HUNTERSVILLE, N.C. — Rosedale at Lake Norman Village has traded hands for $2.27 million in Huntersville. The 11,649-square-foot medical/office building is located at 10210 Hickorywood Hill Ave. A Cornelius, N.C.-based private investor acquired the property from a Denver, N.C.-based private investor. Robert Podewils of Sperry Van Ness’s Charlotte office represented the seller and Jeff Mullis and Eddie Blanton, also of Sperry Van Ness, represented the buyer in the transaction.
DALLAS — Jones Lang LaSalle (JLL) has brokered the sale of Galleria Towers I, II and III in Dallas. The Class A office buildings are located at 13355 Noel Rd. and total 1.4 million square feet. The towers range from 24 to 36 stories and adjoin the Galleria shopping mall and the Westin Galleria Hotel. Building amenities include conference facilities, a fitness center and an independently operated day care center. Occupancy is currently at 98 percent. John Alvarado, Jack Crews, Evan Stone and Kelly Branum of JLL represented the seller, Brooklyn-based Fortis Property Group. The property was acquired by Los Angeles-based Cannon Commercial. Terms of the transaction were not disclosed, but the deal was estimated to be worth more than $300 million.
MINNEAPOLIS — Wrightwood Capital has provided $17 million in acquisition financing for Renaissance Square, an 11-story office building located at 500 Nicollet Mall in Minneapolis. The historic building, which measures approximately 139,000 square feet, features a ten-story interior atrium with a skylight and retail space on the ground level. Wrightwood structured the 36-month loan for the borrower, RPD Catalyst, a real estate investment firm that has plans to renovate the facility. David Aaronson of Live Oak Capital arranged the transaction.
CAMBRIDGE, MASS. — Boston-based Colliers Meredith & Grew (CMG) has brokered the sale of a 148,116-square-foot biotechnology portfolio located in the Cambridgeport neighborhood of Cambridge for $90.5 million. The portfolio consists of four properties: a 48,000-square-foot building located at 185 Albany St.; a 48,000-square-foot property located at 195 Albany St.; a 37,116-square-foot property located at 149 Sidney St.; and a 15,000-square-foot building located at 148 Sidney St. The properties are all fully occupied by four tenants: the Massachusetts Institute of Technology (MIT), Cubist Pharmaceuticals, Shire Pharmaceuticals, and Acceleron Pharma. Lisa Campoli, Joe Flaherty, Tom Hynes and Nick Herz of CMG represented the seller, a private family trust, and procured the buyer, MIT.
SAN DIEGO — Sunroad Enterprises has completed the development of Sunroad Centrum 1, a 275,000-square-foot office tower in San Diego’s Kearny Mesa area. Located on Spectrum Center Boulevard, the tower is part of Sunroad Enterprises’ master-planned Sunroad Centrum community, which will include 1 million square feet of office space, more than 1,000 residential units and a 2-acre park. Designed by BPA Architecture Planning Interiors, the building features a metal, glass and stone exterior capped by a swooping rooftop architectural element. The developer also worked with San Diego LEED consultant Drew George & Partners to achieve a core and shell LEED rating for the building. The building also features subterranean parking with an ample 4/1000 parking ratio, an exercise gym with shower facilities, and outstanding signage and visibility. Mark Wayne, Eric Vann and Steve Wolf of Cushman & Wakefield are leasing the project.
POWAY, CALIF. — Craig Alan Jones and Janet Lee Jones have purchased the remaining 50 percent share of a 12,445-square-foot office building in Poway. Located at 12120 Tech Center Dr., the property sold for $1.2 million. Built in 1998, the two-story building is 100 percent leased to Dependable Plumbing and Century Publishing. Anthony Dedomenico and Pamela Dedomenico sold the property. Paul Lafrenz, Shauna Fick and Bill Dolan of CB Richard Ellis brokered the transaction.
CORALVILLE, IOWA — Ryan Companies US is advancing construction for BioVentures Center, a state-of-the-art, 80,000-square-foot office/lab/research facility in the University of Iowa Research Park. When the center is ready for occupancy in the fall, approximately one-half of the facility will be leased to the University of Iowa as incubator space with the remainder of the space available to other tenants. Scott Byers and Van Miller of NAI Iowa Realty Commercial are marketing the facility on behalf of Ryan Companies US.
NEW YORK CITY — Eastern Consolidated has brokered the sale of a 12-story office building, located at 29 W. 36th St. in the Midtowns Garment Center district of Manhattan, New York City, for $29 million. The building contains 82,000 square feet of office space. The buyer, Broadway 36th Realty, plans to upgrade the property and continue operation as an office building. Brian Ezratty and Scott Ellard of Eastern Consolidated represented the seller, Clemons Management Corp. Ezratty also procured the buyer.
PITTSBURGH — CBRE Capital Markets has arranged a $47 million loan for the refinancing of Two Chatham Center, a 16-story, Class A office tower located at 115 Washington Place in Pittsburgh. The property also includes a 6-story parking garage. The office building is 85 percent occupied, with a tenant roster that includes The University of Pittsburgh Medical Center, Travelers, Access Data Corp., The National Labor Relations Board and the U.S. Secret Service. The loan carries a 7-year term with a 30-year amortization, a competitive spread over the 7-year U.S. Treasury Security and a 60 percent loan-to-value ratio. Financing was arranged by Keith Braddish and Jason Gaccione of CBRE’s New York City office, and Jamie Shafer and Chris Sheedy of the firm’s Pittsburgh office.
CARLSBAD, CALIF. — Phase 3 Properties has acquired a 20,907-square-foot research and development (R&D) building in Carlsbad. Located at 6211 El Camino Real, the one-story building features a newly renovated mezzanine level with approximately 4,500 square feet of second-story office space. Joe Crotty and Ron King of Coldwell Banker Commercial Almar Group ONCOR International represented the seller, Kamay Investments LLC, in the transaction; Phase 3 Properties was self-represented.
