Office

Rockpoint Group Sells 157,067 SF Office Building in Boston’s Seaport District

by Amy Works June 5, 2017

BOSTON — Rockpoint Group has completed the disposition of Tower Point, an office building located in the Upper Seaport District of Boston. Germany-based Universal-Investment and an institutional account managed by Northwood Investors acquired the 157,067-square-foot asset for an undisclosed price. The sellers rehabilitated the historic manufacturing facility into a first-class office building, which is 100 percent leased. Robert Griffin, Edward Maher, Matthew Pullen and James Tribble of NKF Capital Markets, along with Timothy Bianchi of Newmark Knight Frank, represented the seller in the transaction.

June 5, 2017

Georgia Office Southeast

Dilweg Acquires 418,000 SF Office Development in Atlanta’s Central Perimeter for $46M

by John Nelson June 5, 2017

ATLANTA — The Dilweg Cos. has acquired The Pointe, a two-building office development located in Atlanta’s Central Perimeter submarket. The seller and sales price were not released, but the Atlanta Business Chronicle reports that Dilweg purchased the project for $46 million. The buildings total 418,000 square feet and were built in 1981 and 1985. The Pointe was 66 percent leased at the time of sale to tenants including Cisco, Compass Group and Ecova. Dilweg plans to invest more than $3 million to improve the building’s operating systems, common areas and tenant amenities. The purchase of The Pointe brings Dilweg’s Atlanta office holdings to nearly 2 million square feet. CBRE represented the undisclosed seller in the transaction.

June 5, 2017

Office Southeast Tennessee

Kevin Hyneman Cos. to Build $11.4M Headquarters in Metro Memphis for Mueller Industries

by John Nelson June 5, 2017

COLLIERVILLE, TENN. — Kevin Hyneman Cos. plans to build a new 55,000-square-foot headquarters facility for Mueller Industries, a plumbing and HVAC parts manufacturer. The new headquarters building, which will house 125 Mueller employees, will cost approximately $11.4 million to develop. The facility will be situated within the 450-acre Boyle Schilling Farms mixed-use development, which is home to companies such as Helena Chemical, MCR Safety and Juice Plus. Mueller, a Fortune 1000 firm, expects to occupy the new office space in late 2018.

June 5, 2017

California Office Western

Cress Capital Purchases Sandpointe Office Building in Orange County

by Nellie Day June 2, 2017

NEWPORT BEACH, CALIF. — Cress Capital has purchased the 300,000-square-foot Sandpointe office campus in Orange County. Sandpointe features two, eight-story office buildings situated on 8.2 acres less than one mile from John Wayne Airport. The seller was TA Realty.

June 2, 2017

Office Texas

Onward Investors Sells 114,421 SF Office Building in Arlington

by Taylor Williams June 2, 2017

ARLINGTON, TEXAS — Onward Investors, a Minnesota-based investment and development firm, has sold Arbors at Brookhollow, a 114,421-square-foot office property located at 2201 E. Lamar Blvd. in Arlington. Built in 1999, the two-story building currently houses tenants such as Farmers Insurance Group, Ascension Capital and Weir & Associates. Mike Hardage and Matthew Otte of Transwestern represented Onward Investors in the transaction. Arbor Hui LLC purchased the property for an undisclosed price.

June 2, 2017

Colorado Industrial Office Western

Cress Capital Purchases Office, Industrial Portfolio in Fort Collins

by Nellie Day June 1, 2017

FORT COLLINS, COLO. — Cress Capital has purchased a 500,000-square-foot office and flex industrial portfolio in Fort Collins. The property is known as the Prospect Portfolio. It was built between 1984 and 2004. Prospect Portfolio is situated near the intersection of Prospect and Timberline, one mile west of I-25.

June 1, 2017

Loans Massachusetts Northeast Office

Blackstone Mortgage Trust Provides $135M Financing for Lab Facility Near Boston

by Haisten Willis June 1, 2017

WALTHAM, MASS. — Blackstone Mortgage Trust has provided $135 million in financing for 830 and 828 Winter St., an existing lab building and a planned lab facility in the Boston suburb of Waltham. HFF worked on behalf of the borrower, King Street Properties, in securing the financing through Blackstone. Loan proceeds will be used to refinance 830 Winter St., which spans 185,000 square feet, and to construct 828 Winter St. Completed in 2001, 828 Winter St. is home to tenants including Praecis Pharmaceuticals, ImmunoGen, GlaxoSmithKline and Histogenics Corp. The new property at 828 Winter St. will include 144,910 square feet across three stories along with a four-level parking garage. King Street broke ground on the project in October 2016 and is planning for a delivery date of July 2018. The HFF debt placement team representing the borrower included Greg LaBine and Porter Terry.

June 1, 2017

Hospitality Mixed-Use Northeast Office Pennsylvania Restaurant Retail

Zoning Approved for Mixed-Use Development in Metro Philadelphia

by Haisten Willis June 1, 2017

CONSHOHOCKEN, PA. — Keystone Property Group has received zoning approvals for the development of SORA West a transit-oriented mixed-use development in the Philadelphia suburb of Conshohocken. Upon completion, SORA West will include a central plaza surrounded by a 250,000-square-foot office building, retail and dining space, a 171-key hotel, the existing Conshohocken Firehouse and a 950-space parking structure. The project will be located adjacent to the Conshohocken SEPTA train station, near Route 76 and Route 476. Keystone is now in the process of finalizing the plans and pursuing land development approvals. In addition to office, retail, hotel and community uses, the developer is assessing the viability of adding a residential component to the property. Keystone is headquartered in SORA East, which is located one block away from SORA West.

June 1, 2017

Massachusetts Mixed-Use Northeast Office Retail

OMA to Design Mixed-Use Project in Boston’s Seaport District

by Haisten Willis June 1, 2017

BOSTON — WS Development has hired architecture firm OMA to design a mixed-use project located at 88 Seaport Blvd. in Boston. The project, located in Boston’s Seaport District, is OMA’s first commission in the city of Boston. OMA’s Shohei Shigematsu will lead the design efforts at 88 Seaport, which upon completion will include nearly 425,000 square feet of office space, 60,000 square feet of retail on the first two floors and 5,000 square feet of civic/cultural use. Construction is slated to begin in 2018 and finish in 2020.

June 1, 2017

Office Texas

CBRE Brokers Sale of 229, 466 SF Office Complex in Dallas

by Taylor Williams June 1, 2017

DALLAS — CBRE has brokered the sale of Parkway Office Center, a 229,466-square-foot office complex located at 14180 N. Dallas Parkway in Dallas. The Class A property, which was 90 percent leased at the time of sale to tenants such as Gulf Coast Western and Capital Senior Living, consists of two nine-story buildings and a multi-level parking garage. Gary Carr, John Alvarado, Eric Mackey and Robert Hill of CBRE represented the seller, KBS Realty, which sold the property to tech firm Apex Pacific Partners for an undisclosed price.

June 1, 2017

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