LAS VEGAS — On behalf of the lessor, Great Wash Park LLC (Tivoli Village), CB Richard Ellis’ Randy Broadhead and Brad Peterson have negotiated the more than $4.39 million, 120-month lease of approximately 12,635 square feet of office space, located at 400 S. Rampart Boulevard in Las Vegas, to HQ Global Workplaces LLC.
NEW YORK CITY — Real estate investment firm TF Cornerstone has relocated its headquarters to a building it owns in New York City. The company will occupy 30,000 square feet, comprising the sixth and seventh floors, of 387 Park Avenue South, a 12-story, 200,000-square-foot office building. The company plans to complete a multi-million renovation of the property that will include new elevators, upgrading both lobbies and a new façade. TF Cornerstone purchased the building in 2005.
PASADENA, CALIF. — On behalf of Bolton & Co., Jones Lang LaSalle has arranged a 30,884-square-foot lease at the 265,000-square-foot Pasadena Corporate Park, a Class A complex located at 3475 E. Foothill Blvd. in Pasadena. Terms of the deal were not disclosed. Jones Lang LaSalle’s John McAniff, Christina Noonan and Jason Fine represented the tenant, which will use the new space as its company headquarters, in the transaction, and CB Richard Ellis’ Todd Doney, Nico Vilgiate and John Murray represented the landlord, Wells REIT Fund II. Jones Lang LaSalle’s Southern California Project and Development Services will oversee planning, design, construction and close-out of the project for the 80-year-old employee-owned insurance brokerage company.
ST. PETERSBURG, FLA. — Marcus & Millichap has brokered the sale of a BB&T Insurance office building in St. Petersburg. Located at 800 49th St. N., the 16,000-square-foot property sold for $400,000. Leon Brockmeier and Tim Phillips of Marcus & Milichap represented the Maryland-based seller and the Florida-based buyer.
CHICAGO — Olgetree, Deakins, Nash, Smoak & Stewart P.C. has selected McShane Construction Co. to complete a 6,000-square-foot expansion and build-out at the law firm's new offices at 155 N. Wacker Dr., Suite 4300 in Chicago. The build-out will include 18 private offices, three conference rooms, six soft offices and one breakroom. McShane recently completed the firm's 20,300-square-foot build-out for its relocation to the new office. Atlanta-based ASD Architects is providing architectural services for the project.
FRANKLIN, MASS., AND BEDFORD, N.H. — Marcone Capital has arranged $13.5 million in non-recourse financing for two office buildings in Massachusetts and New Hampshire. First, an $8.2 million loan was provided for Franklin Oaks Office Park, a 122,756-square-foot property located in Franklin. In addition, a $5.3 million loan was provided for Independence Place, a 101,381-square-foot property located in Bedford. Mike Marcone of Marcone Capital secured the loan on behalf of the borrower, Aegean Capital, through a large New England savings bank.
HOUSTON — Research Forest Lakeside's Building 2, a three-story, 68,000-square-foot speculative office building located on the west side of Lake Woodlands between Lake Woodlands Drive and Research Forest Drive in Houston, is expected to break ground on February 10. Slated for delivery in the fourth quarter of 2011, Building 2 is the first phase of Colorado Springs, Colo.-based Warmack Investment's 76-acre, 1.8 million-square-foot, master-planned development. Research Forest Lakeside will be comprised of ten office buildings and supporting retail. Ziegler Cooper Architects and Odell Associates (ZC+O) is serving as the project architect for Building 2.
LOUDOUN COUNTY, VA. — Kenneth Gentzel and Gary McGlynn of NorthMarq Capital's Washington, D.C., office has arranged $7.2 million in first mortgage financing for Signal Hill in Loudoun County. The property offers 61,115 square feet of office space. Financing was arranged for the undisclosed borrower through NorthMarq's correspondent relationship with Genworth Life Insurance Co.
CLAYTON, MO. — The newly opened Centene Plaza, a 460,000-square-foot office tower located at 7700 Forsyth Blvd. in Clayton, is now 96 percent leased. Current tenants include Centene, Armstrong Teasdale, Stinson Morrison Hecker, Cassidy Turley, JP Morgan Chase Bank, UMB Bank's Investment and Wealth Management Group and The Koman Group. The $186 million, 17-story property was developed by The Koman Group in a joint venture with Centene Corp. and general contractor Clayco. The property offers 20,000 square feet of retail space and a 1,677-space parking garage. HOK and Forum Studio provided architectural services for the property and parking garage.
PISCATAWAY, N.J. — Sonnenblick-Eichner Co. has arranged $21.3 million in first mortgage financing for the fee simple interest in a New Jersey office complex. One Centennial Plaza is a two-building, 121,286-square-foot office complex located in Piscataway. Its sole tenant is American Standard, a subsidiary of Ingersoll Rand, whose former U.S. headquarters is located adjacent to the property. The loan is non recourse and carries a 10-year term and a fixed interest rate priced less than 200 basis points over the corresponding treasury rate. The lender was a domestic life insurance company.