Office

Anchor Health Properties Purchases Fletcher Parkway Medical Center Near San Diego

by Nellie Day July 25, 2017

LA MESA, CALIF. — Anchor Health Properties has purchased Fletcher Parkway Medical Center, an 82,024-square-foot medical office building in the San Diego suburb of La Mesa, for an undisclosed sum. The building is situated adjacent to Sharp Grossmont Hospital, just north of the Interstate 8/California 125 interchange. Sharp HealthCare anchors the center. The asset features services like Surgical Care Affiliates (SCA) surgery center, radiology, laboratory, diagnostics, cardiology, pediatrics, ophthalmology, rehabilitation and hospice. HFF’s Evan Kovac, Andrew Milne and Trent Jemmett represented the seller, The Abbey Company, in this transaction.

July 25, 2017

Midwest Missouri Office

Hilliker Corp. Brokers $1.5M Sale of Office Building in St. Louis

by Kristin Harlow July 25, 2017

ST. LOUIS — Hilliker Corp. has brokered the sale of a 33,000-square-foot office building in St. Louis for $1.5 million. The Little Bit Foundation, a St. Louis-based nonprofit organization that provides basic needs for children living in poverty, purchased the property for its new headquarters. A commercial construction company previously occupied the building and will continue to occupy a portion of the property, located at 516 Hanley Industrial Court. Hal Ball and Brennan Gaffney of Hilliker Corp. represented the seller, Kraska Enterprises. Bahn Realty represented The Little Bit Foundation.

July 25, 2017

Office Washington Western

MRM Capital Buys The Plaza at North Creek in Bothell

by Nellie Day July 24, 2017

BOTHELL, WASH. — MRM Capital has purchased the Plaza at North Creek, a 194,074-square-foot office campus in the Seattle submarket of Bothell, for an undisclosed sum. The flagship campus is located at 18911 and 19015 North Creek Parkway, about 13 miles northeast of downtown Seattle. The Plaza at North Creek is 80.7 percent leased to tenants like Allstate and SNC-Lavalin. It has a 10-year historical average occupancy of 92 percent. HFF’s Nick Kucha and Dave Otis represented both the buyer and unnamed seller in this transaction.

July 24, 2017

New Jersey Northeast Office

Cushman & Wakefield Negotiates $15.8M Sale of Office Building in Princeton, New Jersey

by Amy Works July 24, 2017

PRINCETON, N.J. — Cushman & Wakefield has arranged the sale of an office building, located at 103 Carnegie Center Drive in Princeton. Boston Properties acquired the 96,000-square-foot building from Mack-Cali Realty Corp. for $15.8 million. The three-story building features flexible floor plans accommodating tenants from 500 square feet to 15,000 square feet. Andrew Merin, David Bernhaut, Gary Gabriel, Brian Whitmer, Frank DiTommaso II and Andrew Schwartz of Cushman & Wakefield brokered the transaction.

July 24, 2017

Illinois Midwest Office

GATX Corp. to Relocate Global Headquarters to Chicago’s Willis Tower

by Kristin Harlow July 24, 2017

CHICAGO — GATX Corp. has signed a 90,000-square-foot office lease to relocate its global headquarters to Willis Tower in Chicago. The railcar leasing company currently occupies office space at 222 West Adams St. in Chicago. Willis Tower is undergoing a renovation to include amenities such as a tenant lounge, fitness center and café. Joy Jordan, Jamey Dix and Brian Whiting of Telos represented Equity Office in the lease transaction, while Melissa Copley of Newmark Knight Frank represented GATX Corp. Equity Office is the U.S. office portfolio company wholly owned by Blackstone’s real estate funds. Blackstone acquired Willis Tower in 2015.

July 24, 2017

Illinois Midwest Office

J.C. Anderson Completes Lobby Renovation at Office Property in Chicago

by Kristin Harlow July 24, 2017

CHICAGO — General contractor J.C. Anderson Inc. has completed a lobby renovation at One North Franklin, otherwise known as PNC Centre, in Chicago. The project consisted of installing marble flooring throughout all of the elevator vestibules, large floor-to-ceiling specialty glass panels as well as new elevator wall sconces. Designed by architects Skidmore, Owings & Merrill, PNC Centre is a 36-story, Class A office building. Completed in 1991, the property features 617,592 square feet of office and retail space. Matt Kantro and Dan Dunn of J.C. Anderson led the project team. Gensler provided architectural services.

July 24, 2017

Florida Office Southeast

Velocis, CREC Acquire Office Tower in West Palm Beach for $42.3M

by Camren Skelton July 24, 2017

WEST PALM BEACH, FLA. — Velocis, in a joint venture with CREC, has acquired One Clearlake Centre, a Class A, 218,461-square-foot office building in West Palm Beach. The sales price was not disclosed, but The Real Deal reports AEW Capital Management sold the asset for $42.3 million. Christian Lee and José Antonio Lobón of CBRE represented the seller in the transaction, and Amy Julian of CBRE represented Velocis and CREC in financing the asset. Constructed in 1986, the 18-story tower is connected to a five-story, 662-space parking garage and is LEED Silver-certified. The joint venture plans to renovate the property, focusing on upgrading the lobby, corridors and bathrooms. A tenant lounge, conference center and multiple spec suites will also be created.

July 24, 2017

Florida Office Southeast

Institutional Property Advisors Arranges $38.9M Sale of Office Building in Boca Raton

by Camren Skelton July 24, 2017

BOCA RATON, FLA. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the $38.9 million sale of 301 Yamato, a 206,946-square-foot, four-story office building in Boca Raton. Douglas Mandel, Todd Everett and Jason Carros of IPA represented the undisclosed seller in the transaction. Mandel and Everett also procured the undisclosed buyer. Eric Fixler of IPA Capital Markets secured $29.5 million in debt on behalf of the buyer. Constructed in 1987, 301 Yamato features an atrium with glass curtain walls, indoor and outdoor water elements and an air-conditioned bridge that connects to a five-story parking garage.

July 24, 2017

Office Texas

Koontz Breaks Ground on 10-Acre Office Project in Metro San Antonio

by Taylor Williams July 24, 2017

NEW BRAUNFELS, TEXAS — San Antonio-based developer Koontz Corp. has broken ground on a 10-acre office project within Sundance Business Park in New Braunfels. The two-phase project will deliver approximately 120,000 square feet of office space, with Phase I targeting an April 2018 completion. The company is also developing a 313-unit multifamily property located across the street.

July 24, 2017

Georgia Office Southeast

JGRE/CORFAC International Sells Office Building in Buckhead for $20M

by Camren Skelton July 21, 2017

ATLANTA — Joel & Granot Real Estate/CORFAC International (JGRE) has sold a 108,000-square-foot office building located at 550 Pharr Road in Atlanta’s Buckhead district. The property is situated at the northwest corner of Pharr and Piedmont roads. Alan Joel and Dan Granot of JGRE represented 550 Buckhead LLC, an entity made up of JGRE, its Dallas-based mezzanine partner Rainer and other investors, internally in the sale to Charlotte-based Stone Street Capital. JGRE and Rainer originally acquired the office building when it was vacant in 2013.

July 21, 2017

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