DEERFIELD BEACH, FLA. — Pennsylvania-based Seagis Property Group has acquired a 92,000-square-foot, 5.6-acre facility via a sales-leaseback transaction in Deerfield Beach, from Doormark, Inc., for $8 million. The property is located at 400 Goolsby Blvd. in northern Broward County. JC Conte of Staubach’s Miami office was the sole broker in the sales transaction.
NORTHBROOK, ILL. — CWCapital has provided a $46.5 million loan for the refinancing of Corporate Center I and II in Northbrook. The properties consist of two Class A office buildings totaling 255,837 square feet. They are currently 99 percent leased; anchor tenants include Potash and Merrill Lynch. The loan, which was originated by Patrick McNulty of CWCapital, is for a 5-year term at a fixed rate, and was financed through the company’s Capital Markets Group.
KING OF PRUSSIA, PA. — U.S. Realty Capital (USRC) has arranged a $14 million first mortgage for the refinancing of a multi-tenant office facility in suburban King of Prussia. The facility is located off North Gulf Road. The loan has a 15-year fixed rate term with a 20-year amortization schedule. The loan was funded by a life insurance company. The borrower was undisclosed.
SAN ANTONIO — Buchanan Street Partners has negotiated a $20.4 million financing package for the development of Stone Oak Centre, an 81,560-square-foot office and retail property in San Antonio. The project, which is located along Stone Oak Parkway, includes five Class A, two-story office buildings and two retail buildings. Buchanan Street Partners structured a $15.5 million construction loan and arranged $4.92 million in equity with third-party investor Ascent Real Estate Advisors. The financing was arranged on behalf of the developer, M.S. Walker & Associates. Construction is slated to begin this summer on Stone Oak Centre, which is expected to be fully leased by January 2009.
YORK COUNTY, N.C. — Koll Development Co. has built Intellicenter-Charlotte, a 150,000-square-foot, three-story office building in York County, located at the southeast corner of Interstate 77 and Gold Hill Road. Daimler Trucks North America has signed an 11-year lease for the building and will occupy the property in July. The facility will house a small contingency of Daimler’s Portland, Ore.-based sales and marketing employees. Construction began last July. The project architects were Forum Studio and Gensler.
SKOKIE AND CHICAGO, ILL. — Chicago-based Transwestern Realty Finance Partners has closed on two loans totaling $13.5 million for an office property in Skokie and a multifamily property in Chicago. An $8.5 million mezzanine loan was secured for Old Orchard Towers, a 349,814-square-foot Class B office complex located in Skokie. The sponsor was Zeller Realty Group. Additionally, $5 million in mezzanine financing was arranged for MDA City Apartments, located at the corner of Lake and Wabash streets in Chicago. The former office building was repositioned in 2006 as a high-end, multifamily property. Terms of the two loans were not disclosed.
BUFFALO, N.Y. — The Rose Hill Group has arranged $6.6 million in permanent financing for a multi-tenant office building located on the waterfront in downtown Buffalo. The 139,844-square-foot project is part of the Waterfront Village Center, which overlooks the Erie Basin Marina/Lake Erie. Tenants include Travelers Insurance and M/E Engineering. Financing was arranged by Daniel Monte of the Rose Hill Group for the undisclosed borrower. Funding was provided by Delaware Investments, a correspondent life insurance company.
SAN MATEO, CALIF. — Transwestern Realty Finance Partners LLC has closed a $25 million mezzanine loan for San Mateo Executive Park, which is located off Highway 92 between Highway 101 and Interstate 280 in San Mateo. The five-building office park totals 261,000 square feet. Transwestern’s investment was made on behalf of Transwestern Mezzanine Realty Partners III LLC, a fully discretionary investment fund with more than $300 million in capital.
CHICAGO — Chicago-based companies Golub & Co. and Sterling Business Center have leased the 15th floor of 22 West Washington in Chicago to SKG Partners, which will use the space as the firm’s North American headquarters. The tenant will occupy 29,450 square feet of the new tower, which is under development by affiliates of Golub & Co. The length of the lease was for 9 years; J.F. McKinney & Associates assisted in negotiations.
HAMILTON TOWNSHIP, N.J. — The Fruscione Company has completed construction of 300 Clocktower Dr., a 64,750-square-foot office building in the Hamilton Clocktower Corporate Center in Hamilton Township. The new facility is the first building to be completed within the three-building, 27-acre office complex. Upon completion, the center will offer 172,000 square feet of office space. Milt Charbonneau of Colliers Houston has completed the first lease within the new building — an 18,000-square-foot lease by Princeton Healthcare Systems.