Office

Transwestern Development Co. Sells 313,420 SF Office Property in Houston

by Taylor Williams August 8, 2018

HOUSTON — Transwestern Development Co. (TDC) has sold Westway Plaza, a 313,420-square-foot office building located at 11330 Clay Road in northwest Houston. The five-story, Class A building was built in 2015 and features a full-service deli and a fitness center with locker rooms. General Electric Co. is the anchor tenant at the property, which was fully leased at the time of sale. Jeff Hollinden and Dane Petersen of HFF represented TDC in the transaction. The buyer was The Aztec Fund Inc., a Mexico-based private equity fund.

August 8, 2018

Acquisitions Office Texas

JLL Negotiates Sale of 119,846 SF Office Building in Fort Worth

by Taylor Williams August 8, 2018

FORT WORTH, TEXAS — JLL has negotiated the sale of the WT Waggoner Building, a 119,846-square-foot office property in Fort Worth. Ryan Matthews of JLL represented the seller, XTO Energy Inc., in the transaction. David Walters and Marty Neilon of CBRE represented the buyer, Northland Properties Corp., the parent company of the NHL’s Dallas Stars. The sale marks the fifth disposition of XTO’s seven properties in downtown Fort Worth.

August 8, 2018

Development Office Texas

Hill & Wilkinson Completes 240,000 SF Office Building in Dallas

by Taylor Williams August 7, 2018

DALLAS — Richardson-based Hill & Wilkinson has completed FOURTEEN555, a 240,000-square-foot office building located north of Interstate 635 in Dallas. Developed by Cawley Partners, the Class A property is the first of two planned office buildings at 14555 Dallas Parkway. The new office building features amenities such as a full-service restaurant, fitness center and a rooftop terrace. Additional amenities are housed in a separate three-story building known as The Hub. BOKA Powell designed the project, which is currently 50 percent preleased.

August 7, 2018

Acquisitions Office Southeast Virginia

Cushman & Wakefield | Thalhimer Arranges $18.6M Sale of Office Tower in Downtown Norfolk

by Camren Skelton August 7, 2018

NORFOLK, VA. — Cushman & Wakefield | Thalhimer has arranged the $18.6 million sale of Main Street Tower, a 14-story office building located at 300 E. Main St. in downtown Norfolk. A Chicago-based investment fund acquired the asset from an undisclosed seller. Eric Robison and Rob Wright of Cushman & Wakefield | Thalhimer arranged the transaction. The 199,621-square-foot office building was 73 percent leased to seven tenants at the time of sale. The United States Coast Guard anchors the building.

August 7, 2018

Acquisitions New Jersey Northeast Office

Cushman & Wakefield Brokers Sale of 233,000 SF Office Property in New Jersey

by David Cohen August 7, 2018

BEDMINSTER, N.J. — Cushman & Wakefield has brokered the sale of the Somerset Financial Center, a 233,000-square-foot office property in Bedminster. Kevin Donner, David Bernhaut, Gary Gabriel, and Ryan Larkin of Cushman & Wakefield represented the seller, Related Cos., in the transaction. P3 Properties purchased the asset for an undisclosed amount. The property currently serves as the New Jersey headquarters of pharmaceutical company Mallinckrodt, which houses 480 employees at Somerset.

August 7, 2018

Acquisitions Midwest Office Ohio

Cantor Fitzgerald, Rodin Global Acquire 241,493 SF Office Building in Columbus for $46.9M

by Kristin Harlow August 7, 2018

COLUMBUS, OHIO — Cantor Fitzgerald Investors LLC and Rodin Global Property Trust Inc. have acquired a 241,493-square-foot office building in the Easton submarket of Columbus for $46.9 million. The Class A property is fully leased through September 2032 to Comenity Servicing LLC, a subsidiary of Alliance Data Systems Corp., which serves as guarantor of the lease. Constructed in 2017, the asset is part of a three-building office campus that houses more than 1,700 employees and serves as the headquarters for Alliance Data Card Services.

August 7, 2018

Acquisitions Arizona Office Western

NKF Capital Markets Negotiates $51M Sale of 14-Building Office Campus in Scottsdale

by Amy Works August 7, 2018

SCOTTSDALE, ARIZ. — NKF Capital Markets has arranged the sale of The Quad, a creative office campus located on 13.4 acres at 6200-6390 E. Thomas Road in Scottsdale. A joint venture between EverWest, George Oliver Cos. and WHI Real Estate Partners sold the property to Vancouver-based City Office REIT for $51 million. Built in 1982, the 14-building, 166,606-square-foot campus recently underwent a $23 million renovation. The property features a connected design, efficient floor plans, fitness center with showers, on-site restaurant and coffee bar, community lounge/conference center, pet-friendly environment, walking/biking paths and accessible Wi-Fi throughout the campus. At the time of sale, the multi-tenant property was 98 percent leased. CJ Osbrink, Kevin Shannon, Ken White, Paul Jones, Brunson Howard and Rick Stumm of NKF Capital Markets represented the seller, while the buyer was self-represented in the transaction.

August 7, 2018

Acquisitions Healthcare Office Washington Western

CBRE Arranges $23M Sale of Medical Office Building in Edmonds, Washington

by Amy Works August 7, 2018

EDMONDS, WASH. — CBRE has brokered the sale of Edmonds Professional Center, a medical office building located at 7315 212th St. SW in Edmonds. Edmonds Professional Center LLC sold the property to an undisclosed buyer for $23 million. Built in 1991, the two-story property features 54,516 square feet of medical office space. At the time of acquisition, the building was 100 percent leased to nine tenants, including Virginia Mason Health System and Swedish Health Services. Chris Bodnar and Lee Asher of CBRE’s Healthcare Capital Markets group partnered with Paul Carr, Steve Perovich and Marcus Yamamoto of CBRE Puget Sound Healthcare represented the seller in the deal.

August 7, 2018

Acquisitions Florida Loans Office Southeast

Berkadia Brokers $25.6M Sale, Green Financing for Multifamily Community in Palm Beach County

by Camren Skelton August 6, 2018

LAKE WORTH, FLA. — Berkadia has arranged the $25.6 million sale of Oakwood Apartments, a 160-unit, townhome-style multifamily community in Lake Worth, a city in Palm Beach County. Yoav Yuhjtman, Tal Frydman and Nicholas Perrone of Berkadia arranged the transaction on behalf of the seller, Coast Capital Partners. Brad Williamson and Jared Hill of Berkadia arranged a $19.2 million Freddie Mac loan on behalf of the buyer, One Real Estate Investment. The seven-year, fixed-rate loan was arranged through Freddie Mac’s Green Up program. Constructed in 1993, Oakwood Apartments comprises two-story, attached townhome units, each with four bedrooms and two-and-a-half baths. Community amenities include a pool, resident clubhouse, business center, fitness center, internet café and onsite management.

August 6, 2018

Acquisitions North Carolina Office Southeast

CBRE Arranges $24M Sale of Office Building in Charlotte’s CBD

by Camren Skelton August 6, 2018

CHARLOTTE, N.C. — CBRE has arranged the $24 million sale of 129 West Trade Street, a 153,498-square-foot office building in Charlotte’s central business district. Patrick Gildea and Matt Smith of CBRE brokered the deal on behalf of the seller, 129 West Trade Owner LLC. Somerset Properties acquired the 15-story tower. Located one block from the intersection of Trade and Tryon streets, 129 West Trade Street is within walking distance to the Lynx Blue Line light rail at the CTC Station stop. The building was 63 percent leased at the time of sale to tenants such as Boston National, Nova Office Strategies, Perficient and Tower Legal Solutions.

August 6, 2018

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