ATLANTA — North Highland has signed a 69,922-square-foot lease at the 564,000-square-foot, Class A Terminus 200, a mixed-use building in Atlanta. The lease brings the building to 84 percent occupied. North Highland, currently located at 550 Pharr Rd. in Atlanta, plans to relocate by November, bringing its two affiliates, Sparks Grove and TrueBridge Resources, to the newly leased space as well. Terminus 200 is owned by Cousins and Morgan Stanley.
Office
MIAMI — CB Richard Ellis Capital Markets has arranged $23 million permanent financing for the 114,610-square-foot, Class A office building Dadeland Centre II, located in Miami. Terms of the fixed-rate financing include a 5-year term and 30-year amortization. The CBRE team of Charles Foschini, Christian Lee and Christopher Apone arranged the financing through JP Morgan Chase Bank on behalf of Dadeland Centre II, Ltd.
NEW YORK CITY — Oppenheimer & Co. has renewed its lease for 90,000 square feet within the MetLife Building, located at 200 Park Ave. in Manhattan. The firm's Wealth Management groups will continue to occupy the 24th and 25th floors of the 58-story, Class A tower on a long-term basis. The Cushman & Wakefield team of Matthew Astrachan, Steven Bauer and Mitchell Konsker represented the tenant in lease negotiations. The landlord, Tishman Speyer, was represented in-house by Megan Sheehan.
HOWARD COUNTY, MD. — A joint venture between St. John Properties and Greenebaum & Rose Associates has formed to develop 570,000 square feet of office space in five multi-story buildings along Maple Lawn Boulevard in Howard County. Additionally, the joint venture will share ownership of four multi-story office buildings, which total 385,000 square feet, one of which is still under construction. With the new agreement, St. John Properties assumes the rights to co-own, lease and manage up to 15 buildings on 60 acres of land at Maple Lawn, totaling more than 1.2 million square feet of office, flex and retail space. This is the fourth joint venture for the companies.
NEW YORK CITY — Blackstone Group has acquired the senior and mezzanine loans secured by the leasehold interest in a Manhattan office tower for $98.25 million. The property is a 22-story, 236,000-square-foot, Class A tower located at 1140 Avenue of the Americas. The seller was a bank consortium led by Landesbank Baden-Württemberg. The Holliday Fenoglio Fowler team of Andrew Scandalios, Whitney Wilcox and Jeffrey Julien represented the seller.
NEW YORK CITY — Savanna Fund II REIT has acquired the senior mortgage loan for 80 Broad Street, a 36-story, 410,000-square-foot office tower located in Manhattan. A partnership led by Swig Equities acquired the building in 2004 and took out a $75 million senior mortgage loan in 2006 following extensive renovations. The Cushman & Wakefield team of Steve Kohn Helen Hwang, Nat Rockett, Karen Wiedenmann and Alex Hernandez represented the seller and special servicer, J.R. Robert Companies Inc.
SALEM, N.H. — Integrated Builders has completed the build-out for Comcast's Maine/New Hampshire office in Salem. The telecommunications provider occupies 104,000 square feet at 9 Northeastern Blvd. The build-out included installing drop ceiling, vinyl composite tile flooring, and HVAC and fire protection systems in the facility's testing room.
COPPELL — JP Morgan Chase Bank has leased Freeport IV, a 125,103-square-foot office and call center located at 1111 Northpoint Dr. in Coppell, from Duke Realty Corp. It will use the building for its mortgage operations, consolidating several other call center operations into the facility this August. Freeport IV is one of 13 buildings in Duke Realty's Freeport North development just off Interstate 635 and Texas State Highway 121 in Coppell. Paul Whitman and Russell Cosby of Jones Lang LaSalle represented JP Morgan Chase Bank in the transaction.
LOUISVILLE, KY. — Construction has begun for a 125,000-square-foot, Class A office building located at 600 North Hurstborne in Louisville. The building is being developed by a joint venture between NTS Development Co. and University of Louisville Development Co. The four-story building was designed by architect KlingStubbins. The construction manager on the project is Messer Construction.
PARSIPPANY, N.J. — Grosvenor Investment Management has leased a 150,500-square-foot building located at 299 Jefferson Road in Parsippany to Evonik Degussa Corporation. The speciality chemicals manufacturer will use the property as its North American headquarters. Vision Equities represented the landlord in lease negotiations. The building is in the process of a renovation, which includes common area improvements, a new fitness center, a roof replacement and updated building systems.