ATLANTA — Meritex Enterprises has acquired a ten-building office/warehouse portfolio in Atlanta. The Class A, multi-tenant properties total 726,000 square feet and range in size from 41,000 to 122,000 square feet. The properties are located in the northern suburbs of Atlanta, including Lawrenceville, Norcross, Smyrna and Kennesaw, Ga. The portfolio is currently 95 percent leased with 40 tenants. The seller was Young Ventures and The Estate of Maxwell W. Young. The acquisition price was not released.
Office
COLUMBIA, MD. — Lund Trading has acquired 6822 Oak Hall Lane, a 40,000-square-foot flex/office building in Columbia. Oak Hall LLC sold the property for $3.7 million. The buyer plans to relocate to its office and distribution operations into approximately 25,000 square feet of the new facility. The balance of the building has been leased to Looks Salon and Spa. Allan Riorda of NAI KLNB represented the buyer; Chuck Breitenother and Tim Gardner, also of NAI KLNB, represented the seller in the transaction.
CASCADE TOWNSHIP, MICH. — The Hinman Company has acquired 3040 Charlevoix Drive SE, an office building in Cascade Township, for an undisclosed price. The buyer plans to renovated the two-story, 38,919-square-foot building and modernize the commons areas. Once renovated the building will accommodate any office tenant from 9,000 square feet to the entire building. Terms of the transaction were not released.
BELLEVUE, NEB. — Bob Chalupa of Q10|Daisley Ruff Financial has arranged a $3.36 million loan for an office property in Bellevue. The non-recourse financing carries a 5.25 percent rate and a 10-year term on a 25-year amortization schedule.
EL SEGUNDO, CALIF. — Lucent Capital has arranged $20.75 million in refinancing for a 200,000-square-foot office complex located in El Segundo. The non-recourse, 5-year, fixed-rate loan was provided by CorAmerica Capital LLC, and the borrower was represented by Greenberg Glusker’s Bob Baradaran. The owner-occupied office complex consists of six-story, three-story and single-story office buildings.
DENVER — Fleisher Smyth Brokaw LLC has sold a 45,375-square-foot office building, located at 7010 Broadway in Denver, to OIA Capital Services LLC for more than $2.9 million. Cassidy Turley Fuller Real Estate’s John Becker and Mike Haley represented the seller in the transaction.
RIDGELAND, MISS. — Jackson, MIss.-based Concourse 200 & 400 Holdings, an affiliate of Duckworth Realty, has acquired two multi-tenant Class A office properties in Ridgeland. Totaling 95,000 square feet, the properties are located at 1062 and 1068 Highland Colony Parkway. Current tenants at the properties include BankPlus, GranthamPoole CPA, Marchetti Robertson & Brickell Insurance & Bonding and The Wright Law Firm. Duckworth Realty will manage and lease the properties. Terms of the transaction were not released.
CHICAGO — NorthMarq Capital has arranged a non-recourse first mortgage of $25 million for 300 West Adams, an office building in Chicago. The 12-story building offers 253,000 square feet of office space. Major tenants at the property include Teach for America, Illinois Criminal Justice, Vibes Media and PNC. Financing terms for the loan were not released. Jeff Cherner of NorthMarq's Chicago Regional office arranged the financing.
BURLINGTON, VT. — Jones Lang LaSalle (JLL) has completed the sale of a 24,192-square-foot office property in Burlington for $4.56 million. The three-story building is situated on 3.45 acres at 302 Mountain View Drive. It is part of the 12-building The Office Park at Water Tower Hill. Occupancy at 302 Mountain View is 100 percent. Tenants include Verizon Wireless, AT&T, New England Life Insurance and Keller Williams. JLL's Michael Smioth, Scott Jamieson and Brandon Dickason arranged the deal between the seller, Stonewater Partners, and the buyer, Legacy Mountain View LLC. Steve Donahue of Donahue & Associates assisted in the deal.
SAN FRANCISCO — With an assist from its retail division, Cassidy Turley BT Commercial has negotiated the approx. $10.63 million sale of two office buildings located at 144-154 and 156-160 2nd Street in San Francisco. The brokerage firm’s David Klein and Jennifer Essner and Terranomics’ Mark Koenig and John Schaefer represented Patelco Credit Union in its disposition of the properties — a 24,480-square-foot building and a 28,361-square-foot building — to New Urban Properties LLC.