of the firm's Chicago office to arrange the loan.
NEW YORK CITY — The New York Legal Assistance Group (NYLAG) has signed a sublease for 36,250 square feet of office space at 7 Hanover Square in Manhattan. The firm plans to relocate this summer from its current location at 450 W. 33rd Street. Gere Ricker of MB Real Estate represented NYLAG in lease negotiations. MB's Project Services group will also provide construction management services for the tenant fit-out. Joseph Harkins and Barry Lewen of Grubb & Ellis represented the undisclosed sub-landlord.
HOUSTON — A two-story, 31,926-square-foot office building located at 1075 Kingwood Dr. in Houston has sold for an undisclosed amount. Brookfield Real Estate Opportunity Fund, a division of Brookfield Asset Management, sold the property Eminent Realty Development Group. The office property sits on a 3.86-acre site at the entrance to the Kingwood master-planned community close to Highway 59 and the George Bush Intercontinental Airport in northeast Houston. Renovated in 2008, the property is 91 percent leased to tenants including JPMorgan Chase, McDowell Owens and Compass Anesthesia. Dan Miller and Trent Agnew of Holliday Fenoglio Fowler (HFF) represented Brookfield in the transaction.
FORT MYERS, FLA. — Jack's Place LLC recently purchased a 27,000-square-foot office building that will house Digital Data Destruction Services and eTriage. Located in downtown Fort Myers, the property offers 12 office spaces to lease. The two tenants will hire up to 15 employees at the new location. Bryan Myers and Bob Pekol of LandQwest Commercial represented the buyer and the undisclosed seller in the transaction. Terms of the acquisition were not released.
MUNCIE, IND. — RCS Holdings X LLC has acquired the 15,907-square-foot Riverview Square in Muncie. Located at 1107 S. Tillotson Ave., the multi-tenant office building sold for $1.05 million. Joseph DiSalvo and Matthew Deahl of Marcus & Millichap's Indianapolis office represented the seller, Riverview Square LLC, and the buyer in the transaction. The property was originally constructed in 1972 and completely rebuilt in 1995.
SANTA CLARA, CALIF. — CresaPartners has represented Tellabs Inc. in its 75,000-square-foot office lease at a 300,000-square-foot building located at 4555 Great America Pkwy. in Santa Clara. Terms of the deal were not disclosed. When the mobile technology company relocates next month to the six-story Class A office/R&D property, it will occupy approximately one quarter of the two-building, 600,000-square-foot office park. CresaPartners’ Scott Kinder represented the tenant in the transaction, and CB Richard Ellis’ Bob Steinbock, Christian Marent and Mark Christiersen represented the landlord, Prudential Insurance Co.
ALISO VIEJO, CALIF. — Represented by UGL Services, AVANIR Pharmaceuticals has agreed to relocate its corporate headquarters from 101 Enterprise to 20 Enterprise in Aliso Viejo. Terms of the deal were not disclosed. The publicly traded pharmaceutical company is scheduled to move approximately 60 employees into 29,790 square feet of space, located in a 118,000-square-foot Class A office building on the Summit Campus, at the start of third quarter. UGL’s Drew Netherton and Justin Hodgdon represented the tenant in the lease transaction, and CB Richard Ellis represented the property owner, Parker Properties LP.
ARLINGTON, VA. — The JBG Companies is developing 800 North Glebe, a 10-story office and retail building in the Rosslyn-Ballston Corridor in Arlington. Located at the corner of North Glebe Road and Wilson Boulevard, the 316,000-square-foot building will offer 30,000-square-foot floor plates and 28,000 square feet of retail space. Design and constructed to achieve LEED Gold certification, the property is scheduled for completion in March 2012. Project partners include Cooper Carry as base building architect, LSM as lobby designer and Clark Construction as general contractor.
OAK BROOK, ILL. — Allied Asset Management Ltd. has acquired an office building, located at 721 Enterprise Dr. in Oak Brook. The two-story, 12,497-square-foot building sold for $1.5 million or $120 per square foot. Situated on a 2-acre site, the property features approximately 350 feet of frontage on 22nd Street. The seller was Davis Chemical Corp. Chris Schramko of Schramko Real Estate brokered the transaction.
SCHAUMBURG, ILL. — J.C. Anderson has completed an office build-out in Schaumburg for a private insurance company. Located at 1375 E. Woodfield Road, the 18,000-square-foot project included the construction of new ceilings, work spaces, private offices and conference rooms, as well as data and training rooms. Featherstone Consulting Inc. provided architectural services for the project. J.C. Anderson was selected for the project by the property manager, Jones Lang LaSalle.