SAN DIEGO — Longfellow Real Estate Partners has purchased Creekside, a three-building office property located in San Diego’s Sorrento Mesa submarket. The price was not disclosed. The acquisition brings Longfellow’s San Diego portfolio to more than 660,000 square feet spanning 23 buildings in the Sorrento Valley and Sorrento Mesa submarkets. The company plans to immediately convert 60,000 square feet of existing vacancy and eventually transition the entire 124,473-square-foot campus into state-of-the-art lab space. Creekside is part of Longfellow’s SOVA Science District campus — throughout which Longfellow is completing campus façade enhancements and an outdoor amenity space featuring murals by local artists that will be unveiled this fall. Creekside tenants will also have access to Elevate, Longfellow’s proprietary tenant amenities and hospitality offerings, including a fitness center, brewery, restaurant, coffee shop, programs and services. Louay Alsadek and Hunter Rowe of CBRE and Chris High and Steve Bruce of Newmark Knight Frank assisted with the transaction. Newmark Knight Frank will continue to represent Creekside as leasing agent for Longfellow.
MCKINNEY, TEXAS — Developer KDC has completed a 100,000-square-foot corporate campus in McKinney for building materials supplier SRS Distribution Inc. The property is located within the Hub 121 mixed-use development and is expected to house about 150 employees. Construction on the four-story, Class A building, which offers indoor and outdoor amenity space, began in March 2019. Gensler designed the project, and Adolfson & Peterson served as the general contractor.
PITTSBURGH — Dollar Bank, a regional lender serving Pennsylvania, Ohio and Virginia, has signed a 76,000-square-foot lease for its new office headquarters in Pittsburgh. The company will relocate from Gateway Center to a building located at 20 Stanwix St., which offers amenities such as a fitness center, conferencing facility and indoor and outdoor tenant lounges. Under the terms of the 16-year lease, Dollar Bank will occupy four floors and a ground-floor reception suite beginning in the first quarter of next year.
SACRAMENTO — RevOZ Capital has formed a joint venture with Argosy Real Estate Partners to purchase a 127,000-square-foot office property located at 660 J St. in downtown Sacramento. SG Downtown LLC, an affiliate of the Sacramento Kings ownership group, sold the building for an undisclosed price. The joint venture plans to rehabilitate and re-image the four-story building into a mix of office and retail space to complement the recently completed Downtown Commons (DoCo) sports and entertainment district. Renovation plans include redesigning the building to LEED-certification standards, re-skinning the building’s exterior, recreating a lobby, adding on-site amenities, creating new outdoor space, updating restrooms and modernizing building systems. LPA is serving as architect and Cushman & Wakefield will market the property upon completion in late 2021.
PURCHASE, N.Y. — Newmark Knight Frank (NKF) has negotiated a 25,000-square-foot office lease for law firm Milber Makris Plousadis & Seiden LLP at 100 Manhattanville Road in Purchase, located north of New York City in Westchester County. The four-story building spans 290,631 square feet, is situated on 23.8 acres and features a full-service cafeteria, fitness center and a concierge desk. Patricia Valenti of NKF represented the tenant in the lease negotiations. Lawrence Ruggieri, also with NKF, represented the landlord, RPW Group Inc.
BASKING RIDGE, N.J. — Mendham Capital Management, an affiliate of Raymond James, has signed a 3,243-square-foot office lease extension in the Northern New Jersey city of Basking Ridge. Rick Genthe and Sean O’Brien of Lincoln Property Co. represented the landlord, CIG Properties, in the lease negotiations. Lee Barnes of Woodman Group represented the tenant.
FARMERS BRANCH, TEXAS — Los Angeles-based CIM Group has provided a $190 million bridge loan for the refinancing of International Plaza, a 780,000-square-foot office campus located in the northern Dallas metro of Farmers Branch. The Class A property consists of a 13-story building and a 15-story building that were recently upgraded to offer new indoor and outdoor amenities. Rob Rubano, Greg Napper and Brian Share of Cushman & Wakefield arranged the loan, which was structured with a five-year term and a floating interest rate. The borrower, Taconic Capital Partners, acquired the asset in 2018.
ALLEN, TEXAS — Kaizen Development Partners has completed One Bethany West, a 200,000-square-foot office building in the northeastern Dallas suburb of Allen. One Bethany West is the third office building in the One Bethany at Watters Creek development, which consists of two completed buildings totaling 300,000 square feet and the capacity for an additional 600,000 square feet of new development. BOKA Powell designed the eight-story property, which offers amenities such as a fitness center, conferencing center, tenant lounge, golf simulator and outdoor activity space. Highlands Residential Mortgage recently signed a lease to become the inaugural tenant.
FORT WAYNE, IND. — Sturges Property Group has brokered the sale of a 4,296-square-foot office building located at 608 Union Chapel Road in Fort Wayne. The sales price was undisclosed. Neal Bowman and Phil Hagee of Sturges represented the seller, Nolan Commercial Property, as well as the buyer, Professional Emergency Physicians.
ALTAMONTE SPRINGS, FLA. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the $28 million sale of North Lake Business Park, a 15-building office campus in Altamonte Springs. The property comprises 270,000 square feet and was 90 percent leased at the time of sale to a mix of technology, real estate and healthcare tenants. North Lake Business Park is situated on 29 acres at 600 Northlake Blvd., 11 miles north of downtown Orlando. Douglas Mandel of IPA represented the seller, Real Capital Solutions, in the transaction. Mandel also procured the buyer, Taurus Investment Holdings LLC.