Office

REALTY CAPITAL CORP. BROKERS OFFICE SALE

by admin October 3, 2008

SOUTHLAKE, TEXAS — Colleyville, Texas-based Realty Capital Corp. has brokered the sale of a 4,646-square-foot office building located within Miron Grove Office Park in Southlake. The building is located within Phase I of the park, which consists of five buildings ranging in size from 3,350 to 5,690 square feet. It is located adjacent to Harris Methodist Surgical Center. Chad O’Neal of Realty Capital Corp. represented the seller, RCC Miron Office Ltd. The building was acquired by Greg Thorn, who will use it as the new headquarters for Thorn Financial Group. The acquisition price was not disclosed.

October 3, 2008

8,700-SQUARE-FOOT OFFICE PROPERTY FETCHES $2.53 MILLION

by admin October 3, 2008

WOODLAND HILLS, CALIF. — Tamer Iskander of Marcus & Millichap represented the undisclosed buyer in the acquisition of an 8,700-square-foot office property in Woodland Hills. Located at 22440 Clarendon St., the property sold for $2.53 million. The seller was not disclosed.

October 3, 2008

Midwest Office

GRUBB & ELLIS HEALTHCARE REIT ACQUIRES MEDICAL OFFICE PORTFOLIO

by admin October 2, 2008

PARMA, OHIO — Grubb & Ellis Healthcare REIT has acquired Medical Portfolio 4, a five-property medical office portfolio with buildings in Ohio, Arizona and Texas. In Parma, Ohio, the company has acquired a three-story medical office building located at 6789 Ridge Rd. The building, which consists of approximately 30,000 square feet of gross leaseable area, houses 26 tenant units and offers 125 parking spaces. The office is situated 1 block from the Parma General Community Hospital. Grubb & Ellis Healthcare REIT acquired Medical Portfolio 4 from affiliated entities of The Cirrus Group LLC. The Cirrus Group LLC was represented by James Moloney and Joe Dominguez of Cain Brothers RE LLC. Financing for this acquisition was primarily provided by Bank of America N.A.

October 2, 2008

Northeast Office

CBRE SECURES $31.9 MILLION LOAN FOR INDUSTRIAL PARK

by admin October 2, 2008

CHERRY HILL, N.J. — CB Richard Debt & Equity Finance (CBRE) has secured $31.9 million in variable- and fixed-rate financing for the acquisition of Cherry Hill Business Center, a 782,446-square-foot industrial park located along Springdale Road in Cherry Hill. Comprising 16 buildings, the park includes warehouse, office, flex, retail and showroom space. It is currently 92 percent leased to a tenant roster that includes International Paper, Okidata America, Commerce Bank, Dal-Tele Corp. and Cooper Lighting. James Gunning and Donna Falzarano originated the loan on behalf of the borrower, Principal Real Estate Investors. Terms of the financing were not disclosed.

October 2, 2008

Northeast Office

SUMMIT COMPLETES $2.25 MILLION OFFICE/FLEX SALE

by admin October 2, 2008

WHITEHALL, PA. — Allentown, Pa.-based Summit Management & Realty Co. has completed the sale of a 17,352-square-foot office/flex building located at 3724 Crescent Court in Whitehall. The property traded in a $2.25 million transaction to Logisol LLC, the U.S. subsidiary of Italy-based medical company Guna S.p.a. Mike Shelton of Summit represented the seller, which was undisclosed.

October 2, 2008

Office Texas

GRUBB & ELLIS HEALTHCARE REIT BUYS FIVE-PROPERTY PORTFOLIO

by admin October 2, 2008

WAXAHACHIE, GREENVILLE AND CEDAR HILL, TEXAS — Santa Ana, Calif.-based Grubb & Ellis Healthcare REIT has acquired a five-building medical office portfolio known as Medical Portfolio 4. Three of the properties are located in Texas. The first is a two-story, approximately 48,000-square-foot building located at 1305 W. Jefferson St. in Waxahachie. The building is situated on approximately 4 acres of land on the campus of The Baylor Medical Center at Waxahachie. The second property is a two-story, approximately 43,000-square-foot building located at 4501 Joe Ramsey Blvd. in Greenville. It is situated on approximately 4 acres of land across the street from Presbyterian Hospital of Greenville. The third property is a single-story, approximately 25,000-square-foot building located at 950 E. Belt Line Rd. in Cedar Hill. It is situated on approximately 3.1 acres of land within close proximity to Methodist Charlton Medical Center. The other two properties in the portfolio include an approximately 78,000-square-foot medical office building located in Phoenix and an approximately 30,000-square-foot building located in Parma, Ohio. The portfolio was acquired from affiliates of The Cirrus Group, which was represented by James Moloney and Joe Diminguez of New York City-based Cain Brothers. The acquisition price was not disclosed.

October 2, 2008

Office Western

PSCU FINANCIAL SERVICES ACQUIRES OFFICE BUILDING FOR $25.4M

by admin October 2, 2008

PHOENIX — St. Petersburg, Fla.-based PSCU Financial Services Inc. has purchased Acxiom Building, which is located at 19825 N. 7th St. in Phoenix. Arkansas-based Acxiom Interim Holdings Inc. and Acxiom Corporation of Delaware sold the property for $25.4 million. Built in 2001, the building offers 97,372 square feet of office space. Additionally, a vacant parcel adjacent to the property can accommodate an approximately 150,000-square-foot property. PSCU plans to relocate to the new property in November. Blaine Black and Brian Black of Cushman & Wakefield represented PSCU in the transaction; Barry Rosensteel of PRIN Investments Real Estate Group represented Acxiom.

October 2, 2008

Office Western

NAI CAPITAL BROKERS TWO TRANSACTIONS

by admin October 2, 2008

MISSION HILLS AND VALENCIA, CALIF. — Lenny Cohen of NAI Capital has completed the sales of two properties in Mission Hills and Valencia for a combined consideration of approximately $3 million. In the first transaction, David Phung purchased a 5,506-square-foot office multi-use building located at 10216-10218 Sepulveda Blvd. in Mission Hills. Xyi*Str sold the property for $1.3 million. Cohen represented both parties in the transaction. In a separate deal, Cohen represented the buyer, Acrona Inc., in the acquisition of a 13,755-square-foot industrial building in Valencia. Located at 28745 Industry Dr., the property sold for $1.8 million. Craig Peters and Richard Ramirez of CB Richard Ellis represented the seller, Pac Ten Valencia Gateway Associates, in the transaction.

October 2, 2008

Northeast Office

JLL BROKERS 41,281-SQUARE-FOOT OFFICE PURCHASE

by admin October 1, 2008

WESTFIELD, N.J. — The New Jersey office of Jones Lang LaSalle (JLL) has brokered the acquisition of a Class A office building located in Westfield. The three-story, 41,281-square-foot building is located at 50 Cardinal Dr. and was purchased by Atlantic Container Lines, which plans to use the facility as its headquarters location. The property was constructed in 2006. Chris Conklin and J.C. Giordano of JLL represented Atlantic Container Lines; Frank Cotilla, also of JLL, will be providing project management and relocation services. The seller and purchase price were not disclosed.

October 1, 2008

Office Southeast

40,000-SQUARE-FOOT ORLANDO OFFICE BUILDING COMPLETE

by admin September 30, 2008

ORLANDO, FLA. — Altamonte Springs, Fla.-based Roger B. Kennedy Inc. has completed construction on the 40,000-square-foot Avalon Office Building, located in the Avalon Park community in Orlando. The $4.8 million project was designed by Orlando-based SchenkelShultz Architecture.

September 30, 2008

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