FORT WAYNE, IND. — Bill Bean of Hanning & Bean Enterprises has acquired the Metro Building, a 132,216-square-foot office building located at 202 W. Berry St. in downtown Fort Wayne. The building marks Bean’s third downtown office acquisition, and he plans to complete major capital improvements to the property, including significant façade and interior renovations. CB Richard Ellis | Sturges will provide leasing and property management services. The acquisition price, as well as the seller, was undisclosed.
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NEW YORK CITY — Carlton Advisory Services has arranged $92 million in senior debt and mezzanine financing for the acquisition of 511-541 W. 25th St. The 158,908-square-foot property, which is located in the Chelsea area of Manhattan, New York City, was purchased by the Cardinal Investment Group. The loan was placed by Michael Campbell, Steve Fenster and Steven Rock of Carlton.
SAN ANGELO and SCHERTZ, TEXAS — CB Richard Ellis (CBRE) has finalized the sale of two office buildings located in San Angelo and another located in Schertz on behalf of San Antonio-based Atlee Development. The properties are part of a seven-building office portfolio. The San Angelo buildings — San Angelo Regional Medical Center #1 and #2 located at 3501 Knickerbocker Rd. — were built in 2004 and are both 21,292 square feet. The property in Schertz, located at 5000 Baptist Dr., is a 19,825-square-foot building completed in 2005. Montecito Medical Investment Co. purchased the portfolio.
PHOENIX — Aslan Realty Partners III, a partnership led by California-based Transwestern, has purchased Anchor Centre, a two-building office complex located at 2201 and 2231 E. Camelback Rd. in Phoenix. 2201 Camelback Associates LLC, a partnership led by Denver-based Alliance Commercial Partners, sold the property for $96 million. Built in the early 1980s, the 333,265-square-foot property was 89 percent leased to a variety of tenants, including Starwood Hotels, Northwestern Mutual, JP Morgan Chase Bank and Ruth’s Chris Steakhouse, at the time of acquisition. Chris Toci, Ted Harrison, Larry Downey and Jerry Jacobs of Cushman & Wakefield brokered the transaction.
WASHINGTON, D.C. — Bill Asbill, Bob Donhauser and Cary Abod of Holliday Fenoglio Fowler’s Washington, D.C. office have arranged a $104 million, 36-month construction loan on behalf of Carr Properties for the development of 901 K Street, a 261,000-square-foot office building in Washington, D.C.’s central business district. A consortium of banks facilitated the loan, including; Wells Fargo, as administrative agent; PNC Bank National, as syndication agent; US Bank National; and Chevy Chase Bank. The Class A office building will feature 12 stories of LEED-certified space along 10th and K St. and Massachusetts Ave.
ROCKVILLE, MD. — Bethesda, Md.-based Washington Property Company has broken ground on The Summit at Washingtonian, a two-building complex in Rockville. Completion of the first phase, an eight-story, 200,000-square-foot LEED-certified office building and adjacent parking structure, is scheduled for March 2009. The project is located at the intersection of Interstate 270 and Shady Grove Rd. Wisnewski Blair & Associates are the project architect.
JERSEY CITY, N.J. — AXA Equitable Life Insurance has leased 244,000 square feet of office space in the Newport Tower in Jersey City. Located at 525 Washington Blvd., the 36-story tower is owned by Brookfield Properties. Raymond Sanseverino and Dana Rosenthal of Loeb & Loeb represented Brookfield in the negotiations, and AXA was represented by Stroock & Stroock & Lavan.
BOSTON — Cushman & Wakefield has brokered the $4.85 million sale of 50 Redfield St. in Boston. The 43,380-square-foot office building is located in the Neponset section of Boston. Robert Griffin, Jr., Richard Putprush, David Pergola, Christopher Griffin and Brian Doherty of Cushman & Wakefield represented the seller, Eastport Harbor, and procured the buyer, Mayo Group, in the transaction.
SANTA ANA, CALIF. — Equitable Orange County Office Building LLC has purchased a 58,566-square-foot office building in Santa Ana for $7.8 million. Located at 900 N. Broadway, the building is occupied by the Orange County District Attorney and local attorneys and real estate firms. At the time of acquisition, the property was 90 percent leased. Gil Marrero, Alan Pekarcik, Dan Vittone and Jeff Williams of Voit Commercial Brokerage’s Irvine, Calif., office represented the buyer and the seller, 900 North Broadway LLC, in the transaction.
TUSTIN, CALIF. — PI Properties No. 19 LP has acquired Tustin Business Center, a 44,948-square-foot office complex located at 17802-17842 Irvine Blvd. in Tustin, for $7 million. Built in 1972, the two-building, two-office complex is situated on two legal parcels totaling more than 2 acres. Michael Lawrence of Marcus & Millichap represented the seller, Tustin Business Center LP, in the transaction; Gregory Harris and Andrew Hodac, also of Marcus & Millichap, represented the buyer.