Office

Transwestern Brokers $14M Sale of Office Property in Norwood, Mass.

by Haisten Willis May 4, 2017

NORWOOD, MASS. — Transwestern Consulting Group (TCG) has brokered the $14 million sale of Norwood Business Center, an office property located at 1400 Providence Highway in Norwood. Calare Properties, a Massachusetts-based real estate investment firm and operator, was the seller. Jumbo Capital Management purchased the three-building portfolio, which totals 155,975 square feet of office, flex and research and development space. TCG’s Chris Skeffington and Roy Sandeman represented the seller and sourced the buyer, while Transwestern’s Andrew Stone assisted Jumbo Capital Management in arranging the financing for the purchase with Middlesex Savings Bank.

May 4, 2017

New Jersey Northeast Office

Markeim Chalmers Negotiates 20,000 SF Office Lease in Washington Township, N.J.

by Haisten Willis May 4, 2017

WASHINGTON TOWNSHIP, N.J. — Markeim Chalmers has negotiated a long-term lease for The Rothman Institute to occupy 20,000 square feet of a new 40,000-square-foot medical office building at Washington Township Town Center in Washington Township. Scott Martin represented both the tenant, The Rothman Institute, and developer The Atkins Cos. in the transaction. Located between Virtua Wellness Center and Kennedy Hospital, the two-story building is scheduled for completion by January 2018.

May 4, 2017

Illinois Loans Midwest Office

Square Mile Provides $97.3M Acquisition Loan for Office Property in Schaumburg, Illinois

by Kristin Harlow May 3, 2017

SCHAUMBURG, ILL. — Square Mile has provided a $97.3 million loan for the acquisition of Schaumburg Corporate Center in Schaumburg. The office complex comprises over 1 million square feet, with two 14-story office towers and a four-story connecting atrium building. The property was built in phases in 1980, 1986 and 2002. John Hancock Life Insurance Co. developed, owned and leased the property, which is located across the street from the Woodfield Shopping Mall. A joint venture managed by GlenStar Properties acquired Schaumburg Corporate Center, with plans to renovate and reposition the property. Improvements will include the construction of a parking garage, a modernized eleveator, amenity upgrades and corridor updates. John Parrett of CBRE arranged the financing.

May 3, 2017

Midwest Office Wisconsin

Opus Completes 60,000 SF Corporate Headquarters for Delta Defense in West Bend, Wisconsin

by Kristin Harlow May 3, 2017

WEST BEND, WIS. — The Opus Group has completed construction of a new 60,000-square-foot corporate headquarters for Delta Defense LLC in West Bend, about 39 miles northwest of Milwaukee. Opus worked closely with Kahler Slater throughout the design process. The two-story building includes a fulfillment area for the concealed carry organization’s printing and shipping services, designated training rooms, a call center, mailroom, recording studio, café, prep kitchen and an employee fitness center with locker rooms. The building also features a unique flex space with a monument staircase that doubles as seating. The 5,000-square-foot space will serve as a site for weekly company meetings and community events. The building is located in the West Bend Corporate Center and visible from U.S. Highway 45. The facility includes parking for 176 cars and docks for shipping from the fulfillment center. Delta Defense began occupying the property in March. Opus Design Build was the design-builder for the project, while Opus AE Group was the architect and structural engineer of record. Kahler Slater was the design architect and interior designer. Opus Development Co. provided development support services.

May 3, 2017

Healthcare Office Texas

Marcus & Millichap Brokers Sale of 173,790 SF Office/Medical Complex in Dallas

by Taylor Williams May 3, 2017

DALLAS — Marcus & Millichap has brokered the sale of Forest Green Office/Medical Complex, a four-building, 173,790-square-foot asset located along Greenville Avenue near Interstate 635 and the LBJ Freeway in Dallas. Ron Hebert and Michael Lawrence of Marcus & Millichap represented the seller, a California-based investment group. The property, which was built in 1985, was 82 percent leased at the time of sale.

May 3, 2017

Office Texas

Colliers Secures 88,084 SF Office Lease for Marketing Firm in North Dallas

by Taylor Williams May 3, 2017

DALLAS — Colliers International has secured an 88, 084-square-foot office lease on behalf of marketing agency Ansira Partners at Three Galleria Tower in north Dallas. Daniel Rudd and Billy Vahrenkamp of Colliers represented Ansira in the lease negotiations. Shannon Brown, Kenzie Killgore and Celeste Fowden of CBRE represented Galleria Towers. Ansira employees are scheduled to move into the property, which is located at 13155 Noel Road, in November.

May 3, 2017

New York Northeast Office

Cushman & Wakefield Arranges Sale of Heritage Corporate Park in Elmsford, N.Y.

by Haisten Willis May 3, 2017

ELMSFORD, N.Y. — Cushman & Wakefield has arranged the sale of Heritage Corporate Park, a 100-percent occupied flex/office property in Elmsford. PAG Investments acquired the 155,033-square-foot asset from an entity controlled by RNY Property Trust. Located at 80 and 100 Grasslands Road, Heritage Corporate Park sits on 8.5 acres in Westchester County’s commercial and industrial corridor. A 67,454-square-foot flex building at 100 Grasslands Road features a three-bay loading dock, 24-foot clear height, and showroom and warehouse space. It is complemented by a three-story, 87,579-square-foot office building at 80 Grasslands Road. Amenities include parking, on-site cafeteria service and a yoga and fitness studio. The property has served as the headquarters location for Amscan Inc. for more than 20 years and also serves as home to several other tenants. Cushman & Wakefield’s Andrew Merin, David Bernhaut, Gary Gabriel, Brian Whitmer, Frank DiTommaso and Al Mirin led the transaction.

May 3, 2017

California Office Western

Manchester Capital Management Buys Fine Arts Building in LA for $43M

by Nellie Day May 3, 2017

LOS ANGELES — Manchester Capital Management has purchased the Fine Arts Building, a 115,902-square-foot creative office building in downtown Los Angeles, for $43 million. The historic building is located at 811 W. 7th St. The Fine Arts Building was built in 1927 and renovated in 2016. It is 87.5 percent leased to tenants like WeWork, Pfeiffer Partners Architects, LTK Consulting Services, Hypothesis and SWA. NGKF’s Kevin Shannon, Ken White, Laura Stumm and Gibran Begum represented the buyer and seller, Sorgente Group of America, in this transaction.

May 3, 2017

Loans Office Washington Western

PSRS Provides $57M Loan for Seattle Office Property

by Nellie Day May 3, 2017

SEATTLE — PSRS has provided a $57 million loan for a 285,186-square-foot office building in the South Lake Union area of downtown Seattle. The building was constructed in 1929 and renovated in 1965. The asset has a mix of tenants, including a local newspaper as the anchor. The space also includes a data storage business. The 10-year, interest-only, cash-out loan was financed through a leading CMBS lender. The borrower is a large data center and office investor. PSRS’ Michael Thorp and Ryan Frankman secured the financing. The planned use of the capital was not disclosed.

May 3, 2017

California Office Western

Mariner Court Office Building in Torrance Sells for $24M

by Nellie Day May 3, 2017

TORRANCE, CALIF. — A private, locally based commercial real estate entity has acquired the 109,841-square-foot Mariner Court office building in Torrance for $24 million. The Class B building is located at 3625 Del Amo Blvd. Mariner Court is situated near the 405, 91 and 110 freeways, and near to Los Angeles International Airport. Derek Caldwell of Institutional Property Advisors represented the buyer, while the firm’s Michael Lawrence and David Black represented the seller, an Orange County-based private commercial real estate company.

May 3, 2017

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