CHARLESTON, S.C. — LRC Properties LLC has acquired Ashley Overlook, a 104,610-square-foot office building located at 4390 Belle Oaks Drive in Charleston that serves as Select Health of South Carolina’s headquarters. Stan Johnson Co. brokered the deal between New York-based LRC and the seller, a group of individual investors based in San Jose, Calif. The property was 81 percent leased at the time of the October sale. The sales price was undisclosed.
ST. LOUIS — Marcus & Millichap has arranged the sale of an 89,564-square-foot office building occupied by the regional field office of the Federal Bureau of Investigation (FBI) in St. Louis. The sales price was $21 million, according to the St. Louis Business Journal. The two-story building was completed as a build-to-suit for the FBI in 1999 and was expanded by approximately 15,000 square feet in 2008. Geoff Ficke of Marcus & Millichap represented the buyer, a government-focused real estate fund. The buyer plans to retain ownership through the end of the nine years left on the lease. The seller was not disclosed.
BRYAN, TEXAS — Roserock Capital Group has begun work on 8872 Health Science Center Parkway, a 61,000-square-foot office project in the central Texas city of Bryan. The Class A property, which is expected to be complete by April 2019, represents Phase I of CamWest Crossing, a 45-acre office and retail project. Oldham Goodwin Group LLC is leasing and marketing the development.
OMAHA, NEB. — NorthMarq Capital has secured a $17.5 million loan for the refinancing of Linden Place I & II in Omaha. The Class A office property spans 154,772 square feet and is located at 14301 FNB Parkway. Bob Chalupa arranged the 15-year loan, which features a fixed rate and a 25-year amortization schedule. A life insurance company provided the loan. The borrower was not disclosed.
SAN ANTONIO — Hartman Income REIT has signed a 46,041-square-foot office lease renewal with General Services Administration working on behalf of the Veterans Administration (VA) at 7411 John Smith Drive in San Antonio. According to LoopNet Inc., the property was built in 1983. Kacie Skeen internally represented Hartman, the landlord, in the lease negotiations.
LAKEWOOD, COLO. — Bridge Investment Group, in partnership with Denver-based DPC Cos., has acquired Denver West Business Park, a 20-building flexible office campus located near downtown Denver, for an undisclosed price. Situated in Lakewood, the 82-acre asset features 14 buildings on the south side of Interstate 70 and six buildings on north side of the interstate. Originally built between 1974 and 1981, Denver West has undergone more than $25 million in capital improvements since 2014 and was 78 percent occupied at the time of sale. Recent renovations include roof replacement for all 20 buildings, base building repairs and $8.1 million in accretive cosmetic investment. Bridge and DPC plans to invest $14 million over the next three to four years in additional capital improvements. Planned renovations include modernizing the lobbies, elevators, restrooms, entrances, corridors, landscaping and existing amenities. New amenities will include paddle boarding, lakeside gazebos and other activities that resonate with the live-work-play workforce. DPC Cos. will oversee all leasing, property management and redevelopment work.
HOUSTON — French investment bank Natixis has provided a $147.2 million floating-rate loan for the refinancing of San Felipe Plaza, a 46-story office tower located in the Galleria/Uptown area of Houston. The Class A, 980,473-square-foot property was built in 1983 and renovated in 2015. Amenities include a fitness center, multiple onsite dining options, a conference center, dry cleaner and a Starbucks. Susan Hill of HFF arranged the loan on behalf of the borrower, a subsidiary of Parkway Inc.
DALLAS — Kaizen Development Partners will develop The Link at Uptown, a 22-story, 300,000-square-foot office building that will be located at the intersection of Olive and Akard streets in Uptown Dallas. Designed by BOKA Powell, the property will feature two restaurants, a fitness center, conference center, golf simulators and other outdoor terrace amenities. Demolition of existing buildings on the site is planned for next summer, with vertical construction immediately following. The target completion date is fall 2021.
PHOENIX — Denver-based Bow River Capital Partners has purchased Grand Central Tower, an office building located at 3550 N. Central Ave. in Phoenix. Solana Beach, Calif.-based Fenway Capital Advisors sold the property for $14.6 million. Built in 1958 and situated in Phoenix’s Central Corridor, the 20-story building features 284,709 square feet of office space, as well as a 4.4-acre surface parking lot that could be redeveloped with multifamily residential space. At the time of sale, the multi-tenant property was 34 percent occupied. Steve Lindley, Eric Wichterman, Bob Buckley, Tracy Cartledge and Mike Coover of Cushman & Wakefield’s Phoenix office represented the seller in the deal.
OMAHA, NEB. — Darland Construction Co. has completed the new headquarters for LGT Transport, a cryogenic transportation company. The 12,640-square-foot property includes 8,312 square feet of office space, which includes eight offices, a training center, conference room, driver’s lounge, workroom, exercise facility, break room and locker rooms. The remaining square footage houses the company’s two-bay service center. A 36,000-square-foot parking lot offers parking for up to 10 tractor-trailers. Schemmer Associates was the project architect.
