HOUSTON — Holliday Fenoglio Fowler (HFF) has arranged an $8.8 million loan for the Concourse at Westway, a two-story, 129,724-square-foot office building located on the West Sam Houston Tollway in Houston. The Class A, multi-tenant facility was constructed in 1999. It is currently fully occupied by five tenants, including Stewart Title Co. Eagle Energy Partners and Nextel of Texas. It is located within the 150-acre Westway Park mixed-use development. Todd Sugimoto of HFF’s Los Angeles office and Jeff Knowles of the firm’s Houston office originated the financing on behalf of Guggenheim Real Estate. Terms of the loan include a 3-year term with a floating interest rate. Proceeds will be used to replace an existing loan that matured in December 2008.
RALEIGH, N.C. — Poway 1 has purchased a 10,200-square-foot office/flex building in Raleigh from an undisclosed seller for an undisclosed price. The property is located at 1648 N. Market Dr. Raleigh-based Drucker & Falk’s Branham Stovall, II, represented the buyer, and Raleigh-based Fountain & English’s Andy English represented the seller.
FORT WORTH, TEXAS — Construction is complete for Wilcox Plaza at Green Oaks, a $15.4 million office project located in Fort Worth. Situated on an 8.77-acre site that formerly housed the Green Oaks Hotel, the property comprises a three-story, 196,000-square-foot office building. The project was designed by the Dallas office of Omniplan and is expected to receive LEED-Gold certification. Sustainable features include the preservation of the site’s original oak trees, a low-reflectivity roof, a structure comprised of recycled steel manufactured locally, low-VOC interior materials, and efficient water and energy systems. The project was developed by Wilcox Development and marks the second LEED-certified project Omniplan has completed for the developer.
VIRGINIA BEACH, VA. — The local defense contractor Atlantic Diving Supply has acquired the 82,000-square-foot Lynnwood Plaza office building from an undisclosed seller for an undisclosed price. The 23-year-old property spans 4 acres of land at 621 Lynnhaven Parkway in Virginia Beach’s Oceana West Corporate Park and will serve as the company’s new corporate headquarters. ADS will initially utilize 40,000 square feet of the Class A space, leasing the rest. When the company expands, it will start to occupy more of the building. CB Richard Ellis brokered the transaction.
BLOOMINGDALE, ILL. — IHC Construction has been selected as construction manager for the development of new headquarters space for Scottish Rite Cathedral Association – Valley of Chicago. The 62,000-square-foot facility will replace the organization’s existing headquarters when it is complete fall 2010. Crystal Lake, Ill.-based Legat Architects is providing architectural design services.
NEW YORK CITY — L&L Holding Co. has completed the interior build-out for Grey Group’s new 370,000-square-foot world headquarters, located at 200 Fifth Ave. in Manhattan, New York City. The new office encompasses six floors of the 800,000-square-foot office building. Construction included new elevators, bathrooms and windows, as well as a modernization of the electrical systems and other infrastructure. Grey Group will be relocating in the fall from its current Midtown offices at 777 Third Ave. L&L is currently undertaking a $120 million redevelopment of 200 Fifth Avenue. The project is being designed by Studios Architecture, with assistance from Landscape Designs. Upon completion, it is expected to achieve LEED-Gold certification.
WOBURN, MASS. — Woburn-based Cummings Properties has leased 7,000 square feet of office space at TradeCenter 128, a 400,000-square-foot office complex located in Woburn. Newly formed insurance brokerage firm Tudor Risk Services will occupy 7,000 square feet of office space within the complex. The company was founded earlier this year and is operating dual headquarters in Boston and Albany, N.Y. Derek Cook of Cummings Properties provided in-house representation in lease negotiations. Terms of the transaction were not disclosed.
FLOWER MOUND, TEXAS — Naterra International, a beauty care product manufacturer, has leased 63,260 square feet within the Corporate Ridge business center in Flower Mound for its corporate headquarters and distribution center. Naterra produces four product lines sold at retailers, including Tree Hut, All That Glitters, Colorgen and Baby Magic. The new lease will bring 28 jobs to Flower Mound; the company will continue to operate its Dallas manufacturing facility. Corporate Ridge is a 477,000-square-foot development; it currently has 41,000 square feet remaining for lease.
KING OF PRUSSIA, PA. — BPG Properties has leased a total of 37,390 square feet of Class A office space at 1000 Continental Drive, a 200,000-square-foot office building located in King of Prussia. Nationwide Funds Group will occupy 29,615 square feet of the building and Grubb & Ellis will lease 7,775 square feet. They will join a tenant roster that currently includes The Hartford Financial Services Group, a subsidiary of Specialty Risk Services, Capital One and Worldwide Clinical Trials. BPG, the owner of the property, was represented in-house by Stephen Spaeder and Neil Gallagher. Additional landlord representation was provided by Jeffrey Mack, Douglas Newbert and John Susanin of GVA Smith Mack. Nationwide was represented by Michael Bronstein and Kari Fryman of CB Richard Ellis in its lease transaction; Grubb & Ellis was represented in-house by J. Robert Clements in its lease transaction.
SAN ANTONIO — Trane, an air conditioning systems, services and solutions company, has just received LEED – Commercial Interiors, Silver-level certification for its 32,000-square-foot office building located at 9535 Ball St. in San Antonio. The building, which was constructed by Metropolitan Contracting Co., includes high-efficiency HVAC systems, as well as water and light conservation techniques. Approximately one-third if the building materials used in construction were recycled, and 7 percent were derived from rapidly renewable sources. The building uses 32 percent less water than a comparable, non LEED-certified building and 50 percent less energy. The lighting systems also contain 15 percent less power density. The building is only the fourth LEED-certified building in San Antonio.