Office

Ready Capital Provides $11.5M Loan for Acquisition, Conversion of Warehouse in Miami

by Camren Skelton October 6, 2017

MIAMI — Ready Capital Structured Finance has provided an $11.5 million loan for the acquisition of an industrial warehouse in Miami. Located in the Wynwood Art District, the 35,000-square-foot property will be renovated and converted into a creative office building featuring ground floor retail space. The undisclosed borrower signed a lease with an office tenant that will occupy a portion of the building upon completion of the planned capital improvements. The 24-month loan features one extension option and is inclusive of a facility to provide for capital expenditures, leasing costs and interest and carry reserves.

October 6, 2017

California Loans Office Western

MedProperties Holdings Receives $160.6M Acquisition Loan for Medical Office Portfolio

by Nellie Day October 6, 2017

LOS ANGELES — An investment affiliate of MedProperties Holdings has received a $160.6 million loan to acquire a 17-property medical and medical office portfolio that spans 10 states. The portfolio includes a total of 620,000 square feet. The majority of these assets are located off of hospital campuses. MedProperties is a Dallas-based private equity fund that invests in the development and acquisition of healthcare real estate. This includes medical office buildings, ambulatory surgery centers, inpatient rehabilitation facilities and surgical hospitals. MedProperties invests on a direct and an indirect basis through joint venture relationships. The firm develops new, value-add, and stabilized healthcare real estate, including multitenant medical office buildings and single-tenant specialty healthcare facilities. Capital One served as joint lead arranger, sole bookrunner and administrative agent on the loan transaction. Capital One Healthcare is a financial services provider across healthcare sectors, including seniors housing, healthcare services, pharmaceuticals, medical devices, healthcare IT and medical offices.

October 6, 2017

California Office Western

Thai Union North America Relocates in El Segundo

by Nellie Day October 6, 2017

LOS ANGELES — Thai Union North America has relocated to a 33,000-square-foot creative office campus in the Los Angeles submarket of El Segundo. The Class A campus is located at 2100, 2120 and 2150 Grand Ave. inside the Campus 2100 building. The new lease by Thai Union brings the campus to 94 percent occupancy. Travers Cresa represented Thai Union. Chris Sinfield and Tom Sheets of Cushman & Wakefield represented the landlord, a joint venture between Rockwood Capital and Marshall Property & Development, in this transaction.

October 6, 2017

California Office Western

Cloudvirga Leases 11,918 SF of Office Space in Irvine

by Nellie Day October 6, 2017

IRVINE, CALIF. — Cloudvirga has leased 11,918 square feet of office space in Irvine. The space is located at 2875 Michelle Drive within Jamboree Business Center. The modern fintech company for the home lending industry will use the space as its corporate headquarters. The new office will allow the company room for growth. JLL’s Scott Wetzel represented Cloudvirga, while the landlord, Irvine Co., was represented in-house by Gavin Galey and Mike Santley.

October 6, 2017

Office South Carolina Southeast

CBRE Arranges Sale of 460,020 SF Office Tower in Columbia, South Carolina

by Camren Skelton October 5, 2017

COLUMBIA, S.C. — CBRE has arranged the sale of Capitol Center, a 460,020-square-foot office building in Columbia. The 25-story tower is the tallest building in South Carolina, and was 87 percent leased at the time of sale to tenants including Haynsworth Sinkler Boyd, BB&T, Alliance Consulting Engineers, Gallivan White & Boyd and the South Carolina Department of Commerce. In addition, Capitol Center is home to Capital City Club, the building’s private dining club. Justin Parsonnet, Will Yowell, Ryan Reethof, Patrick Gildea, Martin Moore and Aaron Dupree of CBRE represented the seller, a joint venture between M&J Wilkow and Intercontinental Real Estate Corp., in the transaction. Hamilton Equity Partners, which acquired the building for an undisclosed price, will update the building’s main lobbies, conference facilities, elevators and common areas. Hamilton Equity has retained CBRE as the exclusive leasing agent for Capitol Center.

October 5, 2017

Office Texas

CBRE Negotiates Sale of 100,260 SF Office Property in San Antonio

by Taylor Williams October 5, 2017

SAN ANTONIO — CBRE has negotiated the sale of a 100,260-square-foot, Class A office property located at 3302 N. Ellison Drive in San Antonio. Amenities include a full-service cafeteria, outdoor patio with cooking stations, fitness center, wellness clinic and a walking/running trail. Gary Carr and John Alvarado of CBRE, along with Todd Mills and Hunter Mills of Cushman & Wakefield arranged the transaction on behalf of the seller, SRP Office Holdings I LLC. Houston-based Radler Enterprises Inc. purchased the asset for an undisclosed price.

October 5, 2017

Connecticut Northeast Office

Angel Commercial Brokers $1.3M Sale of Office Building in Fairfield, Connecticut

by Amy Works October 4, 2017

FAIRFIELD, CONN. — Angel Commercial has arranged the sale of an office building located at 134 Round Hill Road in Fairfield. Round Hill Road Partners sold the property to 134 Round Hill Road LLC for $1.3 million. Situated on 0.3 acres, the freestanding building features 7,350 square feet of office space. Angel Commercial represented the seller and buyer in the deal.

October 4, 2017

Arizona Office Western

Scottsdale Investment Management Buys West Phoenix Office Building

by Nellie Day October 4, 2017

PHOENIX — Scottsdale Investment Management has purchased a 38,238-square-foot office building in West Phoenix for an undisclosed sum. The property is located at 8800 N. 22nd Ave. It is fully occupied by the Department of Economic Security’s Family Assistance Administration division, which coordinates programs to support Arizona families in need. The space was built in 1986. Mindy Korth, Kirk Kuller and John Barnes of Colliers International and Greg Bamford of Bamford Southwest represented the locally based seller in this transaction.

October 4, 2017

Office Texas

KBS Acquires Two Office Properties Totaling 442,039 SF in Irving

by Taylor Williams October 4, 2017

IRVING, TEXAS — KBS Strategic Opportunity REIT, a private, California-based investment firm, has acquired two office properties totaling 442,039 square feet in Irving. The 18-story 125 East John Carpenter and six-story 5100 North O’Connor are a combined 84 percent leased. Both properties are located near the Gables Water Street mixed-use development and the Irving Music Factory, both of which offer retail, restaurant and entertainment options. The sellers were not disclosed.

October 4, 2017

North Carolina Office Southeast

Somerset, ABR Sell Office Park in Raleigh for $17.8M

by Camren Skelton October 4, 2017

RALEIGH, N.C. — A partnership between Somerset Properties and Alex. Brown Realty Inc. (ABR) has sold Spring Forest Business Center, a three-building flex and office park in Raleigh, for $17.8 million. Chris Norvell, Scot Humphrey and Patrick Nally of HFF represented the seller in the transaction. Stolz Real Estate Fund VI purchased the asset. Located at 3100, 3150 and 3200 Spring Forest Road, the property is within walking distance to more than 15 restaurants and lifestyle amenities. Spring Forest Business Park, constructed between 1984 and 2002, totals 156,036 square feet and features floor-to-ceiling glass windows, patio areas, eight dock doors, four drive-ins and the ability to accommodate uses including office, research and development, showroom, call center or warehouse. The office park was 94.7 percent leased at the time of sale to 10 tenants including Critical Health Systems Inc., Allstate Insurance Co., Adreima and Liberty Home Care.

October 4, 2017

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