Office

Areu Bros. Studio Purchases Tyler Perry’s Former Movie Studio in Southwest Atlanta for $18.5M

by Alex Tostado January 3, 2019

ATLANTA — Areu Bros. Studio has purchased an Atlanta movie studio that was formerly used by Tyler Perry. A spokesperson for the seller’s realtor, Atlanta Fine Home Sotheby’s International Realty, said the complex sold for $18.5 million. Miami-based LV Lending provided the undisclosed acquisition financing. The 205,751-square-foot building is situated in southwest Atlanta on 24 acres with an excess 33 acres on the property. Areu Bros. Studio is the first Latino-owned and operated major film and TV studio in the United States. Ozzie Areu was the president of Tyler Perry Studios for 12 years.

January 3, 2019

Acquisitions Illinois Midwest Office

CIM Group, Golub & Co. Acquire 36-Story Office Tower in Chicago for $138M

by Kristin Harlow January 2, 2019

CHICAGO — A joint venture between CIM Group and Golub & Co. has acquired 444 N. Michigan, a 36-story office tower along Chicago’s Magnificent Mile. Germany-based GLL Real Estate Investors sold the asset for $138 million, according to Crain’s Chicago Business. Built in 1976, the 517,000-square-foot building also includes ground-floor retail space. Technology, media, healthcare, law, real estate and professional services tenants occupy the office portion. CIM Group and Golub & Co. are in the midst of redeveloping the landmark Tribune Tower into luxury condos.

January 2, 2019

Development Iowa Midwest Office

R&R Opens New Corporate Headquarters in West Des Moines

by Kristin Harlow January 2, 2019

WEST DES MOINES, IOWA — R&R Realty Group has opened its new headquarters at Westfield Campus, a 180,000-square-foot, multi-tenant office property in West Des Moines. The campus includes two 80,000-square-foot buildings connected by Westfield Commons, a meeting space with conference areas, a coffee shop, fitness center and rooftop terrace. R&R occupies the entire second floor of the north building for approximately 25,000 square feet. Joining R&R at the office property are several other businesses whose spaces are currently under construction. Tenant names will be disclosed at a later date. R&R is a full-service real estate company serving Iowa and Nebraska.

January 2, 2019

Acquisitions Midwest Missouri Office

NGZ Arranges Sale of 109,193 SF Office Building in Kansas City

by Kristin Harlow January 2, 2019

KANSAS CITY, MO. — Newmark Grubb Zimmer (NGZ) has arranged the sale of Northpointe Tower in Kansas City for an undisclosed price. The 109,193-square-foot office building is located at 10220 N. Ambassador Drive. The property is 25 percent occupied after anchor tenant Dairy Farmers of America moved its headquarters to Kansas City, Kan. Michael VanBuskirk and Chris Robertson of NGZ brokered the sale. A local investor group purchased the asset from BACM 2006-5 North Ambassador Drive LLC.

January 2, 2019

Acquisitions Office Texas

Dornin Investment Group Sells 120,520 SF Office Park in Houston’s Energy Corridor

by Taylor Williams January 2, 2019

HOUSTON — Dornin Investment Group, which has offices in Las Vegas and Laguna Beach, Calif., has sold 11777 Katy Freeway, a 120,520-square-foot office park located in the Energy Corridor area on Houston’s west side. Situated on 3.7 acres, the property was 60 percent occupied at the time of sale. Payton Indermuehle and Todd Jurek of Keen Realty Group LLC represented the buyer, Next Investments LLC, in the transaction. Dornin Investment Group was self-represented.

January 2, 2019

Acquisitions Office Texas

Colliers Negotiates Sale of 8,364 SF Office Building in North Houston

by Taylor Williams January 2, 2019

HOUSTON — Colliers International has negotiated the sale of an 8,364-square-foot office building located at 15055 Woodham Drive, just off Interstate 45 in north Houston. Daniel Tapia and Tom Condon Jr. of Colliers International represented the seller, Nacobre USA LLC, in the transaction. Bob Conwell and John Nguyen of NewQuest Properties represented the buyer, Destiny Real Estate Houston LLC, an affiliate of California-based The Marwaha Group.

January 2, 2019

Florida Loans Office Southeast

New York Life Provides $170M Refinancing Loan for Wells Fargo Center in Downtown Miami

by Alex Tostado January 2, 2019

MIAMI — New York Life Real Estate has provided a $170 million loan for the refinancing of Wells Fargo Center in downtown Miami. The borrower, MetLife, owns the 47-story office tower, which was built in 2010 at 333 S.E. 2nd Ave. The loan has a 10-year term with an undisclosed fixed interest rate. Tenants in the 752,488-square-foot building include Wells Fargo Bank; McDermott, Will & Emery; Greenberg Traurig; and Deloitte. The property adjoins the JW Marriott Marquis and features an entertainment complex on the 19th floor, fitness center, spa, salon and meeting space.

January 2, 2019

Acquisitions North Carolina Office Southeast

Accesso Acquires Two Office Buildings Near Research Triangle Park in Raleigh-Durham Area for $73M

by Alex Tostado January 2, 2019

CARY, N.C. — Accesso Partners LLC has bought the Weston I and II Parkway portfolio near Research Triangle Park in Cary for $73 million. The seller was Raleigh-based Capital Associates. Weston I is a six-story, 212,441-square-foot office building that was 97 percent leased at the time of the transaction. Weston II is a four-story, 77,742-square-foot building that was 100 percent leased at the time of the transaction. Ryan Clutter, Scot Humphrey, Chris Lingerfelt and Zack Drozda of HFF represented the seller in the transaction. Frank Baird of Capital Associates will stay on as property manager and leasing agent.

January 2, 2019

Acquisitions California Office Western

Seagate Properties Purchases The Senator Office Building in Sacramento

by Amy Works January 2, 2019

SACRAMENTO, CALIF. — Seagate Properties has acquired The Senator, a landmark office building located at 1121 L Street in Sacramento. Swift Real Estate Partners sold the property for an undisclosed price. Opened in 1924 as a hotel, the property was converted into a 180,123-square-foot office building in 1982. The seller acquired the property in 2015 and implemented a renovation program to transform the building’s traditional office space into modern, creative workspace. Situated across from the California State Capitol, the 10-story building is currently 88 percent leased. Rob Hielscher, Michel Seifer and Erik Hanson of JLL Capital Markets team represented the seller in the deal. Additionally, Alex Witt, John Manning and Tom Gilliland of JLL Capital Markets worked with the buyer to arrange acquisition financing.

January 2, 2019

California Company News Office Western

ECP Commercial Merges with SVN/Vanguard’s San Diego Office

by Amy Works January 2, 2019

SAN DIEGO — ECP Commercial, a commercial real estate firm, has joined SVN International, merging offices with SVN/Vanguard’s San Diego professionals. ECP has provided sales, leasing, property management and maintenance services to commercial real estate owners throughout San Diego County for 34 years, since its establishment in 1984 as East County Properties. The existing SVN/Vanguard multifamily team will move from its downtown office into the ECP offices at 4455 Murphy Canyon Road in San Diego. The merged SVN Vanguard/San Diego team will provide the full spectrum of real estate services to the local market. The team currently consists of 14 broker advisors and a combined staff of 25. Managing directors Joe Bonin and Pat Millay, as well as Jorge Jimenez and Dennis Leslie of the current SVN/Vanguard office, will led the new team. SVN/Vanguard is a franchise of SVN International with offices in Orange and San Diego counties.

January 2, 2019

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