CONROE, TEXAS — Marcus & Millichap has negotiated the sale of Rivershire Plaza, a 39,735-square-foot office building located at 333 N. Rivershire Drive in Conroe. James Bell and Keith Lloyd of Marcus & Millichap marketed the property on behalf of the seller, and Nate Newman of Marcus & Millichap represented the buyer. Both parties requested anonymity.
LISLE, ILL. — CenterCore Properties LLC has acquired Corporetum Office Campus VI in Lisle for an undisclosed price. The 168,000-square-foot, Class A property is located at 550-650 Warrenville Road. The two-building complex features amenities such as a fitness center, conference center and on-site café. The property is currently 82 percent leased to tenants such as Fairway Mortgage, Primera Engineers, Circle K, United Healthcare and ABM Janitorial Services. Colliers International will continue to serve as the property manager and leasing agent for Corporetum VI. Winthrop Realty Liquidating Trust was the seller.
ROSELAND, N.J. — CBRE has arranged the sale of an office building located at 4 Becker Farm Road in Roseland. An undisclosed buyer purchased the 281,762-square-foot building for $16.7 million. At the time of sale, the building was 95 percent leased to a variety of tenants, including KMPG and CohnReznick. Jeffrey Dunne, Jeremy Neuer, Patrick Arangio, Jack Howard and Nick Savage of CBRE represented the seller, a special servicer, in the transaction.
ATLANTA — PGIM Real Estate, the real estate investment business of PGIM, has purchased Regions Plaza, a 23-story office tower located at the northwest corner of West Peachtree and 14th streets in Atlanta’s Midtown district. Jim Mehalso led the transaction internally for PGIM on behalf of its institutional investor clients. Constructed in 2001, the 502,846-square-foot Regions Plaza is LEED Gold- and Energy Star-certified and features valet parking, a conference facility, on-site Flywheel and FlyBarre Studio, dry cleaning services, dining and on-site banking facility. The sales price and seller were not disclosed. PGIM is the global investment management business of Prudential Financial Inc.
ATLANTA — Chicago-based Coyote, a logistics provider and subsidiary of UPS, has signed a lease for 47,986-square-feet of office space within Armour Yards, an adaptive reuse project situated between Atlanta’s Midtown and Buckhead districts. Coyote will lease the entire office portion at 255 Ottley, bringing the overall Armour Yards project to 86.4 percent leased. Gourmet coffee roaster East Pole Coffee Co. will also open at 255 Ottley later this month. Brooke Dewey of JLL represented the ownership group comprising Third and Urban and institutional investors advised by J.P Morgan Asset Management in the lease transaction. MB Real Estate’s David Burkards represented Coyote. The Armour Yards location will be the second Atlanta-area office for the logistics company and will create roughly 325 jobs. Coyote’s existing location is situated at 960 North Point Parkway in Alpharetta, roughly 25 miles north of Atlanta. Situated near the Atlanta BeltLine, Armour Yards comprises 28 buildings and is home to companies including Sweetwater Brewing Co., American Spirit Works, Atlanta Track Club and Fox Bros. Bar-B-Q. The project team includes Smith Dalia Architects and general contractor Gay Construction. Armour Yards’ loft-office portion is housed within four former industrial buildings totaling 190,000 square feet.
SIMI VALLEY, CALIF. — A 1031 exchange buyer has acquired Rand Medical Building, a 19,833-square foot office property in Simi Valley, for $3 million in an all-cash transaction. The property is located at 1633 Erringer Road. It was 75 percent leased at the time of closing. The buyer plans to occupy a portion of the building. Gregory Mills of Marcus & Millichap represented the seller, an individual/personal trust, in this transaction.
IRVINE, CALIF. — SendGrid has leased 22,000 square feet of office space at 400 Spectrum Drive in the Irvine Spectrum. The customer communications platform designer will occupy the entire fourth floor of the new, 21-story campus in the heart of Irvine Spectrum early next year. The lease brings the new tower to 36 percent pre-leased. It comes just weeks after Irvine Company announced that 200 Spectrum Center, its year-old sister building, is 93 percent leased.
DES PLAINES, ILL. — Cawley Chicago has been selected as the leasing agent for the O’Hare Offices, a three-building, 450,000-square-foot office portfolio in Des Plaines near the Chicago O’Hare International Airport. The portfolio consists of 999, 1011 and 1111 Touhy Ave. Affiliates of Siete 7 LLC, a private investment group that occupies space in one of the buildings, own the portfolio. The three buildings were developed from 1973 to 1979 and acquired in separate transactions in 2008 and 2009. The buildings are currently 50 percent leased and offer spaces ranging from 933 square feet to 60,000 square feet. Amenities include executive conference and training rooms as well as a fitness center. The owners of the building are undertaking several initiatives to help market and position the buildings, such as creating move-in ready suites, general cleanup and refreshing of available space and improved property signage.
NEW YORK CITY — Houlihan-Parnes Realtors has arranged a $52.5 million first mortgage loan for a 285,000-square-foot office and retail property located at 2501 Grand Concourse in the Bronx. The 10-year loan features interest-only payments. The former Alexander’s/Caldor’s department store was converted into a multi-tenant office and retail property in 2001. PC Richard & Son, Marshalls, Children’s Place, Capital One Bank, the City University of New York, the U.S. Social Security Administration and 1199 SEIU Health Care Training and Child Care Center are current tenants. Christie Houlihan, Bryan Houlihan and James Houlihan of Houlihan-Parnes Realtors arranged the loan for the borrowers, which include Samuel Jemal, members of the Jemal family, James Houlihan and members of Houlihan Partners.
NEW YORK CITY — HFF has arranged $28 million in refinancing for a mixed-use building located at 110 Fourth Ave. in Brooklyn’s Boerum Hill neighborhood. Scott Aiese of HFF secured the 10-year, fixed-rate, interest-only loan for the undisclosed borrower. The property features 49 residential units in a mix of studio, one- and two-bedroom layouts, and 5,197 square feet of retail and medical office space on the ground level. On-site amenities include a concierge, common room and fitness center. Additionally, most units feature balconies and/or in-unit washers and dryers. Built in 2007, the property was 100 percent leased at the time of financing.
