MILWAUKEE — Brewery Project LLC has completed the sale of Building 14 at the former Pabst Brewery located in downtown Milwaukee to Milwaukee-based BC Pabst Holdings. The three-story building, which was formerly the research lab building, contains 28,000 square feet of space, as well as a 1,200-square-foot penthouse with city skyline views. The owner plans to convert the space into an office building, with the penthouse being converted into a conference room. Mike Kleber of Milwaukee-based Towne Investments brokered the transaction. BC Pabst Holdings is a collection of local real estate developers, including Matt Chmura, Mark Chmura and Sonny Bando. Building 14 is the fourth building sold in the Brewery Project, which encompasses the redevelopment of the historic Pabst Brewery. The acquisition price was not disclosed.
Office
WOODBRIDGE, CONN. — The Boston office of CBRE | Capital Markets has arranged on behalf of the borrower, APCA Woodbridge, $4.9 million in acquisition financing for 1764 Litchfield Turnpike in Woodbridge. The 49,790-square-foot Class A office building is known as Woodbridge Corporate Center. Situated on a 7.95-acre lot, the multi-tenant building is 95 percent occupied and provides access to major transportation routes. Michael Prakken and Deborah Dalton of CBRE | Capital Markets secured financing for the borrower, an affiliate of Boston-based Ashforth Paradigm Capital Advisors. Equitrust Life Insurance Co. arranged the 5-year, fixed-rate, non-recourse loan.
AUSTIN, TEXAS — Stream Realty Partners has acquired a 97,594-square-foot office property in Austin. Located at 8100 Cameron Rd., the property features two, two-story buildings. The buyer was represented in-house by Derek Land, and Walter Saad and Cathy Nabours of CBRE private client group represented the undisclosed seller. The buyer plans to renovate the lobby and common areas. The acquisition price was undisclosed.
SANTA ANA, CALIF. — Meridian Value Partners has acquired The Arbors, a 50,812-square-foot office complex located at 2101 E. Fourth St. in Santa Ana, for $9.3 million. The two-story, multi-tenant complex sold at a cap rate of 6.18 percent. Ryan Gallagher of Grubb & Ellis represented the buyer; Greenwood & McKenzie represented the seller, Arbors Tenant in Common Group, in the transaction.
JACKSONVILLE, FLA. — Birmingham, Ala.-based BP Graham has acquired a 220,000-square-foot office building in Jacksonville for $22.3 million. The 14-story, Class A building is located at 550 Water St. and features a deli, on-site parking and views of downtown and the St. Johns River. Tenants include Verizon, Interline Brands, Blue Cross/Blue Shield and MCI. Peter Crolius of Hollywood, Fla.-based Graham & Co./CORFAC International represented the buyer. Lou Nutter of CB Richard Ellis represented the undisclosed seller.
KANSAS CITY, MO. — Chicago-based ORIX Real Estate Capital has acquired a 94,846-square-foot office building located at 300 Wyandotte Ave. in Kansas City. The building features floor-to-ceiling glass windows, exterior aluminum sunscreens and a 388-space underground parking garage. The building is anchored by sports architecture firm HOK Sports, which occupies 81 percent of the fully leased building. Eric Wollan and Brian Murphy arranged the acquisition for ORIX in-house; Eric Berkman of Grubb & Ellis’ Washington D.C. office represented the seller, Opus Estates, in the transaction. The acquisition price was not disclosed.
LYNNWOOD, CALIF. — Wells Fargo REIT II has acquired Northpointe Corporate Campus, a new two-building Class A office development located on 25th Avenue in Lynnwood. The property consists of an approximately 87,000-square-foot facility, which is 100 percent leased to Comcast, and a 69,000-square-foot building. Cushman & Wakefield represented the seller, Opus Northwest LLC, in the transaction. The acquisition price was not disclosed.
PORTLAND, ORE. — KBS REIT has acquired ADP Plaza, a two-building office campus located at the intersection of First Avenue and Sheridan Street in downtown Portland, for $33.1 million. The two four-story buildings offer a total of 180,772 square feet and feature a 117,614-square-foot parking garage. Built in 1981, the property is 91 percent occupied by two tenants. Automatic Data Processing (ADP), for which the plaza is named, occupies 115,180 square feet, and Oregon Health and Science University occupies 48,506 square feet.
COLORADO SPRINGS, COLO. — SVN Equities has acquired Academy Point Service Center, a two-building, 77,000-square-foot office/flex property located at 1030 and 1050 S. Academy Dr. in Colorado Springs, for $5 million. At the time of acquisition, the property was 84 percent leased to tenants, including GSA, Lockheed Martin and BAE Systems. Kurt Holzkamp and Ed Bartlett of SVN Colorda LLC represented the buyer; Chris Bodnar, Geoff Baukol, Chad Brue and Ron Urgitus of CB Richard Ellis represented the seller, Illinois-based CMD Realty Investment Fund III LP, in the transaction.
TOWN AND COUNTRY, MO. — The St. Louis office of Clayco has been selected as the design/builder for the shell and core of a three-story, 80,000-square-foot office building located at the intersection of South Outer 40 and Maryville Centre drives in Town and Country. 825 Maryville will be a Class A office building that can accommodate single or multiple tenants. The building will feature offices with garden views, as well as a lobby that will feature an ornamental, glass staircase. Construction began in October, with completion scheduled for next summer. Forum Studio Inc. is serving as project architect.