RICHARDSON — Fossil Partners, L.P., a worldwide designer and distributor of fashion accessories, has leased 535,000 square feet of office space at the southeast corner of Central Expressway and Spring Valley in Richardson. Formerly home to Blue Cross Blue Shield of Texas (BCBSTX), the office space became available when BCBSTX moved into new headquarters in March 2010. Fossil is consolidating its employees from its two Richardson corporate offices into its new space. It's also moving distribution operations currently located at 2155 Campbell Creek in Richardson to previously leased space. KDC, a commercial real estate and investment firm, has leased the 535,000 square feet at Central Expressway and Spring Valley to Fossil, and will purchase the other three buildings vacated by Fossil as part of the transaction.
Office
HOUSTON — Willbros United States Holdings, Inc., an oil and gas equipment and services provider, has signed an 87,212-square-foot office lease at Five Post Oak Park in Houston's Galleria submarket. Willbros extended its original lease for 10 years, expanding its size by 44,178 square feet. Tim Relyea, Joe Peddie and David Guion of Cushman & Wakefield of Texas represented Willbros, while Clint Bawcom and Brian McMackin of Cassidy Turley represented the landlord, Shorenstein Properties LLC. Five Post Oak Park is a 567,319-square-foot Class A office building located at 4400 Post Oak Pkwy.
SAN DIEGO — Jones Lang LaSalle has represented Legacy Partners in a 61,249-square-foot, more than $4 million lease transaction at Legacy Wateridge, a two- building, Class A office complex located at 10421 & 10431 Wateridge Circle in San Diego’s Sorrento Mesa submarket. Jones Lang LaSalle’s Chad Urie and Tim Olson represented the landlord in the 36-month lease renewal, and Matthew Miller and Chris Powers of CresaPartners represented the tenant, Wells Fargo.
FORT WORTH, TEXAS — Spire Realty Group has procured a $44 million loan for the acquisition of Two City Place, a 315,225-square-foot office tower located at 100 Throckmorton St. in Fort Worth. The property was built in 1976 and renovated in 2008. It was 82 percent leased at the time of closing to a tenant roster that includes Range Resources and First American Payment Systems. The loan carries a 5.72 percent fixed rate and a 5-year term. The lender was JP Morgan Chase Bank. The Holliday Fenoglio Fowler team of Wally Reid, Travis Anderson and Corby Chaffin represented Spire Realty.
MIAMI — Jones Lang LaSalle's Capital Markets team has secured a $60 million senior mortgage loan for LaSalle Investment Management (LIM) to finance the acquisition of Miami Tower in Miami. Located in downtown Miami, the 47-story tower was purchased in an all-cash transaction by LIM in December 2010. David Hendrickson and Chuck Hoag of Jones Lang LaSalle led the company's team in the transaction.
PARSIPPANY, N.J. — CB Richard Ellis (CBRE) Capital Markets has arranged a $33 million acquisition loan for 100 Kimball Drive, a Class A office property located in Parsippany. The 175,000-square-foot building is fully leased to Deloitte. The financing carries a 5.25 percent fixed interest rate, 10-year term and a 30-year amortization schedule. The borrower was CBRE Realty Trust. James Gunning and Donna Falzarano of CBRE's New Jersey office partnered with John Clifford and Keith Huizinga of the firm's Chicago office to arrange the loan.
NEW YORK CITY — The New York Legal Assistance Group (NYLAG) has signed a sublease for 36,250 square feet of office space at 7 Hanover Square in Manhattan. The firm plans to relocate this summer from its current location at 450 W. 33rd Street. Gere Ricker of MB Real Estate represented NYLAG in lease negotiations. MB's Project Services group will also provide construction management services for the tenant fit-out. Joseph Harkins and Barry Lewen of Grubb & Ellis represented the undisclosed sub-landlord.
HOUSTON — A two-story, 31,926-square-foot office building located at 1075 Kingwood Dr. in Houston has sold for an undisclosed amount. Brookfield Real Estate Opportunity Fund, a division of Brookfield Asset Management, sold the property Eminent Realty Development Group. The office property sits on a 3.86-acre site at the entrance to the Kingwood master-planned community close to Highway 59 and the George Bush Intercontinental Airport in northeast Houston. Renovated in 2008, the property is 91 percent leased to tenants including JPMorgan Chase, McDowell Owens and Compass Anesthesia. Dan Miller and Trent Agnew of Holliday Fenoglio Fowler (HFF) represented Brookfield in the transaction.
FORT MYERS, FLA. — Jack's Place LLC recently purchased a 27,000-square-foot office building that will house Digital Data Destruction Services and eTriage. Located in downtown Fort Myers, the property offers 12 office spaces to lease. The two tenants will hire up to 15 employees at the new location. Bryan Myers and Bob Pekol of LandQwest Commercial represented the buyer and the undisclosed seller in the transaction. Terms of the acquisition were not released.
MUNCIE, IND. — RCS Holdings X LLC has acquired the 15,907-square-foot Riverview Square in Muncie. Located at 1107 S. Tillotson Ave., the multi-tenant office building sold for $1.05 million. Joseph DiSalvo and Matthew Deahl of Marcus & Millichap's Indianapolis office represented the seller, Riverview Square LLC, and the buyer in the transaction. The property was originally constructed in 1972 and completely rebuilt in 1995.