SAN ANTONIO, TEXAS — The Department of Defense has leased 20,616 square feet of office spacefrom Talcott Realty Investors in theBank of America Plaza. The property is located at 300 Convent St. in San Antonio.The building is currently 90 percent occupied. CB Richard Ellis' Seth Prescott represented the Department of Defense. Martin Down of Transwestern represented the landlord.
WASHINGTON, D.C. — First Potomac Realty has purchased the 129,035-square-foot office property at 500 1st St. NW in Washington from AREA Property Partners Value Enhancement Fund VII for $68 million. AREA purchased the property with Van Ness Property Group in 2008 for $44.9 million. The Federal Bureau of Prisons leases the entire building.
JACKSONVILLE, FLA. — Comcast has leased 80 percent of a 106,253-square-foot office from Flagler in an 11-year, $22 million deal. The property is located in the Deerwood North business park at 4600 Touchton Road in Jacksonville. Deerwood is comprised of four Class A office buildings totaling 500,000 square feet. David Fahey of Binswanger Commercial represented Comcast. Flager was represented internally by Ross Carrier.
WEST ALLIS, WIS. — Kim Ellis, owner of Milwaukee-based ANS Home Health Services, has purchased the Roman Building, which is located at 1551 S. 108th St. in West Allis. Acquired for $1.02 million, the property offers 26,000 square feet on a 1.18-acre lot. The buyer plans to use the property to expand its business. Patrick Gallagher of Siegel-Gallagher represented the seller, Harris Bank, in the transaction.
SOMERSET, N.J. — Private equity fund manager NextBridge Group has acquired a 164,000-square-foot office property in Somerset. The four-story building is located on 10.1 acres at 220 Davidson Ave. Constructed in 1984, the property features a cafeteria, fitness centers and 648 parking spaces. Tenants include McKesson Information Solutions,, American Arbitration Association, Kyocera, Prudential, National Resources Conservation Services and SVM E-Business Solutions. The Cushman & Wakefield team of Andrew Merin, David Bernhaut, Gary Gabriel and Thomas Walsh represented the seller, an institutional lender, and procured NextBridge.
PEAPACK, N.J. — CB Richard Ellis (CBRE) has brokered the sale of a leasehold interest in an office park in Peapack for $23 million. The property, which is located on 70 acres at 100 Route 206 North, consists of 10 connected buildings totaling approximately 518,000 square feet of space. It was built in 1982 as a campus for Beneficial Management but was most recently occupied by Pfizer, which also holds the fee interest in the property. The seller for the leasehold interest was Hamilton Associates LP, and the buyer was Pharmacia & Upjohn Company LLC, an entity controlled by Pfizer. Jeffrey Dunne, Kevin Walsh and Christopher Leonard of CBRE's New York Institutional Group teamed up with Bill Moylan of CBRE's Boston office to represent the seller.
HOUSTON — KBS Realty Advisors has sold the 139,834-square-foot Atrium at Park Ten office building to Beacon Investment for an undisclosed amount. The property is located on 6 acres at 16340 Park Ten Place in Houston. In the past 8 years, the owner has invested $2 million in capital improvements into the property; the Atrium is currently 88 percent leased. Holliday Fenoglio Fowler's Susan Hill arranged fixed-rate financing for Beacon. Dan Miller and Martin Hogan of HFF brokered the sale.
SAN JUAN CAPISTRANO, CALIF. — Lee & Associates has completed the $2.52 million sale of a 16,842-square-foot office building at Valle Ranch Business Park in San Juan Capistrano. Completed in 2006 and visible off Interstate 5, the distressed property is situated next to the San Juan Capistrano Unified School District building. Lee & Associates’ Dave Smith and Rob Rader represented both the private-investor buyer, Sheila LLC, and the seller, Pacific Western Bank, in the transaction; Newport Beach, Calif.-based Barnard Ventures acted as asset manager for PWB.
MIAMI — NGP Fund V has purchased a four-property Florida office portfolio totaling 196,915 square feet from South Florida Federal Partners for $95.1 million. The Miami properties include a 60,157-square-foot building located at 8801 NW 7th Ave.; a 45,911-square-foot building located on SW 120th St.; and a 41,064-square-foot building located on Miami Gardens Drive. One 28,667-square-foot property is located on 31st Ave. in Oakland Park. United States Citizenship and Immigration Services lease the buildings under a 15-year agreement. Hermen Rodriquez and Ike Ojala of Holliday Fenoglio Fowler's Miami office brokered the sale.
PRINCETON, N.J. — The New Jersey and Dallas offices of Holliday Fenoglio Fowler have joined to arranged the refinancing of a Princeton office building. The property is located at 1100 Campus Road. It rises five stories and contains 166,991 square feet of Class A space. Constructed in 2006, the building is fully leased to Novo Nordisk through May 2023. The financing, which was arranged by HFF's Jon Mikula and Brian Carlton, carries a 5-year term and a fixed interest rate. The borrower is Denver-based REIT Dividend Capital Total Realty Trust, and the lender is a life insurance company. HFF also brokered the $51 million sale of the property to Dividend in November 2009.