NEWTON, MASS. — Quincy, Mass.-based Marcone Capital has arranged a $10.75 million loan for University Business Center, a 66,175-square-foot retail/office/flex industrial property located at 19-33 Needham St. in Newton. Situated on 2.51 acres, the property comprises three buildings, including a freestanding National Tire & Battery store, a single-story office building, and a two-story, office and industrial flex building. Mike Marcone of Marcone Capital arranged the financing on behalf of the borrower, KSKIM UBC Equity Partners LLC, which is an entity controlled by the owner of KS Partners, Kambiz Shahbazi. The borrower plans to use the financing to redevelopment a portion of the property. Tenants on the first floor of the flex building will be relocated, and the space will be converted for retail use. The lender was a regional bank. Terms of the financing include a floating interest rate below 5 percent.
DALLAS — Business law firm Scheef & Stone has relocated its corporate headquarters to Lincoln Plaza, located at 500 North Akard in downtown Dallas. The company will occupy 25,436 square feet on the 27th floor of the tower. Scheef & Stone is relocating from its previous Dallas office within Preston Center, located at 5956 Sherry Lane. The company expects to move to its new location by the end of the month. William Hale of the Dallas office of CB Richard Ellis represented the landlord, The California State Teachers’ Retirement System. The tenant was represented by Bo Bond and Brooke Armstrong of Jones Lang LaSalle. Terms of the lease were not disclosed.
WHITE PLAINS, N.Y. — URDANG has disposed of a 320,000-square-foot office building, located at 1311 Mamaroneck Ave. in White Plains, for $81.77 million. Situated on 25 acres, the building includes a full-service cafeteria, a fitness center, a parking garage and concierge services. Tenants at the fully occupied building include Acadia Realty and OrthoNet. Jonathan Davis, John Saraceno, Vincent Sanfilippo and David Spoont of Onyx Equities negotiated the sale on behalf of URDANG. Matthew Keefe of HK Group represented the undisclosed buyer.
SECAUCUS, N.J. — Ridgewood, N.J.-based Poskanzer Skott Architects has been selected to serve as project architect for the 5,500-square-foot build-out of Fusionapps new headquarters, located at 110 Meadowlands in Secaucus. The new space will be home to 30 employees. It will feature collaborative work areas, as well as an open work area where Fusionapps, a technology solutions firm, can build, test and configure infrastructure equipment for customers. The construction timetable was not released. The 110 Meadowlands building is a three-story office building owned by First National Corp.
OKLAHOMA CITY, OKLA. — The Houston office of Holliday Fenoglio Fowler (HFF) has arranged $9.74 million in acquisition financing for Atrium Towers, twin six-story office buildings located in Oklahoma City. Situated near the intersection of Interstate 44 and Centennial Expressway, the buildings total 156,106 square feet. They had a combined occupancy rate of 95 percent at the time of closing. Tucker Knight and Brad Ballard of HFF secured the loan on behalf of the borrower, Houston-based Principle Equity Management. Terms of the financing include a 7-year term with a fixed interest rate. The lender was Plano, Texas-based ViewPoint Bank.
POWAY, CALIF. — Scott Cummings of Independence Realty represented Samuel Flores Jr. in the acquisition of a 6,000-square-foot freestanding office building located at 14265 Danielson St. in Poway. Situated within Scripps Poway Office Park West, the property sold for approximately $1.9 million. Built in 2002, the facility offers four private offices and ample parking. The buyer intends to use the building for a staffing company. James Duncan and Mickey Morera of Cushman & Wakefield represented the seller, Jian Investments LLC, in the transaction.
ORLANDO, FLA. — Houghton Mifflin Harcourt Publishing Co. has leased 250,000 square feet at the SouthPark Center in Orlando from owner Flagler Development Group. The office space is spread across buildings 1300 and 1500 in the 18-building park. Houghton Mifflin will join Busch Entertainment Corp., Strayer University and Wyndham Vacation Resorts in the 2.9 million-square-foot center. Cushman & Wakefield’s Rick Solik and Gil Daley represented Houghton Mifflin in the lease.
WOBURN, MASS. — Richards Barry Joyce & Partners (RBJP) has completed a lease for 49,626 square feet at 120 Presidential Way, a 74,194-square-foot office building located within MetroNorth Corporate Center in Woburn. The tenant, MediaTek, will occupy space on the first and second floors of the three-story building. The company is relocating from its previous offices in Wilmington, Mass. Representing MediaTek in lease negotiations was Grubb & Ellis. The landlord, National Development, was represented by Jonathan Varholak, Brian McKenzie and Ron Friedman of RBJP. The lease brings the building to full occupancy.
DULUTH, GA. — WEG Electric Corp. has leased 250,000 square feet at the Business Park at Sugarloaf, located at 6655 Sugarloaf Parkway in Duluth, from an undisclosed party. The company, which currently houses its headquarters in Suwanee, Ga., will occupy 50,000 square feet of the new building in 2010. Grubb & Ellis’ Dave Watson and Darren Ross represented WEG, and Brian Sutton of Duke Realty represented the landlord.
DULUTH, GA. — American Security Insurance Co. has leased a 70,393-square-foot, Class B office building from Magnolia Norcross for an undisclosed amount. American will use the building, located at 2975 Breckinridge Blvd. in Duluth, as a call center. Doug Wise and Eric Carlton of Grubb & Ellis represented Magnolia Norcross.