SALT LAKE CITY — The U.S. division of Sun Life Financial has acquired 28,517 square feet of space at a 13-story, 160,097-square-foot office tower located in downtown Salt Lake City. Sun Life now owns the entire building, which is located at 185 S. State St. At the time of acquisition, the property was 73 percent occupied. William Barres provided Sun Life’s in-house representation for the transaction. The acquisition price was not disclosed.
WASHINGTON, D.C. — Connecticut & K Associates is developing a 370,545-square-foot, Class A office building located at 1000 Connecticut Ave. in Washington D.C. The project will be LEED Gold-certified and was designed by Pei Cobb Freed & Partners. Building amenities include a rooftop deck and a state-of-the-art fitness center. Lead tenant, Arent Fox will occupy 255,000 square feet. David Lipson, Tom Fulcher, Art Greenberg and Adam Schindler of Studley’s Washington, D.C. office represented Arent Fox in the lease negotiations, and Audrey Cramer and Louis Christopher of Cushman & Wakefield represented the landlord. Construction is slated for completion in 2012.
WASHINGTON, D.C. — Corus Bank has provided a $72 million loan for the construction of a nine-story, 273,917-square-foot office building in Washington, D.C., to MR BP Office #1, LLC. The building is the first phase of the Half Street project, which is being developed by Monument Realty and its investment partners, MacFarlane and Lehman Brothers. Additionally, Lehman Brothers simultaneously closed a $12 million mezzanine loan for the project. The property is located at 55 M Street.
LAKE MARY, FLA. — Fonon Inc. has signed a 131,000-square-foot lease at 400 Rinehart Road in Lake Mary. The landlord, Humphrey Realty, was represented by Bill Parke and Sher Tolan of Carter, and the lessee was represented by Dale Clemens of Clemens Commercial Real Estate. The tenant, a high-tech manufacturer of laser and semi-conductor products, will utilize 100,000 square feet for office space and 31,000 square feet for manufacturing purposes.
CLAYTON, MO. — GE Real Estate has provided $36.5 million in acquisition financing for National City Center, an 18-story office tower located at 120 South Central in Clayton. The building, which was renovated in 1999, totals 295,634 square feet and includes a four-story parking garage. The 3-year, first-mortgage loan includes a $2.5 million hold back for future capital expenditures and tenant improvements. The borrower was an affiliate of Forester Properties.
NEW YORK CITY — Carlton Advisory Services has secured $215 million in acquisition and mezzanine financing for 1250 Broadway in Manhattan, New York City. The 39-story, 770,000 square-foot office tower is located on Broadway between W. 31st and 32nd streets. Carlton secured $175 million from a German lender and $40 million from a prominent REIT. The acquisition was closed on behalf of Norman Sturner of Murray Hill Properties and a large German opportunistic equity fund. Howard Michaels, Michael Campbell and Damien Wilson of Carlton arranged the financing.
OLD BRIDGE, N.J. — GE Real Estate has provided $30.65 million for the refinancing of Parkway 120, a five-story, Class A office building in Old Bridge. The 211,871-square-foot facility is located 10 miles south of the intersection of Interstate 287. The building is 79 percent leased to tenants such as Del Rey, Healthnet and VSNL. Vision Equities acquired Parkway 120 in 2001.
DALLAS/FORT WORTH, TEXAS — BH Properties has acquired nine office and retail properties in the Dallas/Fort Worth area from Puget of Texas for approximately $22 million. The portfolio, which totals 600,000 square feet, includes Midway Business Park and Cadiz Plaza in Dallas; the Comerica Building in Richardson, Texas; Polo Village in Grand Prairie, Texas; Walnut Plaza in Mansfield, Texas; Finley Plaza in Irving, Texas; Fairmeadows S/C in Duncanville, Texas; Metro Center in Euless, Texas; and Monterey Village in Bedford, Texas.
HOUSTON — The Shaw Group Inc. has renewed and expanded a lease for 312,564 square feet of office space at 1430 Enclave Pkwy. in Houston. The tenant expanded its lease by more than 106,516 square feet at the six-story, Class A office building, which is located within the Enclave Office Park. Eric Anderson and David Baker of Transwestern represented the landlord, Piedmont Office Realty Trust, in the negotiations. Bill Bosack and Wendi Little of GFM Real Estate represented the tenant.
HOUSTON — The Houston office of Holliday Fenoglio Fowler (HFF) has closed the sale of 675 Bering Dr., a 135,680-square-foot office building in Houston. The transaction included a six-level, 386-space parking garage. Dan Miller and Marty Hogan of HFF led the investment sales team on behalf of the seller, Goddar Investment Group. Griffin Partners 675 Bering LP acquired the property for an undisclosed amount. The eight-story office building is 70.2 percent leased to tenants such as First Investors, Foster & Associates and Café Express.
