Office

NKF Capital Markets Brokers Sale of 142,856 SF Office Complex in Novato, California

by Amy Works August 31, 2018

NOVATO, CALIF. — NKF Capital Markets has arranged the sale of Rowland Plaza, located at 75 and 88 Rowland Way in Novato. Buchanan Street Partners sold the asset to Pinnacle Capital Management Services and Harrison Street for an undisclosed price. The property features 142,856 square feet of office and medical office space spread across two three-story buildings. At the time of sale, the asset was 82 percent leased to 12 tenants representing medical, finance, government and software firms. Grant Lammersen, Steven Golubchik, Edmund Najera and Tyler Meyerdirk of NKF Capital Markets represented the seller in the deal.

August 31, 2018

Acquisitions Nevada Office Western

Dornin Investment Group Sells 131,000 SF Office Asset in Las Vegas

by Amy Works August 31, 2018

LAS VEGAS — Dornin Investment Group (DIG) has completed the sale of Town Square North, an office asset located within Town Square mixed-use development on Las Vegas Boulevard South and Sunset Road in Las Vegas. Moonwater Capital, a local real estate owner and operator, acquired the property for an undisclosed price. The two-building asset features 131,000 square feet of Class A office space. The property was vacant at both the time of DIG’s acquisition in January and the current sale.

August 31, 2018

Acquisitions Office Utah Western

VMG Negotiates Sale of 129,949 SF Office Building in Clearfield, Utah

by Amy Works August 31, 2018

CLEARFIELD, UTAH — Vectra Management Group (VMG) has arranged the sale of an office building located at 888 S. University Park Blvd. in Clearfield. Clearfield 888 acquired the property from 888 Associates for an undisclosed price. Situated on 11.3 acres, the 129,949-square-foot property features one building with a two-story north wing and a three-story south wing. The building was constructed from 1999 to 2001 and fully renovated from 2014 to 2016. Raju Shah and Bryan Barnes led the VMG team that represented the buyer and secured acquisition financing through KeyBank’s Salt Lake City commercial banking division. VMG and CBRE represented the seller in the transaction. The seller is a VMG-sponsored company that acquired the property in November 2015.

August 31, 2018

Loans Office Washington Western

Newmark Arranges $27M Loan for 80,365 SF Office Building in Seattle

by Amy Works August 30, 2018

SEATTLE — Newmark has secured $27 million in financing for Eastlake Office Building, located at 617 Eastlake Ave. East in Seattle. The five-story property features 80,365 square feet of office space, views of Lake Union and freeway access. At the time of financing, the property was 100 percent leased. Brian Bonipart and Abby Kemp of San Francisco-based Newmark arranged the 10-year, fixed-rate loan with a 25-year amortization schedule for the undisclosed borrower through one of Newmark’s correspondent life insurance lenders. The planned use of the funds was not disclosed.

August 30, 2018

Acquisitions Massachusetts Northeast Office

NKF Capital Markets Brokers $86M Sale of Office Complex Near Boston

by David Cohen August 30, 2018

WALTHAM, MASS. — NKF Capital Markets has brokered the $86 million sale of CenterPoint, a 440,000-square-foot office complex in Waltham. The property comprises two buildings, 41 Seyon St. and 43 Foundry Ave. Edward Maher, Matthew Pullen and Robert Griffin of NKF Capital Markets represented the seller, Rubenstein Partners, in the transaction. The buyer was Hilco Real Estate. Anchor tenants at the property include Repligen, EDC (Education Development Center) and Simpson Gumpertz & Heger.

August 30, 2018

Development Office Texas

Lynd Breaks Ground on 35,000 SF Headquarters Building in San Antonio

by Taylor Williams August 30, 2018

SAN ANTONIO — Locally based multifamily management and development firm Lynd has broken ground on its new, 35,000-square-foot corporate headquarters in San Antonio. The company previously occupied 20,000 square feet at the Forum Building on the city’s north side. The new building will feature a 1,200-square-foot military museum on the ground floor. The Bank of San Antonio provided financing for the project. Lynd expects to move in next summer.

August 30, 2018

North Carolina Office Southeast

HFF Brokers $32.3M Sale of Two Office Buildings in Raleigh

by Camren Skelton August 30, 2018

RALEIGH, N.C. — HFF has brokered the $32.3 million sale of Palisades I and II, two adjacent office buildings totaling 161,480 square feet in Raleigh. Scot Humphrey, Ryan Clutter, Chris Lingerfelt and Zack Drozda of HFF arranged the transaction on behalf of the seller, CapRidge Partners LLC, and procured the buyer, Keystone Corp. Completed in 2001 and 2005, Palisades I and II are four-story buildings with a shared three-story parking deck and amenities including a café, vending area, lounge, conference center and a fitness center with lockers and showers. The properties were collectively 96.2 percent leased at the time of sale to tenants such as Kuehne + Nagel LP and NC State Student Aid Association. The buildings are located roughly four miles from North Carolina State University’s campus, and approximately 10 miles from Raleigh-Durham International Airport.

August 30, 2018

Acquisitions Office Texas

CBRE Brokers Sale of AT&T Global Headquarters Building in Dallas

by Taylor Williams August 29, 2018

DALLAS — CBRE has brokered the sale of One AT&T Plaza, a 37-story, Class A office tower in downtown Dallas that houses AT&T’s global headquarters. Located at the corner of Commerce and Akard streets, the 965,800-square-foot property is fully leased to AT&T through 2030 and has served as the telecommunications giant’s global headquarters since 2008. Icahn Enterprises sold the property, which is currently undergoing ground-floor renovations, to a partnership between Dundon Capital Partners and Woods Capital for an undisclosed price. Michael Monahan, Gary Carr, Evan Stone, John Alvarado, Eric Mackey, Robert Hill and Jared Chua of CBRE brokered the transaction on behalf of the seller.

August 29, 2018

Acquisitions Office South Carolina Southeast

Dominion Realty, Blue Vista Capital Acquire Office Park in Columbia for $24.3M

by Camren Skelton August 29, 2018

COLUMBIA, S.C. — Dominion Realty Partners (DRP), in partnership with Blue Vista Capital Management, has acquired Synergy Business Park, a 315,919-square-foot office park in Columbia, for $24.3 million. The new ownership plans to make significant investments in building renovations and capital improvement projects. The four-building property was 78 percent leased at the time of sale. Rob Cochran, Jared Londry and Nolan Ashton of Cushman & Wakefield arranged the transaction on behalf of the undisclosed seller.

August 29, 2018

Development Midwest Minnesota Office

Vomela Cos. to Build New Headquarters in St. Paul, Minnesota

by Kristin Harlow August 28, 2018

ST. PAUL, MINN. — The Vomela Cos. has unveiled plans to build a new corporate headquarters in St. Paul. The full-service specialty graphics provider, which has operated in St. Paul since 1947, will consolidate its four Twin Cities’ facilities into the new location. The 300,000-square-foot building will be located within Beacon Bluff Business Center on the site of 3M’s former campus. RJ Ryan Construction Inc. is serving as general contractor for the project. Construction began this month. The property will feature 252,000 square feet of production space and 47,500 square feet of office space. Completion is slated for July 2019.

August 28, 2018

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