Office

New York Life Provides $44.5M Bridge Loan for Houston Office Property

by Taylor Williams January 15, 2019

HOUSTON — New York Life Real Estate Investors has provided a $44.5 million bridge loan for 515 Post Oak, a 274,848-square-foot, 12-story office property located in the Galleria area of Houston. The Class A property, which offers access to Interstates 610 and 69, was renovated in 2012 and includes a four-story parking garage, fitness center and a full-service deli. Proceeds will be used to meet the lease-up objectives of the owner and borrower, Spear Street Capital. Other loan terms were not disclosed.

January 15, 2019

Acquisitions Office Texas

Weingarten Sells 129,250 SF Office Building in Northwest Houston

by Taylor Williams January 15, 2019

HOUSTON — Weingarten Realty Investors has sold 1919 North Loop West, a 129,250-square-foot office building in northwest Houston. The six-story building is located near The Galleria neighborhood and Memorial Hermann Greater Heights Hospital. Rudy Hubbard, Kevin McConn and Rick Goings of JLL handled the sale on behalf of Weingarten. Paul House and John Ream of JLL arranged an undisclosed amount of acquisition financing for the deal on behalf of the buyer, an affiliate of Houston-based Simpkins Group Inc. In addition, Cutt Ableson, Mark Crosswell and Colin Marusak of Berkadia arranged an undisclosed amount of joint venture equity for the acquisition on behalf of the buyer.

January 15, 2019

North-Stadium-Business-Center-Anaheim-CA

Acquisitions California Office Western

Pacific Industrial Buys 151,000 SF Multi-Tenant Business Park in Orange County for $22.6M

by Amy Works January 15, 2019

ANAHEIM, CALIF. — Pacific Industrial, a privately held industrial development and investment firm, has acquired North Stadium Business Center, a multi-tenant business park located at 2020-2120 E. Howell Ave. in Anaheim’s Platinum Triangle. 2020 Howell Avenue Enterprises and Howell Avenue Enterprises sold the asset for $22.6 million. Situated on 9 acres, the property features 151,000 square feet of office space and is within walking distance of Angel Stadium and The Honda Center. At the time of sale, the center was leased to more than 30 tenants. With this acquisition, Pacific Industrial now owns 17.5 contiguous acres between Angel Stadium and The Honda Center. Seth Davenport, Mitch Zehner and Rob Socci of Voit Real Estate Services represented the buyer and seller in the transaction. Additionally, Pacific Industrial appointed Voit has its exclusive agent for the business park and property.

January 15, 2019

Acquisitions Multifamily Office Oregon Western

CBRE Negotiates $10M Sale of Former YWCA Building in Portland

by Amy Works January 15, 2019

PORTLAND, ORE. — CBRE has brokered the sale of a residential and office building located in Portland’s Cultural District. W.H.J. Holdings LLC sold the property to Harsch Investment Properties for $10 million. Located at 1111 SW 10th Ave., the five-story, 66,074-square-foot building is currently occupied by Morrison Child and Family Services, a nonprofit that provides specialized services to children who have experienced trauma or adversity. Built in 1958 and renovated in 2002, the former YWCA building currently features on-site parking, a full gym, pool and cafeteria. Trevor Kafoury of CBRE represented the seller in the deal.

January 15, 2019

Development Office Washington Western

Demolition Underway for Microsoft’s 3 MSF Campus Renovation in Redmond, Washington

by Amy Works January 14, 2019

REDMOND, WASH. — Demolition began on Jan. 8 for Microsoft’s multibillion-dollar overhaul of its corporate headquarters campus in Redmond and includes the decommissioning and demolition of 13 buildings. In mid-2018, the company announced its plans to renovate its campus and build nearly 3 million square feet of new workspace on 72 acres at its current campus in Redmond. Construction of the new buildings is expected to begin soon, with completion slated for 2022. The project team includes architecture firms LMN, NBBJ, WRNS Studio and ZGF Architects; general contractors Skanska, Balfour Beatty, GLY and Sellen; and lead landscaping architect Berger Partnership with OLIN. CBRE, JLL and OAC Services are serving as project managers for the redevelopment. Once complete, the modernized campus will include: • 18 new buildings, ranging from 180,000 square feet to 200,000 square feet, clustered in four distinct villages • Accessibility features to enhance mobility and ease of access for all employees • Buildings that are four to five stories in height • Atriums and courtyards for improved daylighting and direct connections to the outdoors • Sustainable design strategies • A gateway to serve employees and visitors arriving via Sound Transit’s Redmond Technology Center light rail station • A …

January 14, 2019

Acquisitions Colorado Office Western

Newmark Knight Frank Directs $4.7M Purchase of Office Building in Colorado Springs

by Amy Works January 14, 2019

COLORADO SPRINGS, COLO. — Newmark Knight Frank (NKF) has arranged the acquisition of an office property located in Colorado Springs. GOG Properties LLC purchased the property from 1555 GOG LLC for $4.7 million. Located at 1555 Garden of the Gods Road, the property features 39,597 square feet of office space. Simon Penner of NKF represented the buyer, while NAI Highland represented the seller in the deal.

January 14, 2019

Loans New Jersey Northeast Office

Cronheim Mortgage Secures $11.5M Refinancing for Office Portfolio in New Jersey

by David Cohen January 14, 2019

SOUTH PLAINFIELD, N.J. — Cronheim Mortgage has secured an $11.5 million loan to refinance a four-building office portfolio within the Middlesex Business Center in South Plainfield. The fully leased portfolio totals 150,192 square feet. Cronheim secured the 10-year, fixed-rate loan on behalf of borrower National Realty and Development Corp. The lender was Farm Bureau Life Insurance Co. Middlesex Business Center is a 420,000-square-foot office and industrial complex in South Plainfield.

January 14, 2019

Acquisitions Northeast Office Pennsylvania

Markward Group Brokers Sale of 38,348 SF Office Building in Bethlehem, Pennsylvania

by David Cohen January 14, 2019

BETHLEHEM, PA. — Markward Group has brokered the sale of a 38,348-square-foot office building in Bethlehem. The sales price was undisclosed. Located at 90 Highland Ave., the property is currently occupied by tenants BB&T bank and Kafafian Group. Ann Kline of Markward Group represented the seller, BB&T Bank, in the transaction. BB&T will remain a tenant in the building. The buyer was 90 Highland LLC.

January 14, 2019

Leasing Activity Office Texas

Healthcare Provider Signs 22,511 SF Office Lease in Fort Worth

by Taylor Williams January 14, 2019

FORT WORTH, TEXAS — Caregiver Inc. has signed a 22,511-square-foot office lease at 4800 Overton Plaza in southwest Fort Worth that will serve as the company’s new headquarters. Pat McDowell and David Berzina of JLL represented Caregiver Inc. in the lease negotiations. Kirk Kelly of Transwestern represented the undisclosed landlord.

January 14, 2019

Development Midwest Office Ohio

Hertz Investment Group to Complete $2.5M Renovation of Office Property in Columbus

by Kristin Harlow January 14, 2019

COLUMBUS, OHIO — Hertz Investment Group, owner of 65 East State, has planned a $2.5 million renovation of the 26-story office building in Columbus. Additions include an 80-person conference room and a café area. The lobby will receive updated lighting, new seating areas, new artwork and an electronic directory. The existing locker rooms will be remodeled and updated to support the new fitness center. The landscaping, signage and outdoor patio will be updated as well. Andy Jameson and Dan Dunsmoor of Colliers International handle leasing for the 494,488-square-foot property.

January 14, 2019

Newer Posts

Older Posts