MESQUITE, TEXAS — Dallas-based Metropolitan Capital Advisors (MCA) has arranged $6.5 million in financing for the Town East Tower office building located in Mesquite. The loan includes a 6.25 percent interest rate and a 25-year amortization schedule. MCA's Todd McNeill secured the loan on behalf of a single-asset entity controlled by International Town East Tower LP. The lender was a regional bank.
SOUTHFIELD, MICH. — R.L. Polk & Co. is relocating its headquarters to more than 138,000 square feet of office space at Travelers Tower II in Southfield. The company will occupy floors nine through 13 at the building, which is located at 26533 Evergreen Road. Polk is currently located at First Center Building in Southfield. The new property is owned by Lehman Brothers Holdings Inc., which is being overseen by Alvarez & Marsal. Signature Associates represented Polk in the transaction. Terms of the lease were not disclosed.
HOUSTON — Colliers International has completed a 15,000-square-foot commercial sale in Houston The property is located at 1740 Westheimer; the new owner, Geophycial Pursuit, will occupy the top two floors. Jay Kyle and Robert Parsley of Colliers represented the buyer; the pair will also lease the bottom floor of the building, which consists of 5,100 square feet of office and retail space. The seller was NPN 2702 Westheimer.
LAKEWOOD, COLO. — Jones Lang LaSalle has closed the $28.2 million sale of a nearly 167,000-square-foot office building, located at 12795 W. Alameda Pkwy. in Lakewood, for a local investor. An institutional investor purchased the four-story building, which is totally occupied by the National Park Service on a long-term lease. Jones Lang LaSalle’s Steve Suechting led the brokerage team in making the sale a reality.
ORLANDO, FLA. — Roger B. Kennedy Inc. has completed construction of the 30,000-square-foot Kirkman Plaza in Orlando. The two-story property is located at 485 S. Kirkman Road. Emergency Insurance Restoration Services is developing the project, which was designed by Orlando-based CPH Engineers.
WEST PALM BEACH, FLA. — The law firm Lewis, Longman & Walker has signed an 11-year lease with Gaedeke Group for 15,742 square feet in its Northbridge Centre office development. The property is located at 515 N. Flagler St. in West Palm Beach. Occupancy of the 288,131-square-foot building is now 64 percent. Touchstone Webb Realty Co.'s Laureen Hunter represented the tenant. Kirk Fetter served as in-house representation for the landlord.
GREAT RIVER, N.Y. — Metropolitan Realty Associates (MRA) has received an extension from GE Capital Corp. for the $22.6 million mortgage it currently has taken out on Sunrise Business Center in Great River. MRA, along with its equity partner Angelo, Gordan & Co., first purchased the center in 2006. Since then, it has invested more than $15 million in renovating the property's two buildings that have helped increase occupancy from 51 percent to 97 percent. Last summer, MRA constructed a third building, bringing the total amount of Class A space within Sunrise Business Center to 388,500 square feet. Terms of the loan extension were not disclosed.
NEW YORK CITY — Rainbow Advertising Sales Corp. has renewed its lease at 530 Fifth Avenue, a 26-story, Class A office tower located in Midtown Manhattan, New York City, that is owned by The Moinian Group. The tenant, a subsidiary of Cablevision's Rainbow Media Holdings, occupies 44,422 square feet of space, consisting of the entire sixth and 17th floors as well as part of the basement. Cushman & Wakefield represented Rainbow in lease negotiations. Newmark Knight Frank represented Moinian.
EARTH CITY, MO. — Exclusive Events has signed a lease for 21,535 square feet of office/warehouse space at 13609-13633 Lakefront Drive in Earth City. The tenant will use the space as an office, storage and assembly facility for its event design and production company. John Sheahan of NAI DESCO represented the tenant in the transaction. Terms of the lease were not disclosed.
CHICAGO — Cohen Financial has secured $4.5 million in combined small business administration (SBA) 504 and conventional bank acquisition financing for an office/retail location in Chicago. Located at 821 W. Eastman, the 23,000-square-foot property is occupied by Pump It Up, Tomato Head Pizza and the Chalk Preschool. Michael Grant of Cohen Financial secured the 20-year, SBA 504 loan and the 10-year bank loan. The borrower is the owner of Pump It Up.