Office

Neenan Co. Begins Construction of Mixed-Use Retail Center in Timnath, Colorado

by Amy Works March 22, 2018

TIMNATH, COLO. — The Neenan Co. has started construction for The Plaza at Riverbend, a mixed-use retail center in Timnath, a suburb of Fort Collins. The project will total 39,000 square feet and include two freestanding single-story buildings with retail, office and restaurant space. The larger building will feature 23,000 square feet of commercial space. Studio 68 will own 9,307 square feet of space, slated to open by the end of the year. The second facility will feature 16,000 square feet of speculative commercial space. Serving as the project’s developer and design-builder, The Neenan Co. will sell the retail and office condominiums to each end user upon the project’s completion in late 2018.

March 22, 2018

California Loans Office Western

Bellwether Enterprise Arranges $22.5M Refinancing for Office Campus in Los Angeles

by Amy Works March 22, 2018

LOS ANGELES — Bellwether Enterprise Real Estate Capital, a subsidiary of Enterprise Community Investment, has arranged $22.5 million in refinancing for MDR Truss Campus, an office complex located in the Marina Del Rey submarket of Los Angeles. Situated on 2.7 acres, the property consists of six separate buildings totaling 68,693 square feet of creative office space and 179 parking spaces. The 15-year, fully amortizing, fixed-rate loan features a 3.64 percent interest rate. It was used to pay off the construction loan and cover closing costs. Shelley Magoffin and Max Sauerman of Bellwether secured the loan through one of the company’s correspondent life insurance companies. The name of the borrower was not released.

March 22, 2018

Development Florida Mixed-Use Multifamily Office Retail Southeast Top Stories

Feldman Equities, Two Roads Development to Build 50-Story Mixed-Use Tower in Downtown Tampa

by Katie Sloan March 22, 2018

TAMPA, FLA. — A partnership between Feldman Equities and Two Roads Development has announced plans for Riverwalk Place, a 50-story, mixed-use development located on Ashley Drive in downtown Tampa. The building will be the tallest on the west coast of Florida, according to the development team. The property will include 10 floors of office space and 33 floors housing more than 200 luxury condominiums accessed by private elevators. The property will also feature an integrated parking structure connected by plaza with up to five waterfront restaurants and retail tenants. The development may also feature an adjacent marina for use by residents. An existing building on the property has been vacated, and will be demolished soon in preparation for construction. A timeline for the development was not disclosed, and a rendering has not yet been released. Both parties of the joint venture have invested significant capital into the project, which is currently in the pre-construction phase. The next phase of development will include taking reservations and deposits, followed by going to market for construction funding. Reid Boren, managing partner of Two Roads Development, has noted that several banks are willing to provide financing prior to reservations being taken, but the developer prefers …

March 22, 2018

Loans Massachusetts Northeast Office

Fantini & Gorga Arranges $30M Loan to Refinance 61,000 SF Office Building in Cambridge

by David Cohen March 21, 2018

CAMBRIDGE, MASS. — Fantini & Gorga has arranged a $30 million loan to refinance a 61,000-square-foot office building in Cambridge. The property, located at 784 Memorial Drive and owned by an affiliate of the Bullfinch Companies, was originally built in 1937 and underwent renovations in 1999 and 2014. Harvard University recently executed a long-term lease for the entire building with plans to house a technology services department there. Wayne Clough and Despina Hixon of Fantini & Gorga arranged the financing with one of its correspondent life insurance companies. The building is located along the Charles River in the Cambridgeport neighborhood, halfway between the campuses of Harvard and the Massachusetts Institute of Technology.

March 21, 2018

Development Office Texas

HALL Group Completes 300,000 SF Office Building in Frisco

by Taylor Williams March 21, 2018

FRISCO, TEXAS — HALL Group has completed a 12-story, 300,000-square-foot office building located at 3201 Dallas Parkway in Frisco. The Class A property is the 17th building to be developed within the 162-acre HALL Park and features an event lawn with water features, an outdoor kitchen and a putting green. HKS Inc. served as the building’s architect, and Austin Commercial served as general contractor. Two financial services tenants, Oportun and Origin Bank, have already leased a combined 27,682 square feet of space at the new building.

March 21, 2018

Acquisitions Office Texas

Marcus & Millichap Arranges Sale of 21,617 SF Office Property in Metro Dallas

by Taylor Williams March 21, 2018

COLLEYVILLE, TEXAS — Marcus & Millichap has arranged the sale of a 21,617-square-foot office property in Colleyville, a northwestern suburb of Dallas. The building is located within Colleyville Square, a four-building mixed-use development. Cody Payne and Ross Meisner of Marcus & Millichap represented the seller, a California-based private investor, in the transaction. The buyer was not disclosed.

March 21, 2018

Kansas Leasing Activity Midwest Office

University of Kansas Health System Signs 105,000 SF Office Lease in Lenexa, Kansas

by Kristin Harlow March 21, 2018

LENEXA, KAN. — The University of Kansas Health System has signed a 105,000-square-foot office lease at 11300 Corporate Ave. in the Southlake Technology Park in Lenexa. Combined with the 67,000 square feet the health system leased in 2017, the branch is now the sole tenant in the 172,000-square-foot building. The health system uses the space for support operations. Southlake Technology Park totals 13 buildings and more than 850,000 square feet of office space. Bob Fagan and Matt Eckert of CBRE represented the health system in the lease transaction. Ned O’Connor of Waterford Property Co. LLC represented ownership, Hines and a fund managed by Oaktree Capital Management LP. The owners completed a renovation of the building in 2016.

March 21, 2018

California Development Mixed-Use Multifamily Office Restaurant Retail Western

Trammell Crow-Led Group to Build $500M Mixed-Use Project in Bay Area

by Amy Works March 21, 2018

ALAMEDA, CALIF. — A joint venture led by Trammell Crow Residential (TCR) plans to develop Alameda Point, a $500 million mixed-use project located in the Bay Area city of Alameda. Alameda Point Partners (AAP), which includes srmERNST Development Partners, Madison Marquette, Eden Housing and Cypress Equity Investments, officially closed on the transfer of approximately 30 acres for Site A of the mixed-use, transit-oriented waterfront development. The first phase of Site A will consist of 673 housing units, including 130 units for low- and very-low-income households and 310 units for middle-income households; eight acres of parks and open space; funding for the Seaplane Lagoon Ferry Terminal; and 93,000 square feet of retail space. Completion of the new infrastructure is expected over the next two to three years, with the first new residences scheduled to open in 2021. AAP negotiated the sale of several parcels to various builders and developers to coincide with the sale and transfer of the first 30 acres: Block 8 – Eden Housing will develop a 70-unit multifamily affordable community and a 60-unit affordable seniors housing community. Block 6 – Trumark Homes will develop 123 townhomes. Block 9 – Cypress Equity Investments will develop a 200-unit apartment community with …

March 21, 2018

Leasing Activity Midwest Office Wisconsin

Baldwin Technology Signs 15,152 SF Office Lease in Waukesha, Wisconsin

by Kristin Harlow March 21, 2018

WAUKESHA, WIS. — Baldwin Technology Group has signed a 15,152-square-foot office lease in Waukesha, about 20 miles west of Milwaukee. The manufacturer and supplier of process-automation equipment for the printing, packaging and other industrial segments will occupy the space at 20900 Swenson Drive. Ben Anderson and Brandon Ciebell of Colliers International brokered the lease transaction. The landlord was not disclosed.

March 21, 2018

Acquisitions Arizona Industrial Office Western

NAI Horizon Negotiates $2.7M Acquisition of Flex Property in Mesa, Arizona

by Amy Works March 21, 2018

MESA, ARIZ. — NAI Horizon has arranged the acquisition of an office and industrial facility located at 10646 E. Pecos Road in Mesa. Peoria, Ariz.-based YBL LLC purchased the facility from DMW Properties, an Oregon limited liability company, for $2.7 million. The buyer, which operates as Liberty Lumber, is a contractor of residential and commercial lumber and supplies. The buyer plans to relocate its operation to the 12,436-square-foot facility. Rick Foss of NAI Horizon represented the buyer, while Tom Bean, also of NAI Horizon, represented the seller in the transaction.

March 21, 2018

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