SAN FRANCISCO — Argonaut Private Equity Group has acquired a $40.8 million note on 250 Montgomery Street in San Francisco. The seller was Hartford, Conn.-based Realty Finance Corp. 250 Montgomery is a 16-story, 116,000-square-foot office property currently occupied by California Pacific Bank, the American Land Conservancy and Bay Street Research. Daniel Cressman of Grubb & Ellis’ San Francisco office represented the Argonaut in the transaction.
Office
MISSION VALLEY, CALIF. — Voit Real Estate Services has brokered the sale of eight units at Hillside Professional Center, which is located at 2221 Camino del Rio South in Mission Valley, for a total consideration of $2.3 million. The 41,500-square-foot Hillside Professional Center offers 30 units of medical and office space. San Diego-based Language World has acquired five contiguous units totaling 7,762 square feet at the center for $1.6 million. Scott Danshaw and Justin Harvey of Coldwell Banker represented the buyer. Additionally, Jones, Roach & Caringella has acquired three contiguous shell units totaling 4,070 square feet at the property. Jon Boland and Ryan Bracker of Voit represented the seller, Camino Del Rio Partners, in both transactions. Boland and Bracker also represented Jones, Roach & Caringella.
MILWAUKEE — The Planning Council for Health & Human Services has announced plans to relocate to the historic Boiler Building, located at 1243 N. 10th St. within Milwaukee’s The Brewery Project master-planned development. The Planning Council will occupy 4,100 square feet on the second floor of the recently renovated building. The transaction was negotiated by Jennifer Green of CB Richard Ellis and Lyle Landowski of Inland Cos.
NEW YORK CITY — New York-based Aragon Construction has completed a 13,000-square-foot office build-out for the non-profit Forward Association. The office encompasses much of the eighth floor of 125 Maiden Lane, a 17-story, 342,371-square-foot tower located in Manhattan, New York City. Construction included a new executive office wing with private offices, open department areas, conference rooms, informal meeting areas, a reception area, a broadcast space and a gallery/performance space. The project architect was Amie Gross Architects. The project also included the renovation of 5,000 square feet of office space for a sublease tenant or for the Forward Association’s future expansion.
ENFIELD, CONN. — Two Colliers affiliates have completed the leasing of 9,500 square feet of office space at LAN Executive Center, located in Enfield. The Boston office of Colliers Meredith & Grew represented the tenant, Unum. Phil Gagnon of the Hartford, Conn., office of Colliers Dow & Condon represented the undisclosed landlord. Terms of the loan were undisclosed.
CARLSBAD, CALIF. — Providence Capital Speed Fund, on behalf of a wholly owned subsidiary, has acquired Carlsbad Pacific for an undisclosed price. Located at 5050 Avenida Encinas in Carlsbad, the property offers 49,031 square feet of office space. The building is currently 81 percent leased to tenants, including RBF Consulting, UBS Financial and Next Proteins. Rick Reeder, Brian Driscoll and Jay Boyle of Grubb & Ellis|BRE Commercial, along with Robert Griffith of Grubb & Ellis, represented the seller, Prudential Real Estate Investors, and the buyer.
CHICAGO — Clear Channel Communications has signed a 107,000-square-foot office lease at 233 North Michigan Avenue, located in downtown Chicago. Already a tenant at the building, Clear Channel will continue to lease all of the 27th and 28th floors and part of the 31st floor, but it will expand its presence in the building by leasing the entire third floor. This space will house the company’s Katz Communications business unit, which will be relocating from its previous offices at the NBC Tower. The new lease represents a 35,000-square-foot expansion and includes a tenant improvement package that will be used to build out the new space for Katz. Richard Schuham, Andrew Kelly and Bruce Rothman of Studley represented Clear Channel in lease negotiations. Brian Whiting and Jack McKinney, Jr. of J.F. McKinney & Associates represented the landlord, Parkway Properties.
ARLINGTON, TEXAS — SCM Real Estate Services has arranged a lease expansion for Tenaska Inc. in Arlington. The Omaha, Neb.-based energy company now occupies 32,100 square feet at 1701 E. Lamar Blvd. The lease represents the company’s fourth expansion of its regional headquarters within the building. Gary Walker and Renee Efimoff of SCM represented Tenaska in lease negotiations. Phil Sandlin of Bradford Commercial represented the undisclosed landlord. Terms of the lease were not disclosed.
CHICAGO — Locally-owned Reed Construction has completed the build-out of a 5,000-square-foot fitness center within 303 E. Wacker Dr. in Chicago. The project includes men’s and women’s locker rooms and an exercise equipment area. Owned and managed by Hines, 303 East Wacker is a 28-story, 838,000-square-foot office tower situated in Chicago’s East Loop area. The building, which was built in 1979, was designed by Fujikawa Johnson & Associates and features an International Style tower that is distinguished by a curtain wall of bronze-finished aluminum and reflective glass and a two-story colonnaded arcade at ground level. The Environments Group/Perkins & Will provided architectural services for the build-out project.
ORLAND PARK, ILL. — Woodridge, Ill.-based Morgan/Harbour Construction, on behalf of American Technical Publishers Inc., has completed two office build-outs within a 42,000-square-foot, LEED-certified office building, which is located at 10200 Orland Parkway in Orland Park. The first project was a 5,952-square-foot build-out for Linden Group Inc., an architectural, interior design and land planning company, which is relocating from Homewood, Ill. Additionally, Morgan/Harbour completed a 2,667-square-foot build-out for ProMed Staffing Inc., which is relocating to the new Class A facility. Archideas provided architectural services for the projects.