DALLAS — Colliers International has brokered the sale of Northpointe Centre, a 161,170-square-foot office building located at 12005 Ford Road in northwest Dallas. John Bowles, Bruce Butler and Susan Gwin Burks of Colliers represented the seller, Northpointe LP, in the transaction. A partnership between CIG Legacy LLC and Symphony Northpointe LLC purchased the building for an undisclosed price.
DALLAS — RED Development has topped out the 22-story office tower located within The Union Dallas, an 800,000-square-foot mixed-use development near downtown Dallas. Committed tenants at the tower include international law firm Akin Gump, accounting firm Weaver and multifamily development firm Streetlights Residential and have already signed leases at the property. The Union Dallas, which will also include a 31-story apartment tower and a 60,000-square-foot Tom Thumb grocery store, is now more than 50 percent preleased.
MELBOURNE, FLA. — NorthMarq Capital has arranged the $25 million sale of a 191,500-square-foot office building located at 1990 NASA Blvd. in Melbourne. The building is home to General Electric Co. Dallas-based Reserve Cap Partners acquired the asset from an undisclosed seller, and Will James of NorthMarq brokered the sale. In addition, NorthMarq arranged a 10-year, CMBS acquisition loan on behalf of Reserve Cap Partners.
ATLANTA — Portman Holdings has secured $150 million in financing to build a 21-story office building in Atlanta’s Technology Square. The 352,000-square-foot, build-to-suit Anthem Technology Center will be situated near Georgia Tech in Midtown. This area is known as an innovation hotbed with research facilities, incubators, technology start-ups and the Georgia Institute of Technology campus. Healthcare insurance giant Anthem (NYSE: ANTM) will occupy the space. The offices will serve as a hub for approximately 3,000 IT professionals seeking to enhance consumer healthcare experiences, improve the quality of care and lower healthcare costs. The building will feature a 14,000-square-foot terrace area with green space. Anthem placed an emphasis on energy and water efficiency, indoor environmental quality and active design standards. The building will also include 7,000 square feet of retail space and alternating two-story spaces connected by a staircase to promote collaboration. The project’s groundbreaking is scheduled for Feb. 21. Construction is expected to take two years. John Portman & Associates designed the building for Anthem. PCCP contributed equity financing, while SunTrust acted as the lead lender. Regions also served as a lender for the project. SunTrust will open a full-service branch inside Anthem Technology Center. Atlanta-based Portman Holdings is a …
NEW YORK CITY — Children’s Museum of Manhattan has acquired a new property located at 361 Central Park W. in Manhattan’s Upper West Side. 361 Central Park West LLC sold the property for $45 million. Children’s Museum of Manhattan plans to move its primary operations at 212 W. 83rd St. to the new location, which is a landmarked structure and a former church designed by Carrère & Hastings. The museum plans to open at the new location in 2021. Andrew Chonoles, Ross Yustein, Christopher Terry and Michael Scharpf of law firm Kleinberg Kaplan represented the museum in the acquisition.
TAMPA, FLA. — Cushman & Wakefield has arranged the $20.3 million sale of Bay West, a 195,558-square-foot office park located at 5660 to 5840 W. Cypress St. in Tampa’s Westshore district. Mike Davis, Rick Brugge and Michael Lerner of Cushman & Wakefield arranged the transaction on behalf of the seller, Philadelphia-based Equus Capital Partners Ltd. Greenville, S.C.-based RealOP Investments acquired the asset. Bay West includes eight office buildings, constructed between 1983 and 1985. At the time of sale, the office park was 95 percent leased to tenants including Fidelity National Title, GEICO and Beef ‘O’ Brady’s. Paula Buffa and Lauren Coup of Cushman & Wakefield have been retained to handle the property’s leasing assignment.
DETROIT — Bernard Financial Group has arranged a $36.4 million CMBS loan for the refinancing of One Kennedy Square, a multi-tenant office building in Detroit. The 246,304-square-foot property is 100 percent occupied by tenants such as Ernst & Young. Dennis Bernard and Kevin Kovachevich of Bernard arranged the loan on behalf of the borrower, Kennedy Square Office Building LLC. Wells Fargo Bank provided the loan.
CHICAGO — SVN | Chicago Commercial has negotiated the sale of a 42,000-square-foot loft office building in Chicago’s West Loop for $12.9 million. The property, located at 117-121 N. Jefferson Ave., is known as the Haymarket Building. The building was over 90 percent leased at the time of sale. Wayne Caplan and Lee Ffrench of SVN represented the seller, an affiliate of St. Louis-based Hoffmann Commercial Real Estate. In-Commercial Group, based in Chicago, led the purchasing group, which was an investor completing a 1031 exchange.
SANTA ANA, CALIF. — Kearny Real Estate Co. has purchased a 197,370-square-foot office campus in Santa Ana for $34.8 million. The campus is located at 3100-3130 Harbor Blvd. The space has recently been rebranded Elevate@Harbor. It includes two mid-rise buildings on eight acres that were built in 1982. Kearny plans to invest about $15 million to reposition the office campus. The one-acre outdoor area surrounding the first floor of both buildings will be redesigned to incorporate outdoor areas that provide a mix of work, leisure and active spaces. The seller was The Colton Company. CBRE’s Carol Trapani and Allison Kelly will oversee leasing for Elevate@Harbor.
DEL MAR HEIGHTS, CALIF. — Irvine Co. has purchased Gateway at Torrey Hills, a 198,000-square-foot campus in Del Mar Heights, for an undisclosed sum. The campus is situated near the I-5 Freeway at Carmel Mountain Road. The Class A office space is spread across two four-story buildings. Notable tenants include BDO USA, MINDBODY Inc., and law firm Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. The project features stone and glass façades, flexible floor plates, modern interior features and on-site parking. Amenities include a fitness center with locker room and showers, art installations, multiple patios, and outdoor workspaces. Irvine Co. plans to add to and enhance the outdoor workspaces.
