BELLMAWR, N.J. — Grubb & Ellis has negotiated the sale of a 40,000-square-foot office building, located at 211 Benigno Blvd. in Bellmawr, for $2.8 million. Kurt Montagano and Joseph Sklencar, Jr. of Grubb & Ellis represented the seller, Bessemer Group, Inc. The buyer was Children’s Choice of New Jersey.
NEW YORK CITY — Skyline Developers has leased the 10th floor of 1040 Avenue of the Americas, located in Midtown Manhattan, New York City. The 12,000-square-foot space will be occupied by Northeast Power Coordinating Council. William Cohen of Newmark Knight Frank represented the landlord; Barry Rosner, also of Newmark Knight Frank, represented the tenant. The office building at 1040 Avenue of the Americas totals 24 stories and 256,000 square feet.
ROCKWALL, TEXAS — Colleyville, Texas-based Realty Capital Corp. has sold the third building at The Offices at Horizon Ridge, an office park catering to medical users that is located on Arista Road in Rockwall, near the new Presbyterian Hospital. The 4,130-square-foot property was acquired by Rita Ne, who will use the space as the new home of Rockwall Endodontics. It will mark Dr. Ne’s third endodontics practice. The acquisition price was not disclosed.
LOS ANGELES — CB Richard Ellis Group Inc. has been selected as a primary advisor to the Federal Deposit Insurance Corp. (FDIC) for the portfolios of owned real estate (ORE) nationwide. The CBRE-led team will be responsible for the management and marketing of residential and commercial ORE throughout all 50 states, Puerto Rico and the U.S. Virgin Islands. The portfolios comprises assets that are held by the FDIC in its capacity as receiver for failed financial institutions. Theodore Carter, executive managing director in CBRE’s Washington, D.C., will lead the ongoing client services, while Ken Pearson, as alliance director, will lead a nationwide team of asset managers, property managers and marketing personnel.
ATLANTA — NorthMarq Capital has expanded its Atlanta Corporate Solutions office by leasing 3,875 square feet in the Byers Engineering Building. The 89,000-square-foot property is located at the intersection of Georgia 400 and Perimeter Highway in Atlanta. NorthMarq’s move was spurred on by the company’s acquisition of ServicExpress, a transaction that added five new jobs to NorthMarq’s Atlanta operations.
LOS ANGELES — America Realty represented Young Y. Park in the acquisition of a 12,940-square-foot office property in Los Angeles. The property consists of two adjacent freestanding buildings located at 2064 Marengo St. and 1063 Chicago St. Novak Trust sold the property for $2.7 million. The buyer plans to establish a home health services company at the site. Jack Schlaifer and Jay Martinez of Lee & Associates – LA North/Ventura represented the seller in the transaction.
CHICAGO — Town & Country Pediatrics has signed a lease for 13,500 square feet of medical office space within Chicago-based Structured Development’s Blackhawk/Halsted mixed-use project, which is located in the Clybourn Corridor of Chicago. The 225,000-square-foot development houses 70,000-square-feet of medical office space, which is 70 percent leased. Ira Perlman of Howard Ecker & Co. represented Town & Country Pediatrics in negotiations. Additional medical tenants include Advocate Health Centers, Pine Dental, Associated Allergists, and Northwestern Memorial Physicians Group, which will open a pediatric and internal medicine office at the development in the spring. The British School of Chicago and retailer REI also occupy a combined 105,000 square feet of space within Blackhawk/Halsted. The 2-acre site features a 550-space parking garage. The building, which is 80 percent leased, is a candidate for LEED Silver certification. Structured Development’s mixed-use, 1 million-square-foot New City project is situated directly across the street from Blackhawk/Halsted.
PHILADELPHIA — U.S. Realty Capital has arranged a $7.77 million loan for the refinancing of two office buildings located near the Temple University Medical Campus in Philadelphia. Terms of the financing include a 6.25 percent interest rate, a 7-year term and a 25-year amortization schedule. The loan was originated by Brenner Green of U.S. Realty Capital’s Philadelphia office. The borrower and lender were undisclosed.
FORT WORTH, TEXAS — Mark One Capital has arranged a $7 million loan for the acquisition of the Western Insurance Building, a 92,240-square-foot office building located at 5601 Bridge St. in Fort Worth. Terms of the loan include a 5.5 percent adjustable interest rate priced at 250 basis points above the 30-day LIBOR, a 5-year term with a 20-year amortization schedule, and a 70 percent loan-to-value ratio. It was originated by Geoffrey Harris of Mark One’s Phoenix office and Farhan Kabani of the firm’s Dallas office. The lender was an undisclosed commercial bank.
LAKE MARY, FLA. — Heathrow Land Holdings has purchased a 36,556-square-foot Class A office building from RS Group Holdings for an undisclosed amount. The property is located on Business Park Lane in Lake Mary. Miguel de Arcos and Ajy Babbar of Sperry Van Ness’ Paradigm Commercial Real Estate Group in Lake Mary represented the seller, and Providence One Partners represented the buyer.