Office

HFF SECURES $35 MILLION OFFICE REFI

by admin March 29, 2011

WALTHAM, MASS. — Holliday Fenoglio Fowler (HFF) has secured a $35 million loan to refinance an office/R&D building located in Waltham. The two buildings contain a total of 200,928 square feet of space and are located at 50 and 60 Sylvan Road within the Reservoir Woods East Campus. Verizon Laboratories is the sole tenant of both buildings. Amenities include a full-service cafeteria, a conference center and an on-site credit union. The borrower is a joint venture between Prudential Real Estate Investors, The Davis Companies and Marcus Partners. The HFF team of Riaz Cassum and Greg LaBine arranged the loan.

March 29, 2011

JOINT VENTURE TAKES 291,480-SQUARE-FOOT OFFICE BUILDING IN D.C.

by admin March 28, 2011

WASHINGTON, D.C. — The Rockefeller Group has partnered with Mitsubishi Estate New York to acquire 1101 K Street Northwest in Washington, D.C. A joint venture between JBG Companies and Rockwood Capital sold the Class A office for an undisclosed price. Built in 2006, the 10-story, 291,480-square-foot property is currently 80 percent occupied. The property features a two-story lobby, 9- to 10-foot ceiling heights, floor-to-ceiling windows, a rooftop deck, a fitness center, state-of-the-art building systems, underground parking and a restaurant, Brasserie Beck.

March 28, 2011

Northeast Office

C&W ARRANGES $38M FOR CONN. OFFICE TOWER

by admin March 28, 2011

STAMFORD, CONN. — Cushman & Wakefield Sonnenblick Goldman has arranged a $38 million permanent locan for 1600 Summer St., a 261,000-square-foot, Class A office tower located in Stamford. The loan carries a 15-year term and was provided by a life insurance company. The borrower was Benenson Capital Partners, which also developed the property in 1980 and has owned it continuously since then. The office building is fully leased to three tenants: General Electric, Philips Electronics and AON Corp.

March 28, 2011

Office Texas

ACCENTCARE MOVES HEADQUARTERS TO DALLAS

by admin March 28, 2011

DALLAS — AccentCare, a home healthcare company, is relocating its corporate headquarters from Irvine, Calif., to Dallas. The company has signed a lease for nearly 33,000 square feet at Briargrove Pl., a Class A office property owned and managed by Crown Sterling Properties at 17855 N. Dallas Pkwy. in Dallas. Brian Griggs and Tom Dyer handled the transaction for Crown Sterling Properties, while Steve Jarvie of Jones Lang LaSalle represented AccentCare.

March 28, 2011

Midwest Office

12,500-SQUARE-FOOT OFFICE PROPERTY SELLS IN ILLINOIS

by admin March 25, 2011

AURORA, ILL. — Syndicated Equities has acquired a single-story office building in Aurora for an undisclosed price. Located at 1325 N. Lake St., the 12,500-square-foot property is fully occupied by the Social Security Administration. Additional terms of the transaction were not released.

March 25, 2011

Northeast Office

DEERWOOD ARRANGES $50 MILLION LOAN FOR CENTRE MARKET

by admin March 25, 2011

NEWARK, N.J. — Deerwood Real Estate Capital has arranged a $50 million loan for the Centre Market building, a 380,000-square-foot office building located in Newark. The building, which has the Energy Star designation, is 90 percent leased to the federal government. The loan was arranged by Deerwood's Abe Katz and carries a 7-year term.

March 25, 2011

Northeast Office

PEPSI EXPANDS N.Y. OFFICE BY 180K SF

by admin March 25, 2011

SOMERS, N.Y. — Pepsi Beverage Co., the bottling division of PepsiCo, has expanded its lease at One Pepsi Way in Somers by 180,000 square feet. The company will now occupy all of the nine-story, 540,000-square-foot office building. The CB Richard Ellis team of Paul Jacobs and Robert Caruso represented Pepsi in lease negotiations. Glenn Walsh and Arthur Mirante of Cushman & Wakefield partnered with Allen Wieder of Paul Weiss to represent the landlord, Murray Hill Properties.

March 25, 2011

Office Western

CASSIDY TURLEY BRE COMMERCIAL HANDLES $1.3 MILLION SALE OF OFFICE CONDOS

by admin March 25, 2011

SAN DIEGO — Cassidy Turley BRE Commercial has facilitated the $1.3 million sale of two office condominiums, located at 11189 Sorrento Valley Road within Venture Sorrento Office Park in the Sorrento Valley area of San Diego. A subsidiary of PacVentures, PV Venture Sorrento LLC sold units 104 and 105 totaling 6,204 square feet to the Del Mar Union School District for use by its facilities department. Cassidy Turley BRE Commercial’s Phillip Linton represented the seller in the transaction, and Colliers International’s Chuck Wasker and Mark Kagan of Tenant Rep Real Estate represented the buyer.

March 25, 2011

Office Southeast

$70 MILLION OFFICE REDEVELOPMENT PLANNED IN CRYSTAL CITY, VA.

by admin March 24, 2011

CRYSTAL CITY, VA. — Los Angeles-based Lowes Enterprises is planning a $70 million redevelopment project for 1400 Crystal Drive in Crystal City. The 300,000-square-foot building, which is part of the 550,000-square-foot Jefferson Plaza complex, will be redeveloped into a modern Class A office property. Slated to begin in early 2012, the project will include relocating the building lobby to Crystal Drive and on-site amenities, including a rooftop terrace, a fitness center and a concierge. Additionally, the building will be retrofitted with modern mechanical systems. Fox Architects is providing architectural services for the project.

March 24, 2011

Northeast Office

METROPOLE SECURES $175 MILLION FOR 681 FIFTH AVENUE REFINANCE

by admin March 24, 2011

NEW YORK CITY — Metropole Realty Advisors has secured $175 million for the refinance of 681 Fifth Avenue, a 17-story office tower located in Manhattan. The financing consists of a $150 million, fixed-rate, senior loan provided by Ladder Capital Finance and a $25 million mezzanine loan provided by Malkin Strategic Capital. Proceeds will be used to pay off existing debt and fund the completion of pre-built offices on some of the floors.

March 24, 2011

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