Office

Tech Firm Signs 40,000 SF Office Lease for Austin Headquarters

by Taylor Williams March 30, 2018

AUSTIN, TEXAS — Innovative Aftermarket Systems (IAS), a provider of management solutions for the finance and insurance industries, has signed a 40,000-square-foot office lease at Preserve at 620 in Austin. The company will establish its headquarters at the 225,000-square-foot property, which is currently under construction. Amenities at the property will include a fitness center, sports court and open courtyard spaces. Ryan Bohls of Newmark Knight Frank represented IAS in the lease negotiations. Ben Tolson and Joe Simmons with AQUILA Commercial represented the landlord and developer, San Diego-based PacVentures Inc.

March 30, 2018

Acquisitions Colorado Office Restaurant Retail Western

M&J Wilkow, MetLife Buy 1.7 MSF Shopping Center in Metro Denver

by Amy Works March 30, 2018

AURORA, COLO. — M&J Wilkow Ltd., along with MetLife Investment Management, has acquired The Southlands, a retail center located in southeast Aurora. Developed in 2005, the 1.7 million-square-foot complex features retail and office space. Tenants include AMC Theatres, Dick’s Sporting Goods, H&M, Bed Bath & Beyond, Barnes and Noble, Ross Dress for Less, Ulta Beauty and Best Buy. Additionally, the center consists of a traditional power center component, an open-air lifestyle component (known as the Town Center) with fashion, food and entertainment and office space totaling more than 917,000 square feet. Southlands is the third retail center co-owned by M&J Wilkow and MetLife. The name of the seller and acquisition price were not released.

March 30, 2018

Acquisitions California Healthcare Office Western

Commercial Asset Group Brokers $13.7M Sale of Medical Office Building in Mission Hills, California

by Amy Works March 30, 2018

MISSION HILLS, CALIF. — Commercial Asset Group has arranged the acquisition of a medical office building located at 11155-11166 Sepulveda Blvd. in Mission Hills. Porter Ranch, Calif.-based San Fernando Professional Building sold the property to a Burbank, Calif.-based family investment group for $13.7 million. Facey Medical Group, a division of Providence Hospitals, occupies the 33,438-square-foot building. David Aschkenasy of Commercial Asset Group represented the buyer, while Mark Oliver of Realty Executives Valencia represented the seller in the deal.

March 30, 2018

Development Healthcare Office Southeast Virginia

Washington Property Breaks Ground on 67,000 SF Medical Office Building in Metro D.C.

by Camren Skelton March 30, 2018

DULLES, VA. — Washington Property Co. (WPC) has started construction on Stone Ridge Medical Center, a 67,000-square-foot medical office building in Dulles, roughly 30 miles west of Washington, D.C. The three-story building is currently preleased to three tenants: Virginia Pediatric Group, which will occupy 4,500 square feet; Jackson Clinics, which will occupy 3,000 square feet; and Royal Care Pharmacy, which will occupy 1,500 square feet. Total project costs for the development, including land acquisition, are $21 million. Stone Ridge Medical Center will be located across the street from the recently opened HCA StoneSprings Medical Center hospital. The building is expected to open by the end of the year.

March 30, 2018

Acquisitions Colorado Office Western

Pinnacle Real Estate Arranges $3.4M Sale of Office Building in Castle Rock, Colorado

by Amy Works March 29, 2018

CASTLE ROCK, COLO. — Pinnacle Real Estate Advisors has brokered the sale of a multi-tenant office building located at 1189 S. Perry St. in Castle Rock, a suburb of Denver. An undisclosed buyer acquired the property for $3.4 million, or $269.51 per square foot. Built in 2005, the property features approximately 12,801 square feet of office space. Corey Sandberg and Jeff Johnson of Pinnacle represented the undisclosed seller in the transaction.

March 29, 2018

Development Michigan Midwest Office

Jonna Breaks Ground on 180,000 SF Tech Office Building for Autoliv in Southfield, Michigan

by Kristin Harlow March 28, 2018

SOUTHFIELD, MICH. — Jonna Construction has broken ground on a 180,000-square-foot tech office building for Autoliv in Southfield near American Drive and I-696. Autoliv, an automotive safety systems company, will use the facility as its North American electronics technical center. Approximately 600 workers will relocate to the site. The landlord is Jonna Realty Ventures. John Gordy of Signature Associates brokered the lease transaction between the two parties. Completion is slated for the first half of 2019. Cathy Bronkema of Cohen Financial, a division of SunTrust Bank, arranged a $40 million construction loan for the project.

March 28, 2018

Loans Midwest Missouri Office

CBRE Arranges $8.7M Refinancing for Coworking Office Building in Kansas City

by Kristin Harlow March 28, 2018

KANSAS CITY, MO. — CBRE has arranged an $8.7 million loan for the refinancing of Westport Commons in Kansas City. The borrower, Sustainable Development Partners of Kansas City, purchased the abandoned former school and converted it into a coworking office property. The project, completed in mid-2017, is now fully leased. John Perlik and Don Coleman of CBRE | Capstone arranged the permanent fixed-rate loan, which features a 20-year amortization schedule.

March 28, 2018

Acquisitions Industrial Office Texas

Hartman REIT Acquires 96,660 SF Flex Property in Metro Dallas

by Taylor Williams March 27, 2018

RICHARDSON, TEXAS — A subsidiary of Hartman Income REIT Management Inc. has acquired Richardson Tech Center, a 96,660-square-foot flex property in Richardson, a northeastern suburb of Dallas. The multi-tenant property consists of four buildings. Zane Marcell and Dustin Volz of JLL represented the undisclosed seller in the transaction. David Wheeler and Russell Turman represented Hartman internally. HFF arranged acquisition financing for the deal through Southside Bank.

March 27, 2018

Leasing Activity Office Texas

Colliers Negotiates 21,816 SF Office Lease Expansion in Metro Dallas

by Taylor Williams March 27, 2018

GRAPEVINE, TEXAS — Colliers International has negotiated a 21,816-square-foot office lease expansion at 2200 W. Airfield Drive in the Dallas metro of Grapevine on behalf of software firm DexYP. The company now occupies 449,040 square feet at the property, which was built in 1979 and features a fitness center, café and auditorium. Bob Acuff and Tom Sutherland of Colliers represented DexYP in the lease negotiations. D.J. Decker of CBRE represented the landlord, Verizon Realty Corp.

March 27, 2018

Leasing Activity Maryland Office Southeast

Rock Creek Signs Pharmaceutical Company to 119,000 SF Lease for Suburban Maryland Headquarters

by Camren Skelton March 27, 2018

GAITHERSBURG, MD. — Rock Creek Property Group has leased the entire building at 700 Quince Orchard Road in Gaithersburg to Supernus Pharmaceuticals. The company, which specializes in therapies for central nervous system diseases, will utilize the 119,000 square feet for its new company headquarters. Rock Creek Property Group and Woodside Ventures acquired the building in 2015, and will convert the space into Class A lab and office space with a first floor indoor parking structure. The owners expect to complete the renovation in mid-2019. The building is part of a 13-acre parcel of land that will eventually include roughly 150 townhomes. Supernus Pharmaceuticals will relocate from its current location at 1550 E. Gude Drive in Rockville, Md. Edge Commercial represented Rock Creek Property Group in the lease negotiations, and Scheer Partners represented Supernus.

March 27, 2018

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