Office

MCA Arranges $15.2M Acquisition Loan for Office Building in Lombard, Illinois

by Kristin Harlow December 1, 2017

LOMBARD, ILL. — Metropolitan Capital Advisors Ltd. (MCA), in partnership with AMA Financial LLC, has arranged a $15.2 million loan for the acquisition of a 174,098-square-foot office building in Lombard. The property, located at 701 E. 22nd St., is 97 percent occupied. A partnership between Red River Asset Management and Lincoln Property Co. has acquired the building with plans to further upgrade amenities. Scott Lynn of MCA and Gregg Wallace of AMA arranged the fixed-rate loan with Benefit Street Partners.

December 1, 2017

New York Northeast Office

Columbia Property Trust Acquires Office Building in Manhattan for $87.7M

by Amy Works November 30, 2017

NEW YORK CITY — Columbia Property Trust has completed its acquisition of 149 Madison Avenue, a 12-story office building located in Manhattan’s Midtown South district. An undisclosed seller sold the 127,000-square-foot property for $87.7 million. The company is purchasing the property subject to a ground lease that expires in January 2018. At that time, Columbia plans to begin a comprehensive repositioning at the fully vacated building. Redgate will serve as project manager, Genslar as architect and Highland Associates as engineer for the renovation project.

November 30, 2017

Office Texas

Hulu Opens 45,000 SF Viewer Experience Office in San Antonio

by Taylor Williams November 30, 2017

SAN ANTONIO — California-based video subscription firm Hulu has opened a 45,000-square-foot office in San Antonio that will serve as its viewer operation headquarters. The property is located at 4511 Horizon Hill Blvd., just off Interstate 10 on the city’s northwest side. According to local media reports, the center has already created 300 new jobs and will create an additional 200 by the end of 2018. The official ribbon-cutting ceremony was held on Tuesday, Nov. 28.

November 30, 2017

Office Texas

Moss Construction to Relocate from El Paso to 10,000 SF Office in McKinney

by Taylor Williams November 30, 2017

MCKINNEY, TEXAS — Moss Construction will relocate its office headquarters from El Paso to a 10,000-square-foot space at 6950 TPC Drive in the Dallas metro of McKinney. The company, which currently employs about 600 people throughout Florida, Hawaii and Texas, expects to expand its employee base following the move.

November 30, 2017

Office Texas

Bob Moore Completes 100,000 SF Call Center for GM Financial in San Antonio

by Taylor Williams November 29, 2017

SAN ANTONIO — Bob Moore Construction has competed construction of a 100,000-square-foot call center for General Motors (GM) Financial in San Antonio. The two–story property is GM Financial’s fifth call center in North America. The building features amenities such as a commercial cafeteria, arcade room and a gym with locker facilities. Designed by San Antonio-based RVK Architects, the project is expected to create up to 700 new jobs.

November 29, 2017

Office Texas

Energy Firm Leases 32,000 SF at Capitol Tower in Downtown Houston

by Taylor Williams November 29, 2017

HOUSTON — Quantum Energy Partners has signed a 32,000-square-foot office lease on the top floor of Capitol Tower, a 35-story, Class A office property under construction in downtown Houston. Cushman & Wakefield represented Quantum Energy in the lease negotiations and CBRE represented the landlord, Skanska. With this signing, Capitol Tower, construction of which is expected to be complete in 2019, is now 33 percent preleased.

November 29, 2017

Massachusetts Northeast Office

CBRE/NE Brokers $22.5M Sale of Office Property in Boston’s Back Bay

by Amy Works November 29, 2017

BOSTON — CBRE/New England has arranged the sale of an office building located at 10-11 Arlington in Boston’s Back Bay. Fisher College sold the six-story building to 10-11 Arlington LLC for $22.5 million. The buyer plans to use the 21,205-square-foot property as a family office. Mark Reardon, Meredith Christensen, Diane Harris, Matthew Furey, Simon Butler and Biria St. John of CBRE/NE represented the seller in the deal.

November 29, 2017

Massachusetts Northeast Office

SVN/Parsons Commercial Group Arranges $8.6M Sale of Office Building in Hopkinton, Massachusetts

by Amy Works November 29, 2017

HOPKINTON, MASS. — SVN/Parsons Commercial Group Boston has negotiated the sale of an office property located at 77 Main St. in Hopkinton. Thomson Realty Limited Partnership sold the building to Hopkinton Business Center LLC for $8.6 million. At the time of sale, the 55,000-square-foot building was fully leased to a variety of tenants, including a dental office, a jewelry store and a specialized planning and construction company. Victor Galvani of SVN/Parsons represented the seller, while Garrett Quinn, also of SVN/Parsons, represented the buyer in the transaction.

November 29, 2017

Florida Office Southeast

Meridian Development Acquires Office Portfolio in Tampa for $16.5M

by Camren Skelton November 29, 2017

TAMPA, FLA. — Meridian Development Group has acquired a two-property office portfolio in Tampa’s Carrollwood submarket for $16.5 million. The portfolio includes Buschwood Park One and Buschwood Park Two and totals 171,166 square feet. Rick Brugge and Mike Davis of Cushman & Wakefield represented the seller, Buschwood One & Buschwood Two LLC, in the transaction. Meridian was represented internally. The firm will invest another $1 million to build a 2,000-square-foot amenity center and café and to upgrade indoor and outdoor common areas. Meridian’s subsidiary company, Meridian Management Group, will manage the property and oversee the improvements. Jim Moler and Deanna Beer of JLL will oversee leasing for the property, which was 82 percent leased at the time of sale. Prior to the sale, Pilgrim Quality Solutions, an IQVIA Co., signed a new 18,000-square-foot lease at Buschwood Park Two.

November 29, 2017

Illinois Midwest Office

Macerich Sells 326,000 SF Office Tower in Chicago for $86.4M

by Kristin Harlow November 29, 2017

CHICAGO — The Macerich Co. (NYSE: MAC) has sold a 326,000-square-foot office tower in Chicago for $86.4 million. The building, located at 500 N. Michigan Ave., is adjacent to the company’s The Shops at North Bridge. The sale aligns with Macerich’s strategy of recycling capital out of non-core assets and into its core portfolio of retail assets, according to the company. The real estate investment trust currently owns 54 million square feet of real estate consisting primarily of interests in 48 regional shopping centers.

November 29, 2017

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