Office

Kairos Power Leases 55,757 SF of Office Space at West Tower 9 in Alameda

by Nellie Day October 9, 2017

ALAMEDA, CALIF. — Kairos Power has leased 55,757 square feet of office space at West Tower 9 in Alameda. The office is located at 707 W. Tower Ave. West Tower 9 is a 1940s hanger/manufacturing building undergoing refurbishment on the former Naval Air Station at Alameda Point. The building is part of the Alameda Point revitalization, which includes a 68-acre, $500 million mixed-use development. Kairos Power is an energy technology and engineering company based in Oakland, Calif. Marc Ward and Elisa Konik of Cushman & Wakefield represented Kairos. The firm’s Ted Anderson, John McManus and Andrew Schmieder represented the landlord, Ernst Development, in this transaction.

October 9, 2017

California Office Western

Home Franchise Concepts Relocates, Expands in Irvine

by Nellie Day October 9, 2017

IRVINE, CALIF. — Home-based business company Home Franchise Concepts has leased 38,094 square feet of office space in Irvine. The Class A space will allow the company to expand its Orange County headquarters. The new office is located at 19000 MacArthur Blvd. The company is relocating from 25,000 square feet at 1927 N. Glassell St. in the City of Orange. It will occupy the new office in April 2018. Jason Ward and Greg Brown of Cushman & Wakefield represented the landlord, C.M. Stratplan.

October 9, 2017

Office Texas

HFF Arranges Sale, Financing for 162,336 SF Office Building in Houston

by Taylor Williams October 6, 2017

HOUSTON — HFF has arranged the sale of and acquisition financing for a 162,336-square-foot office building located at 2100 W. Loop S. in Houston’s Galleria neighborhood. The 16-story property was renovated in 2014 and was 88 percent leased at the time of sale. Dan Miller and Martin Hogan of HFF represented the seller, a partnership between California-based Buchanan Street Partners and Minnesota-based CarVal Investors, and procured the buyer, Houston-based Elite Street Capital. Matt Kafka and Michael Johnson of HFF led the debt placement for the borrower, securing a five-year loan through Greystone that carries a fixed 4.25 percent interest rate.

October 6, 2017

Office Texas

Somera Road Purchases 142,000 SF Office Property in Austin

by Taylor Williams October 6, 2017

AUSTIN, TEXAS — New York-based investment firm Somera Road Inc. has purchased a 142,000-square-foot, Class B office property located at 4000 S. IH 35 Frontage Road in Austin in an all-cash transaction. The property offers a café and a parking ratio of 7.5 spaces per 1,000 square feet. Beginning in the first quarter of 2018, Somera Road will undertake capital improvements to transform the property into a Class A asset.

October 6, 2017

Maryland Office Southeast

Donohoe, USAA Purchase Office Building in Metro D.C. for $105.7M

by Camren Skelton October 6, 2017

BETHESDA, MD. — The Donohoe Cos. and USAA Real Estate have acquired 7101 Wisconsin Ave., a 230,904-square-foot office building in Bethesda, a suburb of Washington, D.C. HFF marketed the property on behalf of the seller, a joint venture between Brandywine Realty Trust and Allstate Investments, and procured the buyers. The Washington Business Journal reports the asset sold for $105.7 million. Situated a quarter-mile from the Bethesda Metrorail Station, 7101 Wisconsin was renovated in 2015 with an updated entrance, new lobby and updated conference facility and common areas. At the time of sale, the property was 97 percent leased to tenants including The Donohoe Cos. and Miller & Long Co. Inc.

October 6, 2017

Florida Industrial Loans Office Southeast

Ready Capital Provides $11.5M Loan for Acquisition, Conversion of Warehouse in Miami

by Camren Skelton October 6, 2017

MIAMI — Ready Capital Structured Finance has provided an $11.5 million loan for the acquisition of an industrial warehouse in Miami. Located in the Wynwood Art District, the 35,000-square-foot property will be renovated and converted into a creative office building featuring ground floor retail space. The undisclosed borrower signed a lease with an office tenant that will occupy a portion of the building upon completion of the planned capital improvements. The 24-month loan features one extension option and is inclusive of a facility to provide for capital expenditures, leasing costs and interest and carry reserves.

October 6, 2017

California Loans Office Western

MedProperties Holdings Receives $160.6M Acquisition Loan for Medical Office Portfolio

by Nellie Day October 6, 2017

LOS ANGELES — An investment affiliate of MedProperties Holdings has received a $160.6 million loan to acquire a 17-property medical and medical office portfolio that spans 10 states. The portfolio includes a total of 620,000 square feet. The majority of these assets are located off of hospital campuses. MedProperties is a Dallas-based private equity fund that invests in the development and acquisition of healthcare real estate. This includes medical office buildings, ambulatory surgery centers, inpatient rehabilitation facilities and surgical hospitals. MedProperties invests on a direct and an indirect basis through joint venture relationships. The firm develops new, value-add, and stabilized healthcare real estate, including multitenant medical office buildings and single-tenant specialty healthcare facilities. Capital One served as joint lead arranger, sole bookrunner and administrative agent on the loan transaction. Capital One Healthcare is a financial services provider across healthcare sectors, including seniors housing, healthcare services, pharmaceuticals, medical devices, healthcare IT and medical offices.

October 6, 2017

California Office Western

Thai Union North America Relocates in El Segundo

by Nellie Day October 6, 2017

LOS ANGELES — Thai Union North America has relocated to a 33,000-square-foot creative office campus in the Los Angeles submarket of El Segundo. The Class A campus is located at 2100, 2120 and 2150 Grand Ave. inside the Campus 2100 building. The new lease by Thai Union brings the campus to 94 percent occupancy. Travers Cresa represented Thai Union. Chris Sinfield and Tom Sheets of Cushman & Wakefield represented the landlord, a joint venture between Rockwood Capital and Marshall Property & Development, in this transaction.

October 6, 2017

California Office Western

Cloudvirga Leases 11,918 SF of Office Space in Irvine

by Nellie Day October 6, 2017

IRVINE, CALIF. — Cloudvirga has leased 11,918 square feet of office space in Irvine. The space is located at 2875 Michelle Drive within Jamboree Business Center. The modern fintech company for the home lending industry will use the space as its corporate headquarters. The new office will allow the company room for growth. JLL’s Scott Wetzel represented Cloudvirga, while the landlord, Irvine Co., was represented in-house by Gavin Galey and Mike Santley.

October 6, 2017

Office South Carolina Southeast

CBRE Arranges Sale of 460,020 SF Office Tower in Columbia, South Carolina

by Camren Skelton October 5, 2017

COLUMBIA, S.C. — CBRE has arranged the sale of Capitol Center, a 460,020-square-foot office building in Columbia. The 25-story tower is the tallest building in South Carolina, and was 87 percent leased at the time of sale to tenants including Haynsworth Sinkler Boyd, BB&T, Alliance Consulting Engineers, Gallivan White & Boyd and the South Carolina Department of Commerce. In addition, Capitol Center is home to Capital City Club, the building’s private dining club. Justin Parsonnet, Will Yowell, Ryan Reethof, Patrick Gildea, Martin Moore and Aaron Dupree of CBRE represented the seller, a joint venture between M&J Wilkow and Intercontinental Real Estate Corp., in the transaction. Hamilton Equity Partners, which acquired the building for an undisclosed price, will update the building’s main lobbies, conference facilities, elevators and common areas. Hamilton Equity has retained CBRE as the exclusive leasing agent for Capitol Center.

October 5, 2017

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