BOSTON — Boston-based Fantini & Gorga has arranged $13 million to refinance three properties — located at 20 Winthrop Square, 85 Franklin St. and 77 Franklin St. — in Boston’s financial district. Wayne Clough and Despina Hixon of Fantini & Gorga arranged financing with one of the firm’s correspondent insurance companies. The three buildings are conjoined and collectively include 98,350 square feet of office and retail space. A.W. Perry has owned and managed the properties for several decades.
BLOOMFIELD, N.J. — Cushman & Wakefield has brokered the sale of BroadAcres Office Park in Bloomfield. Prism Capital Partners and an institutional partner sold the 380,000-square-foot property to P3RE. The four-building, 20-acre property is located along the Garden State Parkway between exits 151 and 153. Cushman & Wakefield’s Gary Gabriel, Andrew Merin, David Bernhaut and Brian Whitmer were involved in the transaction. Prism will remain the leasing and managing agent for BroadAcres Office Park on behalf of P3RE. The new ownership plans a major capital improvement program including rebranding, signage, resurfaced parking lots, new exterior lighting, building common area renovations and a new gym. BroadAcres is 72 percent leased; tenants include Comcast, Capgemini, Bechtel Corp. and Dewberry Cos. Abe Hirsch, Matthew Texler and Paul Kim of Meridian Capital Group negotiated $24 million in financing for the acquisition of the property.
EDEN PRAIRIE, MINN. — CBRE has arranged the sale of Crosstown Corporate Center in Eden Prairie, 12 miles southwest of Minneapolis, for $8.2 million. The 59,487-square-foot building is located at 6385 Old Shady Oak Road. Built in 1999, the Class A building consists of two stories. Altus Property Investments LLC was the buyer. Ryan Watts, Judd Welliver, Sonja Dusil and Tom Holtz of CBRE arranged the sale on behalf of the seller, a Boston-based commercial real estate private equity fund manager.
ROSEMONT, ILL. — Money360 has provided a $16.2 million bridge loan for a 71,132-square-foot office property in Rosemont. Constructed in 2006, the single-tenant building includes a central break room, executive suite, conference room, large meeting room, computer training room, fitness center and locker rooms. The borrower was a single-purpose entity.
MENLO PARK, CALIF. — Square Mile Capital Management LLC has provided a $145 million construction loan for the development of the first phase of Menlo Gateway, a 16-acre, master-planned project in the Menlo Park area of Silicon Valley. Located on Independence Drive near the Marsh Road exit of U.S. Route 101, the development will consist of approximately 705,000 square feet of office space across three eight-story buildings. The 16-acre parcel, located roughly two miles from Facebook’s headquarters, was previously zoned for industrial use. The Marriott Autograph Collection Hotel, a 250-room hotel currently under construction, will also reside on the land. The 11-story hotel offers a pool with cabanas and poolside bar, a spa, a lobby restaurant and coffee market, as well as 20,000 square feet of indoor and outdoor meeting space. Delivery is slated for late 2017. The Bohannon Development Co., which is based in northern California, is serving as the project developer. San Francisco-based Heller Manus Architects designed the project. Phase I of Menlo Gateway will include an eight-story, approximately 210,000-square-foot building located at 100 Independence Drive, as well as a 1,040-space parking deck. Phase I also includes delivery of The Bay Club, a 41,000-square foot fitness center with …
HIALEAH, FLA. — Miller Construction Co. has completed the second phase of Centergate at Gratigny, a $25 million industrial development located at the intersection in Hialeah. Situated on 30 acres at the intersection of Gratigny Parkway and LeJeune Road, the new construction spans two buildings and 602,657 square feet. Fairchild Partners, a Miami-based brokerage firm, will oversee leasing of the property, which will feature Class A office, an air-conditioned mezzanine and security-controlled access for all bays. RLC Architects of Boca Raton designed the two 301,000-foot buildings that comprise the second phase of development.
NEW YORK CITY — Eastern Consolidated’s capital advisory division has arranged a $38.5 million construction loan for a 176,130-square-foot mixed-use development at 178-02 Hillside Ave. in Jamaica, Queens. The project will include 131 apartments on floors three through eight, over 10,000 square feet of retail space for a pharmacy, a 25,000-square-foot medical office space on the lower level and a public parking facility. Eastern Consolidated’s Adam Hakim, Andrew Iadeluca and James Murad arranged the transaction with Bank of the Ozarks on behalf of the borrower, Piermont Properties. Located at the northern end of Jamaica, 178-02 Hillside Ave. offers 200 feet of frontage. The corner site is adjacent to the neighborhoods of Jamaica Hills and Jamaica Estates, and above the F-Train 179 Street/Hillside Avenue Subway station.
WESTPORT, CONN. — David Fugitt of Westport-based Vidal/Wettenstein LLC has arranged the $2.6 million sale of 18-26 Imperial Ave. located in downtown Westport. The property is a fully leased five-building medical complex with a total of 7,428 rentable square feet. Amalgamated Realty Company LLC was the seller and Greens Farms Centre Associates was the buyer. Fugitt was the sole broker involved in the transaction.
NORTH ATTLEBORO, MASS. — Stubblebine Co./CORFAC International and Atlantic Commercial Real Estate LLC have arranged the sale of 20 Alice Agnew Dr. in North Attleboro for $3.6M. HTI Medical purchased the property, a 44,450-square-foot office/warehouse building. David Stubblebine, James Stubblebine and Rob Stave of Stubblebine Co., represented the seller, Mercury Trading International, and Mark Kearins of Atlantic Commercial Real Estate LLC represented the buyer. 20 Alice Agnew Drive is the former home of Mercury Trading International and is located in the North Attleboro Industrial Park. HTI Medical was established in 1997 as a provider of clinical laboratory and ultrasound equipment.
DES PLAINES, ILL. — Riddell Inc. has signed approximately a 27,000-square-foot office lease in Des Plaines, about 20 miles northwest of Chicago. The producer of football helmets and protective equipment will occupy the space at 1700 W. Higgins Road. The new location will serve as the company’s headquarters and also feature a testing lab to advance the design and development of football gear. Riddell will be vacating its current space located at 9801 W. Higgins Ave. in Rosemont later this year. Jon Springer, Paul Diederich and Andrew Kaplan of CBRE represented Riddell in the lease transaction.
