INDIANAPOLIS — JLL has arranged the sale of Lake Pointe Center III and IV in Indianapolis for an undisclosed price. M&J Wilkow and a fund manager by DRA Advisors LLC purchased the pair of office buildings, which span 170,000 square feet. Recently updated amenities include an on-site conference facility and fitness center. Jim Postweiler, Peter Harwood and Derek Fohl of JLL arranged the sale on behalf of the seller, USAA Real Estate.
REDWOOD CITY, CALIF. — Menlo Park, Calif.-based Acclaim Cos. has received $65.7 million in non-recourse construction financing for the 855 Main Street, a speculative office project development in downtown Redwood City. The company received entitlement approvals for the project in June and will develop the building with a team that includes W.L. Butler and DES Architects. The neoclassical-designed building will feature 100,000 square feet of office and retail space within a short walking distance of downtown amenities, multifamily buildings and public transit opportunities. Ramsey Daya, Chris Moritz and Travis Bailey of Newmark Knight Frank secured the financing for the borrower.
ENGLEWOOD, COLO. — NAI Shames Makovsky has arranged the sale of an office building in Englewood, a suburb seven miles south of Denver. Choice Screening Inc. acquired the property from Concord LLC for $2.2 million. Located at 8668 Concord Center Drive, the property features 13,225 square feet of office space. Trent Rice of NAI Shames handled the transaction.
ALPHARETTA, GA. — Grandbridge Real Estate Capital has secured a $30.5 million acquisition loan for a 251,000-square-foot, Class A office building in Alpharetta, about 24 miles north of Atlanta. Gerry Robbins of Grandbridge secured the financing, which features an initial period of interest-only, a 10-year term and 30-year amortization schedule on behalf of the undisclosed borrower.
ROSELAND, N.J. — NKF has negotiated the $17.2 million sale of a 115,422-square-foot office building in Roseland. Located at 3 Becker Farm Road, the property is currently 97-percent leased to a tenant roster that includes Mandelbaum Salsburg and Tompkins McGuire. Kevin Welsh, Brian Schulz and Chuck Kohaut of NKF’s Tri-State Capital Markets represented the seller, Normandy Real Estate Partners, in the transaction. The buyer was international real estate fund Westwood Properties. The property was recently renovated with $2 million in capital improvements
NEW YORK CITY — Cushman & Wakefield has brokered the $3.8 million sale of a 24,155-square-foot office building in the Bronx. Located at 1314 Blondell Ave., the split-level property features a 24-car private garage and 16-foot ceilings on the ground floor. Jonathan Squires, Ian Brooks, and Robert Shapiro of Cushman & Wakefield represented the undisclosed seller in the transaction. The buyer was also undisclosed.
GLADSTONE, MO. — KCP Acquisition LLC has purchased the Northland Innovation Campus in Gladstone, a northern suburb of Kansas City. The purchase price was not disclosed, but the Kansas City Business Journal reports that the property was valued at $20 million as of March 2017. The Class A building features collaborative office space and an education center. The five-story, 86,778-square-foot office building is 92 percent leased to the North Kansas City School District, Northwest Missouri State University and Edward Jones. Gary Carr, Gina Anderson and Robert Hill of CBRE represented the seller, Gladstone Capital LLC.
FRISCO, TEXAS — Cardtronics, an operator of ATM machines and financial kiosk services, has expanded its presence by 46,000 square feet at HALL Park in Frisco. The company now occupies 82,000 square feet at 3201 Dallas Parkway, HALL Group’s newest development. Garrold Parratt, Greg Biggs and Kimarie Ankenbrand of JLL represented Cardtronics in the lease negotiations. Kim Butler, Brad Gibson and Cynthia Cowen represented HALL Group internally.
RICHARDSON, TEXAS — Generational Group LLC, a Dallas-based investment banking firm, will relocate its headquarters from Dallas Parkway to CityLine, a mixed-use development in the northeastern Dallas suburb of Richardson. Steve Thelen and Anissa Guerriere of JLL represented Generational Group in the lease negotiations. Nathan Durham, Paul Wittorf and Duane Henley of Transwestern represented the landlord.
LONG BEACH, CALIF. — Redwood Partners has purchased The Hubb, a creative office property located at 100 W. Broadway in downtown Long Beach. A joint venture between Singerman Real Estate and Ocean West Capital Partners sold the property for $60.5 million. Originally built in 1986, the 210,428-square-foot creative office building underwent a $12 million capital improvement program in 2017. The renovation included the addition of high and exposed ceilings, operable windows, polished concrete floors and full-height glass lines. The Hubb also features an indoor-outdoor amenity area known as “WorkPark,” which provides a modern outdoor office environment with work tables, seating, lounge chairs and Wi-Fi stations. The property also features an adjacent, six-level parking structure. At the time of sale, the property was 88 percent occupied by a variety of office and retail tenants, including WeWork as the long-term anchor tenant. Kevin Shannon, Ken White, Rob Hannan, Laura Stumm and Michael Moll of Newmark Knight Frank represented the seller, while Bob Safai of Madison Partners represented the buyer in the deal.