Office

CBRE Arranges $13.9M Sale of Retail, Medical Office Property in Chandler

by Nellie Day November 29, 2017

CHANDLER, ARIZ. — CBRE has arranged the $13.9 million sale of Dobson Center, a 41,546-square-foot retail and medical office center in Chandler. Dobson Center includes a freestanding Starbucks Coffee, 12,842 square feet of retail space and a 26,704-square-foot medical office building. At the time of sale, the property was more than 97 percent leased to tenants including MomDoc, Sonora Quest, Pure Barre, East Valley Internal Medicine and Solis Mammography. Andrew Fosberg, Chris Ackel and Dylan Brown of CBRE arranged the transaction on behalf of the seller, Dobson Center LLC, an entity formed by ZDI LLC. Marilyn Kidd of Coldwell Banker Commercial represented the buyer, Philip Landry and Donna Landry Family Trust.

November 29, 2017

Industrial Massachusetts Mixed-Use Northeast Office Retail

Senate Construction to Build 50,000 SF Mixed-Use Facility in Tyngsborough, Massachusetts, for Crane Realty Trust

by Amy Works November 28, 2017

TYNGSBOROUGH, MASS. — Senate Construction Co. has been awarded the design/build contract to construct a mixed-use facility in Tyngsborough for Crane Realty Trust. The 50,000-square-foot building will feature office and manufacturing space. Mass Crane & Hoist Inc. will use the facility as its new headquarters.

November 28, 2017

New York Northeast Office

NAI Long Island Brokers $1.3M Sale of Office Building in Huntington, New York

by Amy Works November 28, 2017

HUNTINGTON, N.Y. — NAI Long Island has arranged the sale of an office building located at 187 E. Main St. In Huntington. Home Energy Solutions acquired the property from an undisclosed seller for $1.3 million. The building features 4,750 square feet of office space, as well as a large storage area. Gary Pezza of NAI Long Island represented the buyer and seller in the deal.

November 28, 2017

Office Texas

Peloton Secures 5,631 SF Office Lease in North Austin

by Taylor Williams November 28, 2017

AUSTIN, TEXAS — Peloton Commercial Real Estate LP has secured a 5,631-square-foot office lease at 3918 N. Lamar Blvd. in north Austin on behalf of Austin-based restaurant operator K&N Management. The site will serve as the new location for Rudy’s Country Store and Bar-B-Q. Tom Rhea and Brian Liverman of Peloton represented the tenant in the lease negotiations. Jack Burton of Crockett Partners represented the landlord.

November 28, 2017

California Office Western

Laurus Corp. Buys 72,928 SF Medical Office Building in Southern California

by Nellie Day November 28, 2017

LAGUNA HILLS, CALIF. — An affiliate of Laurus Corp. has purchased Saddleback Financial Center, a 72,928-square-foot medical office tower in Laguna Hills, for an undisclosed sum. The building is situated adjacent to Laguna Woods Village and the Laguna Hills Mall in the South Orange County submarket. Saddleback Financial Center is currently 68 percent leased. Notable tenants include the Department of Rehabilitation and California Bank and Trust. The four-story building was renovated in 2003. HFF’s Evan Kovac, Derreck Barker, Andrew Milne and Trent Jemmett represented both the buyer and seller, True North Management Group, in this transaction.

November 28, 2017

California Office Western

Tower Investments Purchases Office Building in San Diego for $3.2M

by Nellie Day November 28, 2017

SAN DIEGO — Tower Investments LLC has acquired a 19,129-square-foot office building in the San Diego submarket of La Jolla for $3.2 million. The building is located at 800 Silverado St. The three-story building is situated on an 11,326-sqaure-foot parcel with a remaining 31-year ground lease. The building was constructed in 1986. It was fully occupied at the time of sale. Notable tenants include City National Bank and Blanchard, Krasner and French law firm. The LLC represented itself, while Paul Lafrenz of Colliers International and Pascal Aubry-Dumand of JLL represented the seller, Laubro No.1 LLC, in this transaction.

November 28, 2017

Office Utah Western

Sorenson Media Expands Headquarters in Lehi, Utah

by Nellie Day November 28, 2017

LEHI, UTAH — Sorenson Media has expanded its headquarters in Lehi, absorbing an additional 30,648 square feet. The office building is located at 2000 W. Ashton Blvd. in Thanksgiving Station. Construction of the project is ongoing, and Sorenson will occupy a total of 91,977 square feet. Chris Falk and Braxton Willie of Newmark Grubb ACRES represented Sorenson in this transaction.

November 28, 2017

North Carolina Office Southeast

Trinity Partners Brokers Sale of 357,654 SF Office Park in Charlotte

by Camren Skelton November 28, 2017

CHARLOTTE, N.C. — Trinity Partners has arranged the sale of Harris Corners Corporate Park, a three-building, 357,654-square-foot office park in Charlotte. Dunn Mileham, David Morris, Mark Alviano, Jennifer Kurz and John Ball of Trinity Partners arranged the transaction on behalf of the seller, an entity affiliated with New Boston Fund. Bridge Investment Group acquired the buildings for an undisclosed price. At the time of sale, Harris Corners was 84 percent leased to more than 40 tenants. Trinity’s Ball and Kurz will continue to handle the property’s leasing assignment under the new ownership.

November 28, 2017

California Office Top Stories Western

KBS Strategic Opportunity REIT Sells 11-Property Office Portfolio to Singapore-Based Investor for $804M

by Katie Sloan November 28, 2017

NEWPORT BEACH, CALIF. — KBS Strategic Opportunity REIT Inc. has sold a portfolio of 11 office properties to various subsidiaries of Keppel-KBS US REIT, a newly formed Singapore-based REIT, for $804 million. “We believe that the Singapore transaction was an excellent opportunity to monetize these assets at attractive pricing and to utilize a substantial portion of the net proceeds to invest in new opportunistic investments, as well as current capital projects,” says Keith Hall, CEO and director of KBS Strategic Opportunity REIT. The portfolio of properties includes: 1800 West Loop, a 400,101-square-foot office tower in Houston. Westech 360, a 175,529-square-foot, four-building office park in Austin, Texas. Great Hills Plaza, a 139,252-square-foot, three-story office building in Austin. Westmoor Center, a 612,890-square-foot, six-building office campus in Westminster, Colo., 11 miles northwest of Denver. Iron Point Business Park, a five-building, 211,887-square-foot office park in Folsom, Calif. The Plaza Buildings, two office properties totaling 490,994 square feet in Bellevue, Wash., 10 miles outside Seattle. Bellevue Technology Center, a 330,508-square-foot, nine-building office campus located in Bellevue. Northridge Center I and II, two office buildings totaling 188,509 square feet in Atlanta. West Loop I and II, a 313,873-square-foot, multi-tenant office complex in the Bellaire submarket of Houston. Powers …

November 28, 2017

Loans Mixed-Use New York Northeast Office Restaurant Retail

Madison Realty Capital Closes $64M Construction Loan for Mixed-Use Development in Brooklyn

by Amy Works November 27, 2017

NEW YORK CITY — Madison Realty Capital has provided a $64 million construction loan for 200 Kent Avenue, a mixed-use development located in Brooklyn’s Williamsburg neighborhood. The 117,326-square-foot project will feature 50,101 square feet of retail space, 22,055 square feet of office and restaurant space and 45,170 square feet of parking. The retail portion of the development will be anchored by a popular national grocery chain. MRC funded a portion of the $64 million facility at closing to retire existing debt and will provide further advances for construction as the project progresses.

November 27, 2017

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