WILMINGTON, DEL. — HFF has secured $12.6 million in refinancing for an office building located at 1011 Centre Road in Wilmington. Ryan Ade of HFF arranged the long-term, fixed-rate loan with a regional bank for the borrower, Delle Donne & Associates. Built in 1986, the 90,000-square-foot property is fully leased.
CLARK, N.J. — Denholtz Associates has received $3.8 million in refinancing for two flex properties, located at 89 and 225 Terminal Ave. within Clark Commercial Center in Clark. The properties total 27,332 square feet of space. KinderCare leases 13,464 square feet of space at 89 Terminal Avenue, and Retro Fitness leases 13,868 square feet of space at 225 Terminal Avenue. Brad Fouss of OceanFirst Bank arranged the refinancing for the borrower through OceanFirst Bank.
SAN DIEGO — The Casey Brown Company has purchased a three-property office portfolio in San Diego for $77 million. The transaction includes Chesapeake Park Plaza at 9665 Chesapeake Drive in the Kearny Mesa submarket; Valley Corporate Center, a 176,132-square-foot office tower at 591 Camino De La Reina in Mission Valley; and Old Town Plaza, a two-building creative office project at 2251 San Diego Ave. in Old Town. CBRE’s Louay Alsadek and Hunter Rowe represented the seller on Chesapeake Park Plaza and Valley Corporate Center. Josh Buchholz, Doug Ceresia and Matt Midura of NAI San Diego represented the seller on the Old Town Plaza transaction.
BELLEVUE, WASH. — Pacific Coast Capital Partners has purchased Evergreen Office Park in Bellevue for $21.4 million. The two-building office park is located at 10940 & 11000 N.E. 33rd Place. Pacific Coast Capital Partners plans to make capital improvements to the park’s common areas, including new tenant amenities. Andy Miller, Joe Lynch and Dan Harden of Kidder Mathews represented the seller, SteelWave, in this transaction.
LONGMONT, COLO. — An affiliate of Pacific Acquisitions has purchased the 152,218-square-foot General Electric building in Longmont for $12.5 million. The single-tenant, office/flex facility is located at 1844 Nelson Road. General Electric fully occupies the facility, which was originally built in 1994. CBRE’s Jim Bolt represented the buyer, while the firm’s Tyler Carner, Jeremy Ballenger and Geoff Baukol represented the seller, Crescent Real Estate Holdings LLC.
AUSTIN, TEXAS — Goldman Sachs Asset Management (GSAM) Private Real Estate has purchased Quarry Oaks I and II, a two-building office complex located at 10900 Stonelake Blvd. in Austin. Principal Real Estate Investors sold the 292,421-square-foot complex for an undisclosed price. At the time of sale, the property was 100 percent leased to tenants including Forepoint, Microsoft Corp. and Microchip Technologies. HFF represented the seller in the transaction.
WESLACO, TEXAS — Marcus & Millichap has brokered the sale of Weslaco Station, an office building located in Weslaco. U.S. Customs and Border Protection occupies the entire 54,483-square-foot property on a long-term lease through February 2024. Joshua Murphy of Marcus & Millichap represented the seller, a private joint venture, and procured the undisclosed buyer in the deal. The acquisition price was not released.
NORTH CHARLESTON, S.C. — Holder Properties has begun construction on River Oaks Center, a 106,000-square-foot, Class A office building located on Leeds Avenue off I-526 in North Charleston. The four-story property is Holder’s fifth office development within Charleston’s largest office park, The Executive Park at Faber Place. The project team includes architect Warner Summers and general contractor Harper Corp. River Oaks Center will be ready for new tenants this fall.
PALM BEACH GARDENS, FLA. — NAI/Merin Hunter Codman has brokered the $18.5 million sale of a 10-story office building located at 4400 PGA Blvd. in Palm Beach Gardens. Dr. A. John Merola of Jupiter, Fla., purchased the 80,300-square-foot building from Admiralty Acquisition Co. LLC, an entity formed by Ray Celedinas of Celedinas Insurance Group and local investors. The office building was 99 percent leased at the time of sale to tenants such as Pulte Homes, the U.S. Army Corps of Engineers, GAI Consultants, Celedinas Insurance, A Marsh & McLennan Agency and the Scott Harris law firm. Neil Merin of NAI/Merin Hunter Codman represented the seller, and Summit Commercial Real Estate Group represented the buyer in the transaction.
GREENVILLE, S.C. — CBRE has brokered the $16.7 million sale of 750 Brookfield, a 106,649-square-foot office building located at 750 Brookfield Parkway in Greenville. The office building was 93.5 percent leased at the time of sale to tenants such as Ford Motor Credit Co., which occupies nearly 70 percent of the building. Patrick Gildea, Tripp Sellers and Charles Gouch of CBRE represented the seller, Chicago-based J.L. Woode Ltd., in the transaction. CCP Commercial Real Estate was the buyer.