Office

OA Development Buys Four-Building Office Portfolio in Durham from Two Different Sellers for $31.4M

by Camren Skelton June 22, 2018

DURHAM, N.C. — OA Development has acquired four buildings located within Durham’s Imperial Center office park for $31.4 million. The Atlanta-based company acquired the Canterbury, Cambridge, Chelsea and Oxford buildings from two different sellers — ROC III Fairlead Imperial Center LLC and Crown Realty — and combined the assets to assemble one 211,308-square-foot portfolio. The Class B buildings were constructed in the late 1980s and are situated on 15 acres at the entrance of the 456-acre park. Scot Humphrey, Ryan Clutter and Chris Lingerfelt of HFF arranged the transaction on behalf of the sellers. Patterson Real Estate Advisory Group arranged acquisition financing for OA Development through SunTrust Bank.

June 22, 2018

Healthcare Loans Maryland Office Southeast

CIT Group Provides $26.6M Acquisition Loan for Medical Office Center in Metro D.C.

by Camren Skelton June 22, 2018

ROCKVILLE, MD. — CIT Group Inc. has provided a $26.6 million loan for the acquisition of Shady Grove Professional Center, a two-building medical office complex in Rockville, roughly 16 miles north of Washington, D.C. The two-building center is situated on 5.6 acres and totals more than 100,000 square feet. CIT Group arranged the loan on behalf of the borrower, a joint venture between Anchor Health Properties, MedProperties and CDC Realty.

June 22, 2018

Acquisitions Office Texas

JLL Brokers Sale of Former Halliburton Office Campus in Houston

by Taylor Williams June 21, 2018

HOUSTON — JLL has brokered the sale of Halliburton’s former Oak Park campus, a 48-acre office property located in the Westchase District of Houston. The property includes a 568,000-square-foot office building, a 17,500-square-foot fitness center, daycare, central plant and a five-level parking garage. The office building was built in 1979 and upgraded in 2013. Rudy Hubbard, Kevin McConn, Rick Goings and Dan Bellow of JLL led the sales effort. A local private investment group purchased the asset for an undisclosed price.

June 21, 2018

Stonebriar-Commons-on-Legacy-Frisco-Texas

Development Office Texas

Windmill to Develop 103,958 SF Office Building in Frisco

by Taylor Williams June 21, 2018

FRISCO, TEXAS — Windmill Development will develop Stonebriar Commons on Legacy, a 103,958-square-foot office building that will be located in the northern Dallas metro of Frisco. The property will feature several floors of parking, views of a nearby golf course and floor-to-ceiling glass, as well as access to a variety of walkable amenities. Construction is scheduled to begin during the fourth quarter. Fults Commercial will handle leasing of the property.

June 21, 2018

Loans Office Texas

Q10 KDH Arranges Two Refinancings Totaling $44.5M for Houston-Area Retail, Multifamily Assets

by Taylor Williams June 21, 2018

HOUSTON — Q10 Kinghorn, Driver, Hough & Co. (Q10 KDH) has arranged two refinancings totaling $44.5 million in the Houston area. In the first transaction, Larry Peters of Q10 KDH arranged $29 million for two undisclosed multifamily assets totaling 642 units. These deals included a 15-year interest-only loan for the first property and a floating-rate loan for the second property. In the second transaction, Buddy Hopson of Q10 KDH placed a $15.5 million loan through a regional bank for the refinancing of Ravenswood Village Shopping Center, a 121,694-square-foot retail center in Huntsville. Additional terms of the transactions were not disclosed.

June 21, 2018

Leasing Activity New York Northeast Office

Knotel Signs 23,800 SF Office Lease in Midtown Manhattan

by David Cohen June 21, 2018

NEW YORK CITY — Flexible workspace provider Knotel has signed a 10-year, 23,800-square-foot lease at 6 West 48th St. in Midtown Manhattan. Knotel will occupy the entire second floor through the fourth floor at the 12-story office building as well as the top floor and penthouse. Amanda Bokman and Lloyd Desatnick of JLL represented the building owner in the transaction. Knotel was represented by Elie Reiss of Skylight Leasing. Constructed in 1919, the boutique office building features a recently renovated lobby and is located between Fifth Avenue and Rockefeller Plaza.

June 21, 2018

Development Office Southeast Tennessee

Endeavor, Granite Properties to Break Ground on 20-Story Office Tower in Nashville’s Gulch District

by Camren Skelton June 21, 2018

NASHVILLE, TENN. — Endeavor Real Estate Group, in a joint venture with Granite Properties, will break ground in early August on Gulch Union, a three-phase mixed-use development in Nashville. Located in The Gulch neighborhood, the first phase is 1222 Demonbreun, a 20-story, 329,000-square-foot office building. Designed by Dallas-based architect HKS Inc. to achieve LEED Silver certification, the office building will feature 6,000 square feet of ground-floor retail space, a fitness center with lockers and showers, a 48-seat training room, indoor/outdoor sky lounge, catering kitchen, micro-market serving snacks and meals and onsite property management. Turner Construction Co. is the general contractor for the building, and International Bank of Commerce is providing construction financing. Austin-based Endeavor and Dallas-based Granite Properties expect to wrap up construction on 1222 Demonbreun in May 2020. Located between 12th and 13th avenues and McGavock and Demonbreun streets, Gulch Union will serve as the gateway into The Gulch, uniting South Gulch with Broadway and Music Row. Future phases of the project will include retail, residential and a boutique hotel.

June 21, 2018

Georgia Leasing Activity Office Southeast

Allen Morris Signs Spaces to 56,121 SF Lease at Star Metals Offices in Atlanta’s West Midtown District

by Camren Skelton June 21, 2018

ATLANTA — The Allen Morris Co. has signed Spaces to a 56,121-square-foot lease at Star Metals Offices, the commercial component of the mixed-use Star Metals Atlanta development in Atlanta’s West Midtown district. The coworking company will occupy the seventh and eighth floors of the building, located at 1055 Howell Mill Road. The space will include a 5,642-square-foot ground-floor reception area, private business club and 8,000 square feet of outdoor amenity space for Spaces’ tenants. Benjamin Moss of JLL represented Regus, Spaces’ parent company, in the lease transaction, and JLL’s Jeff Bellamy, Brooke Dewey and Elizabeth Koteles represented Allen Morris Co. Star Metals Offices will offer approximately 230,000 square feet of office space, 25,000 square feet of ground-floor retail and a 5,000-square-foot rooftop restaurant and bar. Amenities will include landscaped outdoor terraces, tenant collaboration areas, a fitness center and a bike rack. Oppenheim Architecture and Warner Summers Architecture are designing the building, which is slated for completion in spring 2020.

June 21, 2018

Acquisitions California Office Western

Ensign Group Purchases 115,517 SF Office Building in Southern California

by Amy Works June 21, 2018

SAN JUAN CAPISTRANO, CALIF. — The Ensign Group, on behalf of a wholly owned subsidiary, has acquired an office building located in San Juan Capistrano. The name of the seller and acquisition price were not released. The Ensign Group plans to enter into a lease with its wholly owned subsidiary, Ensign Services, and expects Ensign to occupy a portion of the 115,517-square-foot property upon termination of its existing office leases in 2019. At the time of acquisition, the property was 92 percent occupied by third-party tenants. The Ensign Group is the parent company of the Ensign line of skilled nursing, rehabilitative care services, home healthcare, hospice care and assisted living companies. Mitch Lundquist and Ryan Hawkins of JLL represented the buyer in the transaction.

June 21, 2018

Acquisitions Industrial Office Texas

J. Beard Brokers Sale of Three Flex Buildings Totaling 13,850 SF in Houston

by Taylor Williams June 20, 2018

HOUSTON — The J. Beard Real Estate Co. has brokered the sale of three flex buildings totaling 13,850 square feet of office and warehouse space in Houston. Ryan Hutson of J. Beard represented the seller, Continuum Investments, in the transaction. Vicky Kuczbel-Rogers of Walzel Properties represented the buyer, G. Ramirez, which will also occupy the buildings.

June 20, 2018

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