ST. PETERSBURG AND TAMPA, FLA. — CB Richard Ellis (CBRE) Capital Markets has brokered the sales of more than 685,000 square feet of office space in the Tampa Bay area. In St. Petersburg, a joint venture of affiliates of Second City Capital Partners, Feldman Equities and Tower Realty Partners acquired City Center, a two-building 242,115-square-foot office campus, for $16.5 million or $68 per square foot. Don Jennewein of CBRE's Debt & Equity Group secured bridge loan financing on behalf of the buyer. In Tampa, CBRE represented a joint venture consisting of affiliates of Trigate Capital, Feldman Equities and Tower Realty Partners in the acquisition of Fountain Square II, a 134,065-square-foot office building. Additionally, on behalf of Wells Fargo, CBRE arranged the $12 million sale of Independence Park, a 43.81-acre multi-building development site, which includes an existing 116,723-square-foot office building. The property is a fully entitled Development of Regional Impact, which can support up to 524,000 square feet of additional office space. In Mid-Pinellas County, CBRE, on behalf of Midland Loan Services, arranged the sale of 16120 U.S. Highway 19, a 192,106-square-foot office building, to St. Petersburg-based The Cypress Company. CBRE's marketing team was led by Dale Peterson and Paul Carr …
CHICAGO — Environmental Systems Design (ESD) has been selected to design Server Farm Realty's new 440,000-square-foot data center/electronic trading facility in Chicago's South Loop. Located at 840 S. Canal St., the facility will offer an electronic trading environment of 30 watts per square foot with more than 150,000 square feet of data center space designed at 150 watts per square foot. The facility will be supported by more than 32 megawatts of power and will be backed up by more than 20 2,500-kilowatts generators. Additionally, the facility has a floor load of 225 pounds per square foot. The new facility will be ready for occupancy in September.
SACRAMENTO, CALIF. — NBS Financial Services has arranged a $16 million loan for the 149,000-square-foot Granite Park Regional, a single-tenant office building occupied by the County of Sacramento. NBS’s Ken Griggs and Paddy Ryan arranged the 12-year, fixed-rate loan through correspondent life-insurance company lender, ING Investment Management.
SANTA ROSA, CALIF. — Appian Capital and Presidio Development Partners LLC have acquired the 70,000-square-foot Parkpoint Business Center, a five-building office complex located just west of downtown Santa Rosa, the largest city in Northern California’s “Wine Country.” With plans to renovate the property’s outdoor common areas, building exteriors and signage, the joint venture will market the individual buildings, located within the Santa Rosa Business Park, to both owner/users and as leased investments. Cushman & Wakefield represented CW Capital, the seller of the 60 percent-leased property and loan servicer that foreclosed on the property in June 2010.
TAMPA, FLA. — Feldman Equities has acquired a 134,065-square-foot multi-story office building in Tampa for $16 million. The San Diego, Calif., office of ARG Capital Partners arranged the joint venture equity for the acquisition. Bryan Clark of ARG secured the financing.
SCHAUMBURG AND LISLE, ILL., AND FARMINGTON HILLS, MICH. — Holliday Fenoglio Fowler (HFF) has secured $69 million in refinancing for a five-building office portfolio totaling 1.08 million square feet in Illinois and Michigan. The properties include the 266,886-square-foot Centennial Center in Schaumburg; the 212,212-square-foot One Century Center in Schaumburg; the 219,718-square-foot Two Century Center in Schaumburg; the 150,036-square-foot Lisle Executive Center in Lisle; and the 236,921-square-foot TRI-ATRIA in Farmington Hills. Michael Kavanau, Tim Joyce and Trent Niederberger of HFF represented the undisclosed borrower in the transaction. The loan was funded by Prime Finance.
BUFFALO, N.Y. — Cole Real Estate Investments has purchased a Class A office property in Buffalo from Duke Realty Corp. for $84.5 million. The property comprises a six-story tower and an eight-story tower connected by a seven-story atrium. It has LEED-Silver certification and contains 1,600 parking spaces. It was constructed in 2007 and 2008 as a build-to-suit for HealthNow New York, which operates as BlueCross BlueShield of Western New York and BlueShield of Northeastern New York. The tenant has 13.5 years remaining on its lease with four 5-year renewal options. Boyd Messmann provided in-house representation for Cole. Joe Garibaldi of Jones Lang LaSalle represented the seller, with additional assistance provided in-house by Duke's Whit Annibali.
DALLAS — The 255,378-square-foot CompuCom world headquarters campus, located at 7171 Forest Ln. in Dallas near the intersection of Forest Lane and Central Expressway, has changed hands. W.P. Carey & Co.'s (NYSE:WPC) non-traded REIT affiliates, CPA®:14 and CPA®:15 have sold the property to Optima Ventures for an undisclosed price. The office property is situated on nearly 20 acres and includes an eight-story, 162,138-square-foot office building and a three-story, 93,240-square-foot data center facility. Both buildings are fully leased on a triple net basis to CompuCom, an IT outsourcing company. Holliday Fenoglio Fowler (HFF) represented the seller.
BERKELEY, CALIF. — Grubb & Ellis has negotiated Strada Investment Group’s $15 million acquisition of the 131,694-square-foot Berkeley Crossing, a Class A office building located at 1608 4th St. in Berkeley. Strada purchased the note, originally valued at $28 million, and worked with both the lender, New York Life Investment Management LLC, and the previous owner to take ownership of the property in a deed-in-lieu-of-foreclosure transaction. Grubb & Ellis’ Steve Golubchik and Nicholas Bicardo represented the buyer in the deal. Renovated in 2000 and approximately 30 percent leased at closing, the property is designed for technology use and includes a roof deck that provides views of the surrounding Bay Area and East Bay Hills.
BEAVERTON, ORE. — Marcus & Millichap has negotiated the more than $2.15 million sale of Twin Oaks Executive Center, a 14,829-square foot office property located at 1865 NW 169th Place in Beaverton. The transaction involving the multi-tenant, two-story office building was negotiated by the brokerage firm’s Ryan O'Leary.