Office

Mortgage Company to Relocate Headquarters to New $34M Office Building Near Charlotte

by Camren Skelton May 24, 2018

FORT MILL, S.C. — RoundPoint Mortgage Servicing Corp. will expand and relocate its headquarters from Charlotte, N.C., to a new $34 million office building in Fort Mill, a South Carolina suburb of Charlotte. The new facility will bring 1,100 new jobs to the area upon completion in the third quarter of 2019. Dan Woodley of Savills Studley arranged the 150,000-square-foot, build-to-suit deal on behalf of RoundPoint. The new building will be located within Southbridge Business Park, a 350-acre property owned by Lincoln Harris and Cato. The RoundPoint building is the first planned new construction of the Southbridge development since the joint venture acquired the property in 2014. The South Carolina Coordinating Council for Economic Development approved job development credits, as well as a $500,000 Set Aside grant to York County to assist with the costs of site preparation and building construction. Founded in 2007, RoundPoint is a fully licensed agency and non-agency subservicer for commercial banks, credit unions, mortgage companies and hedge funds.

May 24, 2018

Acquisitions Nevada Office Western

Commercial Executives Real Estate Arranges $1.8M Sale of Office Space in Las Vegas

by Amy Works May 24, 2018

LAS VEGAS — Commercial Executives Real Estate Services has brokered the sale of a professional office space located at 1120 Shadow Lane in Las Vegas. Shadow Lane Property sold the building to Moorea Holdings LLC for $1.8 million. The property features 9,800 square feet of office space. Soozi Jones Walker and Bobbi Miracle of Commercial Executives Real Estate Services represented the seller in the deal.

May 24, 2018

Industrial Loans Midwest Office Ohio

KeyBank Originates $125M CMBS Loan for Refinancing of 2.7 MSF Industrial, Office Portfolio

by Kristin Harlow May 23, 2018

CLEVELAND — KeyBank Real Estate Capital has originated a $125 million CMBS loan for the refinancing of Griffin Capital Essential Asset REIT II, a four-property commercial real estate portfolio. The properties total 2.7 million square feet and include two industrial buildings and two office buildings. The properties are located in Columbus, Ohio; Chicago; Las Vegas; and Birmingham, Ala. Randy Martin of Cleveland-based KeyBank originated the 10-year loan. In addition to KeyBank’s loan, Bank of America NA provided $125 million in CMBS financing.

May 23, 2018

Acquisitions California Office Western

Coretrust Capital Acquires 640,000 SF Office Campus in Pasadena, California

by Amy Works May 23, 2018

PASADENA, CALIF. — Coretrust Capital Partners, through its investment fund Coretrust Value Fund I, has purchased Corporate Center Pasadena, a four-building office campus located at 201, 225, 251 and 283 S. Lake Ave. in Pasadena. The acquisition price was not disclosed. The 640,000-square-foot property features 40,000 square feet of retail space, a 60,000-square-foot plaza and more than 2,000 parking stalls. Coretrust acquired the campus from an ownership group that controlled the property for more than 30 years. The buyer plans to invest more than $90 million in renovations to the property. Renovations include upgrading the buildings with state-of-the-art technologies; creating inviting public spaces, including plazas, gardens and terraces; updating all lobbies; modernizing elevators; and adding on-site tenant serving businesses.

May 23, 2018

Arizona Development Office Western

Lincoln Property Co., Harvard Investments Selected to Build 1.35 MSF Office Project in Mesa, Arizona

by Amy Works May 23, 2018

MESA, ARIZ. — The Mesa City Council has selected Lincoln Property Cos. and Harvard Investments to develop 28.2 acres of city-owned land in the Riverview mixed-use district of Mesa. Upon completion, the “Union” project will bring 1.35 million square feet of Class A office space to the district. Union will include four buildings ranging from four to eight stories and fro 225,000 square feet to 450,000 square feet. Each building will feature large and open floorplates and high ceilings. Constructed in phases, the first building will be the four-story, 225,000-square-foot Building A located at the northwest corner of the property, followed by Buildings B and C, totaling up to six stories and 337,500 square feet. The final building, Building D, will feature eight stories and 450,000 square feet. Construction on Building A is slated to begin in 2019. DAVIS is the project architect, and Layton Construction Co. is serving as the general contractor. Dave Carder and Scott Boardman of Cushman & Wakefield are exclusive leasing brokers for the project.

May 23, 2018

Development Georgia Office Southeast

Zeller Realty Group Unveils Renovation Plans for 620,000 SF Office Tower in Downtown Atlanta

by Camren Skelton May 23, 2018

ATLANTA — Zeller Realty Group (ZRG) has unveiled its renovation plans for 100 Peachtree, a 620,000-square-foot, Class A office tower in downtown Atlanta. ZRG — which is a tenant at the building — has partnered with architecture firm Gensler to redesign the property’s amenity spaces. Renovations call for a modernized lobby, new outdoor gathering spaces, soft seating, an interactive screen, public art installations, interactive conference center, tenant lounge and an upgraded fitness center. In addition, ZRG will work with Georgia’s Own Credit Union — also a 100 Peachtree tenant — and Skanska USA to bring the first digital building-top signage to Atlanta. The 174-foot long digital sign will display Georgia’s Own Credit Union’s logo on an energy-efficient, LED sign, as well as community-oriented messages promoting local and charitable events. Amenity upgrades at 100 Peachtree are expected to be completed in early 2019, and the new digital building-top signage is set to be unveiled in time to welcome fans to Atlanta for Super Bowl LIII. In addition to ZRG and Georgia’s Own Credit Union, 100 Peachtree is home to The Boston Consulting Group, which occupies 60,000 square feet.

May 23, 2018

Leasing Activity New York Northeast Office

Spaces to Open Third New York City Co-Working Location at 230 Park Avenue

by David Cohen May 22, 2018

NEW YORK CITY — Creative working environment Spaces will open its third location in New York City on May 29 at 230 Park Ave. Spaces 230 Park Avenue will provide a 54,000 square-foot creative co-working environment for businesses and will feature a 4,000-square-foot business club as well as private rooms and dedicated desk space. The location joins Spaces 1740 Broadway and Spaces Long Island City as the third Spaces location in New York City. Additional Spaces locations are planned for Hudson Yards, Brooklyn and Staten Island. The Spaces workspace model lets startups, small business owners and more established entities focus on growing their companies without the distraction of office logistics.

May 22, 2018

Acquisitions California Loans Office Western

HFF Arranges $109.8M Sale of, $103.6M Financing for Office Building in San Francisco

by Amy Works May 22, 2018

SAN FRANCISCO — HFF has arranged the sale of a subdivided office condominium interest in 1390 Market St., a transit-oriented office building in San Francisco. Broadreach Capital Partners sold the property to Swift Real Estate Partners for $109.8 million. Michael Leggett, Gerry Rohm, David Dokko, Ben Bullock, Thomas Foley and Austin White of HFF represented the seller and procured the buyer in the deal. Additionally, Jordan Angel and Bercut Smith, also of HFF, arranged a $103.6 million floating-rate loan through Brookfield for the buyer. Located in San Francisco’s Mid-Market, the property features 218,791 square feet of office space and 920 square feet of ground-floor retail space. Originally built in 1967, the property was renovated in 2007. Current tenants include Twitter, Jones Clifford and several branches of the City of San Francisco. The property also includes apartments on the top floors, which were not included in the sale or financing.

May 22, 2018

Acquisitions California Office Western

Voit Real Estate Negotiates $1.5M Sale of Office Building in Chula Vista, California

by Amy Works May 22, 2018

CHULA VISTA, CALIF. — Voit Real Estate Services has arranged the sale of an office building located at 2090 Otay Lakes Road in Chula Vista. Stars Intervention Inc. purchased the building from Pathfinder Otay Holdings, an affiliate of Pathfinder Partners, for $1.5 million. Located within Eastlake Medical and Professional Center, the property features 6,638 square feet of office space. Tracy Clark and Kimberly Clark of Voit Real Estate Services’ San Diego office represented the seller, while Denisse Sanchez of Remax Clarity represented the buyer in the transaction.

May 22, 2018

California Leasing Activity Office Property Type Top Stories Western

Facebook Signs Full-Building Lease for 43-Story Office Tower in San Francisco

by John Nelson May 22, 2018

SAN FRANCISCO — Social media giant Facebook Inc. (NASDAQ: FB) has signed a long-term lease to fully occupy Park Tower at Transbay, a 43-story office tower under construction in San Francisco’s Financial District. According to the San Francisco Business Times, the transaction is the largest office lease in the history of the city and will make Facebook the market’s third-largest tech tenant by square footage. Park Tower is co-owned by MetLife Investment Management, the asset management arm of MetLife Inc. (NYSE: MET), as well as Chicago-based owners and developers The John Buck Co. and Golub & Co. The ownership group plans to deliver the 764,700-square-foot office tower in the fourth quarter of this year. “We’re pleased to welcome Facebook to Park Tower,” says Joel Redmon, San Francisco-based managing director for MetLife Investment Management’s real estate business. “We’ve worked hard to design an office of the future that will facilitate technological innovation and provide a great foundation for Facebook’s future success.” Designed by Goettsch Partners and Solomon Cordwell Buenz, Park Tower at Transbay will feature approximately 26,000 square feet of outdoor and open space that includes 14 sky decks. The project will also feature a three-story, open-air lobby, and about 70 …

May 22, 2018

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