Office

OFFICE, MULTIFAMILY PROPERTIES REFINANCED FOR $60.3 MILLION

by admin January 9, 2009

AUSTIN AND LUBBOCK, TEXAS — The Dallas office of Holliday Fenoglio Fowler (HFF) has arranged the refinancing of two Texas properties for a total of $60.3 million. In the first transaction, HFF secured a $44 million loan for a downtown Austin office property located at the corner of 6th Street and Congress Avenue. The property comprises the 26-story, 261,609-square-foot Bank of America Building; a vacant parking garage situated on a 0.34-acre parcel; a 90,000-square-foot vacant commercial building; and a 0.81-acre covered parcel that is scheduled for development into a 1,150-space parking garage. HFF’s Andy Scott and Brandon Chavoya originated the loan between the borrower, a joint venture between locally based T. Stacey & Associates and Chicago-based Walton Street Capital, and the lender, CapitalSource Finance. Terms of the loan include an adjustable interest rate and a 30-month term. Loan proceeds will be used to complete capital improvements and future leasing of the property. In Lubbock, HFF secured $16.2 million in Freddie Mac financing for Ashton Pointe, a 366-unit multifamily community located at 308 Frankford. Completed in three phases from 1996 to 2003, the property was 92 percent occupied at the time of closing. The loan carries a 5.64 percent fixed interest …

January 9, 2009

ARAPAHOE CENTER BUILDING SELLS FOR $4.5 MILLION

by admin January 9, 2009

ENGLEWOOD, COLO. — B&J Properties Limited LLC has acquired Arapahoe Center Building, an office property located at 13111 E. Briarwood Ave. within Centennial Airport Business Park in Englewood. Built in 1982, the 58,750-square-foot building sold for $4.5 million or $76 per square foot. Ron Allum of Fuller Real Estate represented the buyer; Riki Hashimoto and Dan Grooters of Grubb & Ellis represented the seller, Thirteen One Eleven Corp., in the transaction.

January 9, 2009

Office Western

51,500-SQUARE-FOOT OFFICE BUILDING TRADES HANDS

by admin January 9, 2009

CAMARILLO, CALIF. — David Wise of American Corporate Real Estate Services represented the undisclosed buyer in the acquisition of Plaza 5051 at Mission Oaks, a Class A office building located at 5051 Verdugo Way within Mission Oaks Business Park in Camarillo. The three-story, 51,500-square-foot building, which was completed in 2007, was listed at $17.88 million. Bill Kiefer, Steve Economos and Geoff DeWolf of NAI Capital represented the seller, The Foundation Group, in the transaction. The purchase price was not disclosed.

January 9, 2009

Office Southeast

OFFICE DEPOT TO OPEN NEW CORPORATE HEADQUARTERS

by admin January 8, 2009

BOCA RATON, FLA. — Office Depot will open its 625,000-square-foot corporate headquarters, located at 6600 N. Military Trail in Boca Raton, on Jan. 16. The property sits on 28 acres, encompassing three office buildings that are linked by glass-enclosed atriums. Coral Gables, Fla.-based Flagler Development Group oversaw all aspects of construction, which began in early 2007.

January 8, 2009

Office Southeast

ALABAMA OFFICE BUILDING SOLD FOR $15.85 MILLION

by admin January 8, 2009

HUNTSVILLE, ALA. — HPC Properties has purchased a 99,197-square-foot office building triple-net leased to Science Applications International Corp. for $15.85 million. The property, which is located at 6725 Odessey Dr. in Huntsville, was built in 2007. Chad O’Connor of Irvine, Calif.-based Mark One Capital provided $8.9 million in financing for the purchase. Joshua Volen and Andrew Slade of Marcus & Millichap’s San Diego office and Edwin Greenhalgh of the firm’s Birmingham, Ala., office represented the buyer.

January 8, 2009

Office Western

JOHNSON & JENNINGS GENERAL CONTRACTING SELECTED FOR 46,044-SF T.I. PROJECT

by admin January 8, 2009

SAN DIEGO — Breshears & Ghianni Builders Corp. has selected Johnson & Jennings General Contracting to complete tenant improvement (T.I.) construction for the offices of the San Diego Health and Human Agency, which is located at 5055 Ruffin Rd. in the Kearny Mesa area of San Diego. The improvements include the build out of health examination rooms, interview rooms, cubicles and clerical support facilities. Ware Malcomb is providing architectural services for the project, which is slated for completion in January.

January 8, 2009

Office Western

WRAPFIBER LLC ACQUIRES 17,612-SQUARE-FOOT FLEX BUILDING FOR $2.2 MILLION

by admin January 8, 2009

SAN DIEGO — Wrapfiber LLC, composed of principals of The Fyfe Company, has acquired a 17,612-square-foot flex building, which is located at 8380 Miralani Dr. in the Mira Mesa area of San Diego. Roanoke, Va.-based ITT Night Vision sold the property for $2.2 million. The buyer plans to use the property for its headquarters; the remaining 7,000 square feet will be available for lease. Bill Haines and Kendra van Note of Grubb & Ellis|BRE Commercial represented the buyer; Sean Williams and Mike Macie of Cushman & Wakefield represented the seller in the transaction.

January 8, 2009

Office Southeast

ATLANTA FIRM BUYS SPACE FOR NEW HEADQUARTERS

by admin January 7, 2009

SANDY SPRINGS, GA. — With an eye toward opening a new corporate headquarters, JAS Forwarding Worldwide of Atlanta has purchased three office buildings on a 6.34-acre site from The Griffin Company. Located on Barfield Road in Sandy Springs, the three buildings will be completely renovated as part of a 90,000-square-foot office development. Griffin will serve as the general contractor for the project, which will break ground during the first quarter.

January 7, 2009

Office Texas

HE CAPITAL COMPLETING $1.2 MILLION RENOVATION TO OFFICE TOWER

by admin January 7, 2009

HOUSTON — HE Capital is completing a $1.2 million capital improvements plan for 2425 West Loop South, an 11-story, Class A office building located in Houston. Phase I, which was completed in August, consisted of the installation of two energy-efficient chillers and an upgraded energy management system. In December, renovations to the atrium lobby were completed; construction included a new granite floor, carpet insets and wall finishes, as well as a new security station and lighting. In the first quarter of this year, a semi-circular driveway will be completed, improving access from the West Loop. The renovation project was designed by architect I.M. Pei. Amenities at the office building include a deli, on-site management and security, multi-room conference facilities, and an attached, nine-story parking garage. Occupancy at the building is currently at 74 percent; leasing efforts are being undertaken by the Houston office of CAPSTAR Commercial Real Estate Services.

January 7, 2009

Office Western

THOMPSON NATIONAL PROPERTIES ACQUIRES KODAK HOLLYWOOD CAMPUS

by admin January 7, 2009

LOS ANGELES — Thompson National Properties LLC recently acquired Kodak Hollywood Campus, which is located in Los Angeles’ Hollywood district. The two-building Class A campus consists of 102,800 square feet of office and production space. Located at 1017 N. Las Palmas Ave., the three-story office/production facility offers approximately 83,950 square feet of space, including screening rooms, editing bays, recording facilities, cabling and infrastructure. The two-story office building, which is located at 6700 Santa Monica Blvd., offers 18,850 square feet of office space. The property is 100 percent leased to Eastman Kodak. The seller and sales price were not disclosed.

January 7, 2009

Newer Posts

Older Posts

Upcoming Events

Aug
06