Office

Houlihan-Parnes, GHP Office Realty Secure $13M Loan for Office Property in White Plains, New York

by Amy Works February 8, 2018

WHITE PLAINS, N.Y. — Houlihan-Parnes Realtors and GHP Office Realty has secured a $13 million first mortgage for an office property located at 400 Westchester Ave. in White Plains. The loan was placed for a period of 20 years and self-liquidating basis at a rate of 4.06 percent. Fordham University occupies the property with a net lease through 2038. Christie Houlihan, Bryan Houlihan and Andrea Lofaro of Houlihan-Parnes Realtors and GHP Office Realty arranged the loan. Elizabeth Smith of Goldberg Weprin Finkel Goldstein LLP represented the undisclosed borrower and the title was ensured by The Great American Title Agency in White Plains.

February 8, 2018

California Office Western

The Anti-Recidivism Coalition Leases 12,633 SF of Creative Office Space in Los Angeles

by Nellie Day February 7, 2018

LOS ANGELES — The Anti-Recidivism Coalition (ARC) has leased 12,633 square feet of creative office space at ROW DTLA. The space is located at 1320 E. 7th St. The support network for formerly incarcerated young men and women and advocate for fairer criminal justice policies will relocate from the nearby Perch Building. The lease is for 66 months. The landlord is Alameda Square Owner LLC.

February 7, 2018

Industrial Northeast Office Pennsylvania

Colliers Brokers $36M Sale of Five-Property Portfolio in Philadelphia

by Amy Works February 7, 2018

PHILADELPHIA — Colliers International/Philadelphia has arranged the sale of a five-property portfolio of office and industrial buildings located in the East Callowhill section of Philadelphia. Arts & Crafts Holdings purchased the portfolio for $36 million. Totaling more than 195,000 square feet, the portfolio includes 444 N. Third and 309-15 Callowhill Streets; 437-461 N. Third Street; 827 Spring Garden Street; 854-56 N. Third Street and 302-308 Poplar Street; and 600 Spring Garden Street. Michael Barmash and Michael Kahan of Colliers International/Philadelphia arranged the transaction. The properties were part of the Willow Management Corp.’s family-owned portfolio of industrial and office buildings.

February 7, 2018

Colorado Office Western

M & J Wilkow, DRA Advisors Buy 238,302 SF Office Tower in Glendale, Colorado

by Nellie Day February 6, 2018

GLENDALE, COLO. — A joint venture between M & J Wilkow and a fund managed by DRA Advisors LLC has acquired Cherry Creek Corporate Center, a 238,302-square-foot office tower in Glendale, for an undisclosed sum. The 12-story tower is located at 4500 Cherry Creek Drive South. Cherry Creek Corporate Center was built in 1978 southeast of Denver. It recently underwent a $15 million renovation. Amenities include a newly renovated lobby and updated common areas, as well as a fitness center. The property is 85 percent occupied. M & J Wilkow Properties will manage the asset and carry out additional building improvements and amenity enhancements.

February 6, 2018

Georgia Loans Office Retail Southeast

HFF Arranges $16.2M Acquisition Loan for Adaptive Reuse Project in Atlanta

by Camren Skelton February 6, 2018

ATLANTA — HFF has arranged a $16.2 million acquisition loan for Ellsworth Lofts, a three-building adaptive reuse complex located at 1460 and 1510 Ellsworth Industrial Blvd. N.W. in Atlanta’s West Midtown district. Gregg Shapiro of HFF arranged the five-year, floating-rate loan through Wells Fargo Bank on behalf of the borrower, Origin Investments. Ellsworth Lofts comprises two office buildings totaling 80,977 square feet and one retail outparcel totaling 9,840 square feet. Bacchanalia and Star Provisions Market & Café occupy the property’s retail portion. In addition, the 6.7-acre site includes 1.2 acres of developable land. Ellsworth Lofts was 70 percent leased at the time of sale.

February 6, 2018

North Carolina Office Southeast

Rockford, Blue Vista Acquire 153,000 SF Office Building in Charlotte

by Camren Skelton February 6, 2018

CHARLOTTE, N.C. — Rockford Capital Partners, in partnership with Blue Vista Capital Management, has acquired Four Resource Square, a 153,000-square-foot office building in Charlotte’s University submarket. Rob Cochran and Jared Londry of Cushman & Wakefield arranged the transaction on behalf of the undisclosed seller. The sales price was not disclosed. Medical technology provider Allscripts anchors Four Resource Square. Rockford and Blue Vista plan to invest in capital improvements to upgrade the building and available suites. Joe Franco and Katherine Richey of CBRE will handle the building’s leasing assignment on behalf of the new ownership.

February 6, 2018

Office Texas

Transwestern Negotiates Two Office Leases Totaling 142,000 SF in Plano

by Taylor Williams February 6, 2018

PLANO, TEXAS — Transwestern has negotiated two office leases totaling more than 142,000 square feet at Legacy Tennyson Center, a Class A office development in Plano. WorldVentures, a marketer of vacation clubs and packages, expanded its footprint at the property from 100,000 to 125,000 square feet and Connecticut-based insurance company Affinion Group leased 17,153 square feet. Legacy Tennyson Center consists of two buildings totaling 202,600 square feet and offers tenants an outdoor courtyard area and a jogging trail.

February 6, 2018

Industrial Office Texas

JLL Brokers Sale of 93,000 SF Flex Property in Northwest Houston

by Taylor Williams February 6, 2018

HOUSTON — JLL has brokered the sale of a 93,000-square-foot flex property located at 7207 Gessner Road in northwest Houston. GBP Industrial purchased the building from California-based development/management firm Goldrich & Kest Industries LLC. Built in 1997, the two-story, Class B building is fully leased to LabCorp, a North Carolina-based healthcare diagnostics firm. Dustin Volz, Kevin McConn, Rick Goings, Zane Marcell and Grant Matthews of JLL brokered the sale.

February 6, 2018

Office Texas

Skywalker’s Hangover Opportunity Fund Sells 66,885 SF Office Campus in Irving

by Taylor Williams February 6, 2018

IRVING, TEXAS — Hangover Opportunity Fund LLC, a fund managed by Arlington-based Skywalker Property Partners, has sold a three-building, 66,885-square-foot office campus in Irving to an undisclosed oil and gas firm. The buildings are situated on 4.6 acres at 6301, 6321 and 6341 Campus Circle Drive, just outside Dallas-Fort Worth International Airport. The property recently underwent a $350,000 capital improvements program to repair foundations and underground plumbing, revamp the landscaping and develop office suites on a speculative basis. Matt Hurlbut of Transwestern represented the seller in the all-cash transaction. Zack Stevens of NAI Robert Lynn represented the buyer.

February 6, 2018

Industrial New York Northeast Office

Barone Management Breaks Ground for 100,000 SF Spec Development in Long Island City

by Amy Works February 6, 2018

NEW YORK CITY — Barone Management, as developer and contractor, has broken ground for a speculative development located at 9-03 44th Road in Long Island City. The three-story, 100,000-square-foot building will feature office and industrial/flex space, as well as frontage on four streets and city and water views. Designed by JLS Designs, the project is slated for completion in September 2019. CBRE has been retained as the exclusive leasing agent for the project.

February 6, 2018

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