Office

43,445-SQUARE-FOOT LEASE SIGNED AT SEMORAN COMMERCENTER IN FLORIDA

by admin March 3, 2011

MAITLAND, FLA. — ADT Security Services and Simplex Grinnell, two wholly owned subsidiaries of Tyco International Ltd., have signed a 10-year lease at 6830 Shadowridge Dr. The companies will jointly occupy 43,445 square feet of space at Semoran CommerCenter at Orlando International Airport, a 190,100-square-foot Class A office/flex facility in Maitland. Ray Romano of CB Richard Ellis represented the tenants; Robert Blackwell of NAI Realvest represented the landlord/development team. The facility is being developed by Bavar Properties Group and NAI Realvest.

March 3, 2011

CORNWELL CORP. PURCHASES 73,000-SQUARE-FOOT OFFICE BUILDING

by admin March 3, 2011

PARSIPPANY, N.J. — Cornwell Corp. has purchased a 73,000-square-foot office building located within Morris Corporate Center in Parsippany for $5.25 million. The seller was EBI LLC. Cornwell plans to relocate is corporate office and the offices of one of its subsidiaries, Edifice Information Management, to 22,000 square feet within the building. The company will also complete a capital improvements program. Jon Williams of Cushman & Wakefield's Morristown, N.J., office represented Cornwell in the deal. Williams will also lease the building's vacant space — currently totaling approximately 49,000 square feet. Robert Rudin and Andrew Schiffer of Cushman & Wakefield's East Rutherford, N.J., office represented the seller.

March 3, 2011

Office Western

WEBCOR SIGNS OFFICE LEASE AT BIZ PARK ON SAN FRANCISCO BAY WATERFRONT

by admin March 2, 2011

ALAMEDA, CALIF. — Webcor LP has committed to 37,663 square feet at The Waterfront at Harbor Bay, a 385,000-square-foot business park located at 1751 Harbor Bay Parkway just minutes from downtown Oakland. Webcor will occupy one entire floor at a 73,257-square-foot office building within the park, which consists of four two-story office buildings, one single-story office building and one distribution building. Cassidy Turley BT Commercial’s Brian Collins represented Webcor in the deal, and Ryan Hattersley of Cushman & Wakefield represented the landlord. Originally developed between 1996 and 2000 as a corporate campus, The Waterfront at Harbor Bay Business Park was acquired by BPG Properties Ltd. in 2006.

March 2, 2011

Midwest Office

16,974-SQUARE-FOOT OFFICE PROPERTY TRADES HANDS IN MICHIGAN

by admin March 1, 2011

WARREN, MICH. — Detroit Spectrum Painters has purchased a 16,974-square-foot office building in Warren for an undisclosed price. The company plans to relocate its commercial, industrial and residential painting business to the new facility, which is located at 27560 College Park Dr. Michael Grammatico of L. Mason Capitani CORFAC International represented the buyer in the transaction. The seller was not released.

March 1, 2011

Midwest Office

J.C. ANDERSON COMPLETES 72,000-SQUARE-FOOT OFFICE RENOVATION IN ILLINOIS

by admin March 1, 2011

WARRENVILLE, ILL. — J.C. Anderson has completed a 72,000-square-foot office renovation for BP in Warrenville. The energy company is relocating its offices to 28100 Torch parkway within Cantera II from 150 Warrenville Road. The renovation project included the complete demolition of the existing furniture and the construction of new offices, work stations and training rooms, including new carpeting and paint, as well as mechanical, electrical and plumbing modifications. Design Organization provided architectural services for the project.

March 1, 2011

Office Texas

KBS REIT II ACQUIRES TWO WESTLAKE PARK

by admin March 1, 2011

HOUSTON — KBS Real Estate Investment Trust II, a publicly offered, non-traded real estate investment trust, has acquired Two WestLake Park, a 17-story, 388,142-square-foot office tower in the Katy Freeway/Energy Corridor submarket of Houston. Developed by Hines in 1982, Two WestLake Park is part of the 58-acre Westlake Office Park, a master-planned complex of 2.3 million square feet of Class A office space in four buildings near the intersection of Interstate 10 and State Highway 6. Two WestLake Park features the private WestLake Club, a 67,000-square-foot members-only dining and athletic club located on the fifth and sixth floors of the parking structure. KBS Capital Advisors represented KBS REIT II, while Danny Miller and Trent Agnew of Holliday Fenoglio Fowler's Houston office represented the seller.

March 1, 2011

Office Texas

TELECHECK TAKES 120,000 SF AT GALLERIA PLAZA

by admin March 1, 2011

HOUSTON — Telecheck Services, which provides electronic check conversion services, has leased 120,458 square feet of office space at Galleria Plaza I, located at 5251 Westheimer Rd. in Houston. Galleria Plaza I and II is a 424,295-square-foot mixed-use property that consists of two Class A office buildings totaling 395,473 square feet. Scott Panzer and Steven Rotter of Jones Lang LaSalle's New York office and David Bale and Ronnie Deyo of the firm's Houston office represented Telecheck. David Baker and Kelli Crutchfield of Transwestern's Houston headquarters represented the landlord, Chase Merritt Four Corners LLC.

March 1, 2011

Office Western

HFF ARRANGES $10.25 MILLION REFINANCE OF TWO-BUILDING OFFICE COMPLEX

by admin March 1, 2011

SEATTLE — Holliday Fenoglio Fowler LP has secured $10.25 million in refinancing for Eastlake Center I and II, a two-building office complex located at 2815-2825 Eastlake Avenue E in Seattle. Fronting Lake Union, the development totals more than 84,000 square feet and includes the University of Washington and the Washington Research Foundation as tenants. On behalf of The Blume Co., HFF, led by Casey Davidson and Tom Wilson, placed the 10-year, fixed-rate loan with Goldman Sachs Commercial Mortgage Capital LP. Loan proceeds are refinancing a maturing CMBS loan.

March 1, 2011

Midwest Office

BERNARD FINANCIAL ARRANGES $5.4 MILLION OFFICE LOAN IN MICHIGAN

by admin February 28, 2011

STERLING HEIGHTS, MICH. — Bernard Financial Group has arranged a $5.4 million loan for the Sterling Town Center in Sterling Heights. The property offers 125,723 square feet of office space. The borrower was Sterling Limited Partnership. Dennis Bernard and Kevin Kovachevich of Bernard Financial originated the loan, which was financed by Symetra Life Insurance Co.

February 28, 2011

Northeast Office

JV ACQUIRES $33 MILLION OFFICE CONDO IN MANHATTAN

by admin February 28, 2011

NEW YORK CITY — A joint venture between Metropolitan Realty Associates, Belvedere Capital and Angelo Gordon & Co. has purchased a 150,000-square-foot office condo for $33 million. The condo comprises the first eight floors of a 20-story building located at 15 E. 26th St. in Manhattan. The condo was 55 percent leased at the time of closing. Douglas Harmon of Eastdil Secured represented the seller, a joint venture between a Deutsche Bank investment fund and Walter & Samuels. The latter party reinvested with the buyers in the deal.

February 28, 2011

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