Office

Miramar Property Investment Co. Sells Two Office Assets in Malibu for $17.5M

by Amy Works June 2, 2020

MALIBU, CALIF. — Miramar Property Investment Co. has completed the sale of two office buildings located within Malibu Professional Park in Malibu. Wave Enterprises, a 501(c)(3) charitable entity of Pepperdine University, acquired the assets for $17.5 million. Located at 23805 and 23815 Stuart Ranch Road, the buildings offer a total of 39,615 square feet. At the time of sale, the properties were nearly 85 percent leased to a variety of office and medical tenants, including UCLA Medical, Pepperdine University and various local business firms. Tony Dorn of Beitler Commercial Realty, along with A.J. Dorn of Newmark Knight Frank, represented the seller in the deal.

June 2, 2020

Loans Office Texas

NorthMarq Arranges $15.3M CMBS Loan for Refinancing of Atrium Office Building in San Antonio

by Taylor Williams June 2, 2020

SAN ANTONIO — NorthMarq has arranged a $15.3 million CMBS loan for the refinancing of The Atrium, a 132,113-square-foot office building located at 85 N.E. Loop 410 in San Antonio. The Class B property is located near San Antonio International Airport in the city’s North Central submarket. Goldman Sachs provided the loan, which carries a 10-year term and a 30-year amortization schedule. The borrower was not disclosed. Bryan Leonard of NorthMarq handled the transaction.

June 2, 2020

Development Midwest Office Ohio

Coworking Concept COhatch to Open Second Cincinnati Location in Hyde Park

by Kristin Harlow June 2, 2020

CINCINNATI — COhatch is expanding its Cincinnati presence to Hyde Park. The coworking startup has purchased a 13,000-square-foot building at 2727 Erie Ave. for $2 million and plans to repurpose the three-story property to house coworking and event space. COhatch will occupy the second and third floors of the building. Italian and Argentine restaurant Alfio’s Buon Cibo will continue to occupy the first floor. North High Brewing Co. will move into an adjacent first-floor space that Keegan’s Seafood Market previously leased. COhatch expects to open the Hyde Park facility in the fall. It will predominantly feature private offices along with a handful of meeting rooms. The company’s Deerfield Towne Center location is slated to open in July. There are currently 15 COhatch locations open or under development in the Midwest.

June 2, 2020

Features Office

How Office Spaces Will be Designed Differently in a Post-COVID-19 World

by Alex Tostado June 2, 2020

With several states reopening in the midst of the COVID-19 outbreak, JBG Smith has released its “Healthy Workplace Blueprint,” a new design for the company’s offices as tenants return to work. The Healthy Workplace Blueprint focuses on health and safety measures related to cleaning and sanitation, indoor air quality, social distancing and tenant communications. JBG Smith, which owns and operates several properties in and around Washington, D.C., has been working with federal, state and local health authorities to design this blueprint. Upon arrival at a JBG Smith-owned office building, employees can expect to see doors for entrances and exits clearly marked, a two-person maximum for elevator cabs, decals on the floors of the elevators for where they should stand, staircases labeled whether they are for ascending or descending, and signage throughout the lobby reminding people to stay six feet apart. “The health and well-being of our tenants, employees, vendors and building visitors has been one of JBG Smith’s top priorities,” says Matt Kelly, CEO of JBG Smith. “Our goal in producing and publishing Healthy Workplace Blueprint is to create an even safer environment, ensure that all stakeholders are informed about what we are doing from an operational standpoint, and educate …

June 2, 2020

Development Massachusetts Northeast Office

WuXi Biologics Plans $60M Office Project in Worcester, Massachusetts

by Alex Patton June 1, 2020

WORCESTER, MASS. — Chinese biomanufacturing company WuXi Biologics will develop a $60 million office project in Worcester, approximately 45 miles west of Boston. The 107,000-square-foot building will anchor a 46-acre master-planned biomanufacturing campus called The Reactory, a 470,000-square-foot redevelopment of a site formerly occupied by Worcester State Hospital. Worcester Business Development Corp. (WBDC) sold the 7-acre parcel of land to WuXi for $1.5 million. Brian Cohen, Chris McCauley and Colin Coughlin of CBRE represented WuXi Biologics in the transaction. Jim Umphrey and Drew Higgins represented WBDC. WuXi expects the facility to be operable in 2020.

June 1, 2020

Leasing Activity New York Northeast Office

Cushman & Wakefield Negotiates 7,263 SF Office Lease in Manhattan

by Alex Patton June 1, 2020

NEW YORK CITY — Cushman & Wakefield has negotiated a 7,263-square-foot office lease for portfolio management firm Axium Infrastructure Inc. in the Plaza District of Manhattan. Axium leased the entire 21st floor of 527 Madison Avenue, an approximately 240,000-square-foot office building. The 26-story building was constructed in 1986. Jim Frederick and Gordon Hough of Cushman & Wakefield represented the landlord, Mitsui Fudosan America Inc., in the lease negotiations. CBRE represented Axium.

June 1, 2020

Acquisitions Maryland Office Southeast

Merritt Properties Acquires 165,000 SF Office Campus in Metro Baltimore

by Alex Tostado June 1, 2020

ELKRIDGE, MD. — Merritt Properties has acquired The Lyndwood Executive Center, a two-building, 165,000-square-foot office campus in Elkridge. BentallGreenOak’s U.S. Core Fund sold the buildings for an undisclosed amount. The assets were 98 percent leased at the time of sale to 14 tenants. The Lyndwood Executive Center is located at 6085-6095 Marshalee Drive, 14 miles southwest of downtown Baltimore. Jonathan Carpenter and Graham Savage of Cushman & Wakefield represented the seller in the transaction.

June 1, 2020

Acquisitions Loans Office Southeast Virginia

Phillips Realty Capital Arranges $29M Acquisition Loan for Office Building in Northern Virginia

by Alex Tostado June 1, 2020

RESTON, VA. — Phillips Realty Capital has arranged a $29 million acquisition loan for Reston Metro Center One, a 124,076-square-foot office building in Reston. The property is located at 12120 Sunrise Valley Drive, which is within walking distance of the planned Reston Town Center Silver Line Metrorail Station and 22 miles west of downtown Washington, D.C. The asset was built in 2000 and its amenities include a lounge area and a fitness center. The building was vacant at the time of sale. Malcolm Shaw, Steve Shaw, Harmon Handorf and Bill Wrench of Phillips Realty arranged the loan on behalf of the borrower, HighBrook Investors. Rubenstein Mortgage Capital, the debt investment platform of Rubenstein Partners LP, provided the floating-rate loan. The seller was not disclosed.

June 1, 2020

Acquisitions California Healthcare Office Western

IRA Capital Acquires 64,000 SF Medical Office Building in Los Angeles County

by Amy Works June 1, 2020

COVINA, CALIF. — Southern California-based IRA Capital has purchased a medical office building located in Covina for an undisclosed price. The name of the seller was not released. Magan Medical occupies the 64,000-square-foot property, which houses more than 50 physician providers across 20 specialties, including oncology, neurology, dermatology, radiology and cardiology. OptumCare, a wholly owned subsidiary of UnitedHealthcare, recently acquired the tenant. As part of the integration into the OptumCare/UnitedHealth network, the building underwent extensive renovation and capital improvements.

June 1, 2020

Acquisitions Arizona Office Western

Visionary Holdings Buys Office Space in Tucson for $2.8M

by Amy Works June 1, 2020

TUCSON, ARIZ. — Visionary Holdings has acquired an office space located at 7470 N. Oracle Road, Suite 100, within Oracle-Ina Professional Plaza in Tucson, for $2.8 million. The condominium features 14,000 square feet of Class A medical and professional office space. Richard Kleiner and Thomas Nieman of Cushman & Wakefield | PICOR represented the seller, 7470 N Oracle Rd LLC, while Andrew Sternberg of NAI Horizon, Tucson, represented the buyer in the deal.

June 1, 2020

Newer Posts

Older Posts