KENOSHA, WIS. — Morgan/Harbour Construction is expanding operations and opening an office in Kenosha. This will be the third office and first outside of Illinois for the general contractor. Slated to open in May, the office is located at 6905 Green Bay Road. The new location will house both permanent staff as well as provide work stations for those traveling from other offices. Morgan/Harbour currently maintains an office in downtown Chicago and its headquarters in Willowbrook, Ill.
SAN DIEGO — CBRE Capital Markets’ Debt & Structured Finance team has arranged a $44.7 million loan for the refinancing of Manchester Financial Centre. The office property located at 2550 Fifth Ave. in San Diego’s Bankers Hill submarket. Mark McGovern, Scott Peterson and Brian Cruz of CBRE’s San Diego office secured the 10-year, fixed-rate loan for the borrower, Manchester Financial Group. Originally built in 1965, the 12-story, 160,000-square-foot features a fitness center, an on-site coffee shop, valet parking, storage and bicycle racks. Tenants include Bertrand at Mister’s A, a fine dining restaurant, and Manchester Financial Group.
SAN DIEGO — BLT Enterprises has completed the renovation of a two-story, 77,000-square-foot office building located at 5454 Ruffin Road in San Diego’s Kearny Mesa submarket. The company originally acquired the property in 2017 and has converted it back to its original 54,000-square-foot footprint by removing the dated addition of a second-story office space constructed in the late 1980s. The renovated space features modern office, research and development, and flex space, as well as an enhanced parking ratio. Additional renovations include an updated exterior, new HVAC equipment and a new roof membrane. Ware Malcomb provided architectural services and Bycor General Contracting served as the contractor for the project.
AUSTIN, TEXAS — HFF has secured approximately $19.9 million in financing for a project to convert 81,711 square feet of warehouse space in Austin into a creative office property. Branded UpCycle, the new office property will be located on Sixth Street in East Austin and will feature conference space, bike storage and a coffee bar. Robert Wooten and Eric Tupler of HFF placed the loan on behalf of the borrower, a joint venture between EverWest Real Estate Investors and WHI Real Estate Partners. An entity affiliated with Marathon Asset Management LP originated the loan, which features a three-year term and a floating interest rate. Proceeds from the loan will be used to complete the conversion by May.
NEW YORK CITY – Valley East Management has acquired a two-building office complex located at 100 Merrick Road within Rockville Centre in Long Island. A New York investment advisory firm sold the asset for an undisclosed price. The 141,000-square-foot complex features an on-site café, tenant storage and on-site parking. At the time of sale, the property was 93 percent leased to a variety of tenants in the legal services, medical/healthcare and accounting industries. Jose Cruz, Kevin O’Hearn, Jeffrey Julien, Stephen Simonelli and Michael Oliver of HFF represented the seller and procured the buyer in the deal.
FAIRFIELD, CONN. – Angel Commercial has arranged the sale of two adjacent office buildings located at 328 and 338 Commerce Drive in Fairfield. CDR-328 LLC acquired the properties from 328 Commerce Drive LLC and 338 Commerce Drive LLC for $8.2 million. Situated on 1.9 acres, the properties total 48,958 square feet of office space. Angel Commercial solely handled the off-market transaction.
MIDDLETOWN, N.Y. – Marcus & Millichap has brokered the sale of an office property located at 220 Crystal Run Road in Middletown. A private investor sold the property to an undisclosed buyer for $2.7 million. Since 1998, Fresenius Dialysis has occupied the 10,000-square-foot building. Michael Lombardi and Steven Schiavello of Marcus & Millichap represented the seller, while Christopher Mitchel and Ryan Moore, also of Marcus & Millichap, represented the buyer in the transaction.
METAIRIE, LA. — Stirling Properties has brokered the sale of The Executive Office Tower, a 184,608-square-foot office building located at 3500 N. Causeway Blvd. in Metairie, roughly eight miles northwest of New Orleans. Roger Bajon of Stirling Properties arranged the transaction on behalf of the undisclosed seller. A Dallas-based investor acquired the 14-story building for an undisclosed price. The Executive Office Tower is home to tenants such as Keystone Engineering.
PORTLAND, ORE. — NKF Capital Markets has arranged the sale of the historic Towne Storage, an office property located in Portland’s Central Eastside submarket. CBRE Global Investors acquired the 100,022-square-foot property for an undisclosed price. Autodesk Inc., an investment-grade credit tenant, occupies property. Nick Kucha and James Childress of NKF Capital Markets represented the seller, Westport Capital Partners.
WESTLAKE VILLAGE, CALIF. — Lee & Associates-LA North/Ventura has arranged the sale of an office building located at 31248 Oak Crest Drive in Westlake Village in metro Los Angeles. K-Swiss, an athletic footwear maker, sold the property to Selleck Development Group for $11 million. The 53,133-square-foot building was constructed as a build-to-suit for K-Swiss and the company occupied the property from 1999 until it relocated to downtown Los Angeles. Joe Jusko of Lee & Associates represented the seller, while Mike Tingus and Grant Fulkerson of Lee & Associates represented the seller.