ADDISON — Mesa West Capital has provided a $17.5 million loan for Brookfield Real Estate Opportunity Fund's purchase and leasing of Two Addison Circle, a vacant 198,484-square-foot Class A office building in the North Dallas suburb of Addison. The six-story, LEED-certified building was built in 2009. Financing was provided through Mesa West Capital's $614.5 million Mesa West Real Estate Income Fund II, which closed this past June. Holliday Fenoglio Fowler's Dallas office arranged the financing.
Office
SAN DIEGO — A 9,595-square-foot office property, located at 7877 Ivanhoe Ave. in San Diego, has traded for $2.1 million. Voit Real Estate Services’ Brian Mulvaney and Jon Boland represented the buyer, Pacific Trust Bank, in the transaction, and Voit’s Pete Beauchamp and Mark Sigler represented the FDIC as receiver for San Diego National Bank.
CLARKSTON, MICH. — New Oakland Child – Adolescent & Family Center has acquired a 10,000-square-foot, build-to-suit building in Clarkston. The property is located within Village Town Center at 6548 Town Center Dr. Todd Hawley of Friedman Real Estate represented the buyer and the seller, Village Town Center LL, in the transaction. The acquisition price was not released.
DULUTH, GA. — Jay O'Meara, Will Power and Justin Parsonnet of CB Richard Ellis' Atlanta Institutional Group has brokered the REO sale of 11450 Technology Circle in Johns Creek in Duluth. The 143,000-square-foot office building sold for $4.3 million to a private investment partnership. CBRE's team represented the seller, an undisclosed CMBS Special Servicer. Resource Real Estate will be handling the leasing and management for the new owner.
NAPERVILLE, ILL. — The Midwest Division of Ryan Companies US has relocated its offices to a four-story, 85,000-square-foot office building in Naperville. Located at 111 Shuman Blvd., the property was originally designed and built by Ryan for Delta Dental of Illinois. Ryan has leased and will occupy the entire fourth floor of the building. Delta Dental, which moved into its new space in the spring, continues to occupy the remaining 65,000 square feet of space. Ryan's space features three conference rooms, including a board room, a teleconference room and a general conference room. The property is currently seeking LEED Silver certification.
MINNEAPOLIS — The law firm Oppenheimer Wolff & Donnelly has signed a lease for 100,000 square feet of office space at Campbell Mithun Tower in Minneapolis. Oppenheimer plans to take occupancy in late 2011 or early 2012 and will begin improvements to the space in summer 2011. RJM Construction will complete the tenant improvements on behalf of Oppenheimer. With the law firm's deal, the 730,000-square-foot, LEED-Gold office tower is now 88 percent leased. Chris Rohrer of Jones Lang Lasalle represented the tenant; Brent Robertson of NorthMarq represented the landlord, Principal Financial Group. NorthMarq has managed and leased the property since 2005.
DALLAS — Cumulus Media Inc. has leased 20,248 square feet of office space at Victory Park. The company four Dallas-Ft. Worth radio stations will be relocating to the property, which is owned by Victory Park UST Joint Venture I. Victory Park offers two five-story Class A office buildings totaling 185,000 square feet. Jeff Ellerman and Phil Puckett of CB Richard Ellis represented Cumulus; Bill Brokaw of Cousins Properties represented Victory Park UST Joint Venture I in the transaction. Terms of the lease were not released.
SAN DIEGO — Cassidy Turley BRE Commercial has brokered the $7.2 million sale of a six-story, 64,581-square-foot downtown office building located at 925 B Street in San Diego. An office condominium developer purchased the former Chicago Title building in 2007 for $13.6 million, and it was sold again in October 2009 at a public auction to the highest bidder for $12 million. Cassidy Turley BRE Commercial’s Tim Winslow, Jason Kimmel and Kelly Strickland represented the seller, Far East National Bank, in the transaction; Jeannine Savory of Prudential California Realty represented the foreclosing-beneficiary buyer, Virginia Herrera Gonzalez.
HARTFORD, CONN. — Colliers International has completed the purchase of a commercial office building in Hartford for $1.5 million. The property totals 14,822 square feet and is located at 8 Ellsworth Road within West Hartford Center. John Cafasso and Philip Gagnon of Colliers International represented the buyer, Udolf Properties, as well as the undisclosed seller.
RICHMOND, VA. — Thalhimer, a member of the Cushman & Wakefield Alliance, has brokered three leases, totaling 29,984 square feet, at Williams Mullen Center in Richmond. Located at 200 S. 10th St., the property offers 210,807 square feet of Class A office space. Cherry, Bekaert & Holland CPA signed a lease for 21,004 square feet; Agincourt Capital Management inked a deal for 6,630 square feet; and La Parisienne took 2,350 square feet at the center. Jeffrey Cooke, Connie Jordan Nielsen and Brian Berkey of Thalhimer brokered the lease transactions. Terms of the transactions were not released.