HOUSTON — An investment fund managed by Urdang, the real estate investment specialist of BNY Mellon Asset Management, and Griffin Partners have refinanced an $80.8 million securitized loan for an 800,000-square-foot office building in Houston with a 7-year, fixed-rate term loan from MassMutual Financial Group in the amount of $81 million. Located at 1301 Fannin St., the Class A office building includes a data center. The Urdang Added Fund II, managed by Urdang Capital Management, and Griffin Partners acquired the property in March 2007.
PALO ALTO, CALIF. — Newmark Realty Capital has arranged HATCO Associates’ more than $11.3 million acquisition of a two-story, 17,363-square-foot office building located at 420/430 Cowper Street in Palo Alto. The property is currently 100 percent occupied by Wells Fargo. Newmark’s Eric Von Berg represented HATCO in the off-market transaction with the seller, an affiliate of the Matteson Cos.
NORCROSS, GA. — Georgia-based Alta Telecom Inc. has signed a lease for 30,375 square feet of office space within Peachtree Technology Center, which is located at 5854 Peachtree Corners East in Norcross. Located in Suite 100, the new space includes a 5,000-square-foot data center. Kevin Creel and Joe Grace of CresaPartners Atlanta represented the tenant; Bryan Heller of TPA Realty Services the landlord, Peachtree Technology, in the transaction. Terms of the lease were not released.
CHICAGO — Nanuet, N.Y.-based Berkley Properties has acquired 180 North LaSalle Street, an office tower located in Chicago's central business district, for an undisclosed price from Prime Group Realty Trust. Situated at the corner of Lake and LaSalle streets, the 38-story tower offers 770,191 square feet of rentable office space. Chicago-based Accenture and Paris-based Publicis currently anchor the property. The building underwent a complete renovation of its lobby and three-story facade in 2000. Brian Whiting, Jack McKinney Jr. and Matt Pistorio of J.F. McKinney & Associates represented the buyer in the transaction.
ARLINGTON HEIGHTS, ILL. — DeKalb, Ill.-based Tegrant Diversified Brands has signed a long-term lease renewal and expansion at Commerce Point in Arlington Heights. Tegrant will occupy 44,153 square feet of the 52,000-square-foot office building, which is located at 3930 Ventura Drive. Michael Flynn and Jason Wurtz of NAI Hiffman represented the owner, Oakbrook Terrace, Ill.-based Premises Management. Grubb & Ellis represented the tenant in the transaction. Terms of the lease were not released.
BOSTON — Four leases totaling 79,500 square feet have been signed at Seaport Center, a nine-story, 465,000-square-foot office building located at 70 Fargo St. in Boston's Seaport District. Monster.com signed a lease for 28,000 square feet, which will serve as a data center. Verizon also signed a 28,000-square-foot lease and will use the space for a telecom facility. Interaction Associates signed a 10,000-square-foot lease for its new East Coast headquarters. Finally, Altran Solutions renewed the lease for its 13,500-square-foot Northeast headquarters. Bill Barck and Ben Heller of Jones Lang LaSalle represented the landlord, a joint venture between The Beal Companies and Rockpoint Group, in lease negotiations. NAI Hunneman represented Monster.com; CB Richard Ellis represented Verizon; FHO Partners represented Interaction Associates; and Grubb & Ellis represented Altran. The building is now 80 percent leased.
NEWPORT BEACH, CALIF. — Grubb & Ellis has negotiated a 60,000-square-foot office lease renewal with LA Fitness at 2600 Michelson in Newport Beach. The space at Maguire Properties’ 310,000-square-foot Class A building, which was placed into receivership in November 2009, serves as LA Fitness’ corporate headquarters. Grubb & Ellis’ Oliver Fleener and Tim Joyce represented the landlord in the transaction, and Orion Partners represented LA Fitness.
ORLAND, FLA. — Fort Myers, Fla.-based J.L. Wallace Construction has commenced the renovation of the VA Consolidated Patient Account Center in Orlando. The project includes the renovation of the entire third floor, as well as the redesign of 48,000 square feet of space to accommodate offices, work stations, conference rooms and training areas. Additionally, the project will include the addition of an elevator tower. Hickory, N.C.-based Atriax Group is providing architectural services for the project.
BLOOMINGTON, MINN. — Avtex has signed a lease at Northland Center, a 465,000-square-foot office complex in Bloomington. The company plans to relocate to the 15,000-square-foot space in the fall. The company is currently located at SouthTech Plaza in Bloomington. Bill Rothstein and Dan Wicker of NorthMarq Capital represented the landlord, United Properties, in the transaction. Terms of the lease were not released.
BOSTON — CB Richard Ellis (CBRE) Capital Markets has brokered the sale of the Church Green Building in Boston's Financial District for $5.7 million. Located at 101 Summer St., the property contains 42,600 square feet of Class A office space—35,000 square feet of which is leased to Capital Crossing Services Co.—as well as 8,000 square feet of ground-floor retail space. CBRE's Chris Angelone, Bill Moylan and Matt Pullen represented the seller, Aurora Bank FSB, and procured the buyer, Synergy Investment & Development. CBRE has also been retained to lease the property.