Office

JLL Arranges 48,818 SF Lease Expansion for Data Center Company in Downtown Tampa

by Camren Skelton February 27, 2018

TAMPA, FLA. — JLL has arranged a 48,818-square-foot lease expansion for Equinix at Two Harbour Place, an office property located at 302 Knights Run Ave. in downtown Tampa. The California-based company develops interconnection and data center solutions, and has a physical footprint in 48 markets worldwide. Equinix will be growing from its original space of 30,164 square feet to occupy the seventh and eighth floors of Two Harbour Place. Caleb Lewis and John Heald of JLL negotiated the lease terms on behalf of Equinix, while Jim Moler and Deana Beer of JLL represented the landlord. The expansion brings Two Harbour Place to 92 percent occupancy.

February 27, 2018

California Office Western

Pacshore Partners, Canyon Partners Buy Office Park in Santa Ana, California

by Nellie Day February 26, 2018

SANTA ANA, CALIF. — A joint venture between Pacshore Partners and Canyon Partners Real Estate LLC has purchased Harbor Corporate Park in Santa Ana for an undisclosed sum. The park is situated on Harbor Boulevard near the central corridor in the SOCO office market. Harbor Corporate Park contains four two-story buildings set on 8.93 acres with 574 parking spaces. A capital improvement plan will include upgrades to enhance the aesthetic of the property, and a spec suite will be built to market to prospective tenants.

February 26, 2018

Florida Loans Office Southeast

CBRE Arranges $10.5M Sale, $7.1M Loan for Office Building in Metro Orlando

by Camren Skelton February 26, 2018

WINTER PARK, FLA. — CBRE has arranged the $10.5 million sale of 2699 Lee Road, an 87,226-square-foot office building in Winter Park, less than seven miles north of Orlando. Ron Rogg and Chip Wooten of CBRE arranged the transaction. At the time of sale, the building was 84 percent leased. Zac, Jim and Aaron Brumbaugh of CBRE secured a $7.1 million, 10-year loan through a life insurance company on behalf of the buyer, Owens Realty Capital. The non-recourse loan features one year of interest-only payments and a 30-year amortization schedule thereafter.

February 26, 2018

Midwest Office Ohio Retail

Cincinnati Commercial Contracting Breaks Ground on 27,995 SF Build-to-Suit in Sharonville, Ohio

by Kristin Harlow February 26, 2018

SHARONVILLE, OHIO — Cincinnati Commercial Contracting LLC has broken ground on a 27,995-square-foot build-to-suit for TNT Services and Arrow Truck Sales in Sharonville, about 17 miles north of Cincinnati. The office and retail property property, located at 11910 Mosteller Road, will include sales and administration offices, retail parts department, wash bays, degreasing, equipment and service areas for the two tenants. A groundbreaking ceremony took place on Wednesday, Feb. 14. The property is slated for completion this summer. TNT Services is a power washing company, while Arrow Truck Sales is a used truck dealer.

February 26, 2018

Industrial Midwest Minnesota Office Top Stories

Industrial Realty Group Acquires IBM’s 3.1 MSF Campus in Rochester, Minnesota

by Taylor Williams February 26, 2018

ROCHESTER, MINN. — Industrial Realty Group LLC (IRG) has acquired IBM’s technology campus in Rochester, about 90 miles southeast of Minneapolis. The price was not disclosed. The campus opened in 1957 and currently spans 490 acres. Its 34 buildings comprise a total of 3.1 million square feet of office, manufacturing, warehouse, data center and lab space. IRG plans to lease back eight of the buildings to IBM and create a multi-tenant, mixed-use campus for the rest of the property. “We have already engaged potential tenants who are interested in locating their operations to this high-tech campus,” says John Mase, CEO of IRG. “We plan to create an environment that encompasses a variety of uses and creates as many jobs as possible.” Rochester’s daily newspaper, The Post Bulletin, reports that the campus housed about 3,200 employees in 2012, when the data was last made available, and that Olmsted County recently valued the property at just under $33 million. The paper also reports that 1 million square feet of space is currently available for lease. IRG is a Los Angeles-based developer and operator of more than 150 commercial developments across eight states. — Taylor Williams

February 26, 2018

Connecticut Northeast Office

Calare Properties Acquires 915,000 SF Office Complex in Wallingford, Connecticut

by Amy Works February 23, 2018

WALLINGFORD, CONN. — Calare Properties has acquired an office and research-and-development complex located at 5 Research Parkway in Wallingford, for an undisclosed price. The undisclosed corporate seller and user will vacate the 915,000-square-foot property this year. Situated on 180 acres, the campus features an 830,000-square-foot main office and lab complex that is supported by outer buildings, including a materials handling facility, a central utility plant and a child development center. Jim Panczykowski of Binswanger Management Corp. represented the seller in the deal.

February 23, 2018

Midwest Office Wisconsin

Nordic Realty Partners Buys 10,430 SF Office Building in Mount Pleasant, Wisconsin

by Kristin Harlow February 23, 2018

MOUNT PLEASANT, WIS. — Nordic Realty Partners LLC has purchased a 10,430-square-foot office building in Mount Pleasant, about 25 miles south of Milwaukee. The sales price was not disclosed. The property, which includes surplus land of 3.1 acres, is located at 13303 Washington Ave. near I-94. Johnson Insurance currently occupies the building, but plans to relocate during 2018. CBRE represented the undisclosed seller in the transaction.

February 23, 2018

Office Texas

Poynter Commercial Secures 40,000 SF in Office Leases in Houston

by Taylor Williams February 22, 2018

HOUSTON — Poynter Commercial has secured five office leases totaling 40,000 square feet at a 325,000-square-foot office building located at 11700 Katy Freeway in Houston. The two largest leases include Enterprise Offshore Drilling LLC taking 12,629 square feet and Helm U.S. Corp. taking 9,637 square feet. Kevin Poynter and Peyton Poynter of Poynter Commercial represented the landlord, FSP Energy Tower I Ltd., the lease negotiations with Enterprise Offshore Drilling. Kevin Poynter also represented the landlord in the lease negotiations with Helm U.S. Sean Durkin of The J. Beard Real Estate Co. represented Helm U.S.

February 22, 2018

North Carolina Office Southeast

CBRE Arranges 41,716 SF Lease for IT Company’s New Headquarters in Charlotte

by Camren Skelton February 22, 2018

CHARLOTTE, N.C. —CBRE has arranged a 41,716-square-foot lease for Curvature, an IT support, products and services provider, at Coliseum Centre Five in Charlotte’s Airport submarket. Curvature will move its global headquarters to the 152,000-square-foot, six-story building in the second quarter, relocating from its current location at 10420 Harris Oaks Blvd. in north Charlotte. The company will occupy the entire sixth floor and most of the fifth floor. Joe Franco and Stephanie Spivey of CBRE arranged the lease on behalf of the landlord, Americas Capital Partners. Colin Reed, Mary Ayers and Virginia Luther of Savills Studley represented Curvature. Coliseum Centre Five — part of a master-planned, six-building office park — is located less than five miles from Charlotte Douglas International Airport and within walking distance to more than 30 restaurants and shops. Americas Capital Partners is currently underway on renovations to the property, including a new fitness center and conference facility.

February 22, 2018

Loans New York Northeast Office

Zar Group Receives $210M in Financing for Office Property in Times Square

by Amy Works February 22, 2018

NEW YORK CITY — Zar Group has received $210 million in financing to refinance an office property located at 1450 Broadway in Times Square. Tal Bar-Or and Richard Sutton of Meridian Capital Group secured the five-year balance sheet loan, which features full-term interest-only payments. The 42-story property features 415,000 square feet of office and retail space.

February 22, 2018

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