Office

Colliers Brokers Sale of 190,830 SF Office Building in North Dallas

by Taylor Williams January 13, 2021

DALLAS — Colliers International has brokered the sale of 7920 Belt Line Road, a 190,830-square-foot office building in North Dallas. The property was built in 1983 and recently received $2.3 million in capital improvements. Creighton Stark and Chris Boyd of Colliers International represented the seller, a partnership between Pillar Commercial and Blue Vista Capital Management, in the transaction. New Orleans-based Uhalt Investments purchased the property for an undisclosed amount. The sale included an adjacent medical pad site for potential future development.

January 13, 2021

Healthcare Leasing Activity Office Texas

Southwestern Health Resources Signs 150,000 SF Office Lease in Metro Dallas

by Taylor Williams January 13, 2021

FARMERS BRANCH, TEXAS — Regional healthcare provider Southwestern Health Resources has signed a 150,000-square-foot lease at Browning Place, a 627,560-square-foot office complex in the northern Dallas metro of Farmers Branch. Amenities at the complex include an onsite bank branch, jogging trail, café and a fitness center. Duane Henley of Transwestern represented the landlord, Browning Place LLC, in the lease negotiations. Paul Whitman and Pat McDowell with JLL represented the tenant.

January 13, 2021

Acquisitions Colorado Office Western

Cushman & Wakefield Negotiates $11M Sale of Multi-Tenant Office Building in Colorado Springs

by Amy Works January 13, 2021

COLORADO SPRINGS, COLO. — Cushman & Wakefield has arranged the sale of an office property located at 1670 Newport Road in Colorado Springs. Cleveland-based Boyd Watterson Asset Management acquired the asset from Denver-based Flywheel Capital for $11 million. Located at 1670 Newport Road, the 67,640-square-foot, multi-tenant property recently underwent interior renovations, as well as significant improvements to select tenant spaces. Aaron Johnson, Jon Hendrickson and Mitch Veremeychik of Cushman & Wakefield’s Denver Capital Markets team represented the seller in the transaction.

January 13, 2021

Acquisitions Industrial North Carolina Office Southeast

Cushman & Wakefield Brokers $18.5M Sale of Four-Building Flex Property in Charlotte

by Alex Tostado January 12, 2021

CHARLOTTE, N.C. — Cushman & Wakefield has brokered the $18.5 million sale of Northridge Business Center, a four-building office and warehouse property in Charlotte. The buildings total 174,506 square feet and are situated at 5005-5035 W. W.T. Harris Blvd. in Charlotte’s West Sugar Creek neighborhood. Northridge Business Center was 92 percent leased at the time of sale. Nolan Ashton and Rob Cochran of Cushman & Wakefield represented the seller, SkyREM, in the transaction. SunCap Opportunity Fund LLC, a privately held, national commercial real estate investment firm, acquired the property.

January 12, 2021

Acquisitions Kansas Midwest Office

Newmark Zimmer Arranges Sale of 56,994 SF Office Building in Overland Park, Kansas

by Kristin Harlow January 12, 2021

OVERLAND PARK, KAN. — Newmark Zimmer has arranged the sale of a 56,994-square-foot office building in Overland Park for an undisclosed price. The multi-tenant property is located at 8300 College Blvd. Michael VanBuskirk, Chris Robertson, Nick Suarez and TJ Wahl of Newmark Zimmer negotiated the transaction. A private investor sold the asset to Nashville-based Excelsior Capital. With this transaction, Excelsior has expanded its portfolio to more than 360,000 square feet of office space in the Kansas City market.

January 12, 2021

Acquisitions Healthcare Life Sciences Office Texas

Lexicon Pharmaceuticals Sells 260,950 SF Life Sciences Campus in Metro Houston

by Taylor Williams January 12, 2021

THE WOODLANDS, TEXAS — Biopharmaceutical firm Lexicon Pharmaceuticals has sold its 260,950-square-foot life sciences campus in The Woodlands, about 30 miles north of Houston. The campus comprises five buildings. Dan Boyles and Jon Silberman of NAI Partners represented Lexicon Pharmaceuticals, which is relocating to another property in The Woodlands, in the deal. The name and representative of the buyer were not disclosed.

January 12, 2021

Acquisitions California Industrial Office Western

Faris Lee Brokers $4.7M Acquisition of Value-Add Office/Industrial Property in Orange County

by Amy Works January 12, 2021

MISSION VIEJO, CALIF. — Faris Lee Investments has arranged the purchase of a vacant flex office/industrial building located at 23311 Madero in Mission Viejo. A Beverly Hills-based company acquired the property for $4.7 million in an all-cash transaction. The buyer plans to redevelop the site and market it for a long-term user. Tom Chichester and Nick D’Argenzio of Faris Lee Investments represented the buyer in the transaction.

January 12, 2021

Acquisitions Civic Office Oklahoma Texas

Tanenbaum Equity Partners Buys Portfolio of Government-Leased Office Properties for $106.5M

by Taylor Williams January 11, 2021

OKLAHOMA CITY — Tanenbaum Equity Partners (TEP), a subsidiary of Oklahoma City-based Gardner Tanenbaum, has purchased a portfolio of 42 federally leased properties in 11 states for $106.5 million. Most of the buildings, which collectively total 573,000 square feet, were constructed as build-to-suits for government agencies such as the Social Security Administration, the Department of Homeland Security and the Veterans Administration. A Dallas-based team of Sunny Sajnani, Todd McNeill and Brandon Wilhite of Marcus & Millichap Capital Corp. arranged acquisition financing through Arkansas-based Centennial Bank on behalf of TEP. A Colliers International team led by Geoff Ficke represented TEP in the sale. The seller was CoreCivic, according to the Nashville Business Journal.

January 11, 2021

Loans Office Texas

JLL Arranges Refinancing of Two Houston Office Buildings Totaling $40M

by Taylor Williams January 11, 2021

HOUSTON — JLL has arranged two loans totaling $40 million for the refinancing of 5300 Memorial and 10497 Town & County, two office buildings totaling 302,980 square feet in Houston. The properties respectively span 153,671 and 149,309 square feet and were 93 and 91.5 percent leased at the time of the loan closings. John Ream led a JLL team that arranged the floating-rate financing through East West Bank on behalf of the borrower, metro Philadelphia-based Equus Capital Partners.

January 11, 2021

Acquisitions Office Texas

Menlo Properties Acquires 136,075 SF Office Complex in Southwest Austin

by Taylor Williams January 11, 2021

AUSTIN, TEXAS — California-based Menlo Properties has acquired 7000 West at Lantana, a 136,075-square-foot office complex in southwest Austin. The property was built in 1999 as part of the Lantana master-planned community. Dallas-based Starwood Capital Group sold the asset for an undisclosed price. Mike McDonald, Ryan Stevens and Celeste Fowden of Cushman & Wakefield brokered the deal.

January 11, 2021

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