Office

Walker & Dunlop Arranges $8M Refinancing for Orange County Office Property

by Amy Works August 3, 2020

TUSTIN, CALIF. — Walker & Dunlop has secured a $8 million loan for the refinancing of Pointe Red Hill, a single-tenant office building located in Tustin. The borrower is Fortland Inc. Symetra Life Insurance Co. provided the 10-year, fixed-rate loan, which allowed the borrower to refinance the property’s existing debt and implement property improvements, including the installation of solar carports. Grant Robertson and Kevin Dinneen of Walker & Dunlop’s Los Angeles-based team arranged the financing. The two-story, 51,065-square-foot property features an open floor plan with a mix of private suites and conference rooms. Since 2018, an online retail company has occupied the building.

August 3, 2020

Acquisitions Office Texas

Colliers Arranges Sale of 174,147 SF Tower at Frisco Square Office Building

by Taylor Williams July 31, 2020

FRISCO, TEXAS — Colliers International has arranged the sale of Tower at Frisco Square, a 174,147-square-foot office building situated on 3.2 acres at 5757 Main St. in Frisco. Video game developer Gearbox Software is the anchor tenant of the five-story building, which was constructed in 2015 and has an adjacent five-level parking garage with additional ground-floor office and retail space. Dallas-based Encore Enterprises sold the property to Missouri-based REIT Maxus Realty Trust for an undisclosed price. Creighton Stark and Chris Boyd of Colliers brokered the deal.

July 31, 2020

Illinois Leasing Activity Midwest Office

Wildlife Conservation Nonprofit Renews 8,373 SF Office Lease in Chicago

by Kristin Harlow July 31, 2020

CHICAGO — Openlands, a wildlife conservation nonprofit organization, has renewed its 8,373-square-foot office lease at 25 East Washington in Chicago. Openlands occupies space on the 16th floor and has resided in the building for over 20 years. Jonathan Seeley and Merrick Wells of Bradford Allen represented the tenant in the lease transaction. Aspire Properties is the landlord for the 22-story office building. Founded in 1963 as a program of the Welfare Council of Metropolitan Chicago, Openlands is one of the oldest metropolitan conservation organizations in the nation. It has helped to protect more than 55,000 acres of land for public parks, forest preserves, wildlife refuges, urban farms and community gardens in northeastern Illinois.

July 31, 2020

Acquisitions California Healthcare Loans Office Western

CIT Provides $25M in Acquisition Financing for MLK Community Hospital Medical Office Building in Los Angeles

by Amy Works July 31, 2020

LOS ANGELES — CIT Group and its Healthcare Finance unit has funded a $25 million loan supporting Seavest Healthcare Properties’ acquisition of the MLK Community Hospital Medical Office Building in South Los Angeles. Established in 2015, MLK Community Hospital is part of a public-private partnership with Los Angeles County created to meet the needs of the South Los Angeles community, including the uninsured and underinsured. The private, nonprofit hospital provides healthcare services for residents of the Watts, Compton and Willowbrook neighborhoods of Los Angeles.

July 31, 2020

Acquisitions California Office Western

Atlantic Pearl Investments Sells 78,404 SF Multi-Tenant Office Building in Southern California

by Amy Works July 31, 2020

LONG BEACH, CALIF. — Atlantic Pearl Investments has completed the disposition of a multi-tenant office property located at 1501 Hughes Way in Long Beach. A private 1031-exchange investor purchased the asset for $16 million. Recently renovated, the 78,404-square-foot building is 96 percent occupied by six tenants, including Daylight Transport, Stars Behavioral Health, DB Schenk and CraneMorley. Sean Fulp, Ryan Plummer, Mark Schuessler and Ryan Tetrault of Newmark Knight Frank represented the seller in the transaction.

July 31, 2020

Acquisitions Colorado NAI Office Western

NAI Brokers $5.4M Acquisition of Office Building in Westminster, Colorado

by Amy Works July 31, 2020

WESTMINSTER, COLO. — NAI Shames Makovksy has arranged the sale of an office property located at 1400 W. 122nd Ave. in Westminster. Artemis Holdings Limited acquired the property from Pavilion Court for $5.4 million. The buyer plans to utilize the 31,272-square-foot building to relocate Advanced Space from Boulder to Westminster as a ‘tenant in tow’ to fill more than 15,000 square feet of vacancy. Todd Silverman and Paul Cattin of NAI Shames Makovsky represented the buyer in the deal.

July 31, 2020

Acquisitions Florida Office Southeast

Swire Properties Sells Brickell City Centre Office Towers in Miami to Northwood for $163M

by Alex Tostado July 30, 2020

MIAMI — Swire Properties has sold Two and Three Brickell City Centre, two office buildings at the $1.05 billion Brickell City Centre mixed-use project in Miami’s Brickell district. The sales price was not disclosed, though The Miami Herald reports the assets traded for $163 million. The South Florida Business Journal reports Denver-based Northwood Investors LLC acquired the two buildings. Two Brickell City Centre, located at 78 SW Seventh St., sold for $80.3 million. Three Brickell City Centre, located at 98 SW Seventh St., sold for $82.7 million. Each building comprises 130,000 square feet and tenants include WeWork, law firm Akerman LLP and consulting firm McKinsey & Co. The buildings were nearly fully leased at the time of sale, according to a Swire spokesperson. Hong Kong-based Swire, which developed Two and Three Brickell City Centre in 2016, will retain ownership of the open-air shopping center at Brickell City Centre. Swire intends to reinvest the capital into future developments, according to the company spokesperson.

July 30, 2020

Development Office Southeast Tennessee Top Stories

Brasfield & Gorrie Completes $90M Office Building in Nashville

by Alex Tostado July 30, 2020

NASHVILLE, TENN. — Brasfield & Gorrie has completed the $90 million Peabody Plaza at Rolling Mill Hill, a nine-story, 280,000-square-foot office building in Nashville’s Rolling Mill Hill neighborhood. The Birmingham, Alabama-based general contractor built the project on behalf of the owner, Eakin Partners. The building sits on the site of a former surface parking lot at 10 Lea Ave., one mile south of downtown Nashville. Peabody Plaza features a 6,000-square-foot amenity deck overlooking downtown Nashville and the Cumberland River, as well as a nearly one-acre park between the building and Cumberland River. It was built with a five-story, below-grade parking deck offering 1,000 parking spaces. Tenants at the site include Concord Music, Guaranty Home Mortgage Corp. and Fourth Capital corporate offices as well as a ground-floor bank branch. Peabody Plaza also features space for a coffee shop and a full-service restaurant. There was 156,000 square feet of office space available for lease at the time of the opening. Nashville-based Hastings Architecture designed the building. Hastings also designed the interior space for Guaranty Home Mortgage and Fourth Capital. Lines Inc. was the architect for Concord. Peabody Plaza is the sixth office building that locally based Eakin Partners and Brasfield & Gorrie …

July 30, 2020

Leasing Activity Office Southeast Virginia

Government Contractor KBR Signs 12,723 SF Office Lease in Northern Virginia

by Alex Tostado July 29, 2020

FAIRFAX, VA. — Government contractor KBR Inc. has signed a 10-year, 12,723-square-foot office lease at 2677 Prosperity Ave. in Fairfax. The seven-story, 166,266-square-foot building is situated 15 miles west of downtown Washington, D.C. Andy Klaff and Dominic Orcio of Newmark Knight Frank (NKF) represented the landlord, a joint venture between Office Properties Income Trust and Coakley Prosperity of Virginia LLC, in the transaction. Samuel Heiber and Tom Birnbach of Cresa represented the tenant, which plans to move into the space in October. The RMR Group manages the property. KBR is an engineering firm that was formerly a subsidiary of Halliburton.

July 29, 2020

Leasing Activity Office Texas

Texas Excavation Safety System Signs 29,343 SF Office Lease in Metro Dallas

by Taylor Williams July 29, 2020

RICHARDSON, TEXAS — Texas Excavation Safety System has signed a 29,343-square-foot office lease at 1410 E. Renner Road in the northeastern Dallas suburb of Richardson. Dave Peterson, Mark Robertson and Jimmy Freeman of NAI Robert Lynn represented the tenant in the lease negotiations. The name and representative of the landlord were not disclosed.

July 29, 2020

Newer Posts

Older Posts