Office

Halpern Enterprises Opens 30,000 SF Medical Office Building in Metro Atlanta

by Camren Skelton December 12, 2017

SMYRNA, GA. — Halpern Enterprises has opened Belmont Physicians Center, a 30,000-square-foot medical office building located within Belmont, a 48-acre mixed-use community in the Atlanta metro of Smyrna. Emory Healthcare anchors the center, which is located roughly 18 miles northwest of downtown Atlanta. Other tenants at Belmont Medical Center include Gentle Care Dentistry, Cobb Pediatric Associates and Smyrna Pediatric Dentistry. The two-story building was designed by Lyman Davidson Dooley Architects and constructed by Benning Construction. In addition to the new healthcare building, the Belmont mixed-use community features restaurants, retail, Smyrna Elementary School, a residential subdivision and a 274-unit apartment community. A second phase is planned that will include single-family homes, as well as an additional 12,000 square feet of retail space.

December 12, 2017

Office Southeast Tennessee

Home Improvement Distributor to Move 92,000 SF World Headquarters to Metro Memphis

by Camren Skelton December 11, 2017

COLLIERVILLE, TENN. — Orgill Inc., a wholesale distribution and retail services provider for the home improvement industry, will relocate its new world headquarters from Germantown, Tenn., to Collierville later this month. The company will move 265 employees into its new 92,000-square-foot facility, a new building located roughly 30 miles southeast of Memphis. The $21 million facility is expected to create 115 new jobs by 2022.

December 11, 2017

Midwest Minnesota Office

Elion, Kraus-Anderson to Develop 54,000 SF Office Building at CityPlace in Woodbury, Minnesota

by Kristin Harlow December 11, 2017

WOODBURY, MINN. — Elion Partners and Kraus-Anderson have unveiled plans to develop a 54,000-square-foot office building in Woodbury, an eastern suburb of St. Paul. The three-story Class A building will be the third office building situated within CityPlace, a 100-acre mixed-use development. Transwestern will represent Elion Partners in the lease-up of the building. The office portion of CityPlace began with the development of TRIA Orthopedic Center, a partnership between The Orthopedic Center, Park Nicollet & Health Partners and University of Minnesota Physicians. Earlier this year, The Davis Group unveiled plans to develop CityPlace’s second office building, a two-story, 50,000-square-foot medical office building, slated to open in July 2018.

December 11, 2017

California Loans Office Western

Stillwater Investment Group, CrossHarbor Capital Partners Obtain $34M Loan for QLogic Office Campus in California

by Nellie Day December 11, 2017

ALISO VIEJO, CALIF. — A joint venture between Stillwater Investment Group and CrossHarbor Capital Partners has obtained a $34 million loan to renovate and lease Element, a 165,028-square-foot office campus in the Orange County submarket of Aliso Viejo. The Class A campus is located at 26600, 26650 and 26700 Aliso Viejo Parkway. The property formerly served as the headquarters for QLogic. Element is situated near the 73 Freeway, close to the Aliso Viejo Town Center, Renaissance Clubsport and John Wayne Airport. HFF secured the loan through Amherst Capital Management.

December 11, 2017

Florida Office Southeast

Ian Black Real Estate Negotiates $16M Sale of Office Building in Sarasota

by Camren Skelton December 8, 2017

SARASOTA, FLA. — Ian Black Real Estate has arranged the $16 million sale of a 70,304-square-foot office building located at 6010 Cattleridge Blvd. in Sarasota. The Ibis Group sold the three-story asset to Sarasota County for its new administrative headquarters for the Sheriff’s Office. Ian Black, Steve Horn, Nick DeVito and Melissa Harris of Ian Black Real Estate represented Ibis Group in the transaction.

December 8, 2017

Midwest Office Ohio

Enervise Signs 12,700 SF Office Lease in Blue Ash, Ohio

by Kristin Harlow December 8, 2017

BLUE ASH, OHIO — Enervise has signed a 12,700-square-foot office lease at Vista Business Center II in Blue Ash, about 15 miles northeast of Cincinnati. Vista Business Center II, totaling 57,000 square feet, is part of a two-building office campus located along Alliance Road. Enervise, a commercial HVAC services company, is relocating from Evendale, Ohio, and will use the building as its new headquarters. Other tenants at the property include The Urology Group and Technical Training Associates. John Eckert, Travis Likes and Scott Yards of CBRE represented the landlord, Neyer Properties, in the lease transaction.

December 8, 2017

Market Reports Office Texas Texas Market Reports

Urban Renaissance: San Antonio Office Market Gains A New Identity

by Taylor Williams December 8, 2017

Regional investors have always described San Antonio as a steady market with desirable economic indicators. But with the impending delivery of a Class AA office tower and a growing tech presence, the city is on the brink of emerging as a national contender for commercial real estate investment. Historically, San Antonio has posted strong employment figures that have kept it firing on all cylinders and ready for business. The San Antonio-New Braunfels MSA has experienced seven straight years of job growth. The metro’s unemployment rate has dropped 10 basis points quarter-over-quarter to its current level of 3.7 percent, a figure that strongly outperforms the national average of 4.5 percent. By comparison, the MSA’s 10-year average unemployment rate was 5.5 percent and the nation’s 7 percent. As new investors analyze the San Antonio office market’s history, they should consider the similarities and differences between San Antonio and other major Texas metros. Assessing the last peak-and-valley metrics from 2007 through 2010 provides insight into how the market reacts to a changing economy. Vacancy Rate Stabilizes The vacancy rate for Class A office properties in San Antonio peaked in 2009 at 16.7 percent, while vacancy rates in Austin, Dallas-Fort Worth (DFW) and Houston …

December 8, 2017

Office Texas

Mohr Capital Acquires 100,000 SF Office Building in Dallas

by Taylor Williams December 7, 2017

DALLAS — Mohr Capital, a Dallas-based investment firm, has acquired a 100,000-square-foot office building located in the University Park area of Dallas. The property, which is situated on 13.8 acres, is currently vacant. Mohr Capital will invest in capital improvements to the building that will result in an additional 150,000 square feet of space being added. Gary Horn and Jack Glasgow of Cresa represented Mohr Capital in the transaction. The seller was not disclosed.

December 7, 2017

New Jersey Northeast Office

Onyx Equities, Garrison Investment Acquire 285,000 SF Office Building Paramus, New Jersey

by Amy Works December 7, 2017

PARAMUS, N.J. — Onyx Equities, in a joint venture with Garrison Investment Group, has acquired the leasehold interest in an office building located at 61 S. Paramus Road in Paramus. Mack-Cali Realty sold the 285,000-square-foot property for an undisclosed price. With this acquisition, the partnership’s Bergen County portfolio now comprises 1.4 million square feet across six assets located throughout Paramus and Rochelle Park. Cole Schotz P.C. and Milbank, Tweed, Hadley & McCloy represented the buyer, while Jose Cruz, Kevin O’Hearn, Michael Oliver, Stephen Simonelli and Marc Duval of HFF represented the seller in the transaction.

December 7, 2017

Midwest Missouri Office

Copaken Brooks, 3D Development Complete Lease-Up of Corrigan Station in Kansas City, Missouri

by Kristin Harlow December 7, 2017

KANSAS CITY, MO. — Copaken Brooks and 3D Development have completed the lease-up of Corrigan Station, a 110,000-square-foot property in Kansas City. CardConnect, a company specializing in advanced payment solutions, has signed an 11,150-square-foot lease on the second floor and is expected to take occupancy in the first quarter of 2018. The construction of Corrigan Station involved the redevelopment of the historic 10-story Corrigan Building and a new adjacent parking structure, which was completed in December 2016. A rooftop penthouse was converted into a glass-walled conference room. Other tenants include WeWork, Holmes Murphy, Hollis and Miller, The Roasterie Café and Corvino Supper Club. Scott Miller and Brian Bacon of CBRE represented CardConnect in the lease transaction. Ryan Biery and John Coe of Copaken Brooks represented ownership.

December 7, 2017

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