Office

Vanbarton Group Acquires 21-Story Office Tower in San Francisco

by Kristin Harlow June 29, 2018

SAN FRANCISCO — Vanbarton Group LLC has acquired 101 Mission Street in San Francisco. The 206,455-square-foot, 21-story office tower is located in the heart of the South Financial Transbay District. The Class A property is currently 86 percent leased to tenants such as Wells Fargo, Forbes and Pearson. Although the price was not disclosed, Vanbarton received a $116.5 million acquisition loan for the transaction. The building, which is LEED Gold-certified by the U.S. Green Building Council, features views of the San Francisco Bay, column-free office space and 10,500-square-foot floor plates. Services and amenities include on-site property management, 24-hour security, a conference room and building shower. HKS Architects Inc. designed the property. JLL is the leasing agent. Gerry Rohm, Michael Leggett, David Dokko, Ben Bullock and Thomas Foley of HFF represented the undisclosed seller. Peter Smyslowski of HFF arranged acquisition financing. Vanbarton Group is a privately owned real estate investment and advisory firm with corporate offices in New York City and San Francisco. — Kristin Hiller

June 29, 2018

Leasing Activity Massachusetts Northeast Office

Urban Spaces Signs CarGurus to 50,000 SF Office Lease in Cambridge

by David Cohen June 28, 2018

CAMBRIDGE, MASS. — Urban Spaces has signed online automotive marketplace CarGurus to a 50,000-square-foot office lease at 121 First, a 60,000-square-foot mixed-use development in Cambridge. The building also includes 50 parking spaces. CarGurus was represented in the transaction by Nat Kessler and Adam Brinch of CBRE. Designed by architectural firm Perkins Eastman and built by Nauset Construction, 121 First is part of a $200 million development by Urban Spaces. The development will include 50,000 square feet of office space, 50,000 square feet of retail space and 250 apartments as well as a half-acre of green space in Cambridge. The building is currently under construction and is slated to be completed this summer.

June 28, 2018

Acquisitions Office Texas

HFF Arranges Sale of 375,440 SF Office Building in Houston CBD

by Taylor Williams June 28, 2018

HOUSTON — HFF has arranged the sale of 1001 McKinney, a 375,440-square-foot office building in Houston’s CBD. The 23-story, transit-oriented property was built in 1947 and features an on-site conference facility and a bike room with showers. The property was roughly 76 percent leased at the time of sale. Dan Miller, Marty Hogan and Johnny Kight of HFF represented the seller, a partnership between Houston-based Cameron Management and New York-based Silverpeak Real Estate Partners. The team also procured the buyer, a partnership between TRC Capital Partners LLC and Amstar America LLC.

June 28, 2018

Acquisitions North Carolina Office Southeast

RealOp Investments Acquires Seven-Building Office Portfolio in Triangle for $30.6M

by John Nelson June 28, 2018

RALEIGH, N.C. — RealOp Investments has purchased a seven-building office portfolio spanning more than 223,000 square feet in the Raleigh-Durham area. The Greenville, S.C.-based investor purchased the portfolio from Sun Life Assurance Co. of Canada, a subsidiary of Sun Life Financial, for $30.6 million. The properties in the sold portfolio include RDU Center I, a 60,083-square-foot office building located near Raleigh-Durham International Airport; Horizon I, II and IV, three office assets located along Six Forks Road in north Raleigh spanning 105,747 square feet; and Franklin Park, a three-building brick campus in Chapel Hill totaling 57,288 square feet. Blake Thomas and Grant Linderman of Avison Young’s Raleigh-Durham office represented the seller in the transaction. RealOp Investments has tapped Arnold Siegmund and Carlo DiGiorgio of Avison Young to provide leasing services for the portfolio.

June 28, 2018

Development Midwest Office Ohio

Chard Snyder Opens New Corporate Headquarters in Mason, Ohio

by Kristin Harlow June 28, 2018

MASON, OHIO — Chard Snyder, a third-party administrator of employee benefit solutions and wholly owned subsidiary of Ascensus, has opened its new corporate headquarters in Mason, about 25 miles north of Cincinnati. The 53,000-square-foot office property, located at 6867 Cintas Blvd., will house the company’s 170 team members with room to accommodate growth. Chard Snyder previously occupied space in Deerfield Township. Ascensus is a technology-enabled retirement, education and healthcare solutions provider. Al. Neyer was the general contractor.

June 28, 2018

Acquisitions California Office Western

EverWest Acquires 261,959 SF Office Park in Burlingame, California

by Amy Works June 28, 2018

BURLINGAME, CALIF. — EverWest Real Estate Investors, in partnership with Partners Group, has purchased Burlingame Bay Office Park, located at 555 and 577 Airport Blvd. in Burlingame. The acquisition price was not released. Situated on 13 acres, office park comprises a 120,681-square-foot building and 139,413-square-foot building, offering a total of 261,959 square feet. Ryan Madison provided in-house represented for EverWest in the deal. The name of the seller was not disclosed.

June 28, 2018

Loans Northeast Office Pennsylvania Top Stories

NKF Capital Markets Arranges $355M Refinancing for Three Office Buildings in Philadelphia

by Camren Skelton June 28, 2018

PHILADELPHIA — NKF Capital Markets has arranged two loans totaling $355 million to refinance three office buildings in Philadelphia’s Central Business District. The portfolio includes 1500 Spring Garden, 1635 Market Street and 1835 Market Street. Dustin Stolly, Jordan Roeschlaub, Nick Scribani and Chris Kramer of NKF Capital Markets arranged the loans on behalf of the borrowers, Nightingale Properties and Wafra Capital Partners. TPG Real Estate Finance Trust provided the financing for 1500 Spring Garden, and KKR & Co. LP provided the loan for 1635 and 1835 Market Street. Nightingale acquired the 1.1 million-square-foot 1500 Spring Garden in 2013. Upon acquisition, the company implemented a $10 million capital improvement program to upgrade the lobby, elevators, restrooms and newly leased spaces. Nearly one-third of the property is leased to data center tenants. Nightingale acquired 1635 and 1835 Market Street in 2014. The buildings total 286,000 square feet and 800,000 square feet, respectively. Since acquisition, Nightingale has invested more than $15 million in capital improvements at 1635 Market Street, signing more than 220,000 square feet of new leases. Over the past three years, the company has signed more than 275,000 square feet of new and renewed leases at 1835 Market Street, taking the …

June 28, 2018

Leasing Activity New York Northeast Office

Rockefeller Group Secures 49,000 SF Lease Expansion at 50-Story Office Tower in Manhattan

by David Cohen June 27, 2018

NEW YORK CITY — Rockefeller Group has signed Mayer Brown LLP to a 49,000-square-foot lease at 1221 Avenue of the Americas, a 50-story office tower in Manhattan. The global legal services firm now occupies five floors and 235,000 square feet at the building. Mayer Brown was represented by Bob Flippin, Andrew Sussman, Lauren Crowley Corrinet and Anthony Dattoma of CBRE in the transaction. Rockefeller Group was represented by an in-house team led by Ed Guiltinan. Following the transaction, the office space at the 2.6 million-square-foot building is now 97 percent occupied.

June 27, 2018

Loans Midwest Office Ohio

Hunt Provides $17M Loan for Refinancing of Office Property in Hilliard, Ohio

by Kristin Harlow June 27, 2018

HILLIARD, OHIO — Hunt Mortgage Group has provided a $17 million loan for the refinancing of One Mill Run in Hilliard, about 15 miles northwest of Columbus. Constructed in 1989, the nine-story office property spans 174,323 square feet and nine stories. The property is 95 percent leased. MSF Real Estate Capital Inc. arranged the loan. IMC Real Estate Management was the borrower. Over the past two years, the borrower implemented a number of capital improvements, including resurfacing of the main parking lot, upgrades to the LEED, security cameras and HVAC system, replacement of common area carpeting and renovations to each tenant space.

June 27, 2018

Loans Office Texas

HFF Places $48.5M Loan for Refinancing of Houston Office Building

by Taylor Williams June 27, 2018

HOUSTON — HFF has placed a $48.5 million loan for the refinancing of CITYCENTRE Five, a 201,437-square-foot office building in Houston. The property is located within a 50-acre mixed-use development that includes three apartment communities and a 265-room hotel. Colby Mueck of HFF arranged the loan through New York Life Real Estate Investors on behalf of Midway Cos., a Houston-based development and management firm.

June 27, 2018

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